On behalf of David Ferguson, CEO
With just 10 days to go until the Scottish referendum and recent reports showing a narrowing of the vote we would like to take this opportunity to restate our position.
Nucleus Financial Services (the regulated subsidiary which operates the Nucleus platform) is a Scottish-based company registered in England. In the event of a 'yes' vote it is widely anticipated that the process of moving to independence would take at least 18 months. The Nucleus board is confident that the way we are structured, and the agreements we already have with major partners, provide the flexibility we might need to swiftly implement any changes necessary to optimise our post-referendum structure, and protect the interests of our customers (both north and south of the border) our shareholders and our staff.
In the meantime, we would like to reassure you and your clients that their investments are secure and their money is safe and will continue to enjoy the same level of regulated financial protections for the foreseeable future.
We maintain our belief that this issue has wider implications across our industry and may impact not only those platforms with head offices based in Scotland, but also those platforms dependent on Scottish-based suppliers of services such as platform technology, stockbroking, fund management and banking.
In short, there are a wide range of scenarios that could emerge post-September 18, regardless of the outcome of the vote. This obviously makes detailed forward planning tricky, but please be assured that we will update you as soon as we can to continue to reassure you and your clients of our position.