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Compliance

What FCA rules apply to financial adviser advertising?

Last reviewed 22 April 2026 · Reviewed by Jake McQuillan

Quick answer

What FCA rules apply to financial adviser advertising?

Financial promotions must be fair, clear and not misleading (FCA COBS 4 and the Financial Promotions Regime). All regulated-activity adverts must be approved by an authorised person, carry risk warnings where relevant, and comply with Consumer Duty outcomes.

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Core rules

  • Fair, clear, not misleading: every claim must be substantiated.
  • Approved promotions: regulated financial promotions must be signed off by an FCA-authorised approver.
  • Consumer Duty: four outcomes (products, price & value, understanding, support) apply to all retail marketing.
  • Risk warnings: investment and pension ads usually need capital-at-risk wording and past-performance caveats.
  • Vulnerability: target audiences must be considered, especially older demographics.

Practical implications

  1. Every ad creative, landing page and lead magnet needs a compliance reviewer in the workflow.
  2. Social-media posts from advisers are treated as financial promotions.
  3. Testimonials and performance claims are heavily restricted.
  4. Cold-calling on pensions remains banned; email outreach must comply with PECR/GDPR.

Reference

FCA Handbook: https://www.handbook.fca.org.uk/handbook/COBS/4/

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JM
Reviewed by
Jake McQuillan
Founder at Platinum Prospects
Last reviewed 22 April 2026

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