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Skandia takes 9.9 per cent stake in Lighthouse

Skandia has extended its IFA presence by paying £1.2m for a 9.9 per cent stake in Lighthouse, that the Aim-listed IFA will use to fund its recruitment drive.

Lighthouse last week agreed an exclusive deal to take on members of the Canada Life direct sales force who wanted to join the firm.

A statement from the board says Lighthouse believes it is well positioned to take further advantage of the changes occurring in the IFA distribution sector.

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