INTRODUCTION
Welcome to the October Adviser Update.
As you know, one of our key priorities is personal service for advisers. In this edition we share more details on the launch of a more personal LiveChat service and a more secure UPS service for cheques. We continue to invest in our front-line service staff. This includes our client service managers and transfer, technical and compliance specialists on regional teams. We have seen a significant increase in work volumes related to transfers to the platform towards the end of the summer. We also see increasing volumes of applications and queries related to bonds, trusts, corporate accounts and family investment companies. We know it is critical that these more complex cases run smoothly, and we are continuing to refine our processes and communication. I would encourage you to engage us early in complex cases to confirm the process and agree communication channels.
We plan to launch onshore and offshore bonds within our online Guided Application later this month. This will be phase one in our journey to digitalise the bond and trust processes. This development will apply to all new individual and joint bond applicants. We hope it will make the application process more intuitive and reduce errors and delays in the process. We will then shift our focus on digitalising trust applications into Guided Applications.
Moving on to integrations, I’m excited to announce the introduction of a new app developed in partnership with intelliflo which will be available on the intelliflo store. The new app is designed to help identify the differences in data on contributions and withdrawals between those shown in your practice management software and those shown on the platform. The app gives you a simple way to compare and reconcile data. More information on this new feature will follow soon. Also, this month, I’m delighted to share that Transact won the award for Best Use of Platform Technology at the annual Schroders Awards. The award was recognition of our integration with Moneyinfo – a great example of our integrations strategy making financial planning easier, by speeding up client onboarding, client consent and providing client access to Transact documents in Moneyinfo – creating a single, branded digital experience. Please reach out to your BDM or ASM if you are a Moneyinfo user interested in these integrations.
As the speculation over the treatment and impact on pensions heightens ahead of the budget, remember our Technical Team are always available to explore tax planning options. This month we cover three topics where we are experiencing calls and questions from advisers and para-planners:
- Estate planning with a spousal bypass trust in article 8.
- Covering the IHT liability on your pension in article 9.
- Capital gains tax – impact of recent changes and possible reforms in article 10.
You can call our direct technical line if you want to discuss any of these articles in more detail on (020) 7608 5330 or email technical_direct@integrafin.co.uk. However, I would also encourage you to think more strategically about how your firms engage our technical support team. We can help with training on popular topics such as bond, trusts and tax for your firm by providing online training. These services are increasingly popular given the increased planning interest in bonds, trusts and corporates.
I hope you have enjoyed listening to our new Transact Platform Podcasts which are live on Spotify and Apple. Please download the first four episodes and look out for the weekly releases in this, our first season. In the first episode I mention some of the challenges with transfers and I’m delighted that Dimensional and Vanguard are leading the way in facilitating electronic messaging for overseas funds (see article 5). If others follow suit, this change could radically improve in specie transfer times. In the latest episode we discuss cyber risk with experts at Transact. Please continue to reflect on your approach to growing cyber threats. As I hope everyone knows, Monday 13 October is the date when multi-factor authentication (MFA) will be compulsory for all advisers. Thank you to the thousands of advisers and support staff who have embraced MFA already. If you haven’t yet set up MFA, please do so before the 13 October deadline. I would also encourage you to consider using an authenticator app rather than email or mobile to receive your MFA code. Multi-factor authentication is a great defence against the risk of stolen passwords.
If you have time, please take part in this Platforum quarterly survey. It asks you about the platforms you use and how well these platforms support your firm and your clients. Completing the 10-minute survey allows you to download a free copy of Platforum’s ‘Choosing an Adviser Platform 2025 report’, which supports platform selection and due diligence. In addition, you will be eligible to enter a prize draw to win one of four £50 Amazon vouchers.
The Transact executive and I are keen to get back on the road and meet advisers in person. I enjoy the chance to escape Board and internal meetings and hear about your priorities and challenges. These Connect events start on 14 October in Warrington, followed by Cardiff and London. Our breakfast events are also proving very popular. These smaller events are hosted by your BDM and ASM, and spaces are limited so register early to ensure you don’t miss out. A full list of events and joining instructions can be found here. Register now to avoid missing out.
Kind regards,
Tom Dunbar
Chief Executive Officer
1. Introduction
2. Transact Online (TOL) – Recent enhancements
3. LiveChat now supports client & transaction-specific queries
4. Transact covers UPS delivery charges for cheques
5. Transact supports improvements to industry in specie transfer times
6. Succession planning – keep clients involved
7. The Transact–BlackRock MPS turns three
8. Estate planning with a spousal bypass trust (SBT)
9. Covering the IHT liability in a pension
10. Capital Gains Tax – impact of recent changes and possible reforms
11. Interest on cash
12. Transact events 2025