Nucleus lowers platform charge for second time in 18 months

Second annual cut with £10m in savings expected by 2024

Sahar Nazir
clock • 1 min read

Nucleus has reduced the standard annual Nucleus Wrap platform charge by three basis points (bps) for holdings between £200,000 and £500,000.

The reduced rates were implemented from 1 December and marks the second time the firm has cut charges in the last 18 months. In July 2022, the platform provider cut its headline annual platform charge from 35 to 33 bps. The group now expects a total £5m to be saved across 2024. Chief financial officer Mike Regan said: "We have been clear that as we build scale this allows us to invest more in our service, product and price. I'm pleased that we are now sharing the benefit of our increased scale by introducing our second annual rate cut for Nucleus Wrap. "It delivers an improved o...

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 Platforms

Third Financial commits to HNW market in latest platform signing

Third Financial commits to HNW market in latest platform signing

Discretionary wealth firm Mountstone Partners has joined the platform

Isabel Baxter
clock 15 April 2024 • 1 min read
AJ Bell cuts platform fees in bid to enhance competitiveness

AJ Bell cuts platform fees in bid to enhance competitiveness

Includes changes to the platform's annual custody charges

Isabel Baxter
clock 05 April 2024 • 2 min read
Schroders UK Platform Awards 2024: Entries are now open!

Schroders UK Platform Awards 2024: Entries are now open!

This year's awards will have an increased focus on adviser tech stacks

Professional Adviser
clock 03 April 2024 • 1 min read