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The Financial Sector Conduct Authority (FSCA) is warning the public against My Wealth Method, the FSCA is currently investigating the activities of My Wealth Method, Registration No. K2014/001085/07. The purpose of the investigation is to establish whether the business activities of My Wealth Method is in breach of any financial sector law.
The FSCA advises that My Wealth Method is not authorised to render any financial advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services
My Wealth Method is also not registered as a bank in terms of the Banks Act No. 94 of 1990. Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide.
The FSCA reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll-free number (0800 110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services, and in particular which financial products they are licensed for.
The investigation is ongoing.