UK Fintech: Ultimate PPC Agency Vetting Framework

Finding a good PPC agency in the UK is hard enough. Finding one that genuinely understands fintech is a different league of difficult. Most agencies will tell you they can do it, flash a few generic case studies, and talk a good game about "driving ROI". But fintech isn't like selling shoes or software. You're dealing with FCA regulations, deep-seated customer trust issues, and sales cycles that can stretch for months. A generalist agency will treat your budget like a learning experience, and you'll be the one paying for their education.

The truth is, most fintech founders I speak to are asking the wrong questions. You're getting bogged down in platform tactics and vanity metrics when the real problem lies in strategy, compliance, and commercial understanding. You don't just need a campaign manager; you need a strategic partner who can navigate the minefield of financial promotions and translate complex value propositions into ads that actually convert. Let's cut through the noise. Here is the framework I use to distinguish the real specialists from the pretenders.

Why does the standard agency vetting process fail for Fintech?

You’ve probably got a checklist. Does the agency have good reviews? Do their case studies look impressive? Do you like the person on the sales call? This is fine for an eCommerce brand, but for a UK fintech, it's dangerously insufficient. Here's why the usual approach will lead you to the wrong partner.

First, there's the compliance brick wall. The Financial Conduct Authority (FCA) doesn't mess about. The rules around financial promotions are complex and constantly evolving. A generic agency might be brilliant at writing snappy ad copy, but do they know what constitutes a "balanced" view for an investment product? Do they understand the specific disclosure requirements for a lending product under CONC 3? I've seen accounts get suspended for weeks because a well-meaning but ignorant agency used words like "guaranteed" or failed to include the right risk warnings. Getting ads live is one thing, keeping them live is another. You need someone who has experience getting fintech ads through the brutal approval processes on platforms like Google and Meta, not someone who's going to learn on your dime.

Second, is the audience misunderstanding. Fintech isn't one industry; it's dozens of them. The way you target a CFO for a B2B payments platform is completely different to how you find retail investors for a new wealthtech app. A generalist sees "finance" and defaults to broad targeting like "people interested in investing". A specialist knows to layer that with behavioural data, specific job titles on LinkedIn for B2B, or even target users of competitor apps. We ran a campaign for a B2B software client and achieved a $22 cost-per-lead targeting specific decision-makers on LinkedIn. That's not a result you stumble upon with broad targeting; it comes from a deep understanding of who the buyer is and where they spend their time online.

Finally, there's the measurement black hole. Most agencies are obsessed with last-click attribution and 30-day ROAS. That model completely breaks down for many fintech products. If you're selling a B2B solution with a 6-month sales cycle, how does a 30-day report help you? Your agency needs to understand multi-touch attribution, lead scoring, and how to measure success when the conversion event happens months after the first click. They should be asking you about your sales cycle and CRM data, not just what they can see in the Google Ads dashboard.

Choosing the wrong agency isn't just a waste of ad spend; it's a strategic setback that can cost you months of growth and potentially land you in regulatory hot water. You have to go deeper.

So how do you actually find an agency that gets it?

Forget the glossy credentials and the smooth sales pitch. You need to test their actual, practical knowledge of your world. This means shifting your focus from what they've done to *how* they think and *what* they'll do for you. It's about finding a partner who will challenge your assumptions, not just execute your orders.

The first step is to arm yourself with the right numbers. Before you even speak to an agency, you need to understand your own unit economics. The most critical calculation is your Customer Lifetime Value (LTV) and what that allows you to spend on Customer Acquisition Cost (CAC). Any agency worth their salt will ask you for this. If they don't, it's a massive red flag. It shows they're focused on spending your budget, not on growing your business profitably. This is non-negotiable.

Once you have this number, you can start having intelligent conversations. The focus shifts from "how cheap can we get leads?" to "how can we profitably acquire customers who are worth £10,000 to us?". This single change in perspective is what separates high-growth fintechs from the ones that stall. It informs everything, from which channels you use to the offers you make. It's the foundation of a real paid acquisition strategy, not just a series of ad campaigns.

The Four-Stage Vetting Funnel for UK Fintech Agencies

Think of finding the right agency like a conversion funnel. You start with a wide pool of potential partners and qualify them at each stage until you're left with the one that's a perfect fit. Here's how to structure your process.

