Lighthouse Share Discussion Threads

[sirfrancis] 03/10/2003 13:46

Time to move on!!

[sirfrancis] 03/10/2003 13:45

You need to get out of this one today!!

Lighthouse and its appointed representative Berkeley Wodehouse can no longer afford to pay its own consultants the commissions paid by providers. Many consultants are thousands of pounds out of pocket and they are leaving in their droves.

Sell today or cry tomorrow.

[clocktower] 17/9/2003 17:13

Looks like some excitment here.

[wotsadividend] 21/6/2003 23:43

Totally agree Paul. The Canada Life salesmen were easily transferred into the company without any hassles from the regulators. It is in their clients interests that they have a well established home and compliance base to work from. And the RJT guys are already well aware of the IFA practices unlike the CL people.

Hobie is an industry man and dislikes either BWA or Lighthouse IMHO.

Roll on next six months, another reason IMHO that others pulled out is bacause lots of poorly run IFA co's are asset poor and could not afford to pay £1MIL for some goodwill and 150 IFA's on block.

RJT have a very good record with regards to direct mail and can bring this to the table of future best practice within Lighthouse and BWA.

[paulkent] 20/6/2003 18:22

hobie..found this reading through the original announcement..looks like youre wrong re the timescale involved to transfer agents???..

"The appropriate applications have been made to the Financial Services Authority
to enable the consultants to operate under the new name with effect from
completion of the transaction"

also looks like you might be slightly wrong re.."Clearly no provider funding was available - they must have had good reason to turn it down"...as Friends Prov and Aegon have just subscribed for more shares quite happily as part of the equity restructuring and prob werent used in any other way because they didnt want to exceed 9.99%...???

mind you i think youre right re all these stocks being illiquid, but then that can work both ways if anyone gets interested in them, witness the recent rises...
re volumes, i cant remember exactly but i think that over 1million MIL shares traded hands in one day not long ago...cant remember when but i think its referred to in the thread on their BB coz i was a bit gobsmacked by it..

[hobiecat] 20/6/2003 15:30

Nope - but all these stocks are highly illiquid, there is absolutely no volume of trades for any, and the price is therefore not an accurate reflection of an active market.(There is no active market)Go look at Cavanagh - first trade today I can remember.

Lighthouse is a latent tied agency. They're just waiting for the FSA to permit the method. Think it would show a little bit of integrity if 'the management' were upfront with the RIs about intentions. They'll probably get taken out by MIL or BBB first though.

[paulkent] 20/6/2003 09:05

do you have an explanation for the recent healthy rises in those stocks hobie??

[hobiecat] 20/6/2003 08:25

I think you will find in the trades next week that the journos will be questioning the statement. The timescale for reregistration of self employed advisers is very long - 3 months is the likely period. Note that there is no confirmation of how many have registered - that is a very considered press release, they've done the deal with the firm, NOT the advisers, and the firm has no proprietorial ownership of self employed RIs.

Millward resigned & their is no direct marketing. Take a look at thye master's website - Hargreaves Lansdown are selling mortgages.

Advisers of the calibre of RJT? (Good grief!)Look at the figures.Do the financials of the deal suggest this was a valuable deal? The sector has a problem with this deal because it sends a loud & clear message that there is no value in turnover - £9m projected could only raise a price tag of £1m, and RJT had to pay the money into LGT themselves!! Clearly no provider funding was available - they must have had good reason to turn it down.

Where now for MIL, IAL & BBB? At their burn rates the end of this year is going to be a lot of fun. The current business models are going the same way as the emperors new clothes.

[paulkent] 19/6/2003 22:56

Lighthouse Group PLC said it has successfully secured the
transfer of over 150 former RJ Temple PLC consultants to its operations

Doesnt that confirm the number of joiners hobie??...

and i agree with wotsadividend re the extra dimension this adds to the LGT operation...plus i think that Temples client bank is huge..and might be worth even more if penetrated by LGT advisers

and i cant see what you mean by "daft deal" hobie..especially as you then go on to say that RJT are "very big and well-respected IFA"....er...exactly..!!

[wotsadividend] 19/6/2003 19:39

Nothing more than increase potential turnover by 30% in one swift move. By getting 150 new advisers of the calibre of RJT with their direct marketing systems and expertise. They have filled a hole in their gap between small networks and large Misys/Tenet groups.

