Integrafin, parent company of adviser platform Transact, has reported advised client numbers climbed to a record 229,000 in the three months to the end of June.

Adviser platform Transact has criticised the approach some other platforms have taken towards cash handling and the use of cash interest.

Integrafin, parent company of platform Transact, suffered a near £4m fall in IFRS pre-tax profit in the half year to 31 March as it was hit by rising costs and adverse markets.

Platform Transact has embargoed staff leave for several weeks to cope with the end of tax year rush.

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.

Adviser platform Transact has launched a training academy for new staff as it aims to restore its service levels to previous standards.

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.

Net inflows for adviser platform Transact rose 16% to £2.68bn in the six months ending 31 March.