Lighthouse to advise foster carers

Lighthouse to advise foster carers

National financial adviser Lighthouse Group has agreed a contract with FosterTalk Limited as the preferred provider of expert financial advice to its members.

The contract encompasses retirement planning, mortgages and investments for an initial two-year period from the start of this month.

FosterTalk is an independent, not-for-profit provider of professional support services to some 30,000 foster carers across the UK.

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Lighthouse already has a list of affinity partnerships within the medical and care sector, including Unite, the Royal College of Nursing and The Royal College of Midwives, and other major employee organisations such as Unison, Usdaw, BA Clubs and Prospect.

Melody Douglas, managing director of FosterTalk, said: “We look forward to developing our relationship with Lighthouse and ensuring that our members are able to secure robust and consistent financial advice.”

Malcolm Streatfield, chief executive of Lighthouse, said: “We look forward to developing our relationship with FosterTalk over the coming years. The board remains committed to increasing our affinity partnerships throughout the UK.”

In March this year, Lighthouse Group renewed its contract with benefit management specialist Parliament Hill.

At that time, the financial advice firm announced it will continue to be the preferred provider of financial advice for Parliament Hill members for a further two years.

In February, Lighthouse Group reported profit before tax was up 50 per cent to £0.9m in 2015, compared with £0.6m in 2014.

Average revenue production per adviser increased 8 per cent to £93,000, compared with £86,000 in 2014.

The boost to profits came despite operating costs increasing from £12.1m in 2014 to £13.2m in 2015 as a result of greater regulatory costs and increased business levels.