Lighthouse Regulatory News (LGT)

9 Mar 2005 07:00

For Immediate Release9 March 2005 LIGHTHOUSE RESTATES COMMITMENT TO INDEPENDENCE Lighthouse Group plc (`Lighthouse'), one of the UK's largest firm's ofIndependent Financial Advisers, today re-states its commitment to independence,in the wake of the recent FSA announcements on depolarisation.Commitment to IndependenceLighthouse advisers across the group have all built advisory propositions basedaround the ability to scope the whole of market, and many thousands of clientswho use the group have benefited immensely from this approach. Lighthousecurrently sees no benefit to its 500 advisers or their clients, or indeed theGroup, by changing its position.Reduction in PI ExcessAt the same time as advising members of its continuing commitment toindependence Lighthouse has also confirmed that it has secured a 50% reductionin annual Professional Indemnity (PI) excess for its members with effect from 1March 2005. This reduction is directly attributable to the quality of thecompliance track record of Lighthouse and its members.Malcolm Streatfield, Chief Executive of Lighthouse, commented: "Lighthouse isabsolutely committed to enabling its advisers to retain their valuedindependent status. This status is held in high regard at Lighthouse and webelieve it will become an increasingly attractive factor for quality IFAslooking for the right group with which to grow their business." ENDS Further information:Lighthouse Group plc Tel: 020 7776 8890Malcolm Streatfield, Chief ExecutiveWaughton Tel: 020 7796 9999Robin Hepburn/Sorrel DaviesENDLIGHTHOUSE GROUP PLC