Reportedly burn fortune-teller (4)
I believe the answer is:
seer
'fortune-teller' is the definition.
(I've seen this before)
'reportedly burn' is the wordplay.
'reportedly' shows a homophone (sound like).
'burn' becomes 'sear' (I've seen this before).
'sear' is a homophone of 'SEER'.
(Other definitions for seer that I've seen before include "One has unusual foresight" , "Person with unusual powers of foresight" , "Wise person" , "about a couple of pounds over there" , "Regard with respect" .)