Nucleus Group’s Third Financial signs landmark deal with Titan Wealth
Third Financial, the technology-led platform specialist within the Nucleus group, has today announced a significant extension of its strategic partnership with Titan Wealth Group, to provide an Adviser as a Platform (AaaP) solution to their Wealth Planning Division.
The landmark deal will run for an initial term of five years and is the largest ever signed by Nucleus and one of the biggest deals of its kind in the industry. It has enabled the launch of The Titan Wealth Platform, an end-to-end wealth management service, developed in a matter of months.
Third is powering the new platform through a combination of its Model B custody service and AaaP-specialist technology and will take on full custody of client assets within Titan’s Wealth Planning Adviser business.
The Titan Wealth Platform is already being rolled out across Titan Wealth Planning, with the expectation that several billions of client assets will be migrated gradually from other platforms.
The platform solution will not only help streamline Titan’s operation but also represents a significant growth opportunity for Nucleus, with Titan targeting £100bn in assets under administration over the next three to five years.
Commenting on the deal Andrew Fearon, joint-CEO and Head of M&A at Titan said: “We’ve had a long-standing relationship with Third Financial as the provider of software services to our business. A key driver in deepening the relationship was the capability of the wider Nucleus group to provide an innovative, AaaP solution to power our new platform. It was up and running in only a couple of months and we’ve already transferred almost a billion of client assets.
“The new platform is enabling us to scale and integrate our Wealth Planning business effectively, while our clients will benefit from consolidated financial planning and investment services, an enhanced digital experience and cost efficiencies.”
Mike Regan, Chief Commercial Officer at Nucleus added: “The fact that Titan Wealth Planning has put their trust in us as the driving force behind their new platform, demonstrates that we’re now considered the provider of choice for those larger firms looking to take more control of their Adviser platform proposition. Our combination of market leading technology, personalised service and financial strength continues to set us apart in the market.
“The scale of our operation means we’re uniquely placed to support the growth ambitions of these large wealth groups, and we’re thrilled to be working with Andrew and his team on this transformational partnership.”
Alongside Nucleus’ long-standing retail platform and retirement product propositions, the added wealthtech expertise of Third Financial and Dunstan Thomas means it’s now the only large-scale platform group that offers a comprehensive range of bespoke solutions for advice and wealth management firms of all sizes.
Enquiries:
Linda Harper - Head of Public Relations T: 07876 145309
Philippa Heal - Public Relations Manager T: 07783 314210
E: newsroom@nucleusfinancial.com