Guidance: He explained there were several tax-efficient ways to save or invest, such as premium bonds or stakeholder pensions, as well as a Jisa. But given the amount being invested, premium bonds could be the most suitable option, to avoid paying too much in fees. But he said he would need to sit down with the shopper to understand exactly what her needs were, to find out whether life insurance, life protection, critical illness or mortgage cover was most appropriate. 5/5
Knowledge: The adviser explained the different types of investments available, that there is no income tax or capital gains tax to pay on the interest or investment gains of a Jisa. Additionally, he explained that unlike other investments, where you earn interest or a regular dividend income, in premium bonds you are entered into a monthly prize draw where you can win between £25 and £1m tax-free. 5/5
Website: https://www.successionwealth.co.uk/
Email: banksifa@me.com 5/5
Verdict: Shopper’s choice: The adviser was friendly and polite, and offered suggestions the other advisers did not. He went more in-depth about the different tax-efficient investments and protection available.
34/35
