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You may have seen emails alerting you to a new fraud specific to the financial services advice industry. While we are not aware of any of our clients being targeted in the way described below, it is our responsibility to educate our clients about these scams to avoid any harm coming to them.
The fraudsters claim to be from the Financial Conduct Authority or local law enforcement and target clients of investment management firms. They tell clients that their investment manager, adviser, or firm is under investigation.
The fraudster specifically instructs the client not to speak to their investment manager, adviser, or firm, or even close connections, claiming this would be considered tipping off. The client is then advised to encash their portfolio and move the cash to their own bank account. Once this is done, the fraudster ‘recommends’ an investment, which is actually a scam.
Clients should be extra vigilant if they receive any unexpected communications from third parties about their relationship with their Nexus Global financial adviser or the company. If you receive suspicious instructions, you are advised to check the legitimacy of these claims.
If you believe you have been a victim of fraud, report it to the police as soon as possible. The sooner the fraud is reported, the greater the chance of containing or minimizing the damage.
Nexus Global members are asked to pay attention to the regular emails sent reminding you about electronic communication safety and scams. If you have been impacted by such a fraud, please alert Blacktower Risk or your local Compliance Team in case additional steps can be taken as a business.
You can find further advice on preventing fraud and recognizing scams at the following links:
Before you engage us, we’ll get to know you to make sure we’re a good fit in terms of understanding what is most important to you.
After our discovery call, we will summarise our understanding of your current situation and the key objectives which will ensure we're aligned with your goals.
Once you’re happy that we’re right for you, we’ll provide our recommendations and implement them for you. But there’s never any pressure from us to proceed – that’s just not our style.
We will implement your plan, constantly monitor and report on the performance to ensure your private wealth is optimised and aligned with your goals and working for you. Additionally, we’ll provide you with regular statements and a half yearly review to ensure that you remain up to date with any investment or tax changes and that we continue deliver for the long term.
