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Continued growth at wrap firm

Nucleus sees rise in clients and funds despite slower Q3

David Ferguson

David Ferguson: ‘ the need for financial advice is at its most pronounced’ (pic: Terry Murden)


Nucleus Financial said client numbers grew in the third quarter although asset inflows softened amid market uncertainty.

Even so, assets under administration have grown 8.1% in the nine months to end September and by 14% over the previous year to now stand at £14.7 billion.

Over the first nine months the FTSE All Share Index decreased by 2.2% and the FTSE 100 Index decreased by 2.3%.

Advisers actively using the platform increased to 1,391 at the end of the period, up 5.6% since the start of the year and 7.2% over the last 12 months;

Customer numbers rose by 4.3% since the beginning of the year and 6.4% over the previous 12 months;

David Ferguson, Nucleus’ founder and CEO, commented: “Nucleus has continued to grow with a solid increase in adviser and customer numbers and strong AUA growth, despite the well-referenced market uncertainty that is continuing to impact investor sentiment.

“As a result, Q3 flows were below last year’s all-time high, although still well up on 2016. Alongside the continued growth in assets we are pleased that outflows as a proportion of opening AUA were reduced in the quarter and across the first nine months of 2018 (6.0% v 6.6%).

“Of course, it is in exactly these market circumstances that the need for financial advice is at its most pronounced and we believe the soundness of our business model, our financial health and the ongoing investment we are making in our proposition position us well both now and in the future.”

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