Welcome to LifeTalk Insider #11

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LifeTalk Insider
July 14, 2023 • Estimated Reading Time: 6 minutes

From the LifeTalk forum week ending 14th July

Michael and 25 others: I have a potential new client that has existing Fixed protection from 2012 at £1.8m. Unknow to them, they have auto-enrolled through Nest (£900 total contributions). Recent letter from HMRC state they have broken the Fixed Protection Rules. Question is, where do they stand, can it be appealed, if so, how? Click…

Jason and 16 others: Fixed term annuity question… Am I correct in thinking that if you take a fixed term annuity with zero income that this does not trigger the MPAA? Click…

Phil, Martin, Ian and 12 others: Really? After 30+ years there's always things to learn? C'mon, it's pants. Click…

Joshua and 21 others: I have a client who wants to purchase corporate bonds not via a fund (even though I tell him equities are better long term). Do any platforms allow direct holdings in these? Click…

Phil and 44 others: I'm seriously thinking about writing a blog with a league table of the most 'officious' compliance people when it comes to marketing. This was prompted by an adviser telling me today that their (external) compliance people have turned down a perfectly normal (and even slightly dull) marketing initiative they are planning. He's furious. Click…

Dan and 31 others: SJP pension exit penalties query please. Speaking with a potential new client who moved a pension now worth £400k to SJP two years ago. She wants to move it to me but I informed her of the 6 year exit penalty that she’s only 2 years into. Question…

LifeTalk and 42 others:  Click…

Stuart and 37 others: I have a client who wants to 'go it alone', managing their investments, pensions, and drawdown income. They are currently with Nucleus. Can anyone suggest a good, reasonably priced platform that will allow them to do this? Click…

Post of the Week

Had a team meeting this morning where one adviser discussed the idea of disinvesting a lot of their different client's funds (retirement funds etc) from MPS solutions and investing in cash / liquidity funds for the short term, that are yielding 4-5% currently.

There was a rather large debate on this and I wondered what the industry's thoughts are on this? Remain invested in a multi asset approach or go all in on cash that is yielding 4-5% or even higher? Click…

From LifeTalk Marketing

One of my go to examples of financial planners who use local radio as part of their marketing and communications is Keith Churchouse of Chapters Financial in Guildford. He's been doing it for years, and combined with other local initiatives (like sponsoring local roundabouts) it's incredibly effective.

Who else here appears on local radio? Click…


Great to see another UK financial planner getting their own book out there. Congratulations to Jessamy Walker of Brown Dog Financial Planning on the launch of her book.

Every financial adviser has a book inside them just looking to find a way out. And when you do, it will be the best business card you'll ever give someone. Click…

From the LifeTalk AI Best Practice Group

Ken: Hi everyone. Just joined the group as keen to learn more about AI, how it will impact Financial Planning and how I can best use it. As a total newbie who has not yet even used Chat GPT or Bard, what recommendations do people have for my first actions...

Phil: ChatGPT competitor, just debuted its second-gen version of its AI chatbot and is available for public testing in the US and UK. It can summarise up to 75,000 words, a massive leap compared to ChatGPT's 3,000-word limit, and its knowledge cutoff is early 2023, while GPT-4 is September 2021…

Join other IFAs and financial planners in our AI Best Practice Group here…

Recommended Book

Marketing and Lead Generation for Financial Advice Professionals: From Prospects to Profits - Proven Strategies for Financial Advisers to Attract More of their Ideal Clients

Out now - get your copy here…

Money Quote of the Week

“Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each.” Christopher Rice

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