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Nucleus Financial Gp (NUC)

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Monday 29 April, 2019

Nucleus Financial Gp

Q1 2019 AUA update

RNS Number : 3223X
Nucleus Financial Group PLC
29 April 2019
 

29 April 2019

Nucleus Financial Group plc

('Nucleus' or the 'Company')

Q1 2019 AUA update

 

 

 

Nucleus (AIM: NUC), a leading independent wrap platform provider, today publishes an update on its assets under administration (AUA) in respect of the three month period to 31 March 2019.

The Company continues to grow AUA, which stood at £14.8bn as at 31 March 2019, up 9.1% over Q1 2018 and 6.3% on the previous quarter. By comparison, the FTSE All-Share Index grew by 2.2% over Q1 2018 and 8.3% over the quarter.

Highlights

-     AUA increased to £14.8bn, up 9.1% over Q1 2018 and an increase of 6.3% on the previous quarter

-       Gross inflows increased marginally against the prior quarter with momentum improving in the run up to the tax year end

-       Advisers actively using the platform increased marginally to 1,376 over Q1 2018

-       Customer numbers rose to 94,144, an increase of 5.3% over Q1 2018 and 0.5% over the previous quarter

-       Further significant platform upgrade successfully completed in Q1

-       Launch of new Junior Isa product and beta launch of Nucleus Go, an improved client portal

-       Shortlisted for Money Marketing's Company of the Year and Best Platform 2019

AUA and inflows

 

Quarter ended
31 March 2019

Quarter ended 31 December 2018

Quarter ended
31 March 2018

 

£m

£m

£m

Opening AUA

13,884

14,693

13,577

Inflows

466

462

665

Outflows

(332)

(277)

(254)

Net flows

134

185

411

Market movements

735

(994)

(461)

Closing AUA

14,753

13,884

13,527

Daily average AUA

14,399

14,202

13,609

 

David Ferguson, Nucleus' founder and CEO, commented:

"It was pleasing to see AUA levels increase in excess of 9% year-on-year compared to a FTSE All-Share increase of 2.2% in the same period. Gross inflows steadied quarter-on-quarter, building momentum throughout the period, particularly in the run up to the tax year end."

"We completed a change to our technology and BPO services model in Q4 2018 with the intention that this will improve our change velocity and I'm pleased to report that Q1 has borne this out with a significant upgrade to the core platform software, the launch of our new Junior Isa product,  and the beta launch of our new client portal, Nucleus 'Go' all successfully completed in the quarter. We also completed our Mifid II regulatory costs and charges disclosure after the reporting period in April 2019 and are looking forward to building on this change momentum throughout the year."

 

 

Historical flows and AUA data by quarter

 

Q2 2016

Q3 2016

Q4 2016

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Q4 2018

Q1 2019

 

 

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

Opening AUA

9,386

9,800

10,659

11,144

11,897

12,401

12,889

13,577

13,527

14,339

14,693

13,884

Inflows

458

434

507

653

671

687

597

665

600

563

462

466

Outflows

(248)

(203)

(214)

(225)

(249)

(261)

(205)

(254)

(285)

(281)

(277)

(332)

Net flows

210

231

293

428

422

426

392

411

315

282

185

134

Market movements

204

628

192

325

82

62

296

(461)

497

72

(994)

735

Closing AUA

9,800

10,659

11,144

11,897

12,401

12,889

13,577

13,527

14,339

14,693

13,884

14,753

Daily average AUA

9,494

10,373

10,849

11,518

12,198

12,715

13,313

13,609

14,086

14,585

14,202

14,399

 

~ Ends ~

For further information please contact:

Nucleus           

David Ferguson, CEO                                                     Tel: +44 (0)13 1226 9800

Stuart Geard, Chief Financial Officer       

 

Shore Capital (Nominated Adviser and Broker)         

Hugh Morgan                                                                   Tel: +44 (0)20 7408 4090

Edward Mansfield               

Daniel Bush 

 

Camarco (Media enquiries)    

Jennifer Renwick                                                             Tel: +44 (0)20 3757 4994

Jake Thomas    

 

Notes to Editors

About Nucleus

Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage.  It provides independent wrap platform services to 1,370 active adviser users and works with more than 870 financial adviser firms as at 31 March 2019. It is responsible for AUA of £14.8bn on behalf of more than 94,000 customers.

The multi award-winning platform offers a range of custody, trading, payment, reporting, fee-handling, research and integration services across a variety of tax wrappers and more than 6,500 asset choices including cash, OEICs, unit trusts, offshore funds, structured products and listed securities, including ETFs and investment trusts. The platform currently facilitates over 1.1 million customer account transactions on average per month.

Nucleus has won CoreData's 'Best medium sized platform' for 2018 (and the last seven years), the Schroders 'Platform of the Year' award for 2018 (and the last three years) and recently won 'Best Platform' and 'Platform Innovation' at the 2018 Money Marketing Awards.

 


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