Tavistock buys adviser network in £2.7m deal

Carmen Reichman
clock

Listed financial services group Tavistock Investments has agreed to buy Standard Financial Group, the parent company of adviser network Financial Ltd, in a bid to grow the size and reach of its advisory business.

The deal, to be completed following investor approval on 12 February, will create a group of 324 advisers, serving more than 65,000 clients with around £3bn funds under advice, Tavistock said in a note to the stock exchange on 19 January. The firm said it has set aside a total of £2.7m to cover the cost of the acquisition and provide further funding. The firm will initially pay £500,000 in cash, followed by tranches of working capital if required. It will also offer £2,000 for each adviser within Financial who remains within the group from the date of completion of the acquisition ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: MKC Invest 'do things differently' with GAIN partnership

Feel Good Friday: MKC Invest 'do things differently' with GAIN partnership

The DFM partnered with GAIN last year

Professional Adviser
clock 21 February 2025 • 1 min read
How financial firms' ESG backlash could soon backfire

How financial firms' ESG backlash could soon backfire

Shareholder support for climate resolutions at major firms hit a new low last year, despite evidence showing corporate decarbonisation efforts are helping to deliver attractive returns

Michael Holder
clock 20 February 2025 • 12 min read
Farmers' groups clash with Treasury over inheritance tax reform

Farmers' groups clash with Treasury over inheritance tax reform

Industry leaders express frustration as Treasury officials reject proposals

Sahar Nazir
clock 19 February 2025 • 2 min read