Nucleus reports 67% jump in profits to £2.5m

Nucleus has reported a £2.5m pre-tax profit for 2014, up by 67 per cent from £1.4m the previous year.

Assets under administration reached £8bn at the end of last year, an increase of 27 per cent compared to 2013.

The platform says this boosted turnover by 26 per cent to £23.6m.

Nucleus says it has 800 adviser firm users, adding 74 firms during 2014.

Inflows for the year totalled £1.9bn, up by 12 per cent from £1.7bn in 2013.

Nucleus chief executive David Ferguson says: “Last year was another year of significant progress. The biggest single success of 2014 was our technology upgrade and we are very happy to be set up for the next 10 years technology-wise.

“We want to keep adviser numbers reasonably tight and do more with a smaller audience than use a scatter gun approach across the whole market.”

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  1. A Wrap in Profit, Well done

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