{"version":"1.0.0","segments":[{"speaker":"Nick Lincoln","startTime":2.34,"endTime":4.83,"body":"Welcome back"},{"speaker":"Nick Lincoln","startTime":2.34,"endTime":4.83,"body":"ladies and gentleman to the real"},{"speaker":"Nick Lincoln","startTime":4.83,"endTime":11.61,"body":"advisor podcast T R A P. Trap."},{"speaker":"Nick Lincoln","startTime":4.83,"endTime":11.61,"body":"With me as ever in the digital"},{"speaker":"Nick Lincoln","startTime":11.61,"endTime":14.76,"body":"studio are the three other"},{"speaker":"Nick Lincoln","startTime":11.61,"endTime":14.76,"body":"horsemen of the apocalypse call,"},{"speaker":"Nick Lincoln","startTime":14.76,"endTime":20.49,"body":"which are Andy Hart and Alan"},{"speaker":"Nick Lincoln","startTime":14.76,"endTime":20.49,"body":"Smith. Hello, gents. Before we"},{"speaker":"Nick Lincoln","startTime":20.49,"endTime":23.76,"body":"start the normal spiel, please,"},{"speaker":"Nick Lincoln","startTime":20.49,"endTime":23.76,"body":"please do follow us on Twitter"},{"speaker":"Nick Lincoln","startTime":23.79,"endTime":27.99,"body":"at advisor podcast at advisor"},{"speaker":"Nick Lincoln","startTime":23.79,"endTime":27.99,"body":"podcast. And that's advisor"},{"speaker":"Nick Lincoln","startTime":27.99,"endTime":31.8,"body":"spelt the correct way with an E."},{"speaker":"Nick Lincoln","startTime":27.99,"endTime":31.8,"body":"And use that as the conduit for"},{"speaker":"Nick Lincoln","startTime":31.8,"endTime":34.08,"body":"getting in touch with us and for"},{"speaker":"Nick Lincoln","startTime":31.8,"endTime":34.08,"body":"letting us know what you'd like"},{"speaker":"Nick Lincoln","startTime":34.08,"endTime":36.54,"body":"us to discuss in future episodes"},{"speaker":"Nick Lincoln","startTime":34.08,"endTime":36.54,"body":"and giving us constructive"},{"speaker":"Nick Lincoln","startTime":36.54,"endTime":39.96,"body":"feedback and criticism. This is"},{"speaker":"Nick Lincoln","startTime":36.54,"endTime":39.96,"body":"a conversation between the four"},{"speaker":"Nick Lincoln","startTime":39.96,"endTime":42.81,"body":"of us but also with you the"},{"speaker":"Nick Lincoln","startTime":39.96,"endTime":42.81,"body":"listening audience. And also, if"},{"speaker":"Nick Lincoln","startTime":42.81,"endTime":45.78,"body":"you're watching us on YouTube,"},{"speaker":"Nick Lincoln","startTime":42.81,"endTime":45.78,"body":"please do like and subscribe."},{"speaker":"Nick Lincoln","startTime":45.81,"endTime":48.75,"body":"And final beg please, if you're"},{"speaker":"Nick Lincoln","startTime":45.81,"endTime":48.75,"body":"listening to this on iTunes, and"},{"speaker":"Nick Lincoln","startTime":48.75,"endTime":52.14,"body":"you probably are, can you leave"},{"speaker":"Nick Lincoln","startTime":48.75,"endTime":52.14,"body":"a six out of five star review,"},{"speaker":"Nick Lincoln","startTime":52.17,"endTime":54.48,"body":"it makes a massive difference"},{"speaker":"Nick Lincoln","startTime":52.17,"endTime":54.48,"body":"all those things combined, it's"},{"speaker":"Nick Lincoln","startTime":54.48,"endTime":56.64,"body":"a little click for you a little"},{"speaker":"Nick Lincoln","startTime":54.48,"endTime":56.64,"body":"swipe on your phone takes no"},{"speaker":"Nick Lincoln","startTime":56.64,"endTime":58.44,"body":"time at all, but it makes a"},{"speaker":"Nick Lincoln","startTime":56.64,"endTime":58.44,"body":"massive difference to our"},{"speaker":"Nick Lincoln","startTime":58.44,"endTime":61.56,"body":"rankings and ratings. And will"},{"speaker":"Nick Lincoln","startTime":58.44,"endTime":61.56,"body":"motivate us to keep on knocking"},{"speaker":"Nick Lincoln","startTime":61.56,"endTime":66.57,"body":"out these piles of trap. Okay,"},{"speaker":"Nick Lincoln","startTime":61.56,"endTime":66.57,"body":"without any further ado, let's"},{"speaker":"Nick Lincoln","startTime":66.57,"endTime":70.17,"body":"go into it guys. I'm going to"},{"speaker":"Nick Lincoln","startTime":66.57,"endTime":70.17,"body":"quickly just talk very first"},{"speaker":"Nick Lincoln","startTime":70.17,"endTime":74.85,"body":"about the contemporary issue the"},{"speaker":"Nick Lincoln","startTime":70.17,"endTime":74.85,"body":"budget which which wasn't called"},{"speaker":"Nick Lincoln","startTime":74.85,"endTime":78.21,"body":"a budget was it it was called"},{"speaker":"Nick Lincoln","startTime":74.85,"endTime":78.21,"body":"something else. I thought it was"},{"speaker":"Nick Lincoln","startTime":78.3,"endTime":81.99,"body":"great. I thought it was the"},{"speaker":"Nick Lincoln","startTime":78.3,"endTime":81.99,"body":"first small c conservative"},{"speaker":"Nick Lincoln","startTime":81.99,"endTime":85.05,"body":"budget we've had in a long long"},{"speaker":"Nick Lincoln","startTime":81.99,"endTime":85.05,"body":"time. It's upset all the right"},{"speaker":"Nick Lincoln","startTime":85.05,"endTime":88.53,"body":"people. I'm sorry, call this"},{"speaker":"Nick Lincoln","startTime":85.05,"endTime":88.53,"body":"this next couple of weeks might"},{"speaker":"Nick Lincoln","startTime":88.56,"endTime":92.37,"body":"might not be of interest to you."},{"speaker":"Nick Lincoln","startTime":88.56,"endTime":92.37,"body":"But for us in the UK it was it"},{"speaker":"Nick Lincoln","startTime":92.37,"endTime":97.89,"body":"was a taxation cutting budget."},{"speaker":"Nick Lincoln","startTime":92.37,"endTime":97.89,"body":"Great stuff you can be Alan and"},{"speaker":"Nick Lincoln","startTime":97.89,"endTime":98.85,"body":"immediate views."},{"speaker":"Andy Hart","startTime":103.86,"endTime":106.77,"body":"So Andrew Thiessen is"},{"speaker":"Andy Hart","startTime":103.86,"endTime":106.77,"body":"decent. Yeah."},{"speaker":"Alan Smith","startTime":108.9,"endTime":117.45,"body":"Thank you, Andrew."},{"speaker":"Alan Smith","startTime":108.9,"endTime":117.45,"body":"Wow, yeah. It was it was it?"},{"speaker":"Alan Smith","startTime":118.2,"endTime":120.78,"body":"What can you see, it was very"},{"speaker":"Alan Smith","startTime":118.2,"endTime":120.78,"body":"different to the last, however"},{"speaker":"Alan Smith","startTime":120.78,"endTime":127.17,"body":"many dozen budgets that we have"},{"speaker":"Alan Smith","startTime":120.78,"endTime":127.17,"body":"seen, you know, significant tax"},{"speaker":"Alan Smith","startTime":127.17,"endTime":131.16,"body":"cuts significantly, I guess, as"},{"speaker":"Alan Smith","startTime":127.17,"endTime":131.16,"body":"you say, Nick, this seems to be"},{"speaker":"Alan Smith","startTime":131.19,"endTime":135.21,"body":"a return to the original kind of"},{"speaker":"Alan Smith","startTime":131.19,"endTime":135.21,"body":"true values of a Conservative"},{"speaker":"Alan Smith","startTime":135.21,"endTime":137.97,"body":"Party, Conservative government,"},{"speaker":"Alan Smith","startTime":135.21,"endTime":137.97,"body":"which was all about sort of"},{"speaker":"Alan Smith","startTime":138.57,"endTime":143.19,"body":"lower taxes, less authoritarian,"},{"speaker":"Alan Smith","startTime":138.57,"endTime":143.19,"body":"less sort of government control"},{"speaker":"Alan Smith","startTime":143.22,"endTime":147.81,"body":"and relying upon kind of your"},{"speaker":"Alan Smith","startTime":143.22,"endTime":147.81,"body":"enterprise and entrepreneurs and"},{"speaker":"Alan Smith","startTime":147.81,"endTime":152.01,"body":"business to succeed. And I think"},{"speaker":"Alan Smith","startTime":147.81,"endTime":152.01,"body":"historically, that's been the"},{"speaker":"Alan Smith","startTime":152.07,"endTime":154.5,"body":"the American way, Americans have"},{"speaker":"Alan Smith","startTime":152.07,"endTime":154.5,"body":"been very much sort of self"},{"speaker":"Alan Smith","startTime":154.5,"endTime":158.85,"body":"starters. You know, in theory,"},{"speaker":"Alan Smith","startTime":154.5,"endTime":158.85,"body":"less government, certainly in"},{"speaker":"Alan Smith","startTime":158.85,"endTime":163.05,"body":"terms of comparison with other"},{"speaker":"Alan Smith","startTime":158.85,"endTime":163.05,"body":"countries. It's a huge gamble."},{"speaker":"Alan Smith","startTime":163.26,"endTime":167.61,"body":"Right is a huge gamble as we"},{"speaker":"Alan Smith","startTime":163.26,"endTime":167.61,"body":"speak today, the world the"},{"speaker":"Alan Smith","startTime":167.61,"endTime":170.55,"body":"markets don't like it, the"},{"speaker":"Alan Smith","startTime":167.61,"endTime":170.55,"body":"markets are saying, you know,"},{"speaker":"Alan Smith","startTime":170.55,"endTime":174.6,"body":"how are we going? How are you"},{"speaker":"Alan Smith","startTime":170.55,"endTime":174.6,"body":"going to succeed? Taking in less"},{"speaker":"Alan Smith","startTime":174.93,"endTime":178.8,"body":"tax pounds, whilst you've got a"},{"speaker":"Alan Smith","startTime":174.93,"endTime":178.8,"body":"big deficit while you are trying"},{"speaker":"Alan Smith","startTime":178.8,"endTime":182.01,"body":"to grow us way out of the"},{"speaker":"Alan Smith","startTime":178.8,"endTime":182.01,"body":"economy whilst inflation is at"},{"speaker":"Alan Smith","startTime":182.01,"endTime":185.31,"body":"record highs. It is a gamble."},{"speaker":"Alan Smith","startTime":182.01,"endTime":185.31,"body":"Some markets don't like it."},{"speaker":"Alan Smith","startTime":185.31,"endTime":187.47,"body":"That's not necessarily a bad"},{"speaker":"Alan Smith","startTime":185.31,"endTime":187.47,"body":"thing. Markets often get things"},{"speaker":"Alan Smith","startTime":187.47,"endTime":190.38,"body":"wrong in the short term tend to"},{"speaker":"Alan Smith","startTime":187.47,"endTime":190.38,"body":"iron out over the longer term,"},{"speaker":"Alan Smith","startTime":190.86,"endTime":194.4,"body":"pound has crashed to an all time"},{"speaker":"Alan Smith","startTime":190.86,"endTime":194.4,"body":"low against the dollar might see"},{"speaker":"Alan Smith","startTime":194.97,"endTime":197.43,"body":"more about the dollar, the"},{"speaker":"Alan Smith","startTime":194.97,"endTime":197.43,"body":"dollar strength as a global"},{"speaker":"Alan Smith","startTime":197.43,"endTime":201.78,"body":"currency, then the parents"},{"speaker":"Alan Smith","startTime":197.43,"endTime":201.78,"body":"weakness. I think the stock"},{"speaker":"Alan Smith","startTime":201.78,"endTime":206.25,"body":"market has taken a tumble as"},{"speaker":"Alan Smith","startTime":201.78,"endTime":206.25,"body":"well, the UK stock market less"},{"speaker":"Alan Smith","startTime":206.25,"endTime":209.01,"body":"impactful for those of us who"},{"speaker":"Alan Smith","startTime":206.25,"endTime":209.01,"body":"embrace global diversification"},{"speaker":"Alan Smith","startTime":209.01,"endTime":211.86,"body":"but not in the short term. I"},{"speaker":"Alan Smith","startTime":209.01,"endTime":211.86,"body":"think it's good, I think trying"},{"speaker":"Alan Smith","startTime":211.86,"endTime":214.89,"body":"to do the same thing time after"},{"speaker":"Alan Smith","startTime":211.86,"endTime":214.89,"body":"time. And you know that the last"},{"speaker":"Alan Smith","startTime":214.89,"endTime":219.45,"body":"number of budgets and kind of"},{"speaker":"Alan Smith","startTime":214.89,"endTime":219.45,"body":"fiscal decisions that have been"},{"speaker":"Alan Smith","startTime":219.45,"endTime":222.06,"body":"taken by the current government"},{"speaker":"Alan Smith","startTime":219.45,"endTime":222.06,"body":"haven't particularly worked."},{"speaker":"Alan Smith","startTime":222.69,"endTime":225.21,"body":"This is a as I say, this is a"},{"speaker":"Alan Smith","startTime":222.69,"endTime":225.21,"body":"risk. This is a gamble. I'm"},{"speaker":"Alan Smith","startTime":225.21,"endTime":227.25,"body":"positive for it. Time will tell."},{"speaker":"Andy Hart","startTime":228.54,"endTime":231.78,"body":"Isn't there that"},{"speaker":"Andy Hart","startTime":228.54,"endTime":231.78,"body":"famous things Laffer Curve? Is"},{"speaker":"Andy Hart","startTime":231.78,"endTime":235.95,"body":"it Arthur Laffer today's"},{"speaker":"Andy Hart","startTime":231.78,"endTime":235.95,"body":"economy? Laffer, Laffer, Laffer"},{"speaker":"Andy Hart","startTime":235.98,"endTime":236.4,"body":"laughter laughter?"},{"speaker":"Nick Lincoln","startTime":236.429,"endTime":239.069,"body":"Yeah, that"},{"speaker":"Nick Lincoln","startTime":236.429,"endTime":239.069,"body":"basically, and that the ideal"},{"speaker":"Nick Lincoln","startTime":239.069,"endTime":241.559,"body":"kind of sweet spot for the"},{"speaker":"Nick Lincoln","startTime":239.069,"endTime":241.559,"body":"income to top rate of income tax"},{"speaker":"Nick Lincoln","startTime":241.589,"endTime":246.839,"body":"is around 4038 to 40%. Yeah, the"},{"speaker":"Nick Lincoln","startTime":241.589,"endTime":246.839,"body":"moment you go over that people"},{"speaker":"Nick Lincoln","startTime":246.839,"endTime":249.809,"body":"find ways not to pay tax, and"},{"speaker":"Nick Lincoln","startTime":246.839,"endTime":249.809,"body":"the tax tech actually goes down."},{"speaker":"Nick Lincoln","startTime":249.809,"endTime":250.679,"body":"So but again,"},{"speaker":"Andy Hart","startTime":251.01,"endTime":253.8,"body":"but again, it's the"},{"speaker":"Andy Hart","startTime":251.01,"endTime":253.8,"body":"classic mainstream media, they"},{"speaker":"Andy Hart","startTime":253.8,"endTime":257.43,"body":"they tell us for years that if"},{"speaker":"Andy Hart","startTime":253.8,"endTime":257.43,"body":"you increase taxes by too much,"},{"speaker":"Andy Hart","startTime":257.49,"endTime":261.96,"body":"the tax state goes down. So they"},{"speaker":"Andy Hart","startTime":257.49,"endTime":261.96,"body":"do the opposite. And then they"},{"speaker":"Andy Hart","startTime":261.96,"endTime":264.78,"body":"start moaning that, you know,"},{"speaker":"Andy Hart","startTime":261.96,"endTime":264.78,"body":"the fact that they've decreased"},{"speaker":"Andy Hart","startTime":264.78,"endTime":267.48,"body":"the tax rates is, you know,"},{"speaker":"Andy Hart","startTime":264.78,"endTime":267.48,"body":"playing into the hands of the"},{"speaker":"Andy Hart","startTime":267.48,"endTime":268.59,"body":"millionaires and stuff it"},{"speaker":"Nick Lincoln","startTime":269.28,"endTime":271.17,"body":"can't win, Kenny,"},{"speaker":"Nick Lincoln","startTime":269.28,"endTime":271.17,"body":"I mean, I will just maybe become"},{"speaker":"Nick Lincoln","startTime":271.17,"endTime":274.2,"body":"close on this and Winston"},{"speaker":"Nick Lincoln","startTime":271.17,"endTime":274.2,"body":"Churchill, this this, this is a"},{"speaker":"Nick Lincoln","startTime":274.38,"endTime":276.72,"body":"genuine quote, isn't it? I mean,"},{"speaker":"Nick Lincoln","startTime":274.38,"endTime":276.72,"body":"so many things are attributed to"},{"speaker":"Nick Lincoln","startTime":276.72,"endTime":279.6,"body":"him. But he's once said, I"},{"speaker":"Nick Lincoln","startTime":276.72,"endTime":279.6,"body":"contend that for a nation to try"},{"speaker":"Nick Lincoln","startTime":279.63,"endTime":283.56,"body":"to tax itself into prosperity is"},{"speaker":"Nick Lincoln","startTime":279.63,"endTime":283.56,"body":"like a man standing in a bucket"},{"speaker":"Nick Lincoln","startTime":283.59,"endTime":287.7,"body":"and trying to lift himself up by"},{"speaker":"Nick Lincoln","startTime":283.59,"endTime":287.7,"body":"the handle. And if you think"},{"speaker":"Nick Lincoln","startTime":287.7,"endTime":290.34,"body":"this nation is prosperous now on"},{"speaker":"Nick Lincoln","startTime":287.7,"endTime":290.34,"body":"the back of 10 years worth of"},{"speaker":"Nick Lincoln","startTime":290.4,"endTime":293.43,"body":"ultra high taxation, then I want"},{"speaker":"Nick Lincoln","startTime":290.4,"endTime":293.43,"body":"to be on the same medication"},{"speaker":"Nick Lincoln","startTime":293.43,"endTime":296.13,"body":"you're on. So let's let's go on"},{"speaker":"Nick Lincoln","startTime":293.43,"endTime":296.13,"body":"over I"},{"speaker":"Carl Widger","startTime":296.13,"endTime":298.77,"body":"have a few comments"},{"speaker":"Carl Widger","startTime":296.13,"endTime":298.77,"body":"on that. Number one, I did look"},{"speaker":"Carl Widger","startTime":298.77,"endTime":302.4,"body":"at some of the stuff and I I"},{"speaker":"Carl Widger","startTime":298.77,"endTime":302.4,"body":"think the best explanation was"},{"speaker":"Carl Widger","startTime":302.4,"endTime":306.33,"body":"done on Twitter by Rosie Holt,"},{"speaker":"Carl Widger","startTime":302.4,"endTime":306.33,"body":"you should follow her. But"},{"speaker":"Carl Widger","startTime":306.36,"endTime":310.05,"body":"trickle down economics is very,"},{"speaker":"Carl Widger","startTime":306.36,"endTime":310.05,"body":"very funny. And number two, just"},{"speaker":"Carl Widger","startTime":310.05,"endTime":315.45,"body":"hearing about income tax rates,"},{"speaker":"Carl Widger","startTime":310.05,"endTime":315.45,"body":"there are 52% here. So we have a"},{"speaker":"Carl Widger","startTime":315.6,"endTime":319.02,"body":"long way to go. Our budget is"},{"speaker":"Carl Widger","startTime":315.6,"endTime":319.02,"body":"this week and I think the"},{"speaker":"Carl Widger","startTime":319.05,"endTime":323.04,"body":"budgets at the moment are there."},{"speaker":"Carl Widger","startTime":319.05,"endTime":323.04,"body":"The kinds of things I hear what"},{"speaker":"Carl Widger","startTime":323.04,"endTime":325.59,"body":"you're saying that, you know,"},{"speaker":"Carl Widger","startTime":323.04,"endTime":325.59,"body":"maybe will turn out right or"},{"speaker":"Carl Widger","startTime":325.68,"endTime":328.47,"body":"wrong or whatever, but it's kind"},{"speaker":"Carl Widger","startTime":325.68,"endTime":328.47,"body":"of important. They're getting it"},{"speaker":"Carl Widger","startTime":328.47,"endTime":331.74,"body":"right at the moment. There's a"},{"speaker":"Carl Widger","startTime":328.47,"endTime":331.74,"body":"lot of a lot of stuff coming"},{"speaker":"Carl Widger","startTime":331.74,"endTime":332.58,"body":"down the tracks, I think."},{"speaker":"Nick Lincoln","startTime":333.03,"endTime":336.03,"body":"Okay, just just to"},{"speaker":"Nick Lincoln","startTime":333.03,"endTime":336.03,"body":"close on this the term that the"},{"speaker":"Nick Lincoln","startTime":336.06,"endTime":339.18,"body":"pejorative term trickle down"},{"speaker":"Nick Lincoln","startTime":336.06,"endTime":339.18,"body":"economics was never used by the"},{"speaker":"Nick Lincoln","startTime":339.18,"endTime":343.05,"body":"monetarists it was it was"},{"speaker":"Nick Lincoln","startTime":339.18,"endTime":343.05,"body":"invented by the by the Keynesian"},{"speaker":"Nick Lincoln","startTime":343.05,"endTime":347.28,"body":"detractors of tax cuts in the"},{"speaker":"Nick Lincoln","startTime":343.05,"endTime":347.28,"body":"early 1980s. So you know, just"},{"speaker":"Nick Lincoln","startTime":347.28,"endTime":350.97,"body":"that there's a laden phrase."},{"speaker":"Nick Lincoln","startTime":347.28,"endTime":350.97,"body":"Okay, it's now moving on to more"},{"speaker":"Nick Lincoln","startTime":350.97,"endTime":354.15,"body":"and more stuff call in your,"},{"speaker":"Nick Lincoln","startTime":350.97,"endTime":354.15,"body":"your neck of the woods."},{"speaker":"Carl Widger","startTime":356.97,"endTime":363.42,"body":"The you know, what"},{"speaker":"Carl Widger","startTime":356.97,"endTime":363.42,"body":"I used to, I used to get mildly"},{"speaker":"Carl Widger","startTime":363.42,"endTime":365.85,"body":"offended by that. But actually,"},{"speaker":"Carl Widger","startTime":363.42,"endTime":365.85,"body":"with some of the stuff that's"},{"speaker":"Carl Widger","startTime":365.85,"endTime":368.7,"body":"happening at the moment, I'm"},{"speaker":"Carl Widger","startTime":365.85,"endTime":368.7,"body":"going to have to say, You know"},{"speaker":"Carl Widger","startTime":368.7,"endTime":371.82,"body":"what, you're absolutely right."},{"speaker":"Carl Widger","startTime":368.7,"endTime":371.82,"body":"So it was an article in the"},{"speaker":"Carl Widger","startTime":371.85,"endTime":374.94,"body":"Irish Independent, one of the"},{"speaker":"Carl Widger","startTime":371.85,"endTime":374.94,"body":"main newspapers here this"},{"speaker":"Carl Widger","startTime":374.94,"endTime":378.0,"body":"morning, Vanguard, we're"},{"speaker":"Carl Widger","startTime":374.94,"endTime":378.0,"body":"entering the pensions market in"},{"speaker":"Carl Widger","startTime":378.0,"endTime":381.15,"body":"Ireland, I got really excited."},{"speaker":"Carl Widger","startTime":378.0,"endTime":381.15,"body":"And then I read it and no,"},{"speaker":"Carl Widger","startTime":381.21,"endTime":384.12,"body":"actually they're not, you can"},{"speaker":"Carl Widger","startTime":381.21,"endTime":384.12,"body":"still access exactly the way you"},{"speaker":"Carl Widger","startTime":384.12,"endTime":389.04,"body":"could access them already. And"},{"speaker":"Carl Widger","startTime":384.12,"endTime":389.04,"body":"then Roy London, who you guys"},{"speaker":"Carl Widger","startTime":389.04,"endTime":391.89,"body":"would be familiar with are"},{"speaker":"Carl Widger","startTime":389.04,"endTime":391.89,"body":"entering the Irish market in"},{"speaker":"Carl Widger","startTime":391.89,"endTime":394.44,"body":"terms of pensions, so the new"},{"speaker":"Carl Widger","startTime":391.89,"endTime":394.44,"body":"protection and some really good"},{"speaker":"Carl Widger","startTime":394.44,"endTime":397.08,"body":"stuff, and their service is"},{"speaker":"Carl Widger","startTime":394.44,"endTime":397.08,"body":"really, really good. So, you"},{"speaker":"Carl Widger","startTime":397.08,"endTime":400.71,"body":"know, I was really hopeful for"},{"speaker":"Carl Widger","startTime":397.08,"endTime":400.71,"body":"good stuff coming from London, I"},{"speaker":"Carl Widger","startTime":400.71,"endTime":406.08,"body":"went on to their, their launch"},{"speaker":"Carl Widger","startTime":400.71,"endTime":406.08,"body":"webinar, we got 20 minutes of"},{"speaker":"Carl Widger","startTime":406.74,"endTime":409.26,"body":"the usual how great they are."},{"speaker":"Carl Widger","startTime":406.74,"endTime":409.26,"body":"And to be fair to them, their"},{"speaker":"Carl Widger","startTime":409.26,"endTime":412.86,"body":"services, fantastic. They only"},{"speaker":"Carl Widger","startTime":409.26,"endTime":412.86,"body":"deal through financial advisors,"},{"speaker":"Carl Widger","startTime":412.86,"endTime":416.49,"body":"so it's all good. And then they"},{"speaker":"Carl Widger","startTime":412.86,"endTime":416.49,"body":"put up the charges on it. So the"},{"speaker":"Carl Widger","startTime":416.49,"endTime":419.76,"body":"first thing was extra"},{"speaker":"Carl Widger","startTime":416.49,"endTime":419.76,"body":"allocation, the magic money for"},{"speaker":"Carl Widger","startTime":419.76,"endTime":426.12,"body":"percentage. And I just went I"},{"speaker":"Carl Widger","startTime":419.76,"endTime":426.12,"body":"just, I pressed escape, I come"},{"speaker":"Carl Widger","startTime":426.12,"endTime":429.84,"body":"out of the webinar, because it's"},{"speaker":"Carl Widger","startTime":426.12,"endTime":429.84,"body":"like, guys, you know, we we've"},{"speaker":"Carl Widger","startTime":429.84,"endTime":433.05,"body":"we've had, we have so many"},{"speaker":"Carl Widger","startTime":429.84,"endTime":433.05,"body":"opportunities at the moment, we"},{"speaker":"Carl Widger","startTime":433.05,"endTime":437.85,"body":"have an executive pension"},{"speaker":"Carl Widger","startTime":433.05,"endTime":437.85,"body":"debacle going on where I ops two"},{"speaker":"Carl Widger","startTime":437.85,"endTime":441.42,"body":"was introduced. So European"},{"speaker":"Carl Widger","startTime":437.85,"endTime":441.42,"body":"directive, so probably not"},{"speaker":"Carl Widger","startTime":441.42,"endTime":446.34,"body":"affecting you guys. Or maybe it"},{"speaker":"Carl Widger","startTime":441.42,"endTime":446.34,"body":"is, but the long the short of it"},{"speaker":"Carl Widger","startTime":446.34,"endTime":448.83,"body":"is the pension to the heart"},{"speaker":"Carl Widger","startTime":446.34,"endTime":448.83,"body":"United said, okay, all"},{"speaker":"Carl Widger","startTime":448.83,"endTime":451.11,"body":"providers, you're not actually"},{"speaker":"Carl Widger","startTime":448.83,"endTime":451.11,"body":"playing ball here, you're not"},{"speaker":"Carl Widger","startTime":451.11,"endTime":454.05,"body":"doing what you should be doing."},{"speaker":"Carl Widger","startTime":451.11,"endTime":454.05,"body":"So we're we're going to have to"},{"speaker":"Carl Widger","startTime":454.05,"endTime":457.83,"body":"stop doing executive pensions,"},{"speaker":"Carl Widger","startTime":454.05,"endTime":457.83,"body":"and we want you to do them via"},{"speaker":"Carl Widger","startTime":457.83,"endTime":461.37,"body":"these Master Trusts, which is, I"},{"speaker":"Carl Widger","startTime":457.83,"endTime":461.37,"body":"think, probably a good thing."},{"speaker":"Carl Widger","startTime":462.06,"endTime":467.22,"body":"And hopefully, we have an"},{"speaker":"Carl Widger","startTime":462.06,"endTime":467.22,"body":"opportunity now to do Master"},{"speaker":"Carl Widger","startTime":467.22,"endTime":471.27,"body":"Trusts the way you say it's done"},{"speaker":"Carl Widger","startTime":467.22,"endTime":471.27,"body":"in the UK or in the Netherlands"},{"speaker":"Carl Widger","startTime":471.27,"endTime":475.92,"body":"or in the US, right, proper"},{"speaker":"Carl Widger","startTime":471.27,"endTime":475.92,"body":"transparent, grown up charging"},{"speaker":"Carl Widger","startTime":475.92,"endTime":479.13,"body":"structures, right. But then"},{"speaker":"Carl Widger","startTime":475.92,"endTime":479.13,"body":"they're talking about maybe"},{"speaker":"Carl Widger","startTime":479.13,"endTime":481.53,"body":"putting exit penalties and"},{"speaker":"Carl Widger","startTime":479.13,"endTime":481.53,"body":"Master Trusts now exit"},{"speaker":"Carl Widger","startTime":481.53,"endTime":484.35,"body":"penalties, as we all know means"},{"speaker":"Carl Widger","startTime":481.53,"endTime":484.35,"body":"high commission, right. So"},{"speaker":"Carl Widger","startTime":484.35,"endTime":486.48,"body":"that's how they're gonna do,"},{"speaker":"Carl Widger","startTime":484.35,"endTime":486.48,"body":"they're going to pay the brokers"},{"speaker":"Carl Widger","startTime":486.48,"endTime":489.66,"body":"the high commission put an exit"},{"speaker":"Carl Widger","startTime":486.48,"endTime":489.66,"body":"penalties. And then if the"},{"speaker":"Carl Widger","startTime":489.66,"endTime":494.31,"body":"client stops paying or moves it"},{"speaker":"Carl Widger","startTime":489.66,"endTime":494.31,"body":"on, then the client that pays"},{"speaker":"Carl Widger","startTime":494.52,"endTime":500.46,"body":"Okay. Some, I'm just getting a"},{"speaker":"Carl Widger","startTime":494.52,"endTime":500.46,"body":"little bit demoralized, I have a"},{"speaker":"Carl Widger","startTime":500.46,"endTime":504.3,"body":"little bit of man flu. So maybe"},{"speaker":"Carl Widger","startTime":500.46,"endTime":504.3,"body":"my, my sense of being"},{"speaker":"Carl Widger","startTime":504.3,"endTime":507.54,"body":"demoralized today is"},{"speaker":"Carl Widger","startTime":504.3,"endTime":507.54,"body":"accentuated. But my God, when I"},{"speaker":"Carl Widger","startTime":507.54,"endTime":511.65,"body":"read those articles today, I"},{"speaker":"Carl Widger","startTime":507.54,"endTime":511.65,"body":"just went this is, you know, we"},{"speaker":"Carl Widger","startTime":511.65,"endTime":516.03,"body":"really, really have a massive"},{"speaker":"Carl Widger","startTime":511.65,"endTime":516.03,"body":"opportunity like i When was"},{"speaker":"Carl Widger","startTime":516.03,"endTime":519.63,"body":"already are brought into the UK"},{"speaker":"Carl Widger","startTime":516.03,"endTime":519.63,"body":"early 2000s. Like, here we are"},{"speaker":"Carl Widger","startTime":520.11,"endTime":525.96,"body":"2012 to 2012. Okay, so 10 years"},{"speaker":"Carl Widger","startTime":520.11,"endTime":525.96,"body":"on, you know, but we won't do"},{"speaker":"Carl Widger","startTime":525.96,"endTime":530.91,"body":"it, because it's the advisors"},{"speaker":"Carl Widger","startTime":525.96,"endTime":530.91,"body":"and the providers are looking"},{"speaker":"Carl Widger","startTime":530.91,"endTime":534.18,"body":"after themselves. And the"},{"speaker":"Carl Widger","startTime":530.91,"endTime":534.18,"body":"clients are last on the list"},{"speaker":"Carl Widger","startTime":534.18,"endTime":537.3,"body":"every single time. That's not"},{"speaker":"Carl Widger","startTime":534.18,"endTime":537.3,"body":"the way it should be done."