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

DB Wood Limited

Nottingham, NG5

www.dbwood.co.uk

Speed of response: Time of call: 10.46am. The shopper got through to a recorded message after one ring. After choosing the correct option the shopper then waited seven rings until the call was answered by a receptionist. After a short spell on hold the shopper was transferred to an adviser.

Rating: 3/5 stars

Telephone manner: The receptionist was not overly cheerful, but professional and polite. The adviser was very friendly, polite and professional.

Rating: 4/5 stars

Qualifications: No qualifications were mentioned

Rating: 0/5 stars

Payment method: The adviser explained how there was no fee for the initial consultation. If the client was to proceed, the adviser would then charge a fixed fee, and rebate any commission from the lender to the client.

Rating: 3/5 stars

Guidance: The adviser asked the shopper a variety of questions. He explained equity release was not for everyone and it depended on the individual's circumstances. He said equity release was often a last resort and should be used when there are no other ways of raising funds. The adviser explained equity release was an innovative area in a constantly changing market where anything could happen and there could be other schemes in years to come, so it was worth his mother thinking hard about her options. He mentioned how it was important to involve the entire family during the discussions. The adviser suggested the shopper's mother consider downsizing her house or borrowing money from her children.

Rating: 4/5 stars

Knowledge: The adviser had a lot to tell the shopper and his comprehensive and broad outline of equity release demonstrated his firm grasp and knowledge of the sector.

Rating: 5/5 stars

Verdict: The adviser put the shopper at ease when talking to him and came across as friendly and professional. He gave the shopper a lot of information to go away and think about. He seemed to have the shopper and his mother's best interests at heart when giving his advice.

Rating: 19/30

Hallmark (East Midlands) Ltd,

Ilkeston, DE7

www.hallmarkifa.com

Speed of response: Time of call: 11.01am. The call was picked up after four rings by a helpful and pleasant receptionist, who after a short time on hold put the shopper through to an adviser.

Rating: 3/5 stars

Telephone manner: Initially the adviser came across as short and abrupt but quickly became more relaxed and friendly.

Rating: 3/5 stars

Qualifications: The adviser said anyone gives advice on equity release has to be qualified and it is a specialist sector. He did not, however, say how he was qualified to recommend equity release.

Rating: 1/5 stars

Payment method: When prompted the adviser told the shopper the first hour would be free but then if they proceeded a £200 administration fee would be charged. The adviser would then discuss with the client whether he would be paid by fee or commission.

Rating 3/5 stars

Guidance: The adviser told the shopper it depended on what was right for the individual client. He said the older the client the better the deal. He said there were various different types of equity release. He dismissed the myth that equity release was a bit unsafe saying that it was now totally regulated. He suggested a meeting with the family to discuss and explain all the pros and cons.

Rating: 3/5 stars

Knowledge: The adviser seemed to know a lot about the subject and clearly was used to advising on equity release.

Rating: 3/5 stars

Verdict: Although the shopper was initially put off by the adviser's abrupt tone, this quickly subsided as the adviser became friendly and easy to talk to. He gave the shopper a lot to consider and even offered his mobile phone number in case the shopper had any other questions. The adviser gave the shopper friendly, helpful and professional advice.

Rating: 16/30 stars

Routen Chaplin IFA Limited,

Nottingham, NG10

www.routenchaplinifa.co.uk

Speed of response: Time of call: 14.49pm. The call was answered after nine rings by an adviser.

Rating: 3/5 stars

Telephone manner: The adviser was extremely friendly and calm, which made the shopper feel at ease when speaking to him.

Rating: 5/5 stars

Qualifications: The adviser did not mention any qualifications.

Rating 0/5 stars

Payment method: When prompted the adviser said he would be paid by fee, but he did not really elaborate or clarify this for the shopper.

Rating: 2/5 stars

Guidance: The adviser said most decent products started around the age of 60 to 65-years-old and there were a variety of different schemes to choose from. He explained the difference between home reversion plans and lifetime mortgages. The adviser told the shopper equity release should be a last resort and pointed out the options available. The adviser suggested a fact finding meeting with the shopper and his mother and other family members effected.

Rating: 4/5 stars

Knowledge: The adviser was clearly experienced in this sector and knew a lot about equity release.

Rating: 4/5 stars

Verdict: The adviser was friendly, chatty and was a pleasure to talk to. The shopper felt he could trust his advice. Unfortunately the adviser omitted to mention qualifications or payment. The adviser knew his stuff.

Rating: 18/30 stars