Adviser-built wrap Nucleus has seen gross inflows for the first quarter year-to-date of £510m, up 6 per cent from £481m during the same period in 2014.
End of quarter assets under administration reached £8.7bn, up 28 per cent from the same period last year.
This uplift saw turnover for Q1 year-to-date increase by 28 per cent to £6.8m, up from £5.3m compared with the same period in 2014, helping a 26 per cent increase in profit before tax to £564,000.
David Ferguson, the firm’s founder and chief executive, told FTAdviser that the results are a reflection of a good period for the adviser community.
“Anecdotally and from our numbers it appears all firms using our service are in good shape, so we’re just piggy-backing on them really. No spectacular results, but good gradual growth.”
He added that while there are no major changes planned for the rest of the year, there are various smaller initiatives being put in place, including going totally paperless over the coming months.
“The past 12 months have been a hugely important period of development for us and now that we’re operating on the latest platform technology and with a broader and more experienced management team than ever before, we remain massively excited about what the future holds for the business.”
Mr Ferguson noted that results from Nucleus’ annual adviser census revealed confidence about the future of IFAs’ businesses remains high, with 100 per cent of the platform’s users being ‘confident’ about the future.
The latest figures follow last month’s annual results, which recorded inflows of £1.9bn last year, up 12 per cent on the previous total, while end of year assets under administration reached £8bn, up 27 per cent from the same period in 2013.
peter.walker@ft.com
