City Asset Management has chosen wealth platform and software provider Third Financial, part of the Nucleus Group, as its new platform partner.

The London-based firm is an independent financial planning and discretionary investment management firm.

Under the terms of an initial five-year partnership, City Asset Management will transfer more than £800m in assets under management to Third Financial.

Commenting on the announcement, Third Financial commercial director, Ricky Ali, said: “It’s a vote of confidence in our team that City Asset Management has committed to working with us for the next five years.

“We’ve fast become the preferred partner for businesses who need industry leading, technology-driven solutions backed by exceptional client service.

“Having the financial might and breadth of capability of the Nucleus group behind us makes a real difference to our conversations with ambitious, investment managers like City Asset Management, looking for a stable, committed, long-term partner.”

City Asset Management CEO, Nick Coghill, said the investment manager had been looking for a proven technology-led partner who could help the firm deliver the highest standard of service to its clients.

“With their deep knowledge and experience of the wealth management industry, the team at Third Financial gave us full confidence – not only in their ability to provide a market-leading technology solution, but also in their unwavering commitment to client service and innovation,” he added.

“We’re pleased to be working with them as our sole platform provider.”

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