Tavistock chief: Sale of multi-asset business means 'acquisitions at accelerated rate'

Sold for £40m

Tavistock Investments chief executive Brian Raven has told Professional Adviser that its decision to sell off its multi-asset management business has given Tavistock the “fire power to make acquisitions at an accelerated rate”.

On Monday (14 June), Tavistock revealed that Titan Wealth had acquired the firm's multi-asset management business, Tavistock Wealth. The deal is worth up to £40m, with Tavistock entering a ten-year strategic partnership with Titan, for whom it will act as a retail distribution partner. Speaking to Professional Adviser, Raven said that, while some might think this is the end of a journey for the firm, he viewed it as the beginning. "It puts us in a much stronger negotiating position on those acquisitions and the going forward deal with Titan is that we split the incremental revenue,...