Quilter's Lighthouse ordered to pay out more than £16k over transfer advice mistake

clock • 3 min read

Lighthouse Advisory Service misguided a client on two pension transfers, resulting in him losing money and benefits associated with his pension funds, the financial ombudsman found. A Lighthouse client, whose identity remains confidential and so was called Mr W, complained to the Financial Ombudsman Service (FOS) after Lighthouse advised him to transfer his retirement annuity policy (RAP) from pensions company ReAssure to a third party transferee in August 2017. The RAP transfer was "mistakenly initiated by a Lighthouse adviser", the ombudsman found, and resulted in Mr W losing £19,39...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 08 April 2026 • 1 min read
Data-driven or anecdotal? Examining FCA Consumer Duty board reports

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

'Data is not a by-product of systems; it is a core governance asset'

Chris Davies
clock 27 March 2026 • 6 min read
FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

Regulator hits back at Complaints Commissioner’s final report

Jenna Brown
clock 26 March 2026 • 3 min read