A recent bulletin from the Financial Conduct Authority (FCA) is urging investors to avoid a company operating under the name Lad Asset Management Limited. The UK watchdog has explained that the enterprise might be offering financial services and products with the authorisation of the FCA, and that investors show be aware of potential scams designed to relieve them of their funds.
Almost all individuals and firms must be authorised by the UK regulator when they sell, promote, or offer financial services and products in Britain. The FCA has reported that despite no authorisation being granted, the firm is targeting UK residents.
Investors in the UK who are unconvinced whether an investment opportunity is genuine often look for expert financial advice in Chester, Birmingham and other cities before committing their funds. Wealth managers are independent financial advisors who can offer an expert assessment when investors are presented with financial products and services.
In the recent warning, the FCA has given a reminder to investors that if they deal with the company, they will not be eligible to access the Financial Ombudsman Service should they need to lodge a complaint. Additionally, they will not have the protection of the Financial Services Compensation Scheme (FSCS) should things go wrong. As a result, if the firm should go out of business, it is unlikely that investors will receive their money back.
To remain protected, the UK regulator urges consumers to only enter agreements with financial firms that have FCA authorisation. To check this, investors can look up firms on the Financial Services Register.
