Tavistock Wealth for sale on the newly launched Titan

Tavistock Wealth was acquired by the newly established Titan Wealth Holdings for up to £ 40m in cash and 10 years of revenue.

The purchase of a voluntary fund manager (DFM), which manages over £ 1 billion, will be in parallel with a 10-year strategic partnership between Tavistock Investments and Titan.

Titan’s launch is also marked by the acquisition of the financial services platform Global Prime Partners (GPP), as it aims to provide investment managers and independent financial advisors with “more integrated and flexible services.” ..

Brian Raven, CEO of Tavistock, said Tavistock Wealth will become part of Titan while the company will continue to work closely with its investment team.

“The partnership with Titan supports our corporate strategy, enables us to accelerate business growth and provide maximum value to our shareholders,” he described as a “great opportunity” for both companies. I will. “

GPP has over £ 2 billion in assets under its control and makes over 500,000 transactions annually on behalf of its clients.

Tavistock has a £ 2m pristine loan as the company has taken an “unwelcome approach”

This transaction helps Titan provide a “complete suite” of execution, payment and storage services.

Both purchases are expected to be completed in the second quarter of 2021, subject to regulatory approval.

These businesses operate under the Titan Holding Group and maintain their existing model and leadership.

Titan said he was discussing getting six more DFMs.

Co-Chief Executives James Kaberry and Andrew Fearon said: “We are delighted to welcome GPP and Tavistock Wealth to Titan, and we are very much looking forward to working with our existing team. The DFM sector is now experiencing the fastest evolution of technology and client demand. Over time, it is in a state of fluidity with considerable confusion and outdated processes.

“In this context, markets have the opportunity to drive sector reform by leveraging new technologies and expanding distribution channels to provide value to intermediaries and institutional investors. With a target of £ 20 to £ 30 billion in assets under management over the next five years, we have the ambition to grow rapidly and see exciting opportunities in the coming months. “

Tavistock creates redundancy when the office is closed

Julian Parker, GPP’s CEO, said: Quality service.

“This important partnership with Titan is our organic while allowing our strategy to remain true to our roots and focus on providing cutting-edge technology and wealth management services to our clients. Accelerate our growth trajectory. We look forward to working with James, Andrew and other Titan teams. “

As part of the Titan-Tavistock partnership, Tavistock will act as Titan’s retail distribution partner. This partnership will allow Tavistock to accelerate the growth of its wealth management business.

Tavistock Wealth for sale on the newly launched Titan

Source link Tavistock Wealth for sale on the newly launched Titan

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