REG - IntegraFin Holdings - Q3 Trading Update

Integrafin HoldingsAnnouncement

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RNS Number : 0015R  IntegraFin Holdings plc  15 July 2025

 

LEI Number: 213800CYIZKXK9PQYE87

 

15 July 2025

 

IntegraFin Holdings plc

 

Q3 Trading Update

 

Very strong net inflows and commencement of a Group-wide cost review

 

IntegraFin Holdings plc ("IHP" or the "Group"), 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 2025.

 

Group highlights

 

·    Strong Q3 FY25 net inflows to the Transact platform of £1.2bn, up 84%
compared to Q3 FY24 (£0.7bn), and the 4th successive quarter of growth in
quarterly net inflows. This represents 7.4% of opening funds under direction
(FUD) for the quarter annualised, driven by ongoing strong gross inflows and a
reduction in outflows. Net flows in the financial year to 30 June 2025 are up
95% on the prior year.

 

·      Quarter end FUD on the Transact platform of £69.5bn, up 11% over
the past year.

 

·      Average daily FUD on the platform of £66.8bn in Q3 FY25 (Q3
FY24: £61.4bn).

 

·      Continued strong gross inflows to the platform in Q3 FY25 of
£2.5bn (Q3 FY24: £2.0bn).

 

·     Growing client base on the platform with 244.7k clients registered at
Q3 FY25, a 5% increase over the past year (Q3 FY24: 234.1k).

 

 

Outlook and guidance

·     Strong momentum in our net inflows is expected to continue through Q4
FY25 and into FY26.

 

·    Continued confidence that Transact will attract and grow a strong
share of adviser platform market net inflows in current and future years
driven by the platform proposition's strengths in technology, service, and
pricing.

 

·    We are actively focused on managing our revenue margin. In FY26 we
expect the reduction in platform revenue margin to slow, with any decrease
driven by the impact of positive market movements as client FUD moves into
lower charging bands. The Transact platform revenue margin in Q3 FY25 was
22.4bps.

 

·   We are undertaking a Group-wide cost review, which will identify
enhanced business efficiency and productivity opportunities, deliver savings,
and accelerate future earnings growth for IntegraFin. A further update will be
provided at the FY25 results in December. Based on the current stage of
review, our updated cost guidance is as follows:

 

 

§ FY25 remains unchanged at c.9% cost growth for total underlying
administrative expenses

§ FY26 and FY27 total underlying administrative expenses cost growth likely
to slow to low single digit percentage (previously low to mid-single digit
percentages)

 

 

Alex Scott, IHP Group Chief Executive Officer, commented:

 

"The Q3 results demonstrate growing momentum in the business as the Transact
platform continues to deliver excellent gross and net inflows. Net inflows
surpassed £1.2bn for the second consecutive quarter and increased by 84% from
the prior year comparative (Q3 FY24), making it one of the best Q3
performances in our history. Additionally, it is pleasing to see that outflows
in Q3 declined to their lowest level since Q4 FY23.

 

Over the past year, we have consistently taken over 20% market share of net
inflows to the UK adviser platform market*. We are delivering strong gross
inflows of over £2bn each quarter, as we continue to win more business from
competitors and as advisers are drawn to our best-in-class service and
technology.

 

In addition to delivering excellent net inflows momentum, we are also actively
focused on setting ourselves up for sustainable future success and as a result
we have commenced a Group-wide cost review. Doing so will unlock further
efficiency and productivity enhancements, which have been made possible by the
recent and ongoing programme of investment in technology across the Group. We
will generate cost savings whilst continuing to invest in the business and
delivering the excellent customer service to clients and advisers that is the
foundation of our proposition. We look forward to sharing more detail at the
FY25 results.

 

I am confident that this cost review, alongside the delivery of our strategic
initiatives, will put IntegraFin in the best position to deliver growing
operating returns from the compelling opportunity that lies ahead."

 

*Source: Fundscape reports Q124 May 2024 - Q125 May 2025

 

 

Transact platform reporting for Q3 FY25:

 

                                         Quarter ended 30 June 2025  Quarter ended 30 June 2024  Financial year to date 30 June 2025  Financial year to date 30 June 2024

 £m
 Opening FUD                             65,896                      61,020                      64,065                               54,959
 Inflows                                 2,482                       2,017                       7,592                                5,942
 Outflows                                -1,271                      -1,358                      -4,252                               -4,225
 Net flows                               1,211                       659                         3,340                                1,717
 Market movements                        2,420                       745                         2,087                                5,727
 Other movements((1))                    10                          -4                          45                                   17
 Closing FUD                             69,537                      62,420                      69,537                               62,420
 Average daily FUD for the period (£m)   66,847                      61,435                      66,479                               58,481
 Number of platform clients              244,734                     234,084                     244,734                              234,084

 

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

 

 

Transact platform historical information:

 £m                                      Q4 FY23  Q1 FY24  Q2 FY24  Q3 FY24  Q4 FY24  Q1 FY25  Q2 FY25  Q3 FY25
 Opening FUD                             54,606   54,959   58,010   61,020   62,420   64,065   65,880   65,896
 Inflows                                 1,595    1,657    2,268    2,017    2,162    2,418    2,692    2,482
 Outflows                                -1,184   -1,389   -1,478   -1,358   -1,370   -1,498   -1,483   -1,271
 Net flows                               411      268      790      659      792      920      1,209    1,211
 Market movements                        -62      2,786    2,196    745      838      880      -1,213   2,420
 Other movements((1))                    4        -3       24       -4       15       15       20       10
 Closing FUD                             54,959   58,010   61,020   62,420   64,065   65,880   65,896   69,537
 Average daily FUD for the period (£m)   54,964   55,474   58,567   61,435   63,044   65,462   67,148   66,847
 Number of platform clients              230,294  231,413  231,581  234,084  234,998  237,978  241,197  244,734

 

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

 

 

 

 

 

 

 

 Enquiries:
 Investors
 Luke Carrivick, Investor Relations Director   +44 020 7608 5463
 Media
 IHP@fgsglobal.com (mailto:IHP@fgsglobal.com)
 FGS Global: Mike Turner                       +44 7775992415
 FGS Global: Chris Sibbald                     +44 7855955531

 

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