Alex Scott, group CEO at Transact's parent company Integrafin
Funds under direction for adviser platform Transact rose 16% over the past year to a new record high of £74.2bn as at 30 September (30 September 2024: £64.1bn).
The platform saw strong net inflows of £4.4bn for the financial year (ended 30 September), a 76% increase on the previous year (2024: £2.5bn), and representing 6.8% of opening assets.
In the fourth quarter alone, Transact saw net inflows of £1bn, a 28% increase year-on-year (Q4 2024: £0.8bn). Gross inflows for the quarter were £2bn.
The number of platform clients rose 5% over the year to 246,191 (30 September 2024: 234,998).
Following a strong final quarter, the platform’s parent firm Integrafin said total group revenue is expected to be 8% higher than in 2024 at around £156.8m (2024: £144.9m).
Alex Scott, group CEO at Integrafin, said the platform’s strong inflows have been driven by its continuing technology enhancements.
He said: “The sustained strength of our gross inflows has been the main driver of our excellent net inflows momentum throughout the year, whilst outflows have remained stable.
“This has been driven by the enhancements we have made to our proprietary technology, particularly through the development of new APIs for the Transact platform. These ongoing enhancements will continue to broaden the appeal of the Transact platform to clients and advisers.”
Earlier this month Transact partnered with adviser software provider Intelliflo to launch a new app to improve adviser efficiency.
The companies say the new app should make it easier for financial advisers to manage contributions and withdrawals.
This latest integration adds to previous tools which provide account opening and fee reconciliation and has been developed by wealth management fintech Sprint Enterprise, supported by its data hub FINIO.
In its latest trading update, Transact said its cost review announced in July is progressing well, with a further update expected to be included in its final 2025 results due to be published on 17 December.
The firm is undertaking a group-wide cost review, which it says will identify enhanced business efficiency and productivity opportunities, deliver savings, and accelerate future earnings growth for Integrafin.
