Edinburgh-based funds platform Nucleus Financial Group Plc on Friday published a third-quarter trading update which showed assets under administration up 14% to £14.7 billion.

However, net flows in the quarter fell to £282 million from £426 million the year before.

Nucleus said advisers actively using the 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.

Nucleus David Ferguson CEO said: “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, Q3 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% v 6.6%).”

“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.”