Wrap firm growing
Nucleus sees rise in profits and AUM
Annual taxable profits were up 21% to £4.3 million on a like-for-like basis while at the end of the year the company managed £11.4 billion for clients, a rise of 23% on the year before. It has since risen to £12.2bn.
Founder and chief executive David Ferguson (pictured), who was appointed a government ambassador to stimulate the fintech sector, said: “This year will see a further increase in investment in our core platform technology, our people and in broadening our user proposition.
“This investment is critical in ensuring we can deliver a regular cycle of platform improvements in 2018 and beyond, as well as widening our range of services.”
Net inflows for the full year totalled £1.1bn, a slight dip on the previous year’s figure of £1.3bn but the firm said this was in line with the decline seen across the advised platform market.