Australian FinTech company profile #103 – Nucleus Wealth

Australian FinTech company profile #103 – Nucleus Wealth

1. Company Name: Nucleus Wealth

2. Website: www.nucleuswealth.com

3. Key Staff & Titles:
Damien Klassen – Head of Investments
Tim Fuller – Head of Advice
Shelley George – Head of Operations
David Llewellyn-Smith – Chief Strategist

4. Location(s): Australia

5. In one sentence, what does your fintech do?: Nucleus Wealth provides quality, transparent, low cost, ethically tailored superannuation and investments to everyday Australians, all through an easily accessible online onboarding process.

6. How / why did you start your fintech company?: To fill the void in the market between cookie-cutter robo advice and high cost financial planning.

7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?: We made a terrific call prior to the March market mayhem that saw our clients ride through volatility relatively unscathed. This led to both the retention of current clients and a surge of new interest and investment. Working with quality media connections to spread the message, we have learned that you cannot sell a secret!

8. What’s some advice you’d give to an aspiring start-up?: Combine preparation with opportunity. Spend quality time in getting your offer up and reliable then hit the ground running with a great opportunity. Easier said than done, but when it all comes together the return is certainly worth all the work.

9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?: At present our focus is local and expanding within Australia, particularly into superannuation and further developing our fintech offering for current and future clients. We are looking to scale further into the retail investment space and potentially sourcing additional capital to help reach our goals.

10. What other fintechs or companies do you admire?: Whilst the Australian landscape in our area is sparse, it is developing quickly. We love that some companies are focusing on one particular pain point the can enhance and solve well with technology such as trouble free AML/CTF checks and compliance (such as GreenID) whilst others are looking at focusing on the broader market like the emerging Neobanks harnessing the open banking regime which we are very excited about using ourselves.

11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?: COVID19. Adapting our already predominately online offering to fully embrace the working from home challenges and maintain a cohesive team and deliver on client expectations. We doubled our team during the lockdown period with high quality hires that have strengthened our business for the post pandemic future.