Tavistock Investments Share Discussion Threads

[phillzy1] 05/1/2021 11:24

Could not agree more Raph, for comedy value I looked up the performance of the share price over 1Y, 3Y and 5Y, not looking too good, -33%, -57%, -76% respectively. Which puts Tavistock in the 4th quartile on 1Y and 5Y basis but 3rd (surprisingly!) over 3 years. Maybe the long-term incentive plan is due to the fact the share price performance is not bottom quartile for all the 3 time periods but only 2 of the above. Congratulations over 3Yrs there are worse management teams out there.

[raph_andrew] 03/1/2021 15:00

Watching this closely.

[chrisdgb] 29/12/2020 14:11

Nice to see some buying here, presumably AUM must be going up nicely in these markets........

[chrisdgb] 23/12/2020 10:36

Well, it will be interesting to see what proposals they come back to us with in the new year.......

[tomgold] 22/12/2020 12:22

I'm sorry but your logic does not make sense here. If you have an ISA with Tavistock's funds and are disappointed with the performance you can just exit with no charges...

Are you suggesting that the share price is down here because of poor investment management? Maybe you're dizzy too...

I appreciate I might not have the same level of knowledge that you do when it comes to the performance of their funds however this is completely irrelevant. AUM has gone to about £1.2bn from £0 in 2014. The share price has gone from 7.5p to 1.35p. Perhaps you should think about that.

Vendetta confirmed. Lay off the eggnog...

[makeamillion3] 22/12/2020 11:23

Thanks Tom...
vendetta against Peel? Not a vendetta, just disappointed with lack of performance against the market prior to Covid.
I’m stating facts of my holdings. I appreciate markets have rebounded but I look at the quartile ranking and peel was consistently in quartile four. Check trustnet for info... I left my holding before transferring away to give leiper a chance, and as stated impressed with the recent upturn and looks like either the spade work was done by Peel or the new investment manager Leiper is doing well. Either way, my ISA will remain in the Tavistock portfolio.

I’m also aware the dizzy heights percentage. Hence the word ‘dizzy’...

I just want the share price back and some of my losses recouped. Like most. The FUM needs to grow for the business to be profitable. Obvious for all to see.

As I stated twice, let’s hope that a way forward to suit all is found.

[tomgold] 22/12/2020 10:58

Does mr. makeamillion3 have a personal vendetta against Peel?? I don't know when the guy left, how good or bad his performance was but markets have rebounded since the march drawdown. If it's his departure, markets or both, I don't know, I don't care and frankly it does not matter.

This business makes money on AUM, if its £1B / £1.2B it doesn't really matter even if the tooth fairy is looking after it, so far these accounts are riddled with BS provisions, write downs and fruitless capital raises. Who is in control of all of these, the management board. Why was the GM cancelled? Because some larger shareholders probably caught on to what Raven/Cooke were up to.

FYI, the 'dizzy heights' of 6.5p are now a almost 500% increase from the current share price....

[chrisdgb] 22/12/2020 10:21

I am still hoping an interesting acquisition can be made that can draw a line in the sand..............

[makeamillion3] 22/12/2020 09:30

Hi Phil,
Yes sorry.... my ISA managed by them has increased within their portfolios and as I say, performance appears to have increased since Peels disappearance... maybe his plans bearing fruit, or a different philosophy, but either way, it’s a decent turnaround.

As you say, the share price is shocking. I’ve been in a while also and each drop I’ve bought more to ‘average down’... now this share alone in my holdings is a long way down....
My other shares have rescued me and reduced my loses...

The dizzy heights of 6,5 and 4p look along way off....

Some company statement to long standing share holders would be very welcome. We can wish....

[phillzy1] 22/12/2020 09:19

I can't comment for the performance of the tavistock investments portfolios but can only assume you're impressed with that performance. As far as the the share price is concerned Tavistock is down 35% on the year, 30% on a 1 year basis and a grand slam of 75% on a 5Y chart. This stock underperforms is every metric.


I appreciate your other ISA investments have increased but as someone who has had this sitting in their SIPP for best part of 5 years constantly decreasing in value with false promises by the board, exhaustive capital raises and management compensation increase at a similar rate it is incredibly frustrating to watch. Add the last 2 RNSs and we are talking borderline CRIMINAL!

I have taken losses I doubt I will ever recover from and the management wants to further increase their long term options incentives!! I question how independent the chairman of this company is as he has clearly failed to protect the interests of shareholders other than HIS management team.

As per the current track record, any cost savings or beneficial news to the companies' finances have so far either been written off; used to line the management's pockets or been diluted away. This company should have had one of it's best interim performances given the markets bounced back and furlough allowed to them save in staff wages.

Again, this board has had 6 years to add any value to the company, it has failed to do (organic/via acquisition). There is no reason why it should continue to operate with them at the helm.

So to answer your question, my pick would be Plan C and Plan R but knowing full well how these people operate I wouldn't rule out plan P.

[makeamillion3] 21/12/2020 15:32

As I said, I’m a client and the adviser told me... no effect to him as he worked from home anyway. Said a few branches either closed or closing with some redundancies. I think they announced cost cutting plans in a RNS somewhere....

Plan B-Z.... take your pick....

