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Nucleus predicts market divide in 2010

Nucleus chief executive David Ferguson is predicting a divide in the platform market this year.

Ferguson says 2010 will be “remembered as the year the real battle in the platform space began”, and says “true wraps” will emerge as the winners in the run up to the retail distribution review.

He says the lines of distinction that started to emerge between the various platform offerings in 2009 will become clearer over the next 12 months as more IFAs show interest in the market.

Ferguson says: “The scene is now set for the real divide in the platform market. While the term ‘platform’ currently covers a multitude of sins and solutions over the course of 2010 I expect to see much greater clarity emerge, not only around who is offering what but importantly why and at what cost.”


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Topher H Stalwark 17th February 2010 at 3:58 pm

    I think Nucleus are a wee bit premature about the dviding the market at such a sub atomic level, there is room for wraps and sudo wraps (platforms) in the market place, i think there might be a lot of Con-fusion over the matter and this had led to a chain reaction and possble meltdown in the marketplace. I for one miss enabler, it was a bit crap but it did what i said it would, thats all i have to say on this explosive topic

  2. This should be the year when advisers stop accepting “incentives” (shares etc) to use platforms that compromise their independence, aren’t proven to be scalable and with an unproven long term commitment in a long term market.

  3. While apparently misinformed and not company specific I’ll take the remarks from ‘Anonymous’ as being aimed at Nucleus. Four points worth making:

    1: Nucleus IFAs invest capital in the business – they are not ‘given’ shares.

    2. Where Nucleus cannot (or fails to) deliver I wouldn’t expect any of our IFA group to compromise their independence. There will always be price points or particular circumstances when we are uncompetitive but that is just life.

    3: As only the third full wrap in the UK to exceed £1bn of assets and inflows now >£90m/month and satisfaction levels at all time highs we are on a decent path to demonstrating scalability – time will tell but right now I’d much rather be here with no legacy than where some others find themselves.

    4. Our commitment is as proven as anyone’s and given our aligned ownership model I’d argue we can be considered as committed as anyone else.

    Like every business there is always work to be done – if you’d like to get involved and help like-minded IFAs build the right platform for them and their clients do please get in touch…

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