Nucleus has placed the ownership structure of the wrap under review in light of adviser charging rules concerning potential conflicts of interest.
Parent company Nucleus Financial Group's directors' report for the year ending 31 December 2012 said the Retail Distribution Review (RDR) had placed the company's IFA-ownership model under scrutiny. Under the existing model, advisers can invest in Nucleus via Nucleus IFA Company. However, the regulator is asking firms to disclose and manage potential conflicts of interest which may arise from advisers holding a financial interest in providers or platforms. "The new regulations have made the business model of one of our shareholders, Nucleus IFA Company Ltd (NIFAC) redundant and Nucleu...
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