Nucleus eyes D2C platform move to serve orphan clients

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Nucleus is considering launching a direct-to-consumer (D2C) platform in an effort to better serve the 6,000 orphaned clients it currently redirects to Hargreaves Lansdown each year.

Nucleus is currently an IFA-only platform, owned in part by its member firms, but it has identified a need to branch out into the D2C space in order to tackle the problem of orphaned clients. With IFAs increasingly concentrating on higher net worth individuals, platform providers have been left to deal with the resulting orphaned clients, whose assets remain on those platforms. David Ferguson (pictured), chief executive of Nucleus, said the plans are in the early stages but acknowledged the platform needs to address the issue of orphaned clients. "There is a problem to be solved. W...

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