Nucleus Financial Group has been named this year’s Scottish Financial Services Awards winner due to its “highly innovative and customer focussed technology-based business model.”
The company beat off competition from nominees including: Avaloq, Castlight, FreeAgent and HSBC.
Entrants are judged on their contributions to Scotland’s standing as a financial centre, their long-term perspectives, the benefits for customers and their innovation and imagination.
The platform, which was established in 2006 and now employs 180 people, allows financial advisers to combine clients’ investments into a single, manageable online account. The company now has £13 billion funds under management and 90,000 customers across the UK.
The Edinburgh-based firm is heavily involved in supporting the Scottish Financial Enterprise (SFE) FinTech strategy; with its Founder and Chief Executive, David Ferguson, appointed one of two Scottish FinTech envoys by HM Treasury last year, to champion the sector locally and globally.
David Ferguson, the Founder and Chief Executive of Nucleus Financial, said:
“We’re thrilled to collect this award and to achieve such great recognition from Scottish Financial Enterprise and the wider membership, especially against such a strong field. We’re very grateful to the judges for acknowledging our work and we look forward to celebrating with the amazing people who have made Nucleus what it is today.
“We created Nucleus to put the customer centre stage and £13 billion later, our highly skilled and passionate team are still giving it their all to make this happen. I’m immensely grateful for everyone who’s helped us get to this point, and particularly for the wisdom of our late chairman, Paul Bradshaw, who would have loved this award but sadly passed away in January. We’ve always had very big plans for Nucleus and I’m sure this award will help nudge us along a little bit faster.”
Rising Star Award
The winner of the first Rising Star Award was also announced. Created to recognise a young professional for their personal success and contribution to the financial services industry, the first ever Rising Star went to Victoria MacLean of Aberdeen Standard Investments.
The equities investment manager joined ASI as a graduate in 2012 and quickly progressed through the ranks, while also being involved in internal and external leadership programmes and helping drive innovation at ASI. Ms MacLean is a founding member of SFE Young Professionals and takes an interest in improving diversity in the industry.
Sue Dawe, EY Partner and Head of Financial Services in Scotland, who presented the awards, said:
“Scotland is one of the world’s most exciting hubs for FinTech innovation and this year’s winner of the Scottish Financial Services Award, Nucleus, is a shining example of the world-class capabilities we offer in this field.
“Scotland’s enduring legacy as a leading financial centre will rely on our ability to successfully nurture the next generation of industry professionals. I am delighted this year we celebrate our first Rising Star Award winner who exemplifies all that is great about our industry today and is a symbol of the exciting future ahead for the sector.
“Congratulations to the winners and all of the finalists who make such a positive impact to our industry and our economy.”
Jim Pettigrew, Scottish Financial Enterprise Chairman, said:
“Nucleus Financial are a thriving Scottish FinTech who have made a significant impact on the financial services landscape since they launched just over a decade ago. They are dedicated to helping the FinTech sector grow through innovation and are helping to ensure Scotland is a world-leader in our continuously evolving industry.
“Congratulations to everyone at Nucleus Financial on winning the Scottish Financial Services Award for 2017.
“SFE has proudly represented our strong and varied financial services industry for 31 years and I would like to thank all our members for their valuable contribution to our industry.”