“The end of the tax year this year has been much busier for us, as people are wanting to make last minute pension or investment contributions, including a couple of new clients, as they appear to have more money due to spending very little in the last 12 months when in lockdown.”
Pickering added current issues that Verity Wealth Management was facing were poor service levels being provided by the companies, with large companies still attributing poor service to Covid-19 restrictions which was “totally unacceptable”.
“We are often waiting 40 minutes in a queue to speak to someone, then when you do get through, those answering phones have to call someone else more often than enough as they cannot answer your query, this often results in us being on the phone 60 minutes plus which is a complete waste of our time.
“IFA practices are still providing exceptional service to their clients even though the service we receive from providers is somewhat lacking. We feel sorry for some of the sales and broker consultants trying to attract new business when the existing business is letting their company down.”
Amanda Barnett, independent financial adviser at Grosvenor Consultancy, said it was “hard to look beyond lockdown and Covid-19" and that she was looking forward to the end of this period.
“The end of year rush is busy, no doubt. But I think it serves a purpose. Throughout the year, we strongly encourage our clients to plan and avoid the end of year rush. We work hard to help make this happen. However, we’re all human. Life is busy and it’s natural for one to be distracted. A deadline forces action, at least.
“We are fortunate to work in an adaptable industry, backed by strong IT. Clients have adapted to a new, more remote relationship. Providers have had to adapt too and have been innovative in doing so. We are still busy as a result.”
Ruth Gillbe is a freelance reporter for FTAdviser
