Nucleus to sell its discretionary fund manager

Nucleus has revealed that it is in talks with potential buyers for the sale of its discretionary fund manager business, Nucleus IMX.

A Nucleus representative stated that it is currently “in dialogue” with two undisclosed potential buyers, although no decisions in an official capacity have been made yet.

The decision to sell the DFM business comes a month after Nucleus was purchased by PE firm HPS Investment Partners

“We’ve decided IMX is better placed in a partnership model, where a third party takes on the running of the proposition, but that it’s still available through Nucleus Wrap,” the spokesperson said.

“Such a partnership would allow IMX to receive the ongoing commitment and focus it deserves, retaining it as a valuable option for advisers alongside our other solutions, while enabling us to concentrate on our priorities of investing in our platform, service and price.”

IMX was launched in January last year, mere months before Nucleus was acquired by James Hay.

“As you would expect, since Nucleus and James Hay came together we’ve been working to ensure we’re spending our energy and resources on the right proposition for the advisers we serve,” the Nucleus spokesperson said.

“As part of a strategic review, we’ve been exploring where IMX, our in-house DFM, fits. Fundamentally, we believe our proposition should be completely independent of investment solution, where we offer a range of models for advisers so they can offer the best value outcomes for their clients and deliver their long-term goals.”

If you are looking to sell your business, find out more about the selling process and how Gunner & Co. can help you. Book a meeting with our Senior Broker Josh here.