How to check a financial adviser is the real thing

By Argyll Graham, 2 November 2026

Once your name starts appearing on team sheets, you will start hearing from people who want to help with your money. Some will be excellent. Some will be well meaning but unqualified. A few will be scammers who target athletes precisely because they know young players can come into money quickly.

The good news is that checking who you are dealing with takes about five minutes, and it is worth doing every single time.

Why it matters

In the UK, firms that give investment advice or manage investments need to be authorised by the Financial Conduct Authority (FCA). Authorisation means the firm has to meet standards on how it treats clients, holds money and handles complaints. If something goes wrong with an authorised firm, you may also be able to complain to the Financial Ombudsman Service. Deal with an unauthorised firm and those protections usually do not apply.

Step 1: look them up on the FCA's Firm Checker

The FCA's Firm Checker, also known as the Financial Services Register, is free and public on the FCA website. Search for the firm by name or reference number and check three things:

that the firm is listed as authorised, not just registered or no longer authorised
that it has permission for the specific thing it is offering you, such as advising on investments
that the person you are speaking to is listed against that firm, where individuals are shown

Step 2: watch out for clone firms

A common scam is to copy a genuine, authorised firm: same name, a convincing website, even a real reference number. The giveaway is usually the contact details. Only use the phone number, email address and website shown on the Firm Checker, not the ones in the email or message you were sent. If they don't match, or the firm says the register is out of date, treat that as a warning sign.

Step 3: check the Warning List

The FCA also publishes a Warning List of firms and individuals known to be operating without authorisation, including clones. Search it for the firm's name and any website it has used. A firm that isn't on the Warning List isn't automatically safe, but one that is should be avoided completely.

Step 4: if in doubt, call the FCA

If you can't find the firm, or something doesn't add up, the FCA's consumer helpline is 0800 111 6768. It costs nothing to ask, and the people who answer deal with these questions every day.

Red flags to walk away from

Pressure to decide quickly, or an offer that is "only available today"
Promises of high returns with little or no risk
Requests to transfer money to a personal account or an account in someone else's name
Contact out of the blue, especially through social media or a team-mate's recommendation you can't verify
Reluctance to put anything in writing

Make it a habit

It can feel awkward to check up on someone, especially if a friend or someone at the club introduced them. A genuine professional will expect it and won't mind. Make the five-minute check a rule for everyone who wants to look after your money, and share it with your family, who are often approached too.

This article is general information only and is not financial, tax or legal advice. It does not take account of your personal circumstances. Speak to a suitably qualified and authorised professional before making financial decisions.

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