At Nexus, our preferred fund administration platform is Nucleus. Essentially, the platform allows us to monitor all your investments in one place. It includes all relevant tax wrappers such as pension wrappers including SIPP’s, individual savings accounts and onshore and offshore bonds.
At Nexus, we think Nucleus is particularly cost effective when switching between funds and different types of assets. This may be necessary if we agree to an adjustment to the asset allocation of your portfolio, for example, because of changed investment circumstances or perhaps because you are moving to safer investments as you get closer to retirement.
Nucleus is part owned by the IFAs which use the service while the largest shareholder is Sanlam, a South African financial services giant. It currently holds nearly £4bn of assets.
Before choosing Nucleus we carried out extensive due diligence on all the wraps in the market, with much more detailed analysis on Nucleus itself before making the final decision.
However while Nucleus remains our preferred platform we will make sure it is suitable for you in terms of your investment needs before we place any of your assets there.
Skandia remains our secondary platform and some of you may have decided to keep your assets on this platform, though in most cases we think there are benefits in changing not least cost benefits.