Mystery Shopper  

Mystery Shopper: Bristol

Guidance: The adviser said it was unlikely that the company would suggest the shopper invests all their money in one asset class. He said when purchasing gold you must invest with a longer-term mindset. He said investing in gold was only safe if there was a long enough time period involved. He said given the shopper’s risk-aversion, they would be better off investing in companies that have a potential for growth over a longer period than in investing primarily in gold. 5/5

Knowledge: The adviser demonstrated very good and balanced knowledge on when investing in gold makes sense and on other investment products that yield above-average returns with lower risk. 5/5

Website: http://www.ovationfinance.co.uk/

Email: tommorris@ovationfinance.co.uk. 5/5

Verdict: (Shopper’s choice) The shopper was told of the risks of being invested in gold and was warned not to “put all their eggs in one basket”. The adviser spoke about other investment opportunities that have the potential to deliver yield but at a low risk. 

34/35

 

Adviser: Blue Wealth (independent) 

Address: 3 Westbury Mews, Westbury-on-Trym, Bristol, BS9 3QA 

Speed of response: At 11:56am the shopper was transferred immediately to an adviser. 5/5

Telephone manner: The adviser was polite. 5/5

Relevant qualifications: Level 4 Dip PFS. 5/5

Payment method: The adviser said with an average client investment of £250,000, a fixed fee is normally charged. He added that a percentage-based fee may be levied as a percentage of the assets the company takes on. 3/5

Guidance: The adviser said the shopper should come for a face-to-face meeting before he can discuss anything. He said the first step would be to complete a risk assessment/questionnaire, so that the company can assess the shopper’s attitude to risk. The adviser said he would not generally recommend investing in gold as it gives no protection against inflation. 4/5

Knowledge: The adviser gave the shopper a good reason as to why she should not invest in gold, and appeared to follow a logical approach. 4/5

Website: http://bluewealth.co.uk/

Email: dan.britton@bluewealth.co.uk. 5/5

Verdict: The shopper wanted more guidance, but was pleased that the adviser highlighted a key risk of investing in gold. 

31/35

 

Adviser: Sovereign Independent Financial Advisers (independent)

Address: Unit 4, Thornbury Office Park, Midland Way, Thornbury, Bristol, BS35 2BS 

Speed of response: At 2:59pm the shopper was first transferred to the switchboard, asked a few questions, and then transferred after quite a few rings to the adviser. 3/5 

Telephone manner: The adviser was friendly, but slightly less so compared to other advisers. 4/5

Relevant qualifications: Level 4 Dip PFS. 5/5

Payment method: He said a minimum fixed fee of £1,497 would be charged for conducting an assessment of the shopper’s personal situation and potentially a 0.5 per cent fee after that. 5/5