Nucleus Financial Platforms (Nucleus), one of the UK’s largest adviser platform groups with £89 billion of assets under administration (AUA) from 235,000 customers, has received approval from the Financial Conduct Authority (FCA) for the acquisition of Third Financial.
Third Financial is a fast-growing investment platform and software provider. The acquisition enables the group to further expand its ‘adviser-as-a-platform’ proposition, offering a complete range of platform, product and software solutions for advisory businesses and consolidators, as well as discretionary fund managers (DFMs).
It’s fully aligned with Nucleus’ strategy of building scale so it can continue investing in product, service and price, while Third Financial will benefit from the financial strength, opportunities and capabilities of the wider Nucleus group.
Richard Rowney, Chief Executive Officer of Nucleus, said: “We’re pleased to have received regulatory approval and now look forward to welcoming the Third Financial team into our group. The acquisition extends and complements our existing enterprise and ‘adviser-as-a-platform’ proposition, enabling us to offer a full spectrum of platform models to advisers, consolidators and DFMs of all types.”
