There are several tell-tale signs that might show that a financial adviser might be scamming you. Here’s what you can do about it, writes Morag Ofili
Every once in a while, we hear a sensational story about a financial adviser who manages to swindle their wealthy and business-savvy clients out of thousands – if not millions – of pounds.
With facts worthy of fiction, many of us shake our heads in disbelief, certain that we would never fall for such a scheme. But if you don’t truly know or understand where your money is going, you could be leaving yourself exposed.
There are a number of financial adviser scams. Examples include charging excessive commissions, financial mis-selling, fraud and systematic theft. Schemes can vary in length and complexity – often making it hard to know what is going on until it is too late.
Common tell-tale signs that your adviser could be dishonest include:
- They won’t commit things to writing.
- They are…