AIM listing for Nucleus gives £140m valuation

Edinburgh-based Nucleus Financial is valued at nearly £140 million as it floats on the Alternative Investment Market (AIM) today.

Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the client centre stage.

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It provides independent wrap platform services to over 2,200 adviser users across more than 800 financial adviser firms as at 30 June 2018. It is responsible for assets under administration (“AUA”) of £14.3 billion on behalf of more than 90,000 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 5,000 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 client account transactions on average per month.

Nucleus has won CoreData’s ‘best medium sized platform’ for the last six years, the Schroders ‘platform of the year’ award for the last two years and recently won ‘best platform’ at the Money Marketing Awards.

David Ferguson, Chief Executive of Nucleus, commented:

“This is an important milestone as we continue our work to support and promote the strategic alignment of advisers and their customers. It’s great to see so many institutional investors believing in the growth potential of this objective and we look forward to collaborating with our users to further promote transparency and improve customer outcomes.”

Stephen Trombala, corporate finance partner at Shepherd and Wedderburn and lead legal adviser to Nucleus on its listing, said: “Nucleus is a Scottish fintech success story that has seen exceptional growth in recent years, with £14.3 billion in assets now under management. Its listing on AIM marks a significant milestone for the company, and will provide a firm foundation for its continued growth.

We look forward to continuing to work with Nucleus as it continues to expand in the rapidly evolving Scottish fintech sector.”

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