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Nucleus, an independent wrap platform provider, has reported that it has grown its assets under administration (AUA) to £18.9 billion as of 30 June 2021.
This was up 19.2% year-on-year and 5.1% on the previous quarter.
The FTSE all-share index increased 17.7% year-on-year and by 4.8% on the last quarter.
In Q2, gross inflows reached £578 million, a 50.5% increase from the same period last year.
Net inflows were up at £193 million, a 17% increase compared to Q2 2020. David Ferguson, Nucleus' founder and CEO, said: The first quarter of 2021 was incredibly strong for new business activity, and it was pleasing to see inflow momentum continue throughout Q2 and to reach £19bn of AUA following the quarter end.
It was a particularly resilient performance given the ongoing uncertainty of the takeover process and reflects the ongoing achievements and fortitude of our people along with our commitment to continually improving the core platform proposition for our users.
The number of advisers using the platform increased 0.5% compared to the previous quarter.
Following the acquisition of OpenWealth assets in December, a new Glasgow office was opened in May for new Nucleus staff.