This week, the mystery shopper is in Poole, Dorset. He is seeking advice on ethical investments on behalf of his aunt, who has recently inherited £30,000. His aunt has finished paying off her mortgage and has no outstanding debts.
Adviser (Independent)
Coleman Financial Services, 8 Albany Park, Cabot Lane, Poole, BH17 7AZ
Speed of response
Time of call: 12.42pm. The call was answered after six rings. 5/5
Telephone manner
Extremely professional. 5/5
Relevant qualifications
Level four diploma qualified. 5/5
Payment method:
No charge for the initial meeting. A minimum fee of £500. 5/5
Guidance given
The adviser said that she would need to meet the shopper’s aunt to ascertain her financial position and what she wishes to gain from the investment. What constitutes an ethical investment is down to individual perceptions, she added. The company typically did not invest in tobacco or arms companies. There was a growing demand for this type of investment, according to the adviser. 3/5
Knowledge
The adviser displayed good knowledge and spoke confidently on the subject. 4/5
Email/web presence
glasspoold@colemanfsl.co.uk
www.colemanfsl.co.uk 5/5
Verdict:
No frills but very good nonetheless. The adviser articulately delivered helpful insight on the subject in an extremely professional manner.
32/35
Adviser (Independent)
Total Wealth Solutions, Longham House, 76 Ringwood Road, Longham, Ferndown, BH22 9AW
Speed of response
Time of call: 3.51pm. Call answered after two rings. 5/5
Telephone manner
Friendly and engaging. 5/5
Relevant qualifications
Level four diploma. 5/5
Payment method
Payment would vary on a case by case basis. 4/5
Guidance given
The adviser said that some ethical investments would not invest in tobacco, arms and alcohol companies. He added that a meeting with the shopper’s aunt would be required to gauge her definition of what constitutes an ethical investment. 3/5
Knowledge
Very good. The adviser explained that ethical investments could be accessed through an Isa in the same way as through traditional equity investments. 4/5
Email/web presence
david@tws-uk.com
www.totalwealthsolutions.co.uk 5/5
Verdict
The adviser spent time giving a comprehensive explanation on the different facets of ethical investments
31/35
Adviser (Independent): Positive Solutions, 10 Wraxall Close, Poole, BH17 9JR
Speed of response
Time of call: 4.04pm. Call answered after two rings. 5/5
Telephone manner
Very friendly. 5/5
Relevant qualifications
Level four diploma. 5/5
Payment method
Payment would vary according to individual cases. 4/5
Guidance given
The adviser said that that he would need to talk to the shopper’s aunt before offering advice. Ethical investments come in different forms, the suitability of which depends on the investor’s attitude to risk and for how long he is willing to invest, he said. 4/5
Knowledge:
The adviser seemed knowledgeable, but failed to go into the topic in great depth. The shopper thought this was because the adviser thought he should really be talking to the shopper’s aunt instead. 3/5
Email/web presence
karlward@thinkpositive.co.uk
www.karlward-ifa.co.uk
5/5
The shopper seemed to have a good understanding of the topic but failed to expand on what little guidance he gave. He did, however, conduct the conversation in a friendly and welcoming manner.
31/35
Provider: Alliance Trust
Speed of response
Time of call: 4.11pm. The call was answered by an automated system, and transferred to an adviser within 25 seconds. 4/5
Telephone manner
Polite and professional. 5/5
Relevant qualifications
The representative said that he was not qualified to give financial advice. 0/5
Payment method
Payment would vary on a case by case basis. 4/5
Guidance given
The representative initially seemed unsure about whether the firm offered ethical investments. After putting the shopper on hold for just under a minute, he said that the company did indeed offer such investments. The representative advised the shopper to visit the firm website for more details on ethical investments. 2/5
Knowledge
Limited. The representative kept the shopper waiting to find out whether the company offered ethical investments. 1/5
Email/web presence:
www.alliancetrustinvestments.com
3/5
Verdict:
The shopper took little from the conversation other than the fact that the firm offered ethical investments. He did, however, appreciate the representative’s polite conversational manner.
19/35
