Disclaimer: Our website and publications aim to give you general information to help you make financial decisions. It is not advice, nor can it take account of your own particular circumstances. For advice with a view to making decisions about your own circumstances you should consult a financial or other professional adviser.

© The Financial Services Authority.

Getting financial advice

When you're shopping around for a financial product, it's important to know who's offering what and what will suit your needs best. There are two ways of finding this out. You can:

  • gather information (available from, for example, banks, building societies, adverts or online); or
  • get financial advice from an adviser.

When you gather information it's 'off the shelf' and is the same for everyone – so your personal circumstances are not looked at.

Financial advice is when a professional adviser assesses your personal circumstances and recommends financial products that are suitable for you. The adviser will then give you a recommendation in writing.

Firms that give financial advice on certain products in the UK have to be regulated by us, or be the agent of a regulated firm. Regulated firms and their agents are placed on our Register and have to meet certain standards. Always make sure that the firm you use is on our Register and is allowed to give financial advice before handing over your money. If they aren’t regulated by us and things go wrong, you may not have access to complaints and compensation procedures. To find out if a firm is on our Register, see Check our Register.

We set standards for how firms should give you financial advice for most types of:

  • insurance
  • mortgages; and
  • investments – such as personal pensions.

This section sets out what financial advice is, when you might need it and where to get it from. For more detailed information and tips on how to prepare yourself when seeing an adviser, get a free copy of our Getting financial advice printed guide. You can download or order it online – see Publications.

Firms not based in the UK

We may also regulate, to a limited extent, firms from the EEA (European Economic Area) if they are operating in the UK. However, if you are considering or currently doing business with a firm authorised in another EEA state, you may wish ask for further information from the firm or its UK branch about its complaints and compensation arrangements. This is because the position may differ compared to a UK authorised firm. EEA firms will also be able to provide you with details of the extent of their regulation by us in the UK.

Step 1: Take stock

Are you planning to take out a mortgage, start saving for a pension, or buy another financial product? Do you need financial advice to find out which product might suit you? Find out whether you need financial advice and what service you can expect to get.

Go to step 1 >

Step 2: Take action

Find out where you can get advice.

Go to step 2 >