Your LifeTalk Insider #48

 Advertise | Facebook Group |
| Adviser Growth Community | Instagram | Melo

Welcome back…

From LifeTalk and Adviser Growth Community this week:

Thanks to everyone who has subscribed to LifeTalk Insider - Let’s get stuck in…

Exciting News for LifeTalk Members: Introducing our Partnership with Melo

Hello again…!

Twenty-four years ago the social media landscape was still in its infancy, but even then I had a vision for an online space where financial advisers could hang out, chat and support one another.

A kind of industry water cooler.

Some members of LifeTalk today (you know who you are!) were members of that original group on Ecademy.com which turned out to be the world’s first online community in financial services.

We then progressed to our own website, and for the last seventeen years our home has been here on Facebook.

It’s always been an important goal of mine that our community has a voice, and it’s exciting to see conversations in the group which discuss the bigger picture for the profession.

So now it’s time to make that voice heard.

We’re thrilled to announce a new chapter for LifeTalk as we partner with Melo, an innovative business lifecycle agency dedicated to helping financial planning firms build better businesses from launch to exit. This partnership marks an exciting opportunity for our group to play a pivotal role in shaping the future of the financial advice profession.

‘elo from Melo…

The Melo name may be new to you, but the names behind it will be familiar to most.

Melo was formed through the recent merger of The Exit Partnership, Change Squared and AspireExec, and brings together unrivalled expertise in recruitment, business growth and exit planning.

Many of you already know Brian Hill and Victoria Hicks formerly of The Exit Partnership who are popular members of this group. Brian is now Managing Director of Exits for Melo, whilst Victoria is Group CEO. Joining them from Changed Squared is Ben Wright, Fellow of the PFS and PFS NED, and Rachael Fennessey from AspireExec with twenty years experience building people strategies and coaching leadership in the profession.

Melo’s mission is to provide comprehensive support to financial planning firms, ensuring they have the tools and guidance needed to thrive in an ever evolving industry.

What this means for you

We want to reassure you that, other than our bright, fresh and exciting new look, the essence of LifeTalk stays unchanged. Our group will continue to be the supportive, resourceful and professional community you have known for the past twenty years.

While Melo will bring their expertise and resources to help our community flourish, the tone and feel of our group will remain the same.

In the coming months, we will be sharing some exciting ideas and initiatives that we have been working on with Melo which will be designed to enhance your experience and provide even more value to our members.

A word from Victoria – Group CEO of Melo

“We are so excited to be part of this incredible community. A huge shoutout to Phil for his leadership, and to you all for making this group what it is. I have complete respect for the ethos that has been carefully cultivated here, where support and collaboration are the cornerstones of your shared journey.

As we partner with LifeTalk our commitment is unwavering: to preserve the essence of what makes this community thrive, while actively contributing to its growth. To nurture this environment where knowledge flows freely, ideas are exchanged with enthusiasm and bonds are strengthened.

I would love to see this community evolve into the resounding voice of our profession, challenging, championing and innovating.

Keep doing what you’re doing!”

Your voice matters

The LifeTalk community has always been about collaboration and mutual support. As we move forward, we encourage you to continue inviting other advisers into our group. Together, we can ensure that LifeTalk remains a vital resource and increasingly the voice of the financial advice profession.

Thank you for your continued support and participation – we’re really excited about this development and look forward to the positive impact it will have on our community.

Regards,

Phil Calvert

Founder, LifeTalk

Luke and 60 others: Clients who smoke in meetings.

I’ve got the annual review with a very lovely client today. He’s a slightly odd chap in that he lives on his own, in his 50s, in a very VERY modest one bedroom flat… which he could afford to buy 10x over with his portfolio. Thing is, he sits there in this tiny living room chain smoking in my face throughout the whole meeting. Question…

John and 40 others: Does anyone have any ideas or options for my client?

My client is a UK tax resident and a high earner - Basic more than £175,000 - then more than £350,000 in shares, bonuses etc. His total taxable last year was c£625,000. What options are available to him for tax reduction, avoidance, and efficient ways for him to save and invest? He’s employed only, married with a stay at home, family supporting wife. Click…

Brad and 42 others: I would appreciate your recommendations on BR providers please. Thank you. Click…

Ed and 34 others: Just wondered what people’s views were on the timeline platform 3.0 announcement? Does having a platform tied to an investment solution worry you long term in terms of being tied in to one thing? Click…

Paddy and 31 others: Consumer duty question please.

New client has a number of investments, but one worth a little under 6 figures, so not huge but he has the funds on a well known platform and the advice firm have been charging him every month for what looks like at least 5 years.

