Nucleus adds four more member firms

Four new firms have taken an equity stake in IFA-owned platform Nucleus.

Southampton-based Cube Financial Planning, Finchley-based Philip Masters IFA, Staffordshire-based Intelligent Wealth Management Partnership and wealth manager Totus - which has offices in Gibraltar, Spain and the UK - have all joined David Ferguson's wrap.

Cube Financial Planning was set up by Mike Godfrey who previously launched FS3, the wealth management business sold to Bluefin in 2008.

"Being owned by its member IFAs enables Nucleus to stand out in the industry, thanks to the level of input it receives from its adviser community," said Godfrey.

The new member firms join as the wrap's assets under management have surged to just under £3bn in less than five years.

"2011 has already been a very successful year for the business," said business development director Barry Neilson. "As the introduction of RDR comes ever closer, we are seeing a significant acceleration of firms undertaking wrap platform due diligence and looking to partner with a wrap proposition that reduces their reliance on traditional providers."