Mystery Shopper
Adviser (Independent):
Monahans Financial Services Ltd, 38-42 Newport Street, Swindon, SN1 3DR
Speed of response:
Time of call: 10.24am. Call answered after one ring. 5/5
Telephone manner:
Polite and friendly. 5/5
Relevant qualifications:
Level four diploma. The adviser said the firm was fully chartered. 5/5
Payment method:
No charge for initial meeting. The adviser said the charge for the advice could be between £600 and £700. 5/5
Guidance given:
The investor’s attitude to risk defines the suitability of ethical investments, the adviser said, rating the investment class at risk level three – with five being the highest. He added that there are currently five firms listed in the FTSE which are deemed to be ethical investments. He said he would personally opt for the best propositions for growth. 4/5
Knowledge:
The adviser displayed comprehensive knowledge in the topic area and seemed well-versed in Isas. 5/5
Email/web presence:
www.monahans.co.uk 3/5
Verdict:
The shopper would recommend this adviser. He was patient and gave clear and precise explanations, clearly distinguishing facts from his personal viewpoint.
32/35
Adviser (Independent):
Executive Wealth Management Limited, 17 Hamble Road, Swindon, SN25 3PF
Speed of response:
Time of call: 10.38am. Call answered after three rings. 5/5
Telephone manner:
Very friendly and polite. 5/5
Relevant qualifications:
Administrator. The representative said she was not qualified to give financial advice. 0/5
Payment method:
No charge for the initial meeting. Latter charges would be dependent on the individual’s circumstances, but generally range from £600 to £1,200. 5/5
Guidance given:
The representative stressed that she was not qualified to give financial advice. However, she added that ethical investments in renewable energy firms, for example, have become more popular in recent times. 3/5
Knowledge:
The representative demonstrated good knowledge in the topic area, and clearly explained the investment process. 5/5
Email/web presence:
jrelph@executivewealthmanagement.co.uk
www.executivewealthmanagement.co.uk 5/5
Verdict:
The representative generously answered all of the shopper’s questions to the best of her ability. The shopper appreciated her friendly approach.
28/35
Adviser (Independent):
Roy Chambers Associates, 12 Manor Park, South Marston, Swindon, SN3 4RR
Speed of response:
Time of call: 10.50am. Call answered after seven rings. 4/5
Telephone manner:
Friendly yet professional. 5/5
Relevant qualifications:
Level four diploma. 5/5
Payment method:
No charge for the initial meeting. Three per cent initial fee and 0.5 per cent ongoing levy for investments of up to £50,000. 5/5
Guidance given:
The adviser said that the suitability of ethical investment depended on the investor’s attitude to risk. He added that some investors may not want to invest in a number of firms they deemed unethical, but there were only a handful of ethical investments in the marketplace. 3/5
Knowledge:
Very good. The adviser explained the investment process in layman’s terms to ensure that the shopper understood. 4/5
Email/web presence:
roy@rcaifa.co.uk
www.rcaifa.co.uk
5/5
Verdict:
Very good overall. The adviser was very helpful, and patient in responding to all the shopper’s queries.
31/35
Provider: Triodos Bank
Speed of response:
Time of call: 11.01am. Call answered by an automated machine and transferred to a representative within a minute. 5/5
Telephone manner:
Professional. 4/5
Relevant qualifications:
The representative said she was not qualified to give financial advice. 0/5
Payment method:
The cost would depend on the investment option. 5/5
Guidance given:
Although she stressed that she was not a financial adviser, the representative said that the suitability of ethical investment would depend on the investor’s attitude to risk. She directed the shopper to the bank’s website for more information. 3/5
Knowledge:
The representative demonstrated little basic knowledge in the area. She outlined that the bank focused on four main ethical investments, but was unable to say what they were. 2/5
Email/web presence:
www.triodos.co.uk 3/5
Verdict:
The shopper was disappointed with the service. He had overheard the representative’s colleague telling her to direct him to the website shortly after the call was connected. He was also put on hold for nearly 30 seconds while the representative sought answers to his questions.
22/35
