According to the H1 ‘Temperature Check’ survey conducted by Air, Canada Life received a score of 8.35. The lender was closely followed by Pure Retirement and Legal and General, which received scores of 7.83 and 7.77 respectively.
Some 250 advisers representing 14 per cent of the sector took part in the survey.
Providers were also rated on their ease of application, speed of pre-offer processing and speed of post-offer processing. Canada Life came top in all categories with scores of 9.21, 8.29 and 7.95.
More2Life and Legal and General were also commended for their ease of service.
Legal and General was ranked second for both pre and post-offer processing speeds, while Pure Retirement came third for pre-offer and joint third with Aviva for post-offer service.
Canada Life came top in other categories including communication, online service and response time to queries. Advisers also ranked the lender as the one they would recommend, the lender who valued their business and went the extra mile.
Standard Life appeared in the survey for the first time, coming in third as the provider which goes the extra mile.
Legal rankings
The latest ‘Temperature Check’ asked advisers for their views on the service provided by legal firms for the first time.
Boyd Legal came top with a score of 7.77 and was followed by Gilroy Steel and Equilaw.
Stuart Wilson, CEO at Air, said: “The fifth iteration of the Temperature Check arrives in the aftermath of a challenging economic period. It is therefore heartening to see that many providers have risen to the occasion across several key adviser-focused services.”
Wilson said there was “always room for improvement”, especially considering the volumes of business which suggest 2022 will be a record year for the market.
He said the decision to ask advisers about legal services “felt natural” as these firms are a “vital cog in the later life lending machine”.
Wilson added: “We congratulate all the providers who ranked in the top three positions. Throughout the industry, average performance is on the up, and it’s undeniable that lenders are weathering the storm of shifting regulations and government restrictions to provide a slick and engaging service.
“However, a few providers have slipped slightly in a few of the performance categories, which may prompt some to consider how they use the feedback they have received to their best advantage. Our mission is to ensure every word of feedback is taken on board and channeled into making decisive improvements to elevate the experiences of advisers and ultimately customers.”
