UK-based advice network Tenet Group is carrying out a review into the future of the company.
The company confirmed to International Adviser it has hired external advisers to review the business, amid increasing regulation and current market conditions.
A spokesperson for the network said: “We are working with external advisers to review and consider how we might adapt to a changing regulatory environment and market backdrop for the benefit of all our stakeholders.
“No decisions have been made and it remains business as usual for our members and their clients.”
While business reviews are fairly common, there is no certainty that Tenet will be sold or that it will even be put up for sale.
2022 has been a fairly quiet year for the network, considering its last acquisition was made in August 2021 with the purchase of Leeds-based advice firm Astute Financial Advisers for an undisclosed sum.
But it has focused on expanding its existing business with several hires including Julie Mulvanny and Rory Jackson as regional business managers; Anthony Sheard as head of learning and development; and Simon Broadley as managing director of the firm’s advice business Tenet&You.