},{"speaker":"Alan Smith","startTime":538.049,"endTime":542.819,"body":"Carl, first of all,"},{"speaker":"Alan Smith","startTime":538.049,"endTime":542.819,"body":"can I just on the last podcast"},{"speaker":"Alan Smith","startTime":542.819,"endTime":549.179,"body":"episode, you explained that"},{"speaker":"Alan Smith","startTime":542.819,"endTime":549.179,"body":"you've recently introduced"},{"speaker":"Alan Smith","startTime":549.179,"endTime":552.779,"body":"running water and electricity to"},{"speaker":"Alan Smith","startTime":549.179,"endTime":552.779,"body":"Ireland. Now you've had Vanguard"},{"speaker":"Alan Smith","startTime":552.779,"endTime":556.409,"body":"and Royal London come in. It's"},{"speaker":"Alan Smith","startTime":552.779,"endTime":556.409,"body":"not all bad news. Think he quite"},{"speaker":"Alan Smith","startTime":556.409,"endTime":560.639,"body":"big he can be good news. The"},{"speaker":"Alan Smith","startTime":556.409,"endTime":560.639,"body":"unfortunate thing here is you're"},{"speaker":"Alan Smith","startTime":560.639,"endTime":564.299,"body":"right this were an opportunity"},{"speaker":"Alan Smith","startTime":560.639,"endTime":564.299,"body":"comes along and it's not"},{"speaker":"Alan Smith","startTime":564.299,"endTime":568.499,"body":"embraced. If we go back to those"},{"speaker":"Alan Smith","startTime":564.299,"endTime":568.499,"body":"days of RDR. In the UK, there"},{"speaker":"Alan Smith","startTime":568.499,"endTime":572.609,"body":"was lots of doom and gloom about"},{"speaker":"Alan Smith","startTime":568.499,"endTime":572.609,"body":"it because people in the"},{"speaker":"Alan Smith","startTime":572.609,"endTime":576.239,"body":"industry had a view that clients"},{"speaker":"Alan Smith","startTime":572.609,"endTime":576.239,"body":"weren't going to like paying"},{"speaker":"Alan Smith","startTime":576.239,"endTime":579.419,"body":"fees. If I go back before that"},{"speaker":"Alan Smith","startTime":576.239,"endTime":579.419,"body":"to commission disclosure was"},{"speaker":"Alan Smith","startTime":579.419,"endTime":581.549,"body":"brought in years and years ago."},{"speaker":"Unknown","startTime":585.659,"endTime":591.089,"body":"Grab yourself a drink a"},{"speaker":"Unknown","startTime":585.659,"endTime":591.089,"body":"very long drink it Storytime"},{"speaker":"Unknown","startTime":591.299,"endTime":592.769,"body":"with Alan Smith."},{"speaker":"Alan Smith","startTime":599.279,"endTime":602.369,"body":"This good any more"},{"speaker":"Alan Smith","startTime":599.279,"endTime":602.369,"body":"of those of you got, there's not"},{"speaker":"Alan Smith","startTime":602.369,"endTime":606.389,"body":"as thorough I'm just reflecting"},{"speaker":"Alan Smith","startTime":602.369,"endTime":606.389,"body":"back. And all this stuff that"},{"speaker":"Alan Smith","startTime":606.389,"endTime":609.269,"body":"was supposed to end our"},{"speaker":"Alan Smith","startTime":606.389,"endTime":609.269,"body":"industry, what it did was make"},{"speaker":"Alan Smith","startTime":609.269,"endTime":612.449,"body":"us better, we had to be sharper,"},{"speaker":"Alan Smith","startTime":609.269,"endTime":612.449,"body":"we had to articulate our value,"},{"speaker":"Alan Smith","startTime":612.599,"endTime":616.469,"body":"better cleanse all the bad"},{"speaker":"Alan Smith","startTime":612.599,"endTime":616.469,"body":"advisors out. Yeah. And so, but"},{"speaker":"Alan Smith","startTime":616.469,"endTime":619.799,"body":"at some stage, somebody, I mean,"},{"speaker":"Alan Smith","startTime":616.469,"endTime":619.799,"body":"what's what's the what's the,"},{"speaker":"Alan Smith","startTime":619.829,"endTime":622.619,"body":"what's the regulator, like in"},{"speaker":"Alan Smith","startTime":619.829,"endTime":622.619,"body":"Ireland, because we've got,"},{"speaker":"Alan Smith","startTime":622.709,"endTime":625.109,"body":"we've historically had one of"},{"speaker":"Alan Smith","startTime":622.709,"endTime":625.109,"body":"the toughest regulators in the"},{"speaker":"Alan Smith","startTime":625.109,"endTime":629.009,"body":"world. And I gather that, you"},{"speaker":"Alan Smith","startTime":625.109,"endTime":629.009,"body":"know, places around the world"},{"speaker":"Alan Smith","startTime":629.009,"endTime":631.349,"body":"look to the UK, um, you know,"},{"speaker":"Alan Smith","startTime":629.009,"endTime":631.349,"body":"we've got a love hate"},{"speaker":"Alan Smith","startTime":631.349,"endTime":634.409,"body":"relationship with our current"},{"speaker":"Alan Smith","startTime":631.349,"endTime":634.409,"body":"regulator, but some of what they"},{"speaker":"Alan Smith","startTime":634.409,"endTime":636.749,"body":"do is actually pretty good. Or"},{"speaker":"Alan Smith","startTime":634.409,"endTime":636.749,"body":"brought"},{"speaker":"Carl Widger","startTime":637.47,"endTime":639.63,"body":"the Irish I'd say"},{"speaker":"Carl Widger","startTime":637.47,"endTime":639.63,"body":"the Irish regulator is quite"},{"speaker":"Carl Widger","startTime":639.63,"endTime":645.06,"body":"good, quite strong. But there"},{"speaker":"Carl Widger","startTime":639.63,"endTime":645.06,"body":"are way, way, way too many"},{"speaker":"Carl Widger","startTime":645.06,"endTime":648.84,"body":"advisors and the reasons there's"},{"speaker":"Carl Widger","startTime":645.06,"endTime":648.84,"body":"way too many advisors, if you"},{"speaker":"Carl Widger","startTime":648.84,"endTime":655.29,"body":"have a 400, round pension"},{"speaker":"Carl Widger","startTime":648.84,"endTime":655.29,"body":"client, right. And every five"},{"speaker":"Carl Widger","startTime":655.29,"endTime":658.86,"body":"years, you can make 20 grand"},{"speaker":"Carl Widger","startTime":655.29,"endTime":658.86,"body":"commission on moving to another"},{"speaker":"Carl Widger","startTime":658.86,"endTime":663.18,"body":"provider. You don't need you, we"},{"speaker":"Carl Widger","startTime":658.86,"endTime":663.18,"body":"were talking about, you know, do"},{"speaker":"Carl Widger","startTime":663.18,"endTime":666.54,"body":"you need 50 or 100 families, you"},{"speaker":"Carl Widger","startTime":663.18,"endTime":666.54,"body":"could get by on about 10."},{"speaker":"Nick Lincoln","startTime":666.719,"endTime":669.359,"body":"Right. And so"},{"speaker":"Nick Lincoln","startTime":666.719,"endTime":669.359,"body":"going back to the that, so going"},{"speaker":"Nick Lincoln","startTime":669.359,"endTime":670.619,"body":"back in time, hit two here."},{"speaker":"Carl Widger","startTime":674.52,"endTime":678.27,"body":"Come on, come on,"},{"speaker":"Carl Widger","startTime":674.52,"endTime":678.27,"body":"you can be a part time advisor"},{"speaker":"Carl Widger","startTime":678.27,"endTime":681.57,"body":"with a few, and just every five"},{"speaker":"Carl Widger","startTime":678.27,"endTime":681.57,"body":"years moving around, and there"},{"speaker":"Carl Widger","startTime":681.57,"endTime":685.26,"body":"are and we have seen them in"},{"speaker":"Carl Widger","startTime":681.57,"endTime":685.26,"body":"Metis. Ireland, there are cases"},{"speaker":"Carl Widger","startTime":685.26,"endTime":688.02,"body":"where they don't even wait to"},{"speaker":"Carl Widger","startTime":685.26,"endTime":688.02,"body":"five years so that they move the"},{"speaker":"Carl Widger","startTime":688.02,"endTime":691.41,"body":"client, they'll take an extra"},{"speaker":"Carl Widger","startTime":688.02,"endTime":691.41,"body":"penalty years to the client has"},{"speaker":"Carl Widger","startTime":691.41,"endTime":694.5,"body":"been hit by an exit penalty, and"},{"speaker":"Carl Widger","startTime":691.41,"endTime":694.5,"body":"the advisor gets the 5%"},{"speaker":"Carl Widger","startTime":694.5,"endTime":696.99,"body":"Commission up front again. And"},{"speaker":"Carl Widger","startTime":694.5,"endTime":696.99,"body":"there is is there I've always"},{"speaker":"Carl Widger","startTime":696.99,"endTime":699.78,"body":"argued there's a really simple"},{"speaker":"Carl Widger","startTime":696.99,"endTime":699.78,"body":"solution to this for existing"},{"speaker":"Carl Widger","startTime":699.78,"endTime":705.12,"body":"pension funds, just ban any"},{"speaker":"Carl Widger","startTime":699.78,"endTime":705.12,"body":"commission just banish the say"},{"speaker":"Carl Widger","startTime":705.18,"endTime":707.94,"body":"so then you can only move them"},{"speaker":"Carl Widger","startTime":705.18,"endTime":707.94,"body":"if it's in their best interest,"},{"speaker":"Carl Widger","startTime":707.94,"endTime":712.62,"body":"by all means take trail on your"},{"speaker":"Carl Widger","startTime":707.94,"endTime":712.62,"body":"trail. But stop this upfront"},{"speaker":"Carl Widger","startTime":712.62,"endTime":715.44,"body":"commission monarchy because it"},{"speaker":"Carl Widger","startTime":712.62,"endTime":715.44,"body":"is not doing us any good. And"},{"speaker":"Carl Widger","startTime":715.8,"endTime":719.76,"body":"it's not you made a point there,"},{"speaker":"Carl Widger","startTime":715.8,"endTime":719.76,"body":"Alan, you know, what did RDR it"},{"speaker":"Carl Widger","startTime":719.76,"endTime":724.65,"body":"made you better? And how can we"},{"speaker":"Carl Widger","startTime":719.76,"endTime":724.65,"body":"become a profession? You know,"},{"speaker":"Carl Widger","startTime":724.65,"endTime":728.43,"body":"we can we can actually start"},{"speaker":"Carl Widger","startTime":724.65,"endTime":728.43,"body":"looking towards giving our"},{"speaker":"Carl Widger","startTime":728.43,"endTime":733.38,"body":"clients the best service"},{"speaker":"Carl Widger","startTime":728.43,"endTime":733.38,"body":"possible. act with integrity and"},{"speaker":"Carl Widger","startTime":733.38,"endTime":735.63,"body":"in the clients best interest."},{"speaker":"Carl Widger","startTime":733.38,"endTime":735.63,"body":"It's written on the wall behind"},{"speaker":"Carl Widger","startTime":735.63,"endTime":735.84,"body":"me."},{"speaker":"Alan Smith","startTime":736.86,"endTime":739.29,"body":"But why do you think"},{"speaker":"Alan Smith","startTime":736.86,"endTime":739.29,"body":"that's not happening then, in"},{"speaker":"Alan Smith","startTime":739.29,"endTime":741.6,"body":"our advise the regulator"},{"speaker":"Alan Smith","startTime":739.29,"endTime":741.6,"body":"allowing this to happen because"},{"speaker":"Alan Smith","startTime":741.6,"endTime":744.96,"body":"it's it cannot be in the clients"},{"speaker":"Alan Smith","startTime":741.6,"endTime":744.96,"body":"best long term interests. And"},{"speaker":"Alan Smith","startTime":744.96,"endTime":747.66,"body":"that's surely their number one"},{"speaker":"Alan Smith","startTime":744.96,"endTime":747.66,"body":"remit is to look after the"},{"speaker":"Alan Smith","startTime":747.66,"endTime":748.23,"body":"consumer."},{"speaker":"Carl Widger","startTime":749.279,"endTime":752.099,"body":"Of course, there's"},{"speaker":"Carl Widger","startTime":749.279,"endTime":752.099,"body":"lobby groups that will make the"},{"speaker":"Carl Widger","startTime":752.099,"endTime":758.699,"body":"point that I'm wrong. And and I"},{"speaker":"Carl Widger","startTime":752.099,"endTime":758.699,"body":"will, you know, my man flu"},{"speaker":"Carl Widger","startTime":758.699,"endTime":761.339,"body":"protestations this morning will"},{"speaker":"Carl Widger","startTime":758.699,"endTime":761.339,"body":"probably come back to haunt me,"},{"speaker":"Carl Widger","startTime":761.339,"endTime":764.279,"body":"right. But hey, I just call it"},{"speaker":"Carl Widger","startTime":761.339,"endTime":764.279,"body":"as it is. And I've been very,"},{"speaker":"Carl Widger","startTime":764.279,"endTime":767.369,"body":"very consistent with this for a"},{"speaker":"Carl Widger","startTime":764.279,"endTime":767.369,"body":"very, very, very long time."},{"speaker":"Nick Lincoln","startTime":767.909,"endTime":771.749,"body":"And it's just so"},{"speaker":"Nick Lincoln","startTime":767.909,"endTime":771.749,"body":"just wrapping a bow on this as a"},{"speaker":"Nick Lincoln","startTime":771.749,"endTime":777.299,"body":"conscious of, yes, it's, it just"},{"speaker":"Nick Lincoln","startTime":771.749,"endTime":777.299,"body":"sounds it sounds retrograde. But"},{"speaker":"Nick Lincoln","startTime":777.359,"endTime":780.269,"body":"from your point of view, because"},{"speaker":"Nick Lincoln","startTime":777.359,"endTime":780.269,"body":"you're, you're you're going out"},{"speaker":"Nick Lincoln","startTime":780.269,"endTime":784.649,"body":"on a limb really, and then there"},{"speaker":"Nick Lincoln","startTime":780.269,"endTime":784.649,"body":"are you know, your your, your"},{"speaker":"Nick Lincoln","startTime":784.679,"endTime":788.459,"body":"way will eventually be in"},{"speaker":"Nick Lincoln","startTime":784.679,"endTime":788.459,"body":"Ireland. So in a way this is"},{"speaker":"Nick Lincoln","startTime":788.459,"endTime":790.619,"body":"this is this is a positive view,"},{"speaker":"Nick Lincoln","startTime":788.459,"endTime":790.619,"body":"because it gives you a real"},{"speaker":"Nick Lincoln","startTime":790.619,"endTime":794.369,"body":"chance to differentiate again,"},{"speaker":"Nick Lincoln","startTime":790.619,"endTime":794.369,"body":"and to say this, and this is the"},{"speaker":"Nick Lincoln","startTime":794.369,"endTime":796.679,"body":"way it's done, this is the way"},{"speaker":"Nick Lincoln","startTime":794.369,"endTime":796.679,"body":"it's always been done. We don't"},{"speaker":"Nick Lincoln","startTime":826.7189999999999,"endTime":829.299,"body":"think it's right, this is how we"},{"speaker":"Nick Lincoln","startTime":826.7189999999999,"endTime":829.299,"body":"do it. And this is why we're"},{"speaker":"Nick Lincoln","startTime":829.299,"endTime":832.449,"body":"going to do it for you. And this"},{"speaker":"Nick Lincoln","startTime":829.299,"endTime":832.449,"body":"is our value proposition and I,"},{"speaker":"Nick Lincoln","startTime":832.929,"endTime":837.459,"body":"you know, making a silk purse"},{"speaker":"Nick Lincoln","startTime":832.929,"endTime":837.459,"body":"out about whatever. You know,"},{"speaker":"Nick Lincoln","startTime":837.459,"endTime":839.4689999999999,"body":"from that point of view, I think"},{"speaker":"Nick Lincoln","startTime":837.459,"endTime":839.4689999999999,"body":"it's it's going to help your"},{"speaker":"Nick Lincoln","startTime":839.4689999999999,"endTime":842.3489999999999,"body":"business just differentiate"},{"speaker":"Nick Lincoln","startTime":839.4689999999999,"endTime":842.3489999999999,"body":"itself quite quite dramatic."},{"speaker":"Nick Lincoln","startTime":842.3489999999999,"endTime":842.4989999999999,"body":"Yeah."},{"speaker":"Carl Widger","startTime":842.53,"endTime":845.41,"body":"And look, I should"},{"speaker":"Carl Widger","startTime":842.53,"endTime":845.41,"body":"say, before we wrap this up,"},{"speaker":"Carl Widger","startTime":845.41,"endTime":850.36,"body":"there are some really good firms"},{"speaker":"Carl Widger","startTime":845.41,"endTime":850.36,"body":"doing it the right way. And the"},{"speaker":"Carl Widger","startTime":850.4499999999999,"endTime":852.37,"body":"amount of really good firms"},{"speaker":"Carl Widger","startTime":850.4499999999999,"endTime":852.37,"body":"doing it the right way is"},{"speaker":"Carl Widger","startTime":852.37,"endTime":857.17,"body":"increasing every single year. So"},{"speaker":"Carl Widger","startTime":852.37,"endTime":857.17,"body":"we are making progress. There is"},{"speaker":"Carl Widger","startTime":857.17,"endTime":860.5,"body":"progress be made, but not enough"},{"speaker":"Carl Widger","startTime":857.17,"endTime":860.5,"body":"in my view. And when you have"},{"speaker":"Carl Widger","startTime":860.5,"endTime":863.53,"body":"the just, I just saw an"},{"speaker":"Carl Widger","startTime":860.5,"endTime":863.53,"body":"opportunity for Royal London"},{"speaker":"Carl Widger","startTime":863.53,"endTime":866.56,"body":"common from a very mature"},{"speaker":"Carl Widger","startTime":863.53,"endTime":866.56,"body":"market, do something a little"},{"speaker":"Carl Widger","startTime":866.56,"endTime":870.9699999999999,"body":"bit different. And they just,"},{"speaker":"Carl Widger","startTime":866.56,"endTime":870.9699999999999,"body":"they will maybe I exit out of"},{"speaker":"Carl Widger","startTime":870.9699999999999,"endTime":873.91,"body":"the webinar too early. And I'm"},{"speaker":"Carl Widger","startTime":870.9699999999999,"endTime":873.91,"body":"sure they're going to be ensuite"},{"speaker":"Carl Widger","startTime":873.91,"endTime":877.6899999999999,"body":"after this. And I'd be all"},{"speaker":"Carl Widger","startTime":873.91,"endTime":877.6899999999999,"body":"yours. But I just when I saw"},{"speaker":"Carl Widger","startTime":878.0799999999999,"endTime":881.92,"body":"allocation rates and clawback or"},{"speaker":"Carl Widger","startTime":878.0799999999999,"endTime":881.92,"body":"commission or exit penalties or"},{"speaker":"Carl Widger","startTime":881.9499999999999,"endTime":884.41,"body":"you know, yeah, that's,"},{"speaker":"Nick Lincoln","startTime":885.069,"endTime":886.419,"body":"I can only"},{"speaker":"Nick Lincoln","startTime":885.069,"endTime":886.419,"body":"imagine, okay, that's great"},{"speaker":"Nick Lincoln","startTime":886.419,"endTime":889.1189999999999,"body":"stuff. So, things to discuss, I"},{"speaker":"Nick Lincoln","startTime":886.419,"endTime":889.1189999999999,"body":"don't know who wants to go"},{"speaker":"Nick Lincoln","startTime":889.1189999999999,"endTime":892.269,"body":"first. And uh, you did mention"},{"speaker":"Nick Lincoln","startTime":889.1189999999999,"endTime":892.269,"body":"that subject of welcome"},{"speaker":"Nick Lincoln","startTime":892.269,"endTime":895.569,"body":"meetings. Do you want to? Do you"},{"speaker":"Nick Lincoln","startTime":892.269,"endTime":895.569,"body":"want to tell the ladies and"},{"speaker":"Nick Lincoln","startTime":895.569,"endTime":897.2189999999999,"body":"gents what your what your"},{"speaker":"Nick Lincoln","startTime":895.569,"endTime":897.2189999999999,"body":"thoughts are?"},{"speaker":"Andy Hart","startTime":897.9699999999999,"endTime":900.5799999999999,"body":"Yeah, sure. I mean,"},{"speaker":"Andy Hart","startTime":897.9699999999999,"endTime":900.5799999999999,"body":"I'm sure quite a few people have"},{"speaker":"Andy Hart","startTime":900.5799999999999,"endTime":903.79,"body":"introduced these anyway to their"},{"speaker":"Andy Hart","startTime":900.5799999999999,"endTime":903.79,"body":"businesses. I've introduced it"},{"speaker":"Andy Hart","startTime":903.79,"endTime":907.4499999999999,"body":"to my businesses this year. I"},{"speaker":"Andy Hart","startTime":903.79,"endTime":907.4499999999999,"body":"was doing it sort of less"},{"speaker":"Andy Hart","startTime":907.4499999999999,"endTime":910.36,"body":"intentionally, I suppose I've"},{"speaker":"Andy Hart","startTime":907.4499999999999,"endTime":910.36,"body":"just introduced it more more"},{"speaker":"Andy Hart","startTime":910.36,"endTime":913.3,"body":"intentionally. And this is when"},{"speaker":"Andy Hart","startTime":910.36,"endTime":913.3,"body":"you take on a new client. And"},{"speaker":"Andy Hart","startTime":913.3,"endTime":918.37,"body":"there's all of this admin"},{"speaker":"Andy Hart","startTime":913.3,"endTime":918.37,"body":"paperwork to and fro in filling"},{"speaker":"Andy Hart","startTime":918.37,"endTime":921.31,"body":"in forms DocuSign, building"},{"speaker":"Andy Hart","startTime":918.37,"endTime":921.31,"body":"financial plans, presenting"},{"speaker":"Andy Hart","startTime":921.31,"endTime":924.43,"body":"financial plans, setting up the"},{"speaker":"Andy Hart","startTime":921.31,"endTime":924.43,"body":"paperwork, direct debits, yada,"},{"speaker":"Andy Hart","startTime":924.43,"endTime":928.6899999999999,"body":"yada, yada. And once all that's"},{"speaker":"Andy Hart","startTime":924.43,"endTime":928.6899999999999,"body":"done, it becomes a bit quieter."},{"speaker":"Andy Hart","startTime":928.7199999999999,"endTime":930.25,"body":"So then you're like, right,"},{"speaker":"Andy Hart","startTime":928.7199999999999,"endTime":930.25,"body":"we're going to do We're gonna"},{"speaker":"Andy Hart","startTime":930.25,"endTime":934.6899999999999,"body":"have a welcome meeting. And"},{"speaker":"Andy Hart","startTime":930.25,"endTime":934.6899999999999,"body":"we're going to set out basically"},{"speaker":"Andy Hart","startTime":934.6899999999999,"endTime":939.28,"body":"how everything works. So, you"},{"speaker":"Andy Hart","startTime":934.6899999999999,"endTime":939.28,"body":"know, reconfirm you know, their"},{"speaker":"Andy Hart","startTime":939.28,"endTime":942.0999999999999,"body":"investment setup, you know what,"},{"speaker":"Andy Hart","startTime":939.28,"endTime":942.0999999999999,"body":"what they're invested in, what"},{"speaker":"Andy Hart","startTime":942.0999999999999,"endTime":946.48,"body":"does it mean? How they need to"},{"speaker":"Andy Hart","startTime":942.0999999999999,"endTime":946.48,"body":"contact me to book meetings, who"},{"speaker":"Andy Hart","startTime":946.48,"endTime":949.24,"body":"they speak to, they don't speak"},{"speaker":"Andy Hart","startTime":946.48,"endTime":949.24,"body":"to a bit of recap about how the"},{"speaker":"Andy Hart","startTime":949.24,"endTime":951.55,"body":"investment markets gonna work,"},{"speaker":"Andy Hart","startTime":949.24,"endTime":951.55,"body":"how we communicate with each"},{"speaker":"Andy Hart","startTime":951.55,"endTime":956.56,"body":"other, email, WhatsApp, etc."},{"speaker":"Andy Hart","startTime":951.55,"endTime":956.56,"body":"Yeah, and just be a bit more"},{"speaker":"Andy Hart","startTime":956.56,"endTime":960.13,"body":"intentional once they're,"},{"speaker":"Andy Hart","startTime":956.56,"endTime":960.13,"body":"they've been on boarded as"},{"speaker":"Andy Hart","startTime":960.13,"endTime":965.23,"body":"clients. So yeah, I just wanted"},{"speaker":"Andy Hart","startTime":960.13,"endTime":965.23,"body":"to, yeah, to the fact with you"},{"speaker":"Andy Hart","startTime":965.23,"endTime":968.9499999999999,"body":"guys around the around welcome"},{"speaker":"Andy Hart","startTime":965.23,"endTime":968.9499999999999,"body":"meetings, I know, various people"},{"speaker":"Andy Hart","startTime":968.9499999999999,"endTime":971.29,"body":"on the call would have done"},{"speaker":"Andy Hart","startTime":968.9499999999999,"endTime":971.29,"body":"different things on this. So"},{"speaker":"Andy Hart","startTime":971.29,"endTime":971.65,"body":"yeah,"},{"speaker":"Nick Lincoln","startTime":971.65,"endTime":973.81,"body":"I mean, I, I quit"},{"speaker":"Nick Lincoln","startTime":971.65,"endTime":973.81,"body":"to get my butt out of the way."},{"speaker":"Nick Lincoln","startTime":973.81,"endTime":976.42,"body":"And then I'll let the more"},{"speaker":"Nick Lincoln","startTime":973.81,"endTime":976.42,"body":"mature business people take"},{"speaker":"Nick Lincoln","startTime":976.42,"endTime":980.86,"body":"over. I mean, I'm pretty I don't"},{"speaker":"Nick Lincoln","startTime":976.42,"endTime":980.86,"body":"do much, which might come as a"},{"speaker":"Nick Lincoln","startTime":980.86,"endTime":986.29,"body":"massive surprise to nobody. I,"},{"speaker":"Nick Lincoln","startTime":980.86,"endTime":986.29,"body":"you know, I there is this chasm"},{"speaker":"Nick Lincoln","startTime":986.29,"endTime":990.01,"body":"isn't there you have the"},{"speaker":"Nick Lincoln","startTime":986.29,"endTime":990.01,"body":"discovery meetings. And you say,"},{"speaker":"Nick Lincoln","startTime":990.01,"endTime":992.41,"body":"This is what our cost is. And"},{"speaker":"Nick Lincoln","startTime":990.01,"endTime":992.41,"body":"you decide Mr. Club, what the"},{"speaker":"Nick Lincoln","startTime":992.41,"endTime":994.81,"body":"value is, because it's always"},{"speaker":"Nick Lincoln","startTime":992.41,"endTime":994.81,"body":"the purchaser that decides the"},{"speaker":"Nick Lincoln","startTime":994.81,"endTime":997.3299999999999,"body":"value, not the provider. But"},{"speaker":"Nick Lincoln","startTime":994.81,"endTime":997.3299999999999,"body":"that's we'll come on to that and"},{"speaker":"Nick Lincoln","startTime":997.3299999999999,"endTime":1000.99,"body":"another other day about consumer"},{"speaker":"Nick Lincoln","startTime":997.3299999999999,"endTime":1000.99,"body":"duty, and their clients go away"},{"speaker":"Nick Lincoln","startTime":1000.99,"endTime":1002.49,"body":"and decide and then they come"},{"speaker":"Nick Lincoln","startTime":1000.99,"endTime":1002.49,"body":"back to you. So we'd love to"},{"speaker":"Nick Lincoln","startTime":1002.49,"endTime":1006.03,"body":"work with you. And yes, it is at"},{"speaker":"Nick Lincoln","startTime":1002.49,"endTime":1006.03,"body":"that painful process, then is"},{"speaker":"Nick Lincoln","startTime":1006.06,"endTime":1008.25,"body":"far less painful now than it"},{"speaker":"Nick Lincoln","startTime":1006.06,"endTime":1008.25,"body":"used to be with DocuSign. And"},{"speaker":"Nick Lincoln","startTime":1008.25,"endTime":1010.38,"body":"everything else, they come on"},{"speaker":"Nick Lincoln","startTime":1008.25,"endTime":1010.38,"body":"board, and then they kind of"},{"speaker":"Nick Lincoln","startTime":1010.38,"endTime":1012.5699999999999,"body":"hear radio silence for me"},{"speaker":"Nick Lincoln","startTime":1010.38,"endTime":1012.5699999999999,"body":"because I won't speak to them"},{"speaker":"Nick Lincoln","startTime":1012.5699999999999,"endTime":1014.73,"body":"until the next Annual planning"},{"speaker":"Nick Lincoln","startTime":1012.5699999999999,"endTime":1014.73,"body":"meeting. But obviously, that the"},{"speaker":"Nick Lincoln","startTime":1014.73,"endTime":1016.8,"body":"channels of communication are"},{"speaker":"Nick Lincoln","startTime":1014.73,"endTime":1016.8,"body":"always open, but I don't do"},{"speaker":"Nick Lincoln","startTime":1016.8,"endTime":1019.4699999999999,"body":"anything. From that moment when"},{"speaker":"Nick Lincoln","startTime":1016.8,"endTime":1019.4699999999999,"body":"their portfolios are set up when"},{"speaker":"Nick Lincoln","startTime":1019.4699999999999,"endTime":1022.05,"body":"their financial plan initial"},{"speaker":"Nick Lincoln","startTime":1019.4699999999999,"endTime":1022.05,"body":"plan has been done for another"},{"speaker":"Nick Lincoln","startTime":1022.05,"endTime":1025.68,"body":"12 months. And maybe I should"},{"speaker":"Nick Lincoln","startTime":1022.05,"endTime":1025.68,"body":"just finesse it a little bit"},{"speaker":"Nick Lincoln","startTime":1025.68,"endTime":1029.3700000000001,"body":"more, check in after say three"},{"speaker":"Nick Lincoln","startTime":1025.68,"endTime":1029.3700000000001,"body":"months. You know, just let you"},{"speaker":"Nick Lincoln","startTime":1029.3700000000001,"endTime":1031.05,"body":"know, everything is set up, as"},{"speaker":"Nick Lincoln","startTime":1029.3700000000001,"endTime":1031.05,"body":"you know, but I just wanted to"},{"speaker":"Nick Lincoln","startTime":1031.05,"endTime":1032.97,"body":"confirm that with you."