Nucleus Financial confirms planned July AIM float

The company said it will apply for admission of its ordinary shares to the AIM market with trading expected to commence in late July, with Shore Capital acting as nominated adviser, sole bookrunner and broker, while Craven Street Capital is acting as financial adviser for Nucleus during the process.

Nucleus said the placing will be in respect of pre-existing ordinary shares held by a combination of financial advisers, employees and directors, with no new shares being issued and no proceeds receivable by Nucleus.

David Ferguson, chief executive and founder of Nucleus, said: "We expect this admission to AIM to mark an important milestone in the business's maturity and to open up new opportunities for us. We remain committed to keeping adviser/client alignment and transparency at the heart of what we do and to continue developing a market-leading platform and best in class customer service."

The company said it offers custody, trading, payment, reporting, fee-handling, research and integration services across a variety of tax wrappers and asset choices including cash, OEICs, Unit Trusts, offshore funds, structured products and listed securities, including ETFs and investment trusts.

Ferguson also stressed that he believed the firm’s growth, from assets under administration of £100m in 2007 to £14.3bn today, was due to the businesses "strategic alignment of advisers and their clients".

Along with the £14.3bn of assets held by the company on behalf of over 90,000 clients, Nucleus has 2,200 adviser users spread across more than 800 financial adviser firms.

Angus Samuels, chairman of Nucleus, said: "Nucleus is a business that has been built in collaboration with advisers and we are proud to be embarking on the next stage of the Company's development together. This is an exciting moment for the business and one we could not have achieved without the support of our dedicated team and community of supportive adviser users."