LONDON: Tavistock Investments has announced a strategic refocus of its business to target the “neglected 91%” of UK adults lacking access to full financial advice, following its acquisition of Lifetime Financial Management Intermediaries Limited.
The move comes amid mounting regulatory pressures and rising operational costs that have made it commercially unsustainable for advisory firms to serve lower-value clients. Tavistock’s board said the retail financial advice system is “broken” and must evolve to meet the needs of underserved consumers.
The acquisition of 76.59% of Lifetime’s ordinary shares, with founder Ian Dickinson retaining a 23.41% stake under a put and call option arrangement, marks a pivotal step in Tavistock’s transformation. The deal includes an initial £3.7 million cash consideration and £2.25 million for debt reduction and leadership incentives. Additional payments over four years could bring the total consideration to £9.9 million, subject to Lifetime’s EBITDA performance and FCA approval.
Lifetime’s hybrid advisory model combines digital-first tools and AI with qualified human advisors, removing income and wealth barriers for clients. Despite posting a pre-tax loss of £81,000 in the year ended March 2025, the firm’s scalable model is seen as a cornerstone of Tavistock’s new direction.
The acquisition follows Tavistock’s earlier purchase of Alpha Beta Partners in February 2025 and builds on disposals of its UCITS funds and IFA network, which raised over £67.5 million.
Tavistock will integrate Lifetime’s model into its Vertex fintech platform, offering services such as automated risk management, retirement drawdown tools, and direct-to-consumer financial wellness solutions. The group also gains access to over 700,000 potential clients via its Employee Benefits business.
Chief Executive Brian Raven said the strategy aims to deliver “financial peace of mind regardless of age or wealth,” while Lifetime’s Dickinson called the partnership “a new chapter in closing the advice gap.”
The board expects the refocus to enhance shareholder value and anticipates further strategic partnerships ahead of a full rebrand aligned with its Vertex solutions.