What exactly is Triage? Effective,Education,Evidence


Here is an extract from CP18/07:

4.27 In our view, if triage is to be a non-advised service, it should be an educational process so that consumers can decide whether to proceed to regulated advice. Firms can achieve this by providing generic, balanced information on the advantages and disadvantages of pension transfers.

4.29 We consider that it would be good practice for firms to keep records where triage has been provided and the form that it took. This is likely to be in firms’ interests in case of future complaints.

There is nobody in the UK who knows more about pensions education that Expert Pensions. In fact, the pension education we deliver is:

Online video tutorials;
Independent and interactive;
Guidance, not advice;
Tracked learning activities to completion;
Quiz success as evidence of understanding
All recorded and reported as evidence of learning and understanding

It is what we have been doing for 10 years. Now we are turning our attention to your clients and delivering online education which can inform them to make better decisions about their pensions and retirement plans.

an educational process so that consumers can decide whether to proceed to regulated advice.

24/7 access for clients in comfort of their own home. No need for you to be there -It’s unbiased, online and can be accessed when it suits at the client. It’s more comfortable for them and takes up none of your time.

It’s unbiased old-fashioned teaching and education. It’s complex pensions in picture form. It covers all aspects, without bias.

Guidance, not advice
=It can’t be advice. It’s video. It’s generic. It’s education.

Educational triage
= It’s unbiased, education and information. The client decides whether to come back or not when he knows the difference between a DB pension and a DC pension.

We track everything behind the scenes. Everything. We know when you watched our video.

Everything is recorded. Everything. Every step. Every completed video and quiz.

This is what the FCA would say..’’ This is likely to be in firms’ interests in case of future complaints’’. Worth taking note of a word from the wise.

It must be completed. There is a completion certificate for each module.

It’s pensions in pictures. It’s complex made easy and in videos of 2-5mins each.

Evidence of understanding is proven by passing the quiz. Not just ordinary quizzes – interactive multi-media quizzes.

Effective. Education. Evidence
Now all you need to and is an online retirement income calculator and you have a one-stop classroom for your clients – and funny thing is, we have one that sits inside our triage process.

EP CALCULATE cashflow modelling is about one fundamental thing: they create a long term view of your financial health based on certain assumptions and then allow you to change some or all of those assumptions to observe the effects on that prognosis.

Here, in the simplest mathematical form possible, is the formula for creating that assessment:

Long term view = initial savings + growth of savings + deposits to savings


withdrawals from savings

That can only really be used AFTER the completion of the triage.

It can ONLY be used with confidence once an understanding of how risk, inflation, investment growth, charges and sustainability over your lifetime is established.

Your clients can check their own view of the future and how sustainable it is going to be.

Your clients will finish the course and come back to you better informed and be able to better define their own SMART objectives for the future.

Add these two services together and you have:

EP Triage = EPEducate + EPCalculate

Effective. Education. Evidence


About Author

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Dubbed by friends and colleagues “The Pensions Professor”, John Reynolds is widely acknowledged as one of the country’s leading experts in the financial services education sector. He has spent 20 years teaching, consulting, mentoring and writing on the subjects of pensions and investments. John’s unique ability to take his years of experience and technical knowledge and present it in an easy to understand format, has resulted in his talents being very much in demand. His portfolio of corporate clients include CII, Lloyds, Scottish Widows, Santander and Wesleyan; as well as numerous IFA clients whom he provides technical consultancy, mentoring and training on client case studies and staff training.. He has put his extensive expertise (and heart and soul!) into developing the expertpensions (EPL) proposition. EPL is a structured and interactive technical exam training programme for IFAs. It's designed to give financial advisors the required technical knowledge, study strategy and exam technique to confidently sit and pass the AF1, AF3, AF4 and AF5 exams. Its online, it's fully supported, structured and designed to help advisers reach Chartered Financial Planner status quicker. It's ready to help your advisers reach chartered status

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