Financial Results

UK Wrap Platform Logs Record H1

Amisha Mehta Assistant Editor London 23 September 2015

UK Wrap Platform Logs Record H1

The UK-based advisor-built wrap platform recorded new highs in the first six months of 2015.

Nucleus reported a record first-half this year, attracting over £1 billion ($1.5 billion) of new assets.

The platform generated inflows of £1.025 billion over the period, up 5 per cent year-on-year, pushing turnover up 33 per cent to £14.8 million and returning operating profits to £2.4 million at the end of June.

Total assets under administration grew 22 per cent from £7.2 billion a year ago to £8.8 billion in the first half of 2015. The platform's AuA has since hit the £9 billion milestone, and the firm has also marked nine years of trading since launch in 2006.

“As an advisor-built and advisor-owned platform, these financial results for the first half of 2015 - against a backdrop of turmoil in our sector with large scale corporate withdrawals from the UK sitting alongside confirmed takeovers and rumoured sales – are further validation of the strength, value and absolute relevance of our business model,” said David Ferguson, founder and chief executive.

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