Here are Nick Stapleton’s top tips for checking your investments aren’t a scam.
Check the FCA Register , external– Make sure the firm you’re considering is authorised by the Financial Conduct Authority (FCA). This ensures they are regulated and meet certain standards. If you invest in an unauthorised firm, wherever they may be, you will have far fewer protections if things go wrong. For example, you will not be able to refer your case to the Financial Ombudsman Service, external (FOS) or the Financial Services Compensation Scheme, external (FSCS).
Check the FCA Warning List , external– The FCA maintains a list of unauthorised firms and individuals known to be operating illegally in the UK. If a name appears on that list, avoid it completely.
For more information from the Financial Conduct Authority, external about how to protect yourself from scams click here.
For advise on finding an financial adviser, click here, external.
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