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The shopper's mother is approaching retirement and is considering the possibility of equity release as a means of enhancing her income. She moved to Exeter seven years ago, which is the last time she had her house valued. The shopper is concerned about the security of equity release and is ringing advisers to find out more about the options available for his mother.

Bryan J Hollingsworth,

Exeter, EX4

www.hollingsworth.uk.com

Speed of response: Time of call: 10.30am. A professional and polite receptionist answered the call after three rings and after a brief spell on hold, the shopper was put through to an adviser.

Rating: 4/5 stars

Telephone manner: The adviser was friendly and confident and keen to help the shopper as much as he could.

Rating: 4/5 stars

Qualifications: The adviser explained equity release was a very specialised area and he had the sufficient qualifications, recognised by the FSA, to help the shopper with his query.

Rating: 3/5 stars

Payment method: There would be no fee for the initial meeting. Payment would be either by an initial fee plus 0.25 per cent of the property's value on completion of the equity release or by commission from the lender.

Rating: 4/5 stars

Guidance: The adviser stressed the importance of taking time to consider equity release very carefully. He advised releasing equity should not be the first option. The shopper's mother should first think about down grading. He was also very keen to send both the shopper and his mother a copy of the Age Concern guide to equity release, which would map out all the relevant options available to someone interested in equity release and which would explain the advantages and disadvantages. He explained as the shopper's mother was only 54-years-old she may be a bit too young, as most schemes started at the age of 55 plus.

Rating: 4/5 stars

Knowledge: The adviser was clearly very knowledgeable about the equity release side of the market and made it clear to the shopper he specialised in this area.

Rating: 5/5 stars

Verdict: The adviser was extremely helpful and was more than happy to help the shopper with his questions. He frequently stressed the importance of taking time to consider all the options available and also how equity release was not a decision to be taken lightly. He was keen the shopper and his mother did all the appropriate research before going ahead with arranging a meeting and wanted to send both the shopper and his mother a copy of the Age Concern guide free of charge. He was very eager to help.

Rating: 24/30 stars

Professional Financial Advice,

Exeter, EX1

No web presence

Speed of response: Time of call: 10.44am. The call was answered quickly after only one ring, by a polite and professional receptionist who transferred the call to an adviser.

Rating: 4/5 stars

Telephone manner: The adviser was very friendly, polite and eager to help. She was chatty and had a calm tone of voice that made the shopper feel very much at ease.

Rating: 5/5 stars

Qualifications: The adviser explained she was authorised under the relatively new FSA regulations to give advice on equity release and home reversion plans. She also mentioned she was completely independent and covered the whole of market.

Rating: 3/5 stars

Payment method: When asked the adviser explained the initial consultation would be free and then subsequently the shopper's mother could choose whether to pay by hourly fee.

Rating: 4/5 stars

Guidance: The adviser briefly explained the different options of lifetime mortgages and home reversion schemes. She explained the shopper's mother could pay the interest if affordable but otherwise there was the option of various roll up schemes. The adviser said at 54 the shopper's mother was a bit too young and the average person interested in equity release was aged around 60 to 65. The adviser also mentioned how she would only refer the shopper to a scheme recommended by Ship and also stressed the importance of the shopper's mother getting independent legal advice. Considering her age, the adviser said equity release was not advisable for the shopper's mother and she should wait a few more years.

Rating: 5/5 stars

Knowledge: It was easy to see the adviser was very knowledgeable in the area of equity release. She was able to cover a lot of ground in a small amount of time and gave the shopper honest and informative answers to his questions.

Rating: 5/5 stars

Verdict: The adviser was very helpful and friendly. She made the shopper feel at ease and relaxed and was able to succinctly explain the questions surrounding equity release. She demonstrated a firm knowledge of the subject without being overbearing and made a complex subject appear quite straightforward.

Rating: 26/30 stars

Queensgate Personal Investment Management,

Exeter, EX2

www.queensgatepim.co.uk

Speed of response: Time of call: 10.54am. The phone was answered promptly after two rings by a polite receptionist. Unfortunately the shopper was placed on hold for some time while the receptionist struggled to connect him to an adviser.

Rating: 2/5 stars

Telephone manner: The adviser was polite, friendly and keen to listen to the shopper's needs.

Rating: 4/5 stars

Qualifications: The adviser did not mention his specific personal qualifications although he did tell the shopper if he went looking for advice elsewhere he should make sure the adviser had the relevant qualifications to advise on equity release.

Rating: 1/5 stars

Payment method: When asked the adviser told the shopper payment was either done by fees or commission. He said it was up to the client to decide.

Rating: 3/5 stars

Guidance: The adviser explained when trying to decide whether equity release was the right route to take it all depended on the individual. He suggested a face-to-face meeting would be more appropriate in order to determine whether equity release was the sensible route for the shopper's mother. He briefly outlined the options of lifetime mortgages and home reversion plans and mentioned a roll up mortgage. The adviser was keen for the shopper and his mother to come in for a meeting and stressed the importance of both family and an independent solicitor for such decisions.

Rating: 3/5 stars

Knowledge: The adviser obviously knew a lot about this subject and although he much preferred discussing equity release in person, he still managed to cover a lot of ground over the telephone.

Rating: 4/5 stars

Verdict: The adviser was keen to give the shopper as much help as he could. Having said that the adviser was not remotely pushy about organising a meeting but actually gave the shopper advice on what qualifications to look for if he were going to look for advice elsewhere. He was very friendly and knowledgeable and gave the shopper lots to think about.

Rating: 17/30 stars