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:
£m
Quarter ended 30 June 2025
Quarter ended 30 June 2024
Financial year to date 30 June 2025
Financial year to date 30 June 2024
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
FGS Global: Mike Turner
+44 7775992415
FGS Global: Chris Sibbald
+44 7855955531
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