Nucleus inflows drive half-year profits to £1m

clock

Wrap Nucleus saw £725m of inflows in the six months to 30 June, with profits jumping 85% as the platform grew its market share.

Nucleus saw its inflows increase from £612m in the first half of 2013, helping the platform increase assets under administration by roughly a third compared to the same time last year, at £7bn. Turnover also climbed 26% year-on-year, to £11.1m. The increase in inflows and AUM drove a huge jump in first half operating profit, which hit £1m. If the platform's growth continues at the same pace for the rest of the year, profits look set to eclipse last full year's £1.7m.  Chief executive David Ferguson added July - outside the scope of the report - was Nucleus' best ever month for gross i...

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

Bravura returns to profit after business restructure

Bravura returns to profit after business restructure

Business to pivot away from transformation to growth focus

Jenna Brown
clock 14 August 2024 • 1 min read
Schroders UK Platform Awards – remaining shortlists revealed!

Schroders UK Platform Awards – remaining shortlists revealed!

Winners to be announced on 24 September at the London Hilton Park Lane

Professional Adviser
clock 12 August 2024 • 2 min read
Schroders UK Platform Awards: Leading adviser finalists revealed!

Schroders UK Platform Awards: Leading adviser finalists revealed!

Winners to be announced on 24 September at the London Hilton Park Lane

Professional Adviser
clock 09 August 2024 • 1 min read