Managers at Tenet Compliance Providers (TCS) have purchased the corporate after the guardian enterprise, Tenet Group, went into administration.
Tenet Compliance Providers (TCS) might be rebranded as TFAS Compliance Providers after being purchased in a Administration Purchase Out with assist from TFAS Enterprises, a long run shopper.
TFAS employs 50 workers and is an impartial operation.
Tenet Group Restricted went into administration earlier this month though elements of the group, which was just lately topic to a number of promote offs, continued to function. Directors Interpath made 95 group workers redundant out of a complete of 147.
TCS didn’t go into administration and continued to function.
TCS might be merged into TFAS Wealth which supplies regulated monetary companies akin to retirement planning, ISAs and earnings safety.
TFAS Wealth has labored with TCS for a while so each are acquainted with one another’s operation, TCS mentioned.
TCS mentioned the transaction would offer continuity to TCS’ present purchasers.
As a part of the deal Karina Bowden, a former Tenet director, will grow to be CEO of TFAS Compliance Providers. She was beforehand at Fairstone, Rathbones. Marjolaine Quirke from TCS additionally joins the enterprise.
Jeff Lange, group CEO of TFAS Enterprises, mentioned: “As a present shopper of Tenet Compliance Providers, TFAS Wealth has skilled firsthand the distinctive high quality and dedication of their workforce.
“This acquisition aligns completely with our technique to supply essential companies to monetary advisers and their prospects. We’re excited to see the continued success and development of TCS underneath the dynamic management of TFAS Enterprises.”
