InvestmentsDec 4 2013

Mystery Shopper: Portsmouth

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Telephone Manner: Friendly and helpful. 5/5

Relevant Qualifications: Level four (Chartered Insurance Institute). 5/5

Payment Method: Hourly rate for advice was £250 or 2 per cent of initial investment as an initial charge plus 0.75 per cent of total investment going forward on a yearly basis. 4/5

Guidance Given: Make use of Isa allowances, put the maximum allowed on a pension (£50,000 a year), plus other investments in unit trusts. 3/5

Knowledge: She seemed to know what he was talking about, although made it clear that she was not yet a chartered financial adviser. 3/5

Email/Web Presence: www.accudo.co.uk enquiries@accudo.co.uk 5/5

Verdict: Seemed a bit limited in the range of advice offered.

30/35

Lane Financial Management, 17 Pembroke Road, Old Portsmouth PO1 2NT

Speed of Response: Time of call: 10.45am. Three rings, through to a receptionist, given mobile phone number for a partner who answered immediately. 5/5

Telephone Manner: Helpful and knowledgeable. 5/5

Relevant Qualifications: Chartered financial planner, level four. 5/5

Payment Method: Two per cent initial charge on initial investments, and 1 per cent annual charge thereafter. However he made it clear that the annual charge would be taken out of the profits from the investments. 4/5

Guidance Given: He said to make use of the Isa allowances every year, highlighted that pension money was taxable when it started being withdrawn, and also suggested investment in a range of units trusts, which could be made more tax-efficient by offsetting them against Isa allowances. 4/5

Knowledge: The adviser went into much greater detail than any of the other advisers. 4/5

Email/Web Presence: www.lane.fm

email: info@lane.fm 5/5

Verdict: The most helpful and proficient of the advisers contacted.

32/35

Magill & Co, 303 Titchfield Road, Fareham PO14 3ER

Speed of Response: Time of call: 11.15am Answered by a receptionist after two rings, then straight through to a senior partner. 5/5

Telephone Manner: Friendly and helpful. 5/5

Relevant Qualifications: Chartered financial planner. 5/5

Payment Method: Either a flat fee of £180 an hour, or percentages of the total initial investment (4.5 per cent up to £10,000, 3 per cent up to £200,000, and 1 per cent to 2 per cent up to £500,000, depending on complexity of investments). 4/5

Guidance Given: Take full advantage of Isa allowances, then unit trusts, and lastly pension funds. 3/5

Knowledge: Very knowledgeable across all areas and the only person who asked me how much the shopper wanted a year to retire on, and then worked backwards from that figure. 4/5

Email/Web Presence: Current email addresses and website details are being changed at time of press. 1/5

Verdict: Extremely practical advice and very affably delivered.

27/35

Provider: Nationwide

Speed of Response: Time of call: 11am Two rings and the representative said the shopper needed to book an appointment for a telephone conversation with a branch. After the shopper said no, he was transferred to an adviser. 2/5

Telephone Manner: Helpful. 3/5

Relevant Qualifications: Branch adviser had level four. 5/5

Payment Method: He could not tell the shopper for sure what any charges would be, and said it depended on the investment package. 1/5

Guidance Given: Suggested investing in a combination of Isas and unit trusts, which would be on Nationwide’s short list of preferred products, and also said that for specific pensions advice the shopper would be referred to an IFA. 3/5

Knowledge: Quite knowledgeable on pensions contributions, Isas and the tax implications. 3/5

Email/Web Presence: Pop-up email on website www.nationwide.co.uk 5/5

Verdict: Would not use Nationwide unless it rolled out its own pension plans.

22/35