Malcolm Streatfield, the chief executive of Lighthouse Group, said the company is seeing the "first green shoots of recovery" following a difficult two years as the business prepared for new rules brought about by the Retail Distribution Review (RDR).
Though the advisory group posted a pre-tax loss of £232k for the six months to 30 June, compared with a £59k profit for the same period 2012, Streatfield put this down to inward investment of £600k. This has included the implementation of a technology system based on Intelliflo's Intelligent Office and Distribution Technology's Dynamic Planner, which Streatfield said has now been rolled out across two thirds of the business. The group also spent money on marketing and recruitment. Streatfield argued that without this investment, the group would have remained profitable and that the re...
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