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November 15, 2018

Tavistock, Lighthouse to create new investment management venture

UK-based wealth manager Tavistock Investments has entered into a strategic agreement with Lighthouse Group to form a new investment management business.

Under the new initiative, the partners will develop and distribute investment products under Lighthouse’s Luceo brand.

The new venture’s product portfolio will include Tavistock’s capital protection products and may be further extended to include Tavistock’s model portfolio service and other investment solutions.

Currently, Lighthouse Group is said to have nearly £5bn of assets under advice and places around £1bn of new investment and pension fund investments on behalf of clients annually.

Lighthouse CEO Malcolm Streatfield said: “Tavistock has demonstrated its ability to establish an investment management business of scale since its inception in 2014 and I am delighted that we will be working together to develop additional high-quality investment solutions for the benefit of our mutual client bases.

“I believe that this will be the start of a successful working relationship between Lighthouse and Tavistock.”

In October 2016, Lighthouse launched the Luceo Asset Management Range in a bid to offer effective, risk-managed investment solutions to its customers.

The association with Tavistock Investments is a part of its continuous effort to expand its range of investment solutions for the benefit its customers and shareholders.

Tavistock CEO Brian Raven said: “Lighthouse is one of the leading financial advisory businesses in the UK with some 400 advisers. It is the preferred supplier of financial advice to 21 affinity group partners and their aggregate membership of more than six million individuals.”

Furthermore, Lighthouse Group has acquired 5.3% holding in Tavistock by participating in the latter’s £1.25m placing round.

Tavistock raised the additional working capital through share issuance to settle debts.

 

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