Unlock confidence by getting comfortable with the uncomfortable

Some of the most successful protection advisers are those who have assertive conversations and tackle protection head-on, without fear of objection or failure.

Do you always have the protection conversation with your clients, no matter what? Protection as a non-negotiable is a common trait among top protection advisers, as revealed in our recent research, The Secrets of Protection Success.

This approach ensures clients are fully informed about the value and impact of having protection (or not having it) and could be a helpful practice to help you meet your Consumer Duty obligations.

The fundamentals of client conversations

Top advisers told us they see it as their “mission” to educate clients about the importance of protection. Assertive conversations rely on an interplay of several factors which help advisers go through the journey with confidence and resilience. It involves:

  • Including protection as a fundamental part of all financial planning
  • Integrating protection at all stages of the advice journey
  • Being comfortable with raising difficult topics because it’s seen as important enough
  • Working with the client to find financial gaps
  • Using a proven process to keep advice on track
  • Drawing on previous experiences and knowledge with anecdotal storytelling

Top advisers don’t avoid the conversation for fear of clients rejecting the idea of protection – they deal with it head-on. The fact they’ve raised the topic and informed their client about the potential consequences gives them peace of mind that they’ve done everything, too.

Building confidence and resilience

Advisers who are willing to have difficult conversations and risk failure have built resilience around their advice process. Knockbacks or objections don’t dent their confidence or enthusiasm – they believe in the need which naturally moves the feel of the conversation away from selling, and more towards doing the best for their client.

Their confidence is typically built on three elements:

  • Real belief – they’re convinced of the value and importance of protection
  • Process – they know what works for them when taking a client on the advice journey
  • Knowledge – they have an in-depth knowledge of products, the variations, and how it all fits together to meet their client’s needs.

Confidence with passion is persuasive and leads clients to accepting that protection is a crucial part of the picture. It becomes central to any client interaction, whether that’s directly with the adviser, or within the firm.

Turning protection into a ‘buy’, not a ‘sell’

When the adviser sees protection as part of the conversation, the client does too. After all, the client trusts their appointed adviser to give them the best and right advice. They become emotionally invested and are less likely to change their mind or cancel later on.

One adviser we interviewed as part of our research said: “I've heard that in the industry, people don't have the conversation. The starting point is you have to have the conversation. Otherwise there is no sale to be had, and actually it’s immoral not to have the conversation because the client doesn't know what these things are.”

Ready to find out more secrets of protection success?

We’re here to support you on your path to protection success by providing you with tools, resources and insights backed up by top protection adviser insights. Visit the research homepage to download the report and browse our expert toolkits and sales aids.