Third Financial, the technology-led platform specialist within the Nucleus group, has signed a landmark deal with Titan Wealth Group to deliver an Adviser as a Platform (AaaP) solution for its Wealth Planning Division.
The five-year agreement is the largest ever signed by Nucleus and one of the biggest of its kind in the industry. It underpins the launch of the Titan Wealth Platform, an end-to-end wealth management service built in just a few months.
Third Financial will power the new platform through its Model B custody service and AaaP-specialist technology, taking full custody of client assets within Titan’s Wealth Planning business.
The platform is already being rolled out, with several billions of client assets expected to migrate over time from other providers.
The deal will streamline Titan’s operations while creating a major growth opportunity for Nucleus, with Titan targeting £100bn in assets under administration within three to five years.
Andrew Fearon, joint CEO and head of M&A at Titan Wealth, 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.”
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 the provider of choice for 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.”
Nucleus said the deal highlights its position as the only large-scale platform group offering a full range of bespoke solutions for advice and wealth management firms, supported by the combined expertise of Third Financial and Dunstan Thomas.
Last February, Nucleus acquired Third Financial to strengthen its adviser-as-a-platform proposition. The deal has enabled Nucleus to extend its platform solutions to advisory firms of all sizes.
