Removal Of Adviser Purchase Related (Initial And Switch) Fees

We know that the vast majority of adviser fee revenue comes from annual payments and initial deposit-related fees (known as the ‘Portfolio Establishment Fee’).

Removal of adviser fees related to the purchase of assets.

Our analysis of all the adviser fees we facilitate shows that less than 1% is generated from purchase-related fees (known as ‘Initial’ and ‘Switch’). With effect from January 2025 the option to choose these purchase-related adviser fees will not be available for new portfolios. With effect from September 2025 existing portfolios will be unable to use this fee structure.

In the coming months, we will contact you directly if one of your clients’ portfolios will be affected. We aim to ensure this is a smooth and clear process for you and your clients.

Future fee type options

The three adviser fee types which we will continue to facilitate on Transact are:

• Annual Fees (with an option for different rates for Cash & Investments).
• Initial Fees based on the amount deposited (called “Portfolio Establishment Fees”).
• Ad hoc Fees (on a monetary basis).

Should you require any further information or assistance please contact your Adviser Support Manager.

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