Unauthorised Financial Advisers Jailed

Unauthorised Financial Advisers Jailed

Two financial advisers and directors from the West Midlands IFA, Westons, who were previously de-authorised by the financial services regulator, the Financial Conduct Authority, have been jailed after continuing to promote and arrange investment advice and products.

Sentenced at Birmingham Crown Court, Gary Hexley was given two years and John Cooper was given nine months in prison.

The full facts of the case are in the public domain, but for information, both were de-authorised, but then continued to promote investments into international investment funds and companies set up by them.

Comment

A warning to any investor, if it looks too good to be true, it probably is.  We have a saying on this website “you can only con a greedy person”.  Only ever take financial adviser from reputable firms such as ours and always, always check that both the firm and the individual you are dealing with are registered on the FCA’s website. 

Never part with money until you have checked who you are dealing with and certainly, if you have never heard of the investment company you are making your cheque payable to, then do not write it.