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The Weekly Waffle

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๐Ÿง‡ The Weekly Waffle - This Week's Highlights at the Academy Town Hall - Friday Lunch Bunch, February 23rd, 2024 ๐Ÿ“…

Hello, Dear Steve, ๐ŸŒŸ

Pull up a chair for the latest natter from the Friday Lunch Bunch ๐Ÿฝ๏ธ at the Academy of Life Planning's opulent Town Hall. Here's the scoop, sprinkled with a dash of humour.

Today's menu:

Proposition Architect Masterclass Steve, in his infinite wisdom, showcased a recent masterclass aimed at concocting a financial plan so your wallet doesn't echo. It's up for grabs on-demand, with a guide that's just a click away - because, let's face it, who doesn't love a bit of homework? ๐Ÿ“š๐Ÿ’ก Catch the (members only) replay here, and snatch the guide here. Not a member? - It's ยฃ19/ month here.

Social Return on Investment Steve waded into the waters of Social Return on Investment (SROI), pushing the envelope in our proposition development cookbook ๐Ÿณ. It's all about stirring the pot to optimise income while giving a nod to social and environmental aftertastes. He's all about measuring the seasoning of our client work's impact. Check out the AoLP Logic Model download. Discover your Social Value here.

CPD Masterclass - The Vision Maker Up next, Steve's brainchild, "The Vision Maker" masterclass ๐ŸŒŸ. Mark your calendars for Thursday, March 14th, at the witching hour of 06:00 p.m. UK time. It's all about brewing an inspiring purpose statement in your financial planning cauldron. Tickets available here - don't dilly-dally!

Financial Literacy Levels in Workplaces A chinwag ensued on the startling revelation that half of the workforce is red-faced ๐Ÿคฆโ€โ™‚๏ธ about their financial literacy, with a whopping 75% fretting over finances monthly. Cue the rallying cry for chinwags with the powers that be about ushering in financial well-being programmes for the proletariat. Dive deeper here.

Fee Models Among Financial Advisors And in a twist that shocked precisely no one, a mere 1.3% of UK financial advisors are on a fixed fee diet ๐Ÿฐ, while the rest (98.7%, for those keeping score) feast on an assets-under-management model. Food for thought on the potential for indigestion from such widespread practice. More to chew on here.

Retirement from Regulation Series ๐Ÿš€ Steve's been spilling the beans on his series for financial advisors dreaming of ditching the regulated rat race ๐Ÿ€. He's all for switching to a subscription model over the old-school percentage hustle, touting its perks for the soon-to-be retired. The banter even veered into the murky waters of what to call oneself - "lifestyle planner" or "fiduciary"? Sounds fancy, doesn't it? Peek behind the curtain here.

Transitioning Fee Models ๐Ÿ”„ The chinwag got juicy discussing the UK's financial advisory scene's shift from percentage pilfering to fixed subscription fees ๐Ÿ’ธ. Opinions flew about like confetti on how clients are warming up to this fresh approach, especially for those advisors eyeing the retirement exit. Where did 435 advisers go? Have a gander here.

Client Perception Challenges ๐Ÿค” Ah, the saga of clients grappling with our fancy new titles like "retirement coach" or "life planner" continued. It's all about jazzing up the old with a sprinkle of the new, though not everyone's buying what we're selling. The struggle to shake up established industry babble is real.

Subscription Model Implementation ๐Ÿ’ก Here's where the rubber meets the road - actually pulling off a subscription model. Tales of client reactions, clinging onto existing clients by their fingertips, and the art of smooth-talking them into new deals were shared. The plot thickens here.

Marketing Strategies & Terminology ๐Ÿ“ฃ The pow-wow took a turn into marketing wizardry, with a spotlight on slaying social media and branding that pushes past the stereotype of stuffy financial advisories. It's all about snappy titles that stick but don't stink.

Jonquil Lowe's Book Review ๐Ÿ“š Steve's been rubbing elbows with the illustrious Jonquil Lowe, chewing over her latest tome, "Be Your Own Financial Advisor" - the 2024 must-read that dishes on active income, passive income, and why your health is your wealth. Sneak a peek here.

Hargreaves Lansdown's Robo Advisor Closure ๐Ÿค–๐Ÿ’” In a twist, Steve dropped the bomb about Hargreaves Lansdown's robo advisor going kaput after hemorrhaging cash. But fear not, a tech wizard is supposedly on the horizon, poised to conjure up a new and improved robo advisor. Watch this space here.

Pop the popcorn ๐Ÿฟ, folks. Itโ€™s never dull in the land of finance.

Investment Strategies for the Masses ๐ŸŽฏ Steve's got his knickers in a twist over investment strategies that eye those without a penny to invest. He's all about crafting income streams that don't dry up, rather than peddling investments right off the bat. Fancy a read? Click here.

Bank Profits Bonanza ๐Ÿ’ฐ In news that shocked absolutely no one, the big banks are rolling in dough, breaking profit records left, right, and centre. Steve couldn't help but point out the industry's unyielding quest for the almighty pound.

New Tricks from Academy Brands ๐Ÿš€ Steve's been cooking up new services across his empire, from Deposit Sense wizardry to cash flow planning with Voyant. Fancy a deep dive? Check our site for the lowdown.

AI Chat Bots to the Rescue ๐Ÿค– In the brave new world where human advisors are as rare as hen's teeth, AI chat bots are stepping into the financial planning fray. Steve mused over the pros and cons of this tech. Intrigued? More info here.

Investment Guidance for Mere Mortals ๐ŸŒ Steve's on a mission to offer clients a no-frills, globally diversified stock and bond portfolio, tailored to their dreams and nightmares. But for the nitty-gritty investment advice? He's pointing towards the regulated folks, with a nod to ethical investing.

The Real Wealth: Happiness ๐Ÿ˜Š Steve stumbled upon some wisdom from Yale's Happiness Guru, preaching that real joy comes from connections and values, not just your bank balance. Plus, a global perspective that suggests your golden years might be about more than just counting your pension pennies. Get the scoop here.

Life-Centric Financial Advice ๐Ÿ’ก Max Horne's leap from the regulated world to life-centric financial planning got a shoutout. It's all about slashing fees for the simple stuff and doling out pearls of wisdom. Check his musings here.

AJ Bell's Mix & Match ๐Ÿ“ˆ One savvy soul flagged AJ Bell's nifty setup: let a certified planner handle 90% of the heavy lifting while you tinker with the remaining 10%. A bit of flexibility in your investment cuisine.

Sustainable Livelihoods for the Long Haul ๐ŸŒฑ The chat turned to the oft-ignored topic of sustainable livelihoods in retirement planning. Seems some advisors missed the memo, leading to a sticky wicket of inheritance tax woes and the scramble for income streams that outlast your pension. Dive deeper here.

The Parting Glass: A Fond Farewell ๐Ÿท๐Ÿšช And there we have it, curtains falling on our latest soiree of financial musings, as seen through Steve's ever-sceptical spectacles. A tip of the hat and a hearty thanks to all you lovely lot for lending your ears and brains. Let's not dilly-dally too long before our next rendezvous, eh? Armed with a fresh batch of wisdom and a sprinkle of mateship, let's bid adieu with dreams of a weekend brimming with joy and a tad of contemplation. Thus, we etch another chapter in the epic saga of the Academyโ€™s Friday Lunch Bunch - a testament to our unending voyage through the choppy seas of finance and the vast beyond.

๐Ÿ”š And Thatโ€™s All She Wrote ๐ŸŽฌ

So, thereโ€™s your to-do list, peppered with links because, honestly, whatโ€™s a chinwag without a bit of homework to keep you off the streets?

Thatโ€™s it for this week's chinwag, crew! For a jaunt down memory lane, take a gander at our past musings or nab yourself an invite to our next gab session (March1st 2024, 12:00 PM London) for some top-notch banter.

And with that, we wrap up the latest chapter of our natterfest. Until we meet again, keep those waffles coming ๐Ÿง‡.

Cheerio,

Steve Conley

Head Honcho, Academy of Life Planning

email: steve.conley@aolp.co.uk

P.S. If you know anyone who would like to be added to our mailing list, please share this link.

Websites: Academy of Life Planning, Planning My Life, Financial Life Coach, Steve's Blog.

Copyright the Academy of Life Planning Limited 2023. Contact us by email at info@aolp.co. The Academy of Life Planning Limited is a service sector trading company regulated by the Competition and Markets Authority and Registered in England and Wales number 8016568. Registered office address 9 Franklin Way, Spilsby, Lincolnshire, PE23 5GG, United Kingdom. Information Commissioner's Office reference number ZA502687.

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