Mystery shopper: Wolverhampton

This week the mystery shopper is looking into protection plans. The shopper and her husband are seeking protection options which will cater for their circumstances. The married couple with one child have a 25 year fixed term mortgage, and debts of about £7000. The husband is the sole breadwinner. The couple are enquiring whether it is necessary to take out protection plans, whether their debt should influence any protection cover and are seeking an overview of available options.

IFA (Independent) FSC Investment Services Ltd, 65 Waterloo Road, Wolverhampton.

Speed of response: Time of call: 2.38pm. The call was answered after two rings by a receptionist. After a few questions, the call was then transferred to an adviser. (4/5)

Telephone manner: The adviser was professional, open and easy to understand. (4/5)

Relevant qualifications: The adviser said he held the Advanced Financial Planning Certificate and the CeMAP qualification. (3/5)

Payment method: The firm offers a free initial appointment and works on a commission and fee basis. (5/5)

Guidance given: The adviser said it was an idea for the shopper to get cover to prepare for any unforeseen circumstances. This was especially important, he said, as the husband was the only breadwinner. He said there were several options the couple should consider for protection plans, including life assurance and critical illness, explaining each in turn. He was very brief and to the point. He stressed that it was dependent on what the couple could afford, but this would have to be discussed at the first initial meeting. (3/5)

Knowledge: The adviser provided a good overview of what protection plans were available and made sure the shopper understood what differentiated each one. He seemed confident and showed a good knowledge of the area. However, there was a lack of examples given and did not address whether the couple's debt would make a difference to taking out a plan or explained any of the options in depth. (3/5)

Email/Web presence: Email: frankd@fscinvestments.co.uk Website: www.fscinvestments.co.uk 5/5

Verdict: The shopper was given a broad overview of what was on offer in the protection market with regards to the couple's circumstances. Despite not providing any examples, the adviser seemed savvy, professional and open.

Rating: 27/35

IFA (Independent) Bates Investment Services, 38 Waterloo Road, Wolverhampton.

Speed of response: Time of call: 2.52pm. The call was answered after one ring by an adviser. (5/5)

Telephone manner: The adviser was friendly, professional and bright. He introduced himself and asked how he could help. (4/5)

Relevant qualifications: The adviser said he held the CII certificate and Certificate in Mortgage Advice. (2/4)

Payment method: The first meeting is free. The firm offers a fee or commission payment option. (5/5)

Guidance given: The adviser suggested that a suitable protection plan can be found for their needs, but there was a large number to choose from. He gave examples of the types of protection plans which included life assurance, critical illness, unemployment cover and sick pay cover. He explained each in much detail saying life assurance is a policy to cover the eventual imminent death of the insured. Critical illness covers serious illnesses and can pay a lump sum or regular income, and sick pay can cover pay for a period of time. He added that the couple's debt should not affect any personal protection cover plans. (4/5)