How to check an advisor isn't just pushing one insurer's product

Many people discover too late that their financial advisor was tied to one insurer's product range. They end up paying more than necessary, locked into poor value cover, or holding policies that don't suit their actual needs. The advisor had no incentive to shop around because their commission came from that one provider. You can avoid this trap by asking direct questions and checking verifiable facts before you hand over money or sign anything.

The clearest indicator of bias is whether an advisor is independent or tied. These aren't informal labels—they're legal distinctions that shape what they can recommend. An independent advisor can source from the entire market. A tied advisor is contracted to recommend products from one insurer, or sometimes a small panel. Some are so-called multi-tied advisors, linked to several providers but not all. This matters because tied advisors often can't legally claim to be independent, yet the difference isn't always obvious when you're sitting across a desk or reading an email.

Start by asking the advisor directly: "Are you independent, and can you show me your registration proof?" They should give you a clear answer and evidence. In South Africa, financial advisors are regulated by the Financial Sector Conduct Authority (FSCA). Ask for their FSCA registration number and verify it on the FSCA's registry yourself. If they hesitate or can't produce it, that's a red flag. An independent advisor with nothing to hide will hand over this detail without friction.

Next, request their Conflicts of Interest statement or their Key Information Document. These are required by law and must disclose who they're tied to, or whether they're independent. If they fumble this—say they don't have one ready or it's vague—push back. A professional advisor working at scale will have these on file. The document should list which insurers they have relationships with and what remuneration they receive from each. This tells you whether they're earning the same commission from product A as product B, or whether one pays significantly more.

Proof in the paperwork

When an advisor recommends a policy, ask them to show you comparison quotes from at least two other insurers. If they can't, ask why. An independent advisor who's confident in their recommendation will usually be willing to lay out the alternative options and explain why their choice is better value. They might cite price, benefits, terms, or claims-handling reputation—but they should be able to articulate the trade-off. If their answer is "this is the best product on the market" without evidence, they're selling, not advising.

Request references from at least two existing clients. Phone them directly and ask: "Did the advisor recommend products from multiple insurers, or just one?" and "Did they explain what they were earning from the recommendation?" Real clients will give you texture. They'll tell you whether the advisor pushed them into cover they didn't need or helped them avoid it. They'll say whether they felt the advisor was working for them or for the insurer.

Check the advisor's track record on reviews or through professional bodies. If they're a member of the Financial Planning Institute (FPI) or hold similar credentials, visit those websites and search their name. These bodies have codes of conduct and complaints processes. An advisor with a clean history there has been vetted. Read any reviews carefully—look for patterns, not one-off gripes.

Finally, if an advisor is paid on commission (which is common), ask them to disclose exactly what they earn if you take their recommendation. This can be a percentage of your premium or a flat fee. Knowing this doesn't make them dishonest, but it does help you judge whether the recommendation might be influenced by payout. Some advisors now charge fees separately from commission, or don't take commission at all. That's worth asking about too.

You don't need to become an insurance expert to spot bias. You just need to ask for proof, check it independently, and listen to what an advisor does and doesn't offer to show you. Strove's verified advisors provide all of this information upfront—it's part of how they're vetted on the platform.