The number of advisers using Transact grew last year, with the company announcing pre-tax profits today of £16.9m for the year to 30 September 2013. The number of registered advisers grew from 5,700 to 6,300 and the number of clients rose from 99,000 to 106,000. The platform's profits have risen from £14.7m in September 2012 and assets under administration grew to £14.3bn from £12bn. Turnover increased to £55.5m from £49.6m. Gross inflows averaged £185m per month in 2013, up from £152m in 2012. {desktop}{/desktop}{mobile}{/mobile} The Transact Strategic Report stated: "The year ending September 2013 was a strong year evidenced by the uplift in gross inflows, including some of the business' strongest inflow months since inception. Financial markets recovered in 2013, and this was also a factor in funds under direction growing by 20%. "The strategy of the business continues to be the provision of a range of wrappers and access to products to advisers and clients." The key indicators of performance were the growth in client and adviser numbers and growth in funds under direction, the company said. The company said it would be developing new wrappers and processes where necessary to meet changes in "the personal taxation landscape". At the end of the year consolidated shareholders' funds stood at £67.94m. Transact is a corporate member of the IFP.
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