An Appointed Representative Works Under Another Firm's Authorisation
The FCA describes an appointed representative as a firm that carries on regulated activity under the responsibility of an authorised firm, known as its principal. Many independent advisers and smaller financial businesses work in this way, often as members of a larger adviser network.
The principal is responsible for making sure that the appointed representative is fit and proper and follows the FCA's rules, and it takes responsibility for the regulated work it has agreed the representative may carry out.
A Genuine Adviser May Quote the Principal's Reference Number
An appointed representative has its own entry on the FCA Register, but its letters and website often show the principal's Firm Reference Number, because the principal is the authorised firm. A reference number that belongs to a different firm is therefore not, on its own, a sign of fraud.
Clone firms rely on the same feature when they quote a genuine firm's details. The difference is that a genuine appointment is recorded on the Register, and anyone can confirm the relationship there.
Confirm the Appointment on the Register
Search the FCA Register for the name of the firm that contacted you. Its entry should show the status of appointed representative, name the principal firm and show that the appointment is current rather than ended. The principal's own entry lists the appointed representatives it is responsible for, so the relationship can be checked from both sides.
If the appointment has ended, or the principal does not list the firm, the firm cannot rely on that principal's authorisation.
Compare the Contact Details With the Register
Many appointed representatives have no website recorded on the Register, so the contact details you were given deserve particular care. Compare the telephone number and email address with those the Register shows for the representative and for the principal.
If there is any doubt, call the principal on the number the Register lists and ask whether the adviser works under its authorisation.
Check the Account Before You Pay
In an advised investment, money is normally paid to the platform or product provider that will hold the investment, and the adviser's fee is agreed separately. Before transferring money, use your bank's Confirmation of Payee check to confirm that the account is held in the exact name of the firm you expect to pay.
A complaint about the regulated work of an appointed representative is made to the principal firm, and can then be referred to the Financial Ombudsman Service.
How MetaAshes Examines This
A MetaAshes assessment cross-references a firm's details against the official record in a single pass. For this question, the most relevant checks include:
- Authorisation status
- Firm Reference Number validity
- Ownership of the reference number
- Scope of regulatory permissions
- Official website on record
- Official telephone number on record
- Email domain consistency
- Authenticity of representatives
- FCA Warning List screening
- Payee name verification
Frequently Asked
What is an appointed representative?
It is a firm that carries on regulated activity under the responsibility of an FCA-authorised firm, known as its principal. The relationship is recorded on the FCA Register.
Why does my adviser's paperwork show another firm's FCA number?
An appointed representative often quotes its principal's Firm Reference Number. Search the FCA Register to confirm that the adviser is a current appointed representative of that principal.
Can MetaAshes check an appointed representative?
Yes. An assessment confirms the appointment on the FCA Register and compares the contact and payment details you were given with the representative's own record.
This guide is provided for general information and does not constitute financial or legal advice.