At Transact we always try to ‘do the right thing’ for advisers and our mutual clients – this applies to all aspects of our business, from service to charges.
When it comes to charges, to us, doing the right thing means keeping charges simple, being completely transparent in our charging disclosures, and reducing charges responsibly.
In 2024, we made the following price reductions for new and existing clients. This was our 17th set of charge reductions in 16 years.
- Transact buy commission removed from March 2024
- JISA wrapper fees for clients in a linked family group removed from April 2024
This means better value for clients as no client will be charged Transact buy commission, and no Junior ISA client in a linked family group will be charged a JISA wrapper fee*.
*The last JISA wrapper fee charge to be taken will be in respect of the quarter 1 January 2024 – 31 March 2024.GET IN TOUCH
The impact of cash interest
Transact pays all interest earned on pooled cash back to clients and has never retained or skimmed interest on client cash.
In fact, during December 2023, a quarter of clients earned more interest than they paid Transact in annual charges.
Our current cash interest rate is 4.88% (paid monthly as at March 2024), and cash is held across a range of mainstream UK banks.
View our full charging structure
No.1 large UK platform for 14 consecutive years
Transact has been rated the UK’s no.1 large platform for 14 consecutive years in the CoreData UK Investment Platform Study (2010–2023).
In 2023, advisers rated Transact the top large platform in 20 out of 49 service metrics, and top 3 in 35. Transact was rated top for: Functionality, Product & Investment Range and Reporting Capability.
Responsible pricing
Responsible pricing is just another example of how we ‘do the right thing’ by Mrs Miggins.
We have always reduced our charges responsibly, meaning we pass on economies of scale to clients so they can benefit from the same top-quality service at the best possible rate.