Investment platform Third Financial announces Mountstone Partners, a discretionary wealth firm with £400 million in assets under management, as the latest in a series of new signings.
Mountstone’s transition to the Third platform reinforces the latter’s commitment to the high-net-worth wealth management market, following the recent announcement of its proposed acquisition by Nucleus, one of the UK’s largest adviser platform groups with over £80 billion of assets under administration.
Mountstone has signed for an initial six-year term, citing Third’s service-oriented culture and functionally rich technology. Third’s wealth platform is already providing Mountstone with new capabilities and efficiencies following a seamless 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 CEO at Third Financial, says: “We are delighted that Mountstone has appointed us as their key partner. Our sustained growth reflects our repeated recognition as the partner of choice for high-calibre wealth managers and advisers seeking stability and security in an otherwise tumultuous platform market. 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 commented, “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. We have been extremely impressed with their responsiveness throughout the implementation project. Their people are personable and focused on delivery. We really look forward to working with them.”
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 full digital experience to wealth managers, advisers and their clients with the reassurance of friendly and expert support when required. Third has a net promoter score of +80, per its recent customer survey.