Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
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  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Tavistock Investment (TAVI)

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Thursday 10 August, 2017

Tavistock Investment

Disposal of Tavistock Financial Limited

RNS Number : 5750N
Tavistock Investments PLC
10 August 2017
 

 

10 August 2017

 

TAVISTOCK INVESTMENTS PLC

DISPOSAL OF TAVISTOCK FINANCIAL LIMITED

 

 

Tavistock Investments Plc ("Tavistock" or "Company") today announces that it has entered into an agreement for the sale of the whole of the issued share capital of Tavistock Financial Limited ("Tavistock Financial") to Sanlam UK, part of Sanlam Limited.  Completion is subject only to change in control approval being granted by the FCA, which is anticipated in the near future.

 

The transaction will see Sanlam UK acquire Cheltenham-based Tavistock Financial's network of 158 financial advisers along with 25 support staff, for a total cash consideration of £1 million payable in full on completion, which will be used by the Group for working capital purposes.  As a consequence of the transaction, the Group's cash resources will be strengthened and simultaneously its regulatory capital requirement will be reduced. The Board currently anticipates that despite a reduction in the reported level of gross revenues, there will be no material impact on the flow of funds into the Group's centralised investment proposition or on the future profitability of the Group.

 

It is estimated that in the year ended 31 March 2017 the business of Tavistock Financial, as comprised at Completion, would have reported gross revenues of approximately £13.4m with attendant costs of sales of £12m, and contributed EBITDA of some £109k. The regulatory capital requirement of the business on a stand-alone basis would have been in excess of £500k.

 

Commenting on the acquisition, Sanlam UK Chief Executive, Jonathan Polin said:

"We are very pleased to welcome Tavistock Financial's network of high quality advisers to Sanlam. Earlier this year I announced the launch of Sanlam Partners, a way for adviser firms to leverage the benefits of the wider Sanlam Group while retaining control of their business. The initial response from advisers has been hugely positive and today's acquisition allows us to accelerate this concept, putting us in a strong position to bring on-board other adviser firms. This is another significant milestone in our mission to build a client-centric, advice-led and outcome-focussed business and I look forward to working with our new colleagues to making it a success."

 

Brian Raven, Chief Executive of Tavistock Investments Plc, said:

"Our focus is on building closer relationships with our advisory partner firms, rather than on operating a traditional network business such as Tavistock Financial. We are now working with over 100 Registered Individuals and 40 Appointed Representative Firms, all of whose businesses we would be pleased to acquire. Therefore, the Tavistock Financial business no longer fits with our strategy. However, in disposing of that company, it was very important to us that the interests of the staff, the network members and their underlying clients were protected.  Sanlam UK has convinced us that they are the right firm to take the business forward. We wish them and our former colleagues and advisers all the best for the future."

 

 

- ENDS-

 

For further information:

Tavistock Investments plc Tel: 01753 867000

Oliver Cooke, Chairman

Brian Raven, Group Chief Executive

 

Arden Partners Plc Tel: 020 3861 6625

William Vandyk

 

Allenby Capital Limited Tel: 020 3328 5656

Nick Naylor

Nick Athanas

 

Templars Communications Limited Tel: 020 3642 3140

Kitty Parry

Malika Shermatova

 

Notes to editors

 

About Tavistock Investments PLC

Tavistock Investments Plc is an AIM listed investment management business that has successfully established its own distribution through the strategic acquisition of five independent financial advisory businesses. Key group companies are: Tavistock Wealth which manages the Group's Acumen Funds and its Centralised Investment Proposition (CIP), Tavistock Partners which provides compliance, administration and accounting services to Partner Advisers (RIs) and The Tavistock Partnership which provides similar services to Adviser Firms (ARs). Tavistock has over 160 advisers in the Group and in excess of £3 billion in assets under advice.

 

About Tavistock Financial Limited

Tavistock Financial Limited, a network of independent financial advisers, was formed in July 2015, following the acquisition of Standard Financial Group Ltd ("SFG") together with its two trading subsidiaries, Financial Ltd ("FL") and Investments Ltd ("IL"). 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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