Speed of response: Time of call: 4.18pm. Answered after three rings by an adviser. 5/5
Telephone manner: Friendly and keen to help, but not always easy to understand because he was in his car at the time. 4/5
Relevant qualifications: The adviser stated that he was fully authorised and registered with the FCA as an independent financial adviser. 3/5
Payment method: First meeting free of charge. If the shopper decided to proceed and take out a policy, the product provider would pay commission to the adviser. 5/5
Guidance given: The adviser first sought to understand the shopper’s circumstances by asking if he had any dependents. He then proceeded to explain what factors determined the cost of a policy, such as the length of cover, current age and whether it was paid out as a lump-sum or as regular income. He said the key was identifying an ideal level of cover. 4/5
Knowledge: The adviser seemed to know his stuff and explained in detail the different types of cover available. 4/5
Email/web presence: martinhelston@tpllp.com / http://www.tpllp.com 5/5
Verdict: The shopper was impressed with the adviser’s friendliness and apparent knowledge of protection, but did find it difficult at times to understand everything he said because of the poor phone signal and external noises.
30/35
IFA Dorothy Maxwell (Positive Solutions), 33 Evergreen Drive, Beverley Road, Hull HU6 7YD
Speed of response: Time of call: 4.31pm. Picked up after six rings. 5/5
Telephone manner: Extremely friendly and chatty. 5/5
Relevant qualifications: FPC 1, 2 and 3. MAQ, CF9, J04, J05, JP6 and AF3 CII diploma in financial planning. 5/5
Payment method: First meeting free and then, if all goes well for both parties, the shopper can decide to use the commission or pay upfront. 5/5
Guidance given: The adviser stated that there were a lot of different insurance products in the market and started by asking the shopper if he had a mortgage and a family. After finding out that the shopper had neither, she suggested that income protection or critical illness may be more suitable as life insurance was used to protect dependents or pay off debts. She also advised the shopper to check if his employer offered some form of protection before taking things further.5/5
Knowledge: Very competent. The adviser spoke clearly and in great detail about changes in the industry over the years and the different aspects of the protection market. 4/5
Email/website: DorothyMaxwell@thinkpositive.co.uk / http://www.femaleifa.co.uk 5/5
Verdict: Excellent. The adviser offered a clear breakdown and openly used her previous experiences to make things as clear as possible. The shopper would definitely recommend the adviser’s services.
34/35
Independent: Fiona Parkinson IFA, 125 Barnoldby Road, Waltham, Grimsby, Lincolnshire DN37 0DR
Speed of response: Time of call: 5.00pm. Picked up after four rings. 5/5
Telephone manner: Relatively helpful, but spoke very quietly. 3/5
Relevant qualifications: Level-four diploma. 5/5
Payment method: Initial meeting free, after which the policy would be paid in commission by the provider. 5/5
Guidance given: After quizzing the shopper on his status and whether he had any dependents or a mortgage, the adviser began to stress the importance of meeting face-to-face to better understand his needs and circumstances. She said that without a mortgage and children it may be better to look for something such as critical illness. 3/5
Knowledge: The adviser did seem to know a fair bit about protection and life insurance, but at the same time was hesitant to go into great detail on the phone and without a clearer idea of the shopper’s personal circumstances. 3/5
Email/website: fionaparkinson@tpllp.com / http://www.fionaparkinson-ifa.co.uk/ 5/5
Verdict: A mixed experience. The adviser seemed clued-up and the shopper appreciated the importance of a more in-depth chat, although she could have been slightly friendlier.
29/35
Provider: Aegon (call centre)
Speed of response: Time of call: 5.13pm. Options and then answered after 15 rings. 3/5
Telephone manner: Unenthusiastic and quite rude, although he did become friendlier as the conversation developed. 2/5
Relevant qualifications: The agent said he was not qualified to give advice. 0/5
Payment method: No fee for non-advised services. 3/5
Guidance given: The shopper was told that a lot depended on how much life cover was needed. Because of the shopper’s uncertainty, he was advised by the call centre agent to contact a financial adviser who could help better understand a complex sector full of different choices. If and when the shopper was more decisive about what he wanted, he could call back for a quote from Aegon. 3/5
Knowledge: Not bad. The call centre agent did not pretend to be an expert and was aware of the different types of products on the market. 3/5
Email/website: http://www.aegon.co.uk/ 3/5
Verdict: The shopper did not feel in safe hands and was left with the impression that he would be better off getting personal financial advice from a qualified adviser. He was, however, grateful for the call centre agent’s honesty.
17/35
