Adviser (independent whole of market)
Speed of response
Time of call: 10.30am. Answered after two rings by a rather breathless male receptionist. Shopper spent 20 seconds on hold while she was put through to a financial adviser. 4/5
Telephone manner
Polite and friendly. 5/5
Relevant qualifications
Adviser said he was level four. 5/5
Payment method
The first appointment would be free, after which a fee would be discussed. 5/5
Guidance given
The adviser explained that because it was a Monday morning he was very busy and he would rather have a face-to-face meeting with the shopper. The shopper said she too was busy and that Monday morning was her only free time during the week. The adviser did tell her to find any pension statements and medical insurance details, along with a list of assets and debts, a process which the shopper felt she would find helpful. He also mentioned that the office was relocating to Watford; an inconvenient location for the shopper. 4/5
Knowledge
Without giving any specific advice, the adviser was very helpful. 3/5
Email/web presence
www.starfinancialplanning.co.uk
leedenham@starfp.co.uk
5/5
Verdict
The adviser was friendly and gave the shopper some practical advice, but the office was moving too far away from the shopper for a face-to-face consultation. The adviser did offer to make a home visit.
31/35
Adviser (independent), Altorfer Financial Management, 5 Regent Gate, High Street, Waltham Cross, EN8 7AF
Speed of response
Time of call: 11.20 am. Call was answered immediately by receptionist.
5/5
Telephone manner
The receptionist seemed a bit brusque but was friendly.
3/5
Relevant qualifications
The practice was an investment adviser with advisers qualified to level four and above. 5/5
Payment method:
Payment was not discussed. 1/5
Guidance given:
The receptionist asked the shopper for a few details, as the shopper said she felt she needed some kind of financial check-up involving an overhaul of her pension planning and savings. The receptionist said there was no point putting her through to an adviser as the business would only take on clients with £200,000 or more to invest. 2/5
Knowledge:
The shopper did not speak to an adviser. 0/5
Email/web presence: http://www.altorfer.co.uk 3/5
Verdict: The receptionist was upfront, and the shopper appreciated her candour.
19/35
Adviser (independent) Kings FS, Tudor Lodge, Burton Lane, Goffs Oak, Waltham Cross, EN7 6SY
Speed of response:
Time of call: 11.32 am. Call was answered immediately by receptionist. 5/5
Telephone manner: Very friendly and helpful. 4/5
Relevant qualifications:
The adviser had a certificate in financial planning and a specialist mortgage qualification. He said he also taught other advisers. 4/5
Payment method:
The first consultation would be free, then a fee would be agreed if further advice was needed. 5/5
Guidance given:
The adviser was very helpful, suggesting the shopper look at putting a third of her freelance income into an Isa, although he did not stipulate whether cash or shares. He said it would help her both with tax and pension planning, but that with two young children, she had the option to withdraw the money should it be needed in future.
He told the shopper her lecturer’s pension would probably need a top-up, which she could do through an AVC. He invited her to make an appointment for a financial check-up.
5/5
Knowledge:
The adviser seemed very knowledgeable, and was happy to give initial advice the shopper could take away and use. 4/5
Email/web presence: www.thomasoliveruk.co.uk
david.kenton@thomasoliveruk.co.uk
SHOPPER’S CHOICE
The mystery shopper would happily make an appointment to see the adviser, as he was really helpful without expecting to do further business, and helped empower the shopper.
32/35
Provider, Santander 199, Hertford Road, Waltham Cross, EN3 5JH (call centre)
Speed of response
Time of call: 11.01am. Call was answered immediately by an automated system. Within 20 seconds the shopper was speaking to a customer services assistant. 4/5
Telephone manner:
Friendly and professional. 4/5
Relevant qualifications:
The assistant said he was not a financial adviser, and was unqualified to give financial advice. 0/5
Payment method:
Free to customers. 5/5
Guidance given:
The assistant asked the shopper some questions but seemed unsure the bank could help. When the shopper asked about having a financial health check the assistant put her on hold for six minutes while he looked for someone who could help. Once back on the phone, he said the bank no longer offered financial advice and recommended she speak to an independent financial adviser. 4/5
Knowledge:
The fact that the customer service assistant needed to go away and check whether Santander could still offer financial advice was unimpressive. 2/5
Email/web presence: http://www.santander.co.uk/uk/index 4/5
Verdict: Although the customer service assistant was very friendly, he shouldn’t have needed to be told that Santander no longer offer financial advice to their customers.
22/35
