Lighthouse Group has cited the "levelling out" of pension transfer advice demand and the correction in UK and global financial markets as the reasons underlying its fall in group revenue.
In its 2018 final results, the national advice and investment firm revealed group revenue for 2018 was 1% - or £0.69m - lower than in 2017. Group revenues totalled £53.42m, and profit after tax stood at £2.53m - slightly lower than 2017's £2.72m. The results noted "high demand" for advice on defined benefit (DB) transfers in 2017 was being replaced by ongoing fees from those clients in 2018 and beyond. Elsewhere, average annualised revenue production per adviser maintained a "record level" of £122,000 from 2017, while recurring revenues generated from clients were up 10% to £26.77m. ...
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