Independent adviser platform group Nucleus has completed its acquisition of Third Financial, following regulatory approval from the FCA.
Furthermore, the Third Financial deal expands Nucleus’ capability in the “adviser-as-a-platform” space and is the only large-scale platform group with a number of bespoke platform solutions. These can cater to advice and wealth management firms of all sizes.
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Third Financial is an investment platform and front-to-back wealth management software provider. It serves discretionary wealth managers, multi-family offices and adviser consolidators.
Richard Rowney, chief executive officer of Nucleus, said: “We’re delighted to have successfully completed the acquisition and officially welcome our new Third Financial colleagues to the group. At the heart of our offer is the fact that one size doesn’t fit all, and by combining the businesses we can now develop bespoke platform solutions for any client.
“We look forward to the next chapter in our growth journey with the integration of Third, and to developing the opportunities opening up to us to serve the wider wealth sector.”
Ian Partington, chief executive of Third Financial, added: “Exceptional service, innovation, and deep knowledge of the financial advice and wealth management market have always been our core values. These are shared by Nucleus and we look forward to the opportunities ahead as part of a larger group.”
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By GlobalDataThe group is now entrusted with £97bn of assets under administration (AUA). Third Financial’s software service supports the administration of a further £40bn of assets.
In April 2024, Third Financial signed Mountstone Partners, a discretionary wealth firm with £400m ($499m) in assets under management.
Mountstone on the Third Financial platform bolsters the latter’s commitment to the high net worth wealth management market, following its proposed acquisition by Nucleus.
In addition, Mountstone has signed for an initial six-year term, attributing this to Third’s service-orientated culture and functionally rich technology.
