IFA group Lighthouse cuts 10% of staff

Most of the downsizing has come in back office support; however the firm has axed a small number of advisers in its LighthouseCarrwood division. Lighthouse executive chairman David Hickey says the losses come at a time of industry-wide contraction for the adviser profession. “There were some cuts, but they were advisers who just haven’t been making the grade,” he says. “It is a difficult time for the market, advisers who are earning 30 or 40 or 50 thousand a year just don’t make enough to survive. “I would say 50 thousand is the cut-off, while you would need about 70 to be reasonabl...