Nucleus breaks £1bn AUM barrier

Nucleus has passed the £1bn barrier in assets under administration, the IFA-owned wrap announced today.

The landmark comes after a surge of inflows that will see the business register its first £200m quarter and less than three years since launch. Nucleus currently has 352 IFA users and is set to sign up its 60th member firm.

Chief executive David Ferguson says hitting the "magical £1bn barrier" in less than three years is a huge achievement and keeps Nucleus on track to break even.

"What is particularly pleasing is that every month is a record-breaking month for us, not just in terms of the volume of assets coming on to the platform and the number of advisers using it, but also in terms of the richness of the conversation amongst our IFA group," he says.

"There is no question that the vision we had all those years ago is becoming reality."