He hasn't seen anyone in that time nor had a phone call etc. He ideally doesn't want to go down a full blown complaint but would like the money back for the fact he's not had a service that he's paid for. Is it as simple as just asking and if not going to the FOS? Anyone done it in practice. Click…

Christopher and 22 others: Smoothed funds.

New client is a perfect fit for a smoothed approach. Natural first port of call, Prudential. Except he's in an ISA and a SIPP on Aviva platform and I can't access Pru there. Anyone like to tell me what they think of any of the other smoothed offerings out there? Click…

Jim and 92 others [Poll] Crystal balls at the ready! What do you think the next government will do to try to close the public finances income/expenditure gap? Click…

Robert and 9 others: AI Tools for Meetings

Does anyone have any views or experience using PlannerPal and whether it's worth looking at to improve efficiency for annual review meetings?

We've been looking at the likes of Otter AI and Firelies in the last few days with a view to possibly using these to simplify meeting note taking and post-meeting report generation, but haven't started properly trialling these just yet. We've just come across PlannerPal after it integrated with XPlan last week, and seems on paper to be quite appealing and appears to address pretty much all of the concerns that we had with the others.

Does anyone use it, has anyone tried it and decided against it, or does anyone have any other suggestions for things to look at? Click…

Posts from Adviser Growth Community this week:

And our new look and name is now live...

Following on from this post a week ago, our new look and name is now live. We are now the Adviser Growth Community 🚀

The goal is to continue the process of differentiating this group from LifeTalk on Facebook and to build on the themes of marketing, lead generation and wider business and personal development for advisers and their support teams.

Come and join us…

Anyone surprised at this?

Half of IFA Firms Looking to Sell in Next Two Years - According to Gunner & Co., 50% of IFA firm owners plan to sell or arrange succession within the next two years, up from 42% last year. Retirement is the main reason (56%), but regulatory changes are also driving sales (8%). Click…

Strikes me this is a market offering real potential for advisers

Three in Five Homeowners Considering Equity Release for Later Life needs - The Equity Release Council reports that 61% of homeowners are considering equity release, up from 57% in 2021. This shift indicates a growing acceptance of later-life mortgages, with 39% finding them more common and acceptable.

Given these trends, the equity release market seems to present significant potential for advisers to assist clients in managing their property wealth and planning for retirement. Click…

Clients' behavioural biases

Whilst some planners like @Mike LeGassick have made this central to their proposition for quite a while now, just a couple of years ago behavioural bias wasn't really discussed/covered in our industry press. But it's great to see that it's much more common now, with an acknowledgement that understanding behavioural biases can really enhance our client relationships.

How do you spot and deal with behavioural biases in your clients' decisions? What tips and tricks have worked best for you? Click…

Told off in Nero for being on a Zoom call

So yesterday something new happened.

I was in my usual Nero cosy corner, I'd done a couple of hours writing and all was quiet, with just a couple of other customers. About 8.50 a lady sat close by eating her breakfast and working. 10 minutes later I started a quick Zoom call; lasting 20 minutes maximum. My headphones were in, and I was speaking at a respectful level, no different to if I were having a conversation with someone opposite me.

Then all hell broke loose… Click…

Why IFAs are joining Adviser Growth Community

Adviser Growth is a positive, supportive and vibrant community for forward-thinking IFAs, Financial Planners, Lifestyle Planners, Later Life specialists and other financial advice professionals.

It's a dynamic space where financial advisers and industry professionals network, share best practice, enhance their learning, ask questions and exchange ideas.

The focus of the group is on positivity and growth!

All members receive these great resources when joining:

• SIX full length pdf books (1,836 pages)

• Free Report: 2024 League Table of Adviser's Biggest Challenges

• Free 488 page eBook: Marketing and Lead Generation for Financial Advisers

• Free 60 mins training: How to Attract More of Your Ideal Clients

• Free Worksheet: How to Define and Market to your Ideal Client as a Financial Adviser

• Free 90 mins training: How to Attract More Clients Through Referrals and Introductions

• Free Referral Marketing worksheet

• And much more…

Come and join us! Click here.

Share LifeTalk Insider

Please don’t keep us a secret - pass this on to your colleagues - thanks in advance…

That’s it for this week…

If you have enjoyed LifeTalk Insider, please forward this to your colleagues and suggest they subscribe here

As always, thanks for reading and see you next time.

If you have adviser friends or colleagues, or office team members who you think would benefit from joining LifeTalk, please copy and send them this link: https://www.facebook.com/groups/AdviserLifeTalk

And visit and join our brand new group Adviser Growth here:

For Financial Advice Professionals

• Marketing consultancy, adviser lead generation training and conference speaking

• Presentation and public speaking skills coaching

• LinkedIn coaching for financial advisers - one to one and groups

• Book writing mentoring to financial advisers