REG - IntegraFin Holdings - 1st Quarter Results

Integrafin HoldingsAnnouncement

17/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230117:nRSQ8939Ma&default-theme=true

RNS Number : 8939M  IntegraFin Holdings plc  17 January 2023

LEI Number: 213800CYIZKXK9PQYE87

 

 

17 January 2023

 

 

IHP Group quarterly update - Q1 of financial year 2023

 

 

 

Group headlines

 

 

·   Resilient net inflows to the Transact platform during the quarter of
£0.7bn, with gross inflows for the quarter of over £1.4bn.

 

·   Continued growth of the Transact platform's adviser and customer base.
As at 31 December 2022 there were over 7.6k registered advisers, and c.227k
clients using the platform.

 

·   Due to the impact of market movements the average daily funds under
direction ('FUD') for the quarter was £51.5bn, whilst in the comparative
quarter of FY22 it was £53.5bn.

 

·   Cost guidance for financial years ending 30 September 2023 and 30
September 2024 remains unchanged (as issued at our year end reporting in
December 2022).

 

 

Transact platform reporting for Q1 FY23:

                                           Quarter ended      Quarter ended

                                         31 December 2022   31 December

                                                            2021

 £m
 Opening FUD                             50,070             52,112
 Inflows                                 1,469              1,976
 Outflows                                -769               -688
 Net Flows                               700                1,288
 Market movements                        1,319              1,207
 Other movements((1))                    -26                -68
 Closing FUD                             52,063             54,539
 Average daily FUD for the period (£m)   51,470             53,514
 Number of registered advisers           7,632              7,278
 Number of platform clients              226,996            213,178

Notes: (1) Includes fees, taxes and investment income.

Time4Advice

 

·      Time4Advice's next generation CURO software is currently live for
beta testing with an adviser firm, and the planned roll out to adviser firms
will commence in the second half of FY23.

 

 

 

Alex Scott, IHP Group Chief Executive Officer, commented:

 

"I am pleased to report another quarter of solid growth for the Transact
platform, maintaining the momentum seen during FY22.

 

Whilst the economic landscape continues to be affected by higher inflation and
economic uncertainty, the advised market remains robust, with clients
continuing to seek financial advice to implement their financial plans and to
mitigate the prevailing economic risks.

 

Net inflows to the Transact platform for this quarter of £0.7bn were
resilient, particularly in light of the economic environment, and were in line
with the fourth quarter of FY22. Outflows for this quarter remained broadly in
line with previous quarters, showing that our clients and their financial
advisers continue to use the platform to support their long term financial
plans.

 

The Transact platform continues to demonstrate growth with new financial
advisers joining the platform and client numbers increasing by over 2.2k
during the quarter. This provides a solid pipeline for ongoing growth in FUD.

 

Overall, our business is performing well and we are continuing to execute on
our strategy. We remain on schedule to commence the roll out of the next
generation CURO software during the second half of FY23. We are resolutely
focused on delivering the highest quality customer service which, together
with our proprietary platform technology, should position us well for ongoing
growth.''

 

 

Transact Platform historical information:

 

 £m                                       Q2       Q3       Q4       Q1       Q2              Q3               Q4

                                          FY21     FY21      FY21    FY22     FY22     FY22             FY22             Q1 FY23

 Opening FUD                              44,824   46,929   50,310   52,112   54,539   53,500           50,300           50,070
 Inflows                                  2,153    1,994    1,967    1,976    2,092    1,703            1,505            1,469
 Outflows                                 -686     -657     -660     -688     -697     -703             -785             -769
 Net Flows                                1,467    1,337    1,307    1,288    1,395    1,000            720              700
 Market movements                         694      2,112    553      1,207    -2,376   -4,152           -927             1,319
 Other movements((1))                     -56      -68      -59      -68      -58      -48              -23              -26
 Closing FUD                              46,929   50,310   52,112   54,539   53,500   50,300           50,070           52,063
                                          45,873   48,677   51,647   53,514   52,551   51,889           52,217           51,470

 Average daily FUD for the period (£m)

 Number of registered advisers            6,962    7,056    7,161    7,278    7,356    7,469            7,537            7,632
 Number of platform clients               201,104  205,532  208,611  213,178  218,787  221,992          224,705          226,996

Notes:

(1)Includes fees, taxes and investment income.

 

 

 

 

Enquiries

 

 Investors
 Luke Carrivick, IHP Head of Investor Relations      +44 020 7608 5463

 

 Media
 Lansons: Tony Langham            +44 (0)7979692287

 Lansons: Maddy Morgan-Williams   +44 (0)7947364578

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  QRFGPUUCGUPWGMQ