If you asked most people whether financial advice is regulated, they’d probably say yes.
And they’d be partly right, but only partly.
The truth is that some of the most important financial conversations in your life, including inheritance tax planning, trusts, and business succession, can be offered by almost anyone.
Trust firms aren’t regulated.
Many advisers are restricted.
And plenty of firms promoting “IHT planning” are neither independent nor chartered.
It means you can be sold a plan long before you’ve had the right conversation.
When someone talks confidently about inheritance tax, it’s easy to assume they’re qualified, authorised, or acting in your best interests.
But the UK financial system doesn’t always make those lines clear.
Financial advice on investments and pensions is regulated by the Financial Conduct Authority (FCA).
However, services like estate planning, tax mitigation, and will structuring often sit outside that framework.
So, an unregulated firm can:
Offer “advice” on trusts and IHT,
Charge you for it,
And never disclose that they’re not authorised to give proper investment advice.
That’s why so many adverts you see online are allowed to “fish” for enquiries without telling you whether the firm is restricted, independent, or even regulated.
An independent adviser is free to recommend any product or solution from the whole of the market, not just their firm’s range.
A chartered adviser has demonstrated the highest level of professional competence and ethical standards.
Combine the two, and you have someone who not only knows what they’re talking about but is also accountable for the consequences of their advice.
That accountability is what’s missing in most financial sales models.
Imagine your best friend was an inheritance tax specialist.
You’d ask questions freely.
You’d know the answers were honest.
You wouldn’t feel embarrassed to say, “I don’t understand.”
That’s the thinking behind Evoa, our intelligent assistant built to help you talk about money in a calm, private, and independent space.
You can ask Evoa about inheritance tax, pensions, business sales, or retirement, and receive independent, educational guidance before you commit to anything.
It’s like having a best friend in finance, one who knows when to listen and when to help you think clearly.
If you’re about to engage someone for inheritance tax planning, ask three questions:
Are you independent or restricted?
Are you chartered?
Are you regulated by the FCA?
If the answer to any of those is “no,” pause before proceeding.
Because your financial future deserves better than unqualified sales talk.
Financial wellness begins with clarity, not products, promises, or plans.
That’s what The Wealth Coach stands for, and it’s why Evoa exists.
If you’d like to explore these issues in confidence, start a conversation with Evoa at www.thewealth.coach.
Nic Round is a Chartered Financial Planner and Chartered Wealth Manager, authorised and regulated by the Financial Conduct Authority.