Verso, the wealth management consolidator, has developed a strategic partnership with Nucleus, which is key to supporting its growth plans.
The Verso platform, with the technology provided by Nucleus, is a tailored, enterprise-level solution developed to “improve the user experience for its adviser base, in turn enabling them to offer better outcomes for their clients.”
Nucleus and Verso have been working over the last twelve months to “develop and launch the new platform with the transfer of existing client assets well underway.”
Verso Chief Executive, Alan Mathewson said:
“As a result of our buy-and-build consolidator model, we ended up with a proliferation of different platform providers. Following this period of intense consolidation, we took the strategic decision to bring together the group’s acquired firms under a single brand, a streamlined operational structure, and a new investment proposition. This included developing our own single platform. “
As noted in the update:
“Nucleus was already the platform provider to an advisory firm we had acquired, so speaking to them about developing our own enterprise-wide solution was a logical step given their scale, financial strength and experience as a leading platform and wealthtech group.”
They also mentioned:
“The solution that we’ve developed together means we’re able to leverage Nucleus’ technology and platform expertise to create a scalable platform that is key to our growth ambitions. Our goal is to achieve £5bn in assets under management within the next two years.”
Mike Regan, Chief Commercial Officer at Nucleus added:
“We pay close attention to trends in the advice market, especially with the growing number of consolidators and large advisory firms who are looking to take more control of the platform experience under their own brand and proposition. We’re delighted that Alan and his team placed their trust in us as their enterprise technology partner. It’s a huge vote of confidence in our people, our technology, and our ability to build bespoke solutions for larger advisory firms who want to offer their own platform to meet their specific needs.”
As stated in the update:
“Alongside our long-standing retail platform and retirement product propositions, the wealthtech software expertise of Third Financial and Dunstan Thomas means we’re now the only large-scale platform group that offers a comprehensive range of bespoke solutions for advice and wealth management firms of all shapes and sizes.”
Verso’s most recent acquisition saw it “buy the Henley-on-Thames wealth management team from WH Ireland Group plc earlier this year.”
Verso has now completed and integrated “seven acquisitions since 2021.”
