Platform Transact has reported total Funds Under Direction for Q4 rose by nearly £5bn year on year to hit a record £54.9bn, according to figures released today by parent company Integrafin Holdings plc (IHP).

Platform Transact saw funds under direction drop in the latest quarter by £2bn compared to the same period a year earlier, according to quarterly figures out today.

Adviser platform Transact has reported net inflows during the quarter to the end of September of £720m, down from £1.3bn on the same period in 2021.

Adviser platform Transact saw net inflows of £1bn for the quarter ended 30 June as net inflows and assets dropped for the platform year on year.