Integrafin, parent company of adviser platform Transact, has reported record funds under direction on the platform of £65.9bn for the three months to the end of December.

The figure climbed 3% during the quarter and rose 14% over the past year.

The group published the figures in its Q1 trading update today. The company also reported a record average daily FUD of £65.5bn for the first quarter, up from £55.5bn over the same three months a year earlier.

The update said net inflows to Transact were £0.9bn, up from £0.3bn in the first quarter of 2024. Net inflows represented 5.7% of opening FUD for the quarter annualised. The quarter also saw the platform's highest ever gross inflows of £2.4bn.

There was growth year on year in the client base on the platform with 238,000 clients registered, up from 231,400.

Alex Scott, IHP group chief executive, said: "The Transact platform has delivered an excellent start to the new financial year, building on the strong momentum seen in H2 FY24. The investment in digitalisation of Transact has contributed to our ongoing appeal to clients and advisers and resulted in strong net inflows.”

He said, uncertainty in anticipation of the UK’s Autumn Budget led to heightened client activity in October. “This affected both inflows and outflows but resulted in minimal impact on net flows in that month. Inflows and outflows have both returned to more normalised levels over the November and December period.”

Mr Scott said the long-term structural growth drivers for the UK adviser platform market remain “positive.” He said the business was “in a strong position to capitalise on future growth.”

In its annual results published last month it said revenue for the year rose 7% to £144.9m.

The company has changed its charges this year to “share the benefits” of scale. It will charge only one pension wrapper fee per pension type in family-linked portfolios, effective from 1 April (annualised cost of £2m) and has already reduced non-advised client charges from 1 January at a cost of £0.6m in (annualised cost of £1m).