This will give them increased power in the future to go to product providers for a larger slice of the commission pie. They also have annouced a loss of 7 Lighthouse advisers who have broken away to form their own IFA practice directly authorised. HO HUM !!

Top management, IMHO and good prospects within the sector going forward.

Hobiecat?? Which sector of the business are you in ??

[hobiecat] 19/6/2003 15:52

They haven't confirmed the number of joiners. They haven't confirmed the new board. They haven't confirmed RJT's new biz figures for the first half, nor the loss for that period, and the firm has been sold for £1m, being the assumed debt. £1m for a firm with a t/o projected of £9m says something is very, very broken in what's being bought. Misys didn't do the deal, the providers didn't, and BBB didn't. And the founder has had to put in new capital to LGT so they could afford to do it!

As daft deals go this is miles ahead of anything Kingsbridge ever did. If RJT was worth £1m for £9m turnover, what value is extrapolated to LGT? Obliquely the board have just given their assessment of the value of IFA firms (of which they are one), and RJT is a very big and well-respected IFA.

Oh Mr Streatfield, what have you done!

[paulkent] 19/6/2003 07:58

that is even more excellent news, that the transfer has been concluded so fast..and that so many temple advisers have gone along..usually much lower than 90% take up on this sort of thing i think, looking good for profitability now i reckon

[empirestate] 19/6/2003 00:12

very strange, i don't have an answer for that one

[paulkent] 18/6/2003 09:52

youre right empire..but, interestingly, i know there were two purchases last night just at 4.30pm which didnt get reported either last night (even after hours) or this morning...and the one ahead of me pushed the offer price up,..gnash gnash...thought ALl trades had to be reported tho??..why would they hide them?

[empirestate] 18/6/2003 09:05

at this level the price is a give away,i can see a huge improvement if there was a little more investor interest

[paulkent] 18/6/2003 07:58

oooh...look at this baby go!!!...thought as much, reckon that mkt cap might go up 50% based on this deal, and fairly quickly..share price of 40p + ?

[paulkent] 17/6/2003 18:17

sector has suffered a lot...but Ive noticed since end may its bounced quite healthily too...IAL, MIL and even Kingsbridge are coming back...this sort of deal is jsut what the sector needs tho..u need to create two or three key nationals who develop an identity and presence in the market, and are big enough to be profitable..cant help but expect providers to start snapping up chunks of this type of company as next year draws ever nearer..

[empirestate] 17/6/2003 17:36

paul, i recently bought a small amount of stock as i think that the acquisition programme will significantly enhance coverage for the group. considering the sector has taking a bashing over the past year there are some bargains to be snapped up by those on the acquisition trail. the next reporting date should make good reading and it wouldn't surprise me if the stock was re-rated and the price reflected the proper enterprise value of the business

[paulkent] 17/6/2003 16:38

that looks like a cracking deal jsut announced and very much in line with consolidation that i expected; reckon the central cost savings of the two groups joining on the higher turnover should make this profitable almost straight away..very good sign the RJ temple guy is taking stake in new enlarged group...also think its a much tastier target for providers now as well...mkt cap of £8mill with combined turnover of nearer £25mill...to a product provider thats worth lots more..look at PWP deal..sold for more than annual turnover if i remember...expect some buys to go through quickly before price jumps i reckon

[paulkent] 22/11/2002 13:24

mind you ..other IFAs solid or showing increases lately too...i think that the changes in regulator approach to PI and to remuneration are probably encouraging fin servs institutions to go out and get more and more of these big nationals snapped up in order to secure distribution in the years to come...interesting times

[dubberboy] 22/11/2002 13:17

very very weird

[paulkent] 22/11/2002 10:06

and now it zooms back up with nothing happening??...totally weird

[dubberboy] 18/11/2002 16:23

i think there has been a lot of ramping by people concerned with this company. Hush hush say no more type of info, shhh, shouldnt say this but ..............
face it, this co is a pile of cack (imho) well ramped but cack in a cack and dwindling market,,they havent exactly taken on a load of winners with their new staffing acquisitions either. funding, help, training,, LOL