Like the other IFAs which have joined Nucleus, Strategic Asset Managers will take an equity stake in the platform firm. Nucleus says financial advisors are at the centre of its proposition, and as part of this it has recently expanded its IFA advisory board - which meets quarterly - from five to seven member firms.

“Being part of a community of like-minded firms was a key factor in our decision to invest in the proposition - knowing that our interests are very much aligned with those of the other members and that together we could influence the future development and direction of the platform,” said Derek Stewart, managing director at Strategic Asset Managers.

“Another key factor in the decision was that Nucleus’s main business focus is on delivering an open, transparent wrap without other distractions leaving us to spend time looking after our clients. Essentially, we are working with colleagues at Nucleus rather than being employees of a provider, which is just the way we like it.”

The February additions to Nucleus's IFA advisory board were Reeve Sims and The Fry Group. They joined Asset Management IFA, Central Investment Services, FA Watts, Helm Godfrey and HKA.