Nucleus Financial Platforms has received approval from the Financial Conduct Authority (FCA) for its acquisition of Third Financial.
Buying Third Financial, an investment platform and software provider, enables Nucleus to expand its ‘adviser-as-a-platform’ proposition, the firm said.
The newly enlarged company will offer a complete range of platform, product and software for advisory businesses, consolidators and discretionary fund managers (DFMs).
The move is part of Nucleus’ strategy of building scale so it can continue investing in product, service and price.
See also: The asset allocator diary: James Sullivan
Chief executive Richard Rowney 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.”
Nucleus has £89bn of assets under administration from 235,000 customers.
See also: Söderberg and Partners continues UK expansion with stakes in four IFA firms