Stage 1: The Compliance & Experience Filter

This is where you eliminate the majority of contenders. Don't ask "Have you worked in fintech?". It's a closed question and the answer is always "yes". Instead, ask open-ended questions that force them to reveal their real level of experience.

• -> "Walk me through a campaign you ran for a UK-based lending company. What were the biggest compliance hurdles you had to clear with Google's ad policies, and how did you do it?"
• -> "We're launching a new investment feature. Can you describe the kind of risk warnings and disclaimers we'd need to include in our Meta ads to be compliant with FCA financial promotion rules?"
• -> "Show me a case study for a company with a similar customer to ours (e.g., B2B SaaS targeting CFOs, or a B2C app targeting millennials). What was the cost per qualified lead, not just the cost per click?"

Their answers will tell you everything. A generalist will give you vague, textbook responses. A specialist will talk about specific policy numbers, the nuances of 'clear, fair, and not misleading', and the back-and-forth they've had with ad platform support teams. They'll have war stories. Listen for those. If they can't show you concrete examples of navigating the UK's specific regulatory environment, they are not the right fit. This is the single most important filter, and it's why a guide on vetting a UK fintech PPC agency is so critical.

Stage 2: The Strategic Depth Test

An agency that passes the compliance test might still just be a good executor, not a strategic partner. You need to test their business acumen. This is where your LTV:CAC calculation comes into play.

On the call, you should be the one to bring it up first. "Based on our LTV of £10,000, we believe we can afford a CAC of around £3,300. How does that change the way you'd approach our strategy compared to a company that can only afford a £300 CAC?"

A great agency's eyes will light up. They'll start talking about:

• -> Channel Prioritisation: "With that kind of allowable CAC, we can be much more aggressive on higher-intent but more expensive channels like Google Search for bottom-of-funnel keywords. We can also afford to test LinkedIn for hyper-targeting senior decision-makers, which might have a £200 CPL but converts at a much higher rate." They should be able to discuss the top advertising channels that are actually working for London-based fintechs, not just a generic list.
• -> Offer & Funnel Strategy: "Your 'Request a Demo' call-to-action is high friction. For a £3,300 allowable CAC, we should test a lower-friction offer, like a free, automated financial health check tool or a valuable industry report. We can run ads to that, capture the lead, and nurture them through email. The goal is to build trust before we ask for the meeting."
• -> Audience Definition: They'll move beyond demographics. "Okay, you sell to CFOs. But what's the specific nightmare that keeps them up at night? Is it the fear of a compliance breach during an audit? Is it wasting hours on manual reconciliation? Our ad copy needs to speak directly to that pain, not just their job title."

If all they say is "Great, that gives us more budget to test with," they've failed the test. You're looking for someone who sees your budget as a strategic lever, not just fuel for their campaigns. This is often the biggest difference between hiring an agency and building an in-house team, which has its own cost implications.

Stage 3: The Process & Team Review

You've found an agency that seems to have the right expertise and strategic mindset. Now you need to look under the bonnet. The person who impressed you on the sales call is often not the person who will be managing your account day-to-day. You need to insist on meeting the actual person or team who will be in your account.

Ask them directly:

• -> "Who will be my day-to-day contact and who will be building and optimising the campaigns? Can I speak with them?"
• -> "What's your process for communication? Do we get a weekly email, a monthly call, a shared Slack channel?"
• -> "Can you show me an example of a monthly report you provide to clients? I want to see how you measure success beyond just ROAS and CPL."

Look for clarity, transparency, and a process that fits your own company's culture. A slick dashboard is nice, but it's useless without insightful commentary that explains the 'why' behind the numbers. In a city like London, you'll find everything from huge network agencies where you might be a small fish, to specialised boutiques. Understanding the team structure is a key part of choosing from the many ad agencies in London.

Stage 4: The Commercial & Fit Proposal

This is the final step. The agency should come back to you with a detailed proposal. This document should feel less like a quote and more like the first chapter of your growth strategy. It should summarise their understanding of your business, your customer, your challenges, and outline a clear 90-day plan.

