Verso’s strategic platform partnership with Nucleus helping to power its growth plans
Verso, the wealth management consolidator, has developed a strategic partnership with Nucleus, which is key to supporting its growth plans.
The Verso platform, with the technology provided by Nucleus, is a tailored, enterprise-level solution developed to significantly improve the user experience for its adviser base, in turn enabling them to offer better outcomes for their clients.
Nucleus and Verso have been working collaboratively over the last twelve months to develop and launch the new platform with the transfer of existing client assets well underway.
Commenting on the partnership, Verso Chief Executive, Alan Mathewson said: “As a result of our buy-and-build consolidator model, we ended up with a proliferation of different platform providers.
Following this period of intense consolidation, we took the strategic decision to bring together the group’s acquired firms under a single brand, a streamlined operational structure, and a new investment proposition. This included developing our own single platform.
Nucleus was already the platform provider to an advisory firm we had acquired, so speaking to them about developing our own enterprise-wide solution was a logical step given their scale, financial strength and experience as a leading platform and wealthtech group.
The bespoke solution that we’ve developed together means we’re able to leverage Nucleus’ technology and platform expertise to create a scalable platform that is key to our growth ambitions. Our goal is to achieve £5bn in assets under management within the next two years.”
Mike Regan, Chief Commercial Officer at Nucleus added: “We pay close attention to trends in the advice market, especially with the growing number of consolidators and large advisory firms who are looking to take more control of the platform experience under their own brand and proposition.
We’re delighted that Alan and his team placed their trust in us as their enterprise technology partner. It’s a huge vote of confidence in our people, our technology, and our ability to build bespoke solutions for larger advisory firms who want to offer their own platform to meet their specific needs.”
Alongside our long-standing retail platform and retirement product propositions, the wealthtech software expertise of Third Financial and Dunstan Thomas means we’re now the only large-scale platform group that offers a comprehensive range of bespoke solutions for advice and wealth management firms of all shapes and sizes.”
Verso’s most recent acquisition saw it buy the Henley-on-Thames wealth management team from WH Ireland Group plc earlier this year. Verso has now completed and integrated seven acquisitions since 2021.
Enquiries:
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 over £99 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.