Nucleus to consider stockmarket listing next year

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Nucleus could pursue a stockmarket listing as soon as next year, Money Marketing can reveal.

The platform has previously indicated it would pursue an initial public offering at some point. However, the firm had not until now disclosed when this would happen.

In an interview with Money Marketing, Nucleus chief executive David Ferguson reveals a stockmarket listing will be considered before the end of 2017. He says: “The shareholder agreement that governs the business obligates us to look at an IPO by the end of next year. It doesn’t necessarily have to happen by then but we have to consider it.

“Eventually one person will want to sell one share in Nucleus, so it’s inevitable the ownership structure will change over time. Ultimately if all the IFAs want to sell the shares, it won’t be IFA-owned any more.

“But the culture and DNA of the business is established, so I don’t think it would matter a great deal who owned it as long as they respect the culture of the business.”

Nucleus’s latest results, published in December, show profits hit £2.4m in the third quarter of 2015, up from £1.9m in the same period of 2014.

Assets under administration increased 16 per cent to £8.7bn, up from £7.5bn, while turnover increased 30 per cent from £17.2m to £22.3m.

The full David Ferguson interview will be published on Friday.