Has anyone heard of ISACO?

minikez7

If anyone has heard of ISACO please can you let me know? I would like to know anything about this company.

Thank you!

fwor

The .co.uk one? Looks like a website selling get-rich-quick guides to me.

Why the interest - do you work for them?

minikez7

My friend is applying for a job with them, but I have never heard of them before.

Onawingandaprayer

Very dodgy outfit. Get employees to publicise them by posting questions on moneysaving forums. Avoid.

turbobob

They imply that they give investment advice, but are not FSA authorised.

Reaper

turbobob wrote: »

They imply that they give investment advice, but are not FSA authorised.

They claim to have applied for FSA authorisation. However the crooks running Cameron Farely (unrelated company I hasten to add) applied/reapplied for FSA authorisation so they could tell their investors it was in progress despite the fact they did not have a hope in hell of ever getting approved. After that lesson I would suggest people stick to companies that are already authorised, not those where it is "in progress" - particularly as in this case they said they applied over a year ago (June 2009).

Skim reading I think the idea is you cough up £1500pa then the guy running it will tell you what he is buying & selling so you can copy him.

You would have to have enourmous faith in the guy running it to pay him all that money rather than the much cheaper option of putting your cash with a selction of funds and letting them make the decisions for a fraction of the cost.

From what little I have looked at it does not apear to be a scam, but quite possibly an over-hyped over-priced get rich quick scheme.

dunstonh

They claim to have applied for FSA authorisation.

Many of the dodgy schemes that have failed over the years have said the same. They use terms like "pending FSA authorisation" or similar but legally you cannot trade until you have it and most of the time they have not applied or stand no chance of getting authorised as the activities they do are dodgy and unregulated.

Often with these schemes, the only people they catch and can prosecute are the sales people. The "owners" tend to be behind multiple companies, based overseas and difficult to trace or prosecute due to border issues.

Simple rule of thumb. If they are not FSA authorised, then they are not able to give investment advice. Pending authorisation or applied for authorisation has no such legal status. You either have it or you dont.

Paulbs

ISACO Ltd is authorised and regulated by the Financial Services Authority. FSA Register No. 525147.

For the delay the premium clients recieved 3 month free service.

Hope that helps to clear that up for you

Your friend

Paul

dunstonh

Paulbs wrote: »

ISACO Ltd is authorised and regulated by the Financial Services Authority. FSA Register No. 525147.

For the delay the premium clients recieved 3 month free service.

Hope that helps to clear that up for you

Your friend

Paul

This thread started in august 2010. yet you only become authorised on 25th may 2011. I'm sorry but it is vital that you have trust in the financial services companies you deal with. To be trading without FSA authorisation on the basis of it being "pending" is dodgy enough. For it to take over 9 months to get authorised suggests other unknown issues as it doesn't take that long normally.

ftse100ppt

Its a scam. I know because I was duped by them. Basically the book is a heavy sales pitch for the companies investment services that cost £8000 or more up front. They will give you no proof of any success but make out that they can get you returns of 15-20% per year or more for little risk.

The author of the book actually advised his clients to stay in the market throughout the whole crash in 2008 - describing the market as healthy!! The loss during that year was over 50% - meaning clients would have to make 100% gains just to break even.

I lost a fortune following this idiot.

gadgetmind

ftse100ppt wrote: »

I lost a fortune following this idiot.

As the chap probably made lots of money, it's perhaps more accurate to call him a crook rather than an idiot.