Co-Op bond holders demand bank pays for their financial advice

clock

The Co-operative Group should pay for financial advice for bondholders set to be hit by its restructuring plan as soon as possible, says an action group.

The group set up to protect pensioners hit by the Co-op's plan is also pressing for the Treasury Select Committee to investigate the deal, according to the Mail on Sunday. Mark Taber, a professional bond investor who is behind the campaign, said: ‘In announcing the offer, the Co-op said it would look to fund financial advice. It has not been forthcoming. It should be providing advice now.' Pensioners, some of whom rely on Co-op bonds for up to half their income, have been left fearful by Co-operative Bank's plans to restructure its bonds, Taber said. Some were considering selling thei...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Neil Woodford to charge up to £70 a month to access portfolio platform

Neil Woodford to charge up to £70 a month to access portfolio platform

W4.0 launches

Cristian Angeloni
clock 06 June 2025 • 2 min read
FIF25: House of Lords member calls for stronger international economic cooperation

FIF25: House of Lords member calls for stronger international economic cooperation

Economics often a driver of geopolitical instability

Sorin Dojan
clock 04 June 2025 • 2 min read
Woodford sets date for portfolio platform launch

Woodford sets date for portfolio platform launch

W4.0 will launch on Friday 6 June

Cristian Angeloni
clock 03 June 2025 • 1 min read