Transact parent IntegraFin Holdings issued a trading statement today saying that the group was “performing well” with adjusted pre-tax profit for the year ended 30 September expected to be “moderately above” the top end of analysts’ estimates.

Ian Taylor, co-founder and former CEO of Transact parent Integrafin, has died at the age of 58 after a short illness.

Adviser platform Transact has added a Blackrock-run model portfolio service (MPS) to extend its choice of discretionary investment managers.

Integrafin Holdings, the parent company of adviser platform Transact, is to challenge HMRC’s decision to exclude one of its companies from the UK VAT group.

Adviser platform Transact has reported a record £7.7bn of gross inflows for the year ending 30 September.

The parent company of Transact, the SIPP and platform provider, has been hit with an unexpected £4.3m VAT bill which could also see the company having to pay an additional £1.4m a year in VAT.

Transact chief executive Ian Taylor is to step down as CEO in March after 20 years with the group and will be replaced by two new CEOs.