Nucleus hires Skandia sales director

Nucleus has hired Skandia sales director Mike Wallis as new regional business development director.

Wallis, who starts his role next week, was UK sales development director at Skandia. He also had a four-year stint at Prudential.

He will be based in the South-East and is the IFA-owned wrap's first sales resource member to operate outside of Scotland.

Tom Coutts, formerly of Cavanagh, also joins Nucleus next week as IFA account manager.

CEO David Ferguson says the new hires are part of a drive to "up the pace" on the sales side as the wrap looks to get more IFAs to join up.

Wallis's appointment is also part of a strategy to disperse its sales force around the country, with new hires based in the Midlands and North soon to be announced.

The new additions - which bring the Nucleus headcount to 43 - follow the appointment of former Standard Life man Jeff Spence as wrap operations director and Richard Evans as technical operations manager earlier this month.

Ferguson also revealed two new IFA firms signed up to the wrap this week.

In April, Nucleus hit break-even point after recording its first profitable month. Ferguson says the profits will be re-invested to grow the business. The platform now holds £1.75bn in assets.