The shareholders of the AIM-listed advice and investment management firm unanimously approved the £2.7m deal in a general meeting on 12 February.
Tavistock announced the acquisition to the stock exchange on 19 January, saying it would create the seventh largest advice network in the UK with 324 advisers, serving more than 65,000 clients with around £3bn funds under advice.
Tavistock chief executive Brian Raven said the businesses would be integrated and plans for independent and restricted offerings confirmed “in due course”.
The majority of advisers are independent, around 20% of Financial’s advisers are currently restricted, he added.
As well as initial cash and ongoing working capital, Tavistock pledged to pay each Financial adviser £2,000 who remained with the group from the date of completion of the acquisition until 31 March 2016.
Tavistock said it had raised £2.7m through an initial placing and subscription and an additional £356,000 from existing investors since announcing the deal.
The firm said it plans to expand further through both acquisitions and organic growth.
Financial generated annual revenues of some £35.3m last year, however its latest accounts showed it posted pre-tax losses of £106,000 following the write-off of goodwill.
The network was subjected to a four-and-a-half-month recruitment ban by the regulator last year, after it found the firm had failed to adequately supervise its advisers.
Raven said the group is “well funded to continue” expansion.
He said: “We are delighted to bring this deal to a conclusion and to have had the unanimous support of our shareholders in doing so.
“Having received change in control approval from the FCA, the focus now is on integrating our operations. Tavistock has a robust and scalable business model, with a retirement guarantee and investment proposition that are both attracting considerable interest.”
