Nucleus breaks £6bn mark

Nucleus’s chief executive David Ferguson has said he is “proud” of the platform passing the £6bn asset milestone just six years after launching.

The Edinburgh-based wrap said the level of assets had been hit after a “post-RDR record nine months” which had seen user numbers inflows, turnover and profit “increase dramatically”.

Nucleus said the first nine months of 2013 had seen new users fuel a 25 per cent increase in turnover to £1.3bn and the company boost turnover by 39 per cent to £13.6m and switch the bottom line from a small loss of £0.1m to a profit of £1.4m .

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The platform was launched in 2006 by Mr Ferguson and backed by a group of adviser firms.

The company said it had a “ground-breaking 2012” which saw Nucleus post its first ever full year profit.

Mr Ferguson said: “To have gone from nothing to £6bn in just over six years is a decent achievement for any platform and one everyone at Nucleus HQ is rightly proud of,” he said.

“The Nucleus user community now numbers more than 400 firms and 1,200 advisers and the company is flying as the market settles into its post-RDR groove.”