Transact has reported record level inflows on the back of its platform enhancement.
Gross inflows rose from £1.7bn to £2.4bn, while net inflows were also up from £0.3bn to £0.9bn in the first quarter of the year.
The latter represents 5.7% of opening funds under direction (FUD) for the quarter.
The platform tech provider’s FUD rose from £55.5bn to £65.9bn, which is up 3% during the past three months and 14% over the year.
The results were announced today (14 January) by parent company, IntegraFin Holdings (IHP).
It said the performance builds on the strong results in the previous quarters.
IHP group chief executive, Alex Scott, said: “We are pleased that the Transact platform has delivered an excellent start to the new financial year, building on the strong momentum seen in second half of 2024.
“This quarter also saw the platform’s highest ever gross inflows of £2.4bn, as advisers were attracted to our market-leading service and continued functionality enhancements.”
Transact also reported growth in its platform client base, with a total of 237,978 customers.
Last year, it announced its digitalisation programme to improve the user experience for its clients and advisers.
“The investment in digitalisation of Transact has contributed to our ongoing appeal to clients and advisers and resulted in strong net inflows for the quarter of over £0.9bn,” added Scott.
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