Lifeboat deal with Tenet hits the rocks

clock

The Tenet Group has just announced it has "reluctantly" called off its plans to buy the troubled Lifeboat Group.

Following discussions with administrators BDO Stoy Hayward, the IFA firm reveals it was unable to agree terms to buy Lifeboat Financial Advisers Ltd and Simply Assured Direct Ltd. Only last Friday (13th August), three of Lifeboat’s divisions – including Simply Assured Ltd – were placed in administration by solvency firm BDO Stoy Hayward. Peter Lane, group commercial director of Tenet Group, explained a precondition of the deal for Tenet had always been Lifeboat members would not lose money as a result of the administration. "The way the deal was stacking up, it looked increasingly ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Tessa Lee: The invisible cost of poor client data

Tessa Lee: The invisible cost of poor client data

How can you improve data quality?

Tessa Lee
clock 23 July 2026 • 4 min read
Dean Proctor: Hopes and fears for the new PM and cabinet

Dean Proctor: Hopes and fears for the new PM and cabinet

Stability, simplicity and the chance to do things differently

Dean Proctor
clock 23 July 2026 • 5 min read
Should spousal maintenance be abolished? A modern perspective

Should spousal maintenance be abolished? A modern perspective

Making the case for abolition and retention

Amy Walpole and Karen Brennan
clock 22 July 2026 • 4 min read