IntegraFin Holdings, the parent company of adviser platform Transact, has today reported net inflows of £1bn in the first quarter, an 11% year-on-year increase.
The Transact platform achieved a record £77.2bn in FUD at the end of the quarter, up 17% year-on-year.
It recorded a record average daily FUD of £76.1bn in the period while gross inflows reached a record £2.9bn, a 21% increase.
The company said the Transact platform experienced heightened inflows and outflows in the lead up to the Autumn Budget in October and November, caused by elevated pension wrapper activity as clients reacted to extensive pre-Budget speculation.
It said flows have since returned to normalised levels and IntegraFin said the platform “is well-positioned to continue to attract and grow its strong share of adviser platform market net inflows in FY26 and beyond.”
Transact platform reporting for Q1 FY26
|
£m |
Quarter ended 31 December 2025 |
Quarter ended 31 December 2024 |
|
Opening FUD |
74,173 |
64,065 |
|
Inflows |
2,874 |
2,418 |
|
Outflows |
-1,839 |
-1,498 |
|
Net flows |
1,035 |
920 |
|
Market movements |
2,001 |
880 |
|
Other movements(1) |
12 |
15 |
|
Closing FUD |
77,221 |
65,880 |
|
Average daily FUD for the period (£m) |
76,051 |
65,462 |
|
Number of platform clients |
249,907 |
237,978 |
Source: IntegraFin Holdings. Notes:(1) Includes fees, taxes and investment income
Alex Scott, IHP Group chief executive officer, said the group continued to build on strong flows momentum from FY25.
He said: “We remain focused on the three core levers that will drive our earnings growth: enhancing our market-leading proposition; growing the platform's FUD and revenue while focusing on managing platform revenue margin; and finally, implementing our cost and efficiency programme."
Transact platform historical information
|
£m |
Q2 FY24 |
Q3 FY24 |
Q4 FY24 |
Q1 FY25 |
Q2 FY25 |
Q3 FY25 |
Q4 FY25 |
Q1 FY26 |
|
Opening FUD |
58,010 |
61,020 |
62,420 |
64,065 |
65,880 |
65,896 |
69,537 |
74,173 |
|
Inflows |
2,268 |
2,017 |
2,162 |
2,418 |
2,692 |
2,482 |
2,510 |
2,874 |
|
Outflows |
-1,478 |
-1,358 |
-1,370 |
-1,498 |
-1,483 |
-1,271 |
-1,498 |
-1,839 |
|
Net flows |
790 |
659 |
792 |
920 |
1,209 |
1,211 |
1,012 |
1,035 |
|
Market movements |
2,196 |
745 |
838 |
880 |
-1,213 |
2,420 |
3,639 |
2,001 |
|
Other movements(1) |
24 |
-4 |
15 |
15 |
20 |
10 |
-15 |
12 |
|
Closing FUD |
61,020 |
62,420 |
64,065 |
65,880 |
65,896 |
69,537 |
74,173 |
77,221 |
|
Average daily FUD for the period (£m) |
58,567 |
61,435 |
63,044 |
65,462 |
67,148 |
66,847 |
71,942 |
76,051 |
|
Number of platform clients |
231,581 |
234,084 |
234,998 |
237,978 |
241,197 |
244,734 |
246,191 |
249,907 |
Source: IntegraFin Holdings. Notes: (1) Includes fees, taxes and investment income.