Quilter to hold stake in rival firm

Quilter’s acquisition of the Leeds based financial planner Lighthouse earlier this year will result in Quilter holding a stake in rival Tavistock Investments, due to a £1m investment Lighthouse made with Tavistock in 2018.
The stake will be more than 5% of the company.
Tavistock announced that it has “terminated the strategic alliance with Lighthouse, announced on 14 November 2018, with immediate effect. This is due to the indefinite postponement of agreed marketing activities as a consequence of Quilter Plc’s takeover of Lighthouse.”
Quilter’s £40m acquisition of Lighthouse will add 400 advisers to Intrinsic, Quilter’s advice arm, bringing its total advice team to 3900.
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