CompaniesApr 24 2014

Mystery Shopper: Sheffield

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(Independent) Campbell Harrison, 19 Paradise Square, Sheffield S1 2DE


Speed of response: Time of call: 2:27pm. Answered by receptionist after five rings who put the shopper through to adviser. 5/5

Telephone manner: Pleasant and happy to listen. 5/5

Relevant Qualifications: Level-four diploma qualified. 5/5

Payment method: Investments are usually charged at 3 per cent of the amount invested. 5/5

Guidance given: With at least 15 years to build up the savings the adviser recommended looking at the stock market. Fifteen years, he said, gave the investments plenty of time to grow and withstand the cyclical nature of markets. Equity exposure, he added, could be accessed in a Junior Isa, although he also suggested the benefits of the shopper opening a stocks and shares Isa in his own name so that he could avoid his son wasting the money as soon as it was made accessible. 4/5

Knowledge: The adviser did a good job of explaining the tax benefits of Isas and the mechanics of the stock market in simple terms. 4/5

Email/Web Presence: www.campbellharrison.co.uk 3/5

Verdict: Good. The adviser was helpful, easy to speak with and presented some interesting options. 31/35

(Independent) The Money Map (Financial Navigation), 3 Twelve O’Clock Court, 21 Attercliffe Road, Sheffield S4 7WW

Speed of response: Time of call: 2:38pm. Answered by receptionist after four rings who put the shopper through to adviser. 5/5

Telephone manner: Polite and helpful. 5/5

Relevant qualifications: The adviser explained that he held advanced qualifications and was “overqualified for diploma level”. 3/5

Payment method: First meeting free and then a number of payment options would be made available depending on the type of investment made. 4/5

Guidance given: The adviser said that although there were plenty of options available, the first port of call should be a friendly society investment, which offered tax-exempt saving plans with the option for £25 to be added each month per person. These vehicles, he added, performed well and were managed by non profit-making companies, although the adviser was keen to meet in person to discuss all the available options. 3/5

Knowledge: The adviser did not want to disclose too much information over the phone but responded well to the shopper’s questions. 4/5

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

Verdict: The adviser was helpful and friendly but did not go into much detail as he preferred to meet in person. 29/35

(Independent) WFI Financial, WFI House, 2 Queens Road, Sheffield S2 4DG

Speed of response: Time of call: 2:14pm. Answered by receptionist after four rings who put the shopper through to adviser. 5/5

Telephone manner: Helpful, very friendly and enthusiastic.5/5

Relevant Qualifications: Level-four diploma qualified. 5/5

Payment method: Initial meeting free and then either a flat fee or 3 per cent of the initial investment followed by 1 per cent ongoing charges. 5/5

Guidance given: The adviser explained that a lot depended on the level of access the shopper would like his son to have. A Junior Isa, he said, could be a good starting point but could also cause issues because the child could access it at age 16. For this reason he recommended making an investment on his behalf to retain control of the money, and the option of making regular payments, which would ensure good-value stocks were selected. 4/5

Knowledge: Good all-round knowledge with concise, easy-to-understand explanations. 4/5

Email/Web Presence: info@wfillp.co.uk / www.wfifinancial.co.uk 5/5

Verdict: SHOPPER’S CHOICE – The adviser provided some helpful explanations, seemed to know his stuff and made a strong impression on the shopper. 33/35

Provider: Skipton Building Society, 127 Pinstone Street, Sheffield, South Yorkshire S1 2HL

Speed of response: Time of call: 10:10am. Answered after 6 rings. 4/5

Telephone manner: Extremely helpful and friendly. 5/5

Relevant qualifications: The representative explained that she was not qualified to give financial advice. 0/5

Payment method: No charge for advice from a financial adviser but set up charges do apply. 3/5

Guidance given: The representative discussed deposit accounts and said anything investment-related would be dealt with by one of Skipton Financial Services’ advisers. She said trusts were good for putting a lump sum into, particularly with interest rates low, and also explained the benefits of Junior Isas and how they were a good starting point because of their tax-free nature. 3/5

Knowledge: She showed a strong understanding not only of Skipton’s products but the savings market in general, and provided some basic information on the nature of stocks and shares investments. 3/5

Email/Web Presence: www.skipton.co.uk 3/5

Verdict: The shopper was very impressed with the level of customer service. The representative explained in simple terms the different types of savings accounts on offer and patiently answered all questions. 21/35