Nucleus reveals record inflows and strong Q1 results
- Gross inflows for first three months of 2015 total a record £510m
- Assets under administration increase 28% to £8.7bn compared with same period last year
- Turnover increased in first three months of 2015 to £6.8m, an increase of 28% on same period last year
- First quarter profit before tax stands at £564k
Nucleus, the adviser-built wrap, has announced its Q1 YTD trading results following the posting of its record-breaking full year results for 2014 which revealed profit before tax of £2.5m.
Gross inflows for Q1 YTD totalled £510m, up 6% from the same period in 2014 (£481m) with end-Q1 assets under administration reaching £8.7bn, up 28% from the same period in 2014 (£6.8bn).
The further uplift in assets saw turnover for Q1 YTD increase by 28% to £6.8m, up from £5.3m from the same period in 2014 which led to a significant 26% increase in profit before tax for Q1 YTD to £564k.
David Ferguson, Nucleus founder and chief executive, comments:
“Our strong trading results for the first quarter of the year is simply a reflection of the success of our adviser community who share our core purpose of putting the client at the heart of everything we do. As an adviser-built platform, this very positive start to the year is further validation of our collaborative-working business model.
“The past 12 months have been a hugely important period of development for us and now that we’re operating on the latest platform technology and with a broader and more experienced management team than ever before, we remain massively excited about what the future holds for the business.
“Alongside this sound foundation, results just in from our adviser annual census for 2015 reveal confidence about the future of advisers’ own businesses remains extremely high with an overwhelming 100 per cent of our users being ‘confident’ about the future.
“These results give us all the motivation and incentive we need to continue our relentless pursuit to transform this industry and create better outcomes for clients and their advisers.”