Pink and Aviva launch 12-month protection academy
Following concerns about advisers selling protection products post-RDR, two providers partner up for education drive.
Pink and Aviva have launched a protection academy aimed at mortgage advisers who will be focusing on protection post-Retail Distribution Review and advisers new to the industry, to provide them with in-depth training on how to sell protection products.
The aim of the academy is to create protection “experts”, the firms said in a statement. The training will take place over a full 12 month programme including face–to-face workshops, online training and meetings offering additional support.
Many have suggested that post-RDR, it is expected there may be an influx of advisers to the protection space, with some suggesting this will be driven by the fact that protection sales are exempt from the Financial Services Authority’s ban on commission.
Protection advisers previously told FTAdviser that providers and life offices should be offering education in this area to prevent mis-selling and mistakes being made through lack of education.
Mark Graves, head of sales at Pink, said: “Protection sales are key to the future survival of advisers, however protection sales require very different sales skills to selling a mortgage.
“Selling a mortgage is very transactional, people come to you with a need; it is very rare that someone will come to an adviser looking to buy protection, usually it needs to be sold and advisers need to be expert in ‘soft’ sales skills in order to be truly successful at this.
“It is rare that advisers are trained in these skills nowadays so Pink and Aviva’s Protection Academy is looking to plug that gap.”
Louise Colley, head of protection sales and marketing at Aviva, said: “At Aviva we are wholly committed to helping consumers understand the financial and emotional risks they are undertaking without financial protection in place.
“Working together we will utilise the extensive Aviva collateral, designed to motivate and engage advisers about the importance of financial protection.
“By advisers asking their clients ‘what makes family life special?’ it will allow them to have deeper and more meaningful conversations. This will enable clients to recognise the need to safeguard what most important to them now and in the future.
“We are really excited about this initiative which will no doubt result in more consumers being financially protected.”