Your LifeTalk Insider #41

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Welcome back…

From LifeTalk and LifeTalk Plus this week:

LifeTalk and 38 others: What's the ONE problem that most financial advisers want solved? Click…

Brian and 17 others: Which of these legends is a bad idea for face to face client meetings? Click…

Ian and 80 others: Those of you who run your own portfolios of active funds or switch clients in and out of sectors and/regions, do you have specific PI insurance and/or specific permissions?

Met a chap yesterday who took all clients to cash in jan 22 and brought them back in august and wondered what his complaint book might have looked like if it had gone the other way.

Are clients just accepting of the extra risk? Click…

Howard and 10 others: Does anyone have a template (or perhaps there's some software) to help develop a structured mentor program for an adviser who's fresh to the business? I'd like something a bit more comprehensive than "Let's have a chat every Monday morning"! Click…

Jane and 19 others: Pot for life - question to anyone who isn’t WPP provider of AE advisor- what is wrong with the idea? If employee can join default scheme or request payments to own pension pot- what is actually the issue- and don’t say difficulty paying multiple pensions as I don’t believe that as they can pay multiple individual bank accounts. Click…

LifeTalk member and 15 others: I am a solo adviser with a large network. DA looks a difficult challenge. I was looking at ValidPath as an alternative. I have read some positive comments on ValidPath, appreciate if anyone has anything to add, good, bad, ugly I should be aware of. Click…

Garry and 7 others: What are advisers doing to monitor and demonstrate value to clients regards ongoing fees and Consumer Duty? Click…

Vulnerable Clients

New tool helps financial advisers to recognise vulnerable clients - take a look here…

LifeTalk and 115 others: Membership of this group suggests that there is strong growth in the number of female advisers and planners joining the profession. But attendance at many industry events suggests the opposite, as perhaps evidenced by this image and every other photo I take at adviser events.

Simple question, is the profession struggling to make our events more inclusive? Click…

Posts from LifeTalk Plus this week:

AI

How to assess the threats and opportunities of AI

Click…

Google reviews

Is this a legit way to get more and better Google reviews? Click…

Important Google update that advisers should be aware of

Google has unveiled a significant March 2024 search algorithm update, which aims to improve search result relevance and accuracy. The goal is to show better, more original content and cut down on spam in results. This means websites need to focus on presenting real, useful information to get noticed in search results. Read more…

What are your favourite podcasts?

What are your favourite Podcasts - business or non-business? Let's use this thread to put a list together that we can add to over time. Click…

Plannr

Hi , does anyone have any updates on using Plannr? Just been on a demo and it looks very impressive! Click…

Financial Planning should have more laughs

Here’s why (serious point). Click…

Consumer Duty - the reality

Now that we are living the reality of Consumer Duty, have you noticed a change in attitude towards client expectations? I have. I am of the opinion that we may start to see changes across all advisers. It may take a few years but I think all the following are possible:

1. Letting go of lower value clients
2. Raised minimum level of entry for new clients
3. Advisers shrinking their practices
4. A bigger move of assets to consolidators
5. Retirement of more advisers (again)
6. Redundancy of support staff (not yet)

What do you think the long term impacts of CD will be for people who wish to access financial advice? Click…

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That’s it for this week…

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