The new service is now incorporated within MARS – and enables advisers to be more proactive when helping vulnerable customers, providing a real resolution to those customers’ issues. It joins a full suite of new upgrades, including appropriate treatments – or next steps – automatically triggered when customer vulnerabilities are detected.
This relieves advisers of the need to learn and understand the overwhelming multitude of potential vulnerabilities and treatments, allowing a firm’s vulnerability policies to be presented for each client at the point when they are required.
For more than 20 years, MorganAsh has looked after ill and vulnerable consumers – initially those claiming on critical illness or income protection products and, more recently, for corporates whose employees are off work because of health and lifestyle issues. During this time, MorganAsh has built a highly skilled team of nurses, whose role is to support these individuals – helping to get them back on their feet. Often, this involves engaging with other services including those from the NHS, charities or via value-added services from insurance products.
Andrew Gething, managing director of MorganAsh, explains: “Cases which need assistance are typically the more complex ones, involving a combination of issues – be they health, lifestyle, family or workplace. When there is a single obvious issue, then consumers know what to do. But when there is a combination of issues, people struggle far more – and this is where our nurse support service really comes into its own.
“The first and most difficult task is to understand the real issues. Sometimes this takes several conversations; listening and probing is the most important nurse skill. Then, using counselling techniques, the consumer is helped to see the woods from the trees.
“Within MARS there is already a wide range of treatments and mitigation steps that advisers can use themselves. We expect advisers to only need our nurse support services once or twice a year – and only when really needed – but it’s always available and a valuable safety net.
“Simple signposting may superficially appear to meet Consumer Duty regulations, but most professional advisers will want to assist clients more proactively at the time of need. Helping clients through such challenges is rarely forgotten – and nurtures long-term loyalty.”
Speaking on the new service, MARS user, Sam Whybrow of Thanks Wealth Planning said: “There are many occasions when I have felt at a loss – unable to help a client who is in real need of assistance. Being able to access this professional support service is really attractive and gives me confidence that I can deal with any cases of vulnerability.”
MARS helps firms to both understand and monitor vulnerable customers – and to deliver good outcomes – as required by Consumer Duty. Through clear and consistent assessments, businesses can identify vulnerability characteristics and generate an objective MARS Resilience Rating – much like a credit score.
In addition to advisers, MorganAsh has received positive feedback from consumers for its nurse services. A recent example of these said: “My life has dramatically improved, and I can honestly say I’m in one of the happiest times I’ve ever been. You played such a huge part in my recovery and I’m very thankful.”