View more on these topics

Lighthouse shines with interim profits soaring by 66%

Lighthouse Group has seen first-half profits leap by 66 per cent and says it is on track to pay its first dividend next year.

Profits rose to £786,000 £786,000 for the six months to June 30 from £473,000 in the same period last year, with turnover up by 30 per cent to £26.6m from £20.5m.

Lighthouse, which has 600 advisers, says total funds under advice grew by 42 per cent to around £5.6bn with individual adviser turnover up from £71,000 to £85,000 on average.

Chief executive Malcolm Streatfield says: “Many of our lower-producing advisers have retired or left and been replaced by higher-producing advisers, so now we have more advisers, each writing more business.”

Lighthouse says the market is forecasting group profits to hit £3m by the year end and expects to pay a maiden dividend next year.

Streatfield says: “We are not in a position to have to cons-ider a merger. As for us being acquired, that is out of our hands as a quoted company but we are pleased to see that of the four other big distribution firms that were Aim-listed in 2000 – Millfield, Inter-Alliance and Berkeley Berry Birch – we are the only one still standing.”


Mexican twist

The R word is with us again. Recession in the US brought about by the parlous state of its housing market and by the squeeze being put on businesses by the drying up of liquidity is now being talked about openly. Other developing economies have been growing strongly but the health of the US economy […]

Wynne-Jones leaves Assureweb

Assureweb director of sales and marketing Stephen Wynne-Jones is leaving the firm. Norwich Union’s Mark Wilson will take over the trimmed-down role of head of propositions with chief executive John Spellman taking a more hands-on approach. Head of product management Chris Metcalf is also leaving after his position was made redundant.

C&G’s Champion to leave after 20 years

Cheltenham & Gloucester intermediary sales director John Champion will be leaving at the end of the month after 20 years with the firm.A C&G spokeswoman says Champion had told the company earlier in the year that he would be leaving but had decided to stay on until this month to oversee the restructure at the […]

Advantage sub-prime mortgages

Last week’s Money Marketing wrongly reported that Advantage had withdrawn its sub-prime range. The lender repriced and changed the criteria for self-cert, sub-prime and buy to let this week but did not withdraw the old rates. We apologise for any confusion.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm