Transact is a wrap service that provides an online administrative support tool for financial advisers to assist them in managing client portfolios. It uses an online platform to bring assets and investments together in on place, releasing financial advisers from time-consuming paperwork and administration.
Transact provides a consolidated dealing service for financial advisers which enables them to instruct Transact to undertake purchases and sales of investments on behalf of their clients.
Transact does not provide any investment advice. Products offered include General investment accounts, ISAs, JISAs, offshore bonds, onshore bonds, Personal Pension Plan and SIPPs.
The Tax Incentivised Savings Association (Tisa) is to launch a consultation later this month to look into how to convert bundled share classes held on one platform into clean share classes on another platform when a client re-registers.
Providers will scramble to buy distribution ahead of the Retail Distribution Review (RDR) and will buy up IFA businesses "left, right and centre", delegates at this year's Institute of Financial Planning (IFP) conference heard today.