Third Financial is a leading investment platform and front-to-back wealth management software provider, serving discretionary wealth managers, multi-family offices, and adviser consolidators.
International legal practice Osborne Clarke is advising Grafton Capital and the management team of Third Financial on the sale to Nucleus.
The Osborne Clarke team was led by M&A Partner Tom Try alongside Senior Associate Alex Littlefield and Associate Jasmine Khag. Financial services and regulatory advice was provided by Associate Director Chris Ratcliffe. Partner David Nisbet provided tax advice alongside Trainee Solicitor Edward Aves.
Third Financial has delivered strong organic growth in recent years, with revenue increasing by more than 30% in 2023. It has over 50 clients in the UK with £6bn of assets under administration on its platform and a further £40bn of assets administered via its software system, Tercero.
The acquisition will enable Nucleus to extend the platform solutions it offers advisory firms of all sizes. As well as the existing leading retail retirement platform and specialist SIPP and SSAS products, Nucleus will benefit from Third Financial’s proprietary technology, enabling an enhanced ‘adviser-as-a-platform’ proposition to meet the needs of larger businesses who want to offer their own platform.
Nucleus is being advised by Fenchurch Advisory Partners and Slaughter and May.
Third Financial is also being advised by GP Bullhound.
Osborne Clarke’s M&A and Private Equity team is considered a go-to practice for many companies in the financial services sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.