LEI Number:
213800CYIZKXK9PQYE87
15 October 2024
IntegraFin Holdings plc
Q4
Trading Update
IntegraFin Holdings plc ("IHP" or the "Group") operator of
Transact, the UK's premium investment platform for clients and UK
financial advisers, is pleased to update on performance for the
three months ended 30 September 2024.
The
Group delivered continued momentum with strong net
inflows
Group highlights
· Record
quarter end funds under direction (FUD) on the Transact platform of
£64.1bn, up 3% during the quarter and 17% over the past
year.
· Record
average daily FUD of £63.0bn in Q4 FY24 (Q4 FY23:
£55.0bn).
· Strong
Q4 FY24 flows to the Transact platform, with net inflows of £0.8bn,
and gross inflows of £2.2bn. Net inflows represent 5.1% of opening
FUD for the quarter annualised.
·
Total Group revenue is expected
to be c.£145.0m for FY24 (FY23: £134.9m), driven by higher average
daily FUD in the period.
· A record high
number of advisers registered on the platform growing 5% year on
year to c.8.0k (Q4 FY23: 7.7k), in addition to a further 2% growth
year on year in the client base on the platform with 235.0k clients
registered at Q4 FY24 (Q4 FY23: 230.3k).
· Time4Advice
total chargeable users of CURO software at 3.1k, an 11% increase
over FY23 (2.8k), in addition to operational and software
development progress with the new CURO on Power
Platform.
· Guidance reiterated at interim results HY24 remains unchanged
for FY24 (ending 30 September 2024).
Alex Scott, IHP Group Chief Executive Officer,
commented:
"We have seen continued positive
momentum with another strong quarter of net inflows. This quarter
was the highest of the financial year for net inflows. Despite
macroeconomic challenges and a period of heightened withdrawals in
the sector we have delivered total net inflows of £2.5bn for
FY24.
We have also reached record numbers
of registered clients and advisers, as well as recording over £64bn
of FUD on the platform at year end.
Our consistent growth is a strong
proof point of Transact's long-term attractiveness to advisers
which is grounded in, and driven by, our continued award-winning
service and proprietary technology delivery.
The Group is well positioned for
FY25 as a result of our platform proposition, structural growth
drivers in the adviser platform market, and economic headwinds
gradually receding. However, we remain cautious as we await the
potential impact of the Autumn Budget and the outcome of the US
elections on investor sentiment.
We look forward to providing our
year end results on 18 December 2024."
Transact platform reporting for Q4
FY24
|
£m
|
Quarter
ended 30 September 2024
|
Quarter
ended 30 September 2023
|
Financial
year ended 30 September 2024
|
Financial
year ended 30 September 2023
|
|
Opening FUD
|
62,420
|
54,606
|
54,959
|
50,070
|
|
Inflows
|
2,162
|
1,595
|
8,104
|
6,406
|
|
Outflows
|
-1,370
|
-1,184
|
-5,595
|
-3,753
|
|
Net flows
|
792
|
411
|
2,509
|
2,653
|
|
Market movements
|
838
|
-62
|
6,565
|
2,272
|
|
Other
movements(1)
|
15
|
4
|
32
|
-36
|
|
Closing FUD
|
64,065
|
54,959
|
64,065
|
54,959
|
|
Average daily FUD for the period
(£m)
|
63,044
|
54,964
|
59,628
|
53,638
|
|
Number of registered
advisers
|
8,048
|
7,683
|
8,048
|
7,683
|
|
Number of platform
clients
|
234,998
|
230,294
|
234,998
|
230,294
|
Notes:(1)Includes fees, taxes and investment
income
Transact platform historical information:
|
£m
|
Q1
FY23
|
Q2
FY23
|
Q3
FY23
|
Q4
FY23
|
Q1
FY24
|
Q2
FY24
|
Q3
FY24
|
Q4
FY24
|
|
Opening FUD
|
50,070
|
52,063
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
62,420
|
|
Inflows
|
1,469
|
1,825
|
1,517
|
1,595
|
1,657
|
2,268
|
2,017
|
2,162
|
|
Outflows
|
-769
|
-900
|
-900
|
-1,184
|
-1,389
|
-1,478
|
-1,358
|
-1,370
|
|
Net flows
|
700
|
925
|
617
|
411
|
268
|
790
|
659
|
792
|
|
Market movements
|
1,319
|
994
|
21
|
-62
|
2,786
|
2,196
|
745
|
838
|
|
Other
movements(1)
|
-26
|
-9
|
-5
|
4
|
-3
|
24
|
-4
|
15
|
|
Closing FUD
|
52,063
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
62,420
|
64,065
|
|
Average daily FUD for the period
(£m)
|
51,470
|
53,842
|
54,288
|
54,964
|
55,474
|
58,567
|
61,435
|
63,044
|
|
Number of registered
advisers
|
7,632
|
7,563
|
7,606
|
7,683
|
7,820
|
7,849
|
7,956
|
8,048
|
|
Number of platform
clients
|
226,996
|
228,232
|
229,659
|
230,294
|
231,413
|
231,581
|
234,084
|
234,998
|
Notes:(1)Includes fees, taxes and investment
income.
|
Enquiries:
|
|
|
Investors
|
|
|
Luke Carrivick, IHP Head of Investor
Relations
|
+44 020
7608 5463
|
|
Media
|
|
|
IHP@fgsglobal.com
FGS Global: Mike Turner
FGS Global: Chris Sibbald
|
+44
7775992415
+44 7855955531
|
|
|
|