Q4 Trading Update

IntegraFin Holdings plc

15 October 2024

 

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	[phone]
Media
[e-mail] FGS Global: Mike Turner FGS Global: Chris Sibbald	[phone]                               [phone]

 

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