Speed of response: Time of call: 11.55 One ring and a receptionist and put her through to an adviser. 5/5
Telephone Manner: Polite, helpful and friendly. 5/5
Relevant Qualifications: Qualified to diploma level with the Chartered Insurance Institute. 5/5
Payment Method: Fees. Generally £120 an hour plus VAT, but it would have to be agreed as it could be too much for someone who contributes a small amount to a pension. 5/5
Guidance Given: The shopper was asked if she has a pension through her employer, which she does not as the company is very small. The adviser said the firm would have to offer her a pension eventually as the government had introduced a pension scheme to encourage this and that it is being phased in. The benefit to this would be that it would involve a contribution from the employer. The adviser said a pension would offer tax relief and it is tax-free, but that the money is locked in until at least age 55 and that only a percentage could be claimed as a lump-sum. He noted that there were other options available. 5/5
Knowledge: The adviser was very knowledgeable on recent changes in legislation, and on the pros and cons of pension investment according to the shopper’s age and financial circumstances. 4/5
E-mail/Web presence: mail@fhmanning.co.uk http://fhmanning.co.uk/5/5
Verdict: The shopper felt confident in the company’s ability to advise her well and would be happy to have an initial meeting.
34/35
Adviser (Independent), Gold IFA, 28a The Forum, North Hykeham, Lincoln LN6 8HW
Speed of response: Time of call: 12.05. Three rings then through to a receptionist who put the shopper through to an adviser. 5/5
Telephone Manner: Polite and professional. The receptionist offered an appointment straightaway, as did the adviser. 5/5
Relevant Qualifications: All advisers were qualified to diploma level. 5/5
Payment Method: Fee-based and usually a charge for advice from a percentage of the pension contribution. 5/5
Guidance Given: The adviser was insistent that a meeting would be necessary to ascertain what the shopper needed, and asked her if she wanted to retire on a state pension. She said that pensions needed to be reviewed regularly so that they do not get a shock on retirement. The adviser said that they would need to look at the risk-reward balance. 3/5
Knowledge: The adviser appeared knowledgeable about the pensions market but seemed reluctant to give too much away on the telephone. 2/5
E-mail/Web presence:www.goldfinancialgroup.co.uk/ enquires@gold-ifa.co.uk 5/5