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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
