Tavistock Investments profits climb as number of advisers reaches 400

Revenue rose 19% to £20.6m

Ruffer admits to 'disappointing' returns in results

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Tavistock Investments has reported gross profit up 34% to £7.7m for the six months to 30 September.

Adjusted EBITDA jumped to £1.7m from £0.14m, while revenue rose 19% to £20.6m.

Tavistock’s network of advisers and other business introducers has reached 400, with more than 110,000 UK clients spread between them.

The total assets held by these clients now exceed £5.7bn in value, the firm said. Tavistock also has 350 corporate and affinity clients with a total of 16,000 employees.

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The firm has been boosted by receipt of a deferred payment from Titan Wealth, which acquired its investment management business last year.

In the stock exchange announcement, the company also confirmed it has implemented the new Consumer Duty regime.

Shares in Tavistock Investments rose 3% on the news to 4p.  

Chief executive Brian Raven, said: “I am pleased with the company’s strong growth during the first half of this financial year and the successful integration and rebranding of Precise Protect, now Tavistock Protect, which is set to be a major contributor to future profitability of the group.

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“The company’s cash resources have been bolstered recently by receipt of the second of three deferred consideration payments from Titan Wealth.”

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