UK Innovative Financial Designs (UKIFD) chief executive Iain Stamp has travelled to Italy to make a presentation on currency trading and life settlements to the Association of Financial Family Officers (AIFO) conference, despite complaints over UK investments with similar underlying assets he was involved in.
UKIFD has been marketing the planned Managed Accounts (Forex) to IFAs. The accounts will be managed by regulated business Independent Portfolio Managers.
As head of Integrity Financial Solutions, Stamp previously marketed the Integrity Managed Currency Growth accounts, which gave clients exposure to a foreign exchange trading platform.
When the accounts started to make losses, advisers complained the presentations they were shown did not resemble the products they were sold.
The FSA recently censured Integrity over a separate product.