Tavistock agrees King Financial sale and Atomos exclusivity deal
Tavistock has agreed to sell the business and assets of King Financial Planning (KFP) for £3m ($4m) in cash and has granted Atomos Group exclusive rights to pursue the acquisition of Tavistock Group Holdings.
Tavistock Group Holdings Limited is the immediate parent of Tavistock Private Client (TPC).
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Both TPC and KFP provide wealth management services to higher net worth individuals, an area Tavistock said falls outside its revised strategic focus.
The exclusivity agreement is with EPF V UK Wealth Bidco Jersey, the Jersey-based holding company of the Atomos group.
Atomos may exchange contracts for Tavistock Group Holdings Limited by 14 November 2026, or a later date agreed by the parties.
It has completed its due diligence process and confirmed it is satisfied with the outcome.
Any sale of Tavistock Group Holdings still requires definitive transaction documents and Financial Conduct Authority (FCA) change of control approval for TPC, and completion is not assured.
“The failure of the financial services industry to support more than the privileged few is not because there are too few financial advisers, but because the way the industry operates, advice costs too much to deliver,” the company said in a statement.
Tavistock said it will finance its refocus through disposals and by bringing businesses into the group.
These include asset manager Alpha Beta Partners (ABP), and fintech firms Lifetime Financial Management and Plus Group.
Lifetime Financial Management and Plus Group already work together to provide integrated human-centric advice and support, using AI to reduce costs and increase productivity.
