Before paying for financial advice or investing through a new provider, it is reasonable to ask who is authorised to provide the service and who will hold your money. South Africa’s Financial Sector Conduct Authority (FSCA) provides public searches for regulated financial service providers.

Start with the official FSCA register

Visit the FSCA’s Authorised Financial Services Providers search rather than relying on a screenshot or a number printed in an advertisement. The FSCA search allows you to enter an FSP number or a partial business name. Match the business identity and registration status against the service being offered.

Ask these questions before proceeding

  • What is your registered legal entity name and FSP number?
  • Which products and services are you authorised to advise on or provide?
  • Are you acting as a representative of a licensed firm? If so, which firm?
  • What fees, commissions and other incentives do you receive?
  • Where will my money be held and how can I withdraw or close the account?
  • What are the main risks, exclusions and circumstances in which I could lose money?

A genuine licence is not a guarantee of investment returns

Registration is one important check, but it is not proof that a particular product is suitable for you or that returns are guaranteed. Be sceptical of time-limited pressure, secrecy, promises of exceptionally high returns without risk, or requests to pay into a private personal account. Ask for written product documents and independent time to consider them.

If the adviser is not on the register

Do not assume a firm is authorised simply because its branding looks professional. Check spelling, trading names and the legal entity name. If you cannot confirm the relevant authorisation, contact the FSCA using contact details independently obtained from its official website before committing money.

A practical verification scenario

Someone messages you about an investment, shows you an FSP number and says you must pay by Friday to secure a high return. Before paying, open the official FSCA search yourself. Enter the business name or number, check that the legal entity is the one dealing with you, and ask how the individual is linked to that entity. If the names, contact details or authorised services do not match, pause and ask the FSCA or the institution through an independently obtained number.

  • Confirm the provider or adviser identity and FSP number using official sources.
  • Ask which financial products and services the authorisation covers.
  • Request a written explanation of fees, commissions, risks and withdrawal rules.
  • Verify where funds will be held and avoid transferring money to unrelated personal accounts.
  • Treat guaranteed high returns and urgent pressure as warning signs, even when someone presents a number.

What a register search can and cannot tell you

Registration is one screening step, not an endorsement of an investment or a prediction of returns. A valid entity may still sell products with material risks and fees; an individual may act for a firm rather than holding a separate licence. Check both the legal entity and the relationship to the person offering the product.

Start with the official FSCA authorised-provider search: https://www.fsca.co.za/FSB-Search/.

Official sources and related reading

FSCA Regulated People and Entities — https://www.fsca.co.za/Regulated-People-And-Entities/

FSCA Authorised FSP Search — https://www.fsca.co.za/FSB-Search/

Further reading: How to Start Investing in South Africa — investing-for-beginners-south-africa.html.