Nucleus expects to increase its assets under administration to around £90bn with the purchase of investment platform Third Financial.
The firm said it will allow it to extend its platform solutions to advisory firms of all sizes.
Richard Rowney, chief executive officer of Nucleus, said: “By combining our scale, expertise and relationships, with [Third Financial's] innovative technology, we’ll be able to offer a broader proposition to serve the needs of wealth managers and advisory businesses across the sector."
Third Financial serves discretionary wealth managers, multi-family offices, and adviser consolidators.
It has more than 50 UK clients and £6bn of assets under administration on its platform with a further £40bn via its software system, Tercero.
Rowney added: “Their focus on innovation and client centricity has clearly differentiated their business, establishing them as one of the leading investment platform providers, and they will be a great addition to our group.”
Nucleus Financial Platforms has more than £80bn of assets under administration from 250,000 customers.
The deal means Nucleus will benefit from Third Financial's technology which allows larger businesses to offer their own platform.
Ian Partington, group chief executive of Third Financial added: “With our combined expertise and resource we can deliver even more to existing and future clients both in terms of products and service. Collectively our focus will remain on running a stable and profitable expanded service, continuing to support clients so they can deliver great outcomes for their customers.”
tara.o'connor@ft.com
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