What is the size of Nucleus now?
A. We are up to 48 IFA firms that own and use the Nucleus wrap platform. These firms have a total of about 230 advisers. Our aim is to have 100 IFA firms in Nucleus by the end of this year. By that stage, we will go through the break-even point and start making a profit. Q. Have the numbers of IFAs that have signed up surprised you? A. We always had a great deal of confidence that the business model would attract IFAs to come to Nucleus. This is because Nucleus enables IFAs to take control of their businesses in a way they have not been able to before. By joining Nucleus, the IFAs are not under the control of the life and pension companies. Q. How do they take control? A. They gain control through the fact that Nucleus is majority owned by the IFAs. When they join Nucleus, IFA firms buy an equity stake in the business. IFAs make the decisions about the direction of Nucleus. It also means the decisions are made in the interests of the clients of the IFAs. We have an IFA advisory board t
