FSA warns of Savoy Investment Management clone

The Financial Services Authority has warned investors against dealing with a firm which is cold calling consumers claiming to be Savoy Investment Management and using the names of real members of staff.

It said the firm is an unauthorised clone and added it had been using some of the names of existing Savoy Investment Management employees, including Nick Duffy, Bill Fowler and Peter Cooper.

The real company, which is part of Ashcourt Rowan, offers discretionary investment management and advisory investment services to private clients, charities and trustees.

It said members of the public had been receiving unsolicited telephone calls persuading them to invest in a number of small-cap companies.

"Please note that Savoy Investment Management does not undertake unsolicited cold calling," it added.

"If you receive an unsolicited call, please terminate immediately and contact us on the numbers noted on this site."