Too Cheeky (Requesting Umbrella Information)?

[Paralytic]

Looking ahead to next year, when one option open to me might be to move to an Umbrella, I fired off a list of questions to a number of Umbrella companies - both those only my current agency's PSL, and others. The questions were generic, around their margin, salary sacrafice/pension contributions etc, and asking for an illustrative quote.

Most provided answers to the questions and provide illustrations via email.

However, one responded

So that we can provide you with an accurate quotation in line with our compliance regulations we would need to go through everything over the phone initially.

Which I suspect is BS for wanting to get me on the phone and give me the sales pitch.

Was my response too flippant?

What compliance regulations do you have that the other Umbrella companies that have been able to provide illustrative quotes via email don’t?

I guess it could be internal compliance, and I suspect I'm now ruled out from using them, but it gave me a little amusement on a Friday afternoon.

Wonder if I'll get a response.

[lucyclarityumbrella]

What compliance regulations do you have that the other Umbrella companies that have been able to provide illustrative quotes via email don’t?

Absolutely diddly squat! The only thing they may need to confirm to provide you with an accurate figure is your tax code and potentially if you want to be very accurate to look at your earnings YTD. Other than that every company should provide you with the same figure apart from potentially their margin!

Be interested to see what they have to say

[WTFH]

It's possible that it's their way of stopping time wasters who just spam email all the umbrella companies with a generic email.

If you're purely driven by costs, will you automatically choose the one you consider the cheapest based purely on the email response? That's the sort of thing that gets clients Wipro when they really want good contractors.

[Paralytic]

It's possible that it's their way of stopping time wasters who just spam email all the umbrella companies with a generic email.

I guess if they regard some fairly basic questions about their service as spamming and time wasting, then they're not the sort of company I'd want to give my custom to.

If you're purely driven by costs, will you automatically choose the one you consider the cheapest based purely on the email response? That's the sort of thing that gets clients Wipro when they really want good contractors.

I'm not - I'm driven by their flexibility with regards to pensions, and quality of service. My findings are that they're all pretty similar with regards to costs.

Its interesting that off all the things I said I asked about, it was cost that you latched onto.

[Paralytic]

Be interested to see what they have to say

To be fair, I've just received a very prompt response:

Due to the fact we are a heavily regulated industry we as a company have compliance guidelines we have to follow, this includes an initial 5-10 minute conversation before we can send everything out by email.

It didn't actually answer the question and its carefully worded to make it sounds like its something they have to do, whereas its just their company policy.

They did provide the link to their calculator, but it does not provide any pensions options, which is why I had to email them in the first place.

Not a big deal though.

[WTFH]

I guess if they regard some fairly basic questions about their service as spamming and time wasting, then they're not the sort of company I'd want to give my custom to.



I'm not - I'm driven by their flexibility with regards to pensions, and quality of service. My findings are that they're all pretty similar with regards to costs.

Ah, so are you asking them to calculate based on multiple hypothetical scenarios?

Perhaps they want to talk to understand and advise on what they would consider the best scenarios.

If you've said "If I put £500 per month in, what figure is it" and "If I put £1,000 per month in, what is the figure then"? Perhaps they want to tell you that the optimum is £780 per month and explain why.

Of maybe make the question more generic... "I earn £12,000 per month, how would you advise to break that down to give me the best return?"

Different umbrellas will have different options, but certain parts will be similar for all of them. The difference will be things like customer service - is there someone you can talk to if you need to, or is everything just email, etc

[WTFH]

To be fair, I've just received a very prompt response:
"we as a company have compliance guidelines we have to follow"

...
It didn't actually answer the question and its carefully worded to make it sounds like its something they have to do, where as its just their company policy.
...

Not that carefully worded. They say they have guidelines.

Excellent, a company with standards and guidelines that they work to. Documented procedures. That's a good sign.

[Paralytic]

Ah, so are you asking them to calculate based on multiple hypothetical scenarios?

No, I asked specific questions about their service and for an illustration based on a tax code, a day rate and £3333 pension contribution each month (assuming they do salary sacrifice - their website does not say one way or the other).

It really was a simple request that other Umbrella's have managed to answer. As it is, I still don't know if they allow salary sacrifice pension contributions - that's a show-stopped for me if they don't. If they'd just tell me that, it'd save both me and them time.

[lucyclarityumbrella]

To be fair, I've just received a very prompt response:

Due to the fact we are a heavily regulated industry we as a company have compliance guidelines we have to follow, this includes an initial 5-10 minute conversation before we can send everything out by email.

There is no such compliance that requires a phone call! Although that said I would always pick up the phone and make sure you are comfortable with them, at the end of the day they are still handling your money

[Paralytic]

Not that carefully worded. They say they have guidelines.

Excellent, a company with standards and guidelines that they work to. Documented procedures. That's a good sign.

Give me a PM if you want to know who they are - they'll be keen to speak to you