},{"speaker":"Nick Lincoln","startTime":1031.05,"endTime":1032.97,"body":"Everything is hunky dory, look"},{"speaker":"Nick Lincoln","startTime":1032.97,"endTime":1034.83,"body":"forward to speaking with you."},{"speaker":"Nick Lincoln","startTime":1032.97,"endTime":1034.83,"body":"You know, I don't know how often"},{"speaker":"Nick Lincoln","startTime":1034.83,"endTime":1037.08,"body":"the cadence should be in terms"},{"speaker":"Nick Lincoln","startTime":1034.83,"endTime":1037.08,"body":"of that kind of thing. I think"},{"speaker":"Nick Lincoln","startTime":1037.08,"endTime":1041.82,"body":"one planning meeting a year is"},{"speaker":"Nick Lincoln","startTime":1037.08,"endTime":1041.82,"body":"definitely enough. Yeah, guys."},{"speaker":"Nick Lincoln","startTime":1046.95,"endTime":1047.43,"body":"Okay,"},{"speaker":"Alan Smith","startTime":1048.51,"endTime":1050.94,"body":"don't play the"},{"speaker":"Alan Smith","startTime":1048.51,"endTime":1050.94,"body":"jingle again. Take we only have"},{"speaker":"Alan Smith","startTime":1050.94,"endTime":1053.6100000000001,"body":"one of them per episode. Okay."},{"speaker":"Alan Smith","startTime":1050.94,"endTime":1053.6100000000001,"body":"But I'll tell you, I'll tell you"},{"speaker":"Alan Smith","startTime":1053.6100000000001,"endTime":1056.1,"body":"a little bit of background to"},{"speaker":"Alan Smith","startTime":1053.6100000000001,"endTime":1056.1,"body":"this though."},{"speaker":"Nick Lincoln","startTime":1059.3999999999999,"endTime":1060.6,"body":"My hands are"},{"speaker":"Nick Lincoln","startTime":1059.3999999999999,"endTime":1060.6,"body":"wiping the mouse."},{"speaker":"Alan Smith","startTime":1062.1,"endTime":1064.83,"body":"Yes, we've been"},{"speaker":"Alan Smith","startTime":1062.1,"endTime":1064.83,"body":"doing a version of this for a"},{"speaker":"Alan Smith","startTime":1064.83,"endTime":1069.8999999999999,"body":"decade. We, I mean, many years"},{"speaker":"Alan Smith","startTime":1064.83,"endTime":1069.8999999999999,"body":"ago, there is still they're"},{"speaker":"Alan Smith","startTime":1069.8999999999999,"endTime":1073.3799999999999,"body":"still going to a company called"},{"speaker":"Alan Smith","startTime":1069.8999999999999,"endTime":1073.3799999999999,"body":"CG CG worldwide think the names"},{"speaker":"Alan Smith","startTime":1073.3799999999999,"endTime":1076.2,"body":"who are supposed to be well,"},{"speaker":"Alan Smith","startTime":1073.3799999999999,"endTime":1076.2,"body":"they are sort of coaches to"},{"speaker":"Alan Smith","startTime":1076.4099999999999,"endTime":1078.99,"body":"apparently elite financial"},{"speaker":"Alan Smith","startTime":1076.4099999999999,"endTime":1078.99,"body":"planners around the world US"},{"speaker":"Alan Smith","startTime":1078.99,"endTime":1083.31,"body":"based company came to the UK"},{"speaker":"Alan Smith","startTime":1078.99,"endTime":1083.31,"body":"about a decade ago. And they"},{"speaker":"Alan Smith","startTime":1083.31,"endTime":1086.85,"body":"sort of unpack their entire what"},{"speaker":"Alan Smith","startTime":1083.31,"endTime":1086.85,"body":"they said this is the optimal"},{"speaker":"Alan Smith","startTime":1086.8799999999999,"endTime":1089.52,"body":"client journey. This we work"},{"speaker":"Alan Smith","startTime":1086.8799999999999,"endTime":1089.52,"body":"with, you know, multimillion"},{"speaker":"Alan Smith","startTime":1089.52,"endTime":1091.77,"body":"dollar IRAs, all that sort of"},{"speaker":"Alan Smith","startTime":1089.52,"endTime":1091.77,"body":"stuff in the US, and this is"},{"speaker":"Alan Smith","startTime":1091.77,"endTime":1095.37,"body":"what the best firms do. So I'm"},{"speaker":"Alan Smith","startTime":1091.77,"endTime":1095.37,"body":"nothing if not a sort of a"},{"speaker":"Alan Smith","startTime":1095.37,"endTime":1098.58,"body":"copycat when I hear people who"},{"speaker":"Alan Smith","startTime":1095.37,"endTime":1098.58,"body":"do good things. So we adopted"},{"speaker":"Alan Smith","startTime":1098.58,"endTime":1101.8799999999999,"body":"this. They called it at the time"},{"speaker":"Alan Smith","startTime":1098.58,"endTime":1101.8799999999999,"body":"the induction meeting, but I'd"},{"speaker":"Alan Smith","startTime":1101.8799999999999,"endTime":1104.79,"body":"rather be welcomed and inducted."},{"speaker":"Alan Smith","startTime":1101.8799999999999,"endTime":1104.79,"body":"I think so we call it the"},{"speaker":"Alan Smith","startTime":1104.79,"endTime":1108.24,"body":"welcome meeting. And we like and"},{"speaker":"Alan Smith","startTime":1104.79,"endTime":1108.24,"body":"you're absolutely right. And"},{"speaker":"Alan Smith","startTime":1108.27,"endTime":1110.85,"body":"there's so much stuff going on."},{"speaker":"Alan Smith","startTime":1108.27,"endTime":1110.85,"body":"And that can be months and"},{"speaker":"Alan Smith","startTime":1110.85,"endTime":1113.25,"body":"months. And that first point of"},{"speaker":"Alan Smith","startTime":1110.85,"endTime":1113.25,"body":"contact that we kind of lost, we"},{"speaker":"Alan Smith","startTime":1113.25,"endTime":1116.85,"body":"forgot what what are we supposed"},{"speaker":"Alan Smith","startTime":1113.25,"endTime":1116.85,"body":"to be doing. So it's like let's"},{"speaker":"Alan Smith","startTime":1116.8799999999999,"endTime":1119.9099999999999,"body":"complete the circle back in the"},{"speaker":"Alan Smith","startTime":1116.8799999999999,"endTime":1119.9099999999999,"body":"room. Remember that when you"},{"speaker":"Alan Smith","startTime":1119.9099999999999,"endTime":1122.19,"body":"first approached us right? This"},{"speaker":"Alan Smith","startTime":1119.9099999999999,"endTime":1122.19,"body":"is what which this was what"},{"speaker":"Alan Smith","startTime":1122.19,"endTime":1127.23,"body":"we're planning to do. You set"},{"speaker":"Alan Smith","startTime":1122.19,"endTime":1127.23,"body":"out we also like to share, like"},{"speaker":"Alan Smith","startTime":1127.23,"endTime":1129.21,"body":"the neck, the calendar, the next"},{"speaker":"Alan Smith","startTime":1127.23,"endTime":1129.21,"body":"12 months, the calendar for the"},{"speaker":"Alan Smith","startTime":1129.21,"endTime":1131.37,"body":"next year, what we'd like to be"},{"speaker":"Alan Smith","startTime":1129.21,"endTime":1131.37,"body":"doing for the clients so they"},{"speaker":"Alan Smith","startTime":1131.37,"endTime":1136.1399999999999,"body":"can make tangible, the kind of"},{"speaker":"Alan Smith","startTime":1131.37,"endTime":1136.1399999999999,"body":"rather intangible process and"},{"speaker":"Alan Smith","startTime":1136.44,"endTime":1139.62,"body":"proposition that we deliver and"},{"speaker":"Alan Smith","startTime":1136.44,"endTime":1139.62,"body":"where possible. And now in the"},{"speaker":"Alan Smith","startTime":1139.62,"endTime":1142.92,"body":"postcode environment, we like to"},{"speaker":"Alan Smith","startTime":1139.62,"endTime":1142.92,"body":"embrace a bit of social with it"},{"speaker":"Alan Smith","startTime":1142.92,"endTime":1145.77,"body":"as well. We like to meet people"},{"speaker":"Alan Smith","startTime":1142.92,"endTime":1145.77,"body":"face to face having done the"},{"speaker":"Alan Smith","startTime":1145.77,"endTime":1150.48,"body":"whole onboarding process,"},{"speaker":"Alan Smith","startTime":1145.77,"endTime":1150.48,"body":"digitally. If we can encourage"},{"speaker":"Alan Smith","startTime":1150.48,"endTime":1153.24,"body":"people to, to meet face to face"},{"speaker":"Alan Smith","startTime":1150.48,"endTime":1153.24,"body":"perhaps go for a bit of lunch,"},{"speaker":"Alan Smith","startTime":1154.1399999999999,"endTime":1157.02,"body":"over a sort of in a social"},{"speaker":"Alan Smith","startTime":1154.1399999999999,"endTime":1157.02,"body":"environment glass of wine, and"},{"speaker":"Alan Smith","startTime":1157.02,"endTime":1160.26,"body":"we can use this as an"},{"speaker":"Alan Smith","startTime":1157.02,"endTime":1160.26,"body":"opportunity to get real life"},{"speaker":"Alan Smith","startTime":1160.47,"endTime":1166.71,"body":"immediate feedback from those"},{"speaker":"Alan Smith","startTime":1160.47,"endTime":1166.71,"body":"newly onboard clients. You know,"},{"speaker":"Alan Smith","startTime":1166.77,"endTime":1169.2,"body":"I guess what we're looking at"},{"speaker":"Alan Smith","startTime":1166.77,"endTime":1169.2,"body":"the positive opportunity to seek"},{"speaker":"Alan Smith","startTime":1169.2,"endTime":1171.93,"body":"testimonials, referrals,"},{"speaker":"Alan Smith","startTime":1169.2,"endTime":1171.93,"body":"introductions, anything that"},{"speaker":"Alan Smith","startTime":1171.93,"endTime":1173.7,"body":"that might come to them in a"},{"speaker":"Alan Smith","startTime":1171.93,"endTime":1173.7,"body":"natural kind of social"},{"speaker":"Alan Smith","startTime":1173.7,"endTime":1176.76,"body":"environment. Because the client"},{"speaker":"Alan Smith","startTime":1173.7,"endTime":1176.76,"body":"at that point should be kind of"},{"speaker":"Alan Smith","startTime":1176.79,"endTime":1180.03,"body":"at the is the tends to be an"},{"speaker":"Alan Smith","startTime":1176.79,"endTime":1180.03,"body":"emotional roller coaster during"},{"speaker":"Alan Smith","startTime":1180.03,"endTime":1182.79,"body":"the process for the first engage"},{"speaker":"Alan Smith","startTime":1180.03,"endTime":1182.79,"body":"and you identify you can really"},{"speaker":"Alan Smith","startTime":1182.79,"endTime":1186.6,"body":"help them as a positive. There"},{"speaker":"Alan Smith","startTime":1182.79,"endTime":1186.6,"body":"can be a month or two or more"},{"speaker":"Alan Smith","startTime":1186.6,"endTime":1190.32,"body":"sometimes of just not much going"},{"speaker":"Alan Smith","startTime":1186.6,"endTime":1190.32,"body":"on. We're in the background of"},{"speaker":"Alan Smith","startTime":1190.4099999999999,"endTime":1193.56,"body":"busy you know, trying to get"},{"speaker":"Alan Smith","startTime":1190.4099999999999,"endTime":1193.56,"body":"data get information from legacy"},{"speaker":"Alan Smith","startTime":1193.56,"endTime":1197.58,"body":"companies and so on. So it can"},{"speaker":"Alan Smith","startTime":1193.56,"endTime":1197.58,"body":"hit a bit of a lull and then"},{"speaker":"Alan Smith","startTime":1197.58,"endTime":1200.1599999999999,"body":"hopefully towards the end whilst"},{"speaker":"Alan Smith","startTime":1197.58,"endTime":1200.1599999999999,"body":"the coming on board welcome"},{"speaker":"Alan Smith","startTime":1200.1599999999999,"endTime":1203.52,"body":"meeting glass of wine but at"},{"speaker":"Alan Smith","startTime":1200.1599999999999,"endTime":1203.52,"body":"lunch. They were in a positive"},{"speaker":"Alan Smith","startTime":1203.52,"endTime":1206.52,"body":"space, your frame of mind so we"},{"speaker":"Alan Smith","startTime":1203.52,"endTime":1206.52,"body":"have an opportunity just sort of"},{"speaker":"Alan Smith","startTime":1206.52,"endTime":1210.69,"body":"dig a bit deeper and yet deepen"},{"speaker":"Alan Smith","startTime":1206.52,"endTime":1210.69,"body":"the relationship. So it works."},{"speaker":"Alan Smith","startTime":1210.69,"endTime":1214.92,"body":"Yeah, it works really well."},{"speaker":"Alan Smith","startTime":1210.69,"endTime":1214.92,"body":"Clients seem to enjoy it. And"},{"speaker":"Alan Smith","startTime":1214.92,"endTime":1215.7,"body":"we'll continue doing it."},{"speaker":"Carl Widger","startTime":1216.84,"endTime":1224.6399999999999,"body":"Yeah, I was going"},{"speaker":"Carl Widger","startTime":1216.84,"endTime":1224.6399999999999,"body":"oh, yeah, no, I we don't do the"},{"speaker":"Carl Widger","startTime":1224.6399999999999,"endTime":1229.56,"body":"work that we should be doing on"},{"speaker":"Carl Widger","startTime":1224.6399999999999,"endTime":1229.56,"body":"this. And I know and a huge talk"},{"speaker":"Carl Widger","startTime":1229.56,"endTime":1232.83,"body":"to me recently about the local"},{"speaker":"Carl Widger","startTime":1229.56,"endTime":1232.83,"body":"meeting and my seven, Alan are"},{"speaker":"Carl Widger","startTime":1232.83,"endTime":1236.61,"body":"always talking about it. We have"},{"speaker":"Carl Widger","startTime":1232.83,"endTime":1236.61,"body":"it as a project for q1 of next"},{"speaker":"Carl Widger","startTime":1236.61,"endTime":1240.51,"body":"year. And I totally get the"},{"speaker":"Carl Widger","startTime":1236.61,"endTime":1240.51,"body":"points that we've actually got"},{"speaker":"Carl Widger","startTime":1240.51,"endTime":1245.73,"body":"some negative feedback from a"},{"speaker":"Carl Widger","startTime":1240.51,"endTime":1245.73,"body":"relatively new client, that we"},{"speaker":"Carl Widger","startTime":1245.73,"endTime":1248.37,"body":"did all the all the great work,"},{"speaker":"Carl Widger","startTime":1245.73,"endTime":1248.37,"body":"all the financial planning"},{"speaker":"Carl Widger","startTime":1248.37,"endTime":1251.1599999999999,"body":"stuff, we got all the wild"},{"speaker":"Carl Widger","startTime":1248.37,"endTime":1251.1599999999999,"body":"moments, we did the video after"},{"speaker":"Carl Widger","startTime":1251.1599999999999,"endTime":1254.1299999999999,"body":"it, told him what we were going"},{"speaker":"Carl Widger","startTime":1251.1599999999999,"endTime":1254.1299999999999,"body":"to do. And then like you're"},{"speaker":"Carl Widger","startTime":1254.1299999999999,"endTime":1256.98,"body":"saying, we went off to try and"},{"speaker":"Carl Widger","startTime":1254.1299999999999,"endTime":1256.98,"body":"gather all the assets and put it"},{"speaker":"Carl Widger","startTime":1256.98,"endTime":1259.5,"body":"into one pot and blah, blah,"},{"speaker":"Carl Widger","startTime":1256.98,"endTime":1259.5,"body":"blah, and it took months and"},{"speaker":"Carl Widger","startTime":1259.5,"endTime":1261.8999999999999,"body":"months and months, and the"},{"speaker":"Carl Widger","startTime":1259.5,"endTime":1261.8999999999999,"body":"client didn't hear from us. Even"},{"speaker":"Carl Widger","startTime":1261.8999999999999,"endTime":1264.12,"body":"though we were doing loads and"},{"speaker":"Carl Widger","startTime":1261.8999999999999,"endTime":1264.12,"body":"loads of work in the background,"},{"speaker":"Carl Widger","startTime":1264.1499999999999,"endTime":1268.59,"body":"you know, so we had to take that"},{"speaker":"Carl Widger","startTime":1264.1499999999999,"endTime":1268.59,"body":"on the chin. So we've kind of"},{"speaker":"Carl Widger","startTime":1268.59,"endTime":1272.31,"body":"broken our business into each"},{"speaker":"Carl Widger","startTime":1268.59,"endTime":1272.31,"body":"client will have a part of"},{"speaker":"Carl Widger","startTime":1272.31,"endTime":1275.04,"body":"three. So they'll have their"},{"speaker":"Carl Widger","startTime":1272.31,"endTime":1275.04,"body":"private client manager, which"},{"speaker":"Carl Widger","startTime":1275.1,"endTime":1279.3,"body":"you guys know as your advisor,"},{"speaker":"Carl Widger","startTime":1275.1,"endTime":1279.3,"body":"your your financial planner, you"},{"speaker":"Carl Widger","startTime":1279.3,"endTime":1281.82,"body":"guys know as paraplanner. And"},{"speaker":"Carl Widger","startTime":1279.3,"endTime":1281.82,"body":"then we have a client service"},{"speaker":"Carl Widger","startTime":1281.82,"endTime":1285.6,"body":"exec, who's kind of doing a lot"},{"speaker":"Carl Widger","startTime":1281.82,"endTime":1285.6,"body":"of the really important kind of"},{"speaker":"Carl Widger","startTime":1285.72,"endTime":1289.83,"body":"making sure everything is pulled"},{"speaker":"Carl Widger","startTime":1285.72,"endTime":1289.83,"body":"together, etc. So we are doing,"},{"speaker":"Carl Widger","startTime":1289.86,"endTime":1294.0,"body":"we're doing a client engagements"},{"speaker":"Carl Widger","startTime":1289.86,"endTime":1294.0,"body":"kind of exercise at the moment,"},{"speaker":"Carl Widger","startTime":1294.3899999999999,"endTime":1299.19,"body":"with a view to try to get"},{"speaker":"Carl Widger","startTime":1294.3899999999999,"endTime":1299.19,"body":"everyone just talk to everyone"},{"speaker":"Carl Widger","startTime":1299.19,"endTime":1302.58,"body":"before the end of the year, but"},{"speaker":"Carl Widger","startTime":1299.19,"endTime":1302.58,"body":"a proper project for next year."},{"speaker":"Carl Widger","startTime":1302.58,"endTime":1305.07,"body":"So really, what I'm going to try"},{"speaker":"Carl Widger","startTime":1302.58,"endTime":1305.07,"body":"and do is meet Ireland before"},{"speaker":"Carl Widger","startTime":1305.1,"endTime":1307.59,"body":"the start of next year and just"},{"speaker":"Carl Widger","startTime":1305.1,"endTime":1307.59,"body":"get all of Ireland's ideas, and"},{"speaker":"Carl Widger","startTime":1307.59,"endTime":1311.7,"body":"then we'll implement as usual,"},{"speaker":"Carl Widger","startTime":1307.59,"endTime":1311.7,"body":"because because Alan said, he's"},{"speaker":"Carl Widger","startTime":1311.7,"endTime":1315.0,"body":"good. He's good at copying,"},{"speaker":"Carl Widger","startTime":1311.7,"endTime":1315.0,"body":"right? I'm the best, the"},{"speaker":"Carl Widger","startTime":1315.0,"endTime":1319.6499999999999,"body":"absolute best in the business."},{"speaker":"Carl Widger","startTime":1315.0,"endTime":1319.6499999999999,"body":"And, you know, we we go and get"},{"speaker":"Carl Widger","startTime":1319.6499999999999,"endTime":1322.53,"body":"these great ideas and like, like"},{"speaker":"Carl Widger","startTime":1319.6499999999999,"endTime":1322.53,"body":"Alan says on a on a serious"},{"speaker":"Carl Widger","startTime":1322.53,"endTime":1325.8,"body":"note, like if you can find"},{"speaker":"Carl Widger","startTime":1322.53,"endTime":1325.8,"body":"somebody who's doing great work"},{"speaker":"Carl Widger","startTime":1325.8,"endTime":1329.49,"body":"in a particular space, we're not"},{"speaker":"Carl Widger","startTime":1325.8,"endTime":1329.49,"body":"we're not inventing stuff here."},{"speaker":"Carl Widger","startTime":1330.18,"endTime":1333.33,"body":"Right? Great financial planning"},{"speaker":"Carl Widger","startTime":1330.18,"endTime":1333.33,"body":"has been around for a while. And"},{"speaker":"Carl Widger","startTime":1333.33,"endTime":1336.48,"body":"there's lots of people doing it"},{"speaker":"Carl Widger","startTime":1333.33,"endTime":1336.48,"body":"really well. And if you can find"},{"speaker":"Carl Widger","startTime":1336.48,"endTime":1341.04,"body":"bits and pieces from various"},{"speaker":"Carl Widger","startTime":1336.48,"endTime":1341.04,"body":"people, and then implemented in"},{"speaker":"Carl Widger","startTime":1341.04,"endTime":1343.59,"body":"your business, then it's"},{"speaker":"Carl Widger","startTime":1341.04,"endTime":1343.59,"body":"fantastic. I remember Alan gave"},{"speaker":"Carl Widger","startTime":1343.59,"endTime":1346.74,"body":"me an idea. And I hope you don't"},{"speaker":"Carl Widger","startTime":1343.59,"endTime":1346.74,"body":"mind me telling this story, Alan"},{"speaker":"Carl Widger","startTime":1346.74,"endTime":1350.43,"body":"said, and I sent out this book,"},{"speaker":"Carl Widger","startTime":1346.74,"endTime":1350.43,"body":"and it was really, really great."},{"speaker":"Carl Widger","startTime":1350.46,"endTime":1353.04,"body":"And then about three months"},{"speaker":"Carl Widger","startTime":1350.46,"endTime":1353.04,"body":"later, I told Alan, the story of"},{"speaker":"Carl Widger","startTime":1353.04,"endTime":1356.55,"body":"me sending this book to somebody"},{"speaker":"Carl Widger","startTime":1353.04,"endTime":1356.55,"body":"and adamant. That's a fantastic"},{"speaker":"Carl Widger","startTime":1356.55,"endTime":1356.9099999999999,"body":"idea."},{"speaker":"Nick Lincoln","startTime":1360.21,"endTime":1363.12,"body":"was like, what?"},{"speaker":"Nick Lincoln","startTime":1360.21,"endTime":1363.12,"body":"signs of dementia?"},{"speaker":"Carl Widger","startTime":1366.87,"endTime":1369.87,"body":"But yeah, but look,"},{"speaker":"Carl Widger","startTime":1366.87,"endTime":1369.87,"body":"I you know, I think it's really"},{"speaker":"Carl Widger","startTime":1369.87,"endTime":1372.6,"body":"important. If you're if you're"},{"speaker":"Carl Widger","startTime":1369.87,"endTime":1372.6,"body":"serious about this business, you"},{"speaker":"Carl Widger","startTime":1372.6,"endTime":1375.3899999999999,"body":"know, you can get in touch with"},{"speaker":"Carl Widger","startTime":1372.6,"endTime":1375.3899999999999,"body":"all of these people via their"},{"speaker":"Carl Widger","startTime":1375.3899999999999,"endTime":1379.2,"body":"websites, via podcasts via"},{"speaker":"Carl Widger","startTime":1375.3899999999999,"endTime":1379.2,"body":"newsletters or whatever. And you"},{"speaker":"Carl Widger","startTime":1379.2,"endTime":1384.57,"body":"can extrapolate all these"},{"speaker":"Carl Widger","startTime":1379.2,"endTime":1384.57,"body":"fantastic ideas. It takes time,"},{"speaker":"Carl Widger","startTime":1384.69,"endTime":1388.59,"body":"it takes a lot of effort. And it"},{"speaker":"Carl Widger","startTime":1384.69,"endTime":1388.59,"body":"takes it to do news consistently"},{"speaker":"Carl Widger","startTime":1388.59,"endTime":1391.74,"body":"over a long period of time to"},{"speaker":"Carl Widger","startTime":1388.59,"endTime":1391.74,"body":"make them work for your"},{"speaker":"Carl Widger","startTime":1391.74,"endTime":1393.8999999999999,"body":"business. But but the ideas are"},{"speaker":"Carl Widger","startTime":1391.74,"endTime":1393.8999999999999,"body":"there. You don't"},{"speaker":"Alan Smith","startTime":1393.96,"endTime":1396.33,"body":"that's a slightly"},{"speaker":"Alan Smith","startTime":1393.96,"endTime":1396.33,"body":"different, we could come back to"},{"speaker":"Alan Smith","startTime":1396.33,"endTime":1400.95,"body":"this at a later date. The idea"},{"speaker":"Alan Smith","startTime":1396.33,"endTime":1400.95,"body":"of copycatting looking at what"},{"speaker":"Alan Smith","startTime":1400.95,"endTime":1404.25,"body":"else is out there in the"},{"speaker":"Alan Smith","startTime":1400.95,"endTime":1404.25,"body":"marketplace, because cloning CLI"},{"speaker":"Alan Smith","startTime":1404.25,"endTime":1407.61,"body":"suspect called that you don't"},{"speaker":"Alan Smith","startTime":1404.25,"endTime":1407.61,"body":"copy I mean, you and I've had"},{"speaker":"Alan Smith","startTime":1407.61,"endTime":1410.28,"body":"plenty of conversations over the"},{"speaker":"Alan Smith","startTime":1407.61,"endTime":1410.28,"body":"years, you don't copy exactly"},{"speaker":"Alan Smith","startTime":1410.28,"endTime":1413.73,"body":"things we do because they don't"},{"speaker":"Alan Smith","startTime":1410.28,"endTime":1413.73,"body":"they don't work necessarily on"},{"speaker":"Alan Smith","startTime":1413.73,"endTime":1417.0,"body":"an exact copy basis, my firm's"},{"speaker":"Alan Smith","startTime":1413.73,"endTime":1417.0,"body":"different to your firm different"},{"speaker":"Alan Smith","startTime":1417.0,"endTime":1420.6299999999999,"body":"values of genetics and so on."},{"speaker":"Alan Smith","startTime":1417.0,"endTime":1420.6299999999999,"body":"But if you can take 10 ideas,"},{"speaker":"Alan Smith","startTime":1420.75,"endTime":1423.81,"body":"distill it all down, and then"},{"speaker":"Alan Smith","startTime":1420.75,"endTime":1423.81,"body":"you know, overlay your unique,"},{"speaker":"Alan Smith","startTime":1424.1399999999999,"endTime":1426.45,"body":"you know, culture processes and"},{"speaker":"Alan Smith","startTime":1424.1399999999999,"endTime":1426.45,"body":"things, then you've then you've"},{"speaker":"Alan Smith","startTime":1426.45,"endTime":1428.73,"body":"created actually something new,"},{"speaker":"Alan Smith","startTime":1426.45,"endTime":1428.73,"body":"which is the blend of Yeah, and"},{"speaker":"Alan Smith","startTime":1428.73,"endTime":1432.03,"body":"other things. That's that's what"},{"speaker":"Alan Smith","startTime":1428.73,"endTime":1432.03,"body":"we've we've all been doing."},{"speaker":"Alan Smith","startTime":1432.24,"endTime":1435.0,"body":"Really there is very few very"},{"speaker":"Alan Smith","startTime":1432.24,"endTime":1435.0,"body":"few unique ideas."