SMART SEARCH TO HELP WITH AML

We’ve been looking at ways to streamline the way we onboard new clients to the platform. Through conversations we have had with advisers, we have decided to incorporate SmartSearch certificates into our list of documents that, on receipt, will allow us to fully open a Transact portfolio and to consider our AML requirements to have been met.

For those who haven’t encountered SmartSearch, they provide a digital compliance tool which enables you to carry out your own due diligence on clients by providing AML and Know Your Customer certificates.

When a new client is introduced to Transact, their identity will be verified using Equifax. If Equifax cannot validate the details provided, then a SmartSearch certificate that you have used to verify the client, can be used as an alternative. This removes the necessity to gather and certify client documentation. So, when uploading a new client application to Transact, if you have one, please include your SmartSearch certificate.

We are conscious that SmartSearch are not the only provider in the market offering this service. If you use an alternate provider who operate a similar service, please submit their validation certificate as detailed above, and we will work with you to determine if they meet our criteria. This is all part of our desire to make financial planning easier.

1. Introduction
2. TOL Recent Enhancements 
3. Smart Search To Help With AML
4. One-Off Pension Lifetime Allowance Statements
5. Integrations Make Transfers Complete Sooner
6. Rising Appeal Of Bonds On Transact
7. Transact – BlackRock: March 2025
8. A Study In Gifting: ‘Periodic Issues’
9. Getting The Most Out Of A Lifetime ISA
10. Maximising Investment Bond Flexibility And The Advantage Of Higher Segmentation
11. Interest On Cash
12. Transact Events 2025