Nucleus nears profitability after strong Q2

The Edinburgh-based wrap attracted £397m of new business during the quarter - a 40% increase on last year - and is now just £9m short of boasting £3bn assets under management, four-and-a-half years since launch. CEO David Ferguson (pictured) said the wrap is on target to hit sustained profitability by the back-end of Q3. The bumper half-year has seen a host of new IFAs sign up to Nucleus and Ferguson said the wrap is currently holding discussions with around 180 firms. "We signed up 50% more firms in the first half of this year than we did in the whole of last year," he said. He...