Nest egg advice con

SAVERS are being duped into putting their savings into dodgy investments by advisers they trust.

The City watchdog has warned that financial advisers are letting unregulated firms recommend investments to their customers.

People were even persuaded to take their life savings out of a safe workplace pension scheme and put them into risky investments.

Now the regulator is cracking down on advisers who are passing clients to third parties unregulated in Britain.

The Financial Conduct Authority is taking action against several firms and warns advisers they are responsible for customers even if they outsource the work to another firm.