Edinburgh-based funds platform Nucleus Financial Group on Friday published an update on its assets under administration (AUA) for the three months to September 30, 2019. 

Nucleus said its assets under administration stood at £15.7 billion at September 30, up 6.8% over the third quarter of 2018 and up 13.1% year-to-date.

Nucleus founder and CEO David Ferguson said: “Momentum has continued with AUA increasing over 13% year-to-date compared to a FTSE All-Share increase of 10.5% in the same period.

“Gross inflows increased, albeit marginally, for the third successive quarter against a backdrop of continued investor uncertainty.

“Outflows remain higher than normal but in line with expectations, and reflect primarily the ongoing impact of a small number of firms that have been acquired by consolidators.

“Net inflows remained stable at £111m and, as previously reported, we are in the early stages of a new partnership agreement with one IFA consolidator and are in continued discussions with others.

“We expect these new relationships to enhance resilience of net inflows while also presenting future growth opportunities.

“In September we held our eleventh annual conference where we welcomed over 300 delegates and confirmed our intention to continue investing in the platform proposition.

“We’re very positive on product development and developments completed in the quarter (or shortly after), included enhancements to our customer portal, Nucleus Go, and new paperless correspondence options for customers.”