Delegates at the The Personal Finance Society were told today that they can help identify potential scams by scouring press, web and telephone promotions.

The PFS is teaming up with the FCA on its national ScamSmart campaign and PFS chief executive Keith Richards said it is a "key responsibility on the advice profession".

Watch our video with Mr Richards below.

The Personal Finance Society has published this 4-step commitment for personal finance professionals:

1. Raise awareness of scams and their typical warning signs amongst clients and professional networks
2. Commit 15 minutes a month to help identify potential scams by scouring press, web and telephone promotions
3. Regularly check and refer clients to the FCA warning list of recently unearthed scams
4. Report suspected scams to the FCA at www.fca.org.uk/consumers/report-scam-unauthorised-firm

Keith Richards discusses scam campaign pic.twitter.com/gaLPqskMJz

— FP Today Magazine (@FPTodayMagazine) November 24, 2016

The Society launched the initiative to members at its penultimate 2016 National Symposium today, when more than 800 delegates converged on Wembley Stadium.

Mr Richards said a low interest rate environment, coupled with far reaching pension reforms, had left many consumers vulnerable to a raft of “too good to be true” investment scams. He said the profession had a key role to play in protecting the vulnerable, which may include our own clients, family and friends.

“A growing number of people are losing thousands of pounds each week to scammers that are becoming more and more sophisticated,” he said.

“Personal finance professionals are better placed to spot scams quicker than unsuspecting members of the public and as a profession we have a vested interest in contributing to the wider effort of helping protect consumers.”

“We need to mobilise as a united profession to help the authorities stamp out this scourge by identifying and reporting potential scams via the FCA’s ScamSmart website.”

Last month the Society signed a petition, urging the Government to ban cold calling for pensions and investments. The petition was instigated by PFS member and Red Circle Financial Planning director Darren Cooke, and is only 2,000 signatures short of the 10,000 required by 21 March, in order for the Government to formally respond.

A consultation on banning pensions cold calling was unveiled as part of Thursday’s Autumn Statement.

Mr Richards said: “The Government, regulators and financial advice professionals have a responsibility to act in the interests of consumers by seeking out and eliminating the unscrupulous behavior of cold callers, scammers and fraudsters. After all, many of these scammers purport to be a part of the advice profession.”