Lighthouse Group (AIM: LGT), one of the UK's largest Independent Financial Advice and Wealth Management groups, announced that Seven Investment Management would join its Lighthouse Capital Programme.
The Lighthouse Capital Programme was created to allow the Company's advisers an 'end-to-end' investment process and more flexibility over funds under advice. The programme essentially focuses on matching a client's risk tolerance and investment goals to their fund investment options.
Seven Investment Management recently launched the Asset Allocated Passive Fund range which will join the Lighthouse Capital Programme.
Allan Rosengren, Joint Chief Executive of Lighthouse Group plc, said:
"As part of the LighthouseCapital programme we already offer a range of unfettered fund of funds provided by F&C and LV= Asset Management. The addition of the 7IM Asset Allocated Passive fund range, with their highly competitive charging structure and intelligent use of Exchange Traded Funds, further enhances the wide range of investments which our advisers can offer clients."
Yesterday, Allan Rosengren and Alex Scott-Barret acquired a cumulative 795,000 shares in Lighthouse Group at 10 pence per share.
The Company also reported interim results recently for the six months ended June 30. Highlights included cash balances of £12.3 million, total funds under advice up 12% to 6.3 billion and a maiden dividend of 0.2 pence per share.