M and A
Deals Of The Day: The Latest In Wealth Management M&A – Nucleus, Third Financial
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Nucleus, Third Financial
UK-based Nucleus
Financial Platforms has secured regulatory clearance to buy
Third Financial, an investment platform and software
provider.
The acquisition – financial terms of which have not been
disclosed – will enable Nucleus to build its “advisor-as-a
platform proposition," it said. At present, Nucleus has ÂŁ89
billion ($113 billion) of assets under administration.
Third Financial serves discretionary wealth managers,
multi-family offices, and advisor consolidators.
“The acquisition extends and complements our existing
enterprise….enabling us to offer a full spectrum of platform
models to advisors, consolidators and DFMs of all types,” Richard
Rowney (pictured), chief executive of Nucleus, said in a
statement yesterday.
Richard Rowney
