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LEBC eyes expansion after profits leap by 84%

National IFA LEBC Group nearly doubled its profits to £314,000 in the year to May from £171,000 the previous year.

The firm, which launched in June 2000, headed by former Towry Law-owned Advizas advisers, saw a 19 per cent rise in turnover to £5.1m from £4.3m.

LEBC says it hopes to increase its number of RIs from 36 to 50 by the end of the year across nine regional offices.

The firm, which recently opened a City office in Leadenhall Street, says it sees London as one of the main target areas for its recruitment drive.

Managing director Nigel Stallworthy says: “These are excellent results in very difficult trading conditions. We are now firmly established and are continuing our expansion. We have now grown from 18 consultants at launch to 36 and are still looking to recruit, with a target of 50 consultants in the near future as long as we can find the right people.”


Millfield cuts loss by 4.5 per cent

National IFA Millfield Group&#39s losses have fallen 4.5 per cent to £5.6m in the six months to September 2003, from £5.9m for the same period last year. The Aim-listed firm saw turnover for the period increase 65 per cent to £23.5m for the six months to September 2003, from £14.2m for the same period in […]

ABI appoints new head of life and pensions

The ABI has appointed a new head of life and pensions following Alan Woods&#39 return to the DWP after his period of secondment. Woods will be replaced by Chris Kenny who is currently the director of compliance at Oftel. Before this he worked for the Department of Health and HM Treasury. Kenny will start his […]

NU cuts 2,350 jobs in India move

Norwich Union is axing 2,350 jobs from its UK operation as it moves call centre and back office administration functions to India where 22,500 new jobs will be created. NU expects the majority of the job losses to be made up of voluntary redundancies, redeployment and staff turnover but says around 500 staff may face […]

Lender helps brokers on road to regulation

Kensington Mortgages is offering a service to help intermediaries prepare for mortgage and general insurance regulation. The lender, which specialises in non-conforming and impaired-credit cases, plans to issue a series of monthly guides from January to help brokers implement changes ahead of regulation. Mortgage brokers will be regulated from October 2004 and general insurance brokers […]


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