National advice firm LEBC Group enters administration

The asset transfer has been approved by the Financial Conduct Authority (FCA) after an "extensive consultation". All LEBC staff and clients are expected to be transferred to Aspira with immediate effect. Insolvency practitioners from FRP Advisory have been appointed by LEBC Group to handle the process. Customers' underlying pension and investment assets remain unaffected by this process. It remains unclear as to why the asset sale and administration has taken place. Meanwhile, LEBC and Aspira chief executive Derek Miles, who joined in November last year, will remain in the ro...