Transact unveils charge reductions amid good growth for parent firm

Adviser users and total platform clients both increased in 2023

Hope Coumbe
clock • 2 min read

Increased adviser users and client numbers alongside ‘resilient’ inflows at Transact during 2023 have seen its parent company IntegraFin end the year on a positive note.

Full year results for the firm, published today (14 December), reveal a slump in net new business flows for Transact have been countered by solid growth in adviser users and total client numbers on the platform. "Inflows fell across the whole advised retail sector due to the cost-of-living crisis, which diminished the available income for investment," IntegraFin group chief executive (CEO) Alexander Scott said. Gross inflows fell during the year as a consequence of this, while funds under direction rose £5bn this year to reach £55bn. Net new business inflows for 2023 were £2.7bn, down...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Platforms

Schroders UK Platform Awards 2024: Voting closes 26 July!

Schroders UK Platform Awards 2024: Voting closes 26 July!

Awards to be held on 24 September at the London Hilton Park Lane

Professional Adviser
clock 09 July 2024 • 1 min read
Schroders UK Platform Awards 2024: Adviser entries open!

Schroders UK Platform Awards 2024: Adviser entries open!

Awards to be held on 24 September at the London Hilton Park Lane

Professional Adviser
clock 14 June 2024 • 2 min read
Why advice firms should outsource their platform due diligence

Why advice firms should outsource their platform due diligence

‘It's really time consuming to do it on an individual firm basis’

Isabel Baxter
clock 07 June 2024 • 5 min read