Nucleus halves annual losses as assets top £3bn

clock

Wrap provider Nucleus has reported an operating loss of almost £1m for 2011 as the group invested in its proposition.

Assets under administration in 2011 increased by £1bn to £3.2bn, with inflows up 22% to £1.4bn (2010: £1.2bn) and revenue up 73% to £9.7m (2010: £5.6m). Nucleus Financial Group chairman Paul Bradshaw said the wrap's losses, which fell 43% to £0.97m, compared to £1.7m in 2010, were due to investment and market unease. "The 2011 operating loss was in line with expectations, primarily reflecting significant further strategic investment in the business, but also the volatile capital markets," he said. "These results reflect another key year for Nucleus and the growing number of adviser...

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

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
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read