“Get Rich Quick”? The FCA Says Not So Fast

If you’ve ever seen someone on social media promising fast money, luxury holidays, and financial freedom — all from a bit of investing know-how — you’re not alone. These “finfluencers” are everywhere. But behind the big claims and polished videos, things aren’t always what they seem.

That’s why the Financial Conduct Authority (FCA) has taken the lead on a global effort to shut down illegal financial promotions made through social media — and the scale of it is eye-opening.

What’s Going On?

Earlier this month, the FCA joined forces with regulators from eight other countries — including Australia, Canada, Italy and Hong Kong — in a global week of action against rogue online influencers. The goal? To protect people from being misled by unregulated financial advice.

Here in the UK, that action included:

• 3 arrests
• Criminal proceedings against 3 people
• 4 finfluencers invited for interview
• 7 cease and desist letters
• 50 warning alerts, leading to over 650 social media take-down requests and the removal of more than 50 unauthorised websites

Steve Smart from the FCA summed it up simply:

 “Finfluencers must act responsibly and only promote financial products where they are authorised to do so – or face the consequences.”

What Is a Finfluencer, Anyway?

Finfluencers are people who talk about money, investing, or finance on social media. Some of them are helpful, honest, and well-informed. But others? Not so much.

There’s a growing number of influencers who promote financial schemes without being regulated or qualified — and sometimes without being entirely truthful. Think Lamborghinis, private jets, and dramatic claims about turning £500 into £50,000. It’s all designed to create urgency and fear of missing out. But in many cases, the only person getting richer is the one posting the video.

Why This Matters

At Chesterton House, we know how important it is to make financial decisions you can feel confident about — not just now, but for the long term.

Social media has made financial information more accessible, but it’s also made it easier for bad actors to operate under the radar. And when things go wrong, the consequences can be serious: lost savings, broken trust, and long delays in getting justice.

That’s why we fully support this international effort to raise the bar.

Because financial planning isn’t about hype. It’s not about overnight success or chasing trends. It’s about having a plan that reflects your values, your goals, and your life — and walking that journey with the right guidance and support.

What You Can Do

If you come across someone promoting a financial product online, here are three quick things to ask yourself:

✅ Are they authorised to give financial advice?
You can check on the FCA’s Warning List

✅ Are they giving genuine, thoughtful guidance — or selling a fantasy?

✅ Is this advice tailored to me and my circumstances, or just a one-size-fits-all shortcut?

And if you’re ever unsure, speak to someone you trust. We’re always here for a friendly, honest chat — no jargon, no pressure.

Want advice you can rely on?

We don’t do quick wins or empty promises. We help people build a plan that fits their life — and stick with them as that life evolves.

If you’d like to talk about your goals, your future, or simply want a second opinion on something you’ve seen online, we’re here to help.

Get in touch to speak with our highly qualified team — no jargon, no pressure, just clear guidance.