},{"speaker":"Andy Hart","startTime":1435.539,"endTime":1437.1889999999999,"body":"At the welcome"},{"speaker":"Andy Hart","startTime":1435.539,"endTime":1437.1889999999999,"body":"meeting. I also tell them when"},{"speaker":"Andy Hart","startTime":1437.1889999999999,"endTime":1439.229,"body":"we're going to be meetings, I"},{"speaker":"Andy Hart","startTime":1437.1889999999999,"endTime":1439.229,"body":"have my own and my annual"},{"speaker":"Andy Hart","startTime":1439.229,"endTime":1442.319,"body":"planning meetings now between"},{"speaker":"Andy Hart","startTime":1439.229,"endTime":1442.319,"body":"January and March. So whenever I"},{"speaker":"Andy Hart","startTime":1442.319,"endTime":1445.4389999999999,"body":"take them on our slot them into"},{"speaker":"Andy Hart","startTime":1442.319,"endTime":1445.4389999999999,"body":"that schedule, I tell them,"},{"speaker":"Andy Hart","startTime":1445.4389999999999,"endTime":1448.319,"body":"there's one point of contact and"},{"speaker":"Andy Hart","startTime":1445.4389999999999,"endTime":1448.319,"body":"the job come to me or then work"},{"speaker":"Andy Hart","startTime":1448.319,"endTime":1450.389,"body":"out who's going to do it, which"},{"speaker":"Andy Hart","startTime":1448.319,"endTime":1450.389,"body":"is obviously different to what"},{"speaker":"Andy Hart","startTime":1450.479,"endTime":1455.039,"body":"Carl said. I asked them, what do"},{"speaker":"Andy Hart","startTime":1450.479,"endTime":1455.039,"body":"they expect of me, which is very"},{"speaker":"Andy Hart","startTime":1455.039,"endTime":1459.119,"body":"interesting question that goes"},{"speaker":"Andy Hart","startTime":1455.039,"endTime":1459.119,"body":"off on a complete tangent. I"},{"speaker":"Andy Hart","startTime":1459.119,"endTime":1463.889,"body":"also tell them what I expected"},{"speaker":"Andy Hart","startTime":1459.119,"endTime":1463.889,"body":"for them. I go through the 2575"},{"speaker":"Andy Hart","startTime":1463.889,"endTime":1468.059,"body":"minus 14% rule, which is"},{"speaker":"Andy Hart","startTime":1463.889,"endTime":1468.059,"body":"basically the markets going up"},{"speaker":"Andy Hart","startTime":1468.059,"endTime":1471.719,"body":"75% of the time down 25% at the"},{"speaker":"Andy Hart","startTime":1468.059,"endTime":1471.719,"body":"time and every year or generally"},{"speaker":"Andy Hart","startTime":1471.719,"endTime":1474.479,"body":"declined from high points or low"},{"speaker":"Andy Hart","startTime":1471.719,"endTime":1474.479,"body":"point to minus 14. I'm just"},{"speaker":"Andy Hart","startTime":1474.479,"endTime":1478.349,"body":"teeing them up because the worst"},{"speaker":"Andy Hart","startTime":1474.479,"endTime":1478.349,"body":"thing is, in the early stages of"},{"speaker":"Andy Hart","startTime":1478.349,"endTime":1481.889,"body":"taking on clients, looking after"},{"speaker":"Andy Hart","startTime":1478.349,"endTime":1481.889,"body":"100 grand a million quid"},{"speaker":"Andy Hart","startTime":1481.889,"endTime":1485.1889999999999,"body":"whatever that number isn't."},{"speaker":"Andy Hart","startTime":1481.889,"endTime":1485.1889999999999,"body":"Immediately there's a there's a"},{"speaker":"Andy Hart","startTime":1485.1889999999999,"endTime":1488.219,"body":"minus 13% in the markets, which"},{"speaker":"Andy Hart","startTime":1485.1889999999999,"endTime":1488.219,"body":"is very, you know, likely to"},{"speaker":"Andy Hart","startTime":1488.219,"endTime":1491.549,"body":"happen. I talked about how their"},{"speaker":"Andy Hart","startTime":1488.219,"endTime":1491.549,"body":"investment platform works, how"},{"speaker":"Andy Hart","startTime":1491.549,"endTime":1493.979,"body":"the online access works. I"},{"speaker":"Andy Hart","startTime":1491.549,"endTime":1493.979,"body":"actually got a whole section"},{"speaker":"Andy Hart","startTime":1493.979,"endTime":1497.789,"body":"about our first month as our"},{"speaker":"Andy Hart","startTime":1493.979,"endTime":1497.789,"body":"first 12 months. I then talk"},{"speaker":"Andy Hart","startTime":1497.789,"endTime":1500.6689999999999,"body":"about communication. All of my"},{"speaker":"Andy Hart","startTime":1497.789,"endTime":1500.6689999999999,"body":"clients have got my direct"},{"speaker":"Andy Hart","startTime":1500.699,"endTime":1503.759,"body":"mobile number, the bat number"},{"speaker":"Andy Hart","startTime":1500.699,"endTime":1503.759,"body":"all of my clients talk to me on"},{"speaker":"Andy Hart","startTime":1503.759,"endTime":1508.529,"body":"WhatsApp, couples have WhatsApp"},{"speaker":"Andy Hart","startTime":1503.759,"endTime":1508.529,"body":"groups, but anything important"},{"speaker":"Andy Hart","startTime":1508.529,"endTime":1511.199,"body":"goes via email. You know, like"},{"speaker":"Andy Hart","startTime":1508.529,"endTime":1511.199,"body":"an important"},{"speaker":"Carl Widger","startTime":1511.5,"endTime":1514.83,"body":"there is a there's"},{"speaker":"Carl Widger","startTime":1511.5,"endTime":1514.83,"body":"a there's a magnificent idea."},{"speaker":"Carl Widger","startTime":1515.1599999999999,"endTime":1518.6399999999999,"body":"Never thought of it that so"},{"speaker":"Carl Widger","startTime":1515.1599999999999,"endTime":1518.6399999999999,"body":"couples have a WhatsApp group so"},{"speaker":"Carl Widger","startTime":1518.67,"endTime":1519.96,"body":"they get one message so"},{"speaker":"Andy Hart","startTime":1520.4099999999999,"endTime":1523.3799999999999,"body":"so it will be the"},{"speaker":"Andy Hart","startTime":1520.4099999999999,"endTime":1523.3799999999999,"body":"surname in WhatsApp it will be"},{"speaker":"Andy Hart","startTime":1523.3799999999999,"endTime":1528.18,"body":"honest Smith, hyphen and the"},{"speaker":"Andy Hart","startTime":1523.3799999999999,"endTime":1528.18,"body":"heart or whatever. And then we"},{"speaker":"Andy Hart","startTime":1528.21,"endTime":1533.52,"body":"communicate via via that But"},{"speaker":"Andy Hart","startTime":1528.21,"endTime":1533.52,"body":"anything important via email, I"},{"speaker":"Andy Hart","startTime":1533.52,"endTime":1535.71,"body":"tell them that I look off the"},{"speaker":"Andy Hart","startTime":1533.52,"endTime":1535.71,"body":"family. So if their kids need"},{"speaker":"Andy Hart","startTime":1535.71,"endTime":1538.23,"body":"any help with anything, I'm on"},{"speaker":"Andy Hart","startTime":1535.71,"endTime":1538.23,"body":"hand and a lot of new clients"},{"speaker":"Andy Hart","startTime":1538.23,"endTime":1541.08,"body":"have taken me up on that. It's"},{"speaker":"Andy Hart","startTime":1538.23,"endTime":1541.08,"body":"normally like random questions"},{"speaker":"Andy Hart","startTime":1541.08,"endTime":1544.77,"body":"about mortgages or pensions or"},{"speaker":"Andy Hart","startTime":1541.08,"endTime":1544.77,"body":"something like that. And then"},{"speaker":"Andy Hart","startTime":1544.77,"endTime":1546.8999999999999,"body":"yeah, how to how to book"},{"speaker":"Andy Hart","startTime":1544.77,"endTime":1546.8999999999999,"body":"meetings and stuff. So yeah,"},{"speaker":"Andy Hart","startTime":1546.8999999999999,"endTime":1549.51,"body":"that's generally how it works."},{"speaker":"Nick Lincoln","startTime":1549.6599999999999,"endTime":1553.8899999999999,"body":"So as to the"},{"speaker":"Nick Lincoln","startTime":1549.6599999999999,"endTime":1553.8899999999999,"body":"client on board. Andy, are you"},{"speaker":"Nick Lincoln","startTime":1553.8899999999999,"endTime":1556.59,"body":"now saying that three months"},{"speaker":"Nick Lincoln","startTime":1553.8899999999999,"endTime":1556.59,"body":"later, you will then have a"},{"speaker":"Nick Lincoln","startTime":1556.59,"endTime":1558.45,"body":"follow up with them? Have you"},{"speaker":"Nick Lincoln","startTime":1556.59,"endTime":1558.45,"body":"actually got it scheduled that"},{"speaker":"Nick Lincoln","startTime":1558.48,"endTime":1559.6499999999999,"body":"you'll speak to them?"},{"speaker":"Andy Hart","startTime":1560.67,"endTime":1562.71,"body":"Now, once all the"},{"speaker":"Andy Hart","startTime":1560.67,"endTime":1562.71,"body":"initial works done is in the"},{"speaker":"Andy Hart","startTime":1562.71,"endTime":1564.84,"body":"faffing around with the"},{"speaker":"Andy Hart","startTime":1562.71,"endTime":1564.84,"body":"investment platforms, which your"},{"speaker":"Andy Hart","startTime":1564.84,"endTime":1567.96,"body":"money setting up direct debits"},{"speaker":"Andy Hart","startTime":1564.84,"endTime":1567.96,"body":"invest in the portfolio, I might"},{"speaker":"Andy Hart","startTime":1567.96,"endTime":1570.18,"body":"write Let's have a meeting. Now"},{"speaker":"Andy Hart","startTime":1567.96,"endTime":1570.18,"body":"to kind of recap everything. I"},{"speaker":"Andy Hart","startTime":1570.18,"endTime":1572.3999999999999,"body":"call it a welcome meeting here,"},{"speaker":"Andy Hart","startTime":1570.18,"endTime":1572.3999999999999,"body":"we book it, and then we go"},{"speaker":"Andy Hart","startTime":1572.3999999999999,"endTime":1579.69,"body":"through everything I've just"},{"speaker":"Andy Hart","startTime":1572.3999999999999,"endTime":1579.69,"body":"said. Yeah. It's sort of the"},{"speaker":"Andy Hart","startTime":1579.69,"endTime":1582.51,"body":"exciting stuff at first, and"},{"speaker":"Andy Hart","startTime":1579.69,"endTime":1582.51,"body":"yeah, I can work with you and"},{"speaker":"Andy Hart","startTime":1582.51,"endTime":1584.49,"body":"build the plan, everything's"},{"speaker":"Andy Hart","startTime":1582.51,"endTime":1584.49,"body":"fine. And then it's just like"},{"speaker":"Andy Hart","startTime":1584.49,"endTime":1587.34,"body":"this just sludge in the middle."},{"speaker":"Andy Hart","startTime":1584.49,"endTime":1587.34,"body":"And then I'm sort of bringing it"},{"speaker":"Andy Hart","startTime":1587.34,"endTime":1590.82,"body":"back to a bit more of the"},{"speaker":"Andy Hart","startTime":1587.34,"endTime":1590.82,"body":"exciting personal type stuff. I"},{"speaker":"Andy Hart","startTime":1590.82,"endTime":1592.62,"body":"don't know. It's like an hour"},{"speaker":"Andy Hart","startTime":1590.82,"endTime":1592.62,"body":"long. It's nothing, nothing,"},{"speaker":"Andy Hart","startTime":1592.68,"endTime":1593.34,"body":"nothing too long."},{"speaker":"Carl Widger","startTime":1594.24,"endTime":1596.82,"body":"I love the idea of"},{"speaker":"Carl Widger","startTime":1594.24,"endTime":1596.82,"body":"doing your review meetings"},{"speaker":"Carl Widger","startTime":1596.82,"endTime":1599.82,"body":"between January and March. I"},{"speaker":"Carl Widger","startTime":1596.82,"endTime":1599.82,"body":"think it really sets your your"},{"speaker":"Carl Widger","startTime":1599.82,"endTime":1601.98,"body":"up as much as it sets the tone"},{"speaker":"Carl Widger","startTime":1599.82,"endTime":1601.98,"body":"to Europe."},{"speaker":"Andy Hart","startTime":1602.49,"endTime":1608.37,"body":"Yeah. I also say, you"},{"speaker":"Andy Hart","startTime":1602.49,"endTime":1608.37,"body":"know, you, as an ongoing client"},{"speaker":"Andy Hart","startTime":1608.37,"endTime":1611.58,"body":"of mine, you have access to"},{"speaker":"Andy Hart","startTime":1608.37,"endTime":1611.58,"body":"unlimited meetings, unlimited"},{"speaker":"Andy Hart","startTime":1611.58,"endTime":1614.1299999999999,"body":"emails, unlimited phone calls,"},{"speaker":"Andy Hart","startTime":1611.58,"endTime":1614.1299999999999,"body":"they obviously don't take"},{"speaker":"Andy Hart","startTime":1614.1299999999999,"endTime":1618.24,"body":"anywhere near that. But that's"},{"speaker":"Andy Hart","startTime":1614.1299999999999,"endTime":1618.24,"body":"basically what the offer is. And"},{"speaker":"Andy Hart","startTime":1618.24,"endTime":1620.61,"body":"then I say, obviously, if you if"},{"speaker":"Andy Hart","startTime":1618.24,"endTime":1620.61,"body":"you've had a very quiet year,"},{"speaker":"Andy Hart","startTime":1620.61,"endTime":1622.62,"body":"and you don't hear from us, and"},{"speaker":"Andy Hart","startTime":1620.61,"endTime":1622.62,"body":"obviously we're gonna sit down"},{"speaker":"Andy Hart","startTime":1622.62,"endTime":1626.7,"body":"and have your annual planning"},{"speaker":"Andy Hart","startTime":1622.62,"endTime":1626.7,"body":"meeting. Yeah, just to set the"},{"speaker":"Andy Hart","startTime":1626.7,"endTime":1627.18,"body":"scene really?"},{"speaker":"Carl Widger","startTime":1629.07,"endTime":1630.36,"body":"Oh, no divorce"},{"speaker":"Carl Widger","startTime":1629.07,"endTime":1630.36,"body":"lawyers."},{"speaker":"Alan Smith","startTime":1633.24,"endTime":1636.24,"body":"Yeah, interesting."},{"speaker":"Alan Smith","startTime":1633.24,"endTime":1636.24,"body":"Has an assumption. Just on that,"},{"speaker":"Alan Smith","startTime":1636.24,"endTime":1640.56,"body":"can I ask you that would worry"},{"speaker":"Alan Smith","startTime":1636.24,"endTime":1640.56,"body":"me senseless, having WhatsApp"},{"speaker":"Alan Smith","startTime":1640.56,"endTime":1643.71,"body":"groups for each individual"},{"speaker":"Alan Smith","startTime":1640.56,"endTime":1643.71,"body":"client? There's"},{"speaker":"Andy Hart","startTime":1643.8,"endTime":1645.36,"body":"just not a WhatsApp"},{"speaker":"Andy Hart","startTime":1643.8,"endTime":1645.36,"body":"group. So every one of my"},{"speaker":"Andy Hart","startTime":1645.36,"endTime":1647.85,"body":"clients has got my number. And"},{"speaker":"Andy Hart","startTime":1645.36,"endTime":1647.85,"body":"every single one of my clients"},{"speaker":"Andy Hart","startTime":1647.85,"endTime":1651.03,"body":"WhatsApp, me, I want to take on"},{"speaker":"Andy Hart","startTime":1647.85,"endTime":1651.03,"body":"new clients, and it's a couple"},{"speaker":"Andy Hart","startTime":1651.03,"endTime":1654.09,"body":"and they're very much both"},{"speaker":"Andy Hart","startTime":1651.03,"endTime":1654.09,"body":"engaged, then I'll just set up a"},{"speaker":"Andy Hart","startTime":1654.09,"endTime":1655.83,"body":"group. It's just it's a lot"},{"speaker":"Andy Hart","startTime":1654.09,"endTime":1655.83,"body":"easier."},{"speaker":"Alan Smith","startTime":1657.0,"endTime":1659.28,"body":"Yeah, no issues"},{"speaker":"Alan Smith","startTime":1657.0,"endTime":1659.28,"body":"about regulation or anything,"},{"speaker":"Alan Smith","startTime":1659.28,"endTime":1662.73,"body":"you know, communicating"},{"speaker":"Alan Smith","startTime":1659.28,"endTime":1662.73,"body":"messages. I just, we just"},{"speaker":"Alan Smith","startTime":1662.73,"endTime":1663.99,"body":"wouldn't do that. We use"},{"speaker":"Andy Hart","startTime":1664.98,"endTime":1668.01,"body":"things seriously. If"},{"speaker":"Andy Hart","startTime":1664.98,"endTime":1668.01,"body":"they send me an email Sandy, can"},{"speaker":"Andy Hart","startTime":1668.01,"endTime":1670.5,"body":"I have 10 grand for my eyesight?"},{"speaker":"Andy Hart","startTime":1668.01,"endTime":1670.5,"body":"So just send me an email,"},{"speaker":"Andy Hart","startTime":1670.5,"endTime":1673.35,"body":"please. That's like a different"},{"speaker":"Andy Hart","startTime":1670.5,"endTime":1673.35,"body":"type of communication. So"},{"speaker":"Andy Hart","startTime":1673.35,"endTime":1678.1499999999999,"body":"anything that requires a trace?"},{"speaker":"Andy Hart","startTime":1673.35,"endTime":1678.1499999999999,"body":"Or a sort of, whatever, it's"},{"speaker":"Andy Hart","startTime":1678.1499999999999,"endTime":1680.1599999999999,"body":"email, everything else is on"},{"speaker":"Andy Hart","startTime":1678.1499999999999,"endTime":1680.1599999999999,"body":"WhatsApp?"},{"speaker":"Nick Lincoln","startTime":1681.24,"endTime":1682.92,"body":"Yeah, I've got"},{"speaker":"Nick Lincoln","startTime":1681.24,"endTime":1682.92,"body":"I've got quite a few clients,"},{"speaker":"Nick Lincoln","startTime":1682.92,"endTime":1685.8899999999999,"body":"which do WhatsApp me and I"},{"speaker":"Nick Lincoln","startTime":1682.92,"endTime":1685.8899999999999,"body":"don't, you know, it's just, but"},{"speaker":"Nick Lincoln","startTime":1685.8899999999999,"endTime":1690.06,"body":"as Andy said, if it's anything,"},{"speaker":"Nick Lincoln","startTime":1685.8899999999999,"endTime":1690.06,"body":"even slightly advice driven or"},{"speaker":"Nick Lincoln","startTime":1690.06,"endTime":1693.96,"body":"regulatory bound, then I say,"},{"speaker":"Nick Lincoln","startTime":1690.06,"endTime":1693.96,"body":"No, I need that an email please,"},{"speaker":"Nick Lincoln","startTime":1693.96,"endTime":1698.55,"body":"for my audit. And, and yeah, if"},{"speaker":"Nick Lincoln","startTime":1693.96,"endTime":1698.55,"body":"people just go out and people"},{"speaker":"Nick Lincoln","startTime":1698.55,"endTime":1700.47,"body":"just use WhatsApp, and there"},{"speaker":"Nick Lincoln","startTime":1698.55,"endTime":1700.47,"body":"might be you know, I don't want"},{"speaker":"Nick Lincoln","startTime":1700.47,"endTime":1703.02,"body":"to get messages on a Saturday"},{"speaker":"Nick Lincoln","startTime":1700.47,"endTime":1703.02,"body":"morning from clients. Because"},{"speaker":"Nick Lincoln","startTime":1703.83,"endTime":1706.35,"body":"even if I say to myself, I will"},{"speaker":"Nick Lincoln","startTime":1703.83,"endTime":1706.35,"body":"not respond for two days, it"},{"speaker":"Nick Lincoln","startTime":1706.35,"endTime":1708.36,"body":"might still be in my head, you"},{"speaker":"Nick Lincoln","startTime":1706.35,"endTime":1708.36,"body":"know, it's in the subconscious"},{"speaker":"Nick Lincoln","startTime":1708.36,"endTime":1711.3,"body":"thinking so and so's WhatsApp,"},{"speaker":"Nick Lincoln","startTime":1708.36,"endTime":1711.3,"body":"me, but it's just the way of the"},{"speaker":"Nick Lincoln","startTime":1711.3,"endTime":1711.75,"body":"world."},{"speaker":"Unknown","startTime":1712.8899999999999,"endTime":1715.17,"body":"It's the way the world."},{"speaker":"Unknown","startTime":1712.8899999999999,"endTime":1715.17,"body":"Okay,"},{"speaker":"Alan Smith","startTime":1716.1599999999999,"endTime":1718.29,"body":"good. What else?"},{"speaker":"Nick Lincoln","startTime":1718.98,"endTime":1722.3999999999999,"body":"What else? Okay."},{"speaker":"Nick Lincoln","startTime":1718.98,"endTime":1722.3999999999999,"body":"As Andy, have you is that I"},{"speaker":"Nick Lincoln","startTime":1722.3999999999999,"endTime":1723.1499999999999,"body":"think we have to that subject."},{"speaker":"Alan Smith","startTime":1724.92,"endTime":1727.02,"body":"I think we should"},{"speaker":"Alan Smith","startTime":1724.92,"endTime":1727.02,"body":"explore perhaps not this one,"},{"speaker":"Alan Smith","startTime":1727.02,"endTime":1730.32,"body":"but but the kind of the entire,"},{"speaker":"Alan Smith","startTime":1727.02,"endTime":1730.32,"body":"the client journey, what you go"},{"speaker":"Alan Smith","startTime":1730.32,"endTime":1734.49,"body":"through because we have, it's"},{"speaker":"Alan Smith","startTime":1730.32,"endTime":1734.49,"body":"one of this is back to this"},{"speaker":"Alan Smith","startTime":1734.49,"endTime":1738.12,"body":"concept that the work we do is"},{"speaker":"Alan Smith","startTime":1734.49,"endTime":1738.12,"body":"very experiential. How do you"},{"speaker":"Alan Smith","startTime":1738.12,"endTime":1742.3799999999999,"body":"separate yourself from everyone"},{"speaker":"Alan Smith","startTime":1738.12,"endTime":1742.3799999999999,"body":"else out there? And you want to"},{"speaker":"Alan Smith","startTime":1742.3799999999999,"endTime":1746.67,"body":"make a positive? Truce? Yeah,"},{"speaker":"Alan Smith","startTime":1742.3799999999999,"endTime":1746.67,"body":"well, you don't need to, and you"},{"speaker":"Alan Smith","startTime":1746.67,"endTime":1748.62,"body":"can be mediocre. No,"},{"speaker":"Nick Lincoln","startTime":1749.97,"endTime":1752.79,"body":"I've got great way"},{"speaker":"Nick Lincoln","startTime":1749.97,"endTime":1752.79,"body":"of separating yourself. I've got"},{"speaker":"Nick Lincoln","startTime":1752.79,"endTime":1755.43,"body":"a great way. Because because"},{"speaker":"Nick Lincoln","startTime":1752.79,"endTime":1755.43,"body":"there is so much mediocrity out"},{"speaker":"Nick Lincoln","startTime":1755.43,"endTime":1757.08,"body":"there not just in our"},{"speaker":"Nick Lincoln","startTime":1755.43,"endTime":1757.08,"body":"profession, but across most"},{"speaker":"Nick Lincoln","startTime":1757.08,"endTime":1760.59,"body":"professions. Tell people what"},{"speaker":"Nick Lincoln","startTime":1757.08,"endTime":1760.59,"body":"you're going to do. And then do"},{"speaker":"Nick Lincoln","startTime":1760.59,"endTime":1765.21,"body":"it. Right And straight away"},{"speaker":"Nick Lincoln","startTime":1760.59,"endTime":1765.21,"body":"you're on an island. Next next"},{"speaker":"Nick Lincoln","startTime":1765.21,"endTime":1767.85,"body":"lab, which is which is not which"},{"speaker":"Nick Lincoln","startTime":1765.21,"endTime":1767.85,"body":"is a bit sad, but it just this"},{"speaker":"Nick Lincoln","startTime":1767.85,"endTime":1770.73,"body":"is what I'm going to do for you."},{"speaker":"Nick Lincoln","startTime":1767.85,"endTime":1770.73,"body":"And then make sure you bloody"},{"speaker":"Nick Lincoln","startTime":1770.73,"endTime":1773.85,"body":"well do it. And already you've"},{"speaker":"Nick Lincoln","startTime":1770.73,"endTime":1773.85,"body":"separated yourself from the from"},{"speaker":"Nick Lincoln","startTime":1773.85,"endTime":1774.42,"body":"the chaff."},{"speaker":"Alan Smith","startTime":1775.68,"endTime":1777.8999999999999,"body":"Yeah, hopefully"},{"speaker":"Alan Smith","startTime":1775.68,"endTime":1777.8999999999999,"body":"there are things that you will"},{"speaker":"Alan Smith","startTime":1777.8999999999999,"endTime":1780.48,"body":"do that the client has in"},{"speaker":"Alan Smith","startTime":1777.8999999999999,"endTime":1780.48,"body":"doesn't even know or understand"},{"speaker":"Alan Smith","startTime":1780.78,"endTime":1784.6499999999999,"body":"what you've done, where there is"},{"speaker":"Alan Smith","startTime":1780.78,"endTime":1784.6499999999999,"body":"huge value has been created. The"},{"speaker":"Alan Smith","startTime":1784.68,"endTime":1787.4099999999999,"body":"it's a cliche, but it's an it's"},{"speaker":"Alan Smith","startTime":1784.68,"endTime":1787.4099999999999,"body":"an obvious one. That's why it's"},{"speaker":"Alan Smith","startTime":1787.4099999999999,"endTime":1791.31,"body":"a cliche, but I used to always"},{"speaker":"Alan Smith","startTime":1787.4099999999999,"endTime":1791.31,"body":"use this example in my office in"},{"speaker":"Alan Smith","startTime":1791.31,"endTime":1795.99,"body":"the city, there is a Starbucks"},{"speaker":"Alan Smith","startTime":1791.31,"endTime":1795.99,"body":"and have a morning, with normal"},{"speaker":"Alan Smith","startTime":1842.07,"endTime":1844.86,"body":"times the queue run the block at"},{"speaker":"Alan Smith","startTime":1842.07,"endTime":1844.86,"body":"like eight o'clock 830 in the"},{"speaker":"Alan Smith","startTime":1844.86,"endTime":1847.9799999999998,"body":"morning to get a Starbucks"},{"speaker":"Alan Smith","startTime":1844.86,"endTime":1847.9799999999998,"body":"coffee, three pounds 50 for a"},{"speaker":"Alan Smith","startTime":1847.9799999999998,"endTime":1850.8,"body":"coffee, and there is an Italian"},{"speaker":"Alan Smith","startTime":1847.9799999999998,"endTime":1850.8,"body":"coffee shop around the corner,"},{"speaker":"Alan Smith","startTime":1851.1,"endTime":1853.56,"body":"which has got far better coffee"},{"speaker":"Alan Smith","startTime":1851.1,"endTime":1853.56,"body":"and it's empty at any given"},{"speaker":"Alan Smith","startTime":1853.56,"endTime":1857.2199999999998,"body":"time. And you ask yourself why?"},{"speaker":"Alan Smith","startTime":1853.56,"endTime":1857.2199999999998,"body":"Because Starbucks create an"},{"speaker":"Alan Smith","startTime":1857.2199999999998,"endTime":1861.6599999999999,"body":"experience more so than the raw"},{"speaker":"Alan Smith","startTime":1857.2199999999998,"endTime":1861.6599999999999,"body":"ingredients. Right? So coffee is"},{"speaker":"Alan Smith","startTime":1861.6599999999999,"endTime":1864.3899999999999,"body":"just a coffee bean and hot water"},{"speaker":"Alan Smith","startTime":1861.6599999999999,"endTime":1864.3899999999999,"body":"generally few other bits and"},{"speaker":"Alan Smith","startTime":1864.3899999999999,"endTime":1868.3799999999999,"body":"pieces sugar, something but"},{"speaker":"Alan Smith","startTime":1864.3899999999999,"endTime":1868.3799999999999,"body":"that's it. So I was a big fan of"},{"speaker":"Alan Smith","startTime":1868.3799999999999,"endTime":1872.1,"body":"creating a really valuable"},{"speaker":"Alan Smith","startTime":1868.3799999999999,"endTime":1872.1,"body":"client experience that the"},{"speaker":"Alan Smith","startTime":1872.1,"endTime":1874.62,"body":"clients might say I don't really"},{"speaker":"Alan Smith","startTime":1872.1,"endTime":1874.62,"body":"understand your investment"},{"speaker":"Alan Smith","startTime":1874.62,"endTime":1877.7399999999998,"body":"proposition, but I know that so"},{"speaker":"Alan Smith","startTime":1874.62,"endTime":1877.7399999999998,"body":"Really, although every time I"},{"speaker":"Alan Smith","startTime":1877.7399999999998,"endTime":1880.4099999999999,"body":"engage with you every time from"},{"speaker":"Alan Smith","startTime":1877.7399999999998,"endTime":1880.4099999999999,"body":"the first moment we spoke to"},{"speaker":"Alan Smith","startTime":1880.4099999999999,"endTime":1884.3999999999999,"body":"you, it's been a positive"},{"speaker":"Alan Smith","startTime":1880.4099999999999,"endTime":1884.3999999999999,"body":"experience. And just looking at"},{"speaker":"Alan Smith","startTime":1884.3999999999999,"endTime":1888.33,"body":"all the, I think called critical"},{"speaker":"Alan Smith","startTime":1884.3999999999999,"endTime":1888.33,"body":"non essentials, it's used in"},{"speaker":"Alan Smith","startTime":1888.33,"endTime":1892.4699999999998,"body":"sport. The use of a lot of other"},{"speaker":"Alan Smith","startTime":1888.33,"endTime":1892.4699999999998,"body":"world class elite sports teams"},{"speaker":"Alan Smith","startTime":1892.4699999999998,"endTime":1894.87,"body":"have used these things and loads"},{"speaker":"Alan Smith","startTime":1892.4699999999998,"endTime":1894.87,"body":"of tiny little things all added"},{"speaker":"Alan Smith","startTime":1894.87,"endTime":1897.6899999999998,"body":"together, make hang on a minute,"},{"speaker":"Alan Smith","startTime":1894.87,"endTime":1897.6899999999998,"body":"this is really quite good, are"},{"speaker":"Alan Smith","startTime":1897.6899999999998,"endTime":1902.04,"body":"really enjoying this process."},{"speaker":"Alan Smith","startTime":1897.6899999999998,"endTime":1902.04,"body":"It's a it's always a work in"},{"speaker":"Alan Smith","startTime":1902.04,"endTime":1904.4099999999999,"body":"progress. We're always trying to"},{"speaker":"Alan Smith","startTime":1902.04,"endTime":1904.4099999999999,"body":"make make it better. We might"},{"speaker":"Alan Smith","startTime":1904.4099999999999,"endTime":1906.8999999999999,"body":"not have time to go deep dive on"},{"speaker":"Alan Smith","startTime":1904.4099999999999,"endTime":1906.8999999999999,"body":"this now, but I've certainly had"},{"speaker":"Alan Smith","startTime":1906.8999999999999,"endTime":1910.9499999999998,"body":"a lot of experience and"},{"speaker":"Alan Smith","startTime":1906.8999999999999,"endTime":1910.9499999999998,"body":"learnings over the last number"},{"speaker":"Alan Smith","startTime":1910.9499999999998,"endTime":1914.1,"body":"of years and how to how to make"},{"speaker":"Alan Smith","startTime":1910.9499999999998,"endTime":1914.1,"body":"that a far better enjoyable"},{"speaker":"Alan Smith","startTime":1914.1,"endTime":1914.6399999999999,"body":"experience."