Introduction

Dear Adviser,

We are pleased to share that we have topped the 2024 Investment Trends Adviser Technology & Business Report amongst primary users. While we are top we aren’t complacent and the feedback from every single adviser matters deeply to us.

This year Transact received the top rating among primary users (i.e. how advisers rate their main platform), with a satisfaction score of 81%. This is a great result against the backdrop of a general drop in adviser satisfaction levels across all platforms.

The research showed that many advisers are reviewing their client base to reduce numbers of less commercially viable clients with lower portfolio values. They are looking to serve these clients under specific conditions, such as when they are in a family group. (Our family linking approach supports this.) Furthermore, the proportion of advisers now focusing on high net worth (HNW) clients (with investable assets of > £250k) has increased to 47% (up from 36% in 2023) and even higher for Transact advisers at 56%.

We are ploughing ahead with new online developments with digitialisation and integrations still top of our agenda. You may have seen that we have worked with Sprint to make Transact adviser remuneration data available via intelliflo. Simply download the ‘Transact Income Statement’ app from the intelliflo store, follow the simple, but secure, sign on process and the most recent Transact remuneration data will appear in intelliflo.

In this month’s Adviser Update we provide more detail on the expanded Guided Application functionality that allows you to add junior ISA (JISA) and pension applications online, reduce adviser/Discretionary Investment Manager (DIM) fees and unlink DIMs online. Remember, we waive the quarterly pension and JISA wrapper fees for children (in a linked family group) until they reach age 18. May’s Transact Online updates are summarised in this video.

The quarterly Platforum survey on platform selection, pricing and platform MPS options is now open. Please complete the survey here if you have time. Completion allows you to enter a prize draw to win one of four £50 Amazon vouchers.

Thank you if you were able to attend our recent Leeds and Birmingham Connect events. Our next Connect event will be in Warrington on 3 October. If you are new to Transact or a seasoned user, please do attend an event near you. At each Connect event you can hear direct from me and other directors, industry experts and fellow advisers. You can also join us at smaller regional breakfast events – a full schedule of our 2024 events that you can register to attend is hosted here.

Kind Regards,

Jonathan Gunby
Chief Executive Officer,
Integrated Financial Arrangements Limited (Transact)

 

1. Introduction
2. TOL Recent Enhancements 
3. Non-advised Clients Need Advice
4. Removal of Adviser Purchase Related (Initial and Switch) Fees
5. New Sustainability Disclosure Requirements
6. Insights From Australia
7. Transact – BlackRock MPS
8. The Increasing Popularity Of The Investment Bond
9. Transitional Tax-Free Amount Certificates
10. Interest on Cash
11. Transact Events 2024