Nucleus Financial Group has reported today that its assets under administration (AUA) increased by 8.1% to £14.7bn for the nine months since the beginning of 2018.
The UK-based firm reported that the number of advisers using the platform increased by 5.6% since the start of the year, reaching 1,391.
The company continued to grow AUA, which stood at £14.7bn as at 30 September 2018, up 8.1% year to date and up 14.0% over the previous year. Over the first nine months of 2018, the FTSE All Share Index decreased by 2.2% and the FTSE 100 Index decreased by 2.3% by comparison.
David Ferguson, Nucleus’ founding CEO, commented: “Nucleus has continued to grow with a solid increase in adviser and customer numbers and strong AUA growth, despite the well-referenced market uncertainty that is continuing to impact investor sentiment. As a result, 3Q flows were below last year’s all-time high, although still well up on 2016.
“Alongside the continued growth in assets we are pleased that outflows as a proportion of opening AUA were reduced in the quarter and across the first nine months of 2018 (6.0% versus 6.6%),” he added.
“Of course, it is in exactly these market circumstances that the need for financial advice is at its most pronounced and we believe the soundness of our business model, our financial health and the ongoing investment we are making in our proposition position us well both now and in the future.”