Murphy, which was established in 1977, is based in Glasgow and Ayr. The firm is led by founder Brian Murphy and associate partner Adrian Murphy. 

“What particularly impressed us is their ownership culture and approach, essentially allowing its users to influence the direction of the platform,” Adrian Murphy said in a statement.  

Nucleus also said that it has now reached £3.5 billion (about $5.2 billion) in assets under administration. 

Last month, the firm added a number of services to its platform, including an online cash withdrawal function for general and ISA accounts, and access to an instant online service to process client contact details.