Adviser: Buchanan and Associates Financial Planning (independent)
Address: 28 David St, Stonehaven AB39 2AL
Speed of response: 10.34am. Call answered by adviser. 5/5
Telephone manner: Friendly and helpful. 5/5
Relevant qualifications: DipPFS. 5/5
Payment method: Initial fee is no more than 1 per cent, but it is negotiable. 4/5
Guidance: The adviser asked the shopper about her understanding of investments before explaining how risk is assessed and the different types of investments available: Isas, pensions and general investment accounts. He went on to explain that ethical investments tend to cover two broad areas: avoidance of a company because its business model is not in line with the shopper’s ethics, or investing in a company where its ethics is directly aligned with that of the investor. 5/5
Knowledge: The adviser was very helpful. Although he did not advise on ethical investments on a regular basis, he offered to do extensive research for the shopper to find out more about funds that may fit her criteria, which would be discussed further at a face-to-face meeting. 5/5
Email: email@example.com 5/5
Verdict: Shopper’s choice. The adviser was professional, showed initiative and was prepared to share his insights with the shopper while leaving the door open to a future meeting.
Each week the mystery shopper seeks advice from independent 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.