Quilter Financial Planning has been praised for its handling of Lighthouse’s involvement in the British Steel Pension Scheme scandal by the FCA.

The FCA has censured Quilter-owned Lighthouse Advisory Services Limited for serious advice failings in relation to the British Steel Pension Scheme (BSPS) which resulted in £23m paid in redress to clients.

MKC Wealth - which acquired the advice arm of the troubled Lighthouse group from Quilter last year - has acquired veteran London IFA Anthony, Bryant & Company for an undisclosed sum.

Financial Planner and wealth manager Quilter, one of the UK's largest adviser firms, has allocated an additional £7m for redress of British Steel Pension Scheme members and confirmed it cut 200 Financial Planner jobs in 2021.