Are you open to consider using nominated representative services as a way to support client retention?
- Yes (49%)
- No (47%)
- Not sure (3%)
In a very even outcome, there’s virtually a 50/50 split in adviser thinking when it comes to the prospect of utilising nominated representatives to support client retention.
As we go to press this week, 49% of those voting in our latest poll have indicated they’re open to the idea of using nominated representatives as a way to support client retention, while 49% have said they’re not, with the remainder yet to make up their mind.
As we noted last week, this poll is based around the initiative announced by Partners Life, which is finalising preparations to utilise trained team members as nominated representatives who may be able to have more expanded personal advice conversations with clients, especially as they relate to affordability issues and policy retention (see: Launch of Client Advice Support Initiative).
On which side of the fence do you sit? Do you see nominated representatives as adding value for you and your clients in helping to adjust policies or assist in reducing your lapse rates? It appears to be an initiative worth exploring – at least for half of the adviser community!
We’d love to report both perspectives – arguments from both sides of the fence – and welcome your thoughts as our poll remains open for another week…