Transact integrates with Prestwood and reduces charges
13 October 2016
Transact has announced the integration with Prestwood’s Truth cashflow modelling software.
This follows Transacts integration with CashCalc announced in August 2016.
Prestwood said the integration allows Truth users to use information about their clients’ Transact portfolios in the cashflow modelling software. The service is available to users of both Truth and Prestwood Professional.
Managing director of Prestwood, Ritchie Walton, said: “Building relevant links with other market-leading firms, means financial planning firms no longer have to compromise with ‘one size fits all’ technology but can access ‘best of breed’ solutions to offer comprehensive, lifelong cashflow modelling as part of their financial planning service to clients.”
Reduction in charges
Transact has also announced that it is reducing its charges.
Its Annual Commission charge of 0.31% will reduce to 0.30% on 1 April 2017.
Additionally, Transact will be reducing its charging threshold of £150,000 to £120,000 from the same date. Currently Transact Portfolios valued up to £150,000 are charged at 0.5% in Annual Commission on the first £60k of investments.
Transact also allows clients and their family to link Portfolios as a group, allowing them to benefit from lower overall charges.
The company said that with both reductions considered, a Transact client with a Portfolio value of £120k will now pay £126 less per annum – a saving of over 25%. This latest reduction is set to benefit over 95,000 clients and makes Transact even more attractive.
A recent decision by the FOS to uphold a complaint against Intrinsic Financial Planning highlights several issues with how...
Defined benefit (DB) transfers remain topical and the Financial Conduct Authority (FCA) continue to find problems in this market....
In our last Parameters survey we asked paraplanners to name the business and non-business book they would recommend to...