Welcome to LifeTalk Insider #16

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From the LifeTalk Forum Week Ending 18th August

Welcome back and thanks to everyone who has subscribed to LifeTalk Insider - your weekly summary of the top posts in the LifeTalk groups.

We’re growing rapidly because the majority of advisers share this newsletter with their colleagues. Here’s this week’s selection…

• From the main LifeTalk forum

• Post of the Week

• From LifeTalk Marketing

• Forthcoming Adviser Training

• Money Quote of the Week

• From the LifeTalk AI Best Practice Group

• LifeTalk Playlist on Spotify

John and 7 others: Where can I find stats, research and articles about the impact on people retiring regarding their mental and physical health, divorce and death rates? Click…

Clive and 33 others: Does anybody know the realistic timescale to get directly authorised with the FCA, assuming no major queries! Click…

Tom and 60 others: I have a client who has been difficult to convince, over the past 12 months to remain invested and not move his ISAs into cash ISAs. We have had similar conversations every 2-3 months and the client has asked to meet asap to discuss moving his money again into cash products.

His argument is that NatWest are offering fixed cash ISAs over 2yrs. Giving 5.5% p.a. with his argument being that in interest alone he would make £50,000 during this period as well as save on the charges he currently pays to have the funds invested with the provider etc. Question…

Gary and 15 others: AJ Bell (Investcentre) are quoting between £300-500 to distribute a Pension on death. Is this standard practice for providers? Click…

Martin and 6 others: Does anyone have/use an advice pack/brochure that they give to their clients to pass to their children when they are 18? Click…

Lindsay and 14 others: I’ve a client who partner passed away and all assets are left in the will. SW, M&G and fidelity won’t allow their ISAs to be inherited so have to be encashed Anyone come across this? Click…

Nick and 18 others: I have a client who has a number of bank accounts and struggles to keep track of them all, particularly in preparing account balances for review meetings. I was wondering if anyone has any useful suggestions on how to simplify obtaining this information, short of reducing the number of accounts. Click…

Darrell and 13 others: I have been asked to prepare and deliver a one hour seminar on the financial aspects retirement planning for a group of employees and the employer has said they will pay me for it. There is not likely to be a lot of business from it ongoing as the employees are mostly in a NEST pension scheme, any ideas or experience on how to charge for this as it is new territory for me. Click…

LifeTalk member and 51 others: I work self employed in a National IFA network. I have become increasingly concerned over the past few years in the direction this network is going in. I have a bank of my own clients as well as managed about 40% of the networks clients.

The most recent concern I have is the Network are saying that due to consumer duty, I will now have to buy a laptop & mobile phone of their choice but at my cost, to ensure that they are meeting C.Duty requirements for data security. So I will now lose my business mobile number which will be replaced by the networks owned number and that also all phone calls made on the phone will be automatically recorded.

It makes me feel uneasy that they are taking away some of the direct access that I control to my own clients. It feels like more about the company protecting its clients against advisers moving firms and the clients following. Is this just the way, across all IFA networks? is it legitimate for consumer duty? Click…

Adviser Training 6th September

Discover how to attract more of your ideal clients and connections on LinkedIn, without the unwanted pitches and distractions...

Ever felt swamped by recruiters or sales pitches on LinkedIn? Sceptical about its benefits?

We get it.

But there's good news - many of your ideal clients and connections are on LinkedIn - right now. And with the right strategies, you can avoid the unwanted noise and tap into the vast potential it holds, because LinkedIn is a powerhouse of opportunity for the majority of IFAs and financial planners.

Join our FREE webinar and learn how to:

• Navigate LinkedIn's algorithm effectively so that right fit clients find you easily.

• Present your professional brand in a way that resonates with your ideal clients.

• Filter out the unwanted approaches and focus solely on valuable connections. (We'll show you exactly how to make sure that recruiters don't find you)

Date: 6th September Time: 10:30am sharp

Change your perception of LinkedIn, and let's unlock its potential together! Interested? Join everyone else who has registered and reserve your place here.

From LifeTalk Marketing

Networking - The latest list of regional networking events around the UK is available now. Click…

Not everyone is aware that Google My Business has changed its name (rightly so) to Google Business Profile. Many IFAs and advisers have listings on the service but have you fully optimised it? Here’s what to do. Click…

Bill Cates from the US is internationally recognised as the expert on helping financial advisers to develop their referral skills. He's written several books on the topic, and here is a taste of one of his recent articles: 5 Mistaken Assumptions That May Limit Your Referrals. Click…

Money Quote of the Week

“What we really want to do is what we are really meant to do. When we do what we are meant to do, money comes to us, doors open for us, we feel useful, and the work we do feels like play to us.” Julia Cameron

From the LifeTalk AI Best Practice Group

Reid Hoffman (co-Founder of LinkedIn) has a great podcast called Possible which looks at the future. We feature a great short version of a recent interview with Sam Altman from OpenAI.

Plus, a shockingly powerful tool that IFAs can use that will impress clients and prospects alike through personalisation with their name. Including:

• Newsletter acknowledgements

• Lead magnet fulfilment

• Scorecard result responses

• LinkedIn messaging (probably)

• Seminar and webinar registration responses

• And many more.

AI is a fast-moving technology and your group keeps you up to date and on top of latest developments that are relevant to the financial advice community. 

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

LifeTalk Playlist on Spotify

Did you know that LifeTalk has an official music playlist? Join us and add your own tunes. Click…

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For Financial Advice Professionals

• Marketing consultancy, adviser training and conference speaking

• Presentation and public speaking skills coaching

• LinkedIn coaching

• AI best practice

• Recommended book: Marketing and Lead Generation for Financial Advisers: 2023 edition