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
Signup and gain exclusive members-only insights
- 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
