Tavistock Investments has acquired Alpha Beta Partners as it shifts its business away from financial advice towards asset and wealth management, according to a London Stock Exchange announcement published last Friday (21 November).
While Alpha Beta will become part of the Tavistock Group, it said it would remain separate in its operations. The management team, including Geoff Brooks and Andrew Thompson, Mel Kennard and Asim Javed will continue with the company.
Alpha Beta was founded in 2017 and as of the end of September, had net assets of over £1.2m.
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“We would like to recognise the significant contribution to the business made by the founder members; particularly John Reynolds, our current chair and historically Christopher Finch and Shahid Chaudhri who all hand over the business in great shape for the future. We will be taking the opportunity to recognise them on completion,” Alpha Beta stated.
In addition to Alpha Beta’s acquisition, the company will partner with The Adviser Centre, led by CIO Peter Toogood, which will be exiting Lloyd’s Banking Group in the beginning of 2025.
In October, Tavistock sold off two arms of its business, with a plan to use the funds for “working capital purposes”.
