METLIFE EXPANDS FOCUS ON CAPACITY FOR LOSS WITH MASTERCLASSES

• MetLife supports SimplyBiz Learning and Development events

MetLife is expanding its campaign of support for advisers addressing clients’ understanding of Capacity for Loss with a series of masterclasses across England, Wales and Northern Ireland.

It is running up to 21 masterclasses on Capacity for Loss as part of SimplyBiz’s Learning and Development events. Capacity for Loss is defined by the FSA as a “customer’s ability to absorb falls in the value of their investments” and ought to be part of the advice process.

Intermediary Development Manager Richard Sheppard will present the masterclasses which run throughout January, February and March including events in central London at BlackRock’s HQ as well as sessions in Bodmin, Exeter, Belfast, Cardiff, Leicester, Sheffield, Norwich, Cheltenham, Southampton and Birmingham.

The sessions will focus on increasing and improving advisers’ knowledge of Capacity for Loss and how it differs from attitudes to risk; providing information to enable advisers to make it part of the advice process; and offering case studies on how it works in practice from an adviser and client point of view.

Research from MetLife has found that 69% of advisers are concerned they do not have enough information to fully understand how focusing on Capacity for Loss translates into

their business despite strong awareness of the concept and evidence they are already using it in conversations with clients.

Peter Carter, Product Marketing Director, MetLife UK, said: “There is strong demand from advisers for support around the Capacity for Loss issue and MetLife is committed to doing as much as possible to help broaden knowledge and understanding.”

MetLife has launched its own tool kit enabling IFAs to achieve a deeper understanding of a client’s ability to handle financial loss in the pre-retirement years. It includes a selection of on-line tools including calculators as well as an adviser guide and client facing sales aids, all of which have been developed in conjunction with Billy Burrows of Better Retirement Group.

Research supporting the launch shows 90% of advisers are aware of Capacity of Loss and 90% are using it in conversations with clients while 91% believe Capacity for Loss will be a major factor in determining clients’ requirements.

Details of MetLife’s Capacity for Loss toolkit can we found at www.metlife.co.uk/cfl and details of the masterclasses can be found on the Simply Events page on www.simplybiz.co.uk.