Money

IPAW 2024: advisers urged to put themselves in clients’ shoes

Published

5 hours ago

September 25, 2024

IPAW 2024: advisers urged to put themselves in clients’ shoes

Advisers have been urged to put themselves in their clients’ shoes during the protection advice process for a successful outcome.

The call was made on the second day of the week long Income Protection Action Week (IPAW) organised by the Income Protection Task Force.

The online Q&A webinar chaired by the IPTC co-chair Jo Miller alongside adviser and wealth coach Matt Chapman explored via a series of role plays the common mistakes advisers make while engaging with clients and the resulting lost opportunities.

The first role play shows a scenario where an adviser is more focus on Income Protection (IP) product rather than the client’s need and the language used employed industry jargon and terminology.

Chapman cautioned that advisers should focus on need rather than product and should aim to use simple language “to keep things relatable”.

He said advisers need to create that “core need in the first place” and “relate it back to the customer goals.”

The second role play shows an advice process devoid of passion and lack of engagement with the client.

Chapman urged advisers to “humanise” the IP advice conversation.

He said: “The humanising of the conversation is what gets the customer bought into the concept because you’re really demonstrating why it’s important and what you’re doing is in the client best interest rather than just going through a monotone presentation that’s boring.”

He added that using storytelling is “imperative” to “bring the emotion alive for the client and overcome their optimism bias”.

“We can all recount genuine stories where we have seen customers suffered hardships or go through difficulties. Everyone out there watching this probably know someone that has experienced serious illness or die prematurely.

“I think it’s about reverting to those stories, even probing the customer as to whether they know someone in that situation. Often that’s enough to spark that thought in their mind about what happened to that family when that situation occurred. They will see the benefit of what you’re recommending.”

The third role play showed a “patronising and pushy” adviser whose method is far removed from the rules of the FCA’s Consumer Duty.

Chapman said he hope this type of conversations are not taking place because the adviser in that scenario misunderstand their role.

“We see this a lot where you’ve got advisers who believe that the value of what they do is that they know something the customer doesn’t know. And they will chat to you in a condescending way.”

And the fourth role play looked at an adviser who brings up protection as a “bolt on option”.

He said he dealt with this category of advisers as part of his coaching work.

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Money

B&Q shoppers rush to buy 80p hot tub must have perfect for keeping away Autumn chill in 95% off clearance

Published

12 mins ago

September 25, 2024

NewsAdmin

B&Q shoppers have been hot-footing it down to their local store to bag a hot tub accessory which is ideal for the chiller autumn temperatures.

The homewares store is currently selling a “CleverSpa Grey Square Canopy” for just 80p each in a clearance sale, with the original retail price being £15.

B&Q originally sold the CleverSpa canopy for £15 but is now heavily reducedCredit: B&Q

That’s a huge reduction of 95 per cent.

The polyester canopy which fits over the top of a CleverSpa hot tub, shielding you from the elements, measures 75.5cm by 187cm.

However, the bargain seems to have been hugely popular already as currently B&Qs website says “this product is currently out of stock”.

According to the product description: “It will keep you cool on sunny days with 50+ UPF protection, keep you sheltered from the elements and provide you with a little privacy too!”

The canopy also has a mesh panel which “ensures that the wind doesn’t lift the canopy once in place”.

It also says the product can be easily cleaned with a wet soft cloth.

For comparison, B&Q is selling a “Lay-Z-Spa black and grey dome spa canopy” for £150.

We recommend you search on the B&Q website to see if the product is in a store near you, before making the decision to buy online.

To find your nearest outlet use the Store Locator tool on their website.

Shopping discounts – How to make savings and find the best bargains

It’s often useful to shop for outdoor items such as these at the end of the summer season, as they are much less in demand so are sold at much lower prices.

When searching for the perfect item, be sure to also shop around using the search tool and filter functions on a range of sites.

The price toggle when surfing websites is perfect for setting your own budget and shopping within a particular range.

The “sort by” tool can also be your best friend, allowing you to view the lowest priced items first, and spot all the best deals.

Comparing prices between websites also helps you make sure you’re getting the right deal for the right product.

How to bag a bargain

SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain…

Big names regularly offer discounts or special lower prices for members, among other perks.

Sales are when you can pick up a real steal.

Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on.

Sign up to mailing lists and you’ll also be first to know of special offers. It can be worth following retailers on social media too.

When buying online, always do a search for money off codes or vouchers that you can use vouchercodes.co.uk and myvouchercodes.co.uk are just two sites that round up promotions by retailer.

Scanner apps are useful to have on your phone. Trolley.co.uk app has a scanner that you can use to compare prices on branded items when out shopping.

Bargain hunters can also use B&M’s scanner in the app to find discounts in-store before staff have marked them out.

And always check if you can get cashback before paying which in effect means you’ll get some of your money back or a discount on the item.