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Jersey IFA investigated for selling Providence Investment Funds

Jersey’s financial services regulator has launched an investigation into the sale of the Providence Investment Funds to clients of Jersey-based independent financial adviser firm Lumiere Wealth.

Jersey IFA investigated for selling Providence Investment Funds


In 2015 Lumiere Wealth (London) was launched in the UK, the same year as the Jersey company was established.

The Providence Group website also stated plans to launch Lumiere Wealth (MENA) “soon” in Dubai.

Providence Group, a financial services and trading global group with 28 offices worldwide, was launched in the US in 2004 by Brazilian lawyer Antonio Buzaneli, specialising in secured business lending primarily in the US, Brazil and Asia.

In December 2014, Providence bought Guernsey based Fund Corporation to establish a new headquarters on the Channel Island. Following the acquisition, Providence rebranded Fund Corporation as Lumiere Fund Services which provides outsourcing fund administration services for asset and investment managers as a division of the wider group.

Providence Investment Funds PPC was set up in Guernsey in 2012.

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