Pensions  

Mystery shopper: Peterborough

This week the mystery shopper visits Peterborough. The shopper is seeking advice on annuities on behalf of an uncle who is aged 64 and in good health. The uncle has a pension pot worth between £65,000 and £70,000.

Adviser (Independent): Accredo Financial Services Limited, Somersby House, 73 Broadway, Peterborough, PE1 1SY

Speed of response:

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Time of call: 2.42pm. The call was answered after two rings. 5/5

Telephone manner:

Polite and professional. 5/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

No charge for the initial meeting. Thereafter, charges would depend on individual circumstances. 5/5

Guidance given:

The adviser said the suitability of an annuity is dependent on a host of factors, including the value of the client’s pension pot, his age, marital status and health. He added that those with final salary pension schemes are often advised to do nothing.

The adviser said he would need to speak with the uncle directly to better gauge his circumstances before offering tailored advice. 3/5

Knowledge:

The adviser displayed a clear understand of the topic, giving detailed explanations of the pros and cons of annuities, although the shopper felt he was holding back until he could speak to the uncle himself. 4/5

Email/web presence:

paul@accnedofs.com

www.accredofinancialservices.com/index.html 5/5

Verdict:
The adviser was helpful, tackling the shopper’s many questions in a polite and informative manner.

32/35

Adviser (Independent):

Henson Crisp, Eco Innovation Centre, Peterscourt, City Road, Peterborough, PE1 1SA

Speed of response:

Time of call: 2.53pm. Call answered after two rings. 5/5

Telephone manner:

Professional yet easy to talk to. 5/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

No charge for the initial meeting. Later fees would depend on individual circumstances. 5/5

Guidance given:

The adviser asked a few questions to assess the shopper’s uncle’s circumstances, including the value of his pension pot, and whether he was planning to use the 25 per cent tax-free lump sum withdrawal.

Annuities provide income for life, the adviser said, adding that the value of the income is dependent on age, marital status and health.

She said that there were quite a few annuities available, including impaired annuities, which offer a high rate of income compared with the traditional product. 4/5

Knowledge:

The adviser clearly knew her stuff. She said that she would require a face-to-face meeting with the uncle to give tailored advice. 5/5

Email/web presence:

rachelle@hensoncrisp.com

www.hensoncrisp.com 5/5

Verdict:

The adviser offered detailed and helpful information on the topic. At no point during the conversation did the shopper feel he was being coerced into doing business.

34/35

Adviser (Independent):

Peter Richards Financial, 43 Lidgate Close, Orton Longueville, Peterborough, PE2 7ZA

Speed of response:

Time of call: 3.00pm. Call answered after four rings. 5/5

Telephone manner:

Friendly and polite. 5/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

No charge for the initial meeting. Later fees would be dependent on individual circumstances. 5/5

Guidance given:

The adviser said annuities are considered to be a low-risk product compared with other solutions at retirement because it guarantees income for life. He added that the decision to lock into an annuity is not reversible, and death benefit is not applicable. 3/5