David Ferguson

This figure is up 28.4% year-on-year and 3.1% on the previous quarter. By comparison, the FTSE All-Share Index increased 23.3% year-on-year and by 4.3% on the last quarter.

Throughout the first quarter of this year, gross inflows of £637m were achieved with March 2021 marking the firms best ever month for inflows. This represented a 29.5% increase on the previous quarter (Q4 2020: £492m) as sentiment continued to improve, and a 9.8% increase on Q1 2020.

Net inflows were £301m (with March being the firm’s second best ever month) up 44.7% against the prior quarter and up 12.3% on Q1 2020.

Advisers actively using the Nucelsu platform increased by 2.2% in Q1 2021 compared to the previous quarter and by 1.9% year-on-year.
Customer numbers also increased by 0.7% in Q1 2021 compared to the previous quarter and by 3.1% year-on-year.

David Ferguson, Nucleus’ founder and CEO, commented: “The first quarter has been incredibly strong for new business activity, reflecting the continued achievements of our people and validating our decision to maintain our investment programme through 2020.

“Q1 net inflows were substantially up on Q4 (and on the prior year) and, at over £300m for the first time in a single month, March was by far our best-ever month for inflows, a trend we’d hope to see continue as lockdown eases.

“User satisfaction continues to improve following the successful acquisition and integration of our new colleagues from OpenWealth. We are pleased with our Q1 performance. Profit for the year to date is ahead of the board’s expectations as a result of higher AUA and lower costs and we believe the business is well-positioned to accelerate inflow momentum and to expand our operating margin through the rest of this year and beyond.”