Financial Planning group Tavistock is to acquire the ‘bionic’ personal financial app business LEBC Hummingbird from retirement adviser LEBC Group for £3m.

Financial Planning and investment group Tavistock Investments has acquired a 21% stake in retirement-focused financial adviser LEBC from the founder's widow for £10m.

LEBC’s well known public policy director Kay Ingram is leaving the company after 18 years to pursue a new career as a personal finance writer, commentator and broadcaster.

LEBC, the retirement advisory firm whose CEO died suddenly last year, has reported a loss of £232,000 in its latest financial figures.