Nucleus signs up six firms in 2011

Nucleus has signed up six IFA firms this year on the back of a surge in adviser interest.

The six new firms - which include Assetz Wealth, James Hair and Co, Page Russell, Russell Gibson and Serenity - have all taken equity stakes in the IFA-owned wrap which now boasts over £2.3bn of assets.

"2011 has got off to a tremendous start for the business," says business development director Barry Neilson.

"As every month brings the introduction of RDR closer, we are seeing a significant acceleration of firms undertaking wrap platform due diligence and looking to partner with a wrap proposition which reduces their reliance on traditional providers, giving them more control over the delivery of their chosen client proposition."

Nucleus now has 72 individual adviser firms who have equity stakes in the wrap.

Serenity life planner Tina Weeks says: "As a platform Nucleus brings something very special and unique to the market due a combination of the control and input of the adviser community that own and use it - the quality of which is extremely high - and the total transparency of its offer and offering.

"Furthermore, it boasts a charging structure that is not only more straightforward and simple than the competition but lower too."

In December, Nucleus completed a £15m rights issue, undertaken to clear debt accumulated at start-up.