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Momentum building

Nucleus sees uplift in assets under administration

David FergusonNucleus Financial, the wrap platform for financial advisers, grew assets under administration in the first quarter by 9.1% year on year, beating the FTSE-All Share index which rose 2.2%.

AUA stood at £14.8bn as at 31 March against £13.6 bn in the corresponding quarter last year and were  6.3% higher on the previous quarter.

David Ferguson, Nucleus’ founder and CEO, commented: “Gross inflows steadied quarter-on-quarter, building momentum throughout the period, particularly in the run up to the tax year end.”

The figures show an uplift after the effects of market turbulence in last year’s figures. Assets under administration grew by £2.4bn during 2017 but by just £300m last year.

Nucleus provides independent wrap platform services to 1,370 active adviser users and works with more than 870 financial adviser firms as at 31 March 2019. Its advisers represent more than 94,000 customers.

 



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