Employers can stop people falling for fake financial advice

Every day, employees are bombarded with financial advice online.

TikTok videos promise quick profits.

AI tools offer investment tips.

It’s not always easy to know what to trust.

Many of these suggestions are unregulated or misleading.

Following them can be costly and leave people feeling anxious or unsure.

Last year alone, over £612 million was lost to investment fraud, with around 9 million people falling victim to bogus investments or pension scams.

No wonder employees can feel overwhelmed.

Workshops and long webinars often feel abstract.

They can be full of jargon and disconnected from everyday life.

Social media, by contrast, delivers quick, attention-grabbing advice.

The challenge isn’t finding information.

It’s knowing what to trust and how it applies to real life.

Employees want guidance that is practical, easy to understand and relevant to their circumstances.

Start by choosing FCA-approved advisers or approachable financial coaches.

Interactive sessions that bust myths and use real-life examples help employees feel supported rather than judged.

These sessions can be reinforced with personalised modules through tools like moneyappi, giving staff guidance tailored to their needs and life stage.

This approach helps employees feel more confident and in control of their finances.

Financial needs change over time, so learning should too.

Early-career employees often need support with budgeting, saving and understanding pension plans.

Mid-career staff may focus on investing wisely and managing risk.

Those nearing retirement need guidance on drawdown strategies and tax efficiency.

Short videos, infographics, and podcasts make this information easier to digest.

And personalised tools can help staff engage with content that’s most relevant to them.

Digital literacy matters.

Employees should check who is giving advice, whether they’re regulated and if there’s any hidden motive.

Turning these rules into a simple three-question check can help staff build good habits:

• Who is providing the advice?
• Are they regulated?
• What might be their hidden motive?

Financial education shouldn’t be a one-off.

Embedding it into onboarding, internal communications and workplace apps helps normalise money conversations and break down stigma.

Peer champions can share tips, signpost resources and encourage colleagues to ask questions.

Making learning ongoing, accessible and supported by peers helps staff feel confident and supported every day.

Employees who feel confident about money are more likely to engage with pensions, savings schemes and other benefits.

They worry less, focus better, and feel supported.

For organisations, clear, trusted financial education boosts participation, satisfaction and retention.

Personalised guidance through tools like moneyappi ensures every employee gets practical advice that empowers them to make informed decisions.

Fake financial advice isn’t going away, but employers can help staff navigate it safely.

By prioritising clear, trustworthy education and ongoing support, organisations can give employees the confidence to protect their finances and make smart decisions.

Supporting staff in this way helps create a workplace culture of financial wellbeing and resilience.