Financial Planner and wealth manager Tavistock Investments has acquired AI fintech and back office support firm Plus Group for up to £16m, to boost its AI capabilities ahead of rebranding as Vertex.
The deal is for an initial £900,000 cash payment, with an additional £3.6m due over 18 months and up to £11.5m in deferred consideration contingent on performance.
Tavisctok has acquired 87.9% of Plus Group, which provides AI agent technology and Paraplanning services to UK financial advisory firms.
Plus Group's turnover in its last financial year to 30 September 2025 was just under £1m and it posted EBITDA (profit) of around £340,000.
Tavistock said the deal strengthened its AI capability and technology offering and aligns with its strategy to become a technology-enabled financial services group, rebranding as Vertex Group.
In a stock market statement, Tavistock said: “Artificial intelligence is expected to transform financial services over the coming decade and beyond. Tavistock believes the greatest opportunity lies not in replacing advisers, but in equipping them with intelligent tools that ease administrative burdens and improve consistency, thereby allowing them to spend more time delivering value to clients.”
Tavistock revealed it planned to become an 'industry disruptor' after completing its £6m acquisition of Lifetime Financial Management in April in a move it said would help roll out its AI and hybrid advice ambitions, an area Lifetime had been strong in.
Tavistock is planning to rebrand its whole business as Vertex, its fintech brand name, as it seeks to launch a hybrid advice model and target a wider audience.
Brian Raven, chief executive of Tavistock Investments, said: "The acquisition of Plus Group marks another important milestone in Tavistock's long-term strategy to build a modern, technology-enabled financial services business for retail investors.
“As we rebrand into Vertex Group, we are keen to become a dominant force in providing personalised, human-centric financial advice to everyone regardless of wealth. In our view, AI adoption will disrupt financial services but not by eliminating the need for advisers. Rather, it will supercharge productivity and truly open up financial advice to retail investors, beyond the privileged few.”
Tavistock acquired asset manager Alpha Beta Partners in February 2025 as part of a move to refocus its business on providing financial wellbeing to every segment of the UK population “regardless of wealth.”