View more on these topics

Nucleus posts £500,000 H1 profit

Nucleus chief executive David Ferguson

Nucleus has posted pre-tax profits of £500,000 for the first half of 2013, compared to £100,000 in the first half of 2012.

The platform’s unaudited half-yearly figures show turnover increased 39 per cent to £8.8m in the first half of this year, up from £6.4m in H1 2012.

Assets under administration rose 38 per cent to £5.3bn, up from £3.8bn the previous year.

Nucleus chief executive David Ferguson says: “We are very pleased with the increase in assets on the platform along with the increase in turnover and we now feel we are in a position to make a sustainable profit.”

Ferguson adds he expects the platform to post the same profits for the second half of 2013.



Apfa hits out at FSCS over ‘unexceptional’ Keydata costs

Apfa has challenged the Financial Services Compensation Scheme’s argument that it does not consider claims levels triggered by the collapse of Keydata as “exceptional” costs on advisers. Yesterday the FSCS set out its approach for calculating industry levies based on expected claims over the next three years, which will come into effect in April 2014. […]


ABI warns defined ambition will be too costly

The Association of British Insurers will today warn pensions minister Steve Webb’s defined ambition proposals would be too expensive and too difficult to regulate, according to the Financial Times. Webb set out defined ambition options in April last year in which the Government looks to encourage employers to take on a greater share of retirement risk. […]


Aviva enhances critical illness product

Aviva has added three new critical illness conditions and two new partial payments to its plan, as well as improving its heart attack and children’s cover definitions. The new full payment conditions are Devic’s disease, which is similar to Multiple Sclerosis, spinal stroke and cardiac arrest, which is payable on suffering a cardiac arrest and […]


ifs relaunches complaint handling qualification to cover PPI

The Institute of Financial Services is launching a new adviser qualification to deal with payment protection insurance complaints. The Financial Ombudsman Service has seen complaints rocket in recent years as the PPI misselling scandal has snowballed with tens of billions of pounds worth of compensation paid out. The parliamentary commission on banking standards attacked banks […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. John Hammondson 5th July 2013 at 11:50 am

    That’s a lovely picture, the on the loo pose

  2. Dermot O'Logical 5th July 2013 at 12:24 pm

    Hooray, hopefully all the shares I’ve accumulated will be worth more now. And I’ve got quite a few shares too as I’ve moved all my clients onto the platform.


Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm