{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":11.759,"endTime":16.799,"body":"Welcome to The Real"},{"speaker":"Unknown","startTime":11.759,"endTime":16.799,"body":"advisor podcast, T AR AP twerp."},{"speaker":"Unknown","startTime":17.159,"endTime":20.399,"body":"Please follow us and join in the"},{"speaker":"Unknown","startTime":17.159,"endTime":20.399,"body":"conversation on Twitter at"},{"speaker":"Unknown","startTime":20.399,"endTime":24.149,"body":"advisor podcast where you can"},{"speaker":"Unknown","startTime":20.399,"endTime":24.149,"body":"suggest ideas and themes you'd"},{"speaker":"Unknown","startTime":24.149,"endTime":27.599,"body":"like the track team to discuss."},{"speaker":"Unknown","startTime":24.149,"endTime":27.599,"body":"Also remember to like and"},{"speaker":"Unknown","startTime":27.599,"endTime":31.259,"body":"subscribe to our YouTube channel"},{"speaker":"Unknown","startTime":27.599,"endTime":31.259,"body":"and leave a six out of five star"},{"speaker":"Unknown","startTime":31.259,"endTime":35.219,"body":"review on iTunes. Doing all this"},{"speaker":"Unknown","startTime":31.259,"endTime":35.219,"body":"really really helps us which"},{"speaker":"Unknown","startTime":35.219,"endTime":39.449,"body":"means we can do more to help you"},{"speaker":"Unknown","startTime":35.219,"endTime":39.449,"body":"now over to the studio for the"},{"speaker":"Unknown","startTime":39.449,"endTime":41.009,"body":"latest pilot trap"},{"speaker":"Nick Lincoln","startTime":46.59,"endTime":49.05,"body":"yes indeed there"},{"speaker":"Nick Lincoln","startTime":46.59,"endTime":49.05,"body":"Travis Welcome back to what many"},{"speaker":"Nick Lincoln","startTime":49.05,"endTime":53.31,"body":"people are calling episode 40 of"},{"speaker":"Nick Lincoln","startTime":49.05,"endTime":53.31,"body":"the real advisor podcast to aid"},{"speaker":"Nick Lincoln","startTime":53.31,"endTime":56.13,"body":"the trap. 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First"},{"speaker":"Andy Hart","startTime":81.18,"endTime":84.81,"body":"one is from Simon Welsh entitled"},{"speaker":"Andy Hart","startTime":84.81,"endTime":88.14,"body":"banter or content five stars."},{"speaker":"Andy Hart","startTime":84.81,"endTime":88.14,"body":"I'm on holiday listen to the"},{"speaker":"Andy Hart","startTime":88.14,"endTime":91.32,"body":"podcast chuckling to myself. I'm"},{"speaker":"Andy Hart","startTime":88.14,"endTime":91.32,"body":"not sure what I find more"},{"speaker":"Andy Hart","startTime":91.32,"endTime":94.38,"body":"invaluable. 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Please keep up the"},{"speaker":"Andy Hart","startTime":123.72,"endTime":127.83,"body":"good work guys experiences that"},{"speaker":"Andy Hart","startTime":123.72,"endTime":127.83,"body":"might seem mundane and obvious"},{"speaker":"Andy Hart","startTime":127.83,"endTime":130.95,"body":"to you can be a eureka moment"},{"speaker":"Andy Hart","startTime":127.83,"endTime":130.95,"body":"for many of your listeners."},{"speaker":"Andy Hart","startTime":131.19,"endTime":132.6,"body":"Thank you back to you, Nick."},{"speaker":"Nick Lincoln","startTime":133.11,"endTime":135.48,"body":"Lovely, lovely,"},{"speaker":"Nick Lincoln","startTime":133.11,"endTime":135.48,"body":"what a couple of lovely reviews"},{"speaker":"Nick Lincoln","startTime":135.48,"endTime":139.95,"body":"and please do keep on posting"},{"speaker":"Nick Lincoln","startTime":135.48,"endTime":139.95,"body":"the reviews on iTunes and, and"},{"speaker":"Nick Lincoln","startTime":139.95,"endTime":141.66,"body":"commenting on our YouTube"},{"speaker":"Nick Lincoln","startTime":139.95,"endTime":141.66,"body":"channel as well because it does"},{"speaker":"Nick Lincoln","startTime":141.66,"endTime":143.94,"body":"mean a lot to us and it gives us"},{"speaker":"Nick Lincoln","startTime":141.66,"endTime":143.94,"body":"a fillip, and they are"},{"speaker":"Nick Lincoln","startTime":144.18,"endTime":148.56,"body":"genuinely, really, really strong"},{"speaker":"Nick Lincoln","startTime":144.18,"endTime":148.56,"body":"reviews. 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Yeah,"},{"speaker":"Andy Hart","startTime":190.439,"endTime":193.169,"body":"I think it'd be four"},{"speaker":"Andy Hart","startTime":190.439,"endTime":193.169,"body":"out of six now Ave so just"},{"speaker":"Andy Hart","startTime":193.169,"endTime":194.279,"body":"getting a bit last"},{"speaker":"Alan Smith","startTime":194.279,"endTime":196.709,"body":"four in a row. Yeah,"},{"speaker":"Alan Smith","startTime":194.279,"endTime":196.709,"body":"four or six? No, you're five out"},{"speaker":"Alan Smith","startTime":196.709,"endTime":201.119,"body":"of six. I think it is. But yes,"},{"speaker":"Alan Smith","startTime":196.709,"endTime":201.119,"body":"Nick and I watched the rugby at"},{"speaker":"Alan Smith","startTime":201.119,"endTime":204.179,"body":"the weekend together. I had a"},{"speaker":"Alan Smith","startTime":201.119,"endTime":204.179,"body":"great time. Thank you very much."},{"speaker":"Alan Smith","startTime":204.539,"endTime":207.119,"body":"Carl was what you were at the"},{"speaker":"Alan Smith","startTime":204.539,"endTime":207.119,"body":"Ireland game where you call I"},{"speaker":"Unknown","startTime":207.12,"endTime":209.82,"body":"was I was at the"},{"speaker":"Unknown","startTime":207.12,"endTime":209.82,"body":"Ireland game Ireland are in"},{"speaker":"Unknown","startTime":209.82,"endTime":215.16,"body":"spirit a strongly looking good"},{"speaker":"Unknown","startTime":209.82,"endTime":215.16,"body":"for a back to back Grand Slam,"},{"speaker":"Unknown","startTime":215.37,"endTime":218.55,"body":"which hasn't been done in the"},{"speaker":"Unknown","startTime":215.37,"endTime":218.55,"body":"Six Nations era apparently."},{"speaker":"Unknown","startTime":220.95,"endTime":224.04,"body":"Yeah, now two very tricky games"},{"speaker":"Unknown","startTime":220.95,"endTime":224.04,"body":"come in England and Scotland,"},{"speaker":"Unknown","startTime":224.04,"endTime":229.44,"body":"obviously but fine. 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These"},{"speaker":"Unknown","startTime":240.12,"endTime":244.44,"body":"things happen."},{"speaker":"Alan Smith","startTime":244.92,"endTime":246.9,"body":"Back to you, Mr."},{"speaker":"Alan Smith","startTime":244.92,"endTime":246.9,"body":"Chairman. Unless you want to"},{"speaker":"Alan Smith","startTime":246.9,"endTime":249.27,"body":"talk rugby more. No. Okay."},{"speaker":"Nick Lincoln","startTime":250.08,"endTime":251.82,"body":"timestamp for the"},{"speaker":"Nick Lincoln","startTime":250.08,"endTime":251.82,"body":"show, topical titbits, I'll"},{"speaker":"Nick Lincoln","startTime":251.82,"endTime":254.61,"body":"start off. So metaphor, the"},{"speaker":"Nick Lincoln","startTime":251.82,"endTime":254.61,"body":"artist formerly known as"},{"speaker":"Nick Lincoln","startTime":254.61,"endTime":257.04,"body":"Facebook has paid his first"},{"speaker":"Nick Lincoln","startTime":254.61,"endTime":257.04,"body":"dividend, which in the scheme of"},{"speaker":"Nick Lincoln","startTime":257.04,"endTime":260.52,"body":"things isn't a monetary amount."