Transact to reduce charges again next year

Buy commission down £100,000

Adviser platform transact will reduce its prices next year for the 13th time since 2008.

Transact will reduce its annual commission charges from 0.29% to 0.28% and from 0.19% to 0.18% for the respective charging bands, effective from 1 April 2020. The new annual charging commission structure will work as follows: Elsewhere, the firms ‘buy commission' - a charge of up to 0.05% when a customer buys an investment - will reduce from  £500,000 to £400,000 on 1 March. Transact last reduced its buy commission in January from £1m to £500,000.   According to transact, the reduction will benefit the vast majority of customers, with new customers also eligible for the reduced ra...