James Hay Secures FCA’s Approval to Acquire Nucleus

​James Hay Partnership (James Hay), a specialist platform for retirement wealth planning, announced that it has secured the UK Financial Conduct Authority’ approval to acquire Nucleus Financial (Nucleus), which supports financial advisers in creating brilliant client outcomes.

Reportedly, the acquisition paves the way for James Hay to create a £47bn adviser platform monster. It will offer the firm both online technology and offline service that can compete with any firm in the advised platform market.

The two companies will continue to operate separately for the foreseeable future while the integration plans are formulated.

Richard Rowney, CEO of James Hay, will be in charge of the combined group.

“We see this as a coming together of the very best parts of both businesses, building on our retirement expertise and their digital capability to develop a service that truly meets the needs of advisers and their customers,” Richard Rowney stated.