Ferguson positive

Nucleus withstands pressures to report 13.1% AUA growth

David Ferguson

David Ferguson: ‘momentum continued’ (pic: Terry Murden)

Wrap platform Nucleus withstood shifts in the sector and wider uncertainty to increase its assets under administration (AUA) for the third quarter.

AUA rose 6.8% to £15.7 billion as at 30 September on the same period last year and by 13.1% year-to-date. The FTSE All-Share Index fell by 1.6% year-on-year and increased 10.5% year-to-date. 

Gross inflows increased for the third consecutive quarter to £490m while net inflows remain steady with both Q2 and Q3 net inflows at £111m.

Advisers actively using the platform increased 2.1% year-on-year to 1,38 and customer numbers increased 3.6% year-on-year to 95,373

The firm has continued to invest in its core product with the implementation of new functionality within its customer portal, ‘Nucleus Go’ and post the reporting period, the implementation of new paperless correspondence options for customers.

It said continued investment in platform development during Q4 is due to deliver new trading functionality, bulk switching capability, a faster payments service for withdrawals and new telephony infrastructure 

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