Member Article

LEBC growth story continues

National IFA, pensions and employee benefits consultancy, LEBC Group reports an operating profit increase to £1,106,000 (£774,000 30th September 2013), an increase of 43%.

This was driven by an increase of 9% in turnover from £11.2m (2013) to £12.3m for its financial year ended 30th September 2014, and by a focus on improving margin.

Jack McVitie, Chief Executive of LEBC Group said: “The positive impact of pension freedoms, and our expectation of increased volumes has allowed us to focus on increased efficiency and better use of technology to provide greater access to advice to our existing and new clients.

“We continue as a business to respond extremely well to the social, economic and political changes encountered to become a dominant force in today’s financial services market.

“LEBC has 14 offices spread evenly across the UK; such is the success of the business an ongoing recruitment programme is in place to attract the necessary talent to ensure that we meet the demands of our growing client base, the business and its ever changing sector.

“Looking forward our aim is to transform the access to top quality advice for employers, employees and individuals; in doing so we will be in a position to develop our business and plan for the next 10 years of growth.

“This year’s budget has some radical reforms to pensions and these legislative reforms have continued. The whole package of liberalisation of pension funds means that it is more important than ever for those with pensions and savings to have a financial plan in place to help them manage the way in which they access those savings and income throughout their lives.

“The new rules offer a real flexibility for retirement planning. But the extra choices carry far more personal responsibility for individuals to use their accrued wealth wisely and experienced advisers like ourselves have a crucial role to play.

“In the new pension arena for those employers who have not embraced the requirements of auto-enrolment, which is compulsory for every employer, large, medium and small, between now and 2018, they should be seeking advice as soon as possible.”

McVitie concluded: “We are delighted to release these results with their improved performance and we are happy to note that current year trading is ahead of last year, both in terms of turnover and profit. We look forward to reporting the full year outcome in due course.

“It is only through the continued hard work, dedication and skill of our staff that we are able to deliver such results.”

This was posted in Bdaily's Members' News section by LEBC Group Ltd .