Press release
Tavistock Pledges Positive Annual Returns
A turnaround in profit has been promised by Adviser network Tavistock when it announces its annual results, overturning a £1.65m loss following its buyout of struggling competitor Financial Ltd.London, England, July 02, 2016 -- In an update released today, the company said “each of the organizations active businesses is now making sustained positive returns”.
The report refers to Tavistock Partners and Tavistock Financial, which supply several financial services to the network’s autonomous finance professionals. The group also includes Tavistock Wealth, which handles its funds.
Tavistock had a disappointing two year run announcing a £1.5m loss for half of 2015, falling further into debt following a £173,000 annual loss the previous year.
Richard Sharpe, Co-Head of Global Mergers & Acquisitions at Acom Tokyo Securities commented that recent Tavistock announcements represent a positive move for the group. “I think there is a certain amount of pressure on the company to deliver now, but that is not always a bad thing. Shareholders will feel a little safer on the back of the trade update as the firm have set out a clear goal for the coming year.”
Tavistock blamed the slump on one-time ‘restructuring’ payments incurred from its £2.8m takeover of Standard Financial last year, a company whose subsidiary, Financial Ltd, is currently being wound up. FTAdviser, the business news and analysis site, last month announced Tavistock is chasing former Financial Ltd compliance team members for millions of pounds in damages linked to ‘bad advice’.
Earlier last month, Tavistock CEO Brian Raven said how his company mediated an agreement with the Financial Conduct Authority to save the faltering advice network without taking on its debt. A previous business report on pension switching advice issues at Financial Ltd was released by the FCA four years earlier.
Also in the trading update, Tavistock said it now serves as a fully integrated, nationwide company providing many financial services, with over three hundred advisers and more than 60,000 clients around country.
The estimated value of assets under the firms influence is thought to be £4.5bn and assets under their direct management are over £435m. The update also said that approximately 70% of the organizations revenue is from repeat income.
Mr Raven added, “We’ve made excellent progress in the period since concluding our primary transactions, and we have our superb management and staff to thank for that.”
Contact:
Haruki Kasumi
Acom Tokyo Securities Ltd
Tokyo, Japan
+81-327637492
mkt@acomalliance.com
http://www.acomalliance.com
Richard Sharpe, Co-Head of Global Mergers & Acquisitions at Acom Tokyo Securities commented that recent Tavistock announcements represent a positive move for the group.
Haruki Kasumi
Acom Tokyo Securities Ltd
Tokyo, Japan
+81-327637492
mkt@acomalliance.com
http://www.acomalliance.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Tavistock Pledges Positive Annual Returns here
News-ID: 346924 • Views: …
More Releases from Acom Tokyo Securities Ltd
More Good News for Japan's Economy
130 years ago, a bunch of jobless Samurai came together to create “Onoda Cement”, one of the oldest and biggest cement manufacturing companies of Japan. The Samurai had put their entire pension into creating this company.
London, England, July 04, 2016 -- Since its inception, Onoda Cement has witnessed its share of ups and downs. The company stood strong as Japan dabbled with industrialisation, a destructive war, and a post-war booming…
More Releases for Tavistock
Introducing Impact Threads: Free T-Shirt Printing for Nonprofits
Introducing Impact Threads: Free T-Shirt Printing for Nonprofits
[Dartmoor, UK] - dewerstone, the ethical clothing brand and certified B Corporation, is proud to announce the launch of Impact Threads, a new initiative that provides free t-shirt printing for nonprofit organisations. As a committed member of 1% for the Planet, dewerstone is taking its support for environmental and social causes one step further by helping nonprofits develop and produce high-quality merchandise-at no…
MooveTrax Provides Fast Real-Time Tracking for Car Rental Companies
MooveTrax, a cutting-edge provider of GPS tracking technology, is revolutionizing the way car rental companies and carshare services manage their fleets with real-time tracking solutions.
MooveTrax, a cutting-edge provider of GPS tracking technology, is revolutionizing the way car rental companies and carshare services manage their fleets with real-time tracking solutions. Specifically designed by a rental car owner, the MooveTrax all-in-one device delivers unparalleled tracking features, ensuring vehicle safety, theft prevention, and…
MooveTrax Features Contactless and Keyless Rental Car Convenience
MooveTrax has innovated anti-theft protection for rental car companies and rideshares.
The majority of anti-theft devices for cars and trucks are designed for individual consumer vehicles. MooveTrax [https://moovetrax.com/] has innovated anti-theft protection for rental car companies and rideshares.
The device is a single solution for multiple needs that's hardwired into a vehicle. Designed by a rental car company, it provides contactless rental car [https://moovetrax.com/], automation, safety and protection against theft. It enables…
MooveTrax Protects Rental and Rideshare Vehicles from Theft and More
MooveTrax provides fast real-time tracking of your cars with the most advanced features for car rental companies and those who use carshare services like Turo, HyreCar, and Getaround.
Individuals typically don't think about their rental car being stolen, but the owners of those vehicle are well aware of the possibility. Statistics show that the rate of thefts for rental vehicles has increased by 25 percent since 2019. The MooveTrax device is…
US$50 Million Luis Melendez Masterpiece Embarks on Global Tour with the Global F …
In a groundbreaking partnership that celebrates the intersection of artistic heritage and community enrichment, the owner of an exquisite 18th-century painting attributed to Spanish painter Luis Melendez has teamed up with the Global Family Support Foundation [http://www.globalfamilysupport.com]. This collaboration not only highlights a significant artistic discovery but also promotes inclusivity and diversity in the arts through the Autistic Creative Mind Program.
Image: https://www.abnewswire.com/uploads/db72e2ab5f63b7d5a5bc4b604487e526.jpg
Discovered beneath a still life, an X-ray revealed a…
Burritos Market to Get a New Boost | Del Taco, Amy's Kitchen, Ruiz Foods
The Latest Released Burritos market study has evaluated the future growth potential of Global Burritos market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, emerging trends along with essential drivers, challenges, opportunities…