The FCA has launched a probe into DB transfer advice given by advisers at Lighthouse Group - now part of Quilter.

Quilter plc, the wealth management and investment group, has reported a pre-tax loss of £53m for last year compared to a profit of £41m for the previous year.

Quilter has now completed the acquisition of Lighthouse through its wholly-owned indirect subsidiary, Intrinsic Financial Services Limited.

Financial Planner Quilter has agreed a deal to acquire adviser network Lighthouse in a £46.2m deal.