Transact reduces charges for lower value portfolios

Eighth charging reduction since 2008

Transact has reduced charges on its platform and has lowered the threshold size of client portfolios eligible for lower annual fees from £180,000 to £150,000.

Previously, clients with portfolios valued below £180,000 have had to pay a higher 0.5% fee on the first £60,000 invested, and the lower 0.325% fee on the remainder of their assets. From 1 November, this threshold is being reduced to portfolios valued at £150,000, while the standard annual commission will also be reduced to 0.31% next year. This means that only those clients with less than £150,000 in assets will pay the higher 0.5% on the first £60,000. The firm said this would be equal to clients with a £150,000 portfolio paying £105 less per year, a reduction of 17%. For investm...