TIDMNUC
RNS Number : 4330F
Nucleus Financial Group PLC
16 July 2021
16 July 2021
Nucleus Financial Group plc
('Nucleus' or the 'Company')
Q2 2021 AUA update
Assets under administration increase 19% year-on-year to
approach GBP19bn
Nucleus (AIM: NUC), a leading independent wrap platform
provider, today publishes an update on its assets under
administration (AUA) in respect of the three months to 30 June
2021.
The Company continues to grow AUA, which rose to GBP18.9bn as of
30 June 2021, up 19.2% year-on-year and 5.1% on the previous
quarter. By comparison, the FTSE All-Share Index increased 17.7%
year-on-year and by 4.8% on the last quarter.
Q2 highlights
- Gross inflows of GBP578m were achieved in Q2 2021, a 50.5% increase on Q2 2020.
- Net inflows were GBP193m up 17.0% against Q2 2020.
- Advisers actively using the platform increased by 0.5% in Q2
2021 compared to the previous quarter and by 2.6% year-on-year.
- Customer numbers increased by 1.0% in Q2 2021 compared to the
previous quarter and by 2.9% year-on-year.
- Investment in the platform proposition continued throughout Q2
with the introduction of next day payments ensuring faster
withdrawals and income payments for clients; new adviser access to
our client portal, Nucleus Go through 'Adviser View'; and the
introduction of near real-time platform reports ensuring data
reported from the platform is as up to date as it possibly can be,
only minutes behind core platform transactions.
- Following the acquisition of the relevant assets of OpenWealth
in December, a new Glasgow office was opened in May for our new
Nucleus colleagues.
- The James Hay takeover offer received shareholder acceptances
in excess of 94% and was declared unconditional as to acceptances.
The change in control application is currently pending approval
from the FCA.
AUA and inflows
Quarter ended Quarter ended Quarter ended
30 June 2021 30 June 2020 31 March
2021
GBPm GBPm GBPm
-------------- --------------
Opening AUA 17,959 13,986 17,415
Inflows 578 384 637
Outflows (385) (219) (336)
Net flows 193 165 301
Market movements 717 1,674 243
Closing AUA 18,869 15,825 17,959
Daily average AUA 18,480 15,112 17,696
-------------- -------------- --------------
David Ferguson, Nucleus' founder and CEO, commented:
"The first quarter of 2021 was incredibly strong for new
business activity, and it was pleasing to see inflow momentum
continue throughout Q2 and to reach GBP19bn of AUA following the
quarter end. It was a particularly resilient performance given the
ongoing uncertainty of the takeover process and reflects the
ongoing achievements and fortitude of our people along with our
commitment to continually improving the core platform proposition
for our users."
Historical flows and AUA data by quarter
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
----------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
Opening
AUA 13,527 14,339 14,693 13,884 14,753 15,332 15,697 16,141 13,986 15,825 16,103 17,415 17,959
Inflows 600 563 462 466 488 490 497 580 384 373 492 637 578
Outflows (285) (281) (277) (332) (377) (379) (344) (312) (219) (291) (284) (336) (385)
Net flows 315 282 185 134 111 111 153 268 165 82 208 301 193
Market
movements 497 72 (994) 735 468 254 291 (2423) 1,674 196 1,104 243 717
Closing
AUA 14,339 14,693 13,884 14,753 15,332 15,697 16,141 13,986 15,825 16,103 17,415 17,959 18,869
Daily
average
AUA 14,086 14,585 14,202 14,399 15,047 15,552 15,704 15,636 15,112 16,041 16,739 17,696 18,480
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
Ends
For further information please contact:
Nucleus
David Ferguson, CEO Tel: +44 (0)13 1226 9800
Stuart Geard, Chief Financial Officer
Shore Capital (Nominated Adviser and Broker)
Hugh Morgan Tel: +44 (0)20 7408 4090
Edward Mansfield
Daniel Bush
Camarco (Media enquiries)
Jennifer Renwick Tel: +44 (0)20 3757 4994
Jake Thomas
Notes to Editors
About Nucleus
Nucleus is a wrap platform founded in 2006 by advisers committed
to altering the balance of power in the industry by putting the
customer centre stage. It provides independent wrap platform
services to over 1,450 active adviser users and works with more
than 850 financial adviser firms as of 30 June 2021. It is
responsible for AUA of GBP18.9bn on behalf of more than 102,000
customers.
The multi award-winning platform offers a range of custody,
trading, payment, reporting, fee-handling, research and integration
services across a variety of tax wrappers and more than 6,500 asset
choices including cash, OEICs, unit trusts, offshore funds,
structured products and listed securities, including ETFs and
investment trusts. The platform currently facilitates over 1.1
million customer account transactions on average per month.
Nucleus has been awarded CoreData's 'Best medium sized platform'
for 2020 (and the last nine years). It has also been awarded a
5-star service rating at the 2020 and 2019 Financial Adviser
Awards, the Schroders 'Platform of the Year' award for 2016, 2017
and 2018 and won 'Best Platform' and 'Platform Innovation' at the
2018 Money Marketing Awards.
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END
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