Wrap platform Novia has formed a strategic partnership with Tavistock by teaming up with Cocoon Investments to acquire a £250,000 stake in the business.
The deal will see advisers using the platform gain access to the centralised investment proposition offered by Tavistock’s DFM subsidiary, Tavistock Wealth, with Novia becoming a preferred platform for the business. Tavistock’s ‘retirement guarantee’ service will also be made available to advisers upon request. Novia and Cocoon, a major investor in the platform, have also agreed to provide a £750,000 loan to Tavistock to strengthen its business development plans. The three-year, unsecured convertible loan facility gives Novia and Cocoon the option of converting any outstanding su...
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