The Latest Headlines From Across The Wealth & Asset Management Sector - January

2022-02-09 |  Leo Chancellor

This month, we take a look at the biggest stories shaking up the Wealth & Asset Management sectors. There’s certainly been no let-up as we enter the new year - here are the top stories…

The headlines

David Ferguson (formerly CEO of Nucleus) has been appointed CEO of Seccl and, subject to FCA approval, will take the reins in April. There’s been much talk in the press about what David’s plans might be for the firm, and we look forward to seeing the impact he has on the future development of the firm which has been trying to break the mould of the more traditional platform providers.

Praemium is the latest UK platform business to change hands. It’s being sold to Morningstar, in what could prove to be a transformational acquisition, and a big change of direction from the recent trend of firms being acquired by either PE firms or direct competitors (often backed by PE themselves).

James Hay’s PE owners are allegedly scouting the market for a new investor. This suggests that there will be a significant investment required to integrate the Nucleus platform into the business. You can’t help but feel that the realities of re-platforming and migrations are starting to register with the new owners of UK platform businesses. Anyone who’s been in the industry for a while knows the costs and complexity of these initiatives can’t be underestimated.

In case you missed it…

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