Welcome to LifeTalk Insider #6

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LifeTalk Insider
June 09, 2023 • Estimated Reading Time: 7 minutes

From the LifeTalk forum week ending 9th June

In your opinion, what’s the purpose of the initial meeting with a new client? Do you go in with a blank peace of paper or complete a fact find? Click…

Any recommendations for a bespoke, very adventurous DFM to assist one of my clients. Usually use models but they are too tame for him. Click…

I’m going to be presenting to a group of people all starting up businesses, mostly going from employed to self employed. What topics shall I talk to them about from a financial services point of view? Click…

Which networks are decent to work with as an appointed rep, or is it better at the moment to just go directly authorised? Click…

So what are the Hive’s views on todays big news in the platform & advice tech world? Click…

Any good ATR tools that let client complete and have nice report out? We use Dynamic Planner but with another 5% increase and we only use it for ATR is too much so have to look for other options. Click…

Having an argument with a client. He has an interest only offset mortgage and wants to partly sell down his stocks and shares ISA to pay money into the account. Question…

Expected growth rate on Prufund growth now 7.7%. Question…

We have a client who is looking to invest £1.3m following a divorce and needs this to generate £3k net a month. Question…

I've got £1.5M in an SJP intl bond wrapped in a QROPs. I need to transfer it. Question…

Imagine for a moment you could travel back in time to the day you became a financial adviser. Knowing what you know now, what are you going to tell your younger self? Click…

We were advised today by a DFM, that if we offer a blended solution to a client ie: one of their wrappers with DFM A and the other wrapper with DFM B, we effectively become a "manufacturer". Question…

What is a fair salary for an IFA responsible for £230k recurring income and doing £70k initial fees. Question…

From our Partners

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From LifeTalk Marketing

I’m in a fortunate position with the company that I’m an AR for that I have ongoing advice clients and a bank of ‘prospective clients’ (who are existing policy holders but haven’t had any advice over the years ) and transactional clients (who have taken advice years ago but have not taken up the ongoing advice option at the time). To me this is a large resource I should be concentrating on and theoretically easier than going out trying to find/buy new leads who have no previous connection with the company. Question…

I had a very interesting conversation with an IFA client today who is "obsessed" (their own description) with the tiny but important touches that make up interactions with prospects as they begin their client journey. She gave me some examples - one of which is they offer five different types of milk with their tea/coffee when clients come in for meetings. Question…

When you first meet or have a discussion with a brand new prospect (phone, Zoom, email face to face etc), do you give them any form of guide to your financial planning services explaining what happens, when etc? This could be a printed or PDF booklet, standard email, link on your website, infographic, PowerPoint slides, video etc. Click…

From the LifeTalk AI Best Practice group

What’s your AI IQ as a Financial Adviser?

How much do you know about AI and how open are you to adopting it in your practice? Take our quick quiz and get your AI IQ score. Click here…

Recommended Book

Embracing the Future Present: The Financial Adviser's Roadmap to AI Adoption

“Like many, I imagine, I view the explosion of AI with both wide eyed awe and enthusiasm and equal measures of sheer panic at the scale of the unknown.

This book helps to explain the seemingly incomprehensible and provides a structured approach to not only understanding AI but also how to use it in practice.

I'll be reading and re-reading this over and over and would recommend others do the same.” Get your copy on Amazon here.

Money Quote of the Week

“Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.” Johann Wolfgang von Goethe

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