Scammers target one in ten over 50s

"It’s not of huge concern to me as these incidences are pretty rare overall and most clients are vigilant enough to deal through an FCA regulated financial adviser – I think this is key to protecting clients. On top of the regulatory and ongoing suitability requirements, from time to time, we also write to our existing clients to let them know about common scams.

"But the benefit of having regular client reviews, and being easily reachable by clients through phone or e-mail is that they’ll usually bring up any 'investment opportunities' that have cropped up so they can get a professional second opinion about them. Hence, we’ll help them weed out the unsuitable, dodgy investments or outright scams at an early stage."