Adviser-owned wrap platform Nucleus has signed up two new IFAs, taking the total number of firms with a stake in the company to 22.
Booth Wealth Management and Applewood Asset Management are the latest firms to join the wrap, since the seven founding IFAs went live with the business in December 2006.
Nucleus says the two went through a due diligence process and have been approved by the acceptance committee.
David Ferguson, Nucleus chief executive, says the firms have also taken an equity stake in the platform.
“The level of interest we are getting from high-end IFA firms is overwhelming and demonstrates a desire from that part of the IFA community for a truly independent wrap proposition that puts them in control,” he says.
“Wrap is about strengthening the adviser/client relationship and enhancing the customer experience and at Nucleus we believe an IFA-owned proposition is the only credible approach to achieving this.”
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