St James’s Place has expanded its virtual reality adviser training through the Chartered Insurance Institute.
Current CII and non-CII members who are in financial advice or financial services roles will be offered a blended learning approach, making use of in-person workshops and soft skills training coupled with an “immersive” VR experience.
This aims to create realistic, interactive scenarios and help individuals learn to navigate complex client situations sensitively.
SJP director and director and technical connection, Edward Grant, said: “Our partnership with the CII signifies our commitment to leading and supporting the development of new initiatives to build consumer confidence and trust in financial advice.”
He added this was “particularly true” where financial advisers are increasingly dealing with clients in vulnerable circumstances, and lives being increasingly online with digital legacy to manage.
“By integrating empathy training into our vulnerable client programme, we are ensuring that advisers across the profession are equipped to handle diverse client needs with care and sensitivity,” he added.
The Vulnerability VR empathy training programme is aimed at enhancing advisers’ awareness of interacting with clients in vulnerable situations, particularly in the light of consumer duty requirements.
It also aims to develop adviser-client relationships within the financial services sector and foster deeper understanding, awareness and empathy.
CII chief customer officer, Gill White, stated: “Developing new ways to understand and meet the needs of all consumers, especially those that are vulnerable, is a true sign of professionalism and helps to build client trust.
“The CII is proud to be working with SJP to deliver these innovative sessions, which will help attendees stand out in their profession for their ability to support the widest range of clients, including those encountering cognitive decline.”
The expansion also includes two pilot half-day sessions, on May 29 and June 20 2024, which are available on a first-come, first served basis with 15 places for each session.
The sessions will be led and run by Edward Grant and his technical connection team and have been created by SJP’s learning and development training experts for the CII.
tom.dunstan@ft.com
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