Your LifeTalk Insider #53

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Welcome back…

From LifeTalk and Adviser Growth Community this week:

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

Notice:  Join the LifeTalk Impact Team (L.I.T. 🔥) – where passion meets purpose! 🚀

Be part of the team behind the UK's original financial planning community, a free space brimming with knowledge and support. 🤩 Help us grow and make a difference! Apply now to join L.I.T. and take the LifeTalk community to new heights. 🌟 Deadline: Monday, 15 July. Click to learn more…

LifeTalk member and 45 others: How do you start out as a self employed adviser without any clients? Click…

Lifetalk member and 60 others: I am posting on behalf of my daughter - she is 17 and incredibly passionate about working in the financial industry.

She has already obtained her Level 4 Financial Advisor qualification from the LIBF and is currently working on her Level 6 qualification.

Despite her qualifications and the apparent shortage in the industry, she is struggling to find even a part-time job. I personally believe she would be an excellent role model for other young people, given her drive and ambition. Do you have any suggestions?

Chris and 42 others: If you were providing a pure financial planning report for a brand new client, say voyant, cashcalc, truth etc or similar and then walking them through the report what would you think is an appropriate charge for this service? Click…

Howard and 3 others: TheeeSixty have announced a sale to Fintel. Does that mean an amalgamation with SimplyBiz? Defaqto, Plannr links ahead? Click…

Philip and 27 others: Care home fees - do you model for them or not? Up till now I have been modelling about 50K for each person in care home fees for the last two years of their lives (with an increase every year of about 1% higher than inflation). Click…

🕵️‍♂️ Mystery Link… Click to view…

Dinesh and 18 others: Anyone here use Ignis Cash platform? It seems to be brilliant! Click…

LifeTalk: Discover the surprising age and gender breakdown of LifeTalk members! Click…

Neale and 21 others: If a life assurance bond is surrendered, and immediately reinvested in a new life assurance bond, does anyone have any info as to whether this would bring the capital into the grasp of the local authority, if the client requires care in future? Click…

Bhavisha and 2 others: Someone I know is working towards starting his own firm and is looking for insights from firm owners who are with Valid Path. Please could you share your experience and things he needs to be aware of. He is not in the group so asking on his behalf. Click…

Nick and 21 others: My client has £500k in a fairly newish GIA set up earlier this year. It's made about £30k so far. Given the cgt allowance, I'm considering the possibility simply encashing the whole lot, suffer a £6k cgt bill and putting the balance in an offshore bond.

My thinking is, if we keep the GIA the cgt position is only going to get worse, will take years to bed and ISA etc whereas the bond will benefit from gross roll up, be flexible to meet income needs, etc etc. Any thoughts…?

Ash and 8 others: I’ve a friend who has a property she still jointly owns with her ex husband. He has no interest in the property and is happy for it all to go to the children eventually. The property is mortgage free and worth about £550k. It was bought for around £115k originally.

My friend wants to downsize which I imagine would involve a transfer of equity which I’m lead to believe will create a CGT issue because they are not together anymore. Is there any way to mitigate this or is she better off staying in the property as is? Click…

Posts from Adviser Growth Community this week:

📈 Need free help with your marketing and lead generation?

“I’ve just used your lead generation AI, wow, it's great.” John, Financial Adviser

“I’ve been asking it questions for 15 minutes and I’m really happy with the answers.” Kelly, Financial Planner

“This is brilliant and has given me a tonne of value for my upcoming marketing meeting.” Vicky, Financial Planner

"Phil AI" has been trained with real world, tried-and-tested marketing and lead-generation strategies, specifically for IFAs. ChatGPT won't give you advice based on experience, but Phil AI will.

This tool is free while in test mode. If you want to try it out visit Phil AI here.

👉 How to attract ideal clients with social media and LinkedIn

Latest video training is now live in the Classroom area, along with transcripts and a summary. LinkedIn training includes the latest algorithm updates. You'll also find the 2024 edition of the LinkedIn Profile Checklist, which includes the latest LinkedIn algorithm updates. Click…

🥳 New client opportunities?

A new report from Investec Wealth & Investment reveals a potential surge in new clients. One in five retail investors is considering financial advice for the first time, with 60% planning to seek advice within the next two years. Retirement and inheritance are key motivators driving this trend.

Interestingly, 31% of investors with stock market interests already work with a financial adviser, and 59% of the rest are contemplating engaging with one. Of these, 29% are likely to do so within the next 12 months.

Furthermore, 21% of prospective clients expect to have investible assets of £250,000 or more by the time they're ready to engage with an adviser. Click to learn more…

🤝 Do you know the 'Fifty Words Concept' in networking?

Rewind 26 years to the very early days of online networking, and you will find Ecademy - the first B2B social networking site and forerunner to LinkedIn.

The core part of your profile page on Ecademy was your fifty words. That's fifty individual words that summed up who you were, what you were about and which encapsulated the essence of your narrative and professional ethos. Click to learn more…

🧠 The FCA's approach to AI in financial services

The FCA recently outlined its expectations for UK financial services firms using AI, emphasising a pro-innovation approach.

The FCA is focusing on ensuring that AI adoption is safe, responsible and transparent, aiming to enhance competition and consumer protection. It highlighted five key principles: safety, security, fairness, transparency, accountability and contestability. Click to learn more…

📢 Artificial Intelligence in Financial Advice conference

Due to overwhelming interest, Financial Technology Research Centre (FTRC) have organised an event designed specifically for advice firms eager to explore the advancements AI technology offers. The "Artificial Intelligence in Financial Advice" conference will take place in central London on Wednesday 10 July 2024. Learn more…

👨‍💼 🙋‍♀️ 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.

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That’s it for this week…

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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