IP taskforce roadshows to boost IFA confidence

29 October 2009 | By Tracey Scott

The Income Protection Task Force is running a series of roadshows next month.

The two-hour sessions will run across the UK and will be delivered by a selection of IPTF members. Venues are yet to be decided and will depend on adviser demand.

IPTF member and roadshow host Master Adviser IFA Roy McLoughlin says: “The purpose of the roadshows is to increase awareness of income protection and to aid in the training and development so IFAs feel more confident and more at ease in advising on IP.

“We do not have a timeframe on when the series of roadshows will end, they will continue running for as long as advisers want them to. The IPTF would really like to hear from advisers who are interested in this training.”

McLoughlin says the IPTF hopes to show how to sell income protection ethically, profitably and in a compliant manner and show advisers how they can reduce time spent

on submission and underwriting income protection.

So far, the IPTF has held two trial sessions at Savills Private Finance in London.

Savills Private Finance executive director James Rodeo says: “The feedback from the two sessions was extremely positive. Several of our brokers commented that, as a result of the protection presentations, they felt much more confident and competent in advising on such a crucial subject such as IP.”

Direct Life and Pensions Lifequote key accounts manager Phil Jeynes, who attended a trial roadshow, says: “The content was very generic and interesting for anyone keen to learn more about income protection. I am considering rolling out this training with some of our key partners in the near future.”

Highclere Financial Services partner Alan Lakey considers the roadshows should give advisers the confidence to approach clients with protection proposals, particularly in the corporate market. He says: “These should prove massively valuable. Many advisers have forgotten the nuts and bolts of income protection and may have been concentrating on investments and pensions. If one is held near me, I will attend.”

Lifesearch senior policy adviser Matt Morris says not enough advisers push income protection in the way they should. He says: “I think a concerted push by the IPTF, with the backing they have, could make a big difference to boosting a very undersold protect.

“Now is the right time as the mortgage market has still not fully recovered and IFAs are paying attention to protection in a way they have not been doing for a long time.”

 

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