Lighthouse earnings suffer as 100 advisers exit

Earnings on an EBITDA basis were £740,000 in the months to 30 June, against £967,000 recorded in the same period last year. That figure was calculated from a gross profit of £7.3m minus operating costs totaling £6.5m. Both figures were higher - at £8.1m and £7.1m respectively - in H1 last year. Lighthouse said earnings were impacted by a 15% reduction in adviser numbers - from an average 713 to 608 - and the efforts of remaining advisers on transitioning to new rules set to be introduced at the end of the year following RDR. The departure of advisers was due to the transfer of pers...