Regulation is the single most important thing to check before engaging a financial adviser. A regulated adviser is accountable to a recognised authority, must meet professional standards, and gives you access to complaints and compensation processes if something goes wrong. An unregulated adviser offers none of these protections. This guide explains how to verify an adviser's regulatory status.
Why regulation matters
Financial advice is a regulated activity in most countries for good reason. Bad advice can destroy wealth, and without regulation, you have little recourse. A regulated adviser:
- Must meet qualification and professional standards set by the regulator
- Is subject to ongoing supervision and must follow conduct rules
- Must treat customers fairly and provide suitable advice
- Gives you access to an independent complaints process
- May be covered by a compensation scheme if the firm fails
An unregulated adviser is accountable to no one. If the advice turns out to be poor, your options are limited to expensive private legal action — which may be worthless if the adviser has no assets or has disappeared.
How to check the regulatory register
The process is similar across most jurisdictions: find the regulator's online register, search for the firm or individual, and verify their permissions.
United Kingdom — FCA
The FCA Register is the authoritative source for UK financial regulation. Search by firm name, individual name, or reference number. Check what permissions the firm holds — not all authorised firms can advise on all products. For pension transfer advice, look specifically for "pension transfer" permissions.
Ireland — Central Bank of Ireland
Check the Central Bank of Ireland registers for authorised firms and individuals.
UAE (Dubai) — DFSA
The DFSA register lists authorised firms in the Dubai International Financial Centre. For the wider UAE, check the Securities and Commodities Authority (SCA).
Spain — CNMV
The CNMV register lists authorised investment services firms in Spain.
Australia — ASIC
Use ASIC Connect to search for licensed financial services firms and individuals.
Singapore — MAS
The MAS Financial Institutions Directory lists licensed financial advisers in Singapore.
Check the legal entity, not just the individual
Advisers often trade under a brand name that differs from the legal entity that holds the regulatory permission. Check the register for the legal entity, not just the trading name. An individual may be listed on the register, but if their firm is not authorised, you may not have the protection you expect.
Ask for:
- The full legal name of the authorised firm
- The firm's regulatory reference number
- The name of the individual adviser and their individual reference number
Verify both the firm and the individual independently on the register.
Permissions may differ
Being regulated does not mean an adviser can advise on everything. Regulatory permissions are specific. A firm may be authorised to provide investment advice but not pension transfer advice. A firm may be authorised to advise UK residents but not residents of other countries.
When you check the register, look at what the firm is actually permitted to do. If the advice you are receiving is not covered by their permissions, you are not protected.
Different jurisdictions
If you are receiving advice across borders, the regulatory position may be more complex. An adviser may be regulated in one country but providing advice to you in another. In some cases, this is perfectly legitimate — the adviser may hold permissions in both jurisdictions. In other cases, it may not be.
Ask the adviser to explain their regulatory position in both your home country and your destination country. If they cannot give a clear answer, seek advice elsewhere.
What to do when unsure
If you are not confident about an adviser's regulatory status:
- Do not proceed until you have verified it independently
- Ask the adviser to explain their permissions in writing
- Contact the regulator directly if you have questions — most regulators have public enquiry channels
- If in any doubt, do not invest
There is no rush that justifies taking advice from an unregulated source. The consequences of bad advice can follow you for years.
How Link Independent can help
Link Independent only works with advisers who are regulated in the appropriate jurisdictions. We carry out due diligence on advisers before including them in our network, and we can help you understand what to look for. Find an adviser or read more about how to find a financial adviser abroad.
This guide is for educational purposes only. Regulatory registers are updated regularly — always check the current position directly with the relevant regulator.