{"id":60493,"date":"2022-04-19T17:15:46","date_gmt":"2022-04-19T06:15:46","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=60493"},"modified":"2024-10-30T08:43:45","modified_gmt":"2024-10-29T22:43:45","slug":"condensing-risk-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2022\/04\/19\/condensing-risk-advice\/","title":{"rendered":"Condensing Risk Advice"},"content":{"rendered":"<p>Specialist consultant, <strong>Chris Unwin<\/strong>, has challenged advisers to reconsider how they structure their risk advice processes in the wake of more flexible client communication options flowing from the Covid-19 pandemic.<\/p>\n<p>For many years, Unwin &#8211; who works with advisers in helping them develop their soft skills repertoire &#8211; has advocated a 12-step client engagement process he says delivers great results in a win-win scenario for both advisers and their clients.<\/p>\n<p>Given the events over the last two years, however, Unwin has re-shaped and updated his message to advisers to accommodate what, for many clients and prospective clients, he says is now a much more acceptable remote style of adviser\/client relationship.<\/p>\n<blockquote><p>&#8230;there exists a great opportunity to re-think and condense an advice process that will continue to serve [clients&#8217;] best interests<\/p><\/blockquote>\n<p>While at pains to point out that some prospective clients &#8211; perhaps many &#8211; will still prefer face-to-face meetings with their adviser, Unwin says for a growing cohort of clients and prospective clients who are now much more comfortable (and competent) with video and other remote communication methods, there exists a great opportunity to re-think and condense an advice process that will continue to serve their best interests, while delivering a more efficient, repeatable and equally successful outcome for the adviser.<\/p>\n<p>Condensed from 12 steps, Unwin challenges advisers to now consider the following six-step client engagement process for risk advice when delivering life insurance solutions in the best interests of clients for whom remote relationships are now more acceptable:<\/p>\n<p><strong>Step One<\/strong><\/p>\n<ul>\n<li>Position protection within the context of their financial plan<\/li>\n<li>Timing: Off the back of the Financial Services Guide<\/li>\n<\/ul>\n<p><strong>Step Two<\/strong><\/p>\n<ul>\n<li>Preposition the \u201cWants Analysis\u201d<\/li>\n<li>Timing: Immediately after step one<\/li>\n<\/ul>\n<p><strong>Step Three<\/strong><\/p>\n<ul>\n<li>Preposition the \u201cPercentage Concept\u201d<\/li>\n<li>Timing: During the fact find when talking about the client\u2019s super<\/li>\n<\/ul>\n<p><strong>Step Four<\/strong><\/p>\n<ul>\n<li>Conduct the \u201cWants Analysis\u201d<\/li>\n<li>Timing: The fact find<\/li>\n<\/ul>\n<p><strong>Step Five<\/strong><\/p>\n<ul>\n<li>Present the Circle of Safety recommendations<\/li>\n<li>Timing: Second client meeting<\/li>\n<\/ul>\n<p><strong>Step Six<\/strong><\/p>\n<ul>\n<li>Trimming the platinum package to accommodate the budget<\/li>\n<li>Timing: End of the second meeting and between the second and third meeting<\/li>\n<\/ul>\n<p>Unwin stresses that some of the processes outlined above may differ &#8211; possibly substantially &#8211; from the processes advisers are currently using, but he says this doesn&#8217;t mean the adviser&#8217;s processes are out of date or that Unwin is right: &#8220;It just means that there is more than one way of creating a quality experience for your clients, always being sure that whatever process you choose to use is always successfully walking the tightrope between client friendly and compliant,\u201d says Unwin.<\/p>\n<p>For advisers seeking more details &#8211; and coinciding with the relaxation of restrictions across the country, Unwin is conducting his first face-to-face adviser workshops in two years, entitled <em>How to Gain Trust and Build Stronger Client Relationships<\/em>. Advisers can click their preferred state location below for the workshops, which he will be running on the eastern seaboard at the end of May:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.eventbrite.com.au\/e\/how-to-gain-trust-and-build-stronger-client-relationships-qld-may-2022-tickets-309159633787\" target=\"_blank\" rel=\"noopener\">Queensland<\/a><\/li>\n<li><a href=\"https:\/\/www.eventbrite.com.au\/e\/how-to-gain-trust-and-build-stronger-client-relationships-vic-may-2022-tickets-309165300737\" target=\"_blank\" rel=\"noopener\">Victoria<\/a><\/li>\n<li><a href=\"https:\/\/www.eventbrite.com.au\/e\/how-to-gain-trust-and-build-stronger-client-relationships-nsw-may-2022-tickets-309167316767\" target=\"_blank\" rel=\"noopener\">New South Wales<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Specialist consultant, Chris Unwin, has challenged advisers to reconsider how they structure their risk advice processes in the wake of more flexible client communication options flowing from the Covid-19 pandemic. For many years, Unwin &#8211; who works with advisers in helping them develop their soft skills repertoire &#8211; has advocated a 12-step client engagement process [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":60498,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6837],"tags":[],"class_list":["post-60493","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general","category-soft-skills"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/60493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=60493"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/60493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/60498"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=60493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=60493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=60493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}