Nucleus has announced a 113% surge in revenues for the first three months of the year in what was a record quarter for the IFA-owned wrap.
The wrap saw revenues increase to £2,207k during the quarter - an uplift of 113% compared to the same period last year. Assets under administration also increased 15%, taking total AUM to over £2.6bn. Q1 inflows were £366m - a 36% increase from the Q1 2010 figure of £270m and a 16% rise from the £315m recorded in the fourth quarter. The first quarter figures come on the back of what founder David Ferguson (pictured) hailed a "pivotal" year for the business. In 2010, the wrap completed a successful rights issue which generated £15m in new capital and resulted in the group being debt...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes