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Nucleus reaches £1bn in AUM

Nucleus has reached £1bn in assets under administration on its platform.

The wrap recorded £200m in AUM last quarter, its biggest quarter to date.

Nucleus currently has 352 IFA users and is in the process of signing up its 60th member-firm.

Nucleus chief executive David Ferguson says: “To have broken the magical £1bn barrier in less than three years is a huge achievement for the business, especially in the current economic climate, and keeps us well on track to break even.”

Last month Standard Life reached £3bn in assets under administration on its platform, and Ascentric exceeded £1bn funds under administration.

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