Welcome to LifeTalk Insider #9

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LifeTalk Insider
June 30, 2023 • Estimated Reading Time: 6 minutes

From the LifeTalk forum week ending 30th June

Philip and 49 others: What is everybody assuming for long term cash returns in financial plans these days? And what about inflation for that matter? Click…

Stuart and 31 others: I have a client who wants to 'go it alone', managing their investments, pensions, and drawdown income. Question…

Jane and 40 others: £2.5m residential properties held privately - is there a way to move to company without CGT and to reduce IHT? Click…

Laurence and 45 others: I currently have a templated website with a company who just deal with IFA websites, had this for a couple of years. It now looks dated and does nothing but give me a presence online. Question…

Stella and 16 others: Want to simplify my working life… Can anyone recommend a back office system - currently using IO but not using half of it! Click…

Chris and 14 others: How do you charge for ongoing advice in drawdown when clients become unprofitable later in life due to withdrawals? If you took a client on at age 60 with £300k at say 0.70% OAC but when they are 75 the fund value is at £80k due to withdrawals, the minimum ongoing advice fee is £1,000 p/a so under your ongoing minimum limits. Click…

Steve and 40 others: If you had a new client approach, wanting to take out circa 50k tax free at 55, younger wife by 20 years, with two very young kids, wanting it out because his wife and mother in law pressuring wanting to do an extension to home… Question…

Andrew and 40 others: My wife controls my work diary and books all my appointments in for reviews which makes life a lot easier for me. A colleague is trying to do everything by himself but doesn’t want to employ an assistant. Question…

Jane and 18 others: Just had meeting with FCA to discuss expats and cross-border advice with Keith Richards and to explain where we are seeing consumer detriment post Brexit-‘just because of the new rules and lack of passporting. Question…

Claire and 33 others: I'm looking at salaried adviser posts and would be really helpful to have an idea of typical packages offered, where taking over an existing book of business. I'm chartered. Someone yesterday offered £60K basic, validation 4 x salary, with 35% bonus above validation, 5% pension - I thought this seemed a bit low. Question…

Post of the Week

Jordan and 21 others: Cash vs Equities for medium risk investors...

Now that we're seeing 5 year fixes over 5%, I'd typically be modelling for around 5-6% average annual returns for a multi-asset fund. For the higher risk investor, around 7-8%

So when you've got a risk-free option (and tax-free if ISA allowance available), is there any justification to take more risk than needed? Click…

From LifeTalk Marketing

Three weeks ago Pete Matthew (financial planner with Jacksons Wealth Management in Penzance), posted a video on YouTube about NI contributions and how the deadline was looming. Following the deadline date changing, Pete has posted an updated video which answered some of the questions raised in the comments.

One point Pete made was that the first video received a quarter of a million views in ten days. For a 'non celebrity' podcast host, this is pretty impressive. Yes, he's been posting financial education content for a few years now, but it just shows that there really is demand out there for simple but high quality educational content posted on a consistent basis. 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

Lead Generation for Later Life Financial Advisers - How Professional Equity Release Advisers Can Attract More of their Ideal Clients.

Out today on Amazon. Get your copy here…

Money Quote of the Week

“Formal education will make you a living; self-education will make you a fortune.” Jim Rohn

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