(Alliance News) - IntegraFin Holdings PLC on Tuesday reported a rise in funds under direction during the three months that ended December 31, the company financial first quarter, while the number of financial advisers using its platform increase from a year before.
Integrafin is a London-based holding company for UK wrap platform Transact, which offers financial planning infrastructure to independent financial advisers for investing client assets.
Funds under direction were GBP52.06 billion on December 31, up 4.0% from GBP50.07 billion at the start of the quarter but down 4.5% from GBP54.54 billion a year before.
The company said "the impact of market movements" affected its FuD compared to a year before. The daily average was GBP51.47 billion in the first quarter, 3.8% down from GBP53.51 billion a year prior.
Inflows in the first quarter were GBP1.47 billion, down from GBP1.98 billion a year prior. Outflows increased to GBP769 million from GBP688 million. Positive market movement added GBP1.32 billion in the recent quarter, down from GBP1.21 billion a year ago.
Meanwhile, the number of registered advisers on the platform as at December 31 rose by 4.9% to 7,632 from 7,278 a year before.
IntegraFin Holdings Chief Executive Officer Alex Scott said: "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 financial year 2023. 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. "
IntegraFin Holdings shares were 0.7% higher at 321.40 pence each in London on Tuesday morning.
By Tom Budszus, Alliance News reporter
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IntegraFin Holdings (IHP)