The warning is the latest in a growing list of ‘cloned’ investment and advice firms being used to try to defraud consumers.
The FCA points out that almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by the watchdog. The cloned Vanguard firm is not authorised or registered by the FCA but has been targeting people in the UK, claiming to be the authorised firm.
The regulator says it is possible people in the UK are being cold-called out of the blue and it has urged investors to be wary. It says the rogue firm may use the name of the genuine firm, the 'firm reference number' (FRN) given to the authorised firm or other details. It says that scammers may give out other false details or mix these with some correct details of the registered firm.
The cloned firm is using these details:
Vanguard Asset Management
Address: 25 Walbrook, London, EC4N 8AF, UK
Telephone: 02031293784, 02036954554
Website: www.vanguardassetmanagement.co.uk
The correct details for the authorised Vanguard Asset Management firm are:
Firm Name: Vanguard Asset Management, Ltd
Firm Reference Number: 527839
Address: 4th Floor The Walbrook Building, 25 Walbrook, London, EC4N 8AF, UK
Telephone: 02037535600
Website: www.vanguard.co.uk