},{"speaker":"Nick Lincoln","startTime":1914.6699999999998,"endTime":1916.11,"body":"Yeah, I mean,"},{"speaker":"Nick Lincoln","startTime":1914.6699999999998,"endTime":1916.11,"body":"that's that's that was Clive"},{"speaker":"Nick Lincoln","startTime":1916.11,"endTime":1918.51,"body":"Woodward's formula. Wasn't that"},{"speaker":"Nick Lincoln","startTime":1916.11,"endTime":1918.51,"body":"critical nonessentials into"},{"speaker":"Nick Lincoln","startTime":1918.51,"endTime":1921.3899999999999,"body":"that? In 2003 Call we did"},{"speaker":"Nick Lincoln","startTime":1918.51,"endTime":1921.3899999999999,"body":"something that may be alien to"},{"speaker":"Nick Lincoln","startTime":1921.3899999999999,"endTime":1924.87,"body":"you. We won a World Cup Rugby"},{"speaker":"Nick Lincoln","startTime":1921.3899999999999,"endTime":1924.87,"body":"World Cup and the success of"},{"speaker":"Nick Lincoln","startTime":1924.87,"endTime":1927.4499999999998,"body":"that was really built on the"},{"speaker":"Nick Lincoln","startTime":1924.87,"endTime":1927.4499999999998,"body":"back of just paying attention to"},{"speaker":"Nick Lincoln","startTime":1927.4499999999998,"endTime":1929.52,"body":"the small stuff. It does"},{"speaker":"Nick Lincoln","startTime":1927.4499999999998,"endTime":1929.52,"body":"incremental stuff. And the same"},{"speaker":"Nick Lincoln","startTime":1929.52,"endTime":1931.4699999999998,"body":"with the British Cycling Team I"},{"speaker":"Nick Lincoln","startTime":1929.52,"endTime":1931.4699999999998,"body":"think as well."},{"speaker":"Andy Hart","startTime":1931.86,"endTime":1933.7199999999998,"body":"We should do on the"},{"speaker":"Andy Hart","startTime":1931.86,"endTime":1933.7199999999998,"body":"last one anyway."},{"speaker":"Carl Widger","startTime":1937.1999999999998,"endTime":1939.1799999999998,"body":"Good if we're just"},{"speaker":"Carl Widger","startTime":1937.1999999999998,"endTime":1939.1799999999998,"body":"like it was we're we're the"},{"speaker":"Carl Widger","startTime":1939.1799999999998,"endTime":1941.9699999999998,"body":"cycling team was there? Was"},{"speaker":"Carl Widger","startTime":1939.1799999999998,"endTime":1941.9699999999998,"body":"there other stuff going on and"},{"speaker":"Carl Widger","startTime":1942.2099999999998,"endTime":1945.09,"body":"on? Nevermind, move on. Oh,"},{"speaker":"Nick Lincoln","startTime":1946.53,"endTime":1949.26,"body":"you're inferring"},{"speaker":"Nick Lincoln","startTime":1946.53,"endTime":1949.26,"body":"something nefarious? I"},{"speaker":"Alan Smith","startTime":1949.4399999999998,"endTime":1951.3,"body":"know the cycling"},{"speaker":"Alan Smith","startTime":1949.4399999999998,"endTime":1951.3,"body":"team. Dave Brailsford, that was"},{"speaker":"Alan Smith","startTime":1951.3,"endTime":1953.7299999999998,"body":"the that was the famous one as"},{"speaker":"Alan Smith","startTime":1951.3,"endTime":1953.7299999999998,"body":"well. He went from being just"},{"speaker":"Alan Smith","startTime":1953.7299999999998,"endTime":1957.12,"body":"absolute hopeless cycling team"},{"speaker":"Alan Smith","startTime":1953.7299999999998,"endTime":1957.12,"body":"to absolute dominating the"},{"speaker":"Alan Smith","startTime":1957.12,"endTime":1960.9599999999998,"body":"sport, which the largely"},{"speaker":"Alan Smith","startTime":1957.12,"endTime":1960.9599999999998,"body":"continued to true story."},{"speaker":"Carl Widger","startTime":1964.4399999999998,"endTime":1967.6799999999998,"body":"We all know almost"},{"speaker":"Carl Widger","startTime":1964.4399999999998,"endTime":1967.6799999999998,"body":"unbelievable. Yeah."},{"speaker":"Nick Lincoln","startTime":1969.2099999999998,"endTime":1971.1899999999998,"body":"Now now now now we"},{"speaker":"Nick Lincoln","startTime":1969.2099999999998,"endTime":1971.1899999999998,"body":"don't want we don't want this."},{"speaker":"Nick Lincoln","startTime":1971.1899999999998,"endTime":1975.27,"body":"We don't want cynicism creeping"},{"speaker":"Nick Lincoln","startTime":1971.1899999999998,"endTime":1975.27,"body":"into this. Okay, very, very"},{"speaker":"Nick Lincoln","startTime":1975.27,"endTime":1978.75,"body":"good. I'm going to quickly"},{"speaker":"Nick Lincoln","startTime":1975.27,"endTime":1978.75,"body":"rotate into this is a very in"},{"speaker":"Nick Lincoln","startTime":1978.75,"endTime":1982.11,"body":"the weeds subjects. And if you"},{"speaker":"Nick Lincoln","startTime":1978.75,"endTime":1982.11,"body":"think it's boring, we can just"},{"speaker":"Nick Lincoln","startTime":1982.1999999999998,"endTime":1986.37,"body":"do it very quickly. model"},{"speaker":"Nick Lincoln","startTime":1982.1999999999998,"endTime":1986.37,"body":"portfolio services. I don't"},{"speaker":"Nick Lincoln","startTime":1986.37,"endTime":1988.8899999999999,"body":"really see if you're if you"},{"speaker":"Nick Lincoln","startTime":1986.37,"endTime":1988.8899999999999,"body":"believe in the passive approach"},{"speaker":"Nick Lincoln","startTime":1988.8899999999999,"endTime":1992.3999999999999,"body":"to investing. I don't really see"},{"speaker":"Nick Lincoln","startTime":1988.8899999999999,"endTime":1992.3999999999999,"body":"their utility I'd be welcome to"},{"speaker":"Nick Lincoln","startTime":1992.3999999999999,"endTime":1995.01,"body":"be shut down. And I'd also like"},{"speaker":"Nick Lincoln","startTime":1992.3999999999999,"endTime":1995.01,"body":"your views if you have them at"},{"speaker":"Nick Lincoln","startTime":1995.01,"endTime":1998.79,"body":"all about Blackrock entering the"},{"speaker":"Nick Lincoln","startTime":1995.01,"endTime":1998.79,"body":"model portfolio service for the"},{"speaker":"Nick Lincoln","startTime":1998.79,"endTime":2003.53,"body":"first time ever. Obviously, one"},{"speaker":"Nick Lincoln","startTime":1998.79,"endTime":2003.53,"body":"of the biggest asset managers in"},{"speaker":"Nick Lincoln","startTime":2003.53,"endTime":2007.1899999999998,"body":"the world, absolutely ginormous."},{"speaker":"Nick Lincoln","startTime":2003.53,"endTime":2007.1899999999998,"body":"The biggest Okay, I think them"},{"speaker":"Nick Lincoln","startTime":2007.1899999999998,"endTime":2011.2399999999998,"body":"at Vanguard, and they are now"},{"speaker":"Nick Lincoln","startTime":2007.1899999999998,"endTime":2011.2399999999998,"body":"offering model portfolios"},{"speaker":"Nick Lincoln","startTime":2011.2399999999998,"endTime":2015.32,"body":"through one platform only"},{"speaker":"Nick Lincoln","startTime":2011.2399999999998,"endTime":2015.32,"body":"Transact. So what am I not"},{"speaker":"Nick Lincoln","startTime":2015.32,"endTime":2018.1399999999999,"body":"getting about model portfolio"},{"speaker":"Nick Lincoln","startTime":2015.32,"endTime":2018.1399999999999,"body":"services? What what what would"},{"speaker":"Nick Lincoln","startTime":2018.1399999999999,"endTime":2020.2399999999998,"body":"they give me that I'm not"},{"speaker":"Nick Lincoln","startTime":2018.1399999999999,"endTime":2020.2399999999998,"body":"getting currently and what do we"},{"speaker":"Nick Lincoln","startTime":2020.2399999999998,"endTime":2021.7099999999998,"body":"think about Blackrock coming"},{"speaker":"Nick Lincoln","startTime":2020.2399999999998,"endTime":2021.7099999999998,"body":"into it? That's my question."},{"speaker":"Alan Smith","startTime":2021.7399999999998,"endTime":2023.51,"body":"What do you mean"},{"speaker":"Alan Smith","startTime":2021.7399999999998,"endTime":2023.51,"body":"that your model what you mean,"},{"speaker":"Alan Smith","startTime":2023.51,"endTime":2026.6599999999999,"body":"like Vanguard lifestrategy as a"},{"speaker":"Alan Smith","startTime":2023.51,"endTime":2026.6599999999999,"body":"model portfolio service, that'd"},{"speaker":"Alan Smith","startTime":2026.6599999999999,"endTime":2027.5,"body":"be me. No,"},{"speaker":"Nick Lincoln","startTime":2027.77,"endTime":2030.3799999999999,"body":"no, no model"},{"speaker":"Nick Lincoln","startTime":2027.77,"endTime":2030.3799999999999,"body":"portfolio services where where a"},{"speaker":"Nick Lincoln","startTime":2030.3799999999999,"endTime":2034.6399999999999,"body":"third idea, the effective DFM,"},{"speaker":"Nick Lincoln","startTime":2030.3799999999999,"endTime":2034.6399999999999,"body":"and they put together portfolios"},{"speaker":"Nick Lincoln","startTime":2034.6399999999999,"endTime":2037.37,"body":"for you, which is what Blackrock"},{"speaker":"Nick Lincoln","startTime":2034.6399999999999,"endTime":2037.37,"body":"are doing mainly comprised of"},{"speaker":"Nick Lincoln","startTime":2037.37,"endTime":2042.53,"body":"Blackrock ETFs, and about 20%,"},{"speaker":"Nick Lincoln","startTime":2037.37,"endTime":2042.53,"body":"non Blackrock ETFs. And they,"},{"speaker":"Nick Lincoln","startTime":2042.56,"endTime":2045.8,"body":"they they switch the funds and"},{"speaker":"Nick Lincoln","startTime":2042.56,"endTime":2045.8,"body":"they allocate in and they have"},{"speaker":"Nick Lincoln","startTime":2045.8,"endTime":2048.41,"body":"got their proprietary system and"},{"speaker":"Nick Lincoln","startTime":2045.8,"endTime":2048.41,"body":"all this kind of stuff. I'm"},{"speaker":"Nick Lincoln","startTime":2048.41,"endTime":2050.48,"body":"thinking, yeah, they they charge"},{"speaker":"Nick Lincoln","startTime":2048.41,"endTime":2050.48,"body":"about"},{"speaker":"Andy Hart","startTime":2050.57,"endTime":2053.93,"body":"between between sort"},{"speaker":"Andy Hart","startTime":2050.57,"endTime":2053.93,"body":"of six and 10 basis points to"},{"speaker":"Andy Hart","startTime":2053.96,"endTime":2056.84,"body":"just do a little bit more of the"},{"speaker":"Andy Hart","startTime":2053.96,"endTime":2056.84,"body":"admin that advisors may or may"},{"speaker":"Andy Hart","startTime":2056.84,"endTime":2059.69,"body":"not struggle with. A yes on some"},{"speaker":"Andy Hart","startTime":2056.84,"endTime":2059.69,"body":"things around"},{"speaker":"Carl Widger","startTime":2059.75,"endTime":2062.33,"body":"rebalancing. Well,"},{"speaker":"Carl Widger","startTime":2059.75,"endTime":2062.33,"body":"why why wouldn't you just use"},{"speaker":"Carl Widger","startTime":2063.11,"endTime":2066.53,"body":"the dimensional world allocation"},{"speaker":"Carl Widger","startTime":2063.11,"endTime":2066.53,"body":"funds? It's rebalanced"},{"speaker":"Carl Widger","startTime":2066.53,"endTime":2067.52,"body":"automatically."},{"speaker":"Andy Hart","startTime":2067.58,"endTime":2070.04,"body":"You could that is"},{"speaker":"Andy Hart","startTime":2067.58,"endTime":2070.04,"body":"rebalance automatically. Yeah."},{"speaker":"Alan Smith","startTime":2070.76,"endTime":2074.48,"body":"We thank God"},{"speaker":"Alan Smith","startTime":2070.76,"endTime":2074.48,"body":"lifestrategy says, oh, exactly."},{"speaker":"Nick Lincoln","startTime":2075.86,"endTime":2079.22,"body":"Yeah. Okay, I'll"},{"speaker":"Nick Lincoln","startTime":2075.86,"endTime":2079.22,"body":"throw it out there. I think"},{"speaker":"Nick Lincoln","startTime":2079.22,"endTime":2082.49,"body":"there are SOP, two advisors who"},{"speaker":"Nick Lincoln","startTime":2079.22,"endTime":2082.49,"body":"have who are just very nervous"},{"speaker":"Nick Lincoln","startTime":2082.49,"endTime":2084.2,"body":"that the compliance thing and"},{"speaker":"Nick Lincoln","startTime":2082.49,"endTime":2084.2,"body":"they think, okay, if I use"},{"speaker":"Nick Lincoln","startTime":2084.2,"endTime":2088.13,"body":"BlackRock, a, I'm not tying"},{"speaker":"Nick Lincoln","startTime":2084.2,"endTime":2088.13,"body":"myself to one brand dimensional"},{"speaker":"Nick Lincoln","startTime":2088.13,"endTime":2091.43,"body":"Vanguard. Although, as I said,"},{"speaker":"Nick Lincoln","startTime":2088.13,"endTime":2091.43,"body":"80% of the underlying ETFs at"},{"speaker":"Nick Lincoln","startTime":2091.43,"endTime":2095.15,"body":"launch, aren't Blackrock funds."},{"speaker":"Nick Lincoln","startTime":2091.43,"endTime":2095.15,"body":"And Blackrock tunnels showed all"},{"speaker":"Nick Lincoln","startTime":2095.15,"endTime":2097.04,"body":"the compliance with a"},{"speaker":"Nick Lincoln","startTime":2095.15,"endTime":2097.04,"body":"justification for why these"},{"speaker":"Nick Lincoln","startTime":2097.04,"endTime":2101.63,"body":"funds are using, they'll give me"},{"speaker":"Nick Lincoln","startTime":2097.04,"endTime":2101.63,"body":"lovely shiny reports. And"},{"speaker":"Nick Lincoln","startTime":2101.63,"endTime":2104.36,"body":"there's a bit of a tax benefit"},{"speaker":"Nick Lincoln","startTime":2101.63,"endTime":2104.36,"body":"as well. So if you've got a lot"},{"speaker":"Nick Lincoln","startTime":2104.36,"endTime":2106.7,"body":"of money in a GIC that"},{"speaker":"Nick Lincoln","startTime":2104.36,"endTime":2106.7,"body":"potentially will be liable to"},{"speaker":"Nick Lincoln","startTime":2106.7,"endTime":2110.6,"body":"CGT capital gains tax when you"},{"speaker":"Nick Lincoln","startTime":2106.7,"endTime":2110.6,"body":"switch funds yourself when you"},{"speaker":"Nick Lincoln","startTime":2110.6,"endTime":2113.39,"body":"do a rebalancing. If it's within"},{"speaker":"Nick Lincoln","startTime":2110.6,"endTime":2113.39,"body":"a model portfolio, I guess that"},{"speaker":"Nick Lincoln","startTime":2113.39,"endTime":2115.31,"body":"doesn't happen. That's all"},{"speaker":"Nick Lincoln","startTime":2113.39,"endTime":2115.31,"body":"wrapped up in the unit price."},{"speaker":"Nick Lincoln","startTime":2115.88,"endTime":2119.12,"body":"That Blackrock charges six basis"},{"speaker":"Nick Lincoln","startTime":2115.88,"endTime":2119.12,"body":"points, but I still think okay,"},{"speaker":"Nick Lincoln","startTime":2119.12,"endTime":2122.54,"body":"but I don't see why there's that"},{"speaker":"Nick Lincoln","startTime":2119.12,"endTime":2122.54,"body":"friction in the system."},{"speaker":"Andy Hart","startTime":2123.29,"endTime":2126.08,"body":"That Hello, charging"},{"speaker":"Andy Hart","startTime":2123.29,"endTime":2126.08,"body":"six. Yeah. And then of course,"},{"speaker":"Alan Smith","startTime":2130.159,"endTime":2133.069,"body":"they charge six"},{"speaker":"Alan Smith","startTime":2130.159,"endTime":2133.069,"body":"basis points for their admin and"},{"speaker":"Alan Smith","startTime":2133.069,"endTime":2135.439,"body":"oversight. And then you you,"},{"speaker":"Alan Smith","startTime":2133.069,"endTime":2135.439,"body":"obviously, in addition, you pay"},{"speaker":"Alan Smith","startTime":2135.439,"endTime":2137.629,"body":"the underlying fund fee for the"},{"speaker":"Nick Lincoln","startTime":2137.66,"endTime":2140.0299999999997,"body":"it's about eight"},{"speaker":"Nick Lincoln","startTime":2137.66,"endTime":2140.0299999999997,"body":"to 18% is the model portfolio"},{"speaker":"Nick Lincoln","startTime":2140.0299999999997,"endTime":2143.81,"body":"and 6% is six basis points is"},{"speaker":"Nick Lincoln","startTime":2140.0299999999997,"endTime":2143.81,"body":"there's been like 2024 basis"},{"speaker":"Nick Lincoln","startTime":2143.81,"endTime":2144.41,"body":"points all in"},{"speaker":"Alan Smith","startTime":2144.439,"endTime":2147.529,"body":"including a bit of"},{"speaker":"Alan Smith","startTime":2144.439,"endTime":2147.529,"body":"admin, which is good is Does"},{"speaker":"Alan Smith","startTime":2147.529,"endTime":2147.979,"body":"that include"},{"speaker":"Carl Widger","startTime":2147.979,"endTime":2148.759,"body":"the platform?"},{"speaker":"Unknown","startTime":2149.3599999999997,"endTime":2150.2599999999998,"body":"Now? Yeah, it's"},{"speaker":"Carl Widger","startTime":2154.219,"endTime":2158.269,"body":"typically actually,"},{"speaker":"Carl Widger","startTime":2154.219,"endTime":2158.269,"body":"here's a just a question for for"},{"speaker":"Carl Widger","startTime":2158.269,"endTime":2161.419,"body":"myself and anybody else from"},{"speaker":"Carl Widger","startTime":2158.269,"endTime":2161.419,"body":"Ireland? What What are what's a"},{"speaker":"Carl Widger","startTime":2161.8689999999997,"endTime":2164.839,"body":"typical platform charge in the"},{"speaker":"Carl Widger","startTime":2161.8689999999997,"endTime":2164.839,"body":"UK"},{"speaker":"Nick Lincoln","startTime":2165.77,"endTime":2168.65,"body":"24 basis points."},{"speaker":"Nick Lincoln","startTime":2165.77,"endTime":2168.65,"body":"23. Verizon."},{"speaker":"Alan Smith","startTime":2169.969,"endTime":2172.009,"body":"FiOS depends on"},{"speaker":"Alan Smith","startTime":2169.969,"endTime":2172.009,"body":"scale and size and if you've"},{"speaker":"Alan Smith","startTime":2172.009,"endTime":2177.769,"body":"negotiated well, from from 10 to"},{"speaker":"Alan Smith","startTime":2172.009,"endTime":2177.769,"body":"2425. I think under you"},{"speaker":"Carl Widger","startTime":2177.77,"endTime":2180.3199999999997,"body":"just said 35 digit,"},{"speaker":"Carl Widger","startTime":2177.77,"endTime":2180.3199999999997,"body":"the average"},{"speaker":"Andy Hart","startTime":2180.35,"endTime":2182.2999999999997,"body":"would be 0.35."},{"speaker":"Nick Lincoln","startTime":2182.33,"endTime":2185.21,"body":"Yeah. Hargreaves"},{"speaker":"Nick Lincoln","startTime":2182.33,"endTime":2185.21,"body":"Lansdown and those kinds of"},{"speaker":"Nick Lincoln","startTime":2185.21,"endTime":2187.73,"body":"things. Yeah, just everyone?"},{"speaker":"Nick Lincoln","startTime":2185.21,"endTime":2187.73,"body":"Yeah,"},{"speaker":"Andy Hart","startTime":2187.97,"endTime":2188.96,"body":"I would say."},{"speaker":"Carl Widger","startTime":2189.71,"endTime":2192.38,"body":"So a good, a good"},{"speaker":"Carl Widger","startTime":2189.71,"endTime":2192.38,"body":"financial planning firm would"},{"speaker":"Carl Widger","startTime":2192.41,"endTime":2195.83,"body":"would be paying homage to their"},{"speaker":"Carl Widger","startTime":2192.41,"endTime":2195.83,"body":"platform provider approximately"},{"speaker":"Nick Lincoln","startTime":2196.1,"endTime":2199.67,"body":"25 basis points or"},{"speaker":"Nick Lincoln","startTime":2196.1,"endTime":2199.67,"body":"less? Yes. Okay."},{"speaker":"Alan Smith","startTime":2200.63,"endTime":2202.94,"body":"It seems to me that"},{"speaker":"Alan Smith","startTime":2200.63,"endTime":2202.94,"body":"has always felt really, really"},{"speaker":"Alan Smith","startTime":2202.94,"endTime":2205.88,"body":"punchy, for that I know is"},{"speaker":"Alan Smith","startTime":2202.94,"endTime":2205.88,"body":"there's no need to use them. But"},{"speaker":"Alan Smith","startTime":2206.18,"endTime":2209.0899999999997,"body":"if you pay more for your custody"},{"speaker":"Alan Smith","startTime":2206.18,"endTime":2209.0899999999997,"body":"and admin than you paying for,"},{"speaker":"Alan Smith","startTime":2209.15,"endTime":2210.92,"body":"you know, global asset"},{"speaker":"Alan Smith","startTime":2209.15,"endTime":2210.92,"body":"allocation and investment"},{"speaker":"Alan Smith","startTime":2210.92,"endTime":2213.47,"body":"management, surely that's"},{"speaker":"Unknown","startTime":2213.589,"endTime":2217.609,"body":"that. He's crushing."},{"speaker":"Andy Hart","startTime":2217.6099999999997,"endTime":2220.0699999999997,"body":"That's fairly priced"},{"speaker":"Andy Hart","startTime":2217.6099999999997,"endTime":2220.0699999999997,"body":"to be fair. Yeah."},{"speaker":"Alan Smith","startTime":2221.0899999999997,"endTime":2223.88,"body":"35 basis point"},{"speaker":"Alan Smith","startTime":2221.0899999999997,"endTime":2223.88,"body":"basis. And I'm getting I'm"},{"speaker":"Alan Smith","startTime":2223.88,"endTime":2224.06,"body":"getting"},{"speaker":"Nick Lincoln","startTime":2224.0899999999997,"endTime":2227.27,"body":"Oh, no, not 30."},{"speaker":"Nick Lincoln","startTime":2224.0899999999997,"endTime":2227.27,"body":"No, no, no, no, not 2025. And"},{"speaker":"Nick Lincoln","startTime":2227.27,"endTime":2231.62,"body":"less, not. 3535 35 is a lot. 35"},{"speaker":"Nick Lincoln","startTime":2227.27,"endTime":2231.62,"body":"is what Transact charge when"},{"speaker":"Nick Lincoln","startTime":2231.62,"endTime":2233.21,"body":"they first came into this"},{"speaker":"Nick Lincoln","startTime":2231.62,"endTime":2233.21,"body":"country 20 years ago."},{"speaker":"Carl Widger","startTime":2233.87,"endTime":2241.0699999999997,"body":"It's 40. Here. So"},{"speaker":"Carl Widger","startTime":2233.87,"endTime":2241.0699999999997,"body":"it's point for you. Does it"},{"speaker":"Carl Widger","startTime":2241.0699999999997,"endTime":2241.6099999999997,"body":"easy? Well,"},{"speaker":"Alan Smith","startTime":2241.64,"endTime":2244.4,"body":"well, it is I"},{"speaker":"Alan Smith","startTime":2241.64,"endTime":2244.4,"body":"believe this is a whole area is"},{"speaker":"Alan Smith","startTime":2244.4,"endTime":2247.2799999999997,"body":"in for significant disruption."},{"speaker":"Alan Smith","startTime":2244.4,"endTime":2247.2799999999997,"body":"As we know there's in the UK,"},{"speaker":"Alan Smith","startTime":2247.2799999999997,"endTime":2250.25,"body":"there's one organization which"},{"speaker":"Alan Smith","startTime":2247.2799999999997,"endTime":2250.25,"body":"dominate the marketplace F and"},{"speaker":"Alan Smith","startTime":2250.25,"endTime":2253.49,"body":"Zed. They're the kind of the"},{"speaker":"Alan Smith","startTime":2250.25,"endTime":2253.49,"body":"tech behind a lot of the biggest"},{"speaker":"Alan Smith","startTime":2253.49,"endTime":2259.4,"body":"platforms in the UK. And those"},{"speaker":"Alan Smith","startTime":2253.49,"endTime":2259.4,"body":"platforms are, they're buying it"},{"speaker":"Alan Smith","startTime":2259.4,"endTime":2262.3399999999997,"body":"off F F and Zed for pennies,"},{"speaker":"Alan Smith","startTime":2259.4,"endTime":2262.3399999999997,"body":"really an badging up as they're"},{"speaker":"Alan Smith","startTime":2262.3399999999997,"endTime":2265.79,"body":"on selling it for multiples of"},{"speaker":"Alan Smith","startTime":2262.3399999999997,"endTime":2265.79,"body":"it, if you listened to, you"},{"speaker":"Alan Smith","startTime":2265.79,"endTime":2268.0699999999997,"body":"know, the likes of David"},{"speaker":"Alan Smith","startTime":2265.79,"endTime":2268.0699999999997,"body":"Ferguson speaking about seckel"},{"speaker":"Alan Smith","startTime":2268.0699999999997,"endTime":2270.38,"body":"and some of the other"},{"speaker":"Alan Smith","startTime":2268.0699999999997,"endTime":2270.38,"body":"innovations that are coming into"},{"speaker":"Alan Smith","startTime":2270.38,"endTime":2274.16,"body":"the UK, that is one part of the"},{"speaker":"Alan Smith","startTime":2270.38,"endTime":2274.16,"body":"value chain, which is under"},{"speaker":"Alan Smith","startTime":2274.16,"endTime":2276.92,"body":"significant pressure and just"},{"speaker":"Alan Smith","startTime":2274.16,"endTime":2276.92,"body":"your 25 basis points is is"},{"speaker":"Alan Smith","startTime":2276.92,"endTime":2279.56,"body":"unsustainable long term, I"},{"speaker":"Alan Smith","startTime":2276.92,"endTime":2279.56,"body":"think, but at the same time, you"},{"speaker":"Alan Smith","startTime":2279.56,"endTime":2282.08,"body":"don't want any of these"},{"speaker":"Alan Smith","startTime":2279.56,"endTime":2282.08,"body":"companies going out of business."},{"speaker":"Alan Smith","startTime":2282.7999999999997,"endTime":2285.71,"body":"But that's, that's a downward"},{"speaker":"Alan Smith","startTime":2282.7999999999997,"endTime":2285.71,"body":"trajectory, I think we'll hit"},{"speaker":"Alan Smith","startTime":2285.71,"endTime":2288.71,"body":"Well, I think we'll settle it"},{"speaker":"Alan Smith","startTime":2285.71,"endTime":2288.71,"body":"closer to 10. You know, the in"},{"speaker":"Alan Smith","startTime":2289.0699999999997,"endTime":2291.44,"body":"and talking about and linking"},{"speaker":"Alan Smith","startTime":2289.0699999999997,"endTime":2291.44,"body":"this to the black rock thing,"},{"speaker":"Alan Smith","startTime":2291.5299999999997,"endTime":2294.65,"body":"you know, in the US a lot of the"},{"speaker":"Alan Smith","startTime":2291.5299999999997,"endTime":2294.65,"body":"the versions of that platform"},{"speaker":"Alan Smith","startTime":2294.65,"endTime":2298.3399999999997,"body":"cost of free, because you buy"},{"speaker":"Alan Smith","startTime":2294.65,"endTime":2298.3399999999997,"body":"their fund, you know, a lot of"},{"speaker":"Alan Smith","startTime":2298.3399999999997,"endTime":2301.37,"body":"the big globe, because it's law"},{"speaker":"Alan Smith","startTime":2298.3399999999997,"endTime":2301.37,"body":"of big numbers. If you've got"},{"speaker":"Alan Smith","startTime":2301.37,"endTime":2304.2799999999997,"body":"billions and billions and you're"},{"speaker":"Alan Smith","startTime":2301.37,"endTime":2304.2799999999997,"body":"paying 24 basis points, you can"},{"speaker":"Alan Smith","startTime":2304.2799999999997,"endTime":2306.38,"body":"chuck in the custody for nothing"},{"speaker":"Alan Smith","startTime":2304.2799999999997,"endTime":2306.38,"body":"to continue."},{"speaker":"Carl Widger","startTime":2307.1,"endTime":2309.74,"body":"So two black dudes"},{"speaker":"Carl Widger","startTime":2307.1,"endTime":2309.74,"body":"in the US then do BlackRock,"},{"speaker":"Carl Widger","startTime":2309.74,"endTime":2312.7999999999997,"body":"like have their own platform is"},{"speaker":"Carl Widger","startTime":2309.74,"endTime":2312.7999999999997,"body":"that we design our I don't know,"},{"speaker":"Alan Smith","startTime":2312.7999999999997,"endTime":2314.72,"body":"I don't have a black"},{"speaker":"Alan Smith","startTime":2312.7999999999997,"endTime":2314.72,"body":"run. I know people like Schwab"},{"speaker":"Alan Smith","startTime":2314.72,"endTime":2319.58,"body":"do fidelity, all those and it's"},{"speaker":"Alan Smith","startTime":2314.72,"endTime":2319.58,"body":"this, this is the whole thing."},{"speaker":"Alan Smith","startTime":2319.6099999999997,"endTime":2323.0299999999997,"body":"If you talk about costs in"},{"speaker":"Alan Smith","startTime":2319.6099999999997,"endTime":2323.0299999999997,"body":"general and the whole value"},{"speaker":"Alan Smith","startTime":2323.0299999999997,"endTime":2326.75,"body":"chain, the the numbers are"},{"speaker":"Alan Smith","startTime":2323.0299999999997,"endTime":2326.75,"body":"heading to zero, right? We're"},{"speaker":"Alan Smith","startTime":2326.75,"endTime":2328.97,"body":"not going I think but when I"},{"speaker":"Alan Smith","startTime":2326.75,"endTime":2328.97,"body":"started, I didn't know what"},{"speaker":"Alan Smith","startTime":2328.97,"endTime":2332.2999999999997,"body":"platform I didn't know what fund"},{"speaker":"Alan Smith","startTime":2328.97,"endTime":2332.2999999999997,"body":"management fees were to the"},{"speaker":"Alan Smith","startTime":2332.2999999999997,"endTime":2335.0,"body":"degree you knew a headline fund"},{"speaker":"Alan Smith","startTime":2332.2999999999997,"endTime":2335.0,"body":"management charge. I didn't know"},{"speaker":"Alan Smith","startTime":2335.0,"endTime":2337.91,"body":"all the other costs and charges."