LIVERPOOL Victoria and Lighthouse Group have entered into a strategic partnership which will see the friendly society take a 9.99pc stake in Lighthouse.
As part of the agreement, Liverpool Victoria, which recently rebranded to LV=, will give Lighthouse exclusive access to provide independent financial advice to the friendly society’s affinity group members, including 10 of the UK’s largest trade unions and its 42 “whole of market” face-to-face advisers. Eight telephone advisers will be offered the opportunity to transfer to new self-employed contracts with Lighthouse. The £1.9m deal will see Lighthouse issue 4,172,672 new shares, equating to 4.99pc of the total enlarged Lighthouse shares to LV=. The friendly society will take a fur...
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