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Nucleus appoints advisory board chairman

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Nucleus advisory board chairman and Grayside managing director Mike Seddon

Nucleus has appointed financial planning firm Grayside managing director Mike Seddon as chairman of the platform’s advisory board.

Seddon takes up the role with immediate effect after being voted to act as chairman by fellow members of the advisory board. He will be responsible for representing the views of Nucleus users to the management team and group board.

Seddon replaces Central Investment director John Moore, who stepped down at the end of last year due to ill health.

Nucleus chief executive David Ferguson says: “At Nucleus all our strategic decisions are shaped by our member firms and the advisory board is one of the key elements in our decision-frameworks.

“Mike’s experience and input will be invaluable to me and the rest of the board and hugely important to the future development and success of the business.”

Grayside managing director Mike Seddon says: “I have been impressed by the management ethos at Nucleus and the transparent way of working is one of the reasons we at Grayside joined in the first place.

“It is absolutely right and proper as member firms we have proper representation at the board table and I look forward to playing my part in representing my fellow advisers. It is through this collaborative structure, I believe, Nucleus can continue to be a force for positive change in the UK financial advice market.”

Last week Nucleus confirmed a new ownership structure under which advisers can continue to buy shares in Nucleus on a transactional basis.

Advisers shareholdings under the previous structure, where their stake was determined by assets placed on the platform, were frozen on 30 December after the regulator said this was in breach of adviser charging rules.

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