Nucleus continues to grow and invest in the future
Nucleus, our main Wrap Account* partner, has acquired the UK business and assets of Glasgow firm Genpact Wealth Management UK, trading as OpenWealth, in a £1.5m cash deal.
Since listing on the AIM market Nucleus has continued to grow with assets under management now sitting at £16bn. This deal builds on their recent work to bring more outsourced technology services in-house giving them more control over all aspects of their operations.
David Ferguson, founder and chief executive of Nucleus, commented: “Nucleus has continued to grow in recent years, and we expect the greater control afforded by the acquisition to further strengthen our positioning as we pursue our goal of being the most tech-enabled wrap platform in the UK”.
The acquisition will be funded from the company’s existing cash resources and completion is expected by the end of the year.