National advisory group Lighthouse has reported a near-£90k profit for the first six months of the year, up from a £232k loss in 2013, as average adviser earnings rose.
The group, which comprises mid-market Lighthouse Financial Advice (LFA) and high net worth propositions LighthouseCarrwood and LighthouseWealth, among other divisions, reported pre-tax profits of £88,000 in the period, up from a loss of £232,000 in the corresponding six months last year. The result was helped by a £1m - or 14% - reduction in operating costs to £6.4m, which itself was acheved despite increased investment in LFA, which specialises in affinity advice relationships. Revenues were broadly similar, at £23.4m. The group said its advisers had adapted well to revised method...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes