Verdict: The adviser behaved in a fairly professional manner, but the shopper would have also liked a bit more information.
32/35
Adviser: Mitchell & Company (independent)
Address: Priory House, 45-51a High Street, Reigate, Surrey RH2 9AE
Speed of response: 2.53pm. Call transferred to adviser after one ring. 5/5
Telephone manner: Polite, but somewhat abrupt. 4/5
Relevant qualifications: DipPFS. 5/5
Payment method: £1200 to set up pension. 5/5
Guidance: The adviser explained that if the shopper wanted to start with an initial investment of £5000, the cost to her could be well over £1000, so it might be better for her to just go online and look for a stakeholder pension. He also told the shopper one of the best options would be for her to pick a global equity type fund and then nearer the time she wants to access the funds, look to derisk. 4/5
Knowledgeable: The adviser sounded quite knowledgeable, but the shopper found it difficult to understand terms such as stakeholder pension or global equity fund and he did not explain it clearly to her, despite her asking for an explanation. Also, she felt he could have given her some pointers on how to go about searching for a stakeholder pension online. 3/5
Website: www.mitchellcompany.co.uk
Email: ian.bailey@mitchellcompany.co.uk 5/5
Verdict: The adviser was polite but he did not give her much more information beyond telling her to go online herself and he also did not explain things in a simple way she could understand.
31/35
Adviser: Platinum Financial Planning & IFA (independent)
Address: Suite 3 / Grapes House, 79a High Street, Esher KT10 9QA
Speed of response: 3pm. Call answered by adviser after call transferred by receptionist. 5/5
Telephone manner: Friendly. 5/5
Relevant qualifications: DipPFS. 5/5
Payment method: The adviser said the fee would depend on discussion, but promised his fee would be competitive. 3/5
Guidance: After the adviser found out shopper was higher rate taxpayer and that she was registered with a limited company, he told her that she could make the pension contributions out of the company account, which would mean the company was entitled to corporate tax relief. Adviser also said that she would not be able to put in money into Lifetime Isa after the age of 45. 4/5
Knowledgeable: The adviser sounded fairly knowledgeable and the shopper felt he made some good points about using the company to make the pension contribution. Although adviser said shopper would not be able to put money into the Lifetime Isa after 45 she actually found out afterwards the age is 50. 3/5
Website: www.platinum-ifa.co.uk
Email: dennis@platinum-ifa.co.uk 5/5
Verdict: The adviser tried to be helpful but the shopper did not feel he spoke in a lot of detail.
30/35
