Nucleus offers a ‘fintech’ service platform for financial advisers to manage all of their client holdings through a single portal. The system also provides tools for data analysis, visualisation and reporting. Nucleus has reported a profit of £4.3 million before tax, an increase of 21% over income with expenses in 2015. The value of clients’ held assets reached £11.4 billion at the end of 2016, and passed £12 billion by the end of March 2017.

Speaking about the figures, David Ferguson, Chief Executive of Nucleus, said: “This year will see a further increase in investment in our core platform technology, our people and in broadening our user proposition.

“This investment is critical in ensuring we can deliver a regular cycle of platform improvements in 2018 and beyond, as well as widening our range of services.”

The firm currently works with 76,000 clients and is the only independent firm of its kind in the UK. Taking a client-aligned approach, Nucleus aims to pair advisers directly with clients to increase transparency surrounding their finances.

Speaking in 2016, Business Development Director Barry Nielson said: “We live in a world now where big data allows people to go from designing products in isolation, to designing products with a specific type of client in mind.

“If you don’t have access to that data, how do you design your product, how do you know who your clients are and understand their unique requirements? Platforms have a huge competitive advantage because they will be able to give a detailed overview of clients that other parts of the industry don’t have”.

Nucleus has enjoyed considerable attention over the past few years, winning Schroders UK Platform Awards 2016 and best financial product/service at the ScotlandIS DigiTech awards from 2014 to 2016.

Nucleus was also rated by Scottish Development International as a potential ‘big hitter’ in London for 2017 among other Scottish Fintech firms such as accounting service FreeAgent and venture capital organisation Scottish Equity Partners.

Doug Heron, Chief Financial Officer of Nucleus, said: “We are extremely pleased with our 2016 results, particularly given the difficult set of market, political and economic conditions that existed throughout much of the year.”