Mystery Shopper: Bracknell
Each week the mystery shopper seeks advice from independent and tied advisers in the UK. The aim is to find out whether advisers are delivering the goods when it comes to the all-important initial telephone contact between client and adviser. It is only intended to evaluate this first interview, and it is understood that further meetings would be necessary before final decisions could be made. The purpose is not to expose poor selling practices but to show constructively any weaknesses in the advice process.
Adviser (Independent)
Chiltern House Limited in Eastern Road, Bracknell, Berkshire, RG12 2XB
Speed of response: Time of call: 11.35am. Rang twice before it was answered. Caller’s details taken. IFA called within the hour. 4/5
Telephone manner: Very friendly and polite.
Relevant qualifications: IFAs are fully qualified, including Diploma in Financial Planning.
Payment method: Commission or fee, depending on the product.
Guidance given: When the IFA called back, he was professional and friendly. He suggested it was best to set up a meeting to discuss the best course of action. He suggested the meeting would take an hour and said he was willing to meet in the evenings, if the client needed to do so. He said the meeting would help gauge the client’s financial situation and expectations so that the adviser can do the relevant fact find and suggest suitable products available.
Knowledge: It was very clear that the IFA was professional and experienced. He clearly explained the process, cost and the role of advice.
Email/web presence:
www.the-chp.co.uk
info@the-chp.co.uk
Verdict
This is clearly a very professional and well-run firm. The phone was answered quickly, and although the IFA was not free at the time, the call was returned within the hour. The IFA was experienced and clearly explained the process, cost and role of advice.
33/35
Adviser (Independent)
Regency Financial Consultancy in Broome Court, Bracknell, Berkshire, RG12 7AB
Speed of response: Time of call: 11.46am. One ring before call was answered.
Telephone manner: Friendly receptionist and professional and helpful IFA.
Relevant qualifications: Caller spoke to firm’s partner and IFA Deborah Cooke, who has a Diploma in Financial Planning (CII).
Payment method: No fee for initial consultation. But commission is taken on protection products.
Guidance given: The adviser said the caller would need to visit the offices for a meeting. During the consultation, the mystery shopper’s financial situation and requirements would be evaluated to find a suitable deal. The IFA mentioned that the client would have to bring in some form of identification, such as a passport, and mentioned that for protection products, the firm would be able to charge a commission.
Knowledge: Although advice would only be given after a consultation, it was clear from the IFA’s telephone manner that she was experienced and knowledgeable.
Email/web presence:
www.regencyfc.com
enquiries@regencyfc.com
Verdict: The firm is well run and accessible. Caller spoke with a qualified IFA. Advice would only be given after a consultation, but it was clear from the phone call that the IFA was experienced and knowledgeable.
34/35
Adviser (Independent)
Pennymatters Ltd in, Doncastle Road, Bracknell, Berkshire, RG12 8PE
Speed of response: Time of call: 12.02pm. The phone rang twice before it was answered.
Telephone manner: Friendly receptionist and chatty knowledgeable IFA.
Relevant qualifications: Fully qualified IFA.
Payment method: Fee or commission, depending on client’s needs.
Guidance given: The IFA said it was best to set up a meeting, that he was happy to work around the client’s schedule and willing to come out to meet the client if needed. The IFA said he would look at the couple’s financial and health situation, what their properties are and suggest what form of cover would be needed and recommend suitable providers.
Knowledge: The IFA was clearly experienced and knowledgeable from the type of questions he asked and suggestions he made.
Email/web presence:
www.pennymatters.co.uk
Verdict: A very professional receptionist who put the caller swiftly through to the relevant IFA. The adviser was chatty, which put the caller at ease. It was clear that the IFA was knowledgeable from the questions he asked and suggestions he made.
33/34
Lender – Aviva
Speed of response: Time of call: 12.24pm. Automated system; took ages to get the right department.
Telephone manner: Friendly.
Relevant qualification: Unknown, as staff do not give advice.
Payment method: Purchase of product.
Guidance given: The relevant department said the caller could fill out the medical and lifestyle questions over the phone or online. Once the form is complete, the system would then suggest the relevant product and its cost.
Knowledge: Staff were knowledgeable in the field, but it appeared the process is quicker and easier online rather than over the phone.
Email/web presence:
www.aviva.co.uk
Verdict: It took nearly three minutes to be put through to the relevant department. Staff were friendly, but there was no point in ringing as the caller could fill out the same medical and lifestyle questions online.
20/35
