This time Maynard Paton and Roland Head discuss the investment potential of investment platforms IntegraFin (IHP), AJ Bell(AJB) and Hargreaves Lansdown (HL), but which one?

IntegraFin (IHP) is an investment platform like Hargreaves Lansdown (HL) and AJ Bell (AJB) but for financial advisers only. IntegraFin was founded in 1999 and is an FTSE 250 company with a co-founder still on the board who is still a significant shareholder.

During this podcast, Maynard and Roland discuss IntegraFin and its reoccurring revenue from management and platform fees comparing them to AJ Bell and Hargreaves Lansdown, who are both looking cheap right now. 

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Timestamps:

0:45 Important announcement about the podcasts hosted by Maynard, Roland, Mark & Bruce.

3:20 What does IntegraFin do and its impressive consistent net inflow of client money.

5:30 Discussing owner management.

6:45 Discussing the valuation and yield.

8:30 Discussing the varying different products on offer.

9:30 Comparing IntegraFin’s client base to AJ Bell

11:15 IntegraFin has a heritage of disruption and being a client champion.

15:30 Comparing the growth of IntegraFin to AJ Bell.

17:45 Discussing IntegraFin’s onshore and offshore bonds.

20:30 Discussing the profit notes in the accounts.

22:00 The top ten companies in this market and how much client money they have.

24:30 Discussing Blackrock who is a 7% shareholder.

27:05 Discussing the 22 billion of client finds that show up in IntegraFin’s accounts.

31:00 Discussing the management of IntegraFin.

35:10 Discussing staff creeping staff costs.

38:00 Discussing room for growth.

39:45 Discussing other growth projects in the pipeline.

41:05 discussing the valuation of IntegraFin.

42:30 Comparing IntegraFin to AJ Bell and Hargreaves Lansdown

45:15 Could these companies become cheaper?

46:15 Closing thoughts and wrap up

Thank you for listening, we hoped you enjoyed the episode.

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