Nucleus, the adviser built wrap platform, is pleased to announce it is using its increasing scale and financial performance to reduce prices for clients with larger portfolios. Following a review of core platform pricing, charges for clients with £500,000 and above are to be significantly reduced from 1 July 2017.
The announcement, which was made at the Nucleus annual conference, comes on the back of another highly successful year with increased assets, revenue and profitability. The significant price reduction will apply to all existing core Nucleus users and new business from 1 July 2017 and is designed to ensure those already using the platform benefit from the continued success of the business while also ensuring overall pricing remains highly competitive in the market.
The revised pricing structure, which operates on a tiered basis, is as follows:
|Tiers||Current charge||From 1 July 2017|
|£0 to £499,999||35bps||35bps|
|£500,000 to £999,999||25bps||17.5bps|
Under the new pricing model, a client with a portfolio of £1m will see annual platform costs reduce by 12.5% while a client with a £2m portfolio will see platform costs reduce by 30%.
Barry Neilson, Business Development Director at Nucleus, said: “As an adviser led business we listen carefully to feedback from all Nucleus users. They have been clear that they wanted us to keep our pricing structure simple but become even more competitive at higher portfolio levels. Assets, revenue and profitability have all grown strongly in recent years and this continued financial success has given us a strong foundation to be able to achieve this.
“We are ever mindful of the need to operate a responsible pricing model that reflects the commercial realities of providing a sustainable and financially robust platform while ensuring clients are charged appropriately and benefit from our increasing scale. As an adviser built business we share our users’ desire to deliver the best possible client outcome and it has always been our intention to ensure advisers who use the Nucleus platform, as well as their clients, benefit directly from the continued success of the business.”