},{"speaker":"Nick Lincoln","startTime":257.04,"endTime":260.52,"body":"It's like it's 5050 cents a"},{"speaker":"Nick Lincoln","startTime":260.52,"endTime":264.9,"body":"share or something. But it's a"},{"speaker":"Nick Lincoln","startTime":260.52,"endTime":264.9,"body":"kind of seismic line in the sand"},{"speaker":"Nick Lincoln","startTime":264.9,"endTime":267.18,"body":"and moments remember, because"},{"speaker":"Nick Lincoln","startTime":264.9,"endTime":267.18,"body":"all these these these tech"},{"speaker":"Nick Lincoln","startTime":267.18,"endTime":270.36,"body":"stocks historically haven't paid"},{"speaker":"Nick Lincoln","startTime":267.18,"endTime":270.36,"body":"dividends and meta just dipping"},{"speaker":"Nick Lincoln","startTime":270.36,"endTime":272.28,"body":"its toe in the water. Once"},{"speaker":"Nick Lincoln","startTime":270.36,"endTime":272.28,"body":"you've done it, it's very"},{"speaker":"Nick Lincoln","startTime":272.28,"endTime":274.05,"body":"unlikely that you're going to"},{"speaker":"Nick Lincoln","startTime":272.28,"endTime":274.05,"body":"rescind that and the dividend"},{"speaker":"Nick Lincoln","startTime":274.05,"endTime":276.45,"body":"will only keep going up and up"},{"speaker":"Nick Lincoln","startTime":274.05,"endTime":276.45,"body":"and up. And maybe over time"},{"speaker":"Nick Lincoln","startTime":276.45,"endTime":279.27,"body":"we'll see the shift of a classic"},{"speaker":"Nick Lincoln","startTime":276.45,"endTime":279.27,"body":"growth stock into more of a more"},{"speaker":"Nick Lincoln","startTime":279.27,"endTime":281.16,"body":"of a kind of value stock where"},{"speaker":"Nick Lincoln","startTime":279.27,"endTime":281.16,"body":"people buy it for its future"},{"speaker":"Nick Lincoln","startTime":281.16,"endTime":284.13,"body":"income streams. Not just for the"},{"speaker":"Nick Lincoln","startTime":281.16,"endTime":284.13,"body":"greater fool theory of thinking"},{"speaker":"Nick Lincoln","startTime":284.13,"endTime":285.69,"body":"that somebody else would pay"},{"speaker":"Nick Lincoln","startTime":284.13,"endTime":285.69,"body":"more for better going forward."},{"speaker":"Nick Lincoln","startTime":285.69,"endTime":287.7,"body":"So just I bring that up then I"},{"speaker":"Nick Lincoln","startTime":285.69,"endTime":287.7,"body":"think I don't need to"},{"speaker":"Nick Lincoln","startTime":287.76,"endTime":293.64,"body":"necessarily talk about it in one"},{"speaker":"Nick Lincoln","startTime":287.76,"endTime":293.64,"body":"suit. So Mr. Hart trap live."},{"speaker":"Nick Lincoln","startTime":293.64,"endTime":295.17,"body":"How's it going? My friend? Yeah,"},{"speaker":"Andy Hart","startTime":295.17,"endTime":297.18,"body":"this is just a quick"},{"speaker":"Andy Hart","startTime":295.17,"endTime":297.18,"body":"update on the ticket sales are"},{"speaker":"Andy Hart","startTime":297.18,"endTime":301.89,"body":"going really well. The room is"},{"speaker":"Andy Hart","startTime":297.18,"endTime":301.89,"body":"got a capacity We have 150 on"},{"speaker":"Andy Hart","startTime":301.89,"endTime":305.61,"body":"the ninth of May, central London"},{"speaker":"Andy Hart","startTime":301.89,"endTime":305.61,"body":"trap live in hippodrome casino"},{"speaker":"Andy Hart","startTime":305.61,"endTime":309.15,"body":"Lola's downstairs, we've sold"},{"speaker":"Andy Hart","startTime":305.61,"endTime":309.15,"body":"110 tickets. So I'm quietly"},{"speaker":"Andy Hart","startTime":309.15,"endTime":311.4,"body":"confident we're gonna set it"},{"speaker":"Andy Hart","startTime":309.15,"endTime":311.4,"body":"out. Hopefully we set out and"},{"speaker":"Andy Hart","startTime":311.43,"endTime":314.07,"body":"you know, a couple of weeks or"},{"speaker":"Andy Hart","startTime":311.43,"endTime":314.07,"body":"whatnot. So yeah, it's just up"},{"speaker":"Andy Hart","startTime":314.07,"endTime":316.35,"body":"to us now to sort out the"},{"speaker":"Andy Hart","startTime":314.07,"endTime":316.35,"body":"content work out what we're"},{"speaker":"Andy Hart","startTime":316.35,"endTime":317.31,"body":"gonna do. And as"},{"speaker":"Unknown","startTime":317.49,"endTime":319.83,"body":"I was thinking exactly,"},{"speaker":"Unknown","startTime":317.49,"endTime":319.83,"body":"as you were saying that, Andy,"},{"speaker":"Unknown","startTime":319.86,"endTime":321.54,"body":"we should probably start"},{"speaker":"Unknown","startTime":319.86,"endTime":321.54,"body":"thinking about what are we going"},{"speaker":"Unknown","startTime":321.54,"endTime":322.74,"body":"to do about"},{"speaker":"Andy Hart","startTime":322.74,"endTime":325.5,"body":"it? We discussed it a"},{"speaker":"Andy Hart","startTime":322.74,"endTime":325.5,"body":"lot. And I think there's going"},{"speaker":"Andy Hart","startTime":325.5,"endTime":328.65,"body":"to be data. It's the first live"},{"speaker":"Andy Hart","startTime":325.5,"endTime":328.65,"body":"financial services podcast that"},{"speaker":"Andy Hart","startTime":328.65,"endTime":332.58,"body":"I know of. So sort of new ground"},{"speaker":"Andy Hart","startTime":328.65,"endTime":332.58,"body":"nudging the profession on slowly"},{"speaker":"Andy Hart","startTime":332.58,"endTime":335.49,"body":"but surely, so. Yeah, all good."},{"speaker":"Andy Hart","startTime":332.58,"endTime":335.49,"body":"So if you are on the fence,"},{"speaker":"Andy Hart","startTime":335.49,"endTime":339.6,"body":"please do buy a ticket, you go"},{"speaker":"Andy Hart","startTime":335.49,"endTime":339.6,"body":"to the real advisor, podcast.com"},{"speaker":"Andy Hart","startTime":339.6,"endTime":343.02,"body":"Advise with me, buy a ticket,"},{"speaker":"Andy Hart","startTime":339.6,"endTime":343.02,"body":"because they will go and then"},{"speaker":"Andy Hart","startTime":343.02,"endTime":345.03,"body":"you will send me an email"},{"speaker":"Andy Hart","startTime":343.02,"endTime":345.03,"body":"moaning that you didn't get"},{"speaker":"Andy Hart","startTime":345.03,"endTime":347.76,"body":"ticket, yada, yada, yada. And"},{"speaker":"Andy Hart","startTime":345.03,"endTime":347.76,"body":"the comments. Yeah,"},{"speaker":"Alan Smith","startTime":347.76,"endTime":350.58,"body":"I think it's all"},{"speaker":"Alan Smith","startTime":347.76,"endTime":350.58,"body":"about the community of being one"},{"speaker":"Alan Smith","startTime":350.58,"endTime":353.31,"body":"of these things. You can listen"},{"speaker":"Alan Smith","startTime":350.58,"endTime":353.31,"body":"to the podcast, and we will I"},{"speaker":"Alan Smith","startTime":353.31,"endTime":357.45,"body":"think we're going to put out the"},{"speaker":"Alan Smith","startTime":353.31,"endTime":357.45,"body":"recording the following episode,"},{"speaker":"Alan Smith","startTime":357.48,"endTime":360.39,"body":"I think as a recording, but"},{"speaker":"Alan Smith","startTime":357.48,"endTime":360.39,"body":"being in the room, I think will"},{"speaker":"Alan Smith","startTime":360.39,"endTime":363.0,"body":"be very important. I in the last"},{"speaker":"Alan Smith","startTime":360.39,"endTime":363.0,"body":"few weeks, I've had numerous"},{"speaker":"Alan Smith","startTime":363.0,"endTime":365.64,"body":"conversations with listeners of"},{"speaker":"Alan Smith","startTime":363.0,"endTime":365.64,"body":"the podcast, and they're all"},{"speaker":"Alan Smith","startTime":365.64,"endTime":367.95,"body":"just looking forward to just"},{"speaker":"Alan Smith","startTime":365.64,"endTime":367.95,"body":"chatting to other people like"},{"speaker":"Alan Smith","startTime":367.95,"endTime":370.53,"body":"me, there's it feels to me,"},{"speaker":"Alan Smith","startTime":367.95,"endTime":370.53,"body":"there's a lot of change going on"},{"speaker":"Alan Smith","startTime":370.59,"endTime":373.71,"body":"in our sector, a lot of people"},{"speaker":"Alan Smith","startTime":370.59,"endTime":373.71,"body":"reassessing their role, what"},{"speaker":"Alan Smith","startTime":373.71,"endTime":376.05,"body":"they're doing, and even the"},{"speaker":"Alan Smith","startTime":373.71,"endTime":376.05,"body":"position in their companies."