The FCA believes the company, called Cartwright & Brown Wealth Advisory, is based in the United Arab Emirates.
Cartwright & Brown’s website claims the firm has been in business since 1994 and offers “financial planning advice and investment advice (or wealth management’ advice as it is also called), to individuals, charities, trusts and companies.”
In the introduction to the firm on its website it says: “Welcome to Cartwright & Brown Wealth Advisory. Cartwright & Brown is a unique, nationwide panel of Independent Financial Advisers who believe in doing the complete opposite to most financial advisers. We don’t focus on selling financial products. Instead we focus on providing advice that helps you get and keep the life you want.”
The Cartwright & Brown website does not appear to list any regulatory body for the business.
In a statement the FCA said: “We believe this firm has been providing financial services or products in the UK without our authorisation.”
It warned the public to be “especially wary of dealing with this unauthorised firm.”
It added: “…some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”
Cartwright & Brown has been contacted for comment.
The FCA issues several warns about clone companies, scam firms and unauthorised businesses each week and urges consumers to check the Financial Services Register to ensure firms are authorised.