Ahead of this month’s financial planning seminar with Dougie Moir, we’ve put Dougie under the spotlight to ask him key questions about training and being part of The ER Network. 5 questions in 5 minutes with the man behind ER’s training support for members.
Q1. You’ve been with The ER Network now for 7 1/2 years. What do you love about being part of the network?
The reason I enjoy being part of ER is the fact that you are part of a group of people who help each other. You can phone anyone within ER and ask advise or just obtain some guidance or re-assurance on a case that you are working on. You are never left on your own to place a case. Even though I am training and development manager I call brokers all the time within the network to discuss either a case of my own (especially mortgages) or other brokers cases. I personally enjoy the regular training meetings we have as it keeps me focused on assisting and hopefully helping the ER advisors.
Q2. Training and having the latest information is obviously an important issue in the financial services world, so how do you go about staying up to date with all the changes?
One of the benefits of not only being training and development manager at ER is also the fact I am still a Financial planner and I still see clients every week. This helps me keep up to date with all the changes in financial services which is beneficial not only to me ,but my clients and the other financial planners in ER. One of the benefits of ER being part of Intrinsic is that they are up to date in FCA regulation and compliance.
Q3. You’ve got a seminar coming up this month for members, what’s due to be covered at the event?
At our next seminar we have the following items on the agenda.
- Financial Crime update from Intrinsic
- Henderson fund manager presentation
- Santander strategic review of the mortgage market
- Protection sales presentation by Aegon
- General insurance proposition by Legal & General
- Pension transfers by Rachael pike and myself
- Lord Sandy Leitch closing the meeting
Q4. People often say one of the benefits of being part of the ER Network is the training support on offer, which may not be available at other financial services firms. Do you think the additional advice and support through training is helping financial planners provide additional services and better meet the needs of their clients?
When I was a member in a previous life with other financial services firms you were basically left on your own to get on with it. If you phoned anyone up you were told that you were the advisor get on with it. Some times you need to bounce ideas of a colleague to get another view and this is a major benefit of ER
Q5. What do you think are the most important training issues facing financial planners in today’s challenging climate?
Advisors in the main will go to product presentations and will obtain the key features and benefits of the product. However some less experienced advisors need to practice how to put the benefits across to clients in terms that the client understands and that the plan fits their needs. Some advisors practice in front of their clients and then they do not understand why the client says no. A benefit of role plays either on a one to one basis or in meetings is that you can practice things like introducing the service you provide, how you introduce your fees, handle any client objections etc. it is much better to practice in a safe environment and when it does not cost you in the pocket. The more you practice the better you get – Simple.