Posted on: 11th October 2018
A new function has recently been added to the FCA register. Find-An-Adviser, allows consumers to search for the nearest financial adviser to them. To find the nearest adviser, all they must do is enter a postcode. From there, the nearest selection of advisers will appear.
How the FCA Filters Advisers
If a firm is yet to be authorised, it will be flagged in red. What’s more, it will be accompanied by a note that reads: “We strongly suggest you avoid dealing with this firm”. These firms will come with necessary information such as direct email and telephone contact details. They will also come with a list of firm reference numbers and addresses.
When looking at these advisers, you will be able to see details listings of appointed representatives and introducers. If any of these firms are part of parent companies, you shall also be able to see any information about that.
What are Introducers?
The FCA defines introducers as written in the following statement:
It says: “This is a firm that can introduce customers to another firm or members of the firm’s group, and/or give out certain kinds of marketing material.”
Yard Stick Agency founder, Phil Bray, also commented on the introduction of the new search function on the register: “This is a welcome change to the register, which hopefully will be supported by a publicity campaign to increase consumer awareness. If it can help to match consumers with the right advice firm that has to be a good thing.”
Jonathan Davidson, executive director at FCA retail and authorisations supervision, had said its launch would “make sure customers can interact confidently with financial services professionals by setting clear standards.”
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