DEAR DEIDRE: MY mum wants to set up a trust fund for me and my two sisters but I’m worried we might be being scammed.
She is 87. Her financial adviser has asked for very sensitive information from me, but not my sisters.
He wants to know my income, my savings, my National Insurance number and details of any other monies I may have.
Apparently, he only wants my information as I am the youngest child.
I am 53, my sisters are 55 and 58. But this seems unusual to me.
I’ve phoned the financial adviser to ask why he needs these details but only got as far as his secretary who was very short with me. What should I do? I don’t want to worry Mum.
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DEIDRE SAYS: If the fund is taxable, the Government would need details including your national insurance number, passport number and address.
Although it doesn’t make sense that they only need your details and not your sisters’.
Make sure your mum’s financial adviser is registered by the Financial Conduct Authority.
Have a look at fca.org.uk, where you will find the financial services register.
If he is not registered it would be better to find someone who is.
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