[phillzy1] 21/12/2020 15:18

There is always 'Plan P' as per Rennison's past, put the company into a pre pack administration, write shareholders down to zero and buy it back on the cheap and increase your ownership that way. Maybe that's the xmas bonus you're referring to..

Can you point me to where you have seen that some local offices have been closed and centralised, can't seem to find the information in the public domain? Thanks

[phillzy1] 21/12/2020 13:46

The only personal vendetta I have is that I am currently underperforming the FTSE by 80% over the last 5 years thanks to this company. I have no issues with share raises, performance incentives etc but don't try and pull the trigger when EVERYONE is sitting at a loss.

Faith in shareholders will be restored perhaps with 'Plan C' which begins with showing Cooke the door, subsequently followed by 'Plan R' which has a similar approach to 'Plan C' but concerns Raven (the CEO not the son who's the MD of Wealth!) .

[makeamillion3] 20/12/2020 20:32

I’m a client of Tavistock, and to be honest have been relatively impressed with this years performance, especially since Chris Peel stepped aside. Hopefully this should push the FUM further forward. It also appears that some local offices have closed and been centralised so you would assume costs substantially reduced.

I hold shares here and have seen loses here like others, so I’m glad my ISA investments have increased elsewhere...

Despite the concerns raised (although some like like personal vendettas) I’m also curious to the next steps. Quick growth is obviously what the management are looking for, and to do so requires investment or dilution. I think all shareholders now would vote against further dilution, so what’s the plan to grow the business other than a organic (ie slow) route? Obviously the previously proposal wasn’t accepted as dilutions hit current holders whilst benefiting the management.
So, plan b, c or whatever is required to restore the faith of the shareholders.
Let’s all hope for a Xmas bonus announcement and push forward to benefit everyone

[britt290] 20/12/2020 20:04

I have been reading and taking all these posts in, as a shareholder back from the 3.5p days I do wonder what the REAL motive is for the chairman wanting to pass this resolution really is. Given their history of issuing shares like there is no tomorrow, a 'cancelation' of 60m shares did seem too good to be true.

The latest RNS was very clear to mention that the board will be in touch in the new year with a revised plan, why the sudden urgency? Given the strong backlash and that this management team has added nothing to the market cap of this company, what is really going on in the background that Tavistock management don't want ordinary shareholders to know... Would be interested to know what others think.

[phillzy1] 15/12/2020 11:07

Appropriately priced until Raven/Cooke are either forced to resign or there is a big management shake up.

[chrisdgb] 15/12/2020 09:10

Topped up today, simply too cheap, I see they had a nice tie up with the Acumen portfolios on the Canada Life platform....

[mandarin4] 08/12/2020 18:08

You are 100% correct on this. Both have now been exposed and surely no shareholder will trust any of their future proposals. The clock is ticking and unless they turn this around very quickly I don’t see why they remain in their positions.Somewhat surprised, as are you, that the press are not all over this.

[phillzy1] 07/12/2020 19:13

Find it odd that the press is not covering this story, Citywire have published an article that (despite the negative comments) has found itself deep in google news (hxxps://citywire.co.uk/wealth-manager/news/tavistock-postpones-meeting-amid-incentive-controversy/a1434569). Aside from them no one else.

Considering the management board has tried and failed to steal 25% of the company from shareholders, a number of which revolted against the proposed resolutions. It does make you wonder..

[tomgold] 07/12/2020 11:17

What a difference two weeks can make.

The RNS on 20 November concluded with the following: "The Board consider that the proposed incentive arrangements will be beneficial for the Company and its shareholders as a whole, and unanimously recommend that shareholders vote in favour of the resolution to be proposed at the GM, as they intend to do in respect of their aggregate shareholdings of 94,736,629 ordinary shares representing approximately 15.59% of the ordinary shares currently in issue."

The RNS from 4 December concluded with the following: "The Board has received feedback on the Proposal from a number of shareholders which has highlighted that certain aspects of the Proposal could inappropriately favour the interests of the Company's leadership team over those of shareholders in certain circumstances. This is counter to the Board's intention and, as a consequence, the Board recognises that certain aspects of the Proposal need to be amended."


This was a premeditated move that failed and the Board has been caught out. It’s time for Raven, Cooke, Rennison and Doran to go!

[tomgold] 04/12/2020 14:22

Embarrassing to witness, the board can see the water coming in fast.


What are the odds the management contracts have been 'magically' rolled forward to 03/2025 from the 03/2022 date in this year’s full accounts? More than one of way to skin a cat…

[phillzy1] 04/12/2020 13:35

Raven and Cooke have been caught too deep with their hands in the cookie jar, I wonder what their next move will be? or indeed how they will ever come back from this! This needs the attention of the press.

[graham1ty] 04/12/2020 13:11

Surprised there is not more comment. Their greed now firmly in the spotlight and investors will read the next iteration rather more carefully !

[tomgold] 04/12/2020 09:32

Looks like there has been enough backlash... management is now fully exposed. Maybe it is time for the financial press to start digging for the truth? There is no smoke without fire, it's starting to rage!

hxxps://www.londonstockexchange.com/news-article/TAVI/postponement-of-general-meeting/14780435