Help us judge the best providers – have your say in our new awards

The Daily Telegraph - Your Money - - FRONT PAGE -

Founder of Bor­ing Money Holly Mackay ex­plains the im­por­tance of giv­ing cus­tomers a voice

Try­ing to pick the right on­line ser­vice to hold your in­vest­ments is a mine­field. With more and more dig­i­tal ser­vices fight­ing for the right to hold your Isas and pen­sions, peo­ple of­ten write to me suf­fer­ing from “paral­y­sis by anal­y­sis”.

That’s why this spring my com­pany, Bor­ing Money, is team­ing up with The Tele­graph to launch the Con­sumer In­vest­ment Awards. We want to know about your ex­pe­ri­ence of pen­sion providers. Which in­vest­ment ser­vices do you love? Which drive you nuts with Vi­valdi and end­less call wait­ing?

I’ve been track­ing these ser­vices for years and hold more than 25 ac­counts in the name of re­search. I find the cus­tomer ex­pe­ri­ence be­hind the scenes is of­ten very dif­fer­ent from the pub­lic prom­ises of ease, wealth and help­ful peo­ple to an­swer your phone call within sec­onds.

How­ever, this is still just my ex­pe­ri­ence. It’s far more mean­ing­ful to gather feed­back from a wider sur­vey of cus­tomers and to cel­e­brate ex­cel­lence along­side call­ing out dud ser­vice.

agers he y gi­neers th hures.

e fi­nan­cial com­mu­ni­ca­tion. Poor com­mu­ni­ca­tion mat­ters. It is the sin­gle big­gest bug­bear con­sumers have with pen­sions and in­vest­ments. A re­cent sur­vey we con­ducted with 6,000 UK adults re­vealed that 40pc of Bri­tons would find in­vest­ment ser­vices more ap­peal­ing if the providers talked about things in sim­ple English. A trusted brand to in­vest with was sec­ond in the wish­list. Per­for­mance clocked in fourth, with only about 30pc of peo­ple say­ing that re­turns of 15pc a year would en­tice them to in­vest. (For the record, I would bite some­one’s arm off for those guar­an­teed re­turns.) That clearer com­mu­ni­ca­tion is a higher pri­or­ity than ex­cep­tional per­for­mance shows how much peo­ple hate jar­gon. Lots of us have a pen­sion through our work­place, tak­ing the de­ci­sion over a provider out of our hands. How­ever, 14p 14pc of these peo­ple top up their wor work­place pen­sion sav­ings wit with a per­sonal DIY pen­sion. We’re in in­ter­ested to know your ex­pe­ri­ence of the on­line pen­sion op­tions, w which typ­i­cally of­fer a bet­ter ser­vice. se Of course, it’s not just ju new brands rev re­vamp­ing the e ex­pe­ri­ence. Our s short­list in­cludes some g global gi­ants, such as A Aviva, too. We want to know who you think is the best on­line in­vest­ment provider. We have drawn up a short­list of 10 providers, which are all awarded a four out of five star rating from us and/or have at least a 70pc rec­om­mend score by Bor­ing Money read­ers. But what do you think?

As well as the best over­all provider, we’re par­tic­u­larly in­ter­ested to dig fur­ther into both ser­vice and value for money. Quan­ti­fy­ing value is a devil of a job – cost is only one fac­tor in this equa­tion. Let us know your view.

We’d love your help in or­der to build a bet­ter pic­ture of who is do­ing a good job for cus­tomers. With­out feed­back from the end users, shabby ser­vice can per­sist and ex­cel­lence can re­main hid­den.

Vot­ing will close on April 29 and the win­ners will be an­nounced on June 6, on­line and at an event in Lon­don. We’ll share our find­ings with you to help shine a spot­light on ex­cel­lence and to give read­ers a bet­ter feel for what to ex­pect from dif­fer­ent ser­vices, be­yond any one in­di­vid­ual’s opin­ion.

Take part by vot­ing in our sur­vey, open un­til April 29; Holly Mackay, be­low

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