Member Article

LEBC fintech approach gets results

National IFA, pensions and employee benefits consultancy, LEBC Group reports an operating profit increase to £2.1 million (£1.8 million, 30 September 2015), a rise of 15.4%. Turnover increased to £15.4 million from £15 million (+2.7%) with significant additional net cash generation. Cash at bank has increased at year end by over £1.3million while the company paid dividends in the year of £800,000.

The results and particularly the strong net cash generation gives the company the platform for its next growth spurt as it looks to capitalise on the hard work carried out over the year and on proposition development.

The company has continued to develop propositions through its three divisions, Individual Savings & Investments, Longevity Risk and Group Savings & Investments.

Jack McVitie, Chief Executive of LEBC Group said: “The momentum of strong company performance built on last years excellent platform is already evident in our results year to date.

“We continue to invest in information technology to deliver solutions for more clients in the most efficient way, as we engage with clients through technology. Whilst there is industry wide interest in “Robo” advice, we believe more in providing “Bionic” advice (the use of technology and human interface to deliver appropriate client solutions). This combination is the only way to sustainably embrace the growing advice demand in a profit positive and cash generative manner”

Concluding McVitie said: “We are grateful to all our staff, for the loyalty that they have displayed, for their continued hard work, innovation, dedication and commitment in making this year another successful year.”

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