Tavistock pre-tax profits hit £1.1m; Acquires IFA Chater Allan

Year ended 31 March 2021

Jenna Brown
clock • 2 min read

Tavistock Investments has reported pre-tax profits of £1.1m for the year ended 31 March 2021 and announced its acquisition of IFA business Chater Allen Financial Services.

The announcement comes a day after it confirmed its £40m deal with Titan Wealth to sell its multi-asset business. The deal also involved a ten-year strategic partnership with Titan with Tavistock acting as its retail distribution partner. Tavistock chief: Sale of multi-asset business means 'acquisitions at accelerated rate' Tavistock's unaudited group accounts said it had EBITDA of approximately £2.77m. This was an increase of 50% over the previous year's £1.85million. It said the uplift was due to increased gross margins of 3% and reducing overheads by 5.7%. Pre-tax profit for the ...

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

PA Working Lunches: Last chance to hear from Schroders

PA Working Lunches: Last chance to hear from Schroders

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 18 June 2024 • 1 min read
Adviser soft skills are 'crucial' and have 'never mattered more'

Adviser soft skills are 'crucial' and have 'never mattered more'

‘Soft skills have always been important but are now crucial’

Isabel Baxter
clock 17 June 2024 • 1 min read
'Our industry could benefit from better representation'

'Our industry could benefit from better representation'

‘There's a revolution underway, but there's more work to do'

Isabel Baxter
clock 17 June 2024 • 2 min read