Introduction

Dear Adviser,

As the tax year end (TYE) approaches, our plans to deal with higher business volumes are in place. You can access our TYE guide using this link to help you meet the Transact TYE investment deadlines and to maximise your clients’ tax allowances. When sending us your clients’ money, please use alternative, more secure methods rather than cheques. Cheques can be delayed, lost, or intercepted in the postal system. It is more secure and quicker to tee up an “expected deposit” online followed by a bank transfer – you can also add trade instructions if you wish.

We are pleased to share that BLME has been added to our list of term deposit providers. Later this month clients will be able to select these products on Transact Online.

As a reminder, Transact buy commission has now been removed from the platform and quarterly JISA wrapper fees are being removed from April 2024.

We continue to make great strides with the digitialisation of our platform. Some of the more significant developments are detailed in our webinar below. Following our latest platform software release you can change your clients’ email, mobile and address details online on their behalf. Always with the highest levels of client security in mind, we will confirm the change to your client.

We have adjusted our approach to emails we send to clients which refer them to their Pickup Page. In the future this initial email will include a heads-up on the type of document that has been sent to their Pickup Page.

The deadline to stop platforms “doubling-dipping” charges on clients’ cash interest has now passed and we are keen to see better outcomes for clients industry-wide, along with improved disclosure in Illustrations and Costs and Charges. Our own cash rate is now 4.88% p.a. payable monthly (as at January 2024) and our approach to not skimming cash interest is reflected in the illustrations we provide.

If you were unable to attend our Transact webinar on 6 February, a full recording and excerpts are shared here. Watch the videos to learn about our approach to cash interest, key challenges for advisers, our digitisation progress and plans for back office and portal integration. Also included is a popular session with Brian Radbone, our Technical Counsel, on the removal of lifetime allowances. More detail on the content of the webinar is included in the article below.

If you would like to join an in-person event, a full schedule of our 2024 events that you can register to attend is hosted here.   We would be delighted to see you.

Finally, thank you for your ongoing support as we approach the busy months ahead.

Kind Regards,

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

 

1. Introduction
2. TOL Recent Enhancements 
3. Structured Product Trends
4. Linking Third Party Offshore Bonds To A GIA
5. Transact Webinar Highlights From 6 February
6. Transact Data API
7. Transact – BlackRock MPS
8. Transitional Tax-Free Amount Certificates For The New Pension Allowances
9. Fund Changes
10. Interest on Cash
11. Transact Events 2024