Nucleus Financial Group has signed up three more IFA firms to its adviser-owned wrap platform, taking to 13 the number of firms holding a stake.
The IFAs are AJS Wealth Management (London), Intelligent Capital (Glasgow), and Ward Mitchell Partnership (Leicester).
They are the second tranche of firms to join Nucleus since the seven founding IFAs went live with the business in December 2006.
Like all joining advisory firms, each of the three will take an equity stake in Nucleus, which is in detailed discussions with another 30 firms.
The new firms bring the number of advisers using the platform to around 100 and take the assets controlled by the 13 owner-IFA firms to just under £5bn.
David Ferguson, chief executive Nucleus Financial Group, said: “We believe the Nucleus business model is the only true solution for IFAs who want to move away from the value-eroding commission-based approach that has for too long dominated the industry.
“To have another three quality IFA firms invested in Nucleus so soon after going live is a fantastic achievement. It not only demonstrates the level of disenchantment that exists among quality advisers but also confirms our belief that they are more prepared than ever to do something about it.”IFAonline
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