View more on these topics

John Joseph on protection

For 12 years I have pleaded with the bosses of critical-illness insurers to set up training courses to assist us in learning how to utilise this exceptional product and to teach others. Year after year, they argue that they will not put up the money as they may not get any benefit.

These are the same companies that will spend millions of pounds on sponsoring football teams, sailing, golf days, racing cars and a host of events at which the chairmen and managing directors can be seen and admired.

Now ask them to sponsor – at a fraction of the cost – the training of IFAs to sell their products and there is a tightening of their collective sphincter muscles and a resounding silence.

The art of advising on critical-illness policies is becoming more complicated each day. Whole life, with or without death, rolling term, term, decreasing, fixed or reviewable premiums, interaction with income protection policies – the list goes on.

I am sure there are thousands of IFAs out there who have something to offer in terms of experience and who would be willing to share those experiences with others. As a profession, what are we going to do about it?

Not for one minute do I believe that I am the only one who reads this column, as I had one email last week agreeing with me on another subject. On the basis that I did not ask for that email, how about this for a challenge to you all?

I have a conference suite at my office in Borehamwood, Hertfordshire, which can take 50 IFAs for the day. I propose an all-day sales and marketing conference specifically on the subject of critical illness. The first 50 of you to email the address below will receive an invitation and, if the conference is successful, we will roll out the concept as a feature around the UK.

I will arrange a sponsor so it will not cost you anything (that should attract those who think everything should be free) but you will have to pay a deposit to secure your place. If you book it and do not turn up, you can kiss your deposit goodbye.

Please remember that it will take me some time to arrange the acknowledgements, so be patient. If we get inundated – that is, 51 replies – we will arrange an extra day.

The first conference will take place on Wednesday, March 24, with a 9am start and a 5pm finish. Those of you who have suffered one of my training days will know that it will start promptly, so anyone who arrives late misses out.

Is it worth it? If you register for the conference, I will send you the feedback from the Berkeley Berry Birch/Unum conference last year. You can make your decision then.

What is in it for us? We will all learn sales ideas, underwriting tips, compliance matters, how to research products, frontand back-office advice systems and, most important, lateral thinking.

We will share among each other the ideas and methodology that make us tick and successful at what we do.

The conference will make all of us a little wiser and, finally, it may just move those holier-than-thou managing directors with salaries that could settle a Third World debt to remember that it is us who put them in the driving seat and it is us who may just push the button for the ejector seat.

To reserve your place at the conference, please email me at conference@jjfs.com.

For all those managing directors who want to be seen to support such an initiative, you too can email me at that address and I will be delighted to take this discussion a stage further.

John Joseph is director of John Joseph Financial Services

Recommended

ABI welcomes international accounting standards

The ABI has welcomed the introduction of a new international accounting standard for share-based remuneration announced by the International Accounting Standards Board. ABI head of investment affairs Peter Montagnon says: “Share-based remuneration is not a free lunch. It involves substantial cost, and investors firmly believe that it should be charged to profits. We congratulate Sir […]

Platform launches new management development incentive

Platform&#39s managers are to train for the Institute of Leadership and Management team leading certificates. Platform hopes that by July, 30 managers will have gained the certificate. It says the course should improve employee performance through its focus on the specific role of team leaders. Managing director David Tweedy says: “This new people development initiative […]

Sofa sets course on charter flight

Former Britannic Retirement Solutions corporate development director Bob Bullivant is the new managing director of Sofa, replacing Brian Lawless who is moving at the end of this month to IFA The Jelf Group. Bullivant says he sees Sofa as the gold standard organisation for the professional adviser. He considers Sofa is one of the key […]

Providers say chance for change has been missed

Product providers have given a lukewarm welcome to the Pensions Bill, published last week, saying it offers some level of simplification of the occupational pension environment but lacks detail and does nothing to increase saving. They welcome the security that the new pension protection fund will give to final-salary scheme members and improvements to communication […]

Inheritance tax – How to declare and who pays

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays the tax. To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB is […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment