Guidance: The adviser said the most cost-effective solution would be chosen from a spreadsheet of the different providers and their products unless there was something specific she wanted to be covered, which could then warrant further research into the different products. He suggested a will was an important first step, and given she wanted to protect her children's future assets, it might be slightly more complex to draw up. He also warned the shopper to check all independent financial advisers' names on the Financial Conduct Authority's register, warning her of some unscrupulous practices, which the shopper found genuine, kind and helpful. 5/5
Knowledge: The adviser showed good knowledge of IHT and the challenges and initial steps involved in cost-effective estate planning, as well as the types of cover available and the interlinked relationship between the two. 4/5
Website: https://www.tpllp.com/
Email: alexshang-simpson@tpllp.com 5/5
Verdict: The adviser showed some knowledge of the situation and gave some good advice, but could not give any more details over the phone and suggested organising a face-to-face meeting. The adviser required some prompting, and the shopper felt as though she had to keep coming back to some of her questions to get a full answer, but nevertheless he was extremely polite and genuine.
33/35
Adviser: Optimum Independent Financial Advisers (Independent)
Address: 8-9 St Peters Court, Middleborough, Essex, Colchester, CO1 1WD
Speed of response: The shopper was transferred to an adviser within seconds. 5/5
Telephone manner: Extremely friendly, polite and professional. 5/5
Relevant qualifications: Level four CF30. 5/5
Payment method: The cost would very much depend on what would be involved. For example, if she was looking for investment-based advice, there would be a one-off fee; but if it was a protection-based policy, then it would be a commission. However, he could not give a range without more information. 4/5
Guidance: He said it was important to first look at what the shopper was trying to achieve so that he could make recommendations. He said a discussion in a meeting would involve the shopper’s objectives, and that they would conduct an assessment of her estate’s IHT position and the different types of protection policies and trust solutions available. He said everything needed to be joined up and it was extremely important for her to feel comfortable with the adviser she ended up speaking to once she booked a consultation, suggesting that a long-term relationship with an adviser would be key to ensuring her children's assets be passed on in the most tax-efficient manner. 5/5
