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

The banks are back: What does this mean for advisers?

The banks are back: What does this mean for advisers?

Banks ‘uniquely positioned’ to provide advice to mass market

Sophia Panayi
clock 24 August 2026 • 6 min read
Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read