Private equity firm Tavistock has agreed to purchase a 76.59% stake in UK-based financial advisory company Lifetime.
The deal is valued at around £5.95m, according to FT Adviser.
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Lifetime CEO Ian Dickinson will retain the remaining stake in the business.
Lifetime is known for its “hybrid model” of services that includes financial advice, mortgages, investments, pensions, estate planning, savings, and protection.
The firm also offers financial wellbeing solutions, featuring tools such as the Lifetime Hub and app, alongside educational workshops, webinars, and personalised coaching.
Lifetime integrates technology and artificial intelligence to enhance its services; while ensuring the involvement of qualified professionals, the company press release said.
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By GlobalDataThe completion of this deal is contingent upon approval from the Financial Conduct Authority (FCA).
Dickinson said: “We are delighted to be joining the Tavistock Group to pursue our common purpose to provide everyone with professional and affordable financial advice and low-cost investment solutions. Lifetime has been on an incredible journey for the last 23 years and we are excited to embark upon our next chapter in closing the advice gap.”
Lifetime COO Andy Wealthall stated: “Tavistock share our values and vision, and bring the scale, resources, and national presence to help us achieve our mission faster, which is to close the advice gap and make financial wellbeing accessible to all.”
“Our clients and employer partners will continue to receive the same excellent service from the same people they know and trust. The difference is that we’ll now have more resources, connections, and investment to expand and enhance our offering.”
In November 2024, Tavistock purchased Alpha Beta Partners, an asset management firm based in London and Bath.
Alpha Beta Partners, established in 2017 by Geoff Brooks and Andrew Thompson, delivers outsourced investment solutions to advisory businesses and networks.
The deal with Alpha Beta Partners was finalised in February, aligning with Tavistock’s strategy to enhance its investment solutions for clients, including third-party advice firms and retail customers.
