🧇 The Weekly Waffle - The Latest Gossip from the Academy's Town Hall - The Friday Feast, March 18th, 2024 📅
Hello there, Oh Esteemed Steve, 🌟
Nip over and snag a chair for our weekly natter 🍵 from the Friday Feast at the Academy of Life Planning's positively splendid Town Hall. Here's what we're serving up today, all dished out with a dollop of our finest cheeky chatter.
Alright, Wafflers, buckle up! We’ve got a hearty serving of the latest gab from the grapevine, each bite more tantalising than the last. 🍴
First off, Dr. Jackie Le Fèvre has been poking around in the garden of human happiness and guess what she found? A bunch of stats showing that knowing what you stand for (a.k.a. personal values) does wonders for your well-being. Who’d have thunk it? So, financial planners, it’s time to stop just crunching numbers and start assessing values. It’s not just about the money, honey. 🌈
Now, onto the juicy bit: St James’s Place Shares are plummeting faster than a lead balloon. It seems confidence in SJP delivering services worth their hefty fees is disappearing quicker than biscuits at a tea party. Partners are jumping ship faster than rats from the Titanic, trying to cash out while they still can, leaving the rest to hold the bag. Oh, the drama! 🚢💔
And here’s a kicker from Jonathan Clements over at the Humble Dollar, introducing us to the ICE (I’m Continuing Earning) movement. A snappy comeback to the FIRE (Financial Independence Retire Early) brigade. Because apparently, life isn’t just about amassing “ungodly sums” and then sitting on your laurels. Ken Cutler reckons we should stay useful, keep on trucking, and view work as more of a marathon than a sprint into early retirement. For those retiring IFAs thinking about hanging up their hats, maybe consider ICE instead. Ditch the red tape, by all means, but don’t give up on meaningful ventures. It's all about reaching new heights of self-transcendence, or so they say. 🏔️🔄
"Tax Tails Should Not Wag Dogs" 🐶 - or so goes the ancient proverb of our time (well, not really, but let's pretend). After a chinwag about a tax conundrum that could befuddle even the brightest, a nugget of truth emerged. Before hurling ourselves into the abyss of tax technicalities, how about a bit of good old-fashioned research? It’s a tad cheeky to nudge others into the library stacks when you’ve not taken a peek yourself. And honestly, why are we nattering about tax as if it’s the be-all and end-all? Surely, we ought to be plotting the client's life course before delving into the murky waters of their finances. 🗺️💼
Here's a gentle nudge with some case studies to jog your memory of the profound impact of our noble deeds. It appears that financial advisers often find solace in the snug blanket of tax advice, staying well within the cozy confines of their comfort zone. But let's not forget, even AI, with all its whizz and bang, isn’t immune to a blunder here and there. Always give those outputs a once-over with a fine-tooth comb. Sense checking is not just a recommendation; it’s a necessity unless you fancy a tax tail wagging you into a frenzy. 🤖🔍
Ah, the Prisca Theologia - that grand old doctrine suggesting there's a singular, true theology stitching itself through every religion like a divine thread, handed down by the gods themselves to us mere mortals. And what sits at the heart of this mystical tapestry? The GAME Plan, of course. Not just any game plan, mind you, but The GAME Plan, capital letters intended to signify its monumental importance.
As we delved into the ancient roots of this framework, we didn't just hop in a time machine; oh no, we went full Indiana Jones, tracing its lineage back to the likes of Hermes Trismegistus and Thoth. You know, casual weekday stuff. These aren't just characters you'd find in a high-budget fantasy flick; they're the supposed godfathers of a philosophy that's been bobbing about in the cosmic ether, influencing everyone from Moses hanging out by the Tree of Life to Buddha contemplating the Eightfold Noble Path.
And then, there's me, not to be outdone by these ancient heavyweights, coining "The GAME Plan." Because why not add a modern twist to millennia of wisdom? It's not every day you get to stand shoulder to shoulder with the pantheon of spiritual legends, after all. This framework isn't some fly-by-night self-help gimmick; it's the culmination of eons of spiritual and philosophical musing, apparently.
In the midst of all this, Stephen Covey sauntered in with his own take, exploring similar ancient philosophies and arriving at a comparable conclusion. Because clearly, the cosmos just loves to drop breadcrumbs of wisdom for us to follow, leading us all to the grand revelation that, yes, life planning has been in vogue since the dawn of civilization. Who would've guessed?
So there you have it, a journey through time and spirituality, all to underscore the universal truth that the GAME Plan is more than just a catchy acronym; it's the spiritual equivalent of finding the secret to life in the back of your sock drawer.
Hierarchies of Profit and Power Hidden Agendas 🕵️♂️💼
In a world where Harriett Baldwin's musings, UK Treasury Committee Chair, on guidance being shoved to the backseat by regulatory advisors have sparked more than just a bit of banter 🗣️💬, we've found ourselves knee-deep in a debate. The topic? The thrilling trifecta of simplified documents versus guidance versus advice courtesy of our dear friends at the FCA (Financial Conduct Authority). Ah, the excitement 🎭. Concerns were aired like dirty laundry over citizens battling the dreaded direct debit failures amidst the tsunami of rising living costs, all while long-term savings concerns loiter in the back like unwanted party guests 🌊💸.
Pension Pots Are Not The Panacea For A Failing Economy 💰🚑
Meanwhile, the chat took a turn into the realm of pension pots, those glittering treasures that are apparently not the knight in shining armour for our limping economy. The conversation spun around the auto-enrolment rules playing hard to get with younger folks' access to pension funds, as they juggle the hot potatoes of university debts and housing dreams 🎓🏡. Policymakers, in their infinite wisdom, seem to have their eyes on the prize of private pension pots worth trillions, hoping to prop up our teetering economy. Yet, they might just be missing the forest for the trees, overlooking the immediate financial tempests brewing in citizens' lives thanks to ever-soaring living expenses 🤦♂️💨.
