Transact chief executive Tom Dunbar says the platform is on a mission to build the UK’s best AI-ready ecosystem for financial advisers.
He says this next phase will combine seamless integrations, automation and digital efficiency to make financial planning easier.
Speaking exclusively to Money Marketing, Dunbar outlined his strategy to strengthen Transact’s technology infrastructure and help advice firms harness artificial intelligence safely within their existing systems.
“We want to be not only the best platform in the market but the platform that builds the best technology and admin ecosystem for advisers,” he said.
The aim is to eliminate re-keying and data fragmentation by allowing information to flow seamlessly between systems, from portfolio creation to client reporting.
Transact is ensuring data can move both into and out of the platform across back-office systems including Intelliflo, Xplan and Curo.
“Advisers want more efficiency, more control of their data and less friction between systems,” he said. “Integration is our biggest focus going forward.”
Rather than developing proprietary AI tools, Dunbar said Transact’s role is to help advisers use their own.
“Our focus is on building the infrastructure that allows advisers to plug in whatever AI tools they choose,” he explained.
“That means ensuring our data can feed into back-office systems where AI can interrogate it, and also that those systems can send instructions back into Transact.”
As part of parent group IntegraFin, Transact has also invested heavily in the back-office CRM system Curo, now rebuilt on Microsoft’s Power Platform.
Dunbar said this provides a “unique opportunity” for advice firms to use AI safely and effectively within their existing Microsoft environments.
“That product sits natively within advisers’ Microsoft systems, fully integrated with Teams, Office and Copilot,” he added.
“It gives firms the ability to automate reporting and compliance tasks securely within their own technology setup.”
Transact’s ownership of its own technology has long supported automation, but Dunbar said the next phase is about expanding that efficiency through better connectivity with external systems.
“Our goal is to make advisers’ lives easier by giving them the tools to serve clients more efficiently,” he said.
“Integration and automation are at the heart of that, enabling advisers to spend less time on admin and more time delivering value.”
He added that more processes are moving fully online, with instructions now flowing through Transact’s systems automatically and without manual intervention.
Supporting advisers under Consumer Duty
Dunbar said Consumer Duty has reinforced the need to assess outcomes across the entire advice value chain. Transact has enhanced reporting, transparency and support for discretionary investment managers to help them demonstrate value for money.
“The FCA’s focus on value for money means things like cash interest have come under greater scrutiny,” he said.
“We pass back all cash interest to clients and have improved disclosure in reports and illustrations. Transparency here is vital.”
Tackling transfer delays
Platform transfer times remain a major industry frustration, and Dunbar believes collaboration is needed to solve it.
“The single biggest issue is overseas funds in Ireland and Luxembourg that still do not support electronic messaging,” he said. “That can delay transfers by weeks or months.”
He praised fund groups such as Dimensional and Vanguard for leading pilots to introduce electronic messaging for their Irish funds and urged others to follow. The second key obstacle, he added, is transfer rejections caused by inconsistent account data.
“As an industry we need better data standards and electronic messaging across the board. That is how we reduce friction for advisers and improve the client experience.”
Value, pricing and loyalty
Dunbar said Transact will maintain its pricing model of annual fee reductions shared across its adviser base.
“We operate a model where growth is shared between shareholders, staff and customers,” he said. “If you price too aggressively, you risk compromising service. We are focused on value and sustainability.”
The platform’s average client charge sits around 23 basis points, and it no longer charges multiple pension-wrapper fees within family groups, a change that has proved popular with advisers.
He acknowledged that adviser loyalty, one of Transact’s long-standing strengths, must continue to be earned.
“We are fortunate to have a loyal following, but we cannot take that for granted,” he said. “We have to keep delivering, listening and responding to what advisers need.”
Since its launch in 2000, Transact has built a reputation for service quality and adviser trust, now managing more than £50bn in assets under direction.
Dunbar, who spent four years shaping the platform’s strategy before taking the top job in March, said the next phase will combine that service heritage with innovation.
“Our vision has not changed, which is to make financial planning easier, but how we deliver on that is evolving fast,” he said.
“By combining personal service with open technology, we can help advisers build efficient, AI-ready businesses for the future.”
