Scottish fintech Nucleus has seen double-digit growth in assets under administration on its platform to £15.7bn so far this year.
The Edinburgh-headquartered company, whose software platform enables financial advisers to give clients online access to a range of investments in one place said the asset figure rose 6.8% during the third quarter of the year, compared to a 1.6% year-on-year fall in the FTSE All-Share Index. So far this year the assets figure is up 13.1%.
The number of financial advisers actively using the platform increased 2.1% year-on-year to 1,389 and individual customer numbers increased 3.6% year-on-year to 95,373.
Chief executive David Ferguson said the company was also in the early stages of a new partnership agreement with one IFA consolidator and are in continued discussions with others.
“We expect these new relationships to enhance resilience of net inflows while also presenting future growth opportunities,” he said.
Gross inflows increased for the third consecutive quarter to £490m despite a backdrop of investor uncertainty.
Ferguson said outflows remain higher than normal but in line with expectations, and reflect primarily the ongoing impact of a small number of firms that have been acquired by consolidators.
He said the platform was introducing a number of improvements.
"These include new trading functionality that allows the placing of multiple trade instructions at the same time, enhanced bulk switching capability enabling more efficient performance, the introduction of a faster payments service for withdrawals and new telephony infrastructure. All of which are designed to significantly improve service delivery, engagement with customers and advisers, and operational resilience."
