Three Tavistock bosses loan firm £630,000 to 'bolster' capital position

Despite challenging conditions

Sophie King
clock • 1 min read

National advice firm Tavistock has entered into £630,000 loan facility agreement with two directors and the firm's chief investment officer to help bolster the company's capital position.

A trading update released on Friday (27 September) revealed directors Oliver Cooke and Brian Raven as well as chief investment officer Christopher Peel gave an "irrevocable undertaking" to the company. All three senior employees will loan up to £210,000 to the company with the agreement the sums will be repaid with interest on 30 September 2020. In the update, the Tavistock board said the directors felt seeking to raise additional capital elsewhere would be "unduly dilutive for shareholders." It said: "To bolster the regulatory capital position in a manner that is not dilutive to s...

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 Companies

'It's about starting fresh': Oakglen Wealth's financial planning entry

'It's about starting fresh': Oakglen Wealth's financial planning entry

MD Chris Hall on the HBFS acquisition, organic growth and Jersey differences

Isabel Baxter
clock 05 September 2025 • 4 min read
Evelyn Partners to begin sale process next month – report

Evelyn Partners to begin sale process next month – report

The UK wealth management firm to kick off process in October

Sahar Nazir
clock 04 September 2025 • 1 min read
Brooks Macdonald profits slump 4.6% as FUMA rise to £19.2bn

Brooks Macdonald profits slump 4.6% as FUMA rise to £19.2bn

Revenues at the wealth manager also jump

Linus Uhlig
clock 04 September 2025 • 2 min read