Tavistock buys adviser network in £2.7m deal

The deal, to be completed following investor approval on 12 February, will create a group of 324 advisers, serving more than 65,000 clients with around £3bn funds under advice, Tavistock said in a note to the stock exchange on 19 January. The firm said it has set aside a total of £2.7m to cover the cost of the acquisition and provide further funding. The firm will initially pay £500,000 in cash, followed by tranches of working capital if required. It will also offer £2,000 for each adviser within Financial who remains within the group from the date of completion of the acquisition ...