Nucleus Financial, the UK-based wrap platform company, is now debt-free having completed a £15 million rights issue – a move which the firm believes will increase its attractiveness to more UK advisors as a mark of its financial stability.

As a result of the capital raising the firm now plans to appoint an additional four sales staff to promote its proposition across the UK.

The additional funding came from South Africa’s Sanlam - which has a minority stake - and Nucleus’ own member IFA firms.

Nucleus now has over 80 member firms, having added a further two IFAs - Wealth Matters and Pennine Financial Planning – to its roster earlier this month.