Nucleus, the Edinburgh-based wrap platform which challenges the big insurers, has reported further strong growth on the back of reforms to financial advice and pensions.
In 2014 Nucleus lifted assets under administration from £6.3billion to £8bn and they are already approaching £9bn. Inflows were up 12per cent at £1.9bn. Turnover rose by 26per cent to £23.6m, and operating profits climbed by two-thirds to £2.5m. David Ferguson, founder and chief executive, said: "Having been derided by legacy players for not having deep enough pockets, it's now moderately pleasurable to feel them getting a little heavier every month. Our collaboration with forward-looking advisers is gaining ever-more traction and shows what can be achieved by a small team which always puts the customer centre stage."
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