Nucleus arrives at 100 member milestone

Nucleus, the IFA-owned and controlled wrap, has announced Murphy Financial as its 100th member firm as the platform passes the £3.5bn assets under administration barrier.

Established in 1977 and based in Glasgow and Ayr, Murphy Financial is a second generation family-run business led by founder Brian Murphy and associate partner and son Adrian Murphy.

As a member firm, Murphy Financial will form part of the Nucleus adviser community which collectively drives the platform and its development.

Adrian Murphy said: “We have been fans of the Nucleus model and proposition for some time and are pleased to now be in a position to sign up as members.

“What particularly impressed us is their ownership culture and approach, essentially allowing its users to influence the direction of the platform. We also felt the wrap’s transparency was in tune with our own approach to trust and that of our clients.”

David Ferguson, chief executive of Nucleus, said: “I couldn’t be more pleased to have arrived at this milestone. When we started the business our model and the seven founding firms were often derided or dismissed.

“The momentum we’re now enjoying suggests that perhaps we weren’t crazy after all and that those advisers seeking to control their client proposition and deliver great outcomes were indeed looking for greater control over the key platform component.”