Sandler selling regime research findings

Independent research into use of filter process questions to sell simplified investment products (“the Sandler suite”), published in December, found that in 80% of cases the recommendations were the same as a qualified adviser would have made or were otherwise ‘reasonable’. When asked if the filter questions were easy to understand, 98% said yes, 81% of these, who had received advice before, thought that the process was as good or better than their previous experience. 80% did not feel pressured to buy and 89% judged the interview not too long, the average was 22 minutes. 75% of consumers believed that the warnings about action which they might consider, such as setting aside emergency money and for mortgage repayments, was pertinent; it rose to 83% when the person faced a possible debt concern.The findings were based on 502 interviews conducted by sales people from regulated firms, generally without qualifications. They would need to be trained and competent if such a selling regime for simplified products was introduced.