The firm would participate in a placing to raise £340,000, in a move that chief executive
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
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
Raven is projecting to launch substantial assets onto the Novia platform as the business expands.
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