Nucleus now just "weeks" from profitability

clock

Nucleus CEO David Ferguson has revealed the IFA-owned wrap will be profitable in a matter of weeks and says February has been a stand-out month in terms of inflows.

Ferguson also says three new adviser firms will sign up to the wrap next week taking the total number to 63. Reaching the profitability mark of around £1.2bn will come a little over three years since launch and the Nucleus chief says the landmark is particularly impressive given its low-cost offering. "We are the lowest cost wrap in the market and to be in a cash position in the first half of the year will be great," he says. "We might have reached profitability in the first quarter had the markets not wobbled." "This month will be the best ever month in terms of inflows and there ...

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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read