Lighthouse Group: Well-Established Adviser With A Specific Angle
Edison | Jul 10, 2018 06:36AM ET
Lighthouse Group Plc (LON:LGHT) is a financial adviser and aims to provide well-researched solutions to individuals and corporates. It is differentiated by its leading position in serving the members of affinity partners, where it has 21 relationships with unions and other organisations. There is a significant opportunity to increase penetration in this area and success could generate earnings surprises, given the investment already put in place to support the activity.
Resources and experience to serve Middle Britain
Lighthouse sets out to provide holistic advice to what it characterizes as Middle Britain. This fits well with its affinity-based business that accounted for 18% of sales and 50% of EBITDA (ex-central costs and wealth management loss) last year. Profitability is higher here because Lighthouse provides the client leads to advisers, so the pay away to them is lower. The group has invested in the IT and central functions needed to support this area, which also strengthens the proposition offered by its employed and self-employed advisers in other areas of the business and reduces risks for the business and customers. Once acquired, clients tend to be sticky and recurring revenue accounted for 46% of total revenue in 2017.
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Well-Established Adviser With A Specific Angle
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