At Financial Planner Life | Certified B Corp™, we’ve spoken to loads of Financial Services Professionals, many of whom have a hunger to continuously develop their skills, pursue new opportunities, and expand their horizons. Wealth Protection Adviser Adrian Benjamin CeMap is one of those people.
When we spoke, the focus of the conversation was based heavily on raising awareness of the crucial role that Protection Advisers play in securing the financial stability of clients and their families. So, you can imagine our excitement when seeing his appearance on the Legal & General Just Covered podcast with hosts Wayne Holcombe and Hazel Johnston ☂️, to talk about his transition into the world of Business Protection, what he’s learned along the way, and what advice he gives to those considering sharpening their skills in this field.
Adrian has lived experience of running a business, a trait that helps immensely when putting himself in the shoes of his clients when discussing their business’s needs around financial security. He says:
“When I used to contract in the city, I was a limited company director, so everything I’m saying to them I’ve done it; I know how you feel, you’re tired, self-assessment’s due at the end of this month, I know how you feel!”
There are many benefits to sharpening your Business Protection knowledge, let’s explore a few…
UK businesses, especially SMEs, are a vast market. Expanding into business protection opens doors to new opportunities, creating revenue streams and broadening your clientele.
Stronger Client Bonds
Expanding into business protection isn’t just about the money. It’s about offering more value to clients. UK business owners appreciate advisers who understand their world. By doing so, you build stronger client relationships, becoming their go-to for both personal and business needs.
Diversification is a smart business move. Moving into business protection lets advisers spread their wings, reducing reliance on a single niche. This not only safeguards against market ups and downs but keeps you relevant in a competitive field.
So, you’re thinking, “I want in!” but don’t know where to focus your attention first? Fear not, Adrian’s on hand to point you in the right direction…
“Business Protection, it’s not scary. Do the CPD, put the hours in and then you’ll get there! If anyone is just starting out, I’d say Relevant Life cover is the easiest win, as it’s not complicated.”
Once you’re clued up, and discovering different types of protection that can benefit your clients, now’s the time to take a look at your client bank to see where this newfound knowledge can be put into action! Many of your existing clients will own, or know those who own businesses, so make them aware of your additional services. It’s about becoming that ‘first person that springs to mind’ adviser for clients when they need you! Adrian experienced this first-hand, stating…
“I’ve had a client, who’s had a son, and at the time that we did the application, he didn’t want to do a trust. But later told me, you’ve reminded me to put the policy in trust for my son! …People are busy and things change… when the time comes, I’m making sure they fully understand it and I’m there to help them as well.”
And there you have it, getting your teeth into business protection can open up a world of possibilities for advisers looking to; expand their range of services, provide additional care to their existing clients, and be the go-to person in the future for business owners trying to improve their Financial Resilience!