Wrap platform grows
Nucleus enjoys uplift in assets under administration
David Ferguson: ‘enhancements’
Nucleus, the financial wrap platform provider, has grown assets under administration by 2.8% to £16.1 billion over the three months to 31 December over the previous quarter.
The figure is up 16.3% year-on-year. By comparison, the FTSE All-Share Index increased 3.3% on the last quarter and 14.2% year-on-year.
Gross inflows increased for the fourth consecutive quarter, to £497m, a 7.6% increase on the fourth quarter of 2018
Net inflows showed a marked improvement on the previous quarter, increasing 37.8% to £153m (Q3 2019: £111m)
Advisers actively using the platform increased 3.8% on the last quarter and 3.3% on Q4 2018, to 1,442
Customer numbers increased 1.6% on the last quarter and 3.4% on Q4 2018, to 96,857
Continued investment in platform development delivered significant new trading functionality and improved bulk switching capability, and the Edinburgh-based company completed successful live testing of new telephony infrastructure.
David Ferguson, founder and CEO, commented: “We’re really pleased with the 16.3% increase in AUA over the last twelve months and, in particular, to post a fourth successive quarter of gross inflow growth, especially against the backdrop of investor uncertainty during most of 2019.
“It was especially pleasing to see net inflows improve in the last quarter – these had held steady across Q2 and Q3 but increased by 37.8% in Q4. While still early days, this positive momentum has continued into the new year and we feel well-positioned to build on this.
“Q4 saw further significant investment in the business with new functionality that allows the placing of multiple trade instructions at the same time, a process our users tell us will save considerable processing time.
“Further enhancements included improved bulk switching capability, enabling more efficient adviser performance, and the successful live testing of new telephony infrastructure.
“Each of these enhancements has resulted in improved service delivery, engagement with users and resilience.”