Nucleus  

Nucleus confirms float potential amid sale rumours

Nucleus confirms float potential amid sale rumours

Adviser-owned platform Nucleus has confirmed it is open to a possible stock market listing for the business, but would not be drawn on reports this is imminent. 

In a statement released after a string of speculative media reports, Nucleus said: “We are on record as saying our shareholder agreement provides for an exit event.”

But the company said no final decision has been made and dismissed much “speculation” around the idea of a float.

Nucleus is owned by advisers and wealth management firm Sanlam.

The platform is based in Edinburgh and has assets under administration of around £13bn.

Its most recent set of accounts revealed a cash pile of £15m. As FTAdviser has previously reported, in August the company paid its first ever dividend, after profits lept 21 per cent.

Nucleus was launched in 2006 by David Ferguson, who continues to be chief executive of the company.

It cut its fees in July 2017.

The speculation around the intentions of Nucleus comes in light of Transact floating on the London Stock Exchange, a move which valued the company at £649m.

Alistair Cunningham, financial planning director at Wingate Financial Planning in Caterham, said: "It's interesting to see so much IPO activity. It's still a tremendously competitive marketplace and I actually can't see any single dominating player."

David.Thorpe@ft.com