Should advisers offer a scam 'sense check' service?

Expertise applied ad-hoc for a fixed fee

Laura Miller
clock

One adviser in Devon is urging anyone who is contacted by potential scammers to call him before they part with any money. Is this a new service advisers can offer a likely grateful public?

Philip Milton, managing director of Philip J Milton & Company, an independent wealth manager in Barnstable, has issued an oft repeated but too frequently ignored warning to investors - it is not just the elderly or vulnerable who are susceptible to financial fraud, you are too. "The perpetrators of this type of fraud are especially cunning and use a number of psychological tricks to warm the prospective victim and then gradually entice them deeper into their web with ever more attractive - and plausible - suggestions," he said.   Too good to be true Milton gives an example that w...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

AJ Bell adds MPS range to Mabel Insights platform

AJ Bell adds MPS range to Mabel Insights platform

AJ Bell: ‘The Mabel Insights platform provides advisers with a wealth of information’

Sahar Nazir
clock 11 February 2025 • 1 min read
Quilter CEO: 'It's really tough to be a platform'

Quilter CEO: 'It's really tough to be a platform'

‘We can’t build a platform that is for every single adviser’

Sahar Nazir
clock 10 February 2025 • 1 min read
M&A process a 'disturbing event' for IFAs

M&A process a 'disturbing event' for IFAs

‘Acquisitions have emotional toll on everyone involved'

Sahar Nazir
clock 10 February 2025 • 6 min read