Transact has reported record pre-tax profits for 2014 as it gains 10,000 new clients.
In its full-year results for the year ended 30 September 2014, the platform recorded pre-tax profits of £17.8m, up from £16.9m in 2013. Funds under direction increased by 20% from £14.3bn to £17.1bn while monthly gross inflows of £259m, up from £185m in 2013, were the strongest since the firm's inception 14 years ago. The number of registered advisers using the platform increased from 6,300 to 7,000 while the number of clients grew from 106,000 to 116,000. Transact paid two interim dividends in 2014 totalling £10 per share. The company, led by chief executive Ian Taylor (pictu...
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