IntegraFin Holdings (IHP) Trading Update summary

Trading performance and financial highlights

• Achieved record quarter-end funds under direction (FUD) of £62.4bn, up 2% in the quarter and 14% year-on-year.

• Net inflows reached £0.7bn, with gross inflows of £2.0bn in Q3 FY24; net inflows annualized at 4.3% of opening FUD.

• Average daily FUD for Q3 FY24 was £61.4bn, compared to £54.3bn in Q3 FY23.

• Number of registered advisers grew 5% year-on-year to approximately 8,000; client base increased 2% to 234,084.

• Guidance for FY24 remains unchanged as previously stated at the interim results.

Platform and operational updates

• Transact platform continues to show resilience and consistent performance despite challenging macroeconomic conditions.

• Time4Advice's CURO software surpassed 3,000 chargeable users, with ongoing development on the Power Platform.

• Organic growth in adviser and client numbers underlines the platform's long-term track record.

Board and management changes

• Christopher Munro retired as Non-executive Director effective 16 July 2024 due to health reasons.

• Victoria Cochrane appointed interim member of the Remuneration Committee; Rita Dhut to chair until a new Chair is found.

• Jonathan Gunby to step down from the IHP board on 30 September 2024 but will remain CEO of Integrated Financial Arrangement Ltd.