lighthouse group

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Listed advice firm Lighthouse Group has teamed with a discretionary investment manager to create a 'cost-effective' focused investment advice service to be delivered online.

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.

Lighthouse Financial Advice, the middle market unit within national adviser Lighthouse Group, has extended a contract to provide advice to members of a motoring and leisure club for a further three years.

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Advisers who embrace young clients despite their lack of wealth are building the foundation for a more valuable business, Lighthouse chief executive Malcom Streatfield has said.

Lighthouse Financial Advice (LFA), the national arm of the Lighthouse Group, has set out plans to recruit some 180 advisers over the next 18 months.

The industry has yet to develop profitable simplified advice models because it is waiting on clearer guidance and direction from the regulator, Lighthouse group chief executive Malcolm Streatfield has said.

Lighthouse group has had yet another year in the red, but chief executive Malcolm Streatfield has a plan in place to turn it around.

National advice firm the Lighthouse group has reported a pre-tax loss of £1.6m for 2013 in a marked improvement on the previous year despite falling adviser numbers and a £310,000 provision for consumer redress.