LEI Number:
213800CYIZKXK9PQYE87
16 July 2024
IntegraFin Holdings plc
Q3
Trading Update and Board Changes
IntegraFin Holdings plc ("IHP", "the
Group", "IntegraFin" or the "Company"), operator of Transact, the
UK's premium investment platform for clients and UK financial
advisers, is pleased to update on performance for the three months
ended 30 June 2024.
The
Group has delivered robust net inflows and organic
growth
Group highlights
· Record
quarter end funds under direction (FUD) on the Transact platform of
£62.4bn, up 2% during the quarter and 14% over the past
year.
· Record
average daily FUD of £61.4bn in Q3 FY24 (Q3 FY23:
£54.3bn).
· Strong
Q3 FY24 flows to the Transact platform, with net inflows of £0.7bn,
and gross inflows of £2.0bn. Net inflows represent 4.3% of
opening FUD for the quarter annualised.
·
Record number of advisers
registered on the platform growing 5% year on year to c.8.0k (Q3
FY23: 7.6k), in addition to a further 2% growth year on year in the
client base on the platform with 234k clients registered at Q3 FY24
(Q3 FY23: 230k).
· Time4Advice total chargeable users of CURO software at over
3k, in addition to operational and software development progress
with the new CURO on Power Platform.
· Guidance reiterated at
interim results HY24 remains unchanged for FY24 (ending 30
September 2024).
Board Changes
· Christopher Munro
has informed the Board of his intention to retire as a
Non-executive director of the Company with immediate effect for
health reasons. This will be effective on 16 July 2024. The Board
would like to thank Chris for his contribution to the Company over
the last eight years.
·
As a result, Victoria Cochrane
has been appointed to the Remuneration Committee as an interim
member with immediate effect and Rita Dhut will chair the committee
until a new Chair is appointed. The Company is currently
undertaking an external search for a new Non-executive director and
Chair of the Remuneration Committee.
· IntegraFin also announces that Jonathan Gunby has confirmed
his plans to step down from the IHP board on 30 September 2024.
Jonathan will remain CEO of IntegraFin's subsidiary, Integrated
Financial Arrangement Ltd, which operates the Transact
platform.
There is no other information to be
disclosed under Listing Rules 9.6.11 and 9.6.13.
Alex Scott, IHP Group Chief Executive Officer,
commented:
"Once again, our quarterly
performance has demonstrated the resilience of the Transact
platform and the consistent performance of the IntegraFin Group.
Despite challenging ongoing macroeconomic conditions, we have
delivered strong net inflows of £0.7bn and gross inflows of £2.0bn
through the quarter.
We continue to organically grow our
adviser and client numbers. In the third quarter, the number of
clients using Transact passed 234k, with total advisers reaching
c.8k. This underlines our long-term track record of organic growth
on the platform and is testament to our high-quality service and
the wide range of platform functionality.
By remaining focused on our business
model and strategy, the Group is well placed to continue to take
advantage of a growing UK adviser platform market.
Chris Munro has been a source of
sound advice and support to the Company and to me personally
throughout his tenure on the Board. We thank Chris for the time and
commitment he has given to the Company."
Richard Cranfield, Chair of the IHP board,
commented:
"We are most grateful to Chris for
his contribution to the Board and committees since 2016 and wish
him well in his retirement."
|
£m
|
Quarter
ended 30 June 2024
|
Quarter
ended 30 June 2023
|
Financial
year to date 30 June 2024
|
Financial
year to date 30 June 2023
|
|
Opening FUD
|
61,020
|
53,973
|
54,959
|
50,070
|
|
Inflows
|
2,017
|
1,517
|
5,942
|
4,811
|
|
Outflows
|
-1,358
|
-900
|
-4,225
|
-2,569
|
|
Net flows
|
659
|
617
|
1,717
|
2,242
|
|
Market movements
|
745
|
21
|
5,727
|
2,335
|
|
Other
movements(1)
|
-4
|
-5
|
17
|
-41
|
|
Closing FUD
|
62,420
|
54,606
|
62,420
|
54,606
|
|
Average daily FUD for the period
(£m)
|
61,435
|
54,288
|
58,481
|
53,191
|
|
Number of registered
advisers
|
7,956
|
7,606
|
7,956
|
7,606
|
|
Number of platform
clients
|
234,084
|
229,659
|
234,084
|
229,659
|
Transact platform reporting for Q3 FY24
Notes:(1)Includes fees, taxes and investment
income
Transact platform historical information:
|
£m
|
Q4
FY22
|
Q1
FY23
|
Q2
FY23
|
Q3
FY23
|
Q4
FY23
|
Q1
FY24
|
Q2
FY24
|
Q3
FY24
|
|
Opening FUD
|
50,300
|
50,070
|
52,063
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
|
Inflows
|
1,505
|
1,469
|
1,825
|
1,517
|
1,595
|
1,657
|
2,268
|
2,017
|
|
Outflows
|
-785
|
-769
|
-900
|
-900
|
-1,184
|
-1,389
|
-1,478
|
-1,358
|
|
Net flows
|
720
|
700
|
925
|
617
|
411
|
268
|
790
|
659
|
|
Market movements
|
-927
|
1,319
|
994
|
21
|
-62
|
2,786
|
2,196
|
745
|
|
Other
movements(1)
|
-23
|
-26
|
-9
|
-5
|
4
|
-3
|
24
|
-4
|
|
Closing FUD
|
50,070
|
52,063
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
62,420
|
|
Average daily FUD for the period
(£m)
|
52,217
|
51,470
|
53,842
|
54,288
|
54,964
|
55,474
|
58,567
|
61,435
|
|
Number of registered
advisers
|
7,537
|
7,632
|
7,563
|
7,606
|
7,683
|
7,820
|
7,849
|
7,956
|
|
Number of platform
clients
|
224,705
|
226,996
|
228,232
|
229,659
|
230,294
|
231,413
|
231,581
|
234,084
|
Notes:(1)Includes fees, taxes and investment
income.
|
Enquiries:
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Investors
|
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Luke Carrivick, IHP Head of Investor
Relations
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+44 020
7608 5463
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Media
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IHP@fgsglobal.com
FGS Global: Mike Turner
FGS Global: Chris Sibbald
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+44 7775992415
+44 7855955531
|
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