Third Financial, now part of the Nucleus group, has revealed that investment manager Bowmore is the latest in a series of client signings over the last 12 months that’s helping to drive its growth.
London-based Bowmore Asset Management, a discretionary wealth manager with over £350 million in assets under management, has signed up to partner with Third for an initial five-year term. It transferred its entire book of business in under six months.
In total, Third has won the custody mandate for 10 new clients in the past year, including Capital Financial Markets, Lowes and Mountstone. Third’s technology is now used by more than 60 firms.
At the end of Q3, Nucleus reports that over £12.2bn of its £97bn assets under administration (AUA) were from enterprise solutions*, driven by £1.6bn of net flows year to date.
Chris Williams (pictured), managing director of Third Financial, a Nucleus group company said: “We’re delighted that Bowmore has appointed us as their platform partner. Our continued and sustained growth reflects our position as the first choice for investment managers and advisers seeking industry leading technology-led solutions, and a focus on great customer service.”
Jonathan Webster-Smith, chief investment officer of Bowmore Asset Management added: “We were looking for a tech-forward platform who could help us to deliver the best service for our customers. This is what attracted us to Third and set them apart from other firms in this space.
“The team at Third really understood our needs, and we’ve been extremely impressed with their focus on delivery and commitment to getting it right for the client. We really look forward to working with them for years to come.”
