Bowmore is latest win powering Nucleus’ growth
Third Financial, now part of the Nucleus group, has revealed that investment manager Bowmore is the latest in a series of client signings over the last 12 months that’s helping to drive its growth.
London-based Bowmore Asset Management, a discretionary wealth manager with
over £350 million in assets under management, has signed-up to partner with Third for an initial five year term. It transferred its entire book of business in under six months.
In total, Third has won the custody mandate for 10 new clients in the last year, including Capital Financial Markets, Lowes and Mountstone. Third’s technology is now used by more than 60 firms.
At the end of Q3, Nucleus reports that over £12.2bn of its £97bn assets under administration (AUA) were from enterprise solutions*, driven by £1.6bn of net flows year to date.
Chris Williams, Managing Director of Third Financial, a Nucleus group company said: “We’re delighted that Bowmore has appointed us as their platform partner. Our continued and sustained growth reflects our position as the first choice for investment managers and advisers seeking industry leading technology-led solutions, and a focus on great customer service.”
Jonathan Webster-Smith, Chief Investment Officer of Bowmore Asset Management added: “We were looking for a tech-forward platform who could help us to deliver the best service for our customers. This is what attracted us to Third and set them apart from other firms in this space.
“The team at Third really understood our needs, and we’ve been extremely impressed with their focus on delivery and commitment to getting it right for the client. We really look forward to working with them for years to come.”
* ‘Enterprise solutions’ is the collective term for a range of products, services and software options that enable large advisory firms and consolidators, investment managers and institutions, to take some or all control of their platform propositions. They’re powered by Nucleus and its wealthtech specialists Dunstan Thomas, alongside Third Financial, which the group acquired in June.
ENDS
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Head of Public Relations
Linda Harper (Monday - Wednesday) T: 07876 145309
Victoria Webb (Wednesday- Friday) T: 07969 113758
E: newsroom@nucleusfinancial.com
About Nucleus:
Nucleus Financial Platforms is one of the UK's leading independent groups for investment platforms, products and wealthtech software.
It’s the only large-scale group with a comprehensive range of bespoke platform solutions to meet the needs of advisory and wealth management firms of all sizes.
It operates the Nucleus Wrap and James Hay Online retail investment platforms, and through Curtis Banks and Talbot and Muir is one of the UK’s largest administrators of SIPP and SSAS products.
With the wealthtech experience of Third Financial and Dunstan Thomas, Nucleus now powers some of the industry’s leading product providers, advisory firms and consolidators, discretionary investment managers and institutions, with enterprise-wide, platform software solutions.
Working exclusively in partnership with over 5,300 financial advisory firms, the group now administers £97 billion of investments on behalf of over 230,000 UK customers, seeking to deliver great service and financial outcomes for them, and ultimately help make their retirement more rewarding.
About Third Financial:
Third Financial is the leading investment platform for the thinking wealth manager, now part of the Nucleus Financial Platforms Group. It brings together its own market-leading technology and the expertise of over 100 industry professionals within a culture of exceptional client service.
It provides the core processing, asset servicing and market connectivity for the management of over £50bn of assets. It delivers a full digital experience to investment managers, advisers and their clients with the reassurance of friendly and expert support when required. Third Financial has offices in London and Birmingham.