},{"speaker":"Alan Smith","startTime":376.05,"endTime":378.39,"body":"I've certainly had a number of"},{"speaker":"Alan Smith","startTime":376.05,"endTime":378.39,"body":"conversations along those lines"},{"speaker":"Alan Smith","startTime":378.39,"endTime":382.44,"body":"and just being in the room with"},{"speaker":"Alan Smith","startTime":378.39,"endTime":382.44,"body":"like minded people over a glass"},{"speaker":"Alan Smith","startTime":382.44,"endTime":386.4,"body":"of Sasebo gorilla. 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So."},{"speaker":"Unknown","startTime":400.26,"endTime":404.19,"body":"Yeah, well, it's funny, right?"},{"speaker":"Unknown","startTime":404.22,"endTime":409.59,"body":"So my colleague, Ian Callahan"},{"speaker":"Unknown","startTime":404.22,"endTime":409.59,"body":"wrote a blog. I think he did it"},{"speaker":"Unknown","startTime":409.59,"endTime":413.49,"body":"maybe a year or 18 months ago"},{"speaker":"Unknown","startTime":409.59,"endTime":413.49,"body":"about the fire movement. It's a"},{"speaker":"Unknown","startTime":413.49,"endTime":417.66,"body":"much more balanced plug than how"},{"speaker":"Unknown","startTime":413.49,"endTime":417.66,"body":"I've described her I think about"},{"speaker":"Unknown","startTime":417.66,"endTime":420.75,"body":"the fire movement. But every"},{"speaker":"Unknown","startTime":417.66,"endTime":420.75,"body":"time we say something or put"},{"speaker":"Unknown","startTime":420.75,"endTime":424.05,"body":"something out about it, it seems"},{"speaker":"Unknown","startTime":420.75,"endTime":424.05,"body":"to circle back and people"},{"speaker":"Unknown","startTime":424.05,"endTime":427.2,"body":"saying, I don't know what I'm"},{"speaker":"Unknown","startTime":424.05,"endTime":427.2,"body":"talking about. But yeah, Keen"},{"speaker":"Unknown","startTime":427.2,"endTime":431.76,"body":"was the one of the papers did a"},{"speaker":"Unknown","startTime":427.2,"endTime":431.76,"body":"recent article on the fire"},{"speaker":"Unknown","startTime":431.76,"endTime":434.64,"body":"movement. And it was actually a"},{"speaker":"Unknown","startTime":431.76,"endTime":434.64,"body":"very good journalists did a"},{"speaker":"Unknown","startTime":434.64,"endTime":436.62,"body":"great job, because the"},{"speaker":"Unknown","startTime":434.64,"endTime":436.62,"body":"journalist spoke to someone"},{"speaker":"Unknown","startTime":436.62,"endTime":440.43,"body":"who's going through doing fire,"},{"speaker":"Unknown","startTime":436.62,"endTime":440.43,"body":"and then also kind of"},{"speaker":"Unknown","startTime":440.43,"endTime":444.18,"body":"counterbalance it with a couple"},{"speaker":"Unknown","startTime":440.43,"endTime":444.18,"body":"of years from key and but I just"},{"speaker":"Unknown","startTime":444.18,"endTime":446.04,"body":"thought is very interesting."},{"speaker":"Unknown","startTime":444.18,"endTime":446.04,"body":"It's something that people"},{"speaker":"Unknown","startTime":446.04,"endTime":450.96,"body":"obviously that is peaking"},{"speaker":"Unknown","startTime":446.04,"endTime":450.96,"body":"interest. So it's, it's it's"},{"speaker":"Unknown","startTime":450.96,"endTime":455.52,"body":"very topical, and nice for my"},{"speaker":"Unknown","startTime":450.96,"endTime":455.52,"body":"colleague Ian to be in the"},{"speaker":"Unknown","startTime":455.52,"endTime":459.99,"body":"newspapers on one particular"},{"speaker":"Unknown","startTime":455.52,"endTime":459.99,"body":"thing