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Managers at Tenet Compliance Companies (TCS) have purchased the corporate after the guardian enterprise, Tenet Group, went into administration.
Tenet Compliance Companies (TCS) can be rebranded as TFAS Compliance Companies after being purchased in a Administration Purchase Out with assist from TFAS Enterprises, a long run shopper.
TFAS employs 50 employees 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 employees redundant out of a complete of 147.
TCS didn’t go into administration and continued to function.
TCS can be merged into TFAS Wealth which supplies regulated monetary companies comparable 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 stated.
TCS stated the transaction would supply continuity to TCS’ present purchasers.
As a part of the deal Karina Bowden, a former Tenet director, will develop into CEO of TFAS Compliance Companies. She was beforehand at Fairstone, Rathbones. Marjolaine Quirke from TCS additionally joins the enterprise.
Jeff Lange, group CEO of TFAS Enterprises, stated: “As a present shopper of Tenet Compliance Companies, TFAS Wealth has skilled firsthand the distinctive high quality and dedication of their crew.
“This acquisition aligns completely with our technique to offer essential companies to monetary advisers and their prospects. We’re excited to see the continued success and progress of TCS below the dynamic management of TFAS Enterprises.”
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