IntegraFin Holdings, the parent company of adviser platform Transact, has reported a 1.9% drop in funds under direction in its second quarter as global markets took a tumble.

Advised platform gross sales exceeded £20bn in every quarter of 2021, according to a new report.

Adviser platform Transact is cutting its annual commission charge from 0.27% to 0.26% from July.

Adviser platform Transact has reported record net inflows of £1.29bn for the first quarter of its financial year.