Co-operative Financial Services (CFS) exited the advice market because the advent of the retail distribution review (RDR) meant it needed to invest £50m in a business it described as "becoming increasingly sub-scale".
The organisation said RDR reforms plus rising regulatory costs left it with the option to invest millions or acquire an advisory business. Instead, last week it announced that, following a strategic...
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress