Adviser (Independent):
P & P Invest
Unit 17/18, Building 2, William Street, Shamrock Quay, SO14 5QL
Speed of response: Time of call: 12.19pm. Answered after one ring. 5/5
Telephone manner: Professional. 5/5
Relevant qualifications: Advanced diploma in financial planning. 5/5
Payment method: £250 for a report, initial fee of 3 per cent for investments and 1 per cent fee per year for ongoing advice. 5/5
Guidance given:
The adviser asked questions to gauge the shopper’s spending habits and monthly disposable income. He explained the need to create a budget to ensure the shopper could save substantial amounts, but still be able to live a comfortable life.
The adviser suggested that the best course of action would be to deposit the savings into a cash Isa. He explored stock and shares Isas, but explained that the investment mechanism is too risky, especially within a five-year time-frame. 3/5
Knowledge:
The adviser accurately stated that the current Isa limit is £15,240 and demonstrated good knowledge of the rates of interest offered by leading Isa providers in the marketplace. However, there was no mention of help to buy Isa 3/5
Email/web presence:
advice@pandpinvest.com
www.financialadvisorsouthampton.com 5/5
Verdict:
The adviser explained that he would not be willing to take the shopper on as a client because the fee charged by his firm would not represent good value. He did offer detailed guidance without being prompted to do so, although he omitted help-to-buy Isa
31/35
Adviser (Independent):
Choice Financial Solutions
17-18 The Avenue, Southampton, SO17 1XF
Speed of response: Time of call: 12.31pm. Answered after one ring. 5/5
Telephone manner: Very friendly and professional. 5/5
Relevant qualifications: Level four diploma. 5/5
Payment method: £500 minimum. 5/5
Guidance given:
The adviser said the shopper could benefit by saving via a Help to Buy: Isa, explaining that the government tops up the shopper’s deposit to the value of 25 per cent – up to £3,000. He added that the shopper’s fiancée could also set up a separate Help to Buy: Isa.
He explored the option of investing in equities, and explained the potential for high returns and hefty losses. For this reason, he recommended that the shopper focus on depositing money into a cash Isa and a regular savings account. 5/5
Knowledge:
Very good. The adviser demonstrated good knowledge on the help-to-buy Isas and some of the more competitive Isas and regular savings product in the marketplace. 5/5
Email/web presence:
craig@choicefinancialsolution.com
www.choicefinancialsolutions.com 5/5
Verdict:
The adviser’s approach to the conversation was particularly noteworthy. The shopper also found the adviser to be helpful.
35/35
Adviser (Independent):
A B S Financial Planning Limited
The Design Chapel, Cemetary Road, Southampton, SO15 7NN
Speed of response: Time of call: 12.45pm. Answered after one ring. 5/5
Telephone manner: Professional yet friendly. 5/5
Relevant qualifications: Level four diploma. 5/5
Payment method: £130 hourly fee. 5/5
Guidance given:
The adviser explored the benefits of saving into a Help to Buy: Isa, explaining that the government boosts savings by 25 per cent – capped at £3,000. He said that stocks and shares is another strategy for capital growth, but it is subject to investment risk.
The adviser offered to arrange a meeting to further explore the shopper’s circumstances. He explained that the meeting would aim to identify exactly how much the couple would need to save to achieve their objectives. 4/5
Knowledge:
The adviser displayed good knowledge on savings and investments. He said he did not handle mortgage enquires, but seemed well versed on help-to-buy Isas. 4/5
Email/web presence:
piers@absfinancial.co.uk
www.absfinancial.co.uk
5/5
Verdict:
The adviser was warm and friendly, and the shopper was satisfied with the guidance he received.
33/35
Provider:
Yorkshire Bank
Speed of response: Time of call: 1.01pm. The call was answered by an automated system. The shopper was transferred to an adviser within 30 seconds. 5/5
Telephone manner: Polite and friendly. 4/5
Relevant qualifications: The representative said that he was not qualified to give financial advice. 0/5
Payment method: Varies – on a case-by-case basis. 3/5
Guidance given:
The representative stressed that he was not qualified to give financial advice. He explained that the company offered a cash Isa – including a help-to-buy Isa – and regular savings accounts. 2/5
Knowledge:
The representative gave a detailed explanation on the workings of the help-to-buy Isas. 3/5
Email/web presence:
www.ybonline.co.uk/personal/savings/tax-efficient-savings 3/5
Verdict:
The shopper felt the representative did his best to be helpful, conducted himself in a professional manner and provided useful information on the company’s products.
20/35
