Tavistock to rebrand as Vertex Group as it acquires majority stake in Plus Group

Investment advice firm Tavistock has acquired 87.9 per cent of Plus Group, a provider of AI agent technology and paraplanning services to UK financial advice companies, and has begun to rebrand to Vertex Group.

The initial consideration for the acquisition is a £900,000 cash payment, with a further £3.6m payable over the next 18 months.

Further deferred consideration of up to £11.5m could become payable over the next four years, subject to agreed performance criteria.

Tavistock said the acquisition represented a step forward in its strategy to build a tech-enabled financial services group combining advice, investment management, and intelligent automation.

The group has also begun rebranding to Vertex Group, following the recent acquisitions of Alpha Beta Partners and Lifetime Financial Management.

Plus Group has been working with Lifetime Financial Management over the past year to develop AI-enabled solutions to support adviser productivity and operational efficiency.

The firm currently has two AI agents operating within production environments, two further AI agents in beta testing, and 10 additional AI agents under development.

"The acquisition of Plus Group marks another important milestone in Tavistock's long-term strategy to build a modern, technology-enabled financial services business for retail investors,” said Tavistock Investments chief executive, Brian Raven.

“As we rebrand into Vertex Group, we are keen to become a dominant force in providing personalised, human-centric financial advice to everyone regardless of wealth.

“In our view, AI adoption will disrupt financial services but not by eliminating the need for advisers. Rather, it will supercharge productivity and truly open up financial advice to retail investors, beyond the privileged few.

“Plus Group brings outstanding expertise in both paraplanning and AI technology, and we are delighted to welcome the team into the group."

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