The FSA has recently alerted consumers to a host of unauthorised firms, some of which may be targeting UK consumers. The regulator has said that investors should exercise caution if they have invested money with these companies, or are considering doing so, warning they will not be covered by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS).

The nine firms that are raising concerns at the FSA are:

• Momentum Investment Limited
• 360 Invest Group
• Green Carbon Solutions Limited
• Insignia Financial Services Ltd
• Richard Davies Investors Limited
• Blackbird Leys Credit Union Ltd
• Best Select Finanz,
• Axa Rosenberg Investment Management Ltd
• Forex Portfolios Management Limited.

If you are contacted by these firms do not pass on any of your details and refer the matter to a reputable independent financial professional. The FSA maintains a register of such firms. You can check the Proposito Financial Planning entry on this register using our reference number 209545 and clicking HERE