National IFA sees 8% jump in turnover

LEBC Group has seen an 8 per cent increase in turnover to £11.3m for its financial year ending 30 September 2013, with recurring revenues increasing by 13.5 per cent.

The national IFA, pensions and employee benefits consultancy has also seen its operating profit increase by almost 40 per cent to £774,000 in this period.

Jack McVitie, chief executive of LEBC, said: “Despite challenging market conditions over this period and a post RDR environment, our turnover was 3.4 per cent ahead of plan which is a great achievement.

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“As a business, we have responded extremely well to the social, economic and political changes encountered to become a force in today’s financial services market.”

He added the consultancy’s aim is to continue to provide “very clear, strong advice led propositions”.

Mr McVitie said: “We have an ambition to widen the availability of independent quality advice that can be delivered to people in the environment that they are in; whether on a self-service or full serviced basis.

“Then by transforming the access of top quality advice for employers, employees and individuals we will also be in a position to develop our business and plan for the next 10 years of growth.”

He added that this year’s Budget saw “radical reforms to pensions”.

McVitie said: “The new rules offer 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 will have a crucial role to play.”