Titan Wealth and Tavistock Investments appear to be heading for a legal battle after their long-term partnership sunk abruptly.
Titan had agreed a 10-year deal with Tavistock in 2021, but on Monday afternoon (8 July) Tavistock announced the termination of their strategic partnership following what it said has been “a sustained period of unacceptable performance by Titan”.
Tavistock added that its board expects the final sums due under the agreement will be received in due course and further updates will be made as appropriate.
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Titan issued its own statement in which it said Tavistock’s claim of unacceptable performance was wrong and strongly denied. It said the partnership was terminated by Titan against a background of serious wrongful conduct by Tavistock.
It also said the matter is now the subject of pre-action correspondence between legal representatives of the firms.
The wealth manager has been a very active player in ongoing industry consolidation. It recently acquired Square Mile, and has bought out a number of other businesses in recent years, including Wigmore Associates and Ravenscroft’s UK-based investment management unit.
Tavistock Investments has a network of advisers across the country and its own wealth management arm.
