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Tavistock CEO reveals global ambitions

Tavistock CEO reveals global ambitions

Tavistock Investments is already in talks with advisers in Switzerland, Spain, Gibraltar and South America as part of its bid to expand abroad, boss Brian Raven has said.

The chief executive of Tavistock has said the company will enter a period of organic growth both in the UK and abroad after making a series of acquisitions.

Tavistock is made up four arms; a portfolio management business, an adviser compliance arm, a financial advice network, and a separate financial planning business.

Mr Raven said most of Tavistock’s £769m funds under management came from its own advisers but he predicted this would become a minority as its organic growth sped up.

He said: “If I look five, or 10 years down the road I would expect us to be running more assets from advisers outside the group than from advisers inside the group.

“The overall ambition is to be running substantial sums of money on behalf of private clients.

“We only recently started marketing to firms inside the UK and even more recently outside the country.”

Mr Raven said since Tavistock does not sell directly to the consumer his company would have to work through advisers across the world, which it is now talking to.

He said: “We are talking to private banks and family offices and advice firms.”

There have been reports recently that Tavistock is looking to sell part of its advice business for around £1.5m but Mr Raven declined to comment on this speculation.

Earlier today Tavistock announced that its funds under management had grown by 332 per cent over the year.

The company also increased its revenue by 22 per cent to £36.4m and its losses from operations fell by 67 per cent to £900,000.