Wealth manager St James’s Place will offer access to its financial adviser virtual reality empathy training to non-SJP trainees through two VR in-person sessions through the Chartered Insurance Institute (CII) in May and June.

SJP’s technical connection specialists will run the sessions, which aim to build vulnerable client support and soft skills in line with Consumer Duty.

Current CII and non-CII members who are in financial adviser or client-facing financial services roles will be offered a blended learning approach, using in-person workshops and soft skills training, coupled with an immersive hands-on experience using VR and AI technology.

The aim is to create realistic, interactive scenarios and help delegates learn to navigate complex client situations sensitively. 

Two pilot half-day sessions on 29 May and 20 June are available on a first-come, first-served basis through a link on the CII website, with 15 places for each session available at up to £325 using Oculus Quest 2 VR headsets supplied by SJP. 

The vulnerability VR empathy training programme aims to improve advisers’ awareness of interacting with clients in vulnerable circumstances, particularly in the light of Consumer Duty requirements, to develop adviser-client relationships within the financial services sector and foster deeper understanding, awareness, and empathy. 

Edward Grant, director of SJP and director of technical connection, said: "By integrating empathy training into our vulnerable client programme, we are ensuring that advisers across the profession are equipped to handle diverse client needs with care and sensitivity."

Gill White, chief customer officer, CII, said: "Developing new ways to understand and meet the needs of all consumers, especially those that are vulnerable, is a true sign of professionalism and helps to build client trust. These sessions will help attendees stand out in their profession for their ability to support the widest range of clients, including those encountering cognitive decline."

The choice of VR as a learning platform to deliver empathy training complements the findings from a recent PWC study, which found “using virtual reality to train our people was more effective than classroom and e-learning settings at teaching soft skills concepts”, with the "v-learners" feeling 3.75 times more emotionally connected to the content than classroom learners, and 2.3 times more connected than e-learners. In addition, v-learners were four times more focused than their e-learning peers.

The sessions will cost CII members £275 and non-members £325. At the end of the course, attendees will receive a certificate of attendance from the Chartered Insurance Institute.

Last month SJP announced its first its first TV sponsorship deal as it aims to increase its brand awareness. SJP’s partnership with Sky Arts launched on 1 April.

The SJP brand took a few hits in the first quarter of this year. Most recently the wealth manager said it had set aside £426m to deal with client claims about historic ongoing advice after a surge in complaints in late 2023.

The firm, one of the biggest wealth advisers in the UK with around 5,000 partners, said it had seen a string of complaints, many from complaints handling companies, that ongoing advice which should have been given to clients had not been provided to the level expected.