Mr McVitie, who founded the advice group two decades ago, had taken a leave of absence for health reasons earlier this week and LEBC confirmed yesterday (September 3) he had passed away after a short illness.
The industry has responded to the news with tributes for the “fun” and “engaging” financial services veteran.
Peter Smith, industry consultant at FinTechReguLab, posted on Twitter that Mr McVitie will be “profoundly missed by all his colleagues, clients and many friends” in UK financial services.
He added: “Spent many an evening in Auld Reekie over a glass with him. RIP my friend.”
James Hay’s marketing man, Stephen Wynne-Jones, described Mr McVitie as “great company socially” but “also very professional”, while others agreed that a previous trip to New York had been “awesome fun” as Mr McVitie was “kind, thoughtful and hilarious”.
Simon Harrington, senior policy advisor at Pimfa, said: “Awful news about Jack McVitie. So very sorry to hear this” while CEO of James Hay, Alastair Conway, described him as “a lovely man and the best of our industry”.
Tributes were also tweeted by Nick Eatock, chief executive of Intelliflo, and Sarah Foreman, health and wellbeing mentor at LEBC.
Mr Eatock said he was very sad to hear the news while Ms Foreman said Mr McVitie was a “lovely man” who was “going to be so missed”.
Stuart Gregory, adviser at Lentune Mortgage Consultancy and ex-LEBC employee, said: “Very sad to hear the news of the passing of Jack McVitie of LEBC - during my time with the company, he was always engaging and good fun to be around. RIP Jack.”
Freelance journalist Sam Shaw described Mr McVite as “always such a gent”, but one who “spoke his mind, was happy to help a rookie journalist and lots of fun with it all”.
Mr McVitie founded LEBC Group in 2000 with the aim to deliver comprehensive advice that was tailored to client needs, committing to his goal to transform access to financial advice in the UK.
His main role was to oversee the development of the business with a focus on technology, including its robo-human advice hybrid bionic advice.
Chairman of the LEBC Holdings board, Oliver Bogue, said: “I speak for everyone at LEBC when I say that we are all deeply saddened by Jack’s death.
“Jack had guided LEBC with outstanding stewardship for the past 20 years and always acted in the very best interests of the group’s clients and staff, indeed all stakeholders, putting them at the forefront of all that he did.”