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

Neil Woodford's W4.0 rejects FCA's characterisation and 'regrettable' civil claim

Neil Woodford's W4.0 rejects FCA's characterisation and 'regrettable' civil claim

In response to civil proceedings from the regulator

Patrick Brusnahan
clock 09 June 2026 • 2 min read
FCA obtains £452,000 confiscation order in Ponzi fraud case

FCA obtains £452,000 confiscation order in Ponzi fraud case

Confiscation order against convicted fraudster Daniel Pugh

Sophia Panayi
clock 08 June 2026 • 1 min read
Two arrested over suspected £153m TikTok tax scam

Two arrested over suspected £153m TikTok tax scam

Accused of promising financial rewards for personal details

Jen Frost
clock 04 June 2026 • 2 min read