- Gross inflows up by 5% to £1,025m
- Assets under administration increase 22% to £8.8bn
- Turnover increased to £14.8m, an increase of 33%
- 140% increase in operating profit to £2.4m
Nucleus, the adviser-built wrap platform announces its strongest ever set of H1 2015 financial results, revealing continued growth in income, earnings and assets under administration (AUA).
The platform added over £1bn of new assets in the first six months of 2015 with inflows of £1,025m, up 5% on the same period in 2014 (£973m). Total AUA were up 22% at £8.8bn, from the H1 point last year (£7.2bn).
Turnover increased by 33% to £14.8m for the first half of the year, up from £11.1m in 2014 to return operating profits for the firm of £2.4m in the first six months of 2015.
Nucleus’ strong and steady improvement in performance comes just prior to the platform’s AUA hitting the £9bn milestone this summer, which neatly marked the nine years of trading for Nucleus since its launch by founder and CEO David Ferguson and a team of seven high-quality adviser firms in July 2006. The platform now boasts a user community of over 400 adviser practices across the UK.
Commenting on the wrap platform’s best ever H1 financial results, David Ferguson, says:
“These set of H1 financial results only sharpen our focus to accelerate the momentum of our development programme and to move into 2016 delivering ever-improving service levels for our users. We have already committed to excellence in service delivery, strengthening our business model this year by welcoming a new BPO provider on-board and last week launching our new portfolio planning tool as part of a regular programme of on-going development in the platform.
“Nine years ago, Nucleus was set up with a clear vision to democratise financial services and that goal continues to drive us to this day. As an adviser-built and adviser-owned platform, these financial results for the first half of 2015 – against a backdrop of turmoil in our sector with large scale corporate withdrawals from the UK sitting alongside confirmed takeovers and rumoured sales – are further validation of the strength, value and absolute relevance of our business model.
“The past 12 months have been a really important period of learning and development for us, but with our direction remaining as clear as it ever did, we’re committed to investing even more in our core platform proposition and with our H1 results and new technology foundation set, we’re massively excited about this springboard to an even brighter future.”