Investment platform Third Financial has partnered with wealth manager Mountstone Partners to boost the latter's tech capabilities.

The news follows Third's proposed acquisition by adviser platform Nucleus.

Mountstone, which has £400 million in assets under management, has signed for an initial six-year term. 

Third’s wealth platform is already providing Mountstone with new capabilities and efficiencies following a migration of assets from its previous provider.

Third’s other recent signings and renewals in the discretionary wealth management space include London-based asset manager 1Oak Group, B Corp wealth manager Downing, BRI Wealth Management, Irwin Mitchell Asset Management, and GHC Capital Markets.

Ian Partington, group chief executive of Third Financial, said: “We are delighted that Mountstone has appointed us as their key partner. 

"We understand our customers’ needs and fully appreciate the frustrations of the industry with technology that is often not fit for purpose.

“We are dedicated to the continuous development of our technology, which powers both our Model B offering and those firms who choose to use our software-only service, to ensure we stay firmly ahead of the ever-changing industry requirements.”

James Keen, founder of Mountstone, added: “We were looking for a tech-forward platform, with efficient and proactive personnel who could deliver the best service for our clients. This is what attracted us to Third."

Third’s investment platform is used by more than 70 wealth managers and advisers. 

It provides the core processing, asset servicing and market connectivity for the management of over £50 billion of assets and delivers a digital experience to wealth managers, advisers and their clients.