Nucleus Financial Group PLC Replacement Q4 2018 AUA update (3299O)

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RNS Number : 3299O

Nucleus Financial Group PLC

28 January 2019

The announcement originally released on 28/01/2019 at 7:00am under RNS Number 2025O has been amended as the number of customers as at 31 December 2018 in the second paragraph should read 'customer numbers grew by 7% to 93,715'. The number of customers as at 31 December 2018 in the highlights section remains correct.

All other details remain unchanged. The full amended text is shown below.

28 January 2019

Nucleus Financial Group PLC

("Nucleus" or the "Company")

Q4 2018 AUA update

and

Notice of full year results

Nucleus Financial Group PLC (AIM: NUC), a leading independent wrap platform provider, today publishes an update on its assets under administration (AUA) in respect of the 12-month period to 31 December 2018.

The Company continues to grow AUA, which stood at GBP13.9bn as at 31 December 2018, up 2.3% over the year against a challenging market backdrop which saw the FTSE All Share Index decrease by 13% and the FTSE 100 Index decrease by 12.5% during the same period. Advisers actively using the platform increased by 6% to 1,396 over the year while customer numbers grew by 7% to 93,715. Net inflows for the period were impacted by continued investor caution.

AUA for the fourth quarter of 2018 fell by 5.5% reflecting a fall in markets overall, with the FTSE All Share Index down 11% and the FTSE 100 Index down by 10.4% in the quarter. AUA has since recovered, in line with market movements, to GBP14.2bn as at 24 January 2019.

Highlights

   -       AUA increased to GBP13.9bn at the end of the period, up 2.3% over 2018; 

- Advisers actively using the platform increased by 6% to 1,396 over the year (end 2017: 1,317);

   -       Customer numbers rose to 93,715, an increase of 7% over the period (end 2017: 87,556). 

AUA and inflows

 
                      Quarter   Quarter   12 months   12 months 
                       ended     ended     ended       ended 
                       31 Dec    31 Dec    31 Dec      31 Dec 
                       2018      2017      2018        2017 
                      GBPm      GBPm      GBPm        GBPm 
                     --------            ----------  ---------- 
 Opening AUA           14,693    12,889      13,577      11,144 
 Inflows                  462       597       2,290       2,608 
 Outflows               (277)     (205)     (1,097)       (940) 
 Net flows                185       392       1,193       1,668 
 Market movements       (994)       296       (886)         765 
 Closing AUA           13,884    13,577      13,884      13,577 
 Daily average AUA     14,202    13,313      14,124      12,441 
                     --------            ----------  ---------- 
 

David Ferguson, Nucleus' founder and CEO, commented:

"Nucleus has grown strongly in recent years and, despite the challenging market backdrop, I am pleased to report our 12th successive year of growth in AUA, adviser users and customer numbers. Having listed the business in Q3 2018 and reorganised our major outsourcing relationships in Q4 2018, we are now focused on accelerating our growth within the sector."

Notice of results

The results for the year ending 31 December 2018 will be announced on Tuesday 2 April 2019.

Historical flows and AUA data by quarter

 
               Q1      Q2      Q3       Q4       Q1       Q2       Q3       Q4       Q1       Q2       Q3       Q4 
                2016    2016    2016     2016     2017     2017     2017     2017     2018     2018     2018     2018 
               GBPm    GBPm    GBPm     GBPm     GBPm     GBPm     GBPm     GBPm     GBPm     GBPm     GBPm     GBPm 
------------  ------  ------  -------  -------  -------  -------  -------  -------  -------  -------  -------  ------- 
 Opening 
  AUA          9,069   9,386    9,800   10,659   11,144   11,897   12,401   12,889   13,577   13,527   14,339   14,693 
 Inflows         456     458      434      507      653      671      687      597      665      600      563      462 
 Outflows      (219)   (248)    (203)    (214)    (225)    (249)    (261)    (205)    (254)    (285)    (281)    (277) 
 Net flows       237     210      231      293      428      422      426      392      411      315      282      185 
 Market 
  movements       80     204      628      192      325       82       62      296    (461)      497       72    (994) 
 Closing 
  AUA          9,386   9,800   10,659   11,144   11,897   12,401   12,889   13,577   13,527   14,339   14,693   13,884 
 Daily 
  average 
  AUA          8,990   9,494   10,373   10,849   11,518   12,198   12,715   13,313   13,609   14,086   14,585   14,202 
              ------  ------  -------  -------  -------  -------  -------  -------  -------  -------  -------  ------- 
 

Ends

For further information please contact:

Nucleus

   David Ferguson, CEO                                                     Tel: [phone] 

Stuart Geard, Chief Financial Officer

Shore Capital (Nominated Adviser and Broker)

Hugh Morgan Tel: [phone]

Edward Mansfield

Daniel Bush

Camarco (Media enquiries)

Jennifer Renwick Tel: [phone]

Jake Thomas

Notes to Editors

About Nucleus

Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage. It provides independent wrap platform services to over 1,390 active adviser users and works with more than 800 financial adviser firms as at 31 December 2018. It is responsible for assets under administration ("AUA") of GBP13.9bn on behalf of more than 93,000 customers.

The multi award-winning platform offers a range of custody, trading, payment, reporting, fee-handling, research and integration services across a variety of tax wrappers and more than 6,500 asset choices including cash, OEICs, unit trusts, offshore funds, structured products and listed securities, including ETFs and investment trusts. The platform currently facilitates over 1.1 million customer account transactions on average per month.

Nucleus has won CoreData's 'Best medium sized platform' for 2018 (and the last seven years), the Schroders 'Platform of the Year' award for 2018 (and the last three years) and recently won 'Best Platform' and 'Platform Innovation' at the 2018 Money Marketing Awards.

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January 28, 2019 13:21 ET (18:21 GMT)