TIDMNUC
RNS Number : 0960R
Nucleus Financial Group PLC
25 October 2019
25 October 2019
Nucleus Financial Group plc
('Nucleus' or the 'Company')
Q3 2019 AUA update
Assets under administration increase 13.1% year-to-date
Nucleus (AIM: NUC), a leading independent wrap platform
provider, today publishes an update on its assets under
administration (AUA) in respect of the three month period to 30
September 2019.
The Company continues to grow AUA, which stood at GBP15.7bn as
at 30 September 2019, up 6.8% over Q3 2018 and 13.1% year-to-date.
By comparison, the FTSE All-Share Index fell by 1.6% year-on-year
and increased 10.5% year-to-date.
Highlights
- AUA increased to GBP15.7bn, up 6.8% year-on-year and an increase of 13.1% year-to-date
- Gross inflows increased for the third consecutive quarter to GBP490m
- Net inflows remain steady with both Q2 and Q3 net inflows at GBP111m
- Advisers actively using the platform increased 2.1% year-on-year to 1,389*
- Customer numbers increased 3.6% year-on-year to 95,373
- Continued investment in our core product in Q3 with the
implementation of new functionality within our customer portal,
'Nucleus Go' and post the reporting period, the implementation of
new paperless correspondence options for customers
- Continued investment in platform development during Q4 is due
to deliver new trading functionality, bulk switching capability, a
faster payments service for withdrawals and new telephony
infrastructure
AUA and inflows
Quarter Quarter Nine months Nine months
ended ended ended ended
30 Sept 30 Sept 30 Sept 30 Sept
2019 2018 2019 2018
GBPm GBPm GBPm GBPm
--------- ------------ ------------
Opening AUA 15,332 14,339 13,884 13,577
Inflows 490 563 1,444 1,828
Outflows (379) (281) (1,088) (820)
Net flows 111 282 356 1,008
Market movements 254 72 1,457 108
Closing AUA 15,697 14,693 15,697 14,693
Daily average AUA 15,552 14,585 15,004 14,097
--------- ------------ ------------
David Ferguson, Nucleus' founder and CEO, commented:
"Momentum has continued with AUA increasing over 13%
year-to-date compared to a FTSE All-Share increase of 10.5% in the
same period. Gross inflows increased, albeit marginally, for the
third successive quarter against a backdrop of continued investor
uncertainty. Outflows remain higher than normal but in line with
expectations, and reflect primarily the ongoing impact of a small
number of firms that have been acquired by consolidators. Net
inflows remained stable at GBP111m and, as previously reported, we
are in the early stages of a new partnership agreement with one IFA
consolidator and are in continued discussions with others. We
expect these new relationships to enhance resilience of net inflows
while also presenting future growth opportunities."
"In September we held our eleventh annual conference where we
welcomed over 300 delegates and confirmed our intention to continue
investing in the platform proposition. We're very positive on
product development and developments completed in the quarter (or
shortly after), included enhancements to our customer portal,
Nucleus Go, and new paperless correspondence options for
customers."
"We have significantly increased the velocity of our change
programme this year. This planned and marked acceleration has
continued into Q4 with a series of further enhancements. These
include new trading functionality that allows the placing of
multiple trade instructions at the same time, enhanced bulk
switching capability enabling more efficient performance, the
introduction of a faster payments service for withdrawals and new
telephony infrastructure. All of which are designed to
significantly improve service delivery, engagement with customers
and advisers, and operational resilience."
Historical flows and AUA data by quarter
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2016 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
----------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
Opening
AUA 10,659 11,144 11,897 12,401 12,889 13,577 13,527 14,339 14,693 13,884 14,753 15,332
Inflows 507 653 671 687 597 665 600 563 462 466 488 490
Outflows (214) (225) (249) (261) (205) (254) (285) (281) (277) (332) (377) (379)
Net flows 293 428 422 426 392 411 315 282 185 134 111 111
Market
movements 192 325 82 62 296 (461) 497 72 (994) 735 468 254
Closing
AUA 11,144 11,897 12,401 12,889 13,577 13,527 14,339 14,693 13,884 14,753 15,332 15,697
Daily
average
AUA 10,849 11,518 12,198 12,715 13,313 13,609 14,086 14,585 14,202 14,399 15,047 15,552
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
* Q3 2018 restated from 1,391 to 1,360
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 1,389 active adviser users and works with more than 880
financial adviser firms as at 30 September 2019. It is responsible
for AUA of GBP15.7bn on behalf of more than 95,000 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 won CoreData's 'Best medium sized platform' for 2019
(and the last eight years), the Schroders 'Platform of the Year'
award for 2018 (and the last three years) and won 'Best Platform'
and 'Platform Innovation' at the 2018 Money Marketing Awards.
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END
TSTEADELASFNFAF
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October 25, 2019 02:00 ET (06:00 GMT)
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