Our platform
Our charges
Nucleus is completely open - with no hidden charges on accounts or dealing. Our charging structure is simple and transparent and starts from 0.33%, with tiering for large cases to 0.05%. We don't apply a platform charge on cash balances held in your accounts. And, unlike other wrap platforms, we won’t charge you for transferring money, moving into drawdown, or for day-to-day trading of funds.
Members of the UK Platform Group have developed a factsheet to help consumers compare platform charges – the factsheet outlines the types of charges imposed by platforms and the different labels that are used across the industry to describe such charges.
Our approach to cash interest
Our active management of customer cash means we can credit our customers with a competitive rate of interest. We retain some of what’s earned so we can keep our charges low, as well as invest in our technology, propositions and provide higher service levels. Our aim is to deliver excellent financial outcomes for you, and ultimately help make your retirement more rewarding.
Several alternatives are available to those seeking investment-style returns on their spare cash, in some instances by locking into longer-term cash products. These include Bondsmith (offering a range of term deposits at several banks), money market funds, lower risk rate model portfolios and/or gilts and bonds purchased through a stockbroker.
We deposit platform cash with a carefully selected panel of banks. We’ll only use banks which are authorised by the Prudential Regulation Authority, regulated by the Financial Conduct Authority and Prudential Regulation Authority, and are covered by the Financial Services Compensation Scheme (FSCS). More details on your financial protection can be found here.
The table below shows how we’ll share the interest generated on cash with you.
|
Earned interest rate (per tier) |
% of earned interest rate paid to customers (per tier) |
|---|---|
| 0.00% - 1.00% | No interest paid |
| From 1.00% - 1.50% | 50% |
| From 1.50% - 5.00% | 75% |
| Above 5.00% | 90% |
This table shows the rates of interest we have earned and paid:
| Rate of interest earned | Rate of interest paid | |
|---|---|---|
| 2022 Q1 | 0.02% | 0.02% |
| 2022 Q2 | 0.05% | 0.05% |
| 2022 Q3 | 1.80% | 0.48% |
| 2022 Q4 | 2.81% | 1.23% |
| 2023 Q1 | 3.55% | 1.79% |
| 2023 Q2 | 4.28% | 2.34% |
| 2023 Q3 | 4.93% | 2.82% |
| 2023 Q4 | 5.14% | 3.00% |
Contact us
If you need to get in touch with us you can get us on live chat or phone our client contact team.