},{"speaker":"Alan Smith","startTime":2335.0,"endTime":2337.91,"body":"How now we're sort of quibbling."},{"speaker":"Andy Hart","startTime":2339.14,"endTime":2341.2999999999997,"body":"Platform costs are"},{"speaker":"Andy Hart","startTime":2339.14,"endTime":2341.2999999999997,"body":"nine to zero fund management"},{"speaker":"Andy Hart","startTime":2341.2999999999997,"endTime":2344.48,"body":"costs of nine to zero and"},{"speaker":"Andy Hart","startTime":2341.2999999999997,"endTime":2344.48,"body":"financial advisor fees and"},{"speaker":"Andy Hart","startTime":2344.48,"endTime":2345.2599999999998,"body":"lighting to zero."},{"speaker":"Alan Smith","startTime":2345.71,"endTime":2348.71,"body":"Well, you know, a"},{"speaker":"Alan Smith","startTime":2345.71,"endTime":2348.71,"body":"financial advisor fees are not"},{"speaker":"Alan Smith","startTime":2348.71,"endTime":2350.8399999999997,"body":"that's the one thing that seems"},{"speaker":"Alan Smith","startTime":2348.71,"endTime":2350.8399999999997,"body":"to be sticking, if anything are"},{"speaker":"Alan Smith","startTime":2350.8399999999997,"endTime":2355.04,"body":"going up, it's the other more"},{"speaker":"Alan Smith","startTime":2350.8399999999997,"endTime":2355.04,"body":"commoditized parts of that"},{"speaker":"Alan Smith","startTime":2355.04,"endTime":2359.12,"body":"process because there's lots of"},{"speaker":"Alan Smith","startTime":2355.04,"endTime":2359.12,"body":"ways they make money for look at"},{"speaker":"Alan Smith","startTime":2359.12,"endTime":2362.6,"body":"the getting up same in the UK,"},{"speaker":"Alan Smith","startTime":2359.12,"endTime":2362.6,"body":"Hargreaves, Lansdown AG Bell"},{"speaker":"Alan Smith","startTime":2362.6,"endTime":2366.02,"body":"companies like that they make"},{"speaker":"Alan Smith","startTime":2362.6,"endTime":2366.02,"body":"millions on their, their cash,"},{"speaker":"Alan Smith","startTime":2366.5299999999997,"endTime":2368.96,"body":"the amount of money, some cash"},{"speaker":"Alan Smith","startTime":2366.5299999999997,"endTime":2368.96,"body":"at any given time, is, you know,"},{"speaker":"Alan Smith","startTime":2368.96,"endTime":2371.8399999999997,"body":"10% of the entire portfolios on"},{"speaker":"Alan Smith","startTime":2368.96,"endTime":2371.8399999999997,"body":"which they're paying out close"},{"speaker":"Alan Smith","startTime":2371.8399999999997,"endTime":2374.3599999999997,"body":"to zero, but they're making a"},{"speaker":"Alan Smith","startTime":2371.8399999999997,"endTime":2374.3599999999997,"body":"turn on it, particularly when"},{"speaker":"Alan Smith","startTime":2374.3599999999997,"endTime":2377.21,"body":"interest rates are heading back"},{"speaker":"Alan Smith","startTime":2374.3599999999997,"endTime":2377.21,"body":"up again. They make plenty of"},{"speaker":"Alan Smith","startTime":2377.21,"endTime":2380.0299999999997,"body":"money. So So could you afford to"},{"speaker":"Alan Smith","startTime":2377.21,"endTime":2380.0299999999997,"body":"give away other parts of your"},{"speaker":"Alan Smith","startTime":2380.0299999999997,"endTime":2384.0499999999997,"body":"business in order to secure"},{"speaker":"Alan Smith","startTime":2380.0299999999997,"endTime":2384.0499999999997,"body":"return on this, which is, which"},{"speaker":"Alan Smith","startTime":2384.0499999999997,"endTime":2386.45,"body":"is undisclosed? You don't have"},{"speaker":"Alan Smith","startTime":2384.0499999999997,"endTime":2386.45,"body":"to disclose it, and it's just"},{"speaker":"Alan Smith","startTime":2386.45,"endTime":2388.64,"body":"part of their makeup. But you"},{"speaker":"Alan Smith","startTime":2386.45,"endTime":2388.64,"body":"look at the accounts of some of"},{"speaker":"Alan Smith","startTime":2388.64,"endTime":2391.64,"body":"these companies. It is"},{"speaker":"Alan Smith","startTime":2388.64,"endTime":2391.64,"body":"interesting pricing is becoming"},{"speaker":"Alan Smith","startTime":2391.64,"endTime":2395.5699999999997,"body":"more nuanced how you work these"},{"speaker":"Alan Smith","startTime":2391.64,"endTime":2395.5699999999997,"body":"things out. So I anyway, I think"},{"speaker":"Alan Smith","startTime":2395.5699999999997,"endTime":2399.35,"body":"certainly platform costs are"},{"speaker":"Alan Smith","startTime":2395.5699999999997,"endTime":2399.35,"body":"under pressure is clear fund"},{"speaker":"Alan Smith","startTime":2399.35,"endTime":2402.83,"body":"management fees are under"},{"speaker":"Alan Smith","startTime":2399.35,"endTime":2402.83,"body":"pressure. And hopefully advisor"},{"speaker":"Alan Smith","startTime":2402.83,"endTime":2403.49,"body":"fees are not."},{"speaker":"Nick Lincoln","startTime":2404.3599999999997,"endTime":2406.4,"body":"I would say with"},{"speaker":"Nick Lincoln","startTime":2404.3599999999997,"endTime":2406.4,"body":"with platforms, there's always"},{"speaker":"Nick Lincoln","startTime":2406.4,"endTime":2409.4,"body":"going to be a cost because it's"},{"speaker":"Nick Lincoln","startTime":2406.4,"endTime":2409.4,"body":"still human centric. They need"},{"speaker":"Nick Lincoln","startTime":2409.4,"endTime":2411.65,"body":"the back office staff with their"},{"speaker":"Nick Lincoln","startTime":2409.4,"endTime":2411.65,"body":"salaries and their pensions live"},{"speaker":"Nick Lincoln","startTime":2411.65,"endTime":2414.98,"body":"in the US. And the cost of"},{"speaker":"Nick Lincoln","startTime":2411.65,"endTime":2414.98,"body":"software. Redevelopment and"},{"speaker":"Nick Lincoln","startTime":2414.98,"endTime":2417.89,"body":"refining does come at cost"},{"speaker":"Nick Lincoln","startTime":2414.98,"endTime":2417.89,"body":"whereas if your management and"},{"speaker":"Nick Lincoln","startTime":2417.89,"endTime":2419.54,"body":"your and regular"},{"speaker":"Andy Hart","startTime":2419.5699999999997,"endTime":2420.5299999999997,"body":"regulation and"},{"speaker":"Nick Lincoln","startTime":2420.5299999999997,"endTime":2422.2999999999997,"body":"companion"},{"speaker":"Nick Lincoln","startTime":2420.5299999999997,"endTime":2422.2999999999997,"body":"regulation Yeah, you know,"},{"speaker":"Alan Smith","startTime":2422.2999999999997,"endTime":2424.64,"body":"it's it does, but"},{"speaker":"Alan Smith","startTime":2422.2999999999997,"endTime":2424.64,"body":"it's a bit scale makes a"},{"speaker":"Alan Smith","startTime":2424.64,"endTime":2427.7,"body":"difference. But Transact started"},{"speaker":"Alan Smith","startTime":2424.64,"endTime":2427.7,"body":"they had nothing. They've now"},{"speaker":"Alan Smith","startTime":2427.7,"endTime":2431.24,"body":"got however many billions and"},{"speaker":"Alan Smith","startTime":2427.7,"endTime":2431.24,"body":"billions assets. This is one"},{"speaker":"Alan Smith","startTime":2431.24,"endTime":2434.33,"body":"thing that hasn't there's very"},{"speaker":"Alan Smith","startTime":2431.24,"endTime":2434.33,"body":"little, well, there's been less"},{"speaker":"Alan Smith","startTime":2434.33,"endTime":2437.93,"body":"discounting for significant"},{"speaker":"Alan Smith","startTime":2434.33,"endTime":2437.93,"body":"scale, when you've got a billion"},{"speaker":"Alan Smith","startTime":2437.93,"endTime":2442.04,"body":"assets under management versus"},{"speaker":"Alan Smith","startTime":2437.93,"endTime":2442.04,"body":"100 billion or more. A lot of"},{"speaker":"Alan Smith","startTime":2442.04,"endTime":2445.52,"body":"those technological aspects are"},{"speaker":"Alan Smith","startTime":2442.04,"endTime":2445.52,"body":"simply duplicated with bigger"},{"speaker":"Alan Smith","startTime":2445.52,"endTime":2446.0,"body":"numbers."},{"speaker":"Carl Widger","startTime":2446.18,"endTime":2449.06,"body":"It's like the"},{"speaker":"Carl Widger","startTime":2446.18,"endTime":2449.06,"body":"Vanguard fees for their funds"},{"speaker":"Carl Widger","startTime":2452.0299999999997,"endTime":2453.62,"body":"came down over time because they"},{"speaker":"Carl Widger","startTime":2452.0299999999997,"endTime":2453.62,"body":"had"},{"speaker":"Alan Smith","startTime":2454.46,"endTime":2457.2799999999997,"body":"mentioned that as"},{"speaker":"Alan Smith","startTime":2454.46,"endTime":2457.2799999999997,"body":"well. Yeah. Should be should be"},{"speaker":"Alan Smith","startTime":2457.2799999999997,"endTime":2463.64,"body":"doing but interesting. So So"},{"speaker":"Alan Smith","startTime":2457.2799999999997,"endTime":2463.64,"body":"you're saying that you don't see"},{"speaker":"Alan Smith","startTime":2463.7,"endTime":2467.2999999999997,"body":"the point in model portfolios? I"},{"speaker":"Nick Lincoln","startTime":2467.2999999999997,"endTime":2468.74,"body":"don't know that's"},{"speaker":"Nick Lincoln","startTime":2467.2999999999997,"endTime":2468.74,"body":"probably been there must be"},{"speaker":"Nick Lincoln","startTime":2468.74,"endTime":2471.29,"body":"maybe ignorance from my point of"},{"speaker":"Nick Lincoln","startTime":2468.74,"endTime":2471.29,"body":"view and someone's got an"},{"speaker":"Nick Lincoln","startTime":2471.29,"endTime":2474.7999999999997,"body":"absolute golden bullet, Nick,"},{"speaker":"Nick Lincoln","startTime":2471.29,"endTime":2474.7999999999997,"body":"you must you should consider"},{"speaker":"Nick Lincoln","startTime":2474.7999999999997,"endTime":2477.74,"body":"multiple I mean, I've had I I've"},{"speaker":"Nick Lincoln","startTime":2474.7999999999997,"endTime":2477.74,"body":"used in house model portfolios"},{"speaker":"Nick Lincoln","startTime":2477.74,"endTime":2482.0899999999997,"body":"since 2008. And I haven't really"},{"speaker":"Nick Lincoln","startTime":2477.74,"endTime":2482.0899999999997,"body":"changed them that their market"},{"speaker":"Nick Lincoln","startTime":2482.0899999999997,"endTime":2485.8399999999997,"body":"cap weighted their passive with"},{"speaker":"Nick Lincoln","startTime":2482.0899999999997,"endTime":2485.8399999999997,"body":"a tilt towards value and small"},{"speaker":"Nick Lincoln","startTime":2485.8399999999997,"endTime":2489.14,"body":"cap. This is not a"},{"speaker":"Nick Lincoln","startTime":2485.8399999999997,"endTime":2489.14,"body":"recommendation audience. And I"},{"speaker":"Nick Lincoln","startTime":2489.14,"endTime":2492.38,"body":"just look at it the thing. And"},{"speaker":"Nick Lincoln","startTime":2489.14,"endTime":2492.38,"body":"also I just played around with"},{"speaker":"Nick Lincoln","startTime":2492.41,"endTime":2494.9,"body":"download this documents from the"},{"speaker":"Nick Lincoln","startTime":2492.41,"endTime":2494.9,"body":"Transact website about this"},{"speaker":"Nick Lincoln","startTime":2494.9,"endTime":2497.3599999999997,"body":"Blackrock NPS service and you've"},{"speaker":"Nick Lincoln","startTime":2494.9,"endTime":2497.3599999999997,"body":"got a listing about agreements,"},{"speaker":"Nick Lincoln","startTime":2497.3599999999997,"endTime":2500.54,"body":"who's the who's the client who's"},{"speaker":"Nick Lincoln","startTime":2497.3599999999997,"endTime":2500.54,"body":"not the client, that it's all"},{"speaker":"Nick Lincoln","startTime":2500.54,"endTime":2502.7,"body":"really thinking, Oh, my God,"},{"speaker":"Nick Lincoln","startTime":2500.54,"endTime":2502.7,"body":"this is getting me back into"},{"speaker":"Nick Lincoln","startTime":2502.7,"endTime":2506.12,"body":"that murky water where I'm now"},{"speaker":"Nick Lincoln","startTime":2502.7,"endTime":2506.12,"body":"dealing with a third party."},{"speaker":"Nick Lincoln","startTime":2506.12,"endTime":2507.17,"body":"Yeah, and I just don't"},{"speaker":"Andy Hart","startTime":2508.759,"endTime":2511.0989999999997,"body":"and, and then let's"},{"speaker":"Andy Hart","startTime":2508.759,"endTime":2511.0989999999997,"body":"say Blackrock decided that they"},{"speaker":"Andy Hart","startTime":2511.0989999999997,"endTime":2512.839,"body":"were going to come out of this"},{"speaker":"Andy Hart","startTime":2511.0989999999997,"endTime":2512.839,"body":"market and I've got to get all"},{"speaker":"Andy Hart","startTime":2512.839,"endTime":2516.6189999999997,"body":"my clients back out of here or"},{"speaker":"Andy Hart","startTime":2512.839,"endTime":2516.6189999999997,"body":"that are then in this situation,"},{"speaker":"Andy Hart","startTime":2516.6189999999997,"endTime":2518.8689999999997,"body":"Blackrock are not going to get"},{"speaker":"Andy Hart","startTime":2516.6189999999997,"endTime":2518.8689999999997,"body":"bought, but let's say as a small"},{"speaker":"Andy Hart","startTime":2518.8689999999997,"endTime":2522.409,"body":"NPS, and then they get bought"},{"speaker":"Andy Hart","startTime":2518.8689999999997,"endTime":2522.409,"body":"and then then my clients and our"},{"speaker":"Andy Hart","startTime":2522.409,"endTime":2525.439,"body":"standard life or something, or"},{"speaker":"Andy Hart","startTime":2522.409,"endTime":2525.439,"body":"any other random company."},{"speaker":"Nick Lincoln","startTime":2526.219,"endTime":2528.019,"body":"That's a really"},{"speaker":"Nick Lincoln","startTime":2526.219,"endTime":2528.019,"body":"good point, because we you know,"},{"speaker":"Nick Lincoln","startTime":2528.019,"endTime":2530.929,"body":"with what was cool was for me"},{"speaker":"Nick Lincoln","startTime":2528.019,"endTime":2530.929,"body":"betta folio, you know, they're"},{"speaker":"Nick Lincoln","startTime":2530.929,"endTime":2533.779,"body":"now competing against BlackRock"},{"speaker":"Nick Lincoln","startTime":2530.929,"endTime":2533.779,"body":"and much as we like the people"},{"speaker":"Nick Lincoln","startTime":2533.779,"endTime":2537.919,"body":"behind betta phone orders now, I"},{"speaker":"Nick Lincoln","startTime":2533.779,"endTime":2537.919,"body":"think timeline portfolio, they"},{"speaker":"Nick Lincoln","startTime":2537.919,"endTime":2542.239,"body":"are not ever going to compete"},{"speaker":"Nick Lincoln","startTime":2537.919,"endTime":2542.239,"body":"ever. With BlackRock, you know,"},{"speaker":"Nick Lincoln","startTime":2542.239,"endTime":2544.519,"body":"Blackrock would say okay, we're"},{"speaker":"Nick Lincoln","startTime":2542.239,"endTime":2544.519,"body":"just we'll we'll reduce our"},{"speaker":"Nick Lincoln","startTime":2544.519,"endTime":2547.3689999999997,"body":"charges down to zero basis"},{"speaker":"Nick Lincoln","startTime":2544.519,"endTime":2547.3689999999997,"body":"points, we'll give it away."},{"speaker":"Nick Lincoln","startTime":2547.399,"endTime":2547.549,"body":"Well,"},{"speaker":"Alan Smith","startTime":2547.5499999999997,"endTime":2550.5499999999997,"body":"it depends upon what"},{"speaker":"Alan Smith","startTime":2547.5499999999997,"endTime":2550.5499999999997,"body":"you are, what the competing, I"},{"speaker":"Alan Smith","startTime":2550.5499999999997,"endTime":2553.67,"body":"don't think that if it's not"},{"speaker":"Alan Smith","startTime":2550.5499999999997,"endTime":2553.67,"body":"just cost, then they'll"},{"speaker":"Carl Widger","startTime":2554.2999999999997,"endTime":2556.88,"body":"just challenge you"},{"speaker":"Carl Widger","startTime":2554.2999999999997,"endTime":2556.88,"body":"on something you said that you"},{"speaker":"Carl Widger","startTime":2556.88,"endTime":2561.89,"body":"don't believe that this adds"},{"speaker":"Carl Widger","startTime":2556.88,"endTime":2561.89,"body":"value this MPs, but you do your"},{"speaker":"Carl Widger","startTime":2561.89,"endTime":2562.4,"body":"own one."},{"speaker":"Nick Lincoln","startTime":2563.24,"endTime":2565.13,"body":"To explain, yeah,"},{"speaker":"Nick Lincoln","startTime":2563.24,"endTime":2565.13,"body":"I saw I do it in house, rather"},{"speaker":"Nick Lincoln","startTime":2565.13,"endTime":2568.19,"body":"than outsource it to a third"},{"speaker":"Nick Lincoln","startTime":2565.13,"endTime":2568.19,"body":"party to do it. For me, it may"},{"speaker":"Nick Lincoln","startTime":2568.19,"endTime":2570.8599999999997,"body":"be different if I was if I was"},{"speaker":"Nick Lincoln","startTime":2568.19,"endTime":2570.8599999999997,"body":"an active fun picker. And I"},{"speaker":"Nick Lincoln","startTime":2570.8599999999997,"endTime":2573.29,"body":"thought there was value there."},{"speaker":"Nick Lincoln","startTime":2570.8599999999997,"endTime":2573.29,"body":"And my portfolios were populated"},{"speaker":"Nick Lincoln","startTime":2573.29,"endTime":2576.74,"body":"with active funds. That involves"},{"speaker":"Nick Lincoln","startTime":2573.29,"endTime":2576.74,"body":"I think, an enormous amount of"},{"speaker":"Nick Lincoln","startTime":2576.74,"endTime":2579.17,"body":"work all the time, just because"},{"speaker":"Nick Lincoln","startTime":2576.74,"endTime":2579.17,"body":"you got to pick the dots up and"},{"speaker":"Nick Lincoln","startTime":2579.17,"endTime":2581.7799999999997,"body":"throw them at that chart having"},{"speaker":"Nick Lincoln","startTime":2579.17,"endTime":2581.7799999999997,"body":"you and hit the top quartile"},{"speaker":"Nick Lincoln","startTime":2581.7799999999997,"endTime":2584.3599999999997,"body":"every time and change the fund"},{"speaker":"Nick Lincoln","startTime":2581.7799999999997,"endTime":2584.3599999999997,"body":"manager. And we're doing that"},{"speaker":"Nick Lincoln","startTime":2584.3599999999997,"endTime":2587.0,"body":"all the time and having"},{"speaker":"Nick Lincoln","startTime":2584.3599999999997,"endTime":2587.0,"body":"investment committees and you"},{"speaker":"Nick Lincoln","startTime":2587.0,"endTime":2589.6099999999997,"body":"know, the kind of stuff that was"},{"speaker":"Nick Lincoln","startTime":2587.0,"endTime":2589.6099999999997,"body":"I'm breaking out in a sweat"},{"speaker":"Nick Lincoln","startTime":2589.6099999999997,"endTime":2592.37,"body":"thinking about it there, I could"},{"speaker":"Nick Lincoln","startTime":2589.6099999999997,"endTime":2592.37,"body":"quite happily in that situation"},{"speaker":"Nick Lincoln","startTime":2592.37,"endTime":2593.0299999999997,"body":"delegate you"},{"speaker":"Carl Widger","startTime":2593.0899999999997,"endTime":2595.37,"body":"do not have to do"},{"speaker":"Carl Widger","startTime":2593.0899999999997,"endTime":2595.37,"body":"do not have to do that for your"},{"speaker":"Carl Widger","startTime":2595.37,"endTime":2597.41,"body":"MPs, your in house MPs strategy?"},{"speaker":"Unknown","startTime":2598.94,"endTime":2599.66,"body":"Not really."},{"speaker":"Nick Lincoln","startTime":2600.17,"endTime":2602.96,"body":"Lips, you pay lip"},{"speaker":"Nick Lincoln","startTime":2600.17,"endTime":2602.96,"body":"service to it once a year. You"},{"speaker":"Nick Lincoln","startTime":2603.29,"endTime":2604.1,"body":"see what"},{"speaker":"Alan Smith","startTime":2605.81,"endTime":2608.66,"body":"I got. But I think"},{"speaker":"Alan Smith","startTime":2605.81,"endTime":2608.66,"body":"this is this is the crux of it."},{"speaker":"Alan Smith","startTime":2608.66,"endTime":2611.66,"body":"Nick, we've you know, we did a"},{"speaker":"Alan Smith","startTime":2608.66,"endTime":2611.66,"body":"set I think we all do a version"},{"speaker":"Alan Smith","startTime":2611.69,"endTime":2614.99,"body":"of the same in house. No, we"},{"speaker":"Alan Smith","startTime":2611.69,"endTime":2614.99,"body":"don't you don't do in the house"},{"speaker":"Alan Smith","startTime":2614.99,"endTime":2619.49,"body":"model portfolios? Well, we use"},{"speaker":"Alan Smith","startTime":2614.99,"endTime":2619.49,"body":"we're world allocation funds,"},{"speaker":"Alan Smith","startTime":2619.52,"endTime":2622.16,"body":"three dimensional models, the"},{"speaker":"Alan Smith","startTime":2619.52,"endTime":2622.16,"body":"Vanguard life strategies, what"},{"speaker":"Alan Smith","startTime":2622.16,"endTime":2622.91,"body":"100%?"},{"speaker":"Nick Lincoln","startTime":2626.81,"endTime":2629.12,"body":"Okay, to justify"},{"speaker":"Nick Lincoln","startTime":2626.81,"endTime":2629.12,"body":"that each year, how do you"},{"speaker":"Nick Lincoln","startTime":2629.12,"endTime":2629.9,"body":"justify that?"},{"speaker":"Carl Widger","startTime":2631.8199999999997,"endTime":2635.3599999999997,"body":"That our belief is"},{"speaker":"Carl Widger","startTime":2631.8199999999997,"endTime":2635.3599999999997,"body":"that, you know, equities are"},{"speaker":"Carl Widger","startTime":2635.3599999999997,"endTime":2639.29,"body":"going to go up over time. So you"},{"speaker":"Carl Widger","startTime":2635.3599999999997,"endTime":2639.29,"body":"basically put in what is"},{"speaker":"Carl Widger","startTime":2639.29,"endTime":2642.47,"body":"required for your, we call it"},{"speaker":"Carl Widger","startTime":2639.29,"endTime":2642.47,"body":"the metas, lifeplan, what"},{"speaker":"Carl Widger","startTime":2642.47,"endTime":2645.0499999999997,"body":"returns are required, let's have"},{"speaker":"Carl Widger","startTime":2642.47,"endTime":2645.0499999999997,"body":"a chat about that. Obviously, we"},{"speaker":"Carl Widger","startTime":2645.0499999999997,"endTime":2647.48,"body":"have to do the risk profiling"},{"speaker":"Carl Widger","startTime":2645.0499999999997,"endTime":2647.48,"body":"and all that kind of stuff. And"},{"speaker":"Carl Widger","startTime":2647.48,"endTime":2650.12,"body":"then we come to an agreement"},{"speaker":"Carl Widger","startTime":2647.48,"endTime":2650.12,"body":"with the client as to what"},{"speaker":"Carl Widger","startTime":2650.33,"endTime":2653.45,"body":"equity bond content should be"},{"speaker":"Carl Widger","startTime":2650.33,"endTime":2653.45,"body":"there. And that's what the"},{"speaker":"Carl Widger","startTime":2653.45,"endTime":2657.77,"body":"clients go into. And we very,"},{"speaker":"Carl Widger","startTime":2653.45,"endTime":2657.77,"body":"very, very seldom, very seldom"},{"speaker":"Carl Widger","startTime":2657.77,"endTime":2659.6,"body":"change it around very, very"},{"speaker":"Carl Widger","startTime":2657.77,"endTime":2659.6,"body":"soon."},{"speaker":"Alan Smith","startTime":2659.63,"endTime":2661.7599999999998,"body":"All right. So that's"},{"speaker":"Alan Smith","startTime":2659.63,"endTime":2661.7599999999998,"body":"quite interesting, because we"},{"speaker":"Alan Smith","startTime":2662.24,"endTime":2665.66,"body":"did the other version of it,"},{"speaker":"Alan Smith","startTime":2662.24,"endTime":2665.66,"body":"where we do it in house. And we"},{"speaker":"Alan Smith","startTime":2665.66,"endTime":2668.27,"body":"do every now and again. And"},{"speaker":"Alan Smith","startTime":2665.66,"endTime":2668.27,"body":"we've been running this 11 years"},{"speaker":"Alan Smith","startTime":2668.27,"endTime":2672.3199999999997,"body":"now this exact process, we've"},{"speaker":"Alan Smith","startTime":2668.27,"endTime":2672.3199999999997,"body":"made maybe two or three funds,"},{"speaker":"Alan Smith","startTime":2672.3199999999997,"endTime":2676.2799999999997,"body":"which is the entire time and"},{"speaker":"Alan Smith","startTime":2672.3199999999997,"endTime":2676.2799999999997,"body":"they were mainly because kind of"},{"speaker":"Alan Smith","startTime":2676.2799999999997,"endTime":2678.89,"body":"the products that we wanted"},{"speaker":"Alan Smith","startTime":2676.2799999999997,"endTime":2678.89,"body":"early on didn't exist. And then"},{"speaker":"Alan Smith","startTime":2678.92,"endTime":2680.8399999999997,"body":"new things come to the markets,"},{"speaker":"Alan Smith","startTime":2678.92,"endTime":2680.8399999999997,"body":"we think this is actually a"},{"speaker":"Alan Smith","startTime":2680.8399999999997,"endTime":2684.0499999999997,"body":"better version of what we've"},{"speaker":"Alan Smith","startTime":2680.8399999999997,"endTime":2684.0499999999997,"body":"currently got. But we don't have"},{"speaker":"Alan Smith","startTime":2684.0499999999997,"endTime":2687.17,"body":"discretionary permissions never"},{"speaker":"Alan Smith","startTime":2684.0499999999997,"endTime":2687.17,"body":"really felt the value or wanted"},{"speaker":"Alan Smith","startTime":2687.2,"endTime":2690.83,"body":"to do. So therefore, it's a"},{"speaker":"Alan Smith","startTime":2687.2,"endTime":2690.83,"body":"pain. And you have got capital"},{"speaker":"Alan Smith","startTime":2690.83,"endTime":2693.74,"body":"gains tax issues, and you have"},{"speaker":"Alan Smith","startTime":2690.83,"endTime":2693.74,"body":"got admin issues, and you've got"},{"speaker":"Alan Smith","startTime":2693.74,"endTime":2697.4,"body":"the error risk and all that sort"},{"speaker":"Alan Smith","startTime":2693.74,"endTime":2697.4,"body":"of stuff. And to some degree,"},{"speaker":"Alan Smith","startTime":2697.91,"endTime":2701.2999999999997,"body":"it'd be better just outsource"},{"speaker":"Alan Smith","startTime":2697.91,"endTime":2701.2999999999997,"body":"all that to someone else. Like"},{"speaker":"Alan Smith","startTime":2701.33,"endTime":2703.64,"body":"like what you're doing. Oh, just"},{"speaker":"Alan Smith","startTime":2701.33,"endTime":2703.64,"body":"just embrace"},{"speaker":"Carl Widger","startTime":2703.64,"endTime":2708.08,"body":"Yeah, and look, I"},{"speaker":"Carl Widger","startTime":2703.64,"endTime":2708.08,"body":"firmly believe that the value we"},{"speaker":"Carl Widger","startTime":2708.08,"endTime":2712.5499999999997,"body":"add is through the financial"},{"speaker":"Carl Widger","startTime":2708.08,"endTime":2712.5499999999997,"body":"planning. And it's through a"},{"speaker":"Carl Widger","startTime":2712.5499999999997,"endTime":2715.79,"body":"hate the words coaching or"},{"speaker":"Carl Widger","startTime":2712.5499999999997,"endTime":2715.79,"body":"behavior coaching or whatever,"},{"speaker":"Carl Widger","startTime":2715.79,"endTime":2718.67,"body":"but it's, it's just keeping the"},{"speaker":"Carl Widger","startTime":2715.79,"endTime":2718.67,"body":"client in their seat. I don't"},{"speaker":"Carl Widger","startTime":2718.67,"endTime":2723.08,"body":"believe that there's huge value"},{"speaker":"Carl Widger","startTime":2718.67,"endTime":2723.08,"body":"add in switching a fund here or"},{"speaker":"Carl Widger","startTime":2723.08,"endTime":2727.5499999999997,"body":"switching on there. So"},{"speaker":"Carl Widger","startTime":2723.08,"endTime":2727.5499999999997,"body":"therefore, our ambition, our"},{"speaker":"Carl Widger","startTime":2727.5499999999997,"endTime":2732.38,"body":"task to ourselves was always how"},{"speaker":"Carl Widger","startTime":2727.5499999999997,"endTime":2732.38,"body":"do we keep this as simple as"},{"speaker":"Carl Widger","startTime":2732.38,"endTime":2736.1,"body":"possible so that number one, we"},{"speaker":"Carl Widger","startTime":2732.38,"endTime":2736.1,"body":"understand it ourselves. We can"},{"speaker":"Carl Widger","startTime":2736.1,"endTime":2740.48,"body":"explain it ourselves and that"},{"speaker":"Carl Widger","startTime":2736.1,"endTime":2740.48,"body":"the clients understand it and"},{"speaker":"Carl Widger","startTime":2740.5099999999998,"endTime":2744.56,"body":"they're comfortable with it."