The financial advice group LEBC has entered administration and its trading assets transferred to its sister company Aspira Corporate Solutions Limited.
All LEBC Group customers and staff will be transferred to Aspira with immediate effect with no impact on the service provided.
Aspira confirmed that customers’ underlying pension and investment assets remain unaffected by this process.
The two businesses will work as a combined entity and will provide pensions and investment advice to more than 1,600 entities and over 15,000 individuals.
Derek Miles, chief executive officer of LEBC and Aspira, said: “This FCA-agreed combination is a logical consolidation of the two businesses’ expertise and will provide an enhanced proposition for our clients and their customers.
“All LEBC staff and personnel will be incorporated into Aspira, with the shared management team unchanged. I look forward to leading the combined company as we continue to provide high-quality advice to our expanded client base.”
Aspira became a wholly owned subsidiary of LEBC Holdings Limited five years ago.