• March 28, 2024
 Investigation into wealth management company launched

Investigation into wealth management company launched

An investigation has been launched into the activities of a wealth management firm.

HBFS Financial Services Limited specialises in offshore investment wrappers and providing restricted advice. Following the announcement of one arrest being made regarding the firm, the Financial Conduct Authority  have since stated that it is working on a collaborative investigation with the City of London Police into the activity of HBFS.

This follows a warning published on the FCA’s website aiming to help consumers protect their pension pots from risky investments and scams. It prompted pensioners to consider a series of questions before transferring money into a fund, asking them to think about the motivation for doing so, the nature of the scheme, and whether it will generate guaranteed returns.

In a statement regarding the investigation, the regulator said: “HBFS’s customers are advised to check the status of any investments made through HBFS and, if they have any concerns, to contact City of London Police.”

Georgia Owen

Georgia is the Senior Content Executive and will be your primary contact when submitting your latest news. While studying for an LLB at the University of Liverpool, Georgia gained experience working within retail, as well as social media management. She later went on to work for a local newspaper, before starting at Today’s Wills and Probate.