The Financial Conduct Authority (FCA) has added ironwoodcapitalalliance.com to its warning list, stating that the firm is not authorised by the regulator and may be targeting people in the United Kingdom. The FCA said the firm may be providing or promoting financial services or products without its permission, and advised consumers to avoid dealing with it and to beware of scams.
The notice lists an address of 11 Grace Avenue, STE 108, Great Neck, New York, United States of America, 11021, and a telephone number of +7027064466. The same address and telephone number were published by the FCA twenty minutes later in a separate warning against my.sterlingreservewealth.info.
The regulator noted that almost all firms and individuals must be authorised or registered by the FCA to carry out or promote financial services in the UK.
What the warning means for consumers
Consumers who deal with the firm will not have access to the Financial Ombudsman Service if they wish to complain, and will not be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. The FCA said this means it is unlikely that money would be recovered if the firm goes out of business.
The FCA also cautioned that some firms give incorrect contact details, including postal addresses, telephone numbers and email addresses, and may change them over time. Such firms may also supply details belonging to another business or individual so the information appears genuine.
Consumers who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator (PSR).
The FCA advised consumers to deal only with firms it authorises, and to use the FCA Firm Checker to confirm that a firm is authorised and holds permission for the services being offered. Anyone contacted unexpectedly by a financial business should reply using the contact details listed on the Firm Checker. Those who believe they have been approached by an unauthorised firm can call the FCA on 0800 111 6768 or use its contact form.
