Nucleus has completed its £242mn acquisition of Curtis banks.
The cash deal, which takes Nucleus's assets under administration to £80bn, was confirmed in January 2023.
The purchase creates a retirement focused adviser platform for nearly 5,000 advisers helping almost 250,000 customers.
Richard Rowney, CEO of Nucleus, said: “This is an important milestone for our business, creating one of the largest adviser platform groups in the UK with approximately £80bn of assets under administration.
“It helps us to build on our position as a key player in the market, enabling us to continue to invest in the priorities of advisers, and deliver our purpose of helping make retirement more rewarding.”
Peter Docherty, interim CEO of Curtis Banks, assured advisers there would be a smooth transition for them and their clients.
To start with, both businesses will continue to operate separately.
He said: “The completion means we can now harness the opportunities it brings and be able to offer advisers access to a broader suite of platform services, while continuing to offer both our on and off platform services, a larger customer support function and have the ability to invest in the business.”
tara.o'connor@ft.com
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