Transact’s efforts to attract new advisers has seen registered clients grow 4 per cent to 241,000.
Parent company Integrafin’s half year results show Transact’s net inflows were £2.1bn for the six months to March 31, up from £1.1bn in the same period of 2024.
The interim update read: “Global equity market volatility in April 2025 adversely impacted Transact funds under direction resulting in average daily FUD for April of £64.4bn.
“FUD as at 30 April was £65.8bn; alongside the ongoing recovery in global equity indices, FUD has continued to improve as May has progressed.”
Funds under direction closed the period at £65.9bn, up from £61bn the previous year.
Alexander Scott, IHP group chief executive officer, said: “It has been a strong start to the year with substantial growth across our key financial metrics, increasing revenue by 10 per cent and underlying profit before tax by 13 per cent.
“Our diligent approach to client service and regular enhancements to the Transact platform’s proprietary technology, remain key to our competitive position.”
He said the firm is committed to developing the Transact platform to deliver “meaningful efficiencies” for advice firms.
Scott added: “In March, we also marked the 25th anniversary of the first assets being placed on the Transact platform.
“In that time, our client-centric approach and focus on innovation have driven us to become a leading provider and operator in the sector.
“This milestone is an opportunity to reflect and to continue to focus on our strategy: to deliver leading financial adviser software, personal service and value for money.”
Analysts from Peel Hunt said today’s (May 21) results were ahead of their expectations.
In April the analysts downgraded its expectations following a lower level of funds under direction than previously assumed.
However today’s statement shows it recovered in April and has since improved.
Peel Hunt analysts Stuart Duncan and Stephen Payne wrote: “Importantly, market volatility has had little impact on the flows dynamic, with the good momentum seen in the previous quarter continuing.
“There is no change to cost guidance at this point, which suggests that operational leverage will re-assert in FY26 as cost growth slows.”
It has made no changes to assumptions at this point and forecasts profits before tax of £72mn and the next opportunity to update forecasts will come in July.
The analysts added: “There is no change to our view of the investment case: the attractive long-term structural growth of the platform sector, high quality earnings (IHP continues to be unique in having no exposure to client interest income), and strong cash generation.
“We maintain our target price of 385p and continue to see IntegraFin as offering long-term value.”
tara.o’connor@ft.com
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