Nucleus hits £10bn asset milestone as it marks 10 years since wrap launch
Nucleus, the adviser-built wrap has hit £10 billion in assets under administration on the week it celebrates its 10th year in the platform market.
The wrap platform launched on 29 June 2006 alongside seven founding advisory firms and has steadily increased its assets, adviser users and pre-tax profit to £4.8 million.
Nucleus has navigated its way through a decade of significant regulatory changes in the industry and also the completion of its technology upgrade to platform technology provider Bravura’s new Sonata software which will guarantee the wrap is ready to take on more opportunities in the future.
David Ferguson, Nucleus chief executive and founder, said: ‘We are delighted to have reached £10 billion in assets under administration on the platform and it is a perfectly fitting milestone to mark our 10th year in the platform industry.
‘The financial services landscape has changed dramatically in the past decade and we anticipate further challenges for the future as consumer demands evolve.
‘There is huge change afoot in the platform market, whether due to replatforming or as shareholders disposed of failing operations and we believe our relative stability can be a major asset to help drive acceleration in our growth.
‘With a growing number of quality adviser firms coming onboard and a pipeline of developments designed to ensure the platform remains at the forefront of innovation, I am confident we can build on our progress to date and continue to deliver a proposition that has its adviser users and their clients’ needs at its core.’