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Transact profits up 14% to £16.9m

Transact has announced pre-tax profits of £16.9m for the year to 30 September 2013 as assets under administration grew to £14.3bn.

The platform’s profits are up 14 per cent from £14.7m the previous year.

Over the year, AUA grew by 20 per cent from £12bn to £14.3bn, partly due to growth in financial markets.

Administrative expenses rose by 11 per cent from £34.7m to £38.7m, while turnover increased to £55.5m from £49.6m.

The number of registered advisers increased from 5,700 to 6,300, while client numbers rose from 99,000 to 106,000. 

Transact chief executive Ian Taylor says: “Over the year, we have continued to build on our reputation and it has been a better year than 2012. 

“After the RDR rules, more advisers have been looking for a platform that has experience of operating under post-RDR conditions. We have been working to RDR rules for the past 14 years.” 


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The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes which took place during March 2014. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity. Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.


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