Nucleus has acquired investment platform and wealth management software provider Third Financial, following regulatory approval from the FCA.
Third Financial serves discretionary wealth managers, multi-family offices, and adviser consolidators.
The platform group said the acquisition “significantly expands” its capability in the ‘adviser-as-a-platform’ space, enabling it to provide a comprehensive range of bespoke platform solutions for advice and wealth management firms of all shapes and sizes.
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, continues to lead the business reporting to Mike Regan, Chief Commercial Officer of Nucleus.
Partington 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.”
The group has £97bn of assets under administration (AUA). Third Financial’s software service supports the administration of a further £40bn of assets.
