Question Set Changelog

This changelog outlines all updates to the Elevation survey questions, grouped by the date they were introduced.

These updates are designed to improve the insight we gather and ensure firms can deliver great client outcomes. As part of our standard process, we regularly review questions to ensure that our question set fully addresses the factors below:

• The Consumer Duty - influenced by guidance from the FCA, feedback from advice firms and industry experts

• Feedback - from consumers, advisers and advice firms on the client experience factors that matter to them, question clarity and actionability

• Response data - in particular:

  • Statistical evidence that the client experience factors we measure influence the Elevation Goals (boosting conversion rates, encouraging advocacy and monitoring and improving Consumer Duty outcomes and cross cutting rules) 

  • Distribution of responses. Greater distribution reveals more opportunity for improvement

• Avoidance of bias

• Survey length - we focus on measuring the most important factors to maintain our industry leading (30-40%) average invite-to-completion rates

How did [adviser] or their firm earn money from working with you?

• They would charge me a fee

• They would charge me a fee, and earn commission from the product provider

• They would earn commission from the product provider

• Not sure

Did you ever have to chase the adviser or their team to get things done through the process?

• Never

• Rarely

• Sometimes

• Frequently

How responsive was the adviser / their team?

• Not responsive enough

• Quite responsive

• Very responsive

• Couldn’t have been more responsive

How easy was it to share documents with your adviser / their team?

• Not easy enough

• Quite easy

• Very easy

• Couldn’t have been easier

Would you let your adviser / their firm know about personal challenges (e.g. bereavement, health issues, relationship difficulties)?

• I would let them know, even if they didn’t ask

• I would let them know if they asked

• I wouldn’t let them know

Who will own the house after you move into long-term care or pass away?

• After the mortgage is covered, any remaining value in the house will go to the beneficiaries in my will

• The home reversion company will own part or all of the house

• The entire value of the house will go to the beneficiaries in my will

• Not sure

When will the product be repaid? (Select all that apply)

• When I die or move into long-term care

• Through my monthly repayment

• When I move home (excluding into long-term care)

• Not sure

• N/A – there is nothing to repay

Can a change in interest rates impact how much you or your estate needs to pay in relation to the equity release?

• Yes

• No

• Not sure

• Between scheduled meetings, in what circumstances did you contact [adviser]?

• How confident are you that you achieved the goals you worked towards with [adviser]?

• What topics did you discuss in your sessions with [adviser]?

• Who normally initiated communication between you and [adviser]?

What happens at the end of your mortgage term (e.g. after 25 years)?

• I will have a lump sum to pay

• I will not have a lump sum to pay

• Not sure

What would happen to your mortgage payment if your lender’s interest rates increased today?

• My monthly payment wouldn't change until the end of my fixed rate term

• My monthly payment wouldn't ever change

• My monthly payment would increase

• Not sure

When taking out your mortgage, did you clear any debts with the money raised? (e.g. credit cards or personal loans)

• Yes

• No

• Not sure

Would you still be able to make a claim on your insurance if you don’t keep up your payments?

• Yes

• No

• Not sure