Welcome to LifeTalk Insider #2

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LifeTalk Insider
May 12, 2023 • Estimated Reading Time: 5 minutes

From the LifeTalk forum week ending 12th May

Abolished LTA and AA to £60k - just love this man! Not so great for TFC. Question…

I’m looking to charge fixed fees based on complexity and time required but have previously been used to % charging. Question…

Just had an email from a client which has left scratching my head at how to reply! “In light of the present investment climate we are seriously thinking of moving our Aviva investments in Gold mining stocks. Could you please advise on the matter”. How do I reply?

BTL vs Pension - I have a client who already has 6 BTL’s and never really used his full annual allowance. As well as the diversification benefits I want to show him the tax efficiency benefit of a pension contribution. Question…

Your opinion/experience with Unbiased. Question...

I have an inherited client who is with Brewin and their full fat DFM offering. Another IFA (no longer in business) advised them to transfer their DB schemes into a SIPP back in 2017. I have tried over the years to educate and coach him on the drawbacks of his current investment arrangements. Question…

Discounting fees and consumer duty. I've just had an interesting discussion about it with our compliance guy and he reckons that discounting fees post consumer duty will be a no no. Question…

Today I witnessed an IFA making a call to a terminally ill client and break her heart when she came off the phone. Question…

Blast from the Past

Philip interviews Brett Davidson in January 2019. Brett is the founder of FP Advance and a leading management consultant to financial planning firms. Watch…

Marketing Tip: Annual services update

Any advisers thinking about putting on seminars, workshops and client events might want to take a look at this excellent video on why Apple events always shine brighter than other smartphone device launches.

Whilst none of us have the event budgets that Apple work with, the format and process described here is worth taking note of.

Something else jumped out of this video too, which perhaps we can all learn from - the concept of making an annual announcement to clients of small but valuable upgrades in your service offering - just like Apple does. Worth thinking about...

Get more marketing and lead generation tips in our dedicated Marketing group for financial advisers here.

Training for Financial Advisers

In person Presentation Skills training day for financial advisers 16th May. One place remaining

Webinar “An Introduction to AI for Marketing & Lead Generation for Financial Advisers” 7th June 2023. Register here.

What I’m reading

Messengers - 8 Ways to Get Heard by Stephen Martin and Joseph Marks. What makes some individuals seem immediately credible and others appear inherently untrustworthy? And how is it that precisely the same idea can be enthusiastically embraced or roundly rejected depending on who has put it forward?

Discover eight powerful human traits that help determine whether what we have to say gets heard or lands on deaf ears. On Amazon here.

App of the Week

With 50 million users, Vivino is the world's largest wine app and marketplace empowering people everywhere to enjoy wine to the fullest. Vivino provides wine drinkers access to unbiased information about wine from a community of millions. Info here.

Question

I can be invested but not spent, multiplied but not earned. What am I?

That’s it for this week…

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

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