Edinburgh’s Nucleus Financial sees assets top £15bn

Nucleus CEO David Ferguson

Edinburgh-based funds platform Nucleus Financial Group said on Tuesday its assets under administration (AUA) increased 6.9% year-on-year to £15.3 billion as it published results for the six months ended June 30, 2019.

Revenue rose 4% to £25.2 million and adjusted profit before tax fell 7.3% to £4.2 million.

Nucleus declared an interim dividend up 7.1% to 1.5p per share — about £1.1 million in total.

Nucleus reported a 1.9% increase in the number of active advisers from 1,357 to 1,383 over the last year and a 5.5% increase in customer numbers from 90,650 to 95,657.

Nucleus, CEO David Ferguson said: “We anticipated that the change to our operating model in late 2018 would significantly accelerate our product development in future years and the first half of 2019 has borne this out.

“Substantial investment in the core platform has delivered improved efficiency, new functionality and new capabilities. 

“We intend to continue developing our proposition to meet the needs of advisers and customers and expect this to give the platform an even wider market appeal over time.

 “Alongside the progress in our product roadmap we continue to grow assets, revenue, profits, customers and advisers, all against a challenging market backdrop and I am excited by what we can achieve.

“Financial performance is otherwise expected to develop as planned as we look beyond short-term headwinds and toward the future with confidence.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.