Sesame Bankhall Group has signed up 750 advisers to a campaign which it hopes will help advisers write more protection business.
Last week (February 24) the network launched a handful of practical support guides as part of a campaign, called ‘Protection Pledge’, which was launched off the back of challenges identified by advisers that have prevented them from writing more protection business.
Challenges identified and addressed by the guides include how to explain protection to clients, how to actually make a protection recommendation, and getting a handle on the underwriting process.
To help with these, Sesame Bankhall has published a white-labelled consumer guide to protection which advisers can use to present and outline the options to customers in plain and easy-to-understand language.
Then for advisers only, it has published an overview of product, price, underwriting and service - which it said are the four key factors in any protection recommendation - as well as a “step-by-step guide” to the underwriting process, including tips to speed up the process.
“The onus on advisers to have these conversations will increase further through the implementation of consumer duty, as the FCA [Financial Conduct Authority] looks to ensure businesses are helping provide better outcomes to customers and safeguard them against foreseeable harm,” said the network’s protection head, Emma Thomson.
“Over 750 advisers signed up to our campaign and pledged to have a protection conversation with every customer, so we know the appetite is there.
“Now that our campaign has identified the key protection challenges advisers are facing, boosting their knowledge, skills and confidence is the natural next step.”
One firm which makes up the 750 adviser number, New Leaf Distribution, said the consumer guide to protection Sesame has launched is “one of the best I’ve seen as a summary for customers, and it can be white labelled too, which is a real bonus”.
The firm’s managing director, Daniel Hobbs, added: “Once a customer truly understands the reassurance that can be gained from protecting themselves and their family’s future then the benefits to all become abundantly clear.”
Sesame Bankhall, which includes the Sesame Network, Bankhall, and PMS Mortgage Club, reaches some11,000 financial advisers through its appointed representative model.
ruby.hinchliffe@ft.com
