*Source: City of London Police
Though the contact methods used by fraudsters may vary, their tactics remain the same. Be vigilant when making investment decisions and look out for these warning signs.
They might tell you other people are interested or have already invested. They may also share fake reviews.
Offers of a bonus or discount if you invest before a set date, or suggestions that the opportunity is only available for a short period.
Sometimes fraudsters have convincing websites and literature. They might speak with authority on investment products or claim to be regulated.
Building a friendship with you to lull you into a false sense of security.
Tempting returns that sound too good to be true… probably are.
Beware of unsolicited calls offering ‘free’ pension reviews or access to your pension before age 55, pressure to act quickly or promises of unreasonably high returns.
During the heightened investment activity from January to March, exercise extra caution as scammers often exploit the increased interest by launching fake promotions, impersonating legitimate entities, and employing high-pressure tactics.
Scammers usually cold call, but contact can also come by email, post or word of mouth. If you’ve been offered an investment out of the blue, chances are it’s a high-risk investment or a scam.
Use the FCA Warning List to check the risks of a potential investment – you can also search to see if the firm is known to be operating without our authorisation. To check, go to: www.fca.org.uk/scamsmart
Get impartial advice before investing. Don’t use an adviser from the firm that contacted you.
Never reveal your passwords or reset them at the request of someone who’s contacted you. If asked by an unsolicited email, always check the sender’s address.
Suspect a scam? Call Action Fraud: 0300 123 2040 or the Financial Conduct Authority: 0800 111 6768
For more information about this campaign, and to access the wealth of resources and information on how to spot and report a scam, go to the FCA website.
Black MondayOn 19 October 1987, the stock markets experienced a dramatic plunge that prompted many firms to shut down their trading desks and turn off their phones to minimize internal losses. Raymond James refused to do the same. Our desks stayed open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983. |
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Who was Raymond James?The Raymond in our name is actually from Edward Raymond, owner of a 15-employee mutual fund sales group, Raymond and Associates, along Florida’s west coast. He sold his company to Bob James on 15 July 1964, on condition that the surviving firm be called Raymond, James & Associates. Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident and never joined the firm. Nonetheless, even after Raymond had passed away, Bob James insisted that his name remain on the door – ahead of James’ own. That was a promise he made to Ed Raymond three days before the accident, and Bob James was a man who kept his promises. |
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Bear market of 1974The severe bear market of 1974 threatened the existence of Raymond James, which was bleeding capital by the day. Tom James, his father and other leaders took extreme measures to keep the firm afloat, slashing costs, forgoing pay checks and even attempting to sell the firm for just enough capital to protect client assets and retain as many associates as possible. The story could have ended very differently if not for a sharp upturn and continued rebound in the stock markets late in the year. |
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Taking Raymond James PublicWhen consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time). ” … the public offering should be considered as a statement of our independence. While this is a psychological rather than an economic rationale, it is nonetheless very important. We have asserted for some time that we are not interested in becoming a small part of a very large corporation. That assertion results mainly from the inclinations of management rather than the economic benefits associated with either alternative. The public stock offering affords us the opportunity to enjoy a little bit of the best of both worlds. While shareholders will be given liquidity at fair market value, we will still have the ability to control our own destiny.” After 40+ years of Tom’s leadership, upon becoming CEO, Paul Reilly was often questioned about whether the company might ultimately surrender its cherished independence and be acquired by some larger entity. His response: “Not while I’m around.” It’s a theme that continues today. |
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