FCA registered independent financial advisers

Why Your Financial Adviser Has to Be FCA Approved



Posted on: 11th August 2021

When working with money you will be faced with many decisions that need to be addressed and made. The struggle is not just on decisions to do with your future, but also on the important decisions around finding the right fit for a financial adviser also. To ensure you have the right fit for an adviser suitable for the task at hand, you should look for FCA registered independent financial advisers (Financial Conduct Authority).


The Financial Conduct Authority (herein referred to as the FCA) is the regulatory body for the UK that ensure that financial service providers act within the confines of the law when providing their service, advice and guidance.

It is recommended that anytime you seek advice on your finances, you use someone who is an FCA member. This ensures that you are not left in any vulnerable position from any bad advice provided that greatly affects your financial situation.

The Risk of Unregulated Advice

Of the many reasons you need to be secure when getting financial advice from an adviser, your main reasons for ensuring you have an FCA approved adviser are paramount.

To be a member of the FCA, the advisers require certain credentials that prove they are a registered legal entity and have the necessary systems in place to protect their clients. FCA approved advisers provide you with cover for yourself and your business through their practices which safeguard you from harm.

The FCA operates on a ‘Treating Customers Fairly’ initiative that all members are tied to following. By outlining how an adviser communicates with clients in fairness and transparency, you are provided with a guarantee of financial guidance that is driven by best intentions with no ulterior motive. If the adviser is not approved, then you run a considerable risk if the information, guidance and recommended products are not within your best interests.

The only way to know that your financial adviser’s guidance and knowledge is 100% reliable and safeguarded is to use an FCA approved member. Members have to have certain qualifications and provide the best quality advice. In using an unapproved adviser, you will never know if what you are being presented is approved and, most importantly, you will not be covered against the risk involved.

Trusting in the Right People

There is an old saying that goes “You wouldn’t let a butcher cut your hair”, or you probably would not let a taxi driver fly you in a helicopter. It is the same when it comes to approved and unapproved financial advice.

When it comes to your financial future you would not risk everything on someone unqualified to point you in the right directions and provide you with insight.  If you are wanting sound financial security on everything from pension advice Manchester to retirement planning Cheshire, contact the team at Haven IFA today, your FCA registered independent financial advisers.