Transact cuts fees for mid-market clients

Transact is to cut platform fees for client portfolios of between £180,000 and £300,000 in an attempt to attract new business.

As of 1 April, the platform’s 0.325% fee for portfolios of between £300,000 and £600,000 with be extended to those with portfolios worth £180,000 and above. Those with portfolios of under £180,000 will continue to pay a 0.5% annual charge on the first £60,000 of their investments. It follows on from Transact’s announcement that it will halve buy commission to 0.05% as of 1 March. Dealing charges will also be reduced again on 1 March, cut to a maximum of £3.75, £1 and 50p for standard, phased and regular transactions respectively. “2014 was another profitable year for Transact and f...