Critically evaluate their pricing model. The most common are:

• -> Percentage of Ad Spend: Simple, but can incentivise them to just spend more, not better.
• -> Flat Retainer: Predictable, and common for strategic work. Ensure the scope of work is clearly defined.
• -> Performance-Based: Sounds great, but can be tricky for fintech with long sales cycles. Be very clear on how conversions will be tracked and attributed.

There's no single "best" model, but it needs to feel fair and aligned with your goals. The proposal, combined with the conversations you've had, should give you a clear feeling of whether this is a vendor or a partner. Do you trust them? Do you feel like they are genuinely invested in your success? A comprehensive vetting framework helps you make this final decision with confidence, ensuring you have a complete paid acquisition playbook.

The Red Flags: When to Walk Away Immediately

Sometimes, the clearest signals are the ones telling you to run. During your vetting process, if you encounter any of the following, it's best to end the conversation and move on. These are not minor issues; they are indicators of a fundamental misalignment or lack of expertise that will cost you dearly down the line.

1. They Guarantee Results. This is the oldest trick in the book and the biggest red flag. No one can guarantee results in paid advertising. There are too many variables: market changes, competitor actions, platform algorithm updates, and the quality of your own website and offer. An agency that promises a specific ROAS or number of leads is either lying or naive. A true expert will talk in terms of probabilities, benchmarks, and a methodical process of testing and optimisation. They promise a process, not an outcome.

2. They Don't Challenge You. If you explain your business and your goals, and the agency just nods along and says "Yep, we can do that," be very wary. A great partner will push back. They'll question your assumptions about your ideal customer. They'll critique your landing page. They'll suggest your offer might be wrong. This can feel uncomfortable, but it's a sign that they are thinking like a business owner, not just a service provider. You're paying for their expertise, not their obedience.

3. They're Vague About Compliance. When you ask the tough questions about FCA rules and ad policies, if they respond with "Oh, we have ways of getting things approved" or "We'll handle all that," it's a massive warning sign. This suggests they either don't know the specifics or they plan to use tactics that could get your ad account banned. A competent agency will speak with precision about the policies and their process for ensuring compliance. Anything less is a gamble you can't afford to take.

4. Their Proposal is a Cut-and-Paste Template. If the proposal you receive feels generic and could apply to any business, they haven't been listening. A great proposal is a strategic document that reflects the specific conversations you've had. It should mention your competitors, your specific LTV numbers, and your unique challenges. If it just lists "Keyword Research," "Ad Copywriting," and "Monthly Reporting," you're dealing with a factory, not a consultancy. Finding a true partner means finding a fintech Google Ads agency that acts as a guide, not just a supplier.

Trust your gut. The vetting process is as much about finding the right cultural fit as it is about ticking boxes. You're going to be working closely with these people, and you need to feel confident that they have your best interests at heart. This is the foundation of a successful UK paid ad strategy for any fintech.

What happens next?

Choosing a PPC agency is one of the most significant marketing decisions a fintech founder can make. Get it right, and you unlock a predictable engine for growth that can scale your business faster than you thought possible. Get it wrong, and you'll burn through your funding, lose precious time, and end up more confused than when you started. The stakes are particularly high in London's hyper-competitive market, making a solid guide to vetting London agencies an invaluable asset.

The framework I've laid out isn't about finding a cheap vendor; it's about identifying a genuine growth partner. It requires more work from you upfront—you need to understand your numbers, ask tough questions, and critically evaluate their strategic thinking. But this initial investment of time will pay for itself a hundred times over.

A great agency won't just manage your ads. They will become an extension of your team, providing insights that inform your product development, your pricing, and your overall go-to-market strategy. They will care about your cost per acquisition because they understand how it connects to your lifetime value. They will obsess over compliance because they understand the reputational and financial risk of getting it wrong.

This is the standard you should be looking for. Don't settle for less. Your business is too important.

Navigating this landscape alone can be daunting. If you've read this and feel you need a second opinion on your current strategy or want to see what a specialist approach looks like in practice, we offer a completely free, no-obligation strategy session. We'll get on a call, review your ad accounts and your business goals, and give you honest, actionable advice you can implement immediately. Whether we end up working together or not, our goal is to provide you with real value and clarity.

Consider scheduling a call with us to see how a dedicated fintech PPC partner can change your growth trajectory.