Check four things: (1) named FCA-regulated client case studies, (2) understanding of Consumer Duty and financial promotions, (3) offline-conversion tracking fluency, (4) willingness to be paid on pipeline not just form-fills. If any of the four is missing, walk away.
The four-point test 1. **Regulated-sector experience:** ask for named adviser clients with results. 2. **Compliance fluency:** ask them to explain Section 21, Consumer Duty outcomes, COBS 4. 3. **Tracking sophistication:** ask how they will connect form-fills to clients won. 4. **Incentive alignment:** push for pipeline-weighted or outcome-based pricing.
Red flags - Generic "performance marketing" agency with zero regulated clients. - Promises of guaranteed CPL or leads in week 1. - No named compliance framework. - Push to own your ad accounts (you should always own them). - Unclear on who owns data and lead consent.
Green flags - Named case studies with published metrics. - Dedicated compliance or adviser-network partnerships. - Offline-conversion tracking built into kick-off. - Transparent reporting into your CRM.