Beware Capital Management, warns FSB

Cape Town – The Financial Services Board (FSB) warned investors on Monday to exercise caution with Capital Management Private Wealth, which “promises clients a 25% daily return on their investments”.

The FSB warned the public against conducting financial services business with Capital Management, because it uses the same FSB number as Courtney Capital Management, a registered service provider.

The FSB said “Capital Management is not associated or linked to” this registered company “and is therefore not authorised to use the FSP number 43057”.

“Capital Management is not an authorised Financial Service Provider and the public is warned to exercise caution when dealing with this entity,” the FSB said.

An internet search of Capital Management shows the company only conducts business through a Facebook page and gives its details as:

Capital Management Pty Ltd | 2008/015963/07
Authorised Financial Services Provider | FSP nr 43057
Derivatives Member of the JSE | Member code CCBM
Facebook page : capitalmanagement
Sms :Join to 0783941461.
Office line : 011-050-7280

Both the website link and landline number are faulty, while the cellphone number goes to voicemail.

The FSB said consumers who wish to conduct financial services with an institution or person should check with the FSB on its toll free number (0800110 443) or on the website as to whether or not such institution or person is authorised to render financial services.