LEBC pre-tax profit up 43%

Carmen Reichman
clock

National advice firm LEBC has posted a 43% increase in pre-tax profits for the last year, saying it had benefited from the "positive impact" of the incoming pension freedoms.

LEBC posted pre-tax profits of £1.1m for the year ended September 2014 - up from £770,000 in the year before. The group's turnover increased by 9% in the period, from £11.2m to £12.3m. LEBC is authorised by TenetConnet and operates 14 offices with 62 independent advisers across the UK. The group turned to profit in 2012 after switching networks from Sesame to Tenet. The firm had posted a £577,000 loss in 2011. Last year's results showed a 38% upswing in profits from £556,000 recorded in 2012. Chief executive Jack McVitie said the firm focused on increasing efficiency and impr...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Sector divided on Reeves' pullback on Cash ISA reform

Sector divided on Reeves' pullback on Cash ISA reform

‘A big win for defenders of a broken system’

Sorin Dojan
clock 11 July 2025 • 2 min read
FCA flags progress on internal DEI targets and urges action on Consumer Duty

FCA flags progress on internal DEI targets and urges action on Consumer Duty

According to the FCA report 2024-2025

Sahar Nazir
clock 11 July 2025 • 2 min read
FCA reviewing client categorisation rules to distinguish retail investors from the pack

FCA reviewing client categorisation rules to distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read