Wrap platform Nucleus has turned a quarterly profit for the first time.
The business, launched in 2006 and 51%-owned by the IFA firms that use it, made a £31,000 profit in Q1.
This compared to a loss of £371,000 in the same quarter last year.
Quarterly turnover is up 50% year-on-year to over £3m, it said, while assets are now more than £3.8bn. Some 26 advisory businesses also joined in the first three months of this year.
Founder and CEO David Ferguson (pictured) said: "We've flirted with profitability in the past but this time it's different - this is the start of a long-term relationship.
"To [now] be debt-free and profitable makes this a big moment for the business."
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