The group published the figures in its Q1 trading update this morning.

In the update it said: “The group has continued to demonstrate solid momentum with continued growth of the Transact platform despite current market conditions.”

During the three month period 1,119 new clients were added to the Transact platform, meaning the company added 4,417 clients over the last 12 months.

Over the year 188 new advisers were registered, increasing the total number of registered advisers to 7,820.

Net inflows to the Transact platform during the three months were £268m, down from £700m in the same period in 2022. Gross inflows for the period were £1,657m, up from £1,469m the previous year.

The average daily funds under direction (FUD) for the quarter was £55.5bn up from £51.5bn in December 2023.

Alex Scott, group chief executive, said: “Despite current market conditions, inflows remain resilient, and we have seen average daily FUD over the quarter increase to £55.5bn, with this being the main driver of group revenues.

“Although the macroeconomic outlook is uncertain, our position in the market remains very strong. The group benefits from consistent recurring revenues and economies of scale."

Integrafin appointed Euan Marshall as group chief financial officer last July and he joined the board as an executive director this month.

Mr Scott said: “I was delighted to welcome Euan Marshall to the group as our new group chief financial officer at the start of January. He brings extensive experience working as CFO of a UK-listed financial services company and is a welcome addition to our leadership team.”