that he he wrote kind of a"},{"speaker":"Unknown","startTime":459.99,"endTime":463.05,"body":"long time ago. So it just goes"},{"speaker":"Unknown","startTime":459.99,"endTime":463.05,"body":"to show if you're writing stuff"},{"speaker":"Unknown","startTime":463.05,"endTime":465.96,"body":"that people are interested in,"},{"speaker":"Unknown","startTime":463.05,"endTime":465.96,"body":"it'll you can keep repurposing"},{"speaker":"Unknown","startTime":465.96,"endTime":467.7,"body":"that content. So"},{"speaker":"Nick Lincoln","startTime":469.26,"endTime":471.09,"body":"it's nice to see"},{"speaker":"Nick Lincoln","startTime":469.26,"endTime":471.09,"body":"Kenyan newspapers for the right"},{"speaker":"Nick Lincoln","startTime":471.09,"endTime":471.78,"body":"reasons this time."},{"speaker":"Nick Lincoln","startTime":477.69,"endTime":480.48,"body":"Mr. Smith, one of one of your"},{"speaker":"Nick Lincoln","startTime":477.69,"endTime":480.48,"body":"perennial one of your perennials"},{"speaker":"Nick Lincoln","startTime":480.48,"endTime":483.06,"body":"lumber loans, friend, yes."},{"speaker":"Alan Smith","startTime":483.66,"endTime":487.2,"body":"I'm never quite sure"},{"speaker":"Alan Smith","startTime":483.66,"endTime":487.2,"body":"whether to put this in topical"},{"speaker":"Alan Smith","startTime":487.2,"endTime":490.23,"body":"tip base or culture corner"},{"speaker":"Alan Smith","startTime":487.2,"endTime":490.23,"body":"because they're they can they"},{"speaker":"Alan Smith","startTime":490.23,"endTime":494.73,"body":"can be used in either either"},{"speaker":"Alan Smith","startTime":490.23,"endTime":494.73,"body":"sector anyway. Lombard loans we"},{"speaker":"Alan Smith","startTime":494.73,"endTime":496.95,"body":"have spoken about this before"},{"speaker":"Alan Smith","startTime":494.73,"endTime":496.95,"body":"raised it before there was a"},{"speaker":"Alan Smith","startTime":496.95,"endTime":502.65,"body":"company called Bond Smith that"},{"speaker":"Alan Smith","startTime":496.95,"endTime":502.65,"body":"launched to high profile and"},{"speaker":"Alan Smith","startTime":502.65,"endTime":505.32,"body":"subsequently closed down few"},{"speaker":"Alan Smith","startTime":502.65,"endTime":505.32,"body":"months later, because they"},{"speaker":"Alan Smith","startTime":505.32,"endTime":509.01,"body":"couldn't get the finance in"},{"speaker":"Alan Smith","startTime":505.32,"endTime":509.01,"body":"place. But just to position"},{"speaker":"Alan Smith","startTime":509.01,"endTime":512.91,"body":"this, there is a generally held"},{"speaker":"Alan Smith","startTime":509.01,"endTime":512.91,"body":"concept that wealthy people"},{"speaker":"Alan Smith","startTime":512.91,"endTime":516.87,"body":"don't pay tax, super wealthy who"},{"speaker":"Alan Smith","startTime":512.91,"endTime":516.87,"body":"don't pay much tax. And one of"},{"speaker":"Alan Smith","startTime":516.87,"endTime":523.02,"body":"the reasons you're right is the"},{"speaker":"Alan Smith","startTime":516.87,"endTime":523.02,"body":"they, they, they don't ever sell"},{"speaker":"Alan Smith","startTime":523.02,"endTime":527.04,"body":"assets, they borrow assets. The"},{"speaker":"Alan Smith","startTime":523.02,"endTime":527.04,"body":"most famous one, but in recent"},{"speaker":"Alan Smith","startTime":527.04,"endTime":531.27,"body":"times was Elon Musk, who"},{"speaker":"Alan Smith","startTime":527.04,"endTime":531.27,"body":"borrowed against his stock his"},{"speaker":"Alan Smith","startTime":531.27,"endTime":535.86,"body":"Tesla stock in order to fund the"},{"speaker":"Alan Smith","startTime":531.27,"endTime":535.86,"body":"purchase of Twitter, now known"},{"speaker":"Alan Smith","startTime":535.86,"endTime":541.8,"body":"as x. To give you