Introduction
Dear Adviser,
As summer is drawing to an end, we reflect on the last few months – it wasn’t a quiet summer!
From this month you can use Guided Applications for partial ISA transfers and you can now see which portfolios are in a family linked group in the Investor Personal Details report. With ~60% of portfolios currently linked on Transact, many clients are already benefitting from our enhanced inter-generational support including our latest family view tool and family discounts. All of August’s TOL updates are summarised in this video, alongside separate snippets for each development.
As an experienced API enabled platform we are pleased to have worked with Plannr and intelliflo on remuneration reconciliation and income statements, and we are looking forward to future exciting developments as we explore integrations for account opening, document exchange and client consent via portals. Our objective is to make client onboarding easier for us all and to help you become more efficient. Take a look at the Integrations article for more details.
The issues that platforms can face when using outsourced platform technology were highlighted again recently, and act as a reminder that there are many benefits to proprietary software. At Transact we have total control over our code quality and developer resource allocation. We set our own developmental priorities and control the associated costs. Software development capability is fundamental to the platform market and technology issues impact advisers and clients. Careful due diligence of the underlying technology provider is essential when selecting a platform including financial strength, developer quality and retention and risk of re-platforming.
One of our top priorities is to continually improve the personal service we provide. Our latest service initiative aims to enhance your transfer experience by validating ceding provider account numbers. How we plan to achieve this, and the wider role of our transfer specialists in improving transfer turnaround times and service, are detailed in the article below.
Unfortunately, fraud and scams are ever present in today’s digital world, so please read the article below to raise your awareness of potential threats and some steps you can take to protect you and your clients. Cheques can be stolen within the postal system so please ask clients to make payments online wherever possible.
This edition contains a useful article which serves as a reminder on how clients can give wealth away whilst still having access. And rest assured, our expert Technical team are on hand to support you if required.
We conducted our annual Client Survey and Adviser Survey over the summer. Thank you to those who shared their feedback. Note that clients and advisers had the opportunity to enter a prize draw for a £50 John Lewis voucher, and the winners have now been contacted.
Our Connect events recommence on 3 October in Warrington, followed by Cardiff and London. At these events you can hear direct from me and other directors, industry experts and fellow advisers. A full schedule of our remaining 2024 events, including smaller breakfast sessions 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. Integrations – It Wasn’t A Quiet Summer!
4. Transact Transfer Specialists
5. Fraud Risks to Be Aware Of
6. Transact And Letters of Authority
7. Transact – BlackRock MPS
8. Utilising Trusts to Give Wealth Away But Still Retain Access
9. Interest on Cash Deposits
10. Transact Events 2024