Choosing a financial or mortgage adviser: checks before a first meeting

Choosing someone to advise you about your finances or mortgage is a significant step, and it is sensible to check a few things before sharing your details or booking a meeting. The right checks help you avoid unregulated firms, understand how the adviser works, and spot any early warning signs.

Check authorisation on the Financial Services Register

In the UK, any business or individual giving regulated financial advice must be authorised by the Financial Conduct Authority (FCA), or be an appointed representative of an authorised firm. The FCA’s Financial Services Register is free and public—you can search by the name of the firm or adviser.

• The register shows whether a firm or individual is currently authorised, whether they are an appointed representative, and which permissions they hold. You will also see their reference number and contact details, which should match what you have been given.
• If a business is not on the register, or their details do not match, do not proceed. You may not be protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong.
• Appointed representatives act on behalf of authorised firms. Their details should appear on the register as linked to their principal firm. If you are dealing with an appointed representative, you can check both them and the principal firm.
• Some advisers may use trading names. The register lists trading names under the firm entry—check that the name you have matches one of these.

You can find separate categories for financial advisers and mortgage advisers on Annuvell Local, and check each adviser’s stated details against the register before making contact.

Independent or restricted: understand the scope of advice

You should always ask whether the advice you will receive is independent or restricted. This affects the range of products and providers the adviser can recommend.

• Independent financial advisers are able to recommend products from the whole market, not limited to a set panel. They are required to consider all suitable options for your needs.
• Restricted advisers can only recommend certain products, providers, or types of advice. Some may be tied to a single provider or a limited group. This does not necessarily mean the advice is unsuitable, but you should understand what is (and is not) covered.
• In mortgage advice, ask if the adviser covers the whole mortgage market or only a panel of lenders. Some only have access to a limited range, while others can search most or all of the market on your behalf.
• Ask how the adviser’s status could affect the recommendations you receive. A clear explanation is a good sign that the adviser is open about their approach.

Annuvell Local shows what each business has stated about their services, but these points are worth confirming directly before your meeting.

Clarify how charges work and what is included

Before you share personal details or book a meeting, ask about the adviser’s charges and what the initial meeting will cover. Charges for financial and mortgage advice can vary widely and may include initial and ongoing costs.

• Ask whether the first meeting is free or chargeable, and what will be covered. Many advisers offer a free initial session to discuss your needs, but this is not universal.
• Find out how the adviser charges for their services: is it a fixed fee, an hourly rate, a percentage of assets, or a commission from a provider? Each structure has pros and cons, and clarity up front helps you avoid surprises.
• Ask if there are ongoing fees after the initial advice, for example for regular reviews or portfolio management. Get a clear explanation of what is included in both the initial and ongoing service.
• Request a copy of the adviser’s charging structure or fee schedule in writing. A reputable adviser will provide this on request.
• For mortgage advisers, ask whether they receive commission from lenders and whether this affects the recommendations they make. Some may also charge you a fee in addition to receiving commission.

You can use Annuvell Local’s compare tool to see what facts each business has published about charges, but always confirm details directly before you agree to go ahead.

Ask about qualifications and professional bodies

Professional qualifications and memberships are markers of an adviser’s commitment and expertise, though these alone are not a guarantee of quality.

• Ask what qualifications the adviser holds. In the UK, financial advisers must have at least a Level 4 qualification in financial advice (such as the Diploma for Financial Advisers, DipFA), while mortgage advisers must have a recognised qualification like CeMAP.
• Find out if they are members of professional bodies such as the Personal Finance Society, Chartered Insurance Institute, or Chartered Institute for Securities & Investment. Membership often involves commitments to ongoing training and a code of conduct.
• If the adviser claims to be chartered or certified, ask what this means and which organisation awarded it. You can check most professional memberships online.
• Be wary if an adviser is vague about their qualifications or refuses to provide details. Most are happy to talk about their background and experience.

Qualifications and memberships may be listed on an adviser’s profile on Annuvell Local. If not, ask directly before you proceed.

Know the main warning signs

There are some clear warning signs that a firm or individual may not be genuine, or may not have your interests at heart. If you encounter any of these, step back immediately and do further checks before sharing any personal or financial information.

• Unsolicited contact: Genuine advisers do not cold-call, text or email you out of the blue. Treat any unsolicited approach with caution, especially if you are asked for personal details straight away.
• Pressure to act quickly: Be wary of anyone urging you to make a quick decision, sign up immediately, or transfer money before you have had time to consider the offer.
• Guaranteed returns: No reputable adviser will promise returns on investments or mortgages. Be sceptical of claims that seem too good to be true.
• Request to transfer money to an individual: You should never be asked to send money to a personal bank account. Payments should go to the firm’s business account, which should match the details on the Financial Services Register.
• If you have doubts about a business website, see How to recognise suspicious business websites for further checks.

Trust your instincts: if anything feels off, do not proceed until you have double-checked the adviser’s credentials.

Compare advisers’ published information

Comparing advisers before your first meeting helps you get a sense of how each one presents their services, what they specialise in, and how transparent they are about charges and qualifications.

• On Annuvell Local, you can see checked contact details for each adviser, including whether a phone number has been verified and whether the website is currently reachable.
• Use the compare tool to look at side-by-side facts, such as what each adviser has published about their services, fee structures, and qualifications. Each fact is labelled according to its source, so you know what has been verified from the business’s published information and what is stated by the business.
• The Verified badge means the business has completed an ownership check with Annuvell Local. Featured placements are labelled and do not affect the order of results.
• Requesting quotes or information from multiple advisers lets you compare replies and get a sense of their approach before committing to anything.

You can sort search results by distance from your location or postcode, making it easier to find advisers who are local to you.

Next steps

Find advisers near you by searching financial advisers or mortgage advisers on Annuvell Local. Write down the names and contact details of any you are interested in, then check each one on the Financial Services Register before your first meeting. If anything does not match or you spot a warning sign, move on to another adviser. Only share your personal information once you are satisfied with your checks.