7 Sep 2015 07:00
Press Release | 7 September 2015 |
Lighthouse Group plc
("Lighthouse" or "the Group")
Lighthouse renews and extends affinity contracts
Lighthouse Group plc (AIM:LGT), the national financial adviser of choice for Middle Britain, is pleased to announce that it has agreed contract renewals with British Airways Clubs ("BA Clubs"), the Association of School and College Leaders ("ASCL") and The Bakers, Food and Allied Workers Union ("BFAWU"), to be the preferred provider of expert financial advice to their memberships. In addition, the current contract with Royal College of Nursing ("RCN") has been extended for a further fifteen months.
The renewed contracts will all run for a further three years and under the terms Lighthouse will be the preferred provider of financial advice to BA Clubs, ASCL and BFAWU members, encompassing a full range of financial advice services, including advice on savings, investments and pensions.
BA Clubs provides membership benefits to circa 40,000 current or former British Airways staff members.
The Association of School and College Leaders represents more than 18,000 education professionals, including Executive Heads, Secondary Heads, Deputy Heads, Assistant Heads, Bursars and Business Managers, College Principals, Vice-Principals and others with whole school / college responsibility.
The Bakers, Food and Allied Workers Union is a trade union with 23,000 members who are situated in worksites throughout the UK, representing a wide variety of workers in the food industry.
The Royal College of Nursing has over 400,000 members and pioneers professional standards for nurses in their education, their practice and their working conditions.
The contract renewals with BA Clubs, ASCL and BFAWU, plus the contract extension with RCN, all follow on from the recent announcement by Lighthouse of a new three-year contract with the Association of Teachers and Lecturers ("ATL"), reflecting the successful work that Lighthouse continues to deliver in the affinity group space.
Malcolm Streatfield, Chief Executive Officer of Lighthouse commented: "The Board is delighted that we have secured our partnership renewals with BA Clubs, ASCL and BFAWU, and extended our contract with RCN. We look forward to developing further our strong working relationships with our affinity partners over the coming years and continuing to assist members of our partner organisations with their financial planning requirements".
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For further information, please contact:
Lighthouse Group plc | |
Malcolm Streatfield - Chief Executive | Tel: +44 (0) 20 7065 5640 +44 (0) 7971 050500 |
malcolm.streatfield@lighthousegroup.plc.uk | www.lighthousegroup.plc.uk |
Media enquiries:
Abchurch Communications | |
Jamie Hooper / Alex Shaw | Tel: +44 (0) 20 7398 7719 |
jamie.hooper@abchurch-group.com | www.abchurch-group.com |
finnCap Limited | |
(Nominated Adviser and Broker to the Company) | Tel: + 44 (0) 20 7220 0500 |
Matt Goode / Emily Watts |
About Lighthouse Group plc
As one of the UK's largest autonomous financial advice and wealth management Groups and winner of FT Business's Large IFA of the Year Award for three years in succession 2010-2012, Lighthouse provides a comprehensive range of services to businesses and individuals and is retained by most of the major trades unions and other affinity groups to advise their combined memberships of over 5 million members.
Lighthouse has been listed on AIM since 2000 and presents an integrated financial services company for investors, coupled with significant scale in terms of distribution through financial advisers and wealth managers and its fully diversified business model.
The Group aims to increase its relationships with and the benefits it derives from its relationships with affinity groups and professional partners.
In April 2014 Lighthouse announced the launch of its Lighthouse Pensions Trust ("LPT"), an unbundled multi-employer Master Trust product that provides a cost-effective and one-stop shop service to enable small- and medium- sized enterprises ("SMEs"), under the Group's Lighthouse Workplace Solutions ("LWS") branded service. Some 1.8 million SMEs are required to establish auto-enrolment compliant pension schemes for their employees between July 2015 and March 2018. LPT utilises target date funds managed by Alliance Bernstein, which manages $486 Billion of funds world-wide and is 63 per cent. owned by AXA, with a subsidiary of Eversheds acting as the corporate trustee.
In June 2014 the Group announced an extension of its LWS offering with the launch of the Lighthouse Life Trust, again an unbundled multi-employer occupational Master Trust product that enables those businesses that have agreed to adopt LPT to meet their auto-enrolment obligations to provide death-in-service life assurance cover for all of their employees aged between 16 and 65, for the same cost per benefit, at very competitive rates, regardless of age, gender, location or pre-existing medical conditions. The scheme is underwritten by Zurich Assurance Limited with Bridge Trustees as corporate trustee.
Lighthouse operates from its headquarters in London as well as having principal operating offices in Stockport and Woodingdean, near Brighton.
For more information please visit: http://www.lighthousegroup.plc.uk/