Tavistock receives £22m for advice business sale to Saltus

The firm announced the sale of its advice businesses Tavistock Partners and Tavistock Estate Planning Services to Saltus in October. In an update posted today (2 December), Tavistock confirmed that it has now received, in full, the £22m of initial cash consideration for the disposal. This follows the successful completion of Tavistock's planned reduction of its network of third party appointed representative firms. The firm said this "enhances the company's working and development capital, creating a favourable springboard for growth". "The disposal also marks the beginning of a...