Investments  

Mystery Shopper: Portsmouth

This week the mystery shopper visits Portsmouth. He is seeking investment advice after recently inheriting £30,000. The shopper is considering investing part of the sum in stocks and shares, but has a low attitude to risk. He is 25-years-old and rents a property.

Adviser (Independent): Cameron Asset Management Ltd, 109 Winter Road, Southsea, Portsmouth PO4 8DS

Speed of response: Time of call: 10.20am. Answered after three rings. 5/5

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Telephone manner: Professional. 5/5

Relevant qualifications: Level four diploma. 5/5

Payment method: 3 per cent on initial investment and 0.5 per cent a year thereafter for ongoing investment advice 5/5

Guidance given:

The adviser explained there are a number of funds that cater for individuals with a low attitude to risk. He explained that bank deposits are likely to be the best solution for those with no appetite to risk because cash in bank accounts are guaranteed up to a limit of £75,000. 4/5

Knowledge:

The adviser displayed good knowledge of the topic. He explained that history shows investments ultimately grow over a long period of time. 4/5

Email/web presence:

johnlindsay.camerons@btconnect.com

camlimited.co.uk 5/5

Verdict:

Good overall. The adviser gave a clear and concise overview of what stock and shares investments entails.

33/35

Adviser (Independent): Jupp Castle Financial Services Ltd, 5 Athena Avenue, Waterlooville PO7 8AE

Speed of response: Time of call: 10.32am. Answered after three rings. 5/5

Telephone manner: To the point yet courteous. 4/5

Relevant qualifications: Advance Diploma in Financial Advice. 5/5

Payment method: Fees from £500. 5/5

Guidance given:

The adviser kicked off the conversation by explaining he is a whole-of-market adviser. He said the best course of action would be to arrange a meeting to better delve into the shopper’s personal circumstances. The adviser added that the shopper could seek the services of a stockbroker instead if he is happy to make an investment without his personal circumstances being taken into consideration. 4/5

Knowledge:

The adviser showcased good knowledge on the topic. 4/5

Email/web presence:

brian@juppcastle.co.uk

juppcastle.co.uk 5/5

Verdict:

The conversation with the adviser was notably brief, but the shopper was satisfied with the guidance given

32/35

Adviser (Independent): G & C Financial Services

6a High Street, Fareham PO16 7AN

Speed of response: Time of call: 10.38am. Answered after two rings. 5/5

Telephone manner: Polite, friendly and professional 5/5

Relevant qualifications: Chartered Financial Planner 5/5

Payment method:

The adviser explained that the firm adopts a percentage fee model for investment advice. Ongoing investment advice also operates under the same charging model. 5/5

Guidance given:

The adviser gave a rundown of the advice process. He said the first port of call is to arrange a meeting during which he would do a fact-find on the shopper to better gauge his personal circumstance. He added that the cost of advice would also be discussed in the meeting. 4/5

Knowledge:

As a chartered status planner, the adviser presumably boasts a wealth of investment knowledge, although this did not come across in his guidance. 3/5

Email/web presence:

tim@gandcfinancial.co.uk

www.gandcfinancial.co.uk 5/5

Verdict:

The shopper was given a clear overview of the advice process, but would have appreciated more guidance on the topic.