Beaufort securities clients warned of targeted scammers

More than 16,100 clients compensated

Hannah Godfrey
clock • 1 min read

Clients of collapsed discretionary fund manager (DFM) Beaufort Securities have been warned of potential scammers asking them to transfer money under the guise of moving their holdings to another broker.

According to the Financial Services Compensation Scheme (FSCS), those approaching the clients have claimed to be representatives of Beaufort Securities itself, PricewaterhouseCoopers (PwC), The Share Centre and other third parties. The potential scammers have contacted former clients and asked them to send over their money so they can move their holdings to the nominated broker. The FSCS said it was also aware of individuals offering to help with the return of clients' accounts. The lifeboat fund has made clear those individuals are not acting on behalf of who they claim to be, and th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Former Titan Wealth employee sentenced to community order for harassment

Former Titan Wealth employee sentenced to community order for harassment

Okunola handed 100 hours unpaid work and two-year restraining order

Sahar Nazir
clock 19 September 2025 • 1 min read
PA Awards 2026: Last chance to enter today!

PA Awards 2026: Last chance to enter today!

Celebrating the best in financial planning and advice

Professional Adviser
clock 19 September 2025 • 1 min read
Feel Good Friday: Quilter partners to help Armed Forces community become advisers

Feel Good Friday: Quilter partners to help Armed Forces community become advisers

Wealth manager partners with White Ensign Association and Forces Transition Group

Professional Adviser
clock 19 September 2025 • 1 min read