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

Navigating FCA skilled person reviews, remediation, and past business reviews

Navigating FCA skilled person reviews, remediation, and past business reviews

Risk of s166 review has 'never been more significant'

Marjolaine Quirke
clock 05 February 2026 • 2 min read
FOS complaints at lowest level in two years

FOS complaints at lowest level in two years

‘The data points to a system in transition rather than recovery’

Jenna Brown
clock 05 February 2026 • 3 min read
Why firms should prepare for the Consumer Duty to be loosened

Why firms should prepare for the Consumer Duty to be loosened

'The pressure to act is growing not just from industry, but from politicians too'

Justin Cash
clock 04 February 2026 • 4 min read