Wrap platform Nucleus will acquire the UK business and assets of Genpact Wealth Management UK Limited, which operates under the trading name OpenWealth.

As part of the agreement, Nucleus will pay £1.5 million, funded from the company's existing cash resources.

The deal is expected to complete by the end of the year, following customary regulatory engagement and subject to the transition of transferring employees. The OpenWealth staff that provide services to Nucleus will transfer to the firm, taking the combined Nucleus team to approximately 380 people.

Based in Glasgow, OpenWealth has provided business proce...