Transact Online (TOL) – Recent Enhancements
This month we have made a number of key enhancements including opening a pension online, the ability to share illustrations, making it easy to regularly sweep income, and complete proportional cash & investment transfers between wrappers, as well as enhancements to managing Model Portfolio Services. More details on each of these are covered below and there is also a summary in this short 3 minute 07 second video:
Open a Pension Online
Similar to an ISA wrapper, you can now open pension wrappers (PP & SIPP) online for existing clients. Once you have followed the steps illustrated below, select the existing Transact client, and enter the required details. This process is quick, secure, and easy.
Share Illustrations
Illustrations can now be shared amongst colleagues. For example, a user logged in at the adviser firm level can create an illustration, and their colleague (logged in at the adviser level) can access and complete it via Tools > Personalised Illustrations and Applications.
Complete a Regular Sweep into a Wrapper of Choice
This function allows you to sweep income from a wrapper to a client’s bank account via Transactions > Regular Sweep. This could be from their GIA or another wrapper of the same type (subject to tax rules, etc.). This is useful for excluding distribution income from an MPS rebalance.
Complete a Proportional Cash & Investment Transfer
The new Proportional Transfer feature (via Transactions > Cash and Investment Transfer) simplifies transferring cash and investments between wrappers, saving time and reducing errors.
Making the administration of Model Portfolio Services (MPS) easier
When DIMs ask us to subscribe advisers to a DIM template (the old way) we now remind them they can do it for themselves far more efficiently on TOL. This new online functionality allows DIMs, and those with DIM permissions, to manage multiple adviser firms’ access to their MPS templates (“model portfolios”). Under the Templates menu a new option “Manage Access to Templates” has been added. It allows DIMs to:
- Assign templates to advisers’ firms – they can then use them to write personalised illustrations and write business for Mrs Miggins.
- Report on your templates and which adviser firms have access to them.
If you need any help on any aspect of our service, please use Live Chat for a quick response, co-browse to screen share so that we can direct you, or call our highly trained, dedicated Sales & Online Support team who support these functions via (020) 7608 5387.
1. Introduction
2. TOL Recent Enhancements
3. Removal of Adviser Purchase Related Fees
4. Platform Health Check
5. Adding Value to family Businesses
6. LoA Discounted Service
7. Transact – BlackRock MPS Two Years On!
8. Pensions Death Benefits and a Time For Reflection
9. Pensions, IHT Headaches And The Potential For Gifting
10. Finance Act 2024 and Abolition of LTA
11. Interest on cash
12. Transact Events 2025