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Check an adviser: the free vetting toolkit

We don't recommend advisers, match you with firms, or sell your details. This page does something better: it teaches you to verify any adviser yourself, using the FCA's own public register — the way the regulator intends.

Part 1 — Verify on the FCA Register

The FCA Register is the official, free, public record of every firm and individual authorised to carry out regulated financial activities in the UK. Five minutes here is the most important due diligence you will ever do. For each firm:

  1. Search the firm name at register.fca.org.uk — or better, search the Firm Reference Number (FRN) the firm gives you; names can be similar, FRNs are unique.
  2. Check the status says "Authorised" (or "Appointed representative" of an authorised principal — in which case check the principal too). Lapsed, cancelled or "no longer authorised" means walk away.
  3. Open the permissions section and confirm it covers what you need — e.g. "advising on investments", "advising on regulated mortgage contracts", or for DB transfers, "advising on pension transfers and opt-outs".
  4. Use the contact details on the Register, not the ones you were given. Clone-firm scams impersonate real authorised firms with swapped phone numbers and emails. Ring the Register's number to confirm you're dealing with the real firm.
  5. Check the individual too — advisers appear in the Register's directory of certified and assessed persons, showing what they're qualified to do and any regulatory history.
  6. Look at disciplinary history — public actions against the firm appear on its Register record.

Why this matters so much

The Financial Ombudsman Service and the FSCS — the two safety nets that can get your money back when things go wrong — generally only apply when you deal with an authorised firm acting within its permissions. Skip the Register and you may be skipping the safety nets.

Part 2 — The first-meeting question sheet

Most advisers offer a free first meeting. You're interviewing them. Ask all of these and note the answers:

  • "Are you independent or restricted?" Restricted isn't disqualifying — but they must tell you, and you should understand exactly how.
  • "What are your qualifications?" Level 4 Diploma is the regulatory minimum; Chartered / Certified Financial Planner status indicates further study.
  • "What will my first year cost, in pounds?" Not percentages. Pounds, in writing, covering initial and ongoing charges. (Convert any percentage with our fee impact calculator.)
  • "What exactly does ongoing service include, and can I decline it?"
  • "What's the total cost including platform and fund charges?" Firms must be able to show aggregated costs.
  • "Who is your typical client?" You want a firm whose normal client resembles you.
  • "How are you paid on protection and mortgage business?" Commission still exists there and must be disclosed.

Part 3 — Red flags that end the conversation

  • Cold contact about your pension. Pension cold-calling is illegal in the UK. The call itself is the red flag.
  • Urgency. "This closes Friday" is a sales tactic, not a plan. Regulated advice processes are deliberately slow.
  • Guarantees. "Guaranteed 12%", "no-risk growth", returns that beat the market every year — no.
  • Vague fees. Refusal to put costs in writing as cash amounts.
  • Moving money early. Any request to transfer funds before a written suitability report is issued.
  • Payment oddities. Personal accounts, overseas accounts, cryptocurrency, or a payee name that doesn't match the Register entry.
  • Unregulated "introductions". An authorised adviser steering you to unregulated investments (overseas property, forestry, storage pods, crypto schemes) — the wrapper of authorisation does not extend FSCS protection to unregulated products.

Part 4 — If something has already gone wrong

  1. Complain to the firm first — in writing. Authorised firms must have a complaints process and respond within set timescales.
  2. Escalate to the Financial Ombudsman Service — free, independent, and able to order compensation — if the response is unsatisfactory or late.
  3. If the firm has failed, check the FSCS for compensation eligibility.
  4. If you suspect a scam, report to Action Fraud and the FCA's consumer helpline — and warn your bank immediately if money has moved.

Background reading: how financial advice works, how to find an adviser you can trust, and what advice costs.

About this toolkit: general education from an independent publisher. We are not the FCA, not an FCA-authorised firm, and not connected to any adviser. We never receive payment from firms you might choose, and we never see who you contact. Nothing here is regulated advice or a recommendation of any firm.