The vast majority of flows into vertically integrated firm Tavistock’s discretionary funds are from its own advisers, according to chief executive Brian Raven.
Speaking to Money Marketing after the release of its half year results today, Raven says the structure of the business means its own advisers are currently responsible for 90 per cent of inflows.
He says the recent launch of Tavistock Law – its business arm that acts as a preferred provider of investment advice to The Law Society – will lessen the percentage over time.
He says: “Sitting around 90 per cent means means it’s higher at the moment, but we have only relatively recently started our deal with the Law Society.”
Currently, around 27 per cent of Tavistock’s advised client assets are in in-house investments.
The group increased gross revenues from advice by 7 per cent from £10.8m to £11.6m in the last six months.
This follows the sale of Tavistock Financial to Sanlam and leaves around 200 advisers in the business.
Raven says the group has no plans to acquire other firms and will look to form partnerships similar to Tavistock Law to grow organically.
He says: “Our outlook for growth remains positive, particularly given the early success of our new capital protected products and the endorsement by the Law Society.
“We believe that these results pave the way for greater momentum throughout 2019 and we are delighted with the continued organic growth of both our investment management and financial advisory businesses.”