• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Business Development

Nucleus doubles profit as it eyes replatforming rivals’ clients

Nucleus doubles profit as it eyes replatforming rivals’ clients
  • Pedro Gonçalves
  • @PeterHSG
  • 11 September 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Edinburgh-based wrap platform provider Nucleus has seen its post-tax profit double in its first results as a listed company.

The company reported profit after tax of £2.2m in the six months to 30 June 2018, compared with £1.1m in the first half of 2017.

Related articles

  • Nucleus signs with Bravura in new fintech partnership
  • Nucleus reports 33% profit jump
  • Cash-clever adviser platform Nucleus pays first dividend to shareholders
  • LGIM names Australia’s Bravura as partner for digital expansion

Assets grew 15.6% year on year from £12.4 billion to £14.3 billion, while the number of advisers using the platform also grew to 1,357, compared to 1,266 in the first half of 2017. Customer numbers reached 90,650, up 5.9% on the first half of 2017.

“The growth in AUA and the number of active advisers, two of our key performance indicators, show that our adviser users continue to share our ambition of promoting transparency and improving customer outcomes,” Nucleus chief executive David Ferguson said in a statement.

As profit grows, Nucleus has its sights set on attracting clients from rivals that are undergoing difficult replatforming projects.

Aviva and Aegon have been undergoing replatforming projects that have given problems toadvisers. Royal London-owned Ascentric also created a few problems for clients when it completed the first stage of its move to Bravura’s Sonata technology, the same system Nucleus moved to in 2014.

Old Mutual Wealth and Fidelity FundsNetwork are also planning to change technology systems in the near future.

The business also reported a 14% drop in net inflows.. However, the firm has declared an interim dividend of 1.4 pence per share payable in October.

Nucleus floated on the Alternative Investment Market with a market capitalisation of £139.9m in July.

Nucleus is a software platform where financial advisers can give clients online access to a range of investments in one place.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Business Development
  • Fintech
  • Platforms
  • UK
  • Fintech
  • Nucleus
  • Platforms
  • Results

More on Business Development

J. Safra Sarasin acquires BMO private bank in Hong Kong and Singapore

  • Business Development
  • 05 January 2021
FEIFA and LGT Vestra renew partnership

  • Business Development
  • 19 December 2020
Vontobel Asset Management opens Japan office

  • Business Development
  • 16 December 2020
Bahamas passes digital assets legislation for 'compliant industry'

  • Fintech
  • 15 December 2020
Banca Generali buys stake in Conio cryptocurrency services provider

  • Fintech
  • 15 December 2020
Back to Top

Most read

J. Safra Sarasin acquires BMO private bank in Hong Kong and Singapore
J. Safra Sarasin acquires BMO private bank in Hong Kong and Singapore
Asia-Pacific dominates 2021 Henley Passport Index
Asia-Pacific dominates 2021 Henley Passport Index
People moves: Mark Versey appointed CEO of Aviva Investors
People moves: Mark Versey appointed CEO of Aviva Investors
DeVere's Green sells 'half of bitcoin holdings' over Christmas
DeVere's Green sells 'half of bitcoin holdings' over Christmas
FCA warns pandemic puts 4,000 financial firms at risk of failing
FCA warns pandemic puts 4,000 financial firms at risk of failing
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading