Adviser (independent whole of market)
Speed of response
Time of call: 1.30pm. Answered after one ring by a receptionist. Shopper spent 20 seconds on hold while she was put through to a financial adviser. 4/5
Telephone manner
Very polite and friendly. 5/5
Relevant qualifications
Adviser said they were a chartered financial planner. 5/5
Payment method
The first appointment would be free after which a fee would be discussed. 5/5
Guidance given
The adviser explained that there were a number issues the shopper’s parents might need to consider, such as whether they could afford to make provision for the cost of future nursing care. The issue of inheritance tax was raised, and the complexities of that would need to be discussed. The adviser said a meeting would be necessary before any more advice was given. 4/5
Knowledge
The adviser seemed aware of the issues surrounding the inheritance of a large amount of money. 4/5
Email/web presence
www.lonsdaleservices.co.uk
s.armstrong@lonsdaleservices.co.uk
5/5
Verdict
The adviser was friendly and very personable, something the shopper felt her elderly parents, who are a bit wary of taking financial advice, might appreciate.
32/35
Adviser (independent)
Trinity Wealth Management Ltd, Cedar Court, 6c Parkway, Porters Wood, St Albans, Hertfordshire, AL3 6PA
Speed of response
Time of call
2pm. Answered after nine rings by a financial adviser. 4/5
Telephone manner
Polite but a bit brusque. 3/5
Relevant qualifications
Chartered financial planner. 5/5
Payment method
The first appointment was free, then fees would be discussed if further advice was given. 5/5
Guidance given
The adviser was happy to give some basic advice, mentioning inheritance tax and the need for nursing care provision He said further advice would require an appointment due to the nature of the shopper’s query. 3/5
Knowledge
The adviser seemed very knowledgable. 4/5
Email/web presence
www.financial-advisers.com
adam@trin.uk.com 5/5
Verdict
The adviser was a bit perfunctory, but this is probably understandable due to the complex nature of the shopper’s query and the fact she was asking on someone else’s behalf.
29/35
Adviser (independent) KDW Independent Financial Planning, 142 London Rd, St Albans, Herts AL1 1PQ
Speed of response
Time of call: 3.40pm. The phone was answered by a receptionist after three rings. The shopper was then put through to an adviser. 5/5
Telephone manner
Polite and friendly. 5/5
Relevant qualifications
Adviser said he was a chartered financial planner. 5/5
Payment method:
First visit/consultation free after which a fee would be charged. 5/5
Guidance given
This adviser was happy to chat with the shopper without the promise of an appointment. He explained inheritance tax succinctly and dismissed the idea of her parents buying an annuity, as they were probably too elderly. He also talked through the need for making sure nursing costs were covered but also said there were ways of helping mitigate IHT. He recommended she attend any initial meeting between himself and her parents, as discussing money might help their family. 5/5
Knowledge
The shopper was impressed with the adviser’s knowledge and the way he spoke to her. 4/5
Email/web presence
www.kdw.co.uk
dan@kdw.co.uk 5/5
Verdict
A chatty and knowledgeable adviser that the shopper would be pleased to go back and take further advice from. It was good to speak to someone who seemed to care. 34/35
Provider, Barclays, 16-18 St Peters Street, St Albans, AL1 3NA
Speed of response
Time of call: 9.55am. The phone was answered by an automated system which gave the shopper another freephone number to call. After 30 seconds she was put through to a call centre – and after eight minutes she was put through to the branch. An adviser called back that afternoon but the shopper missed the call. She was given a mobile number but had to leave a message. 3/5
Telephone manner
The customer service assistants were friendly and polite. 5/5
Relevant qualifications
The shopper was told she needed to speak to a premier account manager, but told they did not hold chartered financial planner status. Despite asking a few questions the shopper could not ascertain what qualfications they held. 0/5
Payment method
Free to Barclays customers. 5/5
Guidance given
The adviser explained that Barclays premier account customers – those with £150,000 or more – were given access to an old-fashioned bank manager who could provide access to mortgage deals and cash savings such as Isas or bonds. The adviser said the shopper would be best off going to a whole of market independent financial adviser because he could only offer advice on Barclays services and products. It seemed that she would need more in-depth advice on IHT pensions and annuities. 5/5
Knowledge
The adviser was knowledgable and explained why the shopper needed independent financial advice. 4/5
Email/web presence
www.barclays.co.uk/PremierBanking
Verdict:
Barclays no longer offers advice to customers on spec, but it does have a service for high-net-worth customers, so the shopper’s parents would need to open an account, which might be an option. However she would rather speak to an independent advice as the services on offer were limited.
27/35
