Strategy
Six New Firms Join Advisor-Owned Wrap Platform
UK-based Nucleus Financial Group has signed up a further six independent financial advisor firms to its advisor-owned wrap platform, bringing the number of firms holding a stake in the business to 28. Seven founding IFAs went live with the business in December 2006. H J Scott & Co, Coleman Financial Services, Robson Macintoch & Co, Budge & Co, Applewood Wealth Management and Wealth Port Management are the latest recruits. All have joined since October. The joining firms bring the number of advisors using the platform to around 190 and take the assets controlled by the 28 owner-IFA firms to around £8 billion ($16.3 billion). Nucleus chief executive David Ferguson said: "To have close to 30 firms invested in Nucleus after 11 months of operation is a fantastic endorsement and we are thrilled at the huge ongoing interest among high quality advisors."