Lowes Magazine Issue 127

COMMENT

Client satisfaction

Many clients will know that for over three decades we have been conducting a biennial Client Satisfaction Survey. This important tool provides valuable feedback on our level of service and performance, overall and in specific areas, and helps us to identify where we need to consider making improvements to our service. I am delighted that in the 2023 survey, the overwhelming majority of respondents, over 95%, rated Lowes as good or very good in almost every category. As a company that is very much focussed on providing both a friendly and professional service, two results that stand out for me, in addition to our knowledge, level of service and investment advice, are staff friendliness at 99% and professionalism at 98%. But maybe the most important marker for us is that 97% of respondents indicated they would recommend Lowes to friends and family. Over the years we have been building Lowes as a company. We now have a substantial, experienced team of individuals and specialists behind the scenes supporting our client-facing advisers, with the aim to provide an excellent level of service in all we do. We are grateful to every client who submitted their response to the survey and we are delighted with the results. You can read more about the survey results on page 8. We are always open to feedback from our clients at any time, so if you did not respond to this year’s survey but feel there are ways we might improve our service, please do not hesitate to contact me personally. July 2023 marked the 20th anniversary of the first structured product autocall. We immediately saw the potential of these innovative solutions and recommended the first one to our clients in 2003. Since then we have helped develop the sector through input into the design of improved products, many of which have been exclusively available to our clients. Having analysed and monitored every new autocall issued to UK retail investors, we have just published a guide to autocalls covering a 20 year review of their evolution. You can find more details and how to get hold of a copy on page 11 of this magazine. An area which has gained in importance over the past few years is inheritance tax planning. The Treasury’s tax take from IHT has doubled in the past decade to £6.7 billion. With the nil rate band tax allowance frozen for another five years, this figure is expected to continue to grow year on year as more and more people are sucked into this tax bracket. For many people it will be the increasing value of their property which helps take them over the threshold and into paying 40% tax on the rest of their life’s wealth. Of late, property market prices have been adversely affected, with predictions of a 30% or more fall in some areas, as mortgage repayments have leapt upward as a result of the Bank of England’s strategy to curb soaring inflation. But this should not lead anyone into thinking this will be a long term effect and will keep them out of paying IHT. History has shown us time and time again that not paying attention to IHT as an issue is

something we can live to regret further down the line. Addressing IHT as a potential issue needs to be pro-active, done sooner rather than later, and as part of the financial planning process is something with which we can help you. In closing, whether or not you responded to our survey this year, I would like to thank you for being a client of Lowes. We look forward to serving you for many more years to come. Ian H Lowes, Managing Director

Lowes.co.uk

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