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

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...