Investors Beware: Investment Group Imposter Scams on the Rise
Scammers continue to find new ways to exploit trust. One of the fastest-growing threats today involves investment group imposter scams, where fraudsters pose as legitimate financial firms or advisors to lure investors into fake opportunities.
FINRA recently warned investors about these schemes, noting that scammers often use well-known firm names, logos or advisor credentials to appear credible. Their goal is simple: Convince people to send money before they realize something is wrong. According to FINRA, these scams are spreading through social media, text messages and encrypted messaging apps such as WhatsApp or Telegram.
How these scams typically work
Investment group imposter scams often follow a familiar pattern:
- You receive an unsolicited message inviting you to join a private investment group or “exclusive” opportunity.
- The group claims to be affiliated with a recognizable financial firm or advisor.
- Conversations move quickly to private or encrypted platforms.
- The group promises unusually consistent or high returns and pressures participants to act fast.
- Requests for money may involve wire transfers, crypto or unfamiliar payment methods.
FINRA stresses that legitimate registered firms do not operate this way, and neither do fiduciary advisors, like Savant Wealth Management, who are required to act in clients’ best interests.
What Savant would never do
As a wealth management firm, Savant uses a secure and confidential process to communicate with clients about their accounts.
Our firm, including our leadership and employees, would never:
- Contact you out of the blue through “off-channel” communications, such as social media, text messages, or messaging apps, with investment offers
- Invite you to join a private investment group or chat room
- Ask you to send money to a third party or unfamiliar account
- Pressure you to act quickly on an “exclusive” or time-limited opportunity
Any communication from Savant follows established, secure channels, and investment recommendations occur within the context of a documented advisory relationship. If someone claims to represent our firm and does not follow these practices, it should raise a red flag.
How to protect yourself
FINRA encourages investors to take a few simple steps to reduce the risk of falling victim to impersonation scams:
- Be skeptical of unsolicited investment offers, no matter how professional they appear
- Verify the identity of any advisor or firm using FINRA’s BrokerCheck tool
- Independently confirm contact information using official websites or statements
- Pause before sending money and ask questions if something feels off
The Federal Trade Commission and FINRA both report that pressure and urgency are common tactics used by fraudsters to override good judgment.
Avoid scams: Be prepared
If you receive a message or invitation that claims to be associated with Savant but does not come from a secure, established channel, we encourage you to contact us directly using the phone number or email listed on our official website, where you will also see language that explains we do not solicit or provide advisory services via off-channel communications, such as WhatsApp, Signal, Telegram, or other sites.
You can report suspected scams to FINRA, the SEC, and, if applicable, the social media company used by the potential scammers to contact you. Reporting helps regulators and others identify patterns and warn other investors.
Our commitment to clients
As a fiduciary firm, protecting our clients’ financial well-being extends beyond portfolio management. It includes helping you recognize risks, avoid fraud and feel confident about who you trust with your wealth.
Scammers rely on confusion and silence. Clear communication and education remain some of the strongest defenses.