One of the founders of rapidly growing Financial Planning firm Independent Wealth Planners (IWP) is behind the takeover today of Financial Planning and investment group Tavistock for £40m.

Plans for a new executive pay scheme at Financial Planning firm and takeover target Tavistock have fallen through after shareholders failed to support the move.

Financial Planner and wealth manager Tavistock has criticised an unexpected and unwelcome takeover offer from a new company as undervaluing the business and providing little benefit.

Financial Planning and wealth management firm Tavistock has rebuffed an acquisition attempt by Jersey-based fund manager TEAM plc.