Lighthouse Group, a UK-based autonomous financial advisory service group, is all set to close its Exeter office, as part of a restructure of the business.
The closure of Exeter office places around 40 jobs at risk.
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Lighthouse said it had completed its consultation on its plans to close the Exeter office and move the firm’s back office operations centre to Stockport and Woodingdean.
The plan, which was first released in September 2013, has been given the green signal after consultations failed to raise compelling arguments against the Exeter closure.
Lighthouse said consultations would continue with those individuals currently employed at Exeter who have expressed an interest in relocating to either Stockport or Woodingdean.
The office is expected to be closed by 31 March 2014.
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By GlobalDataIn another development, the company has acquired a new facility in Woodingdean, near Brighton, for £1.6 million.
Lighthouse said the new premises, which are currently half occupied by its national arm Lighthouse Financial Advice, would take on the income collection and reconciliation functions from the Exeter office, and the new space would help its growth plans for its national arm and accommodate a training centre for its advisers and staff.