Asset Mapping Tools – Pictures Paint a 1,000 words 🎨📊
In a stroke of genius or perhaps just common sense, we’ve dipped our toes into the world of asset mapping tools during client chinwags. Lo and behold, visualising the distribution of assets turned out to be as enlightening as a lighthouse in a fog. This eureka moment led us to flirt with the idea of the Asset Map platform, potentially courting it into our practices like a knight wooing a fair maiden 🏰💘.
This little adventure opened the gates to what we affectionately dub 'partner parades' 🎪🚶♂️, where various tools strut their stuff on the digital catwalk, vying for the collective embrace of our academy deals. Picture it: a tech tool talent show, if you will. And who’s up for the April slot? None other than Keylu, preparing to take the stage with the grace of a prima ballerina 🩰
🌟. Meanwhile, Money Habitudes is batting its eyelashes at us for next week’s showcase.
Speaking of Money Habitudes, we’re not just crossing the pond; we’re leaping continents with American and South African presenters at the helm 🇺🇸🌍🇿🇦. This financial coaching extravaganza is set to unfurl its wisdom on Tuesday, March 19th at 4:00 p.m., with a recording that’ll stick around like that one guest who just won’t leave your party. The aim? To navigate the treacherous waters of couples’ differing money habits and quell the stormy seas of financial conflict ⚓💑. Ah, the drama, the intrigue – finance has never been so scintillating.
Trust Really Matters 🕵️♂️💼
A revelation from the high courts of YouGov, commissioned by Continuum, has decreed that in the kingdom of advisers, "reputation and credibility" wear the crown. Forget the jousting and jesters; it's all about how shiny your armour looks in the eyes of your customers.
1 in 6 Americans Consider Unretiring 🇺🇸👴
The American dream has a sequel, it seems. For 1 in 6, retirement was merely an intermission. The comeback tour's top hits include personal reasons, money, boredom, loneliness, and that evergreen classic, inflation. Let's tip our hats to the 102-year-old Costa Rican cowboy 🤠🐴, who still rides high, proving that hanging up your spurs is merely a suggestion.
Financial Education Needs Improving in Schools 🏫💰
In our latest gab, we lamented the ghost town that is financial education in schools. Martin Lewis, armed with nothing but a PowerPoint and a dream, stood before the education committee to preach the gospel of financial literacy. Yet, here we are, still scribbling IOUs in our textbooks.
Unscrupulous Fintechs Target Underserved Communities 🤖💔
And now, a tale as old as time: fintech firms eyeing underserved communities with the tender affection of a cat watching a laser pointer. Armed with robo-advising guidance and a heart full of dreams, collaborations between the likes of Money Hub, Rebcat, and Navos aim to bridge the advice gap. Yet, somehow, it seems to culminate in yet more product sales to those already counting their pennies.
Dynamic Planner's TRAM Launch 🚂💼
In a move that’s sure to change the game (or at least pretend to), Dynamic Planner unveiled TRAM, their latest and greatest end-user interface. Its pièce de résistance? Daily investment tracking, which is basically the financial equivalent of watching paint dry but somehow makes people feel like they're getting bang for their buck. In reality, it’s just a cunning ploy to buy financial advisers more time to sell, sell, sell 🎩💰.
CPD Masterclass Announcement 📣🎓
Get ready to morph into "The Vision Maker" at our upcoming CPD masterclass. We're diving headfirst into the art of crafting purpose statements so captivating, you’ll wonder if they were penned by Shakespeare himself. Due to our last gatherings being as crowded as a desert, we're spicing things up with later timings. Mark your calendars: Thursday, 14th March, from 6 PM to 8 PM - because nothing says 'prime learning time' like a session smack in the middle of dinner hours 🍽️⏰.
Best Chatbot Platforms 🤖💬
On the hunt for the crème de la crème of chatbot platforms? Look no further than Chatbase.co and custom GPT.ai, the darlings of the digital chatter world. Or perhaps give Chatty a whirl, especially if you enjoy the thrill of attempting to mesh it with email support via Zapier – a challenge comparable to solving a Rubik's cube blindfolded.
The Last Mike Drop: Toodle-oo and Thanks a Million 🍷🚪
And there we have it, the curtain falls on today's grand spectacle of fiscal fandango, all observed through the keen, albeit slightly jaded, lens of yours truly, Steve. Tip your hats, throw your roses, and let’s have a thunderous clap for yourselves, you magnificent intellects, for spilling your brains and lending your lobes. Let’s not dawdle or let the moss gather ‘round our toes till we reconvene, eh? Armed with a new cache of wisdom and a smidge of fellowship, let’s bid adieu with dreams of a weekend packed with jollity and a dusting of rumination. Thus, we scribble another chapter in the epic of the Academy’s Friday Lunch Bunch - a chronicle of wading through the financial fjords and the vast expanse of the unknown.
🔚 And There We End Our Tale 🎬
Consider yourself dispatched, with a trail of hyperlinks in tow because, honestly, what’s a good yarn without a smidge of homework to fend off the ennui?
That wraps up this week’s tittle-tattle fest, comrades! For a jaunt down memory lane, sneak a glance at our past jests or nab an invite to our next gabfest (March 15th, 2024, 12:00 PM London) for an unrivalled bout of banter and belly laughs. And with that, we draw the curtains on our latest session of chatter and chortles. Until our orbits align once more, keep those waffles aloft 🧇.
Cheerio,
Steve Conley
The Head Honcho, Academy of Life Planning
email: steve.conley@aolp.co.uk
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Websites: Academy of Life Planning, Planning My Life, Financial Life Coach, Steve's Blog.
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