Financial Conduct Authority (FCA) Related Scam

We have recently been made aware of a wealth management related scam whereby fraudsters purporting
to be from the Financial Conduct Authority (FCA), or law enforcement, are targeting clients of
investment management firms, ‘advising’ them that a specific Investment Manager or firm is under
investigation.

We are bringing this to your attention even though this has not happened at Cartlidge Morland, as it has
affected others. As part of this scam, the fraudster specifically asks the client not to speak to their
Investment Manager or friends and family as this would be considered ‘tipping off’. The client is then
advised to encash their portfolio and to move the cash to the client’s bank account. Once this is done, the
fraudster then ‘recommends’ an investment which is a scam.

I would like to take this opportunity to remind you to be extra vigilant if you receive any unexpected
communications from third parties relating to your relationship with Cartlidge Morland. We ask that if you
do receive any suspicious instructions, please contact your Cartlidge Morland consultant to check their
legitimacy.

What to look out for?

• Scams often start by the fraudster hacking into an email account and tracking email exchanges.
Please keep your email security measures up to date.

• Scams often use fake email addresses and websites. Look out for words misspelt, or email
addresses and names you are unfamiliar with.

• A scam email will often ask you to do things, in secret and/or quickly.

If in doubt, check the FCA warning list – this will help you check an investment or pension opportunity
and avoid scams. You can also find more advice at www.fca.org.uk/scamsmart.

If you think you may have been a victim of fraud, please report it to the police as soon as possible. The
sooner you report the fraud, the greater the chance of containing any damage. If you believe the fraud
involves your investments, please contact your Cartlidge Morland consultant immediately. If the fraud
involves debit or credit cards, online banking, or cheques, please contact your bank or credit card company
as soon as possible.

Please remain vigilant at all times.

Nicola McConville
Finance & Operations Partner

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