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Nucleus Monetary Platforms has accomplished its £242m acquisition of SIPP and SSAS supplier Curtis Banks to create a retirement-focused adviser platform with roughly £80bn in Belongings Below Administration.
The platform will assist practically 5,000 advisers with retirement planning for nearly 250,000 purchasers, the enterprise stated.
Richard Rowney, chief govt of Nucleus, stated: “Right now we welcome our new colleagues to the Nucleus Group and we’re excited to start out work on bringing our companies collectively.”
He stated the deal was an vital milestone for the enterprise.
“It helps us to construct on our place as a key participant out there, enabling us to proceed to put money into the priorities of advisers, and ship our goal of serving to make retirement extra rewarding.”
Peter Docherty, interim chief govt of Curtis Banks, stated: “The completion means we are able to now harness the alternatives it brings and be capable to provide advisers entry to a broader suite of platform providers, whereas persevering with to supply each our on and off platform providers, a bigger buyer assist operate and have the power to put money into the enterprise.”
In July Nucleus self-referred the merger to the CMA which said earlier this month it would not launch an investigation into the deal because it didn’t current competitors points.
The FCA, PRA, and Solicitors Regulation Authority had earlier issued their approvals of the merger.
For the fast future each companies will proceed to function independently and there shall be no change for advisers or prospects of both enterprise. Curtis Banks will ultimately be rebranded beneath the Nucleus banner.
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