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Wednesday, June 29, 2022

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FSCA warns against Nkuna Wealth Group

Published May 23, 2022

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The Financial Sector Conduct Authority (FSCA) warns you to be cautious when doing any financial services business with the Nkuna Wealth Group, run by a certain Remember “Thomas” Nkuna.

The entity advertises on social media that it is an “investment group company ... offering flexible investment products”, and that it is registered as a financial service provider with the FSCA, using the FSP number 34142.

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The FSCA says this entity is not authorised to provide financial advisory and intermediary services in South Africa. The FSP number 34142 belongs to Laurium Capital. Laurium Capital has confirmed that it has no relationship with Nkuna Wealth Group or with Mr Nkuna.

You should always ensure that an entity or individual is registered with the FSCA to provide financial advisory and intermediary services. You also need to check the category of advice that the entity is registered to provide.

You can check with the FSCA on either the toll-free number (0800 110 443) or here.

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