Nucleus, the UK-based wrap provider which is owned by IFAs themselves, has signed up another two firms, AWA Wealth Management and Proposito, taking its roster of stakeholders to 80.

“As an IFA-designed and owned proposition it ticked all of the boxes in terms of ease of use and functionality but also meant that as owners we had a say in its future development and direction. This was hugely important to us,” said Rob Paulding, director at AWA Wealth Management.

Since its launch with seven founding IFAs at the end of 2006, the firm has grown to have 950 individual advisors on board and has seen £2 billion in inflows.

“The level of interest we continue to receive from high-end IFA firms from across the UK continues to be overwhelming and clearly demonstrates a desire from that part of the market for a truly independent proposition that puts IFAs in control,” said Barry Neilson, business development director at Nucleus.