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

'Don't think of consolidation as the end of independent advice. It isn't'

'Don't think of consolidation as the end of independent advice. It isn't'

Continuity before everything else

Tom Rowe-Jones
clock 02 September 2026 • 5 min read
SENDA calls on profession to share how it supports families with disabilities

SENDA calls on profession to share how it supports families with disabilities

Part of white paper launching in November

Isabel Baxter
clock 02 September 2026 • 2 min read
Plannex memberships boosted by 'out of the blue' Reddit influx

Plannex memberships boosted by 'out of the blue' Reddit influx

Without spending a penny on the social media platform

Isabel Baxter
clock 01 September 2026 • 5 min read