ProtectionFeb 7 2018

Mystery Shopper: Income protection in Bath

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Mystery Shopper: Income protection in Bath

Guidance: The adviser said IP policies will not pay out because she has already been diagnosed with depression, so they will exclude any pre-existing conditions. He advised her to speak to her mortgage broker to see if they could find her relevant cover as they tend to deal with more niche providers. He also asked her to check her sick pay benefits with her employer. 5/5

Knowledge: The adviser sounded knowledgeable about her options, but she felt he did not make a big enough effort to consider which providers, if any, might suit her needs. 3/5


Email: 5/5

Verdict: The adviser answered quite a few questions the shopper had, but she would have liked it if he had gone a little further in trying to identify providers who might offer her suitable cover.



Adviser: Fidelius (formerly Moneywise IFA)

Address: Alexander House, James Street West, Bath BA1 2BT

Speed of response: 10.56am. A three-step process to get to an adviser was outlined by a receptionist. 2/5

Telephone manner: Friendly and professional. 5/5

Relevant qualifications: In the absence of an adviser, qualifications never came up. 1/5

Payment method: Payment was not discussed as the shopper was unable to speak to anyone that could give advice or guidance. 1/5

Guidance: The shopper was left waiting to speak to an adviser as a promised call from the new business manager never came through. 1/5

Knowledge: The issues of concern for the shopper were never explored. The shopper felt that the process to speak to an adviser was unnecessary and long-winded. 1/5


Email: 5/5

Verdict: The shopper failed to a qualified professional. The length of time it would take before she could speak to one was a little off-putting.



Adviser: Morgans Financial Group (independent)

Address: Morgans Ltd, 41 Gay Street, Bath and North East Somerset, Bath BA1 2NT

Speed of response: 11.13am. After being put on hold by a receptionist for 5 minutes the call then dropped out, the shopper got through faster the second time around. 1/5

Telephone manner: Friendly and professional. 5/5

Relevant qualifications: Diploma in Financial Planning and an Associate of the Personal Finance Society. 5/5

Payment method: Fee or commission depending on premium and type of policy. 5/5

Guidance: The adviser said that her diagnosis will have an effect on any cover she might end up with. He also urged her to find out about her work sickness benefits. The adviser said with a pre-existing condition it would be hard to find a provider, but not necessarily impossible. Additionally, if she was able to get cover, the longer the policy start date is deferred until the cheaper the policy will be. 5/5