UK watchdog warns on 'rise of scams' in wealth management

Pedro Gonçalves
clock • 2 min read

Wealth management is increasingly being used as a vehicle for financial scams, the Financial Conduct Authority (FCA) has warned.  In its business plan the regulator again warned many scams are being hidden in DFMs' portfolios. "We have seen evidence of an increase in wealth managers' discretionary portfolios being used for pension scams, and poor conduct from wealth managers who make unsuitable investments in high-risk assets for their clients. Our activities will improve our ability to...

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