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Nucleus lines up float

Nucleus could become the latest adviser-backed platform to float as reports emerge that it has appointed a broker to oversee a stock market listing.

The platform currently has around £13bn of assets under administration, and is eyeing a float valuation upwards of £100m, according to Sky News.

Nucleus had been eyeing a float in 2016, but withdrew its plans after feedback from advisers suggested they should concentrate on innovation and efficiency improvements before any listing.

The platform went live in 2006. Last night, after five years of increasing profits, it paid out its first dividend to advisers and other shareholders, which include investment and advice company Sanlam as a major stakeholder.

A float for Nucleus would follow hot on the heels of fellow platform Transact, which listed this morning at a price of 196p. AJ Bell, which has around £40bn in assets, more than twice that of Nucleus, could float for around £350m, according to analysts.

Speaking to Money Marketing in 2016, Nucleus chief executive David Ferguson noted that the firm’s shareholder agreement committed it to assess the viability of an initial public offering by the end of 2017.

Profile: Nucleus boss David Ferguson on pricing pressures and the prospect of a future IPO

A Nucleus spokesman says: “We are on record as saying our shareholder agreement provides for an exit event. While we understand recent events may have given rise to speculation, as far as Nucleus is concerned that’s all it is.”



Nucleus pulls back on IPO plans

Nucleus has delayed plans to explore flotation after advisers reacted negatively to the proposal. Chief executive David Ferguson told Money Marketing in February that the terms of its ownership required the adviser-owned firm to explore a float this year. However, chief financial officer Doug Heron now says the plans have been shelved. He says: “Our […]


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Combining risk frameworks with appropriate asset allocation is no mean feat Economists call them “teachable moments”. A life event which make us think more about long-term financial planning. Until my 40th birthday, I barely thought of my mortality. But since then I have barely thought of anything else. A major birthday milestone combined with the arrival […]

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