Adviser platform Nucleus has reported a slowdown in net inflows amid market uncertainty in the third quarter, but has still seen client numbers and assets tick up.
Results released this morning show net flows were £282m in Q3, down from £315m in Q2, £411m in Q1, and £426m in the third quarter of 2017.
However, since the start of the year, assets under management are up 8 per cent, and active adviser users are up 5.6 per cent.
Assets under administration now stand at £14.7bn, with nearly 1,400 advisers using the platform.
Customer numbers are also up 4.3 per cent since the beginning of 2018.
Nucleus chief executive David Ferguson says: “Nucleus has continued to grow with a solid increase in adviser and customer numbers and strong AUA growth, despite the well-referenced market uncertainty that is continuing to impact investor sentiment.
“Of course, it is in exactly these market circumstances that the need for financial advice is at its most pronounced and we believe the soundness of our business model, our financial health and the ongoing investment we are making in our proposition position us well both now and in the future.”
Nucleus was able to first make a profit in 2010, within three and a half years of its launch, growing to become one of the first platforms to list on the London Stock Exchange earlier this year.
However, along with fellow platform Transact, Nucleus’s share price has fallen since it listed. Shares started at 239.5p a share on 26 July, but is not at around 160p.