Quilter adds further £7m to Lighthouse DB transfer compensation fund

Tom Ellis
clock • 2 min read
Quilter adds further £7m to Lighthouse DB transfer compensation fund

Quilter has revealed its review of Lighthouse defined benefit (DB) transfer advice has now moved beyond advice given to steelworkers and has set aside an extra £7m to cover the compensation costs for unsuitable advice given to clients of the firm. Quilter bought Lighthouse Group in June 2019, adding an additional 390 advisers to the firm's growing adviser operation. However, an affinity deal between Lighthouse and the British Steel steelworkers' union resulted in 300 DB transfers, which ar...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login