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FSB warns against illegitimate tracing agent

Personal Finance

The Financial Services Board (FSB) says you should act with caution when dealing with an illegitimate tracing agent by the name of Alicia Solomons. Solomons is not authorised in terms of the Financial Advisory and Intermediary Services (FAIS) Act to render financial advice and intermediary services.

According to the FSB, Solomons is purporting to act for a company named JD Marble Funeral Directors, an authorised financial services provider, with FSP number 46807. This company has confirmed that Solomons is not an authorised intermediary under its FSP number.

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Solomons offers to assist people trace unclaimed pension or provident fund benefits that may be due to them, and requests a fee for this service. You should act with caution when dealing with anyone claiming to be a tracing agent for a retirement fund. Only the retirement fund, the administrators and legitimate tracing agents have access to the records of the fund, and anyone claiming to have access to a database of unclaimed benefits is not being truthful, the FSB says.

If you are unsure whether a tracing agent, or any financial services provider, for that matter, is legitimate, you need to check with the FSB on either its toll free number (0800 110 443) or on its website, www.fsb.co.za.

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