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Fraudsters are impersonating Financial Planners. Here’s how to stay safe

As Cybersecurity Awareness Month brings online safety into focus, it is a timely reminder that financial scams are becoming increasingly sophisticated.

Criminals are no longer just sending generic phishing emails; they are increasingly impersonating trusted professionals, including financial planners and wealth managers.

Fraudsters may contact individuals pretending to be their financial planner, using email, text messages and WhatsApp. In some cases, the usual warning signs may not be obvious. A message might be well written, name a genuine investment provider, refer to familiar products such as ISAs or SIPPs, and appear to offer legitimate investment advice.

That is why it is important to pause and consider whether the communication fits with the way your adviser would normally work with you.

What does this type of scam look like? 

Fraudsters may:

  • Send an email that appears to come from your planner.
  • Create email addresses that look very similar to legitimate business addresses.
  • Contact you via WhatsApp claiming to be from a new number.
  • Ask for urgent payments or bank transfers.
  • Request personal or financial information.
  • Encourage you to click links or open attachments.
  • Present what looks like investment advice, including projected returns, charges and product information. More often than not, it includes unrealistic returns.
  • Make an offer sound credible by referencing known investment firms or listed funds.
  • Impersonate authorised firms by using genuine-looking websites, branding or contact details, including clone firm details that look almost identical to the real firm.
  • Describe an opportunity as exclusive, time-limited or just for you, or ask you to keep it confidential.
  • Try to build trust by sounding authoritative, knowledgeable or overly friendly, or by using flattery, worry or excitement to influence your decision.

Their aim is often to gain access to money, personal information or online accounts.

10 warning signs to watch for 

1. Fraudsters want you to act quickly before you have time to think. 

Examples include:

  • “This needs to be actioned today.”
  • “Please transfer funds immediately.”
  • “We need your confirmation urgently.”

2. You’re asked to use a new contact method 

Be cautious if someone claiming to be your Financial Planner suddenly asks you to communicate via WhatsApp or a different email address.

3. Bank details have changed 

Always verify any changes to payment instructions with your planner through trusted communication methods.

4. Something doesn’t feel right 

Trust your instincts. If a message feels unusual, stop and check.

5. You receive unexpected investment advice 

Be cautious if you receive unexpected investment advice, especially if it does not relate to a recent conversation, review or agreed advice process with your planner.

6. The advice feels generic 

A genuine recommendation should be based on your personal circumstances, goals, attitude to risk and wider financial plan. Be wary of advice that feels general, could apply to almost anyone, or does not seem to be based on what your planner knows about you.

7. Returns are presented too positively 

Treat projected returns with care, especially where they appear unusually high, rely heavily on past performance, or make an investment sound low risk without clearly explaining the possibility of loss.

8. The offer is described as exclusive, secret or just for you 

Be cautious if you are told not to discuss the opportunity with anyone else, or if it is presented as a special, limited or confidential offer.

9. The person sounds convincing or claims authority 

Fraudsters may appear knowledgeable, refer to regulation or authorisation, and use professional language to build confidence. Do not rely on how convincing the message sounds; verify the firm and contact details independently.

10. You cannot verify the firm independently 

Check the FCA Firm Checker and make sure the firm’s reference number and contact details match. Go to the FCA website yourself rather than using links in emails, messages or third-party websites.

Attivo will never: 

  • Ask you to share passwords or security credentials.
  • Request payments via WhatsApp.
  • Ask you to transfer money without appropriate verification.
  • Pressure you into making an immediate financial decision.
  • Ask for sensitive information through social media messaging platforms.

What to do if you’re unsure 

If you receive a communication claiming to be from Attivo and are unsure whether it is genuine:

  • Do not click any links.
  • Do not transfer any money.
  • Contact your planner .
  • Contact Attivo directly.

A genuine member of the Attivo team will always be happy for you to verify a request.

Think you’ve been targeted? 

If you believe you’ve responded to a fraudulent communication:

  • Contact your bank immediately.
  • Contact your financial planner or Attivo directly.
  • Change the passwords for any accounts that may have been affected, including your email account.
  • Report the incident to Action Fraud – https://www.reportfraud.police.uk.
  • Report any suspected unauthorised firm, clone firm or scam approach to the FCA – https://www.fca.org.uk/contact.

Stay vigilant 

A moment spent checking could prevent significant financial loss.

If something doesn’t feel right, stop, check and verify before taking action.

Concerned about a message you’ve received? Contact your Attivo Financial Planner or our Attivo Client Services team on 01242 585444.