Nucleus says the move is aimed at ensuring the clients of those adviser firms already using the platform benefit from the improving profitability of the business. The aim is also to maintain a competitive pricing structure to keep up with rivals.
The company says its has had a record nine months with turnover up 39 per cent to £13.6m and a loss of £0.1m turned round to a profit of £1.3m.
The revised pricing structure, which came into effect on 1 November, is shown in the table below:
Barry Neilson, business development director at Nucleus, said: "It has always been our intention to ensure the clients of those advisers who use the Nucleus platform benefit directly from the continued success of the business and today's announcement is real evidence of that.
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"The new structure we have put in place is a result of feedback from our adviser community. They told us very clearly they wanted the model to remain simple but become even more competitive and our continued financial success has enabled us to deliver that for them."
Mike Seddon, chairman of the Nucleus advisory board, said: "The wrap market is highly competitive and with a number of new entrants, it is no surprise that costs are being driven down. It was important that Nucleus listened to the IFA community and acted accordingly with a price reduction.
"We are delighted that they have taken the opportunity to lower their platform charge for portfolios in excess of £500k, without detriment to development and customer service. To be able to do this and maintain profitability is a commendable achievement."
• Don't miss our exclusive Platform Survey - what planners need to know - in the next issue of Financial Planner, being published in mid-November.