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Platform and SIPP provider James Hay is to rebrand as Nucleus following its £145m takeover of the Nucleus platform which will see sweeping executive and company changes.

Six Nucleus directors have stood down from the company today as the takeover of the business by James Hay is completed creating a platform managing £47bn in funds.

Investment firm and wealth manager Rathbone Brothers has acquired James Hay-owned Financial Planner Saunderson House for £150m.

Nearly 92% of shareholders in platform Nucleus have accepted a cash offer from rival platform James Hay which values Nucleus at about £145m.

Westridge SSAS has recruited three new executives a week after the purchase of James Hay’s SSAS book.

Private equity-owned platform James Hay has sold its closed book of SSAS schemes to Westbridge SSAS.

Private equity-owned platform James Hay is to buy rival Nucleus Financial for £145m in an all-cash deal announced today.

Private equity firm Aquiline Capital Partners and fintech Allfunds have pulled out of the bidding race for adviser platform Nucleus.

The owners of UK adviser platforms and SIPP providers Transact and James Hay have tabled cash offers for competitor and SIPP provider Nucleus.

The FCA has today banned indefinitely two directors of an IFA firm for their roles in submitting “false and misleading information” about customers’ high net worth status when making SIPP applications.

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