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Transact funds fall by 11% in Q1

Adviser platform Transact reported today that quarterly Funds Under Direction fell 11% in the first quarter (to 31 March) from £39.31bn to £34.99bn, a drop of £4.4bn.


Transact asks for patience as staff shift to home working

The City-based adviser platform Transact says all its staff have moved to home working and it has asked users for patience as it deals with a high volume of calls.


Transact hit with unexpected £4.3m VAT bill

The parent company of Transact, the platform used by many Financial Planners, has been hit with an unexpected £4.3m VAT bill from HMRC which could also see the company having to pay an additional £1.4m a year in VAT.


Transact founder sells £40m of shares to set up charity

Michael Howard, the founder of platform Transact, has sold 8.5m shares in holding company IntegraFin to set up a new charitable foundation.

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