Telephone manner Extremely friendly and helpful. 5/5
Relevant qualifications Level four diploma. 5/5
Payment method Four per cent for full advice, 0.62 per cent for portfolio management through the Openwork online platform and additional 0.3 per cent for using the Zurich platform (0.92 per cent). 5/5
Guidance given The adviser said “some firms won’t even talk to you unless you have more than £100,000 to spend, we don’t take that approach here”. The shopper said Vanguard's online platform had been recommended to which the adviser said the firm was tied into the Openwork platform and explained the system was “easy to use”. He also offered the shopper a “full advice” managed fund offering at four per cent and then at a variable ongoing charge, but said that an online platform would work best for the shopper's needs. 4/5
Knowledge Extremely good and the shopper didn’t feel like he was being given the hard sell, as the adviser said that the automated online platform would be a smaller fee. 5/5
Email/web presence nigel@GriceAdvice.co.uk
Verdict If the adviser knew the shopper didn’t have the biggest investment stake in the world, he didn’t make him feel like it, also the various advice options were clearly spelled out.
Total Score 34/35
Hargreaves Lansdown
(Provider)
Speed of response (time of call) 11.30am. Answered after eight rings. 4/5
Telephone manner Friendly and willing to help. 5/5
Relevant qualifications A level four diploma; IFA only available on managed funds of more than £100,000 5/5
Payment method Online tracker funds between 0.1 per cent and 0.4 per cent and actively managed at 0.6 per cent to 1.7 per cent 5/5
Guidancegiven The shopper was told that through Hargreaves Lansdown investors have “access to 2,500 funds” with the option to manage the funds online through the Wealth 150 (a list of favourable funds compiled by researchers), multi-manager Portfolio Plus (Hargreaves Landsdown funds that invests in other managed funds) and Master Portfolio (made up of independent funds) platforms – all online brands through the company. 4/5
Knowledge Very knowledgeable about internal online fund platforms. 4/5
Email/web www.hl.co.uk 3/5
Verdict
The shopper was taken through all the available options by an upbeat representative. A bit shocked to find out about the £100,000 barrier before an adviser/person would be engaged.
Total Score 30/35
