View more on these topics

LEBC profits top £2m amid focus on ‘bionic’ advice

Jack-McVitie-in-2013-700.jpg

National IFA LEBC has posted a pre-tax profit of £2.1m as the company looks to build the business around a hybrid advice and technology model.

For the year to 30 September 2016, profits are up 15 per cent from around £1.8m the previous year.

Staff costs rose slightly from £8.8m to just over £9m thanks to the increasing cost of the company defined contribution pension scheme.

Director pay was broadly flat at £1.1m, with the highest paid director receiving £337,889.

LEBC chief executive Jack McVitie says: “The momentum of strong company performance built on last year’s excellent platform is already evident in our results year to date.

“We continue to invest in information technology to deliver solutions for more clients in the most efficient way, as we engage with clients through technology. “Whilst there is industry wide interest in robo-advice, we believe more in providing “bionic” advice; the use of technology and human interface to deliver appropriate solutions.

“This combination is the only way to sustainably embrace the growing advice demand.”

 

Recommended

Chamberlain-Simon-Succession-2013-700.png

Succession acquires female advice firm Independent Women

Succession has acquired IFA Independent Women, a firm dedicated to providing financial advice for women, for an undisclosed sum. Independent Women managing director Lesley Mackintosh will stay at the business, which she founded in 1997. Independent Women’s specialist advice will be available throughout Succession Group’s regional network of client-servicing hubs. As well as savings, investment […]

Matthew-Pete
6

Pete Matthew: Creating a personal advice brand online

Winning a new client is a real achievement, especially in these cynical times. We forget what a massive step it is for prospects to set foot in our offices. They come with all kinds of fears, such as that they are going to be ripped off or made to feel financially inept. Winning a client […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment