Continuous learning: The key to success for Protection Advisers

Gemma Howley, Individual Protection Market Development Manager at Aviva, highlights how continuous learning is crucial for staying ahead of industry regulations, enhancing professional skills and building client trust. 

In the dynamic world of protection insurance, change is the only constant. The landscape is perpetually shifting, driven by new protection products, evolving customer needs, regulatory requirements and broader forces such as economic fluctuations or global events like pandemics. For advisers, adapting to these changes is not just beneficial, it’s essential. Continuous learning, whether for professional or personal growth, is the cornerstone of success. But it not just about the tick box exercise. There are many more benefits to be gained than just a certificate from taking the time to learn.

The role of CPD in professional growth

All advisers, as part of FCA requirements, need to complete a minimum of 35 hours of continuing professional development (CPD) each year for retail investment activities, including 21 structured hours. Structured CPD is an activity designed to achieve a defined learning outcome. Examples of structured CPD activities include participating in courses, seminars, lectures, conferences, workshops, web-based seminars or e-learning. All CPD should be measurable and capable of being independently verified by an accredited body (1). Alongside the regulatory requirements there are numerous other benefits when your make the time for development and learning.

Benefits of staying updated

Investing time in learning and development enhances your knowledge and skills, enabling you to provide better advice and increase client trust and satisfaction. Showcasing your up-to-date knowledge builds trust with clients and gives your business a competitive edge, helping you stay ahead of competitors. Staying informed about industry trends and developments is crucial for offering the best possible advice and solutions. Additionally, keeping up with regulatory changes is necessary to avoid legal pitfalls and maintain client trust.

Technological advancements also play a significant role in the advisory space. Embracing new tools and technologies can enhance service delivery, making processes more efficient and client interactions more effective. However, it's not just about professional skills. Personal skills, such as communication and empathy, are equally important in building strong relationships with your clients. Continuous learning, whether for professional or personal growth, is the cornerstone of success, offering benefits far beyond just earning a certificate.

Holistic approach to learning

Learning shouldn’t just be for CPD hours. There are many benefits from taking time to develop personal professional skills. This becomes even more important when you are a people leader. Historically called “soft skills” and now recognised as Emotional Intelligence (EQ) skills, the term covers a broad spectrum of abilities, such as communication, problem-solving, critical thinking, emotional intelligence, and teamwork. These skills form the foundation for leaders and their teams to build trust, foster cooperation, and achieve high performance.

Balancing learning with the day job

Managing learning and development alongside personal life is crucial for maintaining a healthy work-life balance. Effective time management is key; scheduling dedicated time for learning each week or month ensures it actually happens. Without planning, it's all too easy to deprioritise learning. Get started by creating a learning plan which identifies and focuses on your most critical learning areas for the next twelve months. Next, where possible, incorporate learning into your daily routines and work tasks. Utilising flexible learning options such as online courses and webinars. These are easy to access and don’t take you away from your day job for too long. Often, you can sign up for a webinar and watch it back on-demand at a time that suits your schedule..

Strategies for continuous learning

At various points in your career, you may want to dedicate time to formal education and training. This could involve spending days or even weeks attending courses, workshops, and seminars to develop both personal and professional skills. There will also be times when you engage in informal learning through online resources, industry publications, and peer networks. Mentorships and networking are excellent opportunities for learning from experienced professionals, broadening your perspective, and expanding your connections.

Creating a learning culture within your business is essential for encouraging continuous development. You can achieve this by providing resources and support, such as access to training programmes and learning materials. It's also important to recognise and reward development by acknowledging continuous learning efforts, both for yourself and your team.

Conclusion

In the ever-evolving world of protection insurance, continuous learning is not just a regulatory requirement but a vital component for success. By investing in both formal and informal learning, advisers can enhance their skills, stay updated with industry trends, and maintain regulatory compliance. This commitment to learning builds trust with clients, provides a competitive edge, and improves service delivery through the adoption of new technologies. Additionally, developing personal skills such as communication and empathy is crucial for fostering strong client relationships.

Balancing learning with daily responsibilities requires effective time management and the integration of learning into everyday tasks. Creating a learning culture within your business, supported by resources and recognition, further encourages continuous development. Ultimately, continuous learning is the cornerstone of success, offering benefits that extend far beyond just earning a certificate.

Expand your knowledge, keep up to date with important protection and wellbeing topics and add to your CPD hours via the Aviva Webinar Hub.

Source

1)       Professional standards: advisers | FCA  Financial Conduct Authority. Updated: 13/05/2024. Contains public sector information licensed under the Open Government Licence v3.0.