Tenet: Advisers remain calm in the face of the pandemic

Jessica Bird

April 22, 2020


Adviser support group Tenet has reported that its members are remaining calm and pragmatic in the face of the COVID-19 pandemic, focusing on supporting clients, business diversification and planning for when restrictions are lifted.

Mark Scanlon, chief executive of Tenet, said: “What we have found is a very considered and calm group of people, who are in fairly good spirits, despite the real difficulties that we all face.

“This is a situation that advisers have planned for and the biggest take away for me is that their clients are remaining calm, which is a huge credit to all the work our members have been doing over the last number of years to professionally manage their clients’ affairs.

“At the end of this, I think the role that an adviser or broker plays is going to be far better understood and appreciated.

Following the introduction of remote working and social distancing regulations, Tenet implemented virtual meetings with its adviser focus groups.

It also launched a series of live video conferences with senior leadership, to help understand and support them through the current challenges.

Tenet has also launched a COVID-19 extranet area in mid-March and moved its events programme online, with nearly 1,000 advisers now regisetered for the interactive sessions.

The group is further launching a support line, allowing members to access professional counsellors or information specialists to discuss both physical and mental wellbeing.

Scanlon added: “I think the [Financial Conduct Authority (FCA)] should be very pleased with what our industry has, and is, able to deliver.”

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