Holloway Friendly launches adviser comms training ahead of Consumer Duty

Holloway Friendly has introduced a guide and training for advisers to make their communications easier to understand and more engaging.

The free adviser guide is supplemented by interactive training sessions which firms will be able to book their advisers on.

Consumer understanding is one of the four areas that the Financial Conduct Authority has asked firms to focus on as part of incoming Consumer Duty rules, the mutual noted.

In particular the regulator is emphasising how important it is that communications are easy to understand, so consumers can make the right decisions and get good outcomes, it said.

The society also released a short video to show how the public reacted to some examples of insurance jargon and alternative everyday language explanations.

Martin Sincup, head of marketing and propositions at Holloway Friendly, said: “The insurance industry, and financial services in general, does have a bit of a reputation for being difficult to understand.

“Some of that’s because we use a lot of jargon. So, part of our training focuses on how to recognise these special words and replaces them with everyday language. We include plenty of practical tips and a jargon-buster with examples.”

He added: “What’s in it for advisers? We believe clients are more likely to trust advisers who use everyday language, and the more someone understands advice, the more likely they are to act on it. It’s also a way to stand out from the competition.

“Plus, advisers can show they’re acting on the consumer understanding outcome of Consumer Duty.”

Roger Edwards, marketing director of Protection Review, added: “I’ve been on a career long mission to root out jargon and passive language.

“As well as the wins, someone always played the professional card, or compliance or legal people were convinced simpler language was going to leave them exposed in some way.

“Companies seem to have a long-term love affair with complex language, but the majority of customers don’t, so the mission continues.

“For advisers wanting to beat the bloat and communicate with their clients in a simple and engaging style, I recommend you check this out.”

 

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