},{"speaker":"Carl Widger","startTime":2740.5099999999998,"endTime":2744.56,"body":"Like how often do I break out a"},{"speaker":"Carl Widger","startTime":2744.56,"endTime":2748.79,"body":"fun fact sheet I'll be honest"},{"speaker":"Carl Widger","startTime":2744.56,"endTime":2748.79,"body":"and say I don't think I have"},{"speaker":"Carl Widger","startTime":2748.8199999999997,"endTime":2752.72,"body":"broken out a fun fact sheet for"},{"speaker":"Carl Widger","startTime":2748.8199999999997,"endTime":2752.72,"body":"at least 12 months. Now I'm sure"},{"speaker":"Carl Widger","startTime":2752.72,"endTime":2754.8199999999997,"body":"my colleagues in the"},{"speaker":"Carl Widger","startTime":2752.72,"endTime":2754.8199999999997,"body":"organization have done right but"},{"speaker":"Carl Widger","startTime":2754.8199999999997,"endTime":2764.93,"body":"I haven't so that's how little"},{"speaker":"Carl Widger","startTime":2754.8199999999997,"endTime":2764.93,"body":"pay specific attention to you"},{"speaker":"Carl Widger","startTime":2764.93,"endTime":2767.87,"body":"know, to the fund piece,"},{"speaker":"Carl Widger","startTime":2764.93,"endTime":2767.87,"body":"obviously we got to keep an eye"},{"speaker":"Carl Widger","startTime":2767.87,"endTime":2771.5,"body":"on it. Obviously when funds or"},{"speaker":"Carl Widger","startTime":2767.87,"endTime":2771.5,"body":"when stock markets are having a"},{"speaker":"Carl Widger","startTime":2771.5,"endTime":2774.65,"body":"bit of a blip like they are no I"},{"speaker":"Carl Widger","startTime":2771.5,"endTime":2774.65,"body":"will put out stuff we will do a"},{"speaker":"Carl Widger","startTime":2774.65,"endTime":2777.62,"body":"newsletter, but it's simplicity"},{"speaker":"Carl Widger","startTime":2774.65,"endTime":2777.62,"body":"is the key for me."},{"speaker":"Nick Lincoln","startTime":2777.89,"endTime":2779.69,"body":"Okay. The you"},{"speaker":"Nick Lincoln","startTime":2777.89,"endTime":2779.69,"body":"you're gonna make a point, Andy,"},{"speaker":"Nick Lincoln","startTime":2779.69,"endTime":2780.23,"body":"I think"},{"speaker":"Andy Hart","startTime":2782.899,"endTime":2785.779,"body":"I don't know how"},{"speaker":"Andy Hart","startTime":2782.899,"endTime":2785.779,"body":"similar they are NPS is with"},{"speaker":"Andy Hart","startTime":2785.779,"endTime":2790.159,"body":"temps in America, the temps in"},{"speaker":"Andy Hart","startTime":2785.779,"endTime":2790.159,"body":"America stands for turnkey Asset"},{"speaker":"Andy Hart","startTime":2790.159,"endTime":2794.8689999999997,"body":"Management Program. So I think"},{"speaker":"Andy Hart","startTime":2790.159,"endTime":2794.8689999999997,"body":"they're big in the US again, I"},{"speaker":"Andy Hart","startTime":2794.8689999999997,"endTime":2797.659,"body":"don't know, maybe it's their tax"},{"speaker":"Andy Hart","startTime":2794.8689999999997,"endTime":2797.659,"body":"harvest things a bit more"},{"speaker":"Andy Hart","startTime":2797.659,"endTime":2801.8289999999997,"body":"complicated than ours. But yeah,"},{"speaker":"Andy Hart","startTime":2797.659,"endTime":2801.8289999999997,"body":"these MBS is our tamper"},{"speaker":"Andy Hart","startTime":2801.8289999999997,"endTime":2805.759,"body":"equivalence, I believe. I think"},{"speaker":"Andy Hart","startTime":2801.8289999999997,"endTime":2805.759,"body":"there's going to be a few more"},{"speaker":"Andy Hart","startTime":2805.759,"endTime":2807.499,"body":"that's going to be launched in"},{"speaker":"Andy Hart","startTime":2805.759,"endTime":2807.499,"body":"the UK at the moment, I can"},{"speaker":"Andy Hart","startTime":2807.499,"endTime":2809.749,"body":"think of three but there must be"},{"speaker":"Andy Hart","startTime":2807.499,"endTime":2809.749,"body":"a lot more."},{"speaker":"Alan Smith","startTime":2811.969,"endTime":2814.3689999999997,"body":"Right? If it's what"},{"speaker":"Alan Smith","startTime":2811.969,"endTime":2814.3689999999997,"body":"I understand it to be this"},{"speaker":"Alan Smith","startTime":2814.3689999999997,"endTime":2817.009,"body":"doesn't solve them been around"},{"speaker":"Alan Smith","startTime":2814.3689999999997,"endTime":2817.009,"body":"forever, you know, it's the"},{"speaker":"Alan Smith","startTime":2817.8489999999997,"endTime":2819.979,"body":"would you call it standard life"},{"speaker":"Alan Smith","startTime":2817.8489999999997,"endTime":2819.979,"body":"have got their head, they're"},{"speaker":"Alan Smith","startTime":2820.069,"endTime":2822.169,"body":"coming with a cold now, but"},{"speaker":"Alan Smith","startTime":2820.069,"endTime":2822.169,"body":"there's loads can a model"},{"speaker":"Alan Smith","startTime":2822.169,"endTime":2825.6189999999997,"body":"portfolios, somebody used to"},{"speaker":"Alan Smith","startTime":2822.169,"endTime":2825.6189999999997,"body":"call them they used to call them"},{"speaker":"Alan Smith","startTime":2825.6189999999997,"endTime":2828.019,"body":"fettered or unfettered, some"},{"speaker":"Alan Smith","startTime":2825.6189999999997,"endTime":2828.019,"body":"would have all their own in"},{"speaker":"Alan Smith","startTime":2828.019,"endTime":2830.239,"body":"house funds, some would have a"},{"speaker":"Alan Smith","startTime":2828.019,"endTime":2830.239,"body":"bunch of external funds, but"},{"speaker":"Alan Smith","startTime":2830.659,"endTime":2833.239,"body":"your age aren't you had a bit of"},{"speaker":"Alan Smith","startTime":2830.659,"endTime":2833.239,"body":"write, yeah, they've been around"},{"speaker":"Alan Smith","startTime":2833.239,"endTime":2836.359,"body":"forever, it doesn't seem like a"},{"speaker":"Alan Smith","startTime":2833.239,"endTime":2836.359,"body":"massive new thing that's coming"},{"speaker":"Alan Smith","startTime":2836.359,"endTime":2836.5989999999997,"body":"in,"},{"speaker":"Nick Lincoln","startTime":2836.69,"endTime":2837.68,"body":"I need to get a"},{"speaker":"Nick Lincoln","startTime":2836.69,"endTime":2837.68,"body":"wheel we"},{"speaker":"Carl Widger","startTime":2840.8599999999997,"endTime":2844.13,"body":"know, we have to,"},{"speaker":"Carl Widger","startTime":2840.8599999999997,"endTime":2844.13,"body":"we still have to use some of"},{"speaker":"Carl Widger","startTime":2844.13,"endTime":2847.1,"body":"those funds here for various"},{"speaker":"Carl Widger","startTime":2844.13,"endTime":2847.1,"body":"reasons for contract reasons for"},{"speaker":"Carl Widger","startTime":2847.1,"endTime":2852.56,"body":"pensions, or whatever. So we're"},{"speaker":"Carl Widger","startTime":2847.1,"endTime":2852.56,"body":"still using those. And at least"},{"speaker":"Carl Widger","startTime":2852.5899999999997,"endTime":2855.08,"body":"they've developed so that some"},{"speaker":"Carl Widger","startTime":2852.5899999999997,"endTime":2855.08,"body":"of them are kind of just passive"},{"speaker":"Carl Widger","startTime":2855.08,"endTime":2859.0699999999997,"body":"strategies. But yeah, they're"},{"speaker":"Carl Widger","startTime":2855.08,"endTime":2859.0699999999997,"body":"still, they're still a"},{"speaker":"Carl Widger","startTime":2859.0699999999997,"endTime":2862.0699999999997,"body":"significant thing. And a very"},{"speaker":"Carl Widger","startTime":2859.0699999999997,"endTime":2862.0699999999997,"body":"significant thing in the Irish"},{"speaker":"Carl Widger","startTime":2862.0699999999997,"endTime":2862.46,"body":"market, I"},{"speaker":"Alan Smith","startTime":2862.46,"endTime":2867.17,"body":"would say, it's"},{"speaker":"Alan Smith","startTime":2862.46,"endTime":2867.17,"body":"there to solve a problem by many"},{"speaker":"Alan Smith","startTime":2867.5299999999997,"endTime":2871.6099999999997,"body":"advisors, which is running your"},{"speaker":"Alan Smith","startTime":2867.5299999999997,"endTime":2871.6099999999997,"body":"own investments in house is"},{"speaker":"Alan Smith","startTime":2871.64,"endTime":2876.2,"body":"difficult. And as Carlos Reddy"},{"speaker":"Alan Smith","startTime":2871.64,"endTime":2876.2,"body":"said, over time we vote, we're"},{"speaker":"Alan Smith","startTime":2876.2,"endTime":2879.41,"body":"all recognizing that it's the"},{"speaker":"Alan Smith","startTime":2876.2,"endTime":2879.41,"body":"less important part of what we"},{"speaker":"Alan Smith","startTime":2879.41,"endTime":2883.31,"body":"do. So you're trying to simplify"},{"speaker":"Alan Smith","startTime":2879.41,"endTime":2883.31,"body":"it, keep your costs down, keep"},{"speaker":"Alan Smith","startTime":2883.31,"endTime":2886.25,"body":"your efficiencies up, and it"},{"speaker":"Alan Smith","startTime":2883.31,"endTime":2886.25,"body":"seems, so that's why there's"},{"speaker":"Alan Smith","startTime":2886.2799999999997,"endTime":2887.45,"body":"they're being created."},{"speaker":"Andy Hart","startTime":2888.2,"endTime":2891.56,"body":"But clients and"},{"speaker":"Andy Hart","startTime":2888.2,"endTime":2891.56,"body":"certainly new clients, often"},{"speaker":"Andy Hart","startTime":2891.56,"endTime":2895.46,"body":"deem it incredibly important. So"},{"speaker":"Andy Hart","startTime":2891.56,"endTime":2895.46,"body":"we have to straddle that quite"},{"speaker":"Andy Hart","startTime":2895.52,"endTime":2900.08,"body":"well, that's, that's a whole"},{"speaker":"Andy Hart","startTime":2895.52,"endTime":2900.08,"body":"other area I over the years have"},{"speaker":"Andy Hart","startTime":2900.08,"endTime":2902.39,"body":"been like, don't worry about the"},{"speaker":"Andy Hart","startTime":2900.08,"endTime":2902.39,"body":"investments or sort them out."},{"speaker":"Andy Hart","startTime":2902.39,"endTime":2904.5499999999997,"body":"That's the easy part. That's the"},{"speaker":"Andy Hart","startTime":2902.39,"endTime":2904.5499999999997,"body":"plumbing, don't worry about"},{"speaker":"Andy Hart","startTime":2904.5499999999997,"endTime":2907.43,"body":"that. We can do that in our"},{"speaker":"Andy Hart","startTime":2904.5499999999997,"endTime":2907.43,"body":"sleep. And sometimes you lose"},{"speaker":"Andy Hart","startTime":2907.43,"endTime":2912.5299999999997,"body":"clients over that. So now it's a"},{"speaker":"Andy Hart","startTime":2907.43,"endTime":2912.5299999999997,"body":"bit more just on that call. We"},{"speaker":"Andy Hart","startTime":2912.5299999999997,"endTime":2914.63,"body":"had this whole thing about you"},{"speaker":"Andy Hart","startTime":2912.5299999999997,"endTime":2914.63,"body":"know, changing our names,"},{"speaker":"Andy Hart","startTime":2914.66,"endTime":2918.44,"body":"financial advisors, financial"},{"speaker":"Andy Hart","startTime":2914.66,"endTime":2918.44,"body":"planners, it just confusing for"},{"speaker":"Andy Hart","startTime":2918.44,"endTime":2920.93,"body":"clients. I was I was thinking of"},{"speaker":"Andy Hart","startTime":2918.44,"endTime":2920.93,"body":"just to call myself an"},{"speaker":"Andy Hart","startTime":2920.93,"endTime":2923.18,"body":"investment advisor, you know,"},{"speaker":"Andy Hart","startTime":2920.93,"endTime":2923.18,"body":"that's what people are seeking."},{"speaker":"Andy Hart","startTime":2923.18,"endTime":2925.0099999999998,"body":"They're seeking investment"},{"speaker":"Andy Hart","startTime":2923.18,"endTime":2925.0099999999998,"body":"advisors. And then obviously,"},{"speaker":"Andy Hart","startTime":2925.2799999999997,"endTime":2927.83,"body":"we'll do the financial planning,"},{"speaker":"Andy Hart","startTime":2925.2799999999997,"endTime":2927.83,"body":"but do this stuff. Well, you"},{"speaker":"Andy Hart","startTime":2927.83,"endTime":2930.56,"body":"know, it's going full circle."},{"speaker":"Andy Hart","startTime":2927.83,"endTime":2930.56,"body":"Yeah, the financial planner, I"},{"speaker":"Andy Hart","startTime":2930.56,"endTime":2933.41,"body":"don't want to finance. I need to"},{"speaker":"Andy Hart","startTime":2930.56,"endTime":2933.41,"body":"invest it."},{"speaker":"Nick Lincoln","startTime":2933.56,"endTime":2936.71,"body":"I'm Andy Hart"},{"speaker":"Nick Lincoln","startTime":2933.56,"endTime":2936.71,"body":"investment advisor. Okay, can"},{"speaker":"Nick Lincoln","startTime":2936.71,"endTime":2940.94,"body":"you give me some best advice?"},{"speaker":"Nick Lincoln","startTime":2936.71,"endTime":2940.94,"body":"No, it's not important. I know."},{"speaker":"Nick Lincoln","startTime":2941.69,"endTime":2944.0899999999997,"body":"You're spot on. You're"},{"speaker":"Nick Lincoln","startTime":2941.69,"endTime":2944.0899999999997,"body":"absolutely right. But if"},{"speaker":"Carl Widger","startTime":2944.089,"endTime":2945.859,"body":"you're already"},{"speaker":"Carl Widger","startTime":2944.089,"endTime":2945.859,"body":"somewhere, some people say what"},{"speaker":"Carl Widger","startTime":2945.859,"endTime":2947.659,"body":"do you do? And you go, I'm a"},{"speaker":"Carl Widger","startTime":2945.859,"endTime":2947.659,"body":"financial planner, and they look"},{"speaker":"Carl Widger","startTime":2947.659,"endTime":2952.549,"body":"at you like your foreheads."},{"speaker":"Carl Widger","startTime":2947.659,"endTime":2952.549,"body":"Yeah, for sure. I have, you"},{"speaker":"Alan Smith","startTime":2952.549,"endTime":2954.649,"body":"know, call Do you"},{"speaker":"Alan Smith","startTime":2952.549,"endTime":2954.649,"body":"just mentioned that you haven't"},{"speaker":"Alan Smith","startTime":2954.649,"endTime":2957.169,"body":"got he hadn't had fun fact sheet"},{"speaker":"Alan Smith","startTime":2954.649,"endTime":2957.169,"body":"out for a year and all that sort"},{"speaker":"Alan Smith","startTime":2957.169,"endTime":2960.709,"body":"of stuff that all I would say to"},{"speaker":"Alan Smith","startTime":2957.169,"endTime":2960.709,"body":"you be aware of personal biases,"},{"speaker":"Alan Smith","startTime":2960.709,"endTime":2963.589,"body":"because we are in the game. And"},{"speaker":"Alan Smith","startTime":2960.709,"endTime":2963.589,"body":"this is what we believe. And the"},{"speaker":"Alan Smith","startTime":2963.589,"endTime":2966.739,"body":"reason I say that, is because we"},{"speaker":"Alan Smith","startTime":2963.589,"endTime":2966.739,"body":"did a client survey. But uh,"},{"speaker":"Alan Smith","startTime":2966.739,"endTime":2970.009,"body":"yeah, very, very fair point. But"},{"speaker":"Alan Smith","startTime":2966.739,"endTime":2970.009,"body":"we did a survey and we and we"},{"speaker":"Alan Smith","startTime":2970.009,"endTime":2972.8289999999997,"body":"said, we were just trying to,"},{"speaker":"Alan Smith","startTime":2970.009,"endTime":2972.8289999999997,"body":"you know, up our game on the"},{"speaker":"Alan Smith","startTime":2972.8289999999997,"endTime":2974.8689999999997,"body":"client meetings and annual"},{"speaker":"Alan Smith","startTime":2972.8289999999997,"endTime":2974.8689999999997,"body":"planning meetings, and so on, we"},{"speaker":"Alan Smith","startTime":2974.8689999999997,"endTime":2978.5589999999997,"body":"asked all our clients in on an"},{"speaker":"Alan Smith","startTime":2974.8689999999997,"endTime":2978.5589999999997,"body":"anonymous survey, what would you"},{"speaker":"Alan Smith","startTime":2978.5589999999997,"endTime":2981.169,"body":"like to hear more of what would"},{"speaker":"Alan Smith","startTime":2978.5589999999997,"endTime":2981.169,"body":"you like to hear less from me,"},{"speaker":"Alan Smith","startTime":2981.199,"endTime":2984.469,"body":"and it was a significant number"},{"speaker":"Alan Smith","startTime":2981.199,"endTime":2984.469,"body":"of our clients said, I'd like to"},{"speaker":"Alan Smith","startTime":2984.469,"endTime":2987.469,"body":"talk more about my investments,"},{"speaker":"Alan Smith","startTime":2984.469,"endTime":2987.469,"body":"because we'd have meetings, we'd"},{"speaker":"Alan Smith","startTime":2987.469,"endTime":2989.749,"body":"talk about everything, but"},{"speaker":"Alan Smith","startTime":2987.469,"endTime":2989.749,"body":"investments, that's fine. As"},{"speaker":"Alan Smith","startTime":2989.749,"endTime":2993.019,"body":"long as you're on track, you're"},{"speaker":"Alan Smith","startTime":2989.749,"endTime":2993.019,"body":"under control. People say, Well,"},{"speaker":"Alan Smith","startTime":2993.319,"endTime":2995.839,"body":"I'd like to know just a bit"},{"speaker":"Alan Smith","startTime":2993.319,"endTime":2995.839,"body":"more. And so we've really upped"},{"speaker":"Alan Smith","startTime":2995.839,"endTime":2998.5389999999998,"body":"our game. And we it's an"},{"speaker":"Alan Smith","startTime":2995.839,"endTime":2998.5389999999998,"body":"important part of our client"},{"speaker":"Alan Smith","startTime":2998.5389999999998,"endTime":2998.929,"body":"meetings"},{"speaker":"Carl Widger","startTime":2998.93,"endTime":3001.93,"body":"Ginola here. So"},{"speaker":"Carl Widger","startTime":2998.93,"endTime":3001.93,"body":"you're so right, we've, we've"},{"speaker":"Carl Widger","startTime":3001.93,"endTime":3004.0,"body":"had client advisory panels I"},{"speaker":"Carl Widger","startTime":3001.93,"endTime":3004.0,"body":"told you about last the last"},{"speaker":"Carl Widger","startTime":3004.0,"endTime":3007.2999999999997,"body":"time. And one of the guys that"},{"speaker":"Carl Widger","startTime":3004.0,"endTime":3007.2999999999997,"body":"asked me for coffee, and he"},{"speaker":"Carl Widger","startTime":3007.2999999999997,"endTime":3010.9,"body":"said, Okay, I get it all, I get"},{"speaker":"Carl Widger","startTime":3007.2999999999997,"endTime":3010.9,"body":"all the fluffy stuff courtesy"},{"speaker":"Carl Widger","startTime":3010.9,"endTime":3014.5899999999997,"body":"call. But I want to know how my"},{"speaker":"Carl Widger","startTime":3010.9,"endTime":3014.5899999999997,"body":"investment is going. I want to"},{"speaker":"Carl Widger","startTime":3014.5899999999997,"endTime":3017.47,"body":"know how it's going versus the"},{"speaker":"Carl Widger","startTime":3014.5899999999997,"endTime":3017.47,"body":"market and whatever. So as a"},{"speaker":"Carl Widger","startTime":3017.47,"endTime":3021.13,"body":"result, we have a we have a"},{"speaker":"Carl Widger","startTime":3017.47,"endTime":3021.13,"body":"project going on in q4, which is"},{"speaker":"Carl Widger","startTime":3021.13,"endTime":3024.67,"body":"why the client journey is going"},{"speaker":"Carl Widger","startTime":3021.13,"endTime":3024.67,"body":"to q1 next year. And that's to"},{"speaker":"Carl Widger","startTime":3024.67,"endTime":3027.7,"body":"put out an investment"},{"speaker":"Carl Widger","startTime":3024.67,"endTime":3027.7,"body":"newsletter. So we're going to do"},{"speaker":"Carl Widger","startTime":3027.7,"endTime":3031.3599999999997,"body":"that twice a year. I actually"},{"speaker":"Carl Widger","startTime":3027.7,"endTime":3031.3599999999997,"body":"don't know how that project is"},{"speaker":"Carl Widger","startTime":3031.3599999999997,"endTime":3033.6099999999997,"body":"going, but I know when they"},{"speaker":"Carl Widger","startTime":3031.3599999999997,"endTime":3033.6099999999997,"body":"listen to this, they're gonna"},{"speaker":"Carl Widger","startTime":3033.6099999999997,"endTime":3037.99,"body":"get their ass in gear and that"},{"speaker":"Carl Widger","startTime":3033.6099999999997,"endTime":3037.99,"body":"will be launched in q4. So yeah,"},{"speaker":"Carl Widger","startTime":3037.99,"endTime":3040.8399999999997,"body":"you're totally right, Ireland."},{"speaker":"Carl Widger","startTime":3037.99,"endTime":3040.8399999999997,"body":"Absolutely. 100% take that on"},{"speaker":"Carl Widger","startTime":3040.8399999999997,"endTime":3041.98,"body":"board. Yep. Thank you."},{"speaker":"Nick Lincoln","startTime":3043.21,"endTime":3045.73,"body":"Okay, that's"},{"speaker":"Nick Lincoln","startTime":3043.21,"endTime":3045.73,"body":"great. Listen, guys. We're at"},{"speaker":"Nick Lincoln","startTime":3045.73,"endTime":3049.72,"body":"the 50 minute mark already so"},{"speaker":"Nick Lincoln","startTime":3045.73,"endTime":3049.72,"body":"I'm suggesting that we segue to"},{"speaker":"Nick Lincoln","startTime":3049.72,"endTime":3051.52,"body":"the culture corner if that's"},{"speaker":"Nick Lincoln","startTime":3049.72,"endTime":3051.52,"body":"okay with you"},{"speaker":"Nick Lincoln","startTime":3056.62,"endTime":3061.0899999999997,"body":"okay, culture corner here we"},{"speaker":"Nick Lincoln","startTime":3056.62,"endTime":3061.0899999999997,"body":"are. I will go first and then"},{"speaker":"Nick Lincoln","startTime":3061.0899999999997,"endTime":3064.12,"body":"Mr. Smithson things and then"},{"speaker":"Nick Lincoln","startTime":3061.0899999999997,"endTime":3064.12,"body":"he's got something so a podcast"},{"speaker":"Nick Lincoln","startTime":3064.12,"endTime":3066.7,"body":"recommendation is called the"},{"speaker":"Nick Lincoln","startTime":3064.12,"endTime":3066.7,"body":"modern wisdom podcast by a guy"},{"speaker":"Nick Lincoln","startTime":3066.7,"endTime":3071.5299999999997,"body":"called Chris Williamson. Like"},{"speaker":"Nick Lincoln","startTime":3066.7,"endTime":3071.5299999999997,"body":"all podcasts, you have to be a"},{"speaker":"Nick Lincoln","startTime":3071.5299999999997,"endTime":3073.75,"body":"little bit picky and we're not"},{"speaker":"Nick Lincoln","startTime":3071.5299999999997,"endTime":3073.75,"body":"like this one. You should listen"},{"speaker":"Nick Lincoln","startTime":3073.75,"endTime":3076.45,"body":"to every one of the trap but"},{"speaker":"Nick Lincoln","startTime":3073.75,"endTime":3076.45,"body":"mine was my pocket. She kind of"},{"speaker":"Nick Lincoln","startTime":3076.45,"endTime":3078.79,"body":"dip in and out to it. But I"},{"speaker":"Nick Lincoln","startTime":3076.45,"endTime":3078.79,"body":"listened to most of the episodes"},{"speaker":"Nick Lincoln","startTime":3078.79,"endTime":3081.0699999999997,"body":"really interesting guy, British"},{"speaker":"Nick Lincoln","startTime":3078.79,"endTime":3081.0699999999997,"body":"guy. So it's a British voice,"},{"speaker":"Nick Lincoln","startTime":3081.0699999999997,"endTime":3083.3199999999997,"body":"which is quite nice to hear"},{"speaker":"Nick Lincoln","startTime":3081.0699999999997,"endTime":3083.3199999999997,"body":"through your headphones, as"},{"speaker":"Nick Lincoln","startTime":3083.3199999999997,"endTime":3087.3399999999997,"body":"opposed to another American"},{"speaker":"Nick Lincoln","startTime":3083.3199999999997,"endTime":3087.3399999999997,"body":"episode 529 They do a life hack"},{"speaker":"Nick Lincoln","startTime":3087.3399999999997,"endTime":3089.56,"body":"episode now and again, where"},{"speaker":"Nick Lincoln","startTime":3087.3399999999997,"endTime":3089.56,"body":"they just him and a couple of"},{"speaker":"Nick Lincoln","startTime":3089.56,"endTime":3092.44,"body":"friends just throw out ideas"},{"speaker":"Nick Lincoln","startTime":3089.56,"endTime":3092.44,"body":"about just make make your life"},{"speaker":"Nick Lincoln","startTime":3092.44,"endTime":3095.02,"body":"more efficient. And he said a"},{"speaker":"Nick Lincoln","startTime":3092.44,"endTime":3095.02,"body":"very simple one is to say to"},{"speaker":"Nick Lincoln","startTime":3095.02,"endTime":3097.0,"body":"your I won't say it out loud"},{"speaker":"Nick Lincoln","startTime":3095.02,"endTime":3097.0,"body":"because everyone's machine will"},{"speaker":"Nick Lincoln","startTime":3097.0,"endTime":3101.83,"body":"start blinking but say to S I"},{"speaker":"Nick Lincoln","startTime":3097.0,"endTime":3101.83,"body":"play coffee, cafe, jazz,"},{"speaker":"Nick Lincoln","startTime":3101.83,"endTime":3105.13,"body":"relaxing background sounds for"},{"speaker":"Nick Lincoln","startTime":3101.83,"endTime":3105.13,"body":"concentration. And I tried it"},{"speaker":"Nick Lincoln","startTime":3105.13,"endTime":3108.64,"body":"and it really is quite nice. So"},{"speaker":"Nick Lincoln","startTime":3105.13,"endTime":3108.64,"body":"it's jazz music, but you get"},{"speaker":"Nick Lincoln","startTime":3108.7,"endTime":3111.5499999999997,"body":"sort of bustle of a coffee shop"},{"speaker":"Nick Lincoln","startTime":3108.7,"endTime":3111.5499999999997,"body":"in the background, you can hear"},{"speaker":"Nick Lincoln","startTime":3111.5499999999997,"endTime":3113.5899999999997,"body":"the coffee being made you hit"},{"speaker":"Nick Lincoln","startTime":3111.5499999999997,"endTime":3113.5899999999997,"body":"background chatter, it's all"},{"speaker":"Nick Lincoln","startTime":3113.5899999999997,"endTime":3116.41,"body":"very low key and if you work on"},{"speaker":"Nick Lincoln","startTime":3113.5899999999997,"endTime":3116.41,"body":"your own, it just makes you my"},{"speaker":"Nick Lincoln","startTime":3116.41,"endTime":3118.72,"body":"simple brain is then triggered"},{"speaker":"Nick Lincoln","startTime":3116.41,"endTime":3118.72,"body":"to think I'm with other people"},{"speaker":"Nick Lincoln","startTime":3118.75,"endTime":3121.6,"body":"and it's quite relaxing and it"},{"speaker":"Nick Lincoln","startTime":3118.75,"endTime":3121.6,"body":"does kind of does kind of work"},{"speaker":"Nick Lincoln","startTime":3121.6,"endTime":3125.62,"body":"so there's my there's my little"},{"speaker":"Nick Lincoln","startTime":3121.6,"endTime":3125.62,"body":"tip the modern wisdom podcast by"},{"speaker":"Nick Lincoln","startTime":3125.62,"endTime":3130.96,"body":"Chris Williamson. Mr. Smith, you"},{"speaker":"Nick Lincoln","startTime":3125.62,"endTime":3130.96,"body":"have a 85 items on your culture"},{"speaker":"Nick Lincoln","startTime":3130.96,"endTime":3131.62,"body":"corner list."},{"speaker":"Alan Smith","startTime":3133.509,"endTime":3135.729,"body":"I'll just I will"},{"speaker":"Alan Smith","startTime":3133.509,"endTime":3135.729,"body":"rattle through them quickly."