Mystery Shopper 

Mystery Shopper: Derby

Mystery Shopper: Derby

The shopper is a mother-of-two, aged 40-years-old, who is getting a divorce and needs guidance on the division of assets. She was advised by a solicitor to speak with a financial adviser.

The divorce proceedings are at an early stage. Along with her husband they have two properties, worth around £350,000 each and a series of investments.

Adviser: Create Financial Management (Independent)

Address: York House, Stephensons Way, Wyvern Business Park, Derby, DE1 6LY

Speed: 10.38am. Did not introduce himself as an adviser, but did call back because he was in a noisy place. 4/5

Telephone manner: Friendly and polite. 5/5

Qualifications: Dip PFS. 5/5

Payment method: The adviser was unable to give an exact cost, but gave an example of fees. 4/5

Guidance: The adviser explained that the shopper should make a list of what assets she has individually and collectively with her husband.

This will also include pensions held by her or her husband. He will then be able to use the information to work out what service he can provide to her, for example, a pension transfer or a remortgage. 5/5

Knowledgeable: The adviser sounded knowledgeable and was friendly to the shopper. 5/5

Email: vince.savidge@createfm.co.uk

Website: www.createfm.co.uk 5/5

Verdict: The adviser behaved in a very professional manner towards the shopper.

33/35

Adviser: Derwent Financial Planning (Independent)

Address: Suite 2, Acorn Place, Alfreton Road, Derby, Derbyshire, DE21 4AS

Speed: 1pm. Call transferred to an adviser. 5/5

Telephone manner: Friendly. 5/5

Qualifications: Dip PFS. 5/5

Payment method: The adviser said they can adopt an hourly charge or fixed fee depending on nature of help given. 3/5

Guidance: The adviser explained that in a divorce the shopper should be thinking about pension and investment assets and added that the process would be a joined up approach between solicitors and the financial adviser. As the adviser, he would sit with her to better understand how the assets are currently structured. He will also look at any life insurance she has and plans for the property to better understand the implication of the settlement she has. 5/5

Knowledgeable: The adviser sounded knowledgeable about the divorce settlement process and the areas the shopper should be considering. 5/5

Email: darren.wheatcroft@derwentfp.co.uk

Website: www.derwentfp.co.uk 5/5

Verdict: The adviser was very helpful and spoke in a lot of detail about the shopper’s options.

33/35

Adviser: Orridge & Dunn Independent Financial Advice (Independent)

Address: 35 Iron Gate, Derby, DE1 3GA

Speed: 1.17pm. Call transferred to an adviser. 5/5

Telephone manner: Friendly. 5/5

Qualifications: MAQ and DipFA. 5/5

Payment method: The adviser said there would be a fixed fee, for example, £299 for a remortgage. 5/5

Guidance: The adviser explained that in a divorce the factors to consider include mortgages, investments and pensions. He further explained that legal issues would be handled by the solicitor, adding that it was unlikely she would need to see an adviser until she was further down the road in the divorce proceedings. At that point, the various areas the financial adviser would be able to help in would include remortgaging of properties and pension transfers. 5/5

Knowledgeable: The adviser behaved in a professional manner and provided the shopper with detailed information. For example, he also said that when pensions are being split up, she should be aware that the shopper would not receive the amount as cash. 5/5