Nucleus Financial Platforms Group has announced the launch of the Nucleus Foundation – its new dedicated philanthropic arm.
The Nucleus Foundation will be launched with £750,000, entirely funded by the business and governed by a committee of independent and staff trustees. Nucleus is appointing eight employee trustees from across the business that represent its locations in Edinburgh, Glasgow, London and Salisbury and also includes remote workers.
Nucleus received Charity Commission approval for the Foundation earlier this month, meaning it can now officially begin work as a registered charity. The Foundation will focus its efforts on five core areas across some of the issues and causes most important to the business and its people.
- The first will be supporting local community causes, adopting a place-based-giving approach to providing grants and financial assistance to causes in the locations where Nucleus is based across the UK.
- Encouraging more women into financial advice careers will be another key area of focus for the Foundation, working alongside charities who support the education and development of women into careers in financial advice and planning.
- Aligned with Nucleus’s purpose, the Foundation aims to help make retirement more rewarding and will also support disadvantaged people who are retired or approaching retirement age, by providing grants and working alongside organisations who assist those without access to financial advice or pension products.
- Employee sponsorship and donations will be another core element of the Foundation, with Nucleus boosting funds raised by its people for the charitable causes close to their hearts.
- Finally, funding will also be allocated to provide targeted support for employees their families in time of need, offering financial assistance in cases of emergency and hardship which are outside of standard workplace policies.
Richard Rowney, Chief Executive Officer of Nucleus, said: “The launch of the Nucleus Foundation is a significant milestone and underpins the positive contribution and impact we want to make. The enthusiasm and excitement about the Foundation from our people has been inspiring and I’m delighted that we’ve now been granted charitable status, ready for our philanthropic work to really gear up in 2023.”
Nucleus is one of the UK’s leading independent retirement-focused platforms, operating from offices in Edinburgh, Glasgow and Salisbury. The business administers approximately £43 billion* of customer assets across self-invested personal pensions, individual savings accounts, general investment accounts and other products, for over 5,000 financial advisers and serving more than 160,000 underlying customers across the UK.
Since the creation of the combined group, the development of a new retirement platform has started. The business’ combined scale, and the profitability that comes with it, is enabling it to invest in products, price, service, and its people.