Tavistock Investments has completed the acquisition of Lifetime Financial Management Intermediaries for an undisclosed amount.

The deal will see Tavistock acquire 76.6 per cent of Lifetime’s shares.

Lifetime CEO Ian Dickinson will remain as the only other shareholder, retaining a significant stake, making the deal both a partial sale as well as a strategic partnership to accelerate Lifetime’s growth.

Dickinson said: “We are delighted to be joining the Tavistock Group to pursue our common purpose to provide everyone with professional and affordable financial advice and low-cost investment solutions.

“Lifetime has been on an incredible journey for the last 23 years and we are excited to embark upon our next chapter in closing the advice gap.”

Tavistock chief executive, Brian Raven, added: “Our conviction is that everyone deserves financial peace of mind regardless of age or wealth.

“We believe this strategic move gives us a proven, hybrid model that breaks down traditional barriers to financial advice and wealth creation. It is the answer for the financial well-being of UK adults today and offers our shareholders an opportunity for significant incremental value.”

The transaction remains subject to approval from the Financial Conduct Authority.

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