Nucleus Financial Platforms has received approval from the Financial Conduct Authority (FCA) for its acquisition of Third Financial.

The adviser platform group, which has £89bn of assets under administration (AUA) from 235,000 customers, announced the deal in February.

Nucleus stated that the acquisition can enable the group to expand its ‘adviser-as-a-platform’ proposition, offering a complete range of platform, product and software solutions for advisory businesses and consolidators, as well as discretionary fund managers (DFMs).

For Third Financial, the investment platform and software provider can benefit from the financial strength, opportunities and capabilities of the wider Nucleus group.

Nucleus CEO, Richard Rowney, said: “We’re pleased to have received regulatory approval and now look forward to welcoming the Third Financial team into our group.

“The acquisition extends and complements our existing enterprise and ‘adviser-as-a-platform’ proposition, enabling us to offer a full spectrum of platform models to advisers, consolidators and DFMs of all types.”

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