IFA saves client £150,000 after close shave with sophisticated 'Prudential' scam

'Just about believable'

Hannah Godfrey
clock • 3 min read

A financial adviser saved his client £150,000 after they came into contact with a sophisticated scam that appeared to be a legitimate Prudential product.

Daniel Williams (pictured), an IFA at Hull-based Morgan Williams, is part of the Personal Finance Society's (PFS) ScamSmart initiative, and described the scam as "the most sophisticated I've ever seen". A long-term client nearing retirement had £150,000 in cash after a product matured. They were looking to buy a holiday home in the near future, and were looking for a product to put the money into that protected them from the ups and the downs of the market, in a bid to avoid any risk of losing money for the new home.   Through a web search the client came across something called the P...

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

News editor's view: The advice profession is getting bigger, but is it getting better?

News editor's view: The advice profession is getting bigger, but is it getting better?

The news editor's Friday Night Takeaway from 11 September

Isabel Baxter
clock 11 September 2026 • 3 min read
Feel Good Friday: Rosemount renews mental health partnership for advisers

Feel Good Friday: Rosemount renews mental health partnership for advisers

Supporting The Global Returns Project, Grief Encounter, FoodCycle and Verve Foundation

Professional Adviser
clock 11 September 2026 • 1 min read
Is compliance the hidden driver of business value and saleability?

Is compliance the hidden driver of business value and saleability?

'The reality is simple - buyers will pay more for certainty'

Paul Bruns
clock 09 September 2026 • 7 min read