Nucleus, Third Financial
UK-based has secured regulatory clearance to buy Third Financial, an investment platform and software provider.
The acquisition – financial terms of which have not been disclosed – will enable Nucleus to build its “advisor-as-a platform proposition," it said. At present, Nucleus has £89 billion ($113 billion) of assets under administration.
Third Financial serves discretionary wealth managers, multi-family offices, and advisor consolidators.
“The acquisition extends and complements our existing enterprise….enabling us to offer a full spectrum of platform models to advisors, consolidators and DFMs of all types,” Richard Rowney (pictured), chief executive of Nucleus, said in a statement yesterday.
Richard Rowney