Third Financial Secures Strategic Custody Partnership with Lulworth Investment Partners

Quick Summary

Third Financial has been appointed as the strategic platform and custody partner for Lulworth Investment Partners. Utilizing its Model B proposition, Third Financial will provide the essential wealthtech infrastructure required to support Lulworth’s high-net-worth client base, following a rapid three-month implementation and authorisation process.

How Does Third Financial Support Discretionary Managers?

Third Financial provides a technology-led foundation that allows discretionary investment managers (DIMs) to maintain greater operational control over their client propositions. By leveraging the Model B service, firms like Lulworth can outsource complex custody and settlement functions while retaining the flexibility to build bespoke portfolio structures. This partnership highlights how Third Financial enables firms to:

• Execute a rapid market entry, evidenced by Lulworth’s three-month implementation timeline.
• Access specialist operational support backed by the scale of the Nucleus Group.
• Focus on client investment outcomes rather than back-office administrative burdens.

"With Third we have a partner that can provide both the infrastructure and flexibility needed to support a growing discretionary business while allowing us to remain focused on delivering good investment outcomes and client service." said Harry Sevier, Head of Investment at Lulworth Investment Partners.

What Makes the Lulworth Investment Partners Proposition Unique?

Lulworth Investment Partners, founded by former Ruffer LLP Partner Harry Sevier, aims to disrupt the traditional wealth management model with a modern discretionary firm unconstrained by legacy systems. A key differentiator is their innovative fee structure, which reduces costs for the client if the firm fails to meet specific investment mandate objectives. To support this high-touch service, Lulworth required a strategic platform partner capable of handling complex, personalised portfolio constructions for high-net-worth individuals. The selection of Third Financial ensures that Lulworth has the scalable technology stack necessary to grow without compromising on its founder-led service ethos.

Why is the Nucleus Group Expansion Significant?

As part of the broader Nucleus Group, Third Financial benefits from the stability of a group administering £117bn in assets for over 251,000 customers. This scale provides Third Financial with the resources to innovate within the wealthtech software sector, offering solutions that cater to over 5,000 financial advisory firms. The partnership with Lulworth validates the Model B proposition as a premier choice for high-growth, specialist investment firms seeking a long-term strategic partner. By combining operational expertise with robust technology, the group is positioning itself as a dominant force in the UK’s independent investment platform market.

FF NEWS TAKE:

This partnership between Third Financial and Lulworth Investment Partners definitely moves the needle by proving that wealthtech implementation doesn't have to be a multi-year slog. A three-month turnaround from agreement to onboarding is a significant benchmark for the industry. As more discretionary managers look to escape legacy infrastructure, Third Financial’s ability to offer Model B flexibility under the powerhouse umbrella of Nucleus makes them a formidable competitor in the bespoke custody space.