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FinTech: Nucleus Delivers First Dividend

Brian Baglow

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Edinburgh-based FinTech company delivers £4.3 million payout after a year of growth.

Following five years of growth, increasing revenues and profitability, Nucleus Financial the ‘wrap platform‘ company has delivered its first dividend.

The Nucleus dividend will be paid to the company’s shareholders: investment firm Sanlam UK, along with a number of financial advisors – businesses and individuals – as well as members of staff and senior management who hold shares.

Last year Nucleus’s profits hit £4.3 million – an increase of 21% from 2015. Assets Under Administration (AUA) at the end of 2016 reached £11.4 billion, an increase of 23%.

The company has also had a strong start to 2017/18. Gross inflows were up by 44.8% to £1.3 billion, AUA are up 28% to £12.8 billion and revenues have increased by 26.5% to £19.5 million.

David Ferguson - CEO - Nucleus FinanceDavid Ferguson, the founder and CEO of the company, said: “Not only is it a testament to the strength of the underlying fundamentals of the business, but also the passion, dedication and hard work of every single person who has been involved in the business over the past eleven years.

“We are investing more than ever in growth and product development and we have a bigger regulatory capital buffer than ever, even after making this payment, so it felt the right time to pay a dividend.”

“Following five consecutive years of increasing revenues and profitability that has seen the business become debt free with over £15 million of cash reserves, Nucleus is better positioned than ever to take advantage of the significant growth opportunities in the platform sector.”

“We believe we are poised to accelerate this progress even further by remaining fully committed to investing in next generation technology and enhancing a platform proposition that has been designed hand in hand with advisers.”

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Brian Baglow

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