Nucleus has boosted assets under administration by 25% year-on-year in the third quarter after a strong summer for gross inflows.
The wrap reported AUA of £7.5bn at the end of the quarter. Net inflows for Q3 were £378m and gross inflows £513m. Gross inflows for the nine months to the end of September rose 15% on the same period last year, totalling £1.5bn. Operating profits also jumped by 46%, to £1.9m. This was in part thanks to a 25% rise in turnover during the quarter, compared to the same time last year. The growth comes after a strong summer for Nucleus, including a record July for gross inflows. Chief executive David Ferguson said the firm is “well placed” to grow market share in 2015: “I am proud we ha...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
