Funds under direction at wrap platform Transact grew 3.5% over the quarter ending 30 September 2020, an 8.7% increase for the financial year despite a “difficult and unpredictable” operating environment.

Following a successful pilot, wrap platform Transact said it is now accepting digital signatures on most applications via DocuSign or moneyinfo.

Ian Taylor, one of the founders of Transact and a former chief executive, is to step down as an executive director of the platform’s parent in February as he heads for retirement.

Investment platform Transact has tightened up its rules on pension transfers following the FCA’s campaign to tackle problems with poor transfer decisions.