Transact-online Reviews

Transact not for only6greens

I am writing this as a retired financial adviser who was and still is a great fan of this company I should also say I am a shareholder so perhaps a bit biased but I hope my comments are helpful to both only6greens and others The review posted by only6greens confirms to me that he has been recommended to Transact by someone who doesn t understand it s value and use Transact is designed to be used by a financial planning professional and is not now and never has been a platform for the sophisticated investor who wishes to make his own investment decisions There are no hidden charges charged by Transact and if there are these are as a result of the financial adviser specifying them to Transact An investment attracting a 5 initial charge would be unacceptable to a responsible IFA using Transact and suggests the adviser is taking a commission from that investment These charges are chosen by the IFA not by Transact which only offers an administrative platform For the right clients and advisers Transact is one of very few platforms to offer such a good service but it should only be used by IFAs who have a fully developed financial planning and investment strategy that works with the platform In that situation it is in my opinion unique and well worth a 5 or even 6 if there was one rating

Great Service

Brilliant Service Love that you can call and not have to wait on a hold line after a few rings the team answer Very rare these days The team have been very helpful with all the question I have had Very happy

Excellent administration and service levels

Having been an independent financial adviser for almost 20 years Transact are the best company that I have dealt with in that time I wish that I had placed more of my clients with them since I became an independent adviser Prior to writing this review I took the time to read the negative reviews Observations I would make are - some issues are likely being blamed on Transact that are not their responsibility - all companies have issues I cannot remember any instances where I have had a problem that has been caused by Transact I have considerably more issues with the majority of other financial service providers - Transact work best in conjunction with a financial adviser their systems and processes are set up for people who have intimate knowledge of the rules and regulations surrounding financial services If we need to get something done on behalf of clients we can phone up knowledgeable people based in the UK who help us expedite our clients requests For example a client who needed money from their pension who had not previously taken any benefits was able to receive what they needed within 24 hours Often trying to speak with someone can take the best part of an hour let alone getting an accurate answer or any meaningful action I feel badly for those people whose experiences with Transact does not mirror my own To those who are considering using Transact and reading this review I would say do not be deterred by the negative comments amongst their peers I would still rate them as being the best Grant ConnellPartner Independent Financial Adviser Russell Co Financial Advisers

A great service that s always improving

I have been both an adviser and client of Transact I m not sure I can agree with all of reviews that have been left by other users I have often experienced delays but rarely has this been the fault of Transact Particularly in transfers there are a number of moving parts and Transact cannot be accountable for those that are out of their control As an adviser I am yet to find a provider that offers the same level of service and technology What I think of as requisite because Transact offer it I find others don t offer Tools such as capital gains calculators information on reporting funds performance analysis model portfolios are either non-existent or lacking in ability The website may appear basic but it s practical and more sophisticated than many of the over-engineered alternatives When I call I get through to a familiar person on a small team and they answer within only a few rings no waiting no selecting departments from a menu The person that answers will also usually know the answer or be able to find it for me quickly The Technical support is also excellent both by phone and email I can also get one-to-one training when ever I need it either face-to-face or online This is something that many providers are cutting back on but Transact is expanding through more support staff and the improvements to services such as Live Chat Constant development price reductions service improvements also mean the service will only get better

Conflicting information between two

Conflicting information between two platforms necessitated a late phone call The responder at Transact was extremely efficient clear in their feedback and correct in their calculations Very helpful indeed Transact responder was Ned

Recommended by my adviser

Recommended by my adviser Website gives me all the information I need to keep track of my investments Simple to use

Praise when it s due

The team provide an excellent service and are professional and knowledgeable when responding to a query If only the standards you set could be matched in other organisations

You get what you pay for in life

I m a strong advocate that you get what you pay for in life Transact was notoriously expensive back in the day and I couldn t warrant putting all of my clients on there although I would have if it wasn t for compliance I appreciate I have a fairly complex investment proposition which is why I couldn t imagine using another platform The functionality allows me to do exactly what I need although I admit that I do sometimes need a bit of guidance by the team who are very accommodating Assuming they continue to develop as they have over recent years I can t imagine I d use anyone else