Tag Archive for: Investments

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Do you know this man?

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A man from Glasgow placed on FBI’s ‘most wanted’ list

James Alexander Ward, 65 has been on the run for six years after being accused of ripping off victims in a precious metals fraud scheme in Fort Lauderdale, Florida. Ward, also uses the name Jamie, regularly dyes his red hair and uses aliases. He is known to travel to Mexico, Canada, Northern Ireland and Scotland.

The FBI alleges that Ward earned $400,000 via bogus deals involving gold, silver and platinum from at least 12 investors. Ward is accused of violating strict US commodities, law, along with his business partner Nathanial Walker, in 2011.

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Are your investments and pension safe?

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A very good article in This is Money yesterday highlighted something we come across at IYE Global a lot. Most investors are aware that if they stay below the Financial Services Compensation Scheme threshold – currently £85,000 per bank – their savings are protected.

But what about other investments, indeed, what about your pension which can be a far greater figure and significantly more important for retirement?

The FSCS limit for investments is £50,000 per firm you invest with. An important note here, this doesn’t cover you if the value of your shares or funds falls, but for such things as bad advice, mis-selling and maladministration.

The Financial Conduct Authority’s recent report into investment platforms revealed that out of their average investable assets of £260,000, the average customer held £91,000 on a platform.

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