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Tavistock partners with financial advisory firm to offer investment management service
14/11/2018 , News Team

Tavistock Investments plc has entered into a strategic agreement with Lighthouse Group plc to establish an investment management service.

This business will develop and distribute investment products and services under the Luceo brand, which is Lighthouse’s proprietary range of investment solutions to clients of Lighthouse through that group's adviser base. 

The investment products will include Tavistock's recently launched capital protection products and may be extended to include other investment solutions available through Tavistock, including its model portfolio service. 

Malcolm Streatfield, Lighthouse's chief executive, commented: "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."       

Tavistock also intends to raise up to £1.25 million of additional working capital, before costs, through the issue of up to 38,109,756 new ordinary shares. The firm hopes that this fundraising will allow it to replace its existing £2 million debt facility with a new £2 million five-year facility from NatWest Bank and a lower interest rate.

Tavistock investments is a UK-based investment firm with funds under management of £941 million as at 30 September 2018.

Lighthouse is a UK financial advisory firm, with around 400 advisors and currently has around £5 billion of assets under advice.

 

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