The firm reported that its Assets Under Administration (AUA) increased 6.8% year-on-year to £15.7 billion compared with a benchmark FTSE All-Share Index fall of 1.6%.

In the year to date, those assets have risen 13.1% while the benchmark lifted 10.5%.

Despite this, the firm has warned that its cash outflow is still “higher than normal”.

In a trading update for the three months to the end of September, Nucleus Financial Group said gross inflows had increased for the third consecutive quarter, to £490 million. Net inflows remained steady with both the Q2 and Q3 figure at £111m.

The number of advisers actively using the Nucleus platform rose 2.1% year-on-year to 1,389, while customer numbers were up 3.6% year-on-year to 95,373.

Outflows in the third quarter amounted to a total of £379m with the year-to-date total standing at just over £1bn.

David Ferguson, the firm’s founder and chief executive, told The Scotsman: “Gross inflows increased, albeit marginally, for the third successive quarter against a backdrop of continued investor uncertainty.

“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.

“Net inflows remained stable at £111m and, as previously reported, we are in the early stages of a new partnership agreement with one IFA [independent financial adviser] 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.”