FCA warns on fraudsters cloning advice firm Wealth Solutions

Midlands based firm rebranded as Amber River in November 2023

Isabel Baxter
clock • 1 min read

The Financial Conduct Authority (FCA) has warned that fraudsters are copying the details of advice firm Wealth Solutions – now Amber River - and is targeting individuals.

The regulator said fraudsters are using the false details of Midlands-based Wealth Solutions and are giving out false details, including email addresses, telephone numbers, postal addresses and firm reference numbers. The FCA warned that Wealth Solutions is not authorised, and fraudsters copy the details of authorised firms to "convince people that their firm is genuine". "Scammers may mix these details with the genuine details of authorised firms," the FCA said. "Almost all firms and individuals must be authorised by us to carry out or promote financial services in the UK." Fur...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

MKC Wealth makes double IFA acquisition

MKC Wealth makes double IFA acquisition

Both firms have been acquired for an undisclosed sum

Isabel Baxter
clock 25 November 2024 • 2 min read
Tavistock acquires asset manager and moves forward with Saltus advice sale

Tavistock acquires asset manager and moves forward with Saltus advice sale

Will receive £22m by 2 December

Isabel Baxter
clock 22 November 2024 • 2 min read
The Penny Group adds £90m of assets with Surrey planning firm buy

The Penny Group adds £90m of assets with Surrey planning firm buy

Chartered firm snaps up Whiting Financial

Isabel Baxter
clock 20 November 2024 • 2 min read