CFS advice arm for sale

Co-operative Financial Services is planning to sell its independent financial advice business to an unknown buyer after suffering losses last year of £7 million due to high compliance...

The potential offloading of Co-operative Independent Financial Advisers is part of the re-organisation of CFS following last year’s merger with Britannia and a spokesman told the News: “Whatever final decision is taken, we will seek to minimise any impacts to our colleagues and customers.”

The spokesman said a number of strategic options had been explored regarding CIFA, but added that it did not fit into the society’s strategic picture.

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