Lighthouse returns to profit as adviser revenues rise

Jenna Towler
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Lighthouse Group returned to profit last year with pre-tax gains of £600,000 compared to a £1.6m loss in the previous 12 months, latest results show.

Its preliminary results for 2014 said the network and national advisory business had revenues of £47m. They stood at £48m in 2013. Average revenue per adviser was up £4,500 (5%) to £86,000. It said the increase represented its “resilience” since the Retail Distribution Review. However, the firm said gross margins were down from 31% in 2013 to 29%. It explained this was offset by a reduction in operating costs of £2.7m - an 18% cut. It said margins were down due to a change in the mix of revenue production within its network division “towards larger member firms trading under lowe...

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