Platform Transact has axed a number of fees after reporting a rise in funds under direction to a record £55bn.

Adviser platform Transact has criticised the approach some other platforms have taken towards cash handling and the use of cash interest.

Staff at adviser platform Transact will start to return to the office from August as the platform pilots a hybrid working model.

Tom Dunbar has been appointed chief development officer at adviser platform Transact’s parent company Integrated Financial Arrangements (Integrafin).