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Q3 2019 AUA update

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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 £15.7bn 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 £15.7bn, up 6.8% year-on-year and an increase of 13.1% year-to-date

-       Gross inflows increased for the third consecutive quarter to £490m

-       Net inflows remain steady with both Q2 and Q3 net inflows at £111m

-       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  ended
30 Sept 2019

Quarter  ended

30 Sept 2018

Nine months ended

30 Sept 2019

Nine months ended
30 Sept 2018

 

£m

£m

£m

£m

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 £111m 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 2016

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Q4 2018

Q1 2019

 

Q2 2019

Q3 2019

 

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

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 £15.7bn 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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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