Seven more IFA companies have taken up a stake in Nucleus Financial Group, taking the number of adviser firms signed with the wrap to 20.
Total advisers using the platform is now around 150, while the assets controlled by the 20 owner firms equal £7bn.
Nucleus says the seven were subjected to a “rigorous due diligence process” by its acceptance committee, and have all taken an equity stake in the company.
“To have 20 IFA firms of such quality invested in and using Nucleus so soon after going live is a significant achievement and something we are extremely proud of,” Nucleus chief executive David Ferguson says.
“The level of interest we have had from high-end IFA firms has been overwhelming and clearly demonstrates a desire from that part of the market for a truly independent proposition that puts IFAs absolutely in control.”
Newly joined Leicester-based firm Ward Mitchell says Nucleus stood out from the crowd.
“As a business that prides itself on its independence it was important for us to find a proposition that wouldn’t compromise us in any way,” director Jonathan Howard says.
“As an IFA-designed and owned proposition it ticked all of the boxes in terms of ease of use and functionality but also meant that as owners we had a say in its future development and direction.”
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