TIDMNUC
RNS Number : 2168V
Nucleus Financial Group PLC
13 April 2021
13 April 2021
Nucleus Financial Group plc
('Nucleus' or the 'Company')
Q1 2021 AUA update
Assets under administration increase to GBP18.0bn with 44.7%
increase in net inflows on Q4 2020
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 31 March
2021.
The Company continues to grow AUA, which rose to GBP18.0bn as of
31 March 2021, up 28.4% year-on-year and 3.1% on the previous
quarter. By comparison, the FTSE All-Share Index increased 23.3%
year-on-year and by 4.3% on the last quarter.
Q1 highlights
- Gross inflows of GBP637m were achieved in Q1 with March 2021
our best ever month for inflows. This represented a 29.5% increase
on the previous quarter (Q4 2020: GBP492m) as sentiment continued
to improve, and a 9.8% increase on Q1 2020.
- Net inflows were GBP301m (with March being our second best
ever month) up 44.7% against the prior quarter and up 12.3% on Q1
2020.
- Advisers actively using the platform increased by 2.2% in Q1
2021 compared to the previous quarter and by 1.9% year-on-year.
- Customer numbers increased by 0.7% in Q1 2021 compared to the
previous quarter and by 3.1% year-on-year.
- Successful integration of our new colleagues following our
December transaction with Genpact.
- Following a successful soft launch period in H2 2020, the
first quarter of 2021 saw the full rollout of our new model
portfolio service, Nucleus IMX, which has immediately become the
third highest discretionary managed portfolio service for net
inflows from existing users on the Nucleus platform in Q1 2021.
- Further and continued investment in the platform in the
quarter saw enhancements to our phased drawdown functionality,
improvements to client documentation and will shortly see the
introduction of next day payments.
- Nucleus had the largest year-on-year increase in score (across
all platforms) in the latest Platforum User Leaderboard (March 2021
v March 2020) to move into 5(th) place and was the only platform to
score an increase in performance across all categories in the
latest report .*
AUA and inflows
Quarter ended Quarter ended Quarter ended
31 March 31 March 31 December
2021 2020 2020
GBPm GBPm GBPm
-------------- --------------
Opening AUA 17,415 16,141 16,103
Inflows 637 580 492
Outflows (336) (312) (284)
Net flows 301 268 208
Market movements 243 (2,423) 1,104
Closing AUA 17,959 13,986 17,415
Daily average AUA 17,696 15,636 16,739
-------------- -------------- --------------
David Ferguson, Nucleus' founder and CEO, commented:
"The first quarter has been incredibly strong for new business
activity, reflecting the continued achievements of our people and
validating our decision to maintain our investment programme
through 2020. Q1 net inflows were substantially up on Q4 (and on
the prior year) and, at over GBP300m for the first time in a single
month, March was by far our best-ever month for inflows, a trend
we'd hope to see continue as lockdown eases."
"User satisfaction continues to improve following the successful
acquisition and integration of our new colleagues from OpenWealth.
We are pleased with our Q1 performance. Profit for the year to date
is ahead of the board's expectations as a result of higher AUA and
lower costs and we believe the business is well-positioned to
accelerate inflow momentum and to expand our operating margin
through the rest of this year and beyond."
Historical flows and AUA data by quarter
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
----------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
Opening
AUA 13,577 13,527 14,339 14,693 13,884 14,753 15,332 15,697 16,141 13,986 15,825 16,103 17,415
Inflows 665 600 563 462 466 488 490 497 580 384 373 492 637
Outflows (254) (285) (281) (277) (332) (377) (379) (344) (312) (219) (291) (284) (336)
Net flows 411 315 282 185 134 111 111 153 268 165 82 208 301
Market
movements (461) 497 72 (994) 735 468 254 291 (2423) 1,674 196 1,104 243
Closing
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
Daily
average
AUA 13,609 14,086 14,585 14,202 14,399 15,047 15,552 15,704 15,636 15,112 16,041 16,739 17,696
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
* Source: Platforum UK Adviser Platforms: Market Overview (Issue
45). Platforum's user leaderboard asks users to rate their primary
and secondary platforms across a series of ten criteria.
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 31 March 2021. It is
responsible for AUA of GBP18.0bn on behalf of more than 101,000
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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