},{"speaker":"Alan Smith","startTime":3136.929,"endTime":3140.649,"body":"Similar in terms of a podcast,"},{"speaker":"Alan Smith","startTime":3136.929,"endTime":3140.649,"body":"we will probably cuz which is"},{"speaker":"Alan Smith","startTime":3140.649,"endTime":3143.649,"body":"why we're doing this we consume"},{"speaker":"Alan Smith","startTime":3140.649,"endTime":3143.649,"body":"a fair amount of podcasts and"},{"speaker":"Alan Smith","startTime":3143.679,"endTime":3146.379,"body":"and I've always for years and"},{"speaker":"Alan Smith","startTime":3143.679,"endTime":3146.379,"body":"years, listen to Tim Ferriss,"},{"speaker":"Alan Smith","startTime":3146.439,"endTime":3148.929,"body":"they are a bit hit and miss some"},{"speaker":"Alan Smith","startTime":3146.439,"endTime":3148.929,"body":"are more interested in the"},{"speaker":"Alan Smith","startTime":3148.929,"endTime":3153.129,"body":"others, but a very recent one,"},{"speaker":"Alan Smith","startTime":3148.929,"endTime":3153.129,"body":"episode 618, a guy called Rolf"},{"speaker":"Alan Smith","startTime":3153.159,"endTime":3157.1189999999997,"body":"Botha, as you may be able to"},{"speaker":"Alan Smith","startTime":3153.159,"endTime":3157.1189999999997,"body":"detect is a South African but of"},{"speaker":"Alan Smith","startTime":3157.1189999999997,"endTime":3159.879,"body":"course, he's newly sconce in"},{"speaker":"Alan Smith","startTime":3157.1189999999997,"endTime":3159.879,"body":"Silicon Valley, or has been"},{"speaker":"Alan Smith","startTime":3159.879,"endTime":3163.029,"body":"there for many, many years. This"},{"speaker":"Alan Smith","startTime":3159.879,"endTime":3163.029,"body":"is one of these podcasts you"},{"speaker":"Alan Smith","startTime":3163.029,"endTime":3166.3889999999997,"body":"listen to and you actually feel"},{"speaker":"Alan Smith","startTime":3163.029,"endTime":3166.3889999999997,"body":"your own IQ increasing by two or"},{"speaker":"Alan Smith","startTime":3166.3889999999997,"endTime":3169.0589999999997,"body":"three points just by listening"},{"speaker":"Alan Smith","startTime":3166.3889999999997,"endTime":3169.0589999999997,"body":"to it one of the smartest people"},{"speaker":"Alan Smith","startTime":3169.0589999999997,"endTime":3171.279,"body":"I've ever heard in terms of this"},{"speaker":"Alan Smith","startTime":3169.0589999999997,"endTime":3171.279,"body":"interview, he's he was one of"},{"speaker":"Alan Smith","startTime":3171.279,"endTime":3174.009,"body":"the original PayPal Mafia, if"},{"speaker":"Alan Smith","startTime":3171.279,"endTime":3174.009,"body":"you know with Elon, a bunch of"},{"speaker":"Alan Smith","startTime":3174.009,"endTime":3178.3289999999997,"body":"these, the other guys who've"},{"speaker":"Alan Smith","startTime":3174.009,"endTime":3178.3289999999997,"body":"been cheated to yeah, really"},{"speaker":"Alan Smith","startTime":3178.3289999999997,"endTime":3184.269,"body":"smart operators. And now he's"},{"speaker":"Alan Smith","startTime":3178.3289999999997,"endTime":3184.269,"body":"managing partner at Sequoia and"},{"speaker":"Alan Smith","startTime":3184.299,"endTime":3188.1389999999997,"body":"the sort of tech companies that"},{"speaker":"Alan Smith","startTime":3184.299,"endTime":3188.1389999999997,"body":"he hasn't invested, invested in"},{"speaker":"Alan Smith","startTime":3188.1389999999997,"endTime":3190.629,"body":"over the years aren't worth"},{"speaker":"Alan Smith","startTime":3188.1389999999997,"endTime":3190.629,"body":"talking about. And it's just"},{"speaker":"Alan Smith","startTime":3190.629,"endTime":3193.479,"body":"full of little gems of wisdom as"},{"speaker":"Alan Smith","startTime":3190.629,"endTime":3193.479,"body":"well worth it's I mean, it's a"},{"speaker":"Alan Smith","startTime":3193.479,"endTime":3195.939,"body":"couple of hours long, and it's"},{"speaker":"Alan Smith","startTime":3193.479,"endTime":3195.939,"body":"worth chunking it down and"},{"speaker":"Alan Smith","startTime":3195.939,"endTime":3198.429,"body":"listening to others brilliant"},{"speaker":"Alan Smith","startTime":3195.939,"endTime":3198.429,"body":"really just felt I felt smarter"},{"speaker":"Alan Smith","startTime":3198.429,"endTime":3201.3089999999997,"body":"just for listening to it. A"},{"speaker":"Alan Smith","startTime":3198.429,"endTime":3201.3089999999997,"body":"couple of other quick ones,"},{"speaker":"Alan Smith","startTime":3201.339,"endTime":3207.279,"body":"there is a Netflix film called"},{"speaker":"Alan Smith","startTime":3201.339,"endTime":3207.279,"body":"get smart with money. And one of"},{"speaker":"Alan Smith","startTime":3207.279,"endTime":3211.029,"body":"these ones where you kind of"},{"speaker":"Alan Smith","startTime":3207.279,"endTime":3211.029,"body":"heart sinks about thinking, you"},{"speaker":"Alan Smith","startTime":3211.029,"endTime":3213.999,"body":"know, big production, things all"},{"speaker":"Alan Smith","startTime":3211.029,"endTime":3213.999,"body":"about personal finance is just"},{"speaker":"Alan Smith","startTime":3213.999,"endTime":3217.839,"body":"going to be not very good. But I"},{"speaker":"Alan Smith","startTime":3213.999,"endTime":3217.839,"body":"was pleasantly surprised by it."},{"speaker":"Alan Smith","startTime":3218.679,"endTime":3224.1389999999997,"body":"They have four people have quite"},{"speaker":"Alan Smith","startTime":3218.679,"endTime":3224.1389999999997,"body":"different backgrounds, who go"},{"speaker":"Alan Smith","startTime":3224.1389999999997,"endTime":3226.089,"body":"through a bit of a kind of"},{"speaker":"Alan Smith","startTime":3224.1389999999997,"endTime":3226.089,"body":"financial plan, financial"},{"speaker":"Alan Smith","startTime":3226.089,"endTime":3229.629,"body":"coaching exercise. And what was"},{"speaker":"Alan Smith","startTime":3226.089,"endTime":3229.629,"body":"interesting to me as someone"},{"speaker":"Alan Smith","startTime":3229.629,"endTime":3231.939,"body":"who's obviously in the game,"},{"speaker":"Alan Smith","startTime":3229.629,"endTime":3231.939,"body":"doing this sort of day in day"},{"speaker":"Alan Smith","startTime":3231.939,"endTime":3234.7889999999998,"body":"out was seeing it from an"},{"speaker":"Alan Smith","startTime":3231.939,"endTime":3234.7889999999998,"body":"outsider's perspective, because"},{"speaker":"Alan Smith","startTime":3234.7889999999998,"endTime":3237.5789999999997,"body":"you had for example, there's"},{"speaker":"Alan Smith","startTime":3234.7889999999998,"endTime":3237.5789999999997,"body":"this one guy who was an NFL"},{"speaker":"Alan Smith","startTime":3237.5789999999997,"endTime":3241.3889999999997,"body":"player, he I think he just"},{"speaker":"Alan Smith","startTime":3237.5789999999997,"endTime":3241.3889999999997,"body":"picked out $1.6 million part of"},{"speaker":"Alan Smith","startTime":3241.3889999999997,"endTime":3243.759,"body":"a contract that was more money"},{"speaker":"Alan Smith","startTime":3241.3889999999997,"endTime":3243.759,"body":"to come and so on. And he just,"},{"speaker":"Alan Smith","startTime":3244.0589999999997,"endTime":3245.979,"body":"you know, did that classic"},{"speaker":"Alan Smith","startTime":3244.0589999999997,"endTime":3245.979,"body":"thing, he bought his mama house,"},{"speaker":"Alan Smith","startTime":3245.979,"endTime":3247.659,"body":"he bought himself a car that"},{"speaker":"Alan Smith","startTime":3245.979,"endTime":3247.659,"body":"loads of other things and"},{"speaker":"Alan Smith","startTime":3247.659,"endTime":3249.759,"body":"quickly realized he might be"},{"speaker":"Alan Smith","startTime":3247.659,"endTime":3249.759,"body":"running out of money because his"},{"speaker":"Alan Smith","startTime":3249.759,"endTime":3253.959,"body":"contract might not be renewed."},{"speaker":"Alan Smith","startTime":3249.759,"endTime":3253.959,"body":"And his financial coach who"},{"speaker":"Alan Smith","startTime":3253.959,"endTime":3257.439,"body":"apparently was quite he's quite"},{"speaker":"Alan Smith","startTime":3253.959,"endTime":3257.439,"body":"a big name over in the US. He"},{"speaker":"Alan Smith","startTime":3257.439,"endTime":3260.409,"body":"was talking about we need to"},{"speaker":"Alan Smith","startTime":3257.439,"endTime":3260.409,"body":"dump that into the s\u0026p, s\u0026p. And"},{"speaker":"Alan Smith","startTime":3260.409,"endTime":3264.279,"body":"he was going the Essent what"},{"speaker":"Alan Smith","startTime":3260.409,"endTime":3264.279,"body":"because you know, we use this"},{"speaker":"Alan Smith","startTime":3264.279,"endTime":3267.5789999999997,"body":"language is just commonplace."},{"speaker":"Alan Smith","startTime":3264.279,"endTime":3267.5789999999997,"body":"And this guy, he was just he was"},{"speaker":"Alan Smith","startTime":3267.5789999999997,"endTime":3270.189,"body":"a smart professional sportsman,"},{"speaker":"Alan Smith","startTime":3267.5789999999997,"endTime":3270.189,"body":"he'd never heard of this thing."},{"speaker":"Alan Smith","startTime":3270.189,"endTime":3273.729,"body":"These are the essence something."},{"speaker":"Alan Smith","startTime":3270.189,"endTime":3273.729,"body":"So there was an idea even for"},{"speaker":"Alan Smith","startTime":3273.729,"endTime":3276.0389999999998,"body":"these professionals, and you're"},{"speaker":"Alan Smith","startTime":3273.729,"endTime":3276.0389999999998,"body":"less than two, all of us just"},{"speaker":"Alan Smith","startTime":3276.0389999999998,"endTime":3279.339,"body":"calm down and see things in"},{"speaker":"Alan Smith","startTime":3276.0389999999998,"endTime":3279.339,"body":"language that people understand."},{"speaker":"Alan Smith","startTime":3279.6389999999997,"endTime":3283.3289999999997,"body":"It's again, it's worth watching"},{"speaker":"Alan Smith","startTime":3279.6389999999997,"endTime":3283.3289999999997,"body":"to get a sense of, you know,"},{"speaker":"Alan Smith","startTime":3283.3289999999997,"endTime":3285.909,"body":"consumers money, anxiety, you"},{"speaker":"Alan Smith","startTime":3283.3289999999997,"endTime":3285.909,"body":"have people there was there was"},{"speaker":"Alan Smith","startTime":3285.909,"endTime":3288.7889999999998,"body":"a sort of impoverished artist is"},{"speaker":"Alan Smith","startTime":3285.909,"endTime":3288.7889999999998,"body":"working at a bar. She had some"},{"speaker":"Alan Smith","startTime":3288.7889999999998,"endTime":3291.489,"body":"challenges financially, and"},{"speaker":"Alan Smith","startTime":3288.7889999999998,"endTime":3291.489,"body":"there was a multimillionaire"},{"speaker":"Alan Smith","startTime":3291.489,"endTime":3295.569,"body":"sportsman who had challenges"},{"speaker":"Alan Smith","startTime":3291.489,"endTime":3295.569,"body":"with his finances. And so just"},{"speaker":"Alan Smith","startTime":3295.569,"endTime":3298.209,"body":"to get a perspective of what"},{"speaker":"Alan Smith","startTime":3295.569,"endTime":3298.209,"body":"it's like to be someone who"},{"speaker":"Alan Smith","startTime":3298.209,"endTime":3300.609,"body":"doesn't have a, you know, a deep"},{"speaker":"Alan Smith","startTime":3298.209,"endTime":3300.609,"body":"understanding of money issues"},{"speaker":"Alan Smith","startTime":3300.669,"endTime":3304.989,"body":"worth watching. 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He is"},{"speaker":"Alan Smith","startTime":3308.409,"endTime":3311.319,"body":"prolific content producer but as"},{"speaker":"Alan Smith","startTime":3308.409,"endTime":3311.319,"body":"an article a couple of weeks"},{"speaker":"Alan Smith","startTime":3311.319,"endTime":3314.709,"body":"ago, and it's written by a guest"},{"speaker":"Alan Smith","startTime":3311.319,"endTime":3314.709,"body":"called Stephanie Brogan, that if"},{"speaker":"Alan Smith","startTime":3314.709,"endTime":3316.8089999999997,"body":"any of you've come across"},{"speaker":"Alan Smith","startTime":3314.709,"endTime":3316.8089999999997,"body":"Stephanie Brogan, she seems to"},{"speaker":"Alan Smith","startTime":3316.8089999999997,"endTime":3321.3689999999997,"body":"be some sort of consultant"},{"speaker":"Alan Smith","startTime":3316.8089999999997,"endTime":3321.3689999999997,"body":"produces a lot of content from"},{"speaker":"Alan Smith","startTime":3321.3689999999997,"endTime":3325.899,"body":"her base in Costa Rica. I think"},{"speaker":"Alan Smith","startTime":3321.3689999999997,"endTime":3325.899,"body":"it's a bogan broken bogucki"},{"speaker":"Alan Smith","startTime":3325.899,"endTime":3329.049,"body":"bulgan. Okay, but it's recently"},{"speaker":"Alan Smith","startTime":3325.899,"endTime":3329.049,"body":"on the coach's blog, and"},{"speaker":"Alan Smith","startTime":3329.049,"endTime":3331.959,"body":"actually, it relates very"},{"speaker":"Alan Smith","startTime":3329.049,"endTime":3331.959,"body":"closely to what we've been"},{"speaker":"Alan Smith","startTime":3331.959,"endTime":3334.749,"body":"talking about a bit. You"},{"speaker":"Alan Smith","startTime":3331.959,"endTime":3334.749,"body":"mentioned welcome meetings. But"},{"speaker":"Alan Smith","startTime":3335.1389999999997,"endTime":3339.009,"body":"this is where she really breaks"},{"speaker":"Alan Smith","startTime":3335.1389999999997,"endTime":3339.009,"body":"down what she believes is the"},{"speaker":"Alan Smith","startTime":3339.0389999999998,"endTime":3344.709,"body":"ideal customer experience client"},{"speaker":"Alan Smith","startTime":3339.0389999999998,"endTime":3344.709,"body":"journey. And I'm, I'm going to"},{"speaker":"Alan Smith","startTime":3344.709,"endTime":3347.109,"body":"be if you've got that project"},{"speaker":"Alan Smith","startTime":3344.709,"endTime":3347.109,"body":"coming up, Carl well worth"},{"speaker":"Alan Smith","startTime":3347.109,"endTime":3350.6189999999997,"body":"reading. The article is very"},{"speaker":"Alan Smith","startTime":3347.109,"endTime":3350.6189999999997,"body":"detailed. And I think it's just"},{"speaker":"Alan Smith","startTime":3350.6189999999997,"endTime":3353.859,"body":"a much better, more modern"},{"speaker":"Alan Smith","startTime":3350.6189999999997,"endTime":3353.859,"body":"version of what we've all been"},{"speaker":"Alan Smith","startTime":3353.859,"endTime":3357.009,"body":"doing a version of for maybe a"},{"speaker":"Alan Smith","startTime":3353.859,"endTime":3357.009,"body":"decade or so that might need a"},{"speaker":"Alan Smith","startTime":3357.009,"endTime":3360.669,"body":"refresh. So well worth checking"},{"speaker":"Alan Smith","startTime":3357.009,"endTime":3360.669,"body":"that out on the Michael Kitsis"},{"speaker":"Alan Smith","startTime":3360.669,"endTime":3364.5389999999998,"body":"blog. And I'm sure Nick will be"},{"speaker":"Alan Smith","startTime":3360.669,"endTime":3364.5389999999998,"body":"able to post links to all these"},{"speaker":"Alan Smith","startTime":3364.5389999999998,"endTime":3367.089,"body":"things on the infamous show"},{"speaker":"Alan Smith","startTime":3364.5389999999998,"endTime":3367.089,"body":"notes."},{"speaker":"Nick Lincoln","startTime":3367.569,"endTime":3370.3289999999997,"body":"Over to the show"},{"speaker":"Nick Lincoln","startTime":3367.569,"endTime":3370.3289999999997,"body":"notes. Well, we'll we'll we'll"},{"speaker":"Nick Lincoln","startTime":3370.3289999999997,"endTime":3374.019,"body":"think about that. And the you"},{"speaker":"Nick Lincoln","startTime":3370.3289999999997,"endTime":3374.019,"body":"got a culture couch item."},{"speaker":"Andy Hart","startTime":3374.44,"endTime":3377.56,"body":"Yeah, it's a book"},{"speaker":"Andy Hart","startTime":3374.44,"endTime":3377.56,"body":"These books been recommended to"},{"speaker":"Andy Hart","startTime":3377.56,"endTime":3379.96,"body":"me a few times but haven't got"},{"speaker":"Andy Hart","startTime":3377.56,"endTime":3379.96,"body":"around to listening to it. It's"},{"speaker":"Andy Hart","startTime":3379.96,"endTime":3384.91,"body":"called 4000 weeks. Embrace your"},{"speaker":"Andy Hart","startTime":3379.96,"endTime":3384.91,"body":"limits change your life."},{"speaker":"Nick Lincoln","startTime":3385.18,"endTime":3387.16,"body":"Oh, there we go"},{"speaker":"Nick Lincoln","startTime":3385.18,"endTime":3387.16,"body":"for those who can't see the"},{"speaker":"Nick Lincoln","startTime":3387.16,"endTime":3393.19,"body":"YouTube cards got on his phone."},{"speaker":"Nick Lincoln","startTime":3387.16,"endTime":3393.19,"body":"Yeah. Okay, so forth."},{"speaker":"Alan Smith","startTime":3395.47,"endTime":3396.91,"body":"Sorry about it."},{"speaker":"Alan Smith","startTime":3395.47,"endTime":3396.91,"body":"Yeah."},{"speaker":"Andy Hart","startTime":3397.509,"endTime":3401.709,"body":"It's how many weeks"},{"speaker":"Andy Hart","startTime":3397.509,"endTime":3401.709,"body":"the average person has typically"},{"speaker":"Andy Hart","startTime":3401.709,"endTime":3405.759,"body":"got on this planet? Couple of"},{"speaker":"Andy Hart","startTime":3401.709,"endTime":3405.759,"body":"extracts from the Amazon"},{"speaker":"Andy Hart","startTime":3405.759,"endTime":3409.0589999999997,"body":"reviews, what have you stopped"},{"speaker":"Andy Hart","startTime":3405.759,"endTime":3409.0589999999997,"body":"trying to do everything so you"},{"speaker":"Andy Hart","startTime":3409.0589999999997,"endTime":3413.529,"body":"could finally get around to"},{"speaker":"Andy Hart","startTime":3409.0589999999997,"endTime":3413.529,"body":"doing what counts? It's a"},{"speaker":"Andy Hart","startTime":3413.529,"endTime":3417.399,"body":"fantastic book is written by an"},{"speaker":"Andy Hart","startTime":3413.529,"endTime":3417.399,"body":"English author that based in the"},{"speaker":"Andy Hart","startTime":3417.399,"endTime":3422.859,"body":"US. Yeah, highly recommend it."},{"speaker":"Andy Hart","startTime":3417.399,"endTime":3422.859,"body":"It will change the way you think"},{"speaker":"Andy Hart","startTime":3422.919,"endTime":3426.399,"body":"we're just so future obsessed."},{"speaker":"Andy Hart","startTime":3422.919,"endTime":3426.399,"body":"Especially us as financial"},{"speaker":"Andy Hart","startTime":3426.399,"endTime":3428.679,"body":"planners, all future obsessed,"},{"speaker":"Andy Hart","startTime":3426.399,"endTime":3428.679,"body":"is that everything you do with"},{"speaker":"Andy Hart","startTime":3428.679,"endTime":3433.179,"body":"your child is your baby all the"},{"speaker":"Andy Hart","startTime":3428.679,"endTime":3433.179,"body":"stuff you're teaching your baby"},{"speaker":"Andy Hart","startTime":3433.179,"endTime":3435.969,"body":"so it's a good toddler?"},{"speaker":"Andy Hart","startTime":3433.179,"endTime":3435.969,"body":"Everything you teach a toddler"},{"speaker":"Andy Hart","startTime":3435.999,"endTime":3439.299,"body":"so it can be a good, you know,"},{"speaker":"Andy Hart","startTime":3435.999,"endTime":3439.299,"body":"young child, you know, is this"},{"speaker":"Andy Hart","startTime":3439.299,"endTime":3442.089,"body":"all future obsessed with"},{"speaker":"Andy Hart","startTime":3439.299,"endTime":3442.089,"body":"everything where we never enjoy"},{"speaker":"Andy Hart","startTime":3442.089,"endTime":3446.199,"body":"the moment basically and all"},{"speaker":"Andy Hart","startTime":3442.089,"endTime":3446.199,"body":"that sort of stuff? It's a"},{"speaker":"Andy Hart","startTime":3446.199,"endTime":3449.5589999999997,"body":"fantastic book. Yeah, I think"},{"speaker":"Andy Hart","startTime":3446.199,"endTime":3449.5589999999997,"body":"you'll really like it. Check it"},{"speaker":"Nick Lincoln","startTime":3449.71,"endTime":3450.94,"body":"just quickly"},{"speaker":"Nick Lincoln","startTime":3449.71,"endTime":3450.94,"body":"closing on this call. Are you"},{"speaker":"Nick Lincoln","startTime":3450.94,"endTime":3452.8599999999997,"body":"actually are you listening to it"},{"speaker":"Nick Lincoln","startTime":3450.94,"endTime":3452.8599999999997,"body":"presently."},{"speaker":"Carl Widger","startTime":3454.0,"endTime":3456.2799999999997,"body":"I'm actually"},{"speaker":"Carl Widger","startTime":3454.0,"endTime":3456.2799999999997,"body":"reading a site as you guys know,"},{"speaker":"Carl Widger","startTime":3456.31,"endTime":3459.0699999999997,"body":"I've tried it I'm trying at the"},{"speaker":"Carl Widger","startTime":3456.31,"endTime":3459.0699999999997,"body":"moment to go a little bit more"},{"speaker":"Carl Widger","startTime":3459.0699999999997,"endTime":3462.7599999999998,"body":"analog right, so dropped my"},{"speaker":"Carl Widger","startTime":3459.0699999999997,"endTime":3462.7599999999998,"body":"phone. So a big challenge for me"},{"speaker":"Carl Widger","startTime":3462.7599999999998,"endTime":3465.88,"body":"is to actually read a book so I"},{"speaker":"Carl Widger","startTime":3462.7599999999998,"endTime":3465.88,"body":"picked that one up Andy mad that"},{"speaker":"Carl Widger","startTime":3465.88,"endTime":3469.5099999999998,"body":"you had that one today. But I"},{"speaker":"Carl Widger","startTime":3465.88,"endTime":3469.5099999999998,"body":"mentioned atomic habits in the"},{"speaker":"Carl Widger","startTime":3469.5099999999998,"endTime":3473.35,"body":"last episode. And this is almost"},{"speaker":"Carl Widger","startTime":3469.5099999999998,"endTime":3473.35,"body":"the opposite of atomic habits."},{"speaker":"Carl Widger","startTime":3473.38,"endTime":3477.7599999999998,"body":"And I'm replying to it right"},{"speaker":"Carl Widger","startTime":3473.38,"endTime":3477.7599999999998,"body":"it's like it's just crazy. But"},{"speaker":"Carl Widger","startTime":3477.79,"endTime":3479.89,"body":"okay, challenge yourself and"},{"speaker":"Carl Widger","startTime":3477.79,"endTime":3479.89,"body":"challenge your way of thinking."},{"speaker":"Carl Widger","startTime":3480.19,"endTime":3484.99,"body":"It's about like I did you ever"},{"speaker":"Carl Widger","startTime":3480.19,"endTime":3484.99,"body":"hear the phrase you know, when"},{"speaker":"Carl Widger","startTime":3484.99,"endTime":3487.15,"body":"you're you're never finished"},{"speaker":"Carl Widger","startTime":3484.99,"endTime":3487.15,"body":"painting the Eiffel Tower"},{"speaker":"Carl Widger","startTime":3487.18,"endTime":3489.13,"body":"because when you finish you have"},{"speaker":"Carl Widger","startTime":3487.18,"endTime":3489.13,"body":"got to start all over again."},{"speaker":"Carl Widger","startTime":3489.3399999999997,"endTime":3492.91,"body":"That's the kind of premise of"},{"speaker":"Carl Widger","startTime":3489.3399999999997,"endTime":3492.91,"body":"look if you get all your jobs"},{"speaker":"Carl Widger","startTime":3492.91,"endTime":3494.56,"body":"done everything's on your to do"},{"speaker":"Carl Widger","startTime":3492.91,"endTime":3494.56,"body":"list."},{"speaker":"Andy Hart","startTime":3494.68,"endTime":3496.87,"body":"I think he's the"},{"speaker":"Andy Hart","startTime":3494.68,"endTime":3496.87,"body":"fourth branch called the Eiffel"},{"speaker":"Andy Hart","startTime":3496.87,"endTime":3498.19,"body":"Tower the fourth bridge"},{"speaker":"Nick Lincoln","startTime":3501.46,"endTime":3504.85,"body":"so the concept"},{"speaker":"Nick Lincoln","startTime":3501.46,"endTime":3504.85,"body":"applies to any large thing made"},{"speaker":"Nick Lincoln","startTime":3504.85,"endTime":3506.71,"body":"up of metal but"},{"speaker":"Carl Widger","startTime":3507.04,"endTime":3508.15,"body":"for thanks for"},{"speaker":"Carl Widger","startTime":3507.04,"endTime":3508.15,"body":"correcting me"},{"speaker":"Andy Hart","startTime":3512.35,"endTime":3513.94,"body":"no worries I'll never"},{"speaker":"Andy Hart","startTime":3512.35,"endTime":3513.94,"body":"do"},{"speaker":"Carl Widger","startTime":3517.42,"endTime":3525.16,"body":"well but Yeah, but"},{"speaker":"Carl Widger","startTime":3517.42,"endTime":3525.16,"body":"look, I think this book is as"},{"speaker":"Carl Widger","startTime":3525.16,"endTime":3528.16,"body":"much as I love atomic habits."},{"speaker":"Carl Widger","startTime":3525.16,"endTime":3528.16,"body":"Everyone has to read it and I've"},{"speaker":"Carl Widger","startTime":3528.16,"endTime":3530.74,"body":"been telling my kids I think"},{"speaker":"Carl Widger","startTime":3528.16,"endTime":3530.74,"body":"this one is equally as important"},{"speaker":"Carl Widger","startTime":3530.74,"endTime":3535.48,"body":"because I think it gives you"},{"speaker":"Carl Widger","startTime":3530.74,"endTime":3535.48,"body":"that balance. I can I just say I"},{"speaker":"Carl Widger","startTime":3535.48,"endTime":3539.83,"body":"found because I'm gone. Trying"},{"speaker":"Carl Widger","startTime":3535.48,"endTime":3539.83,"body":"to get off my phone on Netflix."},{"speaker":"Carl Widger","startTime":3539.83,"endTime":3542.68,"body":"So have you I think I'm the last"},{"speaker":"Carl Widger","startTime":3539.83,"endTime":3542.68,"body":"person on the planet to get onto"},{"speaker":"Carl Widger","startTime":3542.68,"endTime":3547.21,"body":"Stranger Things. But my God,"},{"speaker":"Carl Widger","startTime":3542.68,"endTime":3547.21,"body":"Stranger Things get on"},{"speaker":"Nick Lincoln","startTime":3547.42,"endTime":3549.5499999999997,"body":"Yeah, I watched"},{"speaker":"Nick Lincoln","startTime":3547.42,"endTime":3549.5499999999997,"body":"the first couple of series then"},{"speaker":"Nick Lincoln","startTime":3549.5499999999997,"endTime":3550.5699999999997,"body":"it's live sci fi"},{"speaker":"Andy Hart","startTime":3553.72,"endTime":3556.18,"body":"Yeah, it's amazing."},{"speaker":"Alan Smith","startTime":3556.48,"endTime":3560.71,"body":"Yeah. This is where"},{"speaker":"Alan Smith","startTime":3556.48,"endTime":3560.71,"body":"the Kate Bush song came from"},{"speaker":"Alan Smith","startTime":3560.8599999999997,"endTime":3563.29,"body":"running up the sack Yeah, so"},{"speaker":"Alan Smith","startTime":3560.8599999999997,"endTime":3563.29,"body":"it's right back on the charts"},{"speaker":"Alan Smith","startTime":3563.29,"endTime":3566.56,"body":"just shows you Yes. Content 30"},{"speaker":"Alan Smith","startTime":3563.29,"endTime":3566.56,"body":"years ago. Number"},{"speaker":"Andy Hart","startTime":3566.56,"endTime":3569.23,"body":"one in about 30"},{"speaker":"Andy Hart","startTime":3566.56,"endTime":3569.23,"body":"countries not in the chain."},{"speaker":"Nick Lincoln","startTime":3569.23,"endTime":3572.92,"body":"Yeah. Okay, great"},{"speaker":"Nick Lincoln","startTime":3569.23,"endTime":3572.92,"body":"stuff. Guys. We're at 57"},{"speaker":"Nick Lincoln","startTime":3572.92,"endTime":3575.8599999999997,"body":"minutes. I need to go through a"},{"speaker":"Nick Lincoln","startTime":3572.92,"endTime":3575.8599999999997,"body":"way I think we're done. That was"},{"speaker":"Nick Lincoln","startTime":3575.8599999999997,"endTime":3579.43,"body":"a great episode. Ladies and"},{"speaker":"Nick Lincoln","startTime":3575.8599999999997,"endTime":3579.43,"body":"Gents please do follow us at"},{"speaker":"Nick Lincoln","startTime":3579.43,"endTime":3583.15,"body":"advisor podcast on Twitter. If"},{"speaker":"Nick Lincoln","startTime":3579.43,"endTime":3583.15,"body":"you watch this on YouTube,"},{"speaker":"Nick Lincoln","startTime":3583.15,"endTime":3585.5499999999997,"body":"please like and subscribe to our"},{"speaker":"Nick Lincoln","startTime":3583.15,"endTime":3585.5499999999997,"body":"channel please leave a six and a"},{"speaker":"Nick Lincoln","startTime":3585.5499999999997,"endTime":3589.39,"body":"five star review on iTunes. I"},{"speaker":"Nick Lincoln","startTime":3585.5499999999997,"endTime":3589.39,"body":"love you guys. Take care until"},{"speaker":"Nick Lincoln","startTime":3589.39,"endTime":3592.06,"body":"the next episode. Bye. Thanks"},{"speaker":"Nick Lincoln","startTime":3589.39,"endTime":3592.06,"body":"bye bye"}]}