TIDMIHP
RNS Number : 8939M
IntegraFin Holdings plc
17 January 2023
LEI Number: 213800CYIZKXK9PQYE87
17 January 2023
IHP Group quarterly update - Q1 of financial year 2023
Group headlines
-- Resilient net inflows to the Transact platform during the
quarter of GBP0.7bn, with gross inflows for the quarter of over
GBP1.4bn.
-- Continued growth of the Transact platform's adviser and
customer base. As at 31 December 2022 there were over 7.6k
registered advisers, and c.227k clients using the platform.
-- Due to the impact of market movements the average daily funds
under direction ('FUD') for the quarter was GBP51.5bn, whilst in
the comparative quarter of FY22 it was GBP53.5bn.
-- Cost guidance for financial years ending 30 September 2023
and 30 September 2024 remains unchanged (as issued at our year end
reporting in December 2022).
Transact platform reporting for Q1 FY23:
GBPm Quarter Quarter
ended ended
31 December 31 December
2022 2021
------------------------------- ------------- -------------
Opening FUD 50,070 52,112
Inflows 1,469 1,976
Outflows -769 -688
Net Flows 700 1,288
Market movements 1,319 1,207
Other movements(1) -26 -68
------------------------------- ------------- -------------
Closing FUD 52,063 54,539
------------------------------- ------------- -------------
Average daily FUD for the
period (GBPm) 51,470 53,514
------------------------------- ------------- -------------
Number of registered advisers 7,632 7,278
Number of platform clients 226,996 213,178
------------------------------- ------------- -------------
Notes: (1) Includes fees, taxes and investment income.
Time4Advice
-- Time4Advice's next generation CURO software is currently live
for beta testing with an adviser firm, and the planned roll out to
adviser firms will commence in the second half of FY23.
Alex Scott, IHP Group Chief Executive Officer, commented:
"I am pleased to report another quarter of solid growth for the
Transact platform, maintaining the momentum seen during FY22.
Whilst the economic landscape continues to be affected by higher
inflation and economic uncertainty, the advised market remains
robust, with clients continuing to seek financial advice to
implement their financial plans and to mitigate the prevailing
economic risks.
Net inflows to the Transact platform for this quarter of
GBP0.7bn were resilient, particularly in light of the economic
environment, and were in line with the fourth quarter of FY22.
Outflows for this quarter remained broadly in line with previous
quarters, showing that our clients and their financial advisers
continue to use the platform to support their long term financial
plans.
The Transact platform continues to demonstrate growth with new
financial advisers joining the platform and client numbers
increasing by over 2.2k during the quarter. This provides a solid
pipeline for ongoing growth in FUD.
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 FY23. 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.
"
Transact Platform historical information:
Q2 Q3 Q4 Q1 Q2 Q3 Q4
GBPm FY21 FY21 FY21 FY22 FY22 FY22 FY22 Q1 FY23
---------------------------- -------- -------- -------- -------- -------- ------------ ------------ ----------
Opening FUD 44,824 46,929 50,310 52,112 54,539 53,500 50,300 50,070
Inflows 2,153 1,994 1,967 1,976 2,092 1,703 1,505 1,469
Outflows -686 -657 -660 -688 -697 -703 -785 -769
Net Flows 1,467 1,337 1,307 1,288 1,395 1,000 720 700
Market movements 694 2,112 553 1,207 -2,376 -4,152 -927 1,319
Other movements (1) -56 -68 -59 -68 -58 -48 -23 -26
----------------------------
Closing FUD 46,929 50,310 52,112 54,539 53,500 50,300 50,070 52,063
---------------------------- -------- -------- -------- -------- -------- ------------ ------------ ----------
Average daily FUD for
the period (GBPm) 45,873 48,677 51,647 53,514 52,551 51,889 52,217 51,470
---------------------------- -------- -------- -------- -------- -------- ------------ ------------ ----------
Number of registered
advisers 6,962 7,056 7,161 7,278 7,356 7,469 7,537 7,632
Number of platform clients 201,104 205,532 208,611 213,178 218,787 221,992 224,705 226,996
---------------------------- -------- -------- -------- -------- -------- ------------ ------------ ----------
Notes:
(1)Includes fees, taxes and investment income.
Enquiries
Investors
Luke Carrivick, IHP Head of Investor
Relations +44 020 7608 5463
Media
Lansons: Tony Langham +44 (0)7979692287
Lansons: Maddy Morgan-Williams +44 (0)7947364578
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