LONDON, UK: Tavistock Investments has completed the sale of Tavistock Wealth Limited (TWL) to Titan Wealth Holdings Limited.
Company announced on 14 June 2021 that it had entered a 10-year strategic partnership with Titan Wealth. As a part of these arrangements Titan Wealth has acquired TWL for a consideration of up to £40 million in cash, together with a ten-year earn out.
Tavistock Investments shareholders gave their approval for the transaction on 23 July 2021. The Financial Conduct Authority granted change in control approval on 9 August 2021.
James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth, said: “We are very pleased to have completed the acquisition of Tavistock Wealth. We value the strong relationship we have built with Tavistock and look forward to working closely with them.
Tavistock Wealth will be renamed Titan Asset Management. John Leiper will continue in his role as Chief Investment Officer, overseeing a well-established team who have an excellent investment track record, and who will play a key part in the roll-out of Titan Wealth’s central investment proposition that is being launched for both large and smaller IFA groups.”
Brian Raven, Tavistock’s Chief Executive, said: “We are pleased to have completed this transaction which endorses our corporate strategy. Our partnership with Titan Wealth will enable us to accelerate our growth plans and deliver maximum value to our shareholders. We also look forward to continuing to work closely with the highly successful investment team at TWL.”
Tavistock Investments Plc is an AIM listed financial services group that has 180 advisers across the UK helping 30,000+ clients look after more than £4 billon of investments. The Company was established in 2013.
Tavistock’s advisory business operates throughout the UK. The Tavistock Partners network supports 140 Registered Individuals (IFAs), providing compliance, administration, technology, training and accounting services. The Tavistock Partnership is a network that does the same for 20 Appointed Representative firms. Tavistock Private Client provides wealth management and financial planning to high-net-worth individuals.
The Tavistock Platform, launched in 2020, provides a low-cost platform service to the Group’s advisory and investment clients.
Titan Wealth Holdings (Titan Wealth) is a discretionary fund management/wealth and asset management business. Targeting £20-30 billion in assets under management over the next 3 to 5 years, Titan Wealth aims to bring high-quality execution and administration to the asset and wealth management sector.
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