The HumanSense programme from Canada Life has six modules which cover topics including understanding client behaviour, creating emotional resonance and visualising your future self.
The training was created to help advisers engage in deeper conversations with clients as well as build trust and have empathy to achieve better outcomes.
The course is free and will count for six hours of CPD training.
Canada Life: ‘Advisers need to consider their biases’
Keily Vanstone, head of marketing, brand and communications at Canada Life, said: “With the introduction of Consumer Duty, there has been a greater focus and need for advisers to actively consider and take account of their behavioural biases in order to ultimately achieve better customer outcomes. We wanted to offer support in this understanding and provide actionable insights for advisers to use in the financial advice sales process.
“Together with We Are IB, we have created a free e-learning programme, based on deep understanding of client behaviours. Our hope is that, alongside our existing technical support, HumanSense will offer insights for advisers to further develop their relationships with clients, whilst helping them to keep in step with Consumer Duty as well.”
Dr Simon Moore PHD, and CEO at We Are IB, added: “We know that there are cognitive barriers in the advice industry which are prohibiting advisers from having more human conversations with their clients. Traditionally, facts, figures, and jargon may be used in initial conversations as a means to try win a client’s trust. We also know from cognitive neuroscience that humans all make decisions primarily around how they ‘perceive they feel about facts and figures’ not on the actual logical interpretation of those facts and numbers. This, together with the learnings we’ve gained by looking at the behaviour of clients, shows that there is an opportunity for advisers to upskill in a non-technical space.
“Through our partnership with Canada Life, and speaking to advisers directly, we considered the most valuable tools that would be needed for them to understand the needs of their clients better.
“The HumanSense training will never replace the technical knowledge required for financial advisers – but it is our hope that it may complement what exists and engage both the rational and emotional decision-making system of clients.”
Lee Robertson, founder and CEO of financial planner Octo Members Group said: “This is a departure from the norm, certainly from a traditional financial services company, and the feedback from our members to date who have accessed the eLearning has been overwhelmingly positive.”
