Lighthouse Advisory Services, which was bought by Quilter Financial Planning in 2019, is continuing to give defined benefit (DB) transfer advice despite the FCA’s ongoing investigation into its DB work.
In a Friday (5 June) market update, Quilter revealed Lighthouse was one of the 30 firms facing an enforcement investigation, which arose from concerns identified during its ongoing work into DB transfer advice. The Financial Conduct Authority (FCA) is currently investigating whether Lighthouse breached certain regulatory requirements in connection with advising on and arranging DB pension transfers between 1 April 2015 and 30 April 2019. The update also confirmed the FCA has required Lighthouse to appoint a skilled person under section 166 of the Financial Services and Markets Act 200...
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