an example"},{"speaker":"Alan Smith","startTime":535.86,"endTime":541.8,"body":"now, one of one of the this is"},{"speaker":"Alan Smith","startTime":541.8,"endTime":545.19,"body":"described, described as Lombard"},{"speaker":"Alan Smith","startTime":541.8,"endTime":545.19,"body":"loans. Obviously, the origins of"},{"speaker":"Alan Smith","startTime":545.19,"endTime":549.51,"body":"it go back to medieval Italy,"},{"speaker":"Alan Smith","startTime":545.19,"endTime":549.51,"body":"Lombardy region of Italy, where"},{"speaker":"Alan Smith","startTime":549.54,"endTime":553.47,"body":"wealthy merchants could borrow"},{"speaker":"Alan Smith","startTime":549.54,"endTime":553.47,"body":"against assets, buildings,"},{"speaker":"Alan Smith","startTime":553.47,"endTime":557.58,"body":"property, securities, etc, to"},{"speaker":"Alan Smith","startTime":553.47,"endTime":557.58,"body":"fund their various opportunities"},{"speaker":"Alan Smith","startTime":557.58,"endTime":560.88,"body":"and adventures. This has"},{"speaker":"Alan Smith","startTime":557.58,"endTime":560.88,"body":"historically been the domain of"},{"speaker":"Alan Smith","startTime":560.88,"endTime":564.6,"body":"the private banks, but I've been"},{"speaker":"Alan Smith","startTime":560.88,"endTime":564.6,"body":"on Wikipedia this morning. No,"},{"speaker":"Alan Smith","startTime":564.6,"endTime":567.96,"body":"no, I really wanted to go into"},{"speaker":"Alan Smith","startTime":564.6,"endTime":567.96,"body":"it and understand it a bit more"},{"speaker":"Alan Smith","startTime":567.96,"endTime":570.39,"body":"rather than just a throwaway"},{"speaker":"Alan Smith","startTime":567.96,"endTime":570.39,"body":"thing. And I think it's"},{"speaker":"Alan Smith","startTime":570.57,"endTime":574.65,"body":"potentially very, very useful"},{"speaker":"Alan Smith","startTime":570.57,"endTime":574.65,"body":"and valuable for the for"},{"speaker":"Alan Smith","startTime":574.65,"endTime":577.32,"body":"financial planners, financial"},{"speaker":"Alan Smith","startTime":574.65,"endTime":577.32,"body":"planners, with particularly with"},{"speaker":"Alan Smith","startTime":577.32,"endTime":579.84,"body":"those with wealthier clients,"},{"speaker":"Alan Smith","startTime":577.32,"endTime":579.84,"body":"because it has been the domain"},{"speaker":"Alan Smith","startTime":579.9,"endTime":583.86,"body":"than all those, you know, all"},{"speaker":"Alan Smith","startTime":579.9,"endTime":583.86,"body":"the ones are the famous names we"},{"speaker":"Alan Smith","startTime":583.86,"endTime":586.47,"body":"know and certainly wealthy"},{"speaker":"Alan Smith","startTime":583.86,"endTime":586.47,"body":"clients liked the idea whether"},{"speaker":"Alan Smith","startTime":586.47,"endTime":589.62,"body":"they use it all the time or not,"},{"speaker":"Alan Smith","startTime":586.47,"endTime":589.62,"body":"to know that if I've got, I"},{"speaker":"Alan Smith","startTime":589.62,"endTime":592.26,"body":"don't know, 5 million quid in an"},{"speaker":"Alan Smith","startTime":589.62,"endTime":592.26,"body":"investment portfolio and I need"},{"speaker":"Alan Smith","startTime":592.38,"endTime":597.33,"body":"300,000 outs to give to my kids"},{"speaker":"Alan Smith","startTime":592.38,"endTime":597.33,"body":"or to fund something or other. I"},{"speaker":"Alan Smith","startTime":597.33,"endTime":599.55,"body":"don't have to sell their assets"},{"speaker":"Alan Smith","startTime":597.33,"endTime":599.55,"body":"in order to do that and incur"},{"speaker":"Alan Smith","startTime":599.55,"endTime":602.01,"body":"capital gains. is tax and all"},{"speaker":"Alan Smith","startTime":599.55,"endTime":602.01,"body":"the other issues that go with"},{"speaker":"Alan Smith","startTime":602.01,"endTime":