Nucleus Financial Platforms has completed the acquisition of Third Financial, following regulatory approval from the Financial Conduct Authority (FCA).

Third Financial is an investment platform and front-to-back wealth management software provider which serves discretionary wealth managers, multi-family offices, and adviser consolidators.

The acquisition means Nucleus now has £97bn of assets under administration (AUA), while Third Financial’s software service supports the administration of a further £40bn of assets.

Nucleus also now has a comprehensive range of bespoke platform solutions for advice and wealth management firms of all shapes and sizes.

“We’re delighted to have successfully completed the acquisition and officially welcome our new Third Financial colleagues to the group,” Nucleus CEO, Richard Rowney, said. “At the heart of our offer is the fact that one size doesn’t fit all, and by combining the businesses we can now develop bespoke platform solutions for any client.

“We look forward to the next chapter in our growth journey with the integration of Third Financial, and to developing the opportunities opening up to us to serve the wider wealth sector.”

Chief executive of Third Financial, Ian Partington, will continue to lead the business reporting to chief commercial officer, Mike Regan.

Partington added: “Exceptional service, innovation, and deep knowledge of the financial advice and wealth management market have always been our core values. These are shared by Nucleus and we look forward to the opportunities ahead as part of a larger group.”

---