Nucleus completes £242m Curtis Banks acquisition

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 AUM.

The platform will assist almost 5,000 advisers with retirement planning for nearly 250,000 clients, the enterprise mentioned.

Richard Rowney, chief government of Nucleus, mentioned: “Immediately we welcome our new colleagues to the Nucleus Group and we’re excited to start out work on bringing our companies collectively.”

He mentioned the deal was an essential 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 government of Curtis Banks, mentioned: “The completion means we are able to now harness the alternatives it brings and have the ability to supply advisers entry to a broader suite of platform companies, whereas persevering with to supply each our on and off platform companies, a bigger buyer assist perform and have the flexibility 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 instant future each companies will proceed to function independently and there might be no change for advisers or clients of both enterprise. Curtis Banks will ultimately be rebranded beneath the Nucleus banner.

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