Your LifeTalk Insider #86

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Welcome back…

From LifeTalk and the Adviser Growth Community this week:

Thanks to everyone who has subscribed to LifeTalk Insider - Let’s get stuck in…

Kevin and 7 others: On the 80th anniversary (who knew) of Thomas the Tank Engine, I have today received an invitation to invest in Go-Op, a co-operative enterprise "registered" with FCA ref: 30678R to provide community-led, passenger-owned rail services! Minimum equity investment £100,000 with debentures earning a fixed rate of 10% pa. All aboard!!

What could possibly go wrong? Click…

Katherine and 3 others: Which tools are your firms using for the "post-meeting" tasks element of running an IFA firm? And is it a separate software to your client/policy database for hard-facts and plan info? Click…

Philip and 7 others: Following the successful cyber attack on M&S, I wondered what people are thinking about cyber risks and platforms. It seems inevitable to me that there will be a successful cyber attack on a platform one day, which will probably result in denial of service for a period of time, rather than money being lost. Click…

End LinkedIn Paralysis. Get seen. Get clients.

The system that finally makes LinkedIn work for financial advisers. Click here…

LifeTalk member and 4 others: Client is a higher rate tax payer but has no relevant earnings for pension contribution purposes. In respect to contribution I’m aware they will get 20% uplift up to £3,600. Can they still claim via HMRC the additional 20% even though none of the income qualifies? Click…

Paul and 6 others: 'Charitable' gift to a housing association:

I have clients who has come into some money which is definitely surplus to needs. They would like to buy a property, put a lease on it (say 80 years) and then gift the lease to a housing association. Thus, the association can use it for their aims (hopefully to house a family) and will be responsible for maintenance, insurance etc. Then, in 80 years it will revert to the the freeholder (probably their grandchildren). On their death there will be 30 years of lease remaining and the value will be negligible, although we might have PET it away by then. Obviously, we will need a specialist lawyer and need to think about stamp duty etc. Question…

Rob and 7 others: R02 past papers, anywhere for free?

Formulas are only 3 marks, yet recent takers of the exam, have said there were loads of formula related questions? Click…

Philip and 14 others: Any thoughts or considerations on the following scenario?

Married couple, he owns the house outright. She has a son from a previous marriage.

They are concerned about IHT and whilst I don’t think they have a liability at present, they could do in the future. I’ll establish the viability of her owning half the home so she has her RNRB available. They are primarily concerned about losing the house in the event of care. They are quite young and no prospects of care currently, but they have been talking to people and heard the horror stories. Has anyone found a successful solution for people in this situation or is it a case of local authority can ultimately decide even this far out?

As far as I’m aware no trust solutions provide any guarantees as there are no time limits on deliberate deprivation. Click…

Simon and 15 others: Assureweb alternatives?

With Assureweb charging a subscription fee from June, I’m interested to know if there are any alternatives out there? Click…

Martin and 3 others: Does anyone have clients that are Dentists?

I have just taken on my first Dentist client who is self employed and says she's not employed by the NHS but has a total benefit statement with NHS via SPPA. She originally put down her average earnings for the past few years were £90k pa gross with £30-£35k tax due, but after digging a bit deeper she then said that her total income (which her Accountant provided) tax is due on is £77,813 for the previous tax year. Her total benefit statement says employed earnings of £25,614, but she tells me that her NHS income has been £2,468 pm for the past 6 months and if she does NHS work, they pay the practice and the practice pays her a % of this. Question…

Eugenie and 8 others: Fusion - transfers away.

16 weeks for a pension switch and sending a form out that will stall everything, but they won't tell me how they send the form to the client (client has not received one) or reissue it. That halts the 16 week clock. ISAs - 'experiencing delays' and well over the 30 day mark.

How do they get away with this and is there anything I or the client can do? It's a blatant attempt to hold on to the monies and put up barriers to exit. Click…

Jim and 12 others: I have a family member who wants to play the markets a little with some surplus cash, and they've asked me what investment platform they should use and which to avoid. This is an informal conversation and not a "recommendation", of course.

I have no idea on D2C stuff. Can anyone here give any suggestions? Click…

Eugen and 24 others: Be careful what you wish for President Trump! The US Dollar could become an emerging country currency soon!

I do not think he evaluated correctly what to expect, the market is applying the rule of emerging countries to the US, currency down, rates that shoot up. Before Liberation day, when the yields went up, as the World reserve currency, the US Dollar went up too, as people wanted to earn more and bought more US Dollars. Read more…

LifeTalk member and 29 others: Hi, looking for opinions please. New to advice and self employment. I want to understand if I'm getting a good deal.

Offer is to work alongside a firm, self-employed and will be given clients to service. Receive a flat fee each month for servicing these clients, but when I start to write new business the company get half until I cover my annual fee for servicing (in theory, not getting paid for servicing). All existing OAC is paid to the company. This also applies to any new clients I bring over until I cover my retainer. Concerned that I'll struggle to make enough money/build any ongoing for myself and will be doing a lot of work for not much reward. Don't want to get bogged down in servicing for someone else.

Has anyone else experienced this? If so, do you have any guidance? Click…

Don and 20 others: I'm ready to throw the laptop out of the window - how do I search for a pension transfer specialist who can look at defined benefit transfers?

Unbiased & Moneyhelper are useless as they don't allow you to select specific defined benefit transfer advisers. I want to be able to point someone in the direction of how they can locate a suitable adviser. Click…

From the Adviser Growth Community:

News from the Adviser Growth Community

👉 We now have a map feature in the group so that you can see where other members are located. Why not arrange impromptu meetups?

👉 We now pay you for introducing new paying members to the group - that’s 40% affiliate payment to you.

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👉 The Classroom area of the group has hundreds of hours of fantastic content.

👉 You can filter posts within the group by topic, making it incredibly easy to find posts of interest to you.

👉 There’s no algorithm that decides which posts you see!

👉 You can now get a 7 day free trial when you join Adviser Growth Community - come and check us out before you subscribe.

👨‍💼 🙋‍♀️ Here’s why financial advisers like you are joining Adviser Growth Community

The Adviser Growth Community - brings together financial advisers experiencing change or transition in their business so that they can gain clarity whilst also attracting more of their ideal clients.

👉 Now with a 7 day free trial.

If that’s you, you should come and join us…

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