Tavistock Investments announced the proposed acquisition of IFA business County Life & Pensions and investment manager Blacksquare.
These purchases mark the beginning of an ambitious expansion programme for the recently established AIM quoted group as it plans to assemble a national financial services business.
County Life & Pensions (to be rebranded Tavistock Partners) together with Blacksquare (to be rebranded Tavistock Wealth) will form the basis of an integrated group.
County, which owns the Sterling McCall wealth management network, will be the cornerstone on which Tavistock intends to build a national network of self-employed advisers. Tavistock will provide advisers with an authorised compliance and investment infrastructure as well as a guarantee to buy their business from them as and when they decide to retire.
Blacksquare will manage model portfolios for clients of the advisory business that will provide each investor with a well-balanced combination of investments covering a range of asset classes and global markets that is structured to target a specific level of risk.
Stephen Moseley, a founder of County and intended Business Development Director said: “We are delighted to become a key element in Tavistock’s plan to establish a national network designed by advisors, for advisors, and to deliver cost effective investment solutions to the retail market.”
Brian Raven, Tavistock Chief Executive said: “Both County and Blacksquare share our commitment to strong corporate governance and best practice. Their commitment to our strategic vision is best illustrated by both sets of shareholders accepting only shares rather than cash. We look forward to working together to develop a business that we hope will become an exemplar to the industry.”