Lighthouse Group, a UK-based wealth management group, is acquiring Godfrey Pearson Limited, a Leeds-based financial advisory firm. Godfrey Pearson employs approximately 50 advisors. 

"Lighthouse sees this new division as complementing and enhancing its significant affinity focused business.   In addition to increasing group revenue and profits, the new division is expected to provide greater exposure to younger clients across a number of professions,”said David Hickey, executive chairman of Lighthouse.

To accommodate the business, Lighthouse has created a dedicated division, LighthouseGP Limited.  Advisors employed by or affiliated with GPL begin registration with LighthouseGP immediately in order to ensure a smooth handover of adviser and client relationships.

As part of the arrangements, Lighthouse is guaranteeing the acquiree’s existing banking commitments up to approximately £400,000. This amount is expected to self-liquidate through trading in the ordinary course of business over the next one to two years. 

In addition, deferred consideration of up to a maximum of £1.5 million in total may be payable over a three year period (in cash or new LGT shares at the option of Lighthouse), subject to the satisfaction of various performance targets.

Lighthouse Group is an autonomous provider of independent financial advice, wealth management and distribution of retail financial products in the UK, in excess of £6 billion of funds under advice.

The group provides support to approximately 900 IFAs across the UK.