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United Kingdom : TAVISTOCK INVESTMENTS cooperates with NOVIA

September 2, 2014

Tavistock Investments has been collaborated with Novia, as part of which they have agreed a loan of 750,000.

The firm would participate in a placing to raise 340,000, in a move that chief executive Brian Raven believes will help establish Tavistock as a significant financial services company .

Novia and Cocoon have accorded to offer Tavistock with a three-year, unsecured, convertible loan of 750,000 for business development and working capital purposes.

It is expected that the interest would be paid quarterly until August 2017. The lenders also endowed in the subscription with a combined sum of 250,000.

The deal covers that Tavistock Wealth would support Novia as a preferred platform and Novia will introduce advisers to Tavistock.

The Tavistock subsidiary would be allowing Novia supporting independent financial advisers access to its capital improvement plan, which is only available to advisers within the Tavistock Partnership.

Raven is projecting to launch substantial assets onto the Novia platform as the business expands.

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Source: TendersInfo (India)

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