FINANCIAL technology firm Nucleus Financial is moving into a landmark Edinburgh office development as the company looks to maintain the rapid growth rates it has achieved amid changes in the pensions and investments markets.
Nucleus, which has developed a wrap platform that lets financial advisers manage their clients portfolios online, is taking a floor in the Greenside development next to Calton Hill in the city centre.
The company is expected to be the first tenant to move into Greenside following the redevelopment of the building by Chris Stewart group.
The decision to relocate from a smaller base on a lane in the city centre comes weeks after Nucleus said it expected to enjoy strong growth in demand for its services in coming years. Regulatory changes have increased the market for advisory services and the associated reporting requirements.
Founded in 2006, Nucleus has developed technology that is used by more than 400 adviser firms.
Assets under administration increased to £11.4bn from £9.3bn last year.
Chief executive David Ferguson said: “This move should encourage us to up the pace and accelerate us in the direction of £40bn or £50bn of assets under management.”
Chris Stewart is in talks with other potential tenants for the five storey Greenside development.
The company said the project has involved reimagining a tired-looking 30 year old block, which was originally a computer centre for the Scottish Equitable life and pensions business that was bought by Aegon.
Nucleus has 180 staff. It has taken a 10 year lease on the second floor of Greenside and part of the third floor.
The company grew profits 21 per cent to £4.3m in 2016. Sales increased by 15 per cent annually to £33.3m.
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