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Insider UK
Insider UK
Business
Perry Gourley

Fintech sees assets under admin jump to almost £15 billion

Edinburgh fintech Nucleus has seen assets under administration (AUA) at its platform for financial advisers and clients jump to almost £15 billion.

The company said AUA have increased to £14.8billion, up 9.1% over the first quarter of 2018 and an increase of 6.3% on the previous quarter.

The number of advisers actively using the platform has edged up to 1,376 and customer numbers have risen to 94,144, up 5.3% over the same quarter in 2018.

David Ferguson, Nucleus' founder and CEO, said: "It was pleasing to see AUA levels increase in excess of 9% year-on-year compared to a FTSE All-Share increase of 2.2% in the same period. Gross inflows steadied quarter-on-quarter, building momentum throughout the period, particularly in the run up to the tax year end."

Ferguson said improvements to its technology had led to a number of developments during the period with a significant upgrade to the core platform software and the launch of a new Junior Isa product.

Last month the company announced full year results which showed adjusted pre-tax profit rise to £7.7 million for the year ended 31 December 2018, up almost 3% on the previous year.

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