IFA – Are my expectations too high?

Audaxer

DairyQueen wrote: »

I received an OOO reply advising that the IFA was on hols until the new year. Two days later a personal email was sent confirming his holiday plans and that he would be in touch after his return to work.

The fact he sent a personal email confirming his holiday plans and that he would be in touch when he returned to work, initially seems like quite good customer service.

That was the last contact from him.

I agree that seems disappointing following the initial contact. However there could be a number of reasons for him not following up that email when he returned from holiday. He could have some serious personal or business issue that has come up, or any other reason for not contacting you yet. If it was me I think I would give him a last chance by chasing him up by email or phone, and if he didn't respond or I was unhappy with his response or lack of apology, only then would I look for another IFA.

DairyQueen

There are many threads on the forum regarding IFA costs but I haven't read anything about service levels. This has definitely been of help to me and worth my time. I thank all for contributing regardless of opinion.

Unlike other professional fee chargers (accountants/lawyers), I don't have much experience with IFAs. I had therefore (perhaps erroneously) assumed that the service level would compare favourably. That had been my previous, although limited, experience.

My expectations are based around what I would do (and have done) in a smilier situation. My attitude was the same regardless of my employment status but, for me, it was especially important to offer clients flexibility and excellent service when self-employed. Clients can, and do, vote with their feet and new business was 99% received through recommendation.

My excellent firm of solicitors have set the bar high for service levels offered by professionals who charge fees. OH is also a professional fee-charger and is also self-employed. He wouldn't hesitate to take a day/two (let alone an hour/two) out of his down time/holiday to meet a client and, especially, a new client. That's the kind of service level offered by most self-employed people of my experience.

I guess that some people will go the extra mile, and some won't. IMO those in the latter category shouldn't be self-employed. If you want a particular work/life balance then let your employer take-up the slack in your absence.

People have mentioned that the quote sounded good. I agree. This may therefore be a case of you pays your money and takes your choice. If so, we would prefer to pay a higher cost and receive better service.

It has been interesting to read such different opinions. I assume that those responding are either IFAs or IFA clients. I have not rejected the idea of engaging an IFA, but not this IFA. If he can't meet our expectations when we are on the cusp of signing-up then there is zero chance that he will do so in the future.

HHarry

It may just be the case that he doesn't want to work for you.

The professional thing to do would be to let you know.
The easy thing to do is to just not call you back. And if he doesn't want your business he doesn't need to be professional.

wjr4

DairyQueen wrote: »

That's my point. The last communication stated that he would be in touch when he returned to work on the 2nd. Fair enough except that he has not been in touch.

I do not expect him to jump when I whistle but I would have been impressed had he taken an hour out of his holiday to meet us as he knows that OH's availability is limited. That would have demonstrated a level of service that exceeded my expectations. Alternatively, he could have suggested a date to meet very soon into the New Year. Instead he has chosen to leave me hanging.

He has given a loud message that he considers his time to be more valuable than mine (and OH's). That is simply not good enough. As you say, meeting customer expectations is key in any service role, and the aim should be to exceed them.

The forum has answered my question. Thank you.

Whilst I was supportive of your original post and understood where you are coming from, this I completely disagree with!
I have clients who ask to meet me before 9am, after 5pm and on weekends. I say no. We all need our own time for our sanity. Work comes second to mental and physical health for me unfortunately! Why shouldn't the IFA consider his time to be more valuable? What if he was dealing with his own personal issues? You have no idea what someone is going through and to assume he should take time off during his annual leave is absurd!!

Audaxer

DairyQueen wrote: »

I assume that those responding are either IFAs or IFA clients.

I'm not an IFA or an IFA client, but I was just interested in this thread from what you were saying about not being happy about the customer service you received. The only other observations I would make is that I assume you were happy with the initial chat with the IFA, you were happy with the quote, and I think you were happy with the fact he sent a personal email saying he would contact you in the new year when he was back from holidays. It just makes me think maybe something has happened like an administrative error on another unknown reason why he has not responded.

Whatever has happened you will never know unless you contact him by phone or email. If you do contact him he may surprise you by being very apologetic and offering to meet with you as soon as convenient to you. He may even surprise you by offering a discount in his fee - maybe that's a bit hopeful, but you never know. It just seems a shame to me to possibly lose what might have been a good relationship without giving him a chance to explain why he hasn't responded yet.

mgdavid

wjr4 wrote: »

Whilst I was supportive of your original post and understood where you are coming from, this I completely disagree with!
I have clients who ask to meet me before 9am, after 5pm and on weekends. I say no. We all need our own time for our sanity. Work comes second to mental and physical health for me unfortunately! Why shouldn't the IFA consider his time to be more valuable? What if he was dealing with his own personal issues? You have no idea what someone is going through and to assume he should take time off during his annual leave is absurd!!

well done for achieving a nice cushy little number that allows you to only work 9 to 5 and no weekends. Long may it last and I hope you never have to look for a job in the wider corporate world.

Fatbritabroad

HHarry wrote: »

It may just be the case that he doesn't want to work for you.

The professional thing to do would be to let you know.
The easy thing to do is to just not call you back. And if he doesn't want your business he doesn't need to be professional.

Reputationally i would say he does especially in a small village

wjr4

mgdavid wrote: »

well done for achieving a nice cushy little number that allows you to only work 9 to 5 and no weekends. Long may it last and I hope you never have to look for a job in the wider corporate world.

Every job I've had so far allows me to do this. I do not apply for jobs that want me to work at the weekend - it isn't hard? A 'nice cushy little number' is also the type of job 90% of my friends have, it isn't hard to find!

Dox

DairyQueen wrote: »

Good point, but would he need all of the paperwork relating to OH's old DCs, or would he approach the providers directly (with our letter of authorisation) for the info he needs?

As you can tell I'm pretty green where IFAs are concerned.

Either approach would work, but if he asks you to supply it, just scan and send (or photocopy and post). Most IFAs would approach the providers direct to ensure they have up to date and complete information.

Thrugelmir

mgdavid wrote: »

Long may it last and I hope you never have to look for a job in the wider corporate world.

Then at the the end of your career you'll realise it was all for nothing. People are expendable, just numbers on the payroll. Few are irreplacable.