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FSA warns over Geneva-based ‘St James Wealth’

The FSA has issued an investor warning about a Geneva-based firm going by the name of St James Wealth.

The regulator says that St James Wealth, which also trades under the brand St James’s Wealth Management Group, is not authorised under the Financial Services and Markets Act to carry out regulated activity in the UK.

In the warning the FSA says: “We believe that the organisation may be targeting UK customers.”

The FSA makes it clear that the companies have no association whatsoever with UK registered firms St James’s Place Wealth Management Group and St James’s Place Wealth Management.

The FSA adds: “If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorised company or individual.”

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