1st October 2024
Saltus has announced the acquisition of Tavistock Partners Limited and Tavistock Partners (UK) Limited in a significant deal valued at up to £37.75m. This acquisition enhances Saltus’ advisory business, increasing its total assets under management to over £7bn. The transaction adds £2.4bn in assets under advice and more than 140 advisers, raising Saltus’ team to over 300 employees.
Notable brands, such as Abacus Associates Financial Services and Duchy, will continue to operate as independent units under the Saltus umbrella. Mal Harper, Abacus' Managing Director, will retain his position and report directly to Jon Macintosh, Saltus’s Managing Partner. Macintosh expressed enthusiasm about the acquisition, stating, “This partnership strengthens our business and brings further opportunities for growth.” He emphasised how Saltus’ platform and client-focused technology will enhance their service offerings.
Brian Raven, CEO of Tavistock, shared this sentiment, asserting that Saltus is the best fit for Mal and his team. He wished them success as they transitioned into Saltus, aligning with the firm’s expansion strategy in the financial advisory sector while supporting entrepreneurial advisers.
Saltus’s acquisition of Tavistock’s advisory businesses underscores a significant trend of consolidation that is reshaping the wealth management and financial advice landscape. By leveraging industry-leading technology and resources, Saltus aims to enhance services for clients and partners while integrating new businesses into a scalable, client-focused platform. This strategic growth approach highlights the increasing demand for firms to align scale with innovation, addressing evolving client expectations, regulatory challenges, and the need for comprehensive, technology-driven solutions. Pending regulatory approval, this collaboration is set to deliver long-term benefits for advisers and clients alike.
At Chapters Capital, we specialise in financial planning and wealth management M&A. Whether you are considering a sale, merger, or expansion, contact one of our professional associates today for a confidential, no-obligation consultation.