London-based discretionary wealth manager Bowmore Asset Management has appointed Third Financial, which is now part of the Nucleus Group, as its platform partner.

This is the latest in a series of client signings for Third Financial over the past 12 months, supporting its growth drive.

Bowmore, which has more than £350m in assets under management, has signed up to partner with Third Financial for an initial five-year term.

It transferred its entire book of business in less than six months.

In total, Third Financial has won the custody mandate for 10 new clients over the past year, including Capital Financial Markets, Lowes, and Mountstone.

Third Financial’s technology is now being used by more than 60 firms.

At the end of the third quarter of 2024, Nucleus reported that more than £12.2bn of its £97bn in assets under administration were from enterprise solutions, driven by £1.6bn of net flows in the year to date.

“We’re delighted that Bowmore has appointed us as their platform partner,” said Third Financial managing director, Chris Williams.

“Our continued and sustained growth reflects our position as the first choice for investment managers and advisers seeking industry leading technology-led solutions, and a focus on great customer service.”

Bowmore Asset Management chief investment officer, Jonathan Webster-Smith, added: “We were looking for a tech-forward platform who could help us to deliver the best service for our customers. This is what attracted us to Third and set them apart from other firms in this space.

“The team at Third really understood our needs, and we’ve been extremely impressed with their focus on delivery and commitment to getting it right for the client. We really look forward to working with them for years to come.”

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