Financial powerhouse Tavistock set to acquire a considerable 76.59% ownership in financial advisory company Lifetime
In a significant move, private equity firm Tavistock has agreed to purchase a 76.59% stake in UK-based financial advisory company Lifetime. The deal, valued at around £5.95m, is set to close pending approval from the Financial Conduct Authority (FCA).
Founded in 2017, Lifetime offers a hybrid model of services that includes financial advice, mortgages, investments, pensions, estate planning, savings, and protection. The company also provides financial wellbeing solutions, featuring tools such as the Lifetime Hub and app, alongside educational workshops, webinars, and personalised coaching.
Ian Dickinson, Lifetime's CEO, expressed his excitement about the deal, stating that it presents an opportunity to close the advice gap. His enthusiasm was shared by Lifetime COO Andy Wealthall, who noted that Tavistock shares their values and vision. Notably, Dickinson will retain the remaining stake in the business.
The acquisition of Lifetime aligns with Tavistock's strategy to enhance its investment solutions for clients, including third-party advice firms and retail customers. This strategy was previously demonstrated with Tavistock's purchase of Alpha Beta Partners, an asset management firm based in London and Bath, in November 2024.
Alpha Beta Partners delivers outsourced investment solutions to advisory businesses and networks. The firm, established by Geoff Brooks and Andrew Thompson, has been instrumental in providing investment solutions to various advisory businesses and networks across the UK.
It's important to note that the acquisition of Lifetime does not affect the service clients and employer partners receive from the same people they know and trust. Lifetime integrates technology and artificial intelligence into its services, ensuring that it remains at the forefront of the financial advisory industry.
At the time of this article's publication, specific information about the size of the financial advisory market in the UK at the time of Lifetime's acquisition by Tavistock was not available. However, this acquisition underscores Tavistock's commitment to expanding its presence and influence in the UK financial advisory sector.
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