Nucleus, the IFA-owned and controlled wrap, has seen a surge of inflows onto the platform take total assets under administration to over £1bn.
The platform, which opened for business less than three years ago, reached the milestone earlier this week following a record period of inflows that will see the business record its first ever £200m quarter.
Launched at the end of 2006 with the backing and support of seven founding IFA firms the multi-award winning platform has quickly established itself as a leading player in the independent wrap space with a reputation for being totally aligned to the interests of high quality IFAs and their clients. In the process of signing up its 60th member-firm the platform currently has 352 IFA users who together service over 10,000 clients through the wrap.
Commenting on the milestone, David Ferguson said:
“To have broken the magical £1bn barrier in less than three years is a huge achievement for the business, especially in the current economic climate, and keeps us well on track to break even. What is particularly pleasing is that every month is a record breaking month for us, not just in terms of the volume of assets coming onto the platform and the number of advisers using it but also in terms of the richness of the conversation amongst our IFA group. There is no question that the vision we had all those years ago is becoming reality.”