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Your LifeTalk Insider #62
LifeTalk Insider
September 06, 2024 • Estimated Reading Time: 9 minutes
Welcome back…
From LifeTalk and Adviser Growth Community this week:
Thanks to everyone who has subscribed to LifeTalk Insider - Let’s get stuck in…
😮 I've seen two examples this week of financial advisers who have attracted new clients because their websites were recommended in ChatGPT.
This is very good news for a wide range of advisers looking for new leads and it puts smaller advisers on a par with larger firms for visibility online.
ChatGPT is looking for certain specific things on financial advisers' websites, so AI search results can be influenced in a variety of quite simple ways. Tomorrow we have a comprehensive How To guide on how this works and how you can dramatically improve your chances of being found in ChatGPT search results.
LifeTalk and 29 others: What’s an unusual client request you’ve had to manage? Click…
Jack and 17 others: If you're into your third year of advising how much would you expect of yourself to write of paid business each year?
Lots of variables, I know, but ignore self vs employed and the fact that fees vary a bit if poss... just a rough idea of initial + ongoing totals in general. Click…
Philip and 34 others: I am thinking of paying my son a small dividend from my company. But he has student debt and is earning, and I don’t want him being forced to pay 9% of the dividend as a student loan repayment. If I pay him a dividend up to the dividend allowance, will he have to hand over 9% of it as a student loan repayment? There doesn’t seem to be a clear guide to what counts as income for student loan repayment anywhere and I wonder if anybody on here knows the answer. Click…
Nathan and 23 others: anyone familiar with the Wealth Preservation Account by Canada Life? I asked their tech team a question and they didn’t appear to know the answer. If the client (settlor) doesn’t need the money from years ones segments and roles them into year 11, does that then restart the 7 year clock? Click…
LifeTalk member and 11 others: I'm considering relocating with the family and home would be around 2 1/2 hours from my current employer. Most of the clients would be around 3 hours away from new home, so staying with my current firm would be pretty impossible from a work/life balance perspective.
I'm wondering what peoples experiences of moving from one firm to another as an employed adviser, where distance had effectively led you to need to start again, have been. Any tips or things to consider? Click…
LifeTalk member and 31 others: I’m about to embark on the path to become an IFA at 55, (never too late right?!). I’ve been used to earning 150k upwards per annum. How long do you think it will be before I can reach those levels again? Click…
Dave and 9 others: Chargeable Event sanity check, please. Onshore bond in trust is partially surrendered (across all segments) by trustees in May 2024. The bond is then assigned to a beneficiary in June who then fully surrenders the bond in early July, BEFORE the policy anniversary at the end of July.
How many CE certificates should be issued and when? Click…
Post of the Week:
James and 37 others: Several months ago I posted here about wanting to reduce my client bank and letting some of our unprofitable clients go. This resulted in some vigorous discussion on the group. Many people said they were looking to do the same, but were nervous and unsure how to go about it. I'm now on the other side of this, having let go of around 10% of my client bank. It's been a great exercise. I said I’d report back, so I’m writing to share my experience in case it helps others. This is a bit of a long read, but wanted to feedback back in detail. I hope it helps!
In parting company with these clients, there were two main challenges. Firstly… Read more…
Jane and 56 others: What do we call what we offer - advice, planning etc. Having been in some heated debates recently on what is planning and what isn’t, it has reminded me how hard this is for clients to work out as well. Click…
[Poll] Paddy and 46 others: Renting/owning a physical office space in the high street of a town? Ignoring the obvious cost of maintaining it etc. Purely from a marketing perspective advisers who have one has it generated any additional enquiries over and above website. Click…
🕵️♂️ Mystery Post… Click to view…
Philip and 30 others: Are any of you making contingency plans for significant pension or tax changes (e.g. IHT on death or removal/reduction in pcls) for your businesses. I can see that we may have a lot of work to do with our clients and I'm hoping to secure some extra paraplanning support on a contingent basis. But wondering if others are doing the same or if anybody has had any other bright ideas? Click…
Paddy and 24 others: Going from sole trader to Ltd Company as an IFA, have had an accountant mentioning transferring the goodwill to the ltd company and then paying CGT on the gain personally. The idea being that you could have a few hundred thousand in the directors loan account that you could then take out with no tax liability. What does the group think? Click…
Posts from Adviser Growth Community this week:
👨💼 🙋♀️ Here’s why financial advisers are joining Adviser Growth Community
This graph highlights why financial advisers are joining the Adviser Growth Community (AGC): 74% are experiencing change or transition, with 60% finding it challenging. AGC supports advisers in building resilience, streamlining operations and achieving balanced, fulfilling professional and personal lives. 👇
If that’s you, you should come and join us…
👉 A smart way to create quality marketing content
Continuing the theme of the month of getting stuff done...
Here's an AI prompt for you which will help you to create good quality marketing content in a variety of different formats, particularly How To guides. Click…
😮September's theme: Getting stuff that matters done
The beginning of the new school year often feels like a time of renewal for many people - hopefully great Summer memories are behind us and the feeling of change and a new season is upon us. So how do we make the most of this time?
Yes, AI can help us. Here's a ChatGPT prompt you can use to structure a weekly debrief you can hold with yourself, your team or your partner every Friday: Click…
🚀 Essential client communications
Extremely well put together video from James Shackell at NOVA. Yes he puts out a lot of videos but information like this should be a staple of every financial adviser's communications with clients. Click to watch…
😮 Why you should stop buying leads…
Here’s a far better way… Click…
Please don’t keep us a secret - pass this on to your colleagues - thanks in advance…
That’s it for this week…
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As always, thanks for reading and see you next time.
Founder of LifeTalk
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