Nucleus sees AUM soar

David Ferguson

By comparison, the FTSE All-Share Index grew by 2.2 per cent over Q1 2018 and 8.3% over the quarter.

Other highlights from the firm’s Q1 report include:

• Gross inflows increased marginally against the prior quarter with momentum improving in the run up to the tax year end
• Advisers actively using the platform increased marginally to 1,376 over Q1 2018
• Customer numbers rose to 94,144, an increase of 5.3% over Q1 2018 and 0.5% over the previous quarter
• Further significant platform upgrade successfully completed in Q1
• Launch of new Junior Isa product and beta launch of Nucleus Go, an improved client portal
• Shortlisted for Money Marketing’s Company of the Year and Best Platform 2019

David Ferguson, Nucleus’ founder and CEO, said: “It was pleasing to see AUA levels increase in excess of 9 per cent year-on-year compared to a FTSE All-Share increase of 2.2 per cent in the same period. Gross inflows steadied quarter-on-quarter, building momentum throughout the period, particularly in the run up to the tax year end.”

“We completed a change to our technology and BPO services model in Q4 2018 with the intention that this will improve our change velocity and I’m pleased to report that Q1 has borne this out with a significant upgrade to the core platform software, the launch of our new Junior Isa product,  and the beta launch of our new client portal, Nucleus ‘Go’ all successfully completed in the quarter. We also completed our Mifid II regulatory costs and charges disclosure after the reporting period in April 2019 and are looking forward to building on this change momentum throughout the year.”