Adviser (Independent):
MJH – The Independent Financial Adviser, Ley Lodge, Old Hollow, Worth, Crawley, RH10 4TA
Speed of response:
Time of call: 12.09pm. Call answered after two rings. 5/5
Telephone manner:
Very polite and friendly. 5/5
Relevant qualifications:
Level four diploma. 5/5
Payment method:
Payment would depend on individual circumstances. 3/5
Guidance given:
The adviser said that the shopper should not necessarily rush to pay off his student debt because of the low interest rate on it. He added that the shopper might find it difficult to secure a mortgage for a home valued at £250,000 or more because of the value of his annual earnings. The adviser said that the current rate of interest made cash Isas unattractive, while stocks and shares could yield high returns but were subject to volatility. 3/5
Knowledge: The adviser displayed comprehensive knowledge of mortgages, as well as Isas – although he said that these are not his areas of specialism. 3/5
Email/web presence: NA.0/5
Verdict: The adviser said that he would not be able to advise the shopper because his query did not fall within his remit and because he only dealt with higher net-worth clients. However, the shopper appreciated the comprehensive guidance he had given.
24/35
Adviser (Independent):
Aspect8, Copthorne Way, Copthorne, RH10 3PG
Speed of response:
Time of call: 12.19pm. Call answered after two rings. 5/5
Telephone manner:
Friendly yet professional. 5/5
Relevant qualifications:
Level six diploma. 5/5
Payment method:
Dependent on individual circumstances. 3/5
Guidance given:
The adviser said that the shopper could afford to keep his student debt because of the minimal interest on the repayments. She also suggested he might open a stocks and shares Isa; a proposition subject to market volatility and the shopper’s attitude to risk. While cash Isas lacked the risk factor, the current low rate of interest made them unattractive. She said that putting the inheritance toward a deposit for a mortgage could be a good option, although she would need to gauge whether the shopper could afford it. 4/5
Knowledge:
The adviser seemed very knowledgeable, particularly in mortgage and Isa propositions. 4/5
Email/web presence:
katherine@aspect8.co.uk
www.aspect8.co.uk 5/5
Verdict:
Very good. The adviser was willing to answers all of the shopper’s many questions, and did so in an endearing manner.
31/35
Adviser (Independent):
Paramount Financial Planning, 4 Moorhead Road, Horsham, RH12 4ND
Speed of response:
Time of call: 12.30pm. Call answered after three rings. 5/5
Telephone manner:
Friendly yet professional. 5/5
Relevant qualifications:
Level four diploma. 5/5
Payment method:
Dependent on individual circumstances. 3/5
Guidance given:
The adviser said he would need to meet the shopper first to better gauge his circumstances before offering any guidance, because of issues relating to compliance and regulation. 2/5
Knowledge:
The shopper was unable to gauge the adviser’s knowledge level on the mortgages, Isas or investments because he was not willing to offer guidance. 2/5
Email/web presence:
adam.jones@paramountfp.co.uk
www.paramountfp.co.uk 5/5
Verdict:
The shopper was disappointed by the lack of guidance, but appreciated the adviser’s explanation behind his decision.
27/35
Provider: Aldermore Bank
Speed of response:
Time of call: 12.38pm. Call answered by an automated system, then transferred to a representative after six and a half minutes. 3/5
Telephone manner:
Polite. 5/5
Relevant qualifications:
The representative said he was not qualified to give financial advice. 0/5
Payment method:
Payment would vary from product to product. 3/5
Guidance given:
The representative explained that he was not a qualified financial adviser so he would be unable to offer any advice. However, he explained that the shopper could put his money into one of the bank’s saving propositions. He also offered to transfer the call to his colleague who dealt with mortgages. 2/5
Knowledge:
The representative displayed good knowledge of the bank’s cash Isas offerings. 3/5
Email/web presence:
www.aldermore.co.uk 3/5
Verdict:
Good overall. Although the representative could not comment on the shopper’s scenario, he gave a comprehensive explanation of the savings products the bank offered.
19/35
