FCA warns consumers on IFA clone

In a statement out on Tuesday, the FCA warned a firm operating as Pawlaks Group Asset Management is using one of the registered office addresses of IFA OCM Wealth Management when contacting consumers. The FCA considers the firm to be a 'clone' of the authorised IFA and has warned consumers to be "wary" if they are contacted by the firm. "This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called," it said. "They may use the name of the genuine firm, the 'firm refer...