24 January 2023

Magnitude Financial Group offering unrealistically high returns

We are concerned that Magnitude Financial Group is operating a scam via their websites magnitudefinancialgroup.co.nz and magnitudefinancial-nz.co.

The following behaviors are what concerns us about this entity:

  • Promising unrealistically high returns that have not been substantiated.
  • Claims to offer stockbroking, wealth management and fixed interest investments, including some purportedly provided by SBS Bank and Westpac. SBS Bank and Westpac have advised they are not associated with this entity.

Magnitude Financial Group is not a registered financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents.

We recommend caution if dealing with this entity.

 

Website: magnitudefinancialgroup.co.nz and magnitudefinancial-nz.co
Address: PwC Tower, Level 38/15 Customs Street West, Auckland CBD and 52 Martin Place, Sydney NSW 2000
Email: [email protected] 
Phone: +64 9 884-0949

 

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