It plans to proceed with an initial public offering with the aim of shares being traded on the London Stock Exchange from March. The company, one of the first to enter the UK wrap platform market, has long been mentioned as a potential takeover target or candidate for an IPO.

The group was founded in April 1999 and launched one of the first UK adviser platforms in March 2000. Transact’s platform currently holds approximately £29.7 billion of funds under direction as at December 2017 and serves more than 150,000 clients on behalf of over 5,100 financial advisers.

Transact believes the additional capital from an IPO will help it benefit from future growth in the platform market driven by the growing demand for financial advice in the UK due to an “increasingly complex investment landscape, pension freedom reforms and strong growth in the UK wealth management market.”

While there are many platform providers serving the Financial Planner market, Transact says it differentiates its proposition by offering a “premium service to clients with more complex needs.”

The company says service to advisers is a priority with 160 client services staff, out of 500 staff in total, focused on adviser support. In recent years the firm has taken steps to reduce charges and make fees more transparent to remain competitive. It has a record of increasing revenue and operating profits over the long term. For the financial year ended 30 September 2017, the group reported 96% of recurring revenues and a profit margin of 47%.

Gross inflows in 2017 were £5.3 billion (48.6% higher than prior year). Funds under direction increased by 13.5% and profits after tax by 44% to £29.9m. The group has paid a dividend and/or bought back shares every year since 2007, returning over £85 million to shareholders over this period.  It has no borrowings and chief executive Ian Taylor has led the group since 2000.

Mr Taylor said: "It is 19 years since our foundation as the UK's first B2B platform company and we are delighted to announce our intention to list on the London Stock Exchange.

“Supported by a growing demand for financial advice, an increasingly complex investment landscape, pension freedoms and strong growth drivers in the UK wealth management market, we believe that we are well-positioned to continue to achieve long-term sustainable growth, returning value to our shareholders, customers and staff alike. We are extremely positive about the future."

Patrick Snowball, company chairman, said: "I believe the business is very well positioned to continue its leadership in the ever-expanding platform market. I look forward to contributing to this next exciting stage and helping IntegraFin to maintain its position as one of the leading B2B platform businesses in the UK."

• Editor's Note: Story updated at 3 pm to clarify that 160 staff are focused on client services support and the total staff number is 500.