Nucleus profits rise after 37% jump in assets

Platform Nucleus saw its assets under administration jump 37% in 2013 to £6.2bn, with gross inflows up 26% to £1.7bn, driving a sharp climb in profitability.

The firm reported a profit of £1.7m, rising from just £100,000 in 2012, with turnover also increasing by 38% to £18.8m. "2012 was a pivotal year for Nucleus, achieving profitability for the first time but 2013 represented an even bigger step forward for us," said CEO David Ferguson (pictured). "Our collaborative model continues to offer scale and these results are further demonstration of what can be achieved by a relatively small group of very committed people with strong values. "There's always more to be done but our audience is more buoyant than ever and that makes us cautiousl...