Business
Repositioning of Retail Asset Management business
Repositioning of Retail Asset Management business.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n\n2 December 2024\nTavistock Investments Plc\n \n(\"Tavistock\" or the \"Company\")\n \nRepositioning of Tavistock's Retail Investor Asset Management business\n \n \nTavistock (AIM: TAVI) is pleased to confirm that it has now received, in full, the £22.0 million of initial cash consideration for the disposal of its network of self-employed registered individuals to wealth management firm The Saltus Partnership Holdings LLP, subsequent to the announcement of the transaction in early October 2024. This follows the successful completion of the Company's planned reduction of its network of third party appointed representative firms and enhances the Company's working and development capital, creating a favourable springboard for growth.\n \nThe disposal also marks the beginning of a new strategic phase in the Company's development, in which the provision of asset management services to regulated third party advice firms and directly to the public will play a much greater part. The recently announced conditional acquisition of Alpha Beta Partners (\"ABP\") is a key strategic step in the Company's refocused proposition.\n \nABP provides a range of outsourced investment propositions to directly regulated advice businesses and appointed representative networks. ABP is noted for its \"Dynamic Asset Allocation\" process and modular proposition, providing retail and wholesale investors with institutional techniques rarely found in this market segment. The success of its outcome-oriented investment solutions has been recognised by Defaqto's 5 Star and 5 Diamond Ratings for the past 5 years.\n \nThe receipt of the initial consideration from the disposal to Saltus, together with the Company's access to a substantial acquisition debt funding facility from the Bank of Ireland, means that the Company is particularly well placed to move quickly to expand its operations and profitability. Tavistock is focused on meeting the specific needs of private investors, with a corporate strategy that delivers enhanced returns for reduced levels of risk exposure and is differentiated by its commitment to excellence and revolutionary thinking.\n \nWithin the Tavistock group, Tavistock Private Client has been recognised many times for excellent advice services to higher net worth individuals, winning multiple industry a...