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

Friday Night Takeaway: It's the return of the banks

Friday Night Takeaway: It's the return of the banks

The news editor's Friday Night Takeaway from 10 July

Isabel Baxter
clock 10 July 2026 • 3 min read
Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

PFS president and chair joins Professional Adviser in the studio

Professional Adviser
clock 10 July 2026 • 1 min read
FCA spotlights vulnerability in latest Consumer Duty review

FCA spotlights vulnerability in latest Consumer Duty review

Treatment of vulnerable clients still an area of improvement for firms

Sophia Panayi
clock 10 July 2026 • 2 min read