Nucleus Financial CEO David Ferguson has said he believes the wrap has hit "sustained profitability" after it posted record first-half profits.
The business, launched in 2006 and 51%-owned by the IFA firms that use it, made an operating profit of £500,000 in the first six months of the year.
Nucleus first hit profitability just over a year ago after making £31,000 in the first quarter of 2012. In the second half of last year, the wrap recorded £100,000 profits.
Turnover increased by 39% to reach £8.8m, while assets under administration grew 38% to £5.3bn, compared with June 2012.
Ferguson [pictured] said he believed advisers were waking up to the benefits of using "modern" platforms.
"While 2012 was another hugely important year for Nucleus - with the business posting its first ever full-year profit - it now seems certain that 2013 will see further profit growth and will be a defining year for the platform," he added.
"The combination of a brilliant, platform-experienced team, our rapidly growing community of high quality adviser-users and a sound financial base seems to be compelling and means we are now perfectly positioned to further accelerate our growth.
"It's particularly great to be able to do that without a £150m or £200m hole in our P&L reserve!"
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