Friends Life has launched a new Online Life Stages Tool to help IFAs identify the requirements of customers at different stages in their lives, so that they can offer tailored advice to meet a variety of needs.
The Life Stages Tool follows on from an online selling techniques seminar and two social media guides which were launched by Friends Life earlier in the year, to help IFAs identify and reach key target audiences and thus boost sales.
'Working Women', a recent report undertaken by Friends Life as part of its Visions of Britain series, identified three core groups of women who are taking finances into their own hands: Savvy Sisters (women in their 20s), Thrifty Thirties (working mums) and the Golden Generation (older working women), all of whom are united in their concerns about their finances.
The Life Stages Tool for IFAs has identified four core customer segments that are not specific to gender: Young Singles, People with young children, People with older children and Couples without children. Each of these groups has different protection needs and the tool aims to help IFAs reach out to them in the most effective way.
Jamie McIver, director of protection sales at Friends Life, said:
"We all see evidence that lifestyles have changed in recent years - our Visions of Britain reports are validation of this. The likelihood is that clients' protection needs have changed too. This tool helps advisers to keep up with these changing trends and priorities and to ensure that all of their clients are adequately protected."
The Life Stages Tool features interactive pop up tips to help IFAs target these groups in the most effective way possible. In addition to that, it provides advisers with a background on each different life stage group, demonstrating how different protection solutions can be suitable for different life stages.
The Online Life Stages Tool is available to IFAs now and can be accessed at www.friendslife.co.uk/protection/lifestages.
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