Tavistock Investments has acquired a 76.59% stake in financial management and wellbeing firm Lifetime, in a deal aimed at widening access to affordable financial advice.
Lifetime chief executive Ian Dickinson remains the only other shareholder, retaining a significant stake.
The acquisition, subject to FCA approval, is described as both a partial sale and a strategic partnership intended to accelerate the firm’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 wellbeing of UK adults today and offers our shareholders an opportunity for significant incremental value.”
Lifetime’s digital-first platform makes extensive use of technology and AI, but always with human oversight.
Chief operating officer Andy Wealthall said the partnership with Tavistock would provide the scale and resources to accelerate Lifetime’s mission.
“Our clients and employer partners will continue to receive the same excellent service from the same people they know and trust,” he said.
“The difference is that we’ll now have more resources, connections and investment to expand and enhance our offering.”