The dangers posed by unlicensed investment gurus

Unscrupulous people are taking advantage of the rising demand for investment products.

Recent cases include estate planning trusts being marketed as investments with guaranteed returns, and insurance endowments being marketed using unauthorised illustrations and misleading returns projections, created without the knowledge of the life insurer.Online broker RakutenTrade has warned the public not to fall for investment scams misusing the company’s name and falsely claiming to represent it.

Unlicensed investment gurus giving questionable investment advice can lead to poor financial decisions and losses. These “gurus” paint a pretty picture of all the potential benefits for an investor if they join their investment club with bulk-purchase discounts, fantastic passive income from rents, amazing capital growth and being able to unlock equity from a property.

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