Nucleus Financial Services has signed up its eighth IFA with Stockton firm WR Financial.
The firm has five RIs and around 2,000 clients.
Nucleus says it will sign three more IFAs in the next few weeks and another six to 10 in the first quarter.
One of WR Financial’s consultants is using Transact but the firm is seeking to transfer the majority of its business to the Nucleus platform.
WR Financial marketing director Paul Shepherd says clients are calling for accurate information which cannot be gained from product providers. He believes wrap offers an exit route for IFAs wanting to sell their businesses. He says: “We need to focus on the people with money and an appreciation of the value of advice.”
Nucleus chief executive David Ferguson says: “IFAs signing up will share in 44 per cent of the business when the time comes. The more assets they put on the platform the more value we can build.”