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

Advisers: Are you even taking your own advice?

Advisers: Are you even taking your own advice?

Exploring the expenditure consolidation conversation

Nick Ryan
clock 25 March 2026 • 4 min read
CISI welcomes 76 Certified financial planners

CISI welcomes 76 Certified financial planners

Number of UK CFP professionals continues to rise

Sophia Panayi
clock 24 March 2026 • 1 min read
'Nobody is big enough not to be bought'

'Nobody is big enough not to be bought'

Roderic Rennison on the future of deals in the advice industry

Isabel Baxter
clock 20 March 2026 • 1 min read