Nucleus Financial Group sees decent growth through third quarter

26th Oct 2018 07:58

(Sharecast News) - Independent wrap platform provider Nucleus Financial Group updated the market on trading for the nine-month period ended 30 September on Friday, reporting an 8.1% improvement in assets under administration to £14.7bn.The AIM-traded firm noted that over the first nine months of 2018, the FTSE All Share Index dropped by 2.2% and the FTSE 100 Index fell 2.3% by comparison.Assets under administration were ahead 14.0% over the last 12 months.Nucleus said the number of advisers actively using its platform increased to 1,391 at the end of the period, up 5.6% since the start of the year and 7.2% over the last 12 months.Customer numbers rose by 4.3% since the beginning of the year and 6.4% over the previous 12 months as well.Nucleus also noted that it was awarded the UK Platform of the Year award 2018 at the Schroders UK Platform Awards - the third year in succession it has been awarded the top industry accolade."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," said founder and chief executive officer David Ferguson."As a result, third quarter flows were below last year's all-time high, although still well up on 2016."Ferguson said alongside the continued growth in assets, the board was "pleased" that outflows as a proportion of opening assets under management were reduced in the quarter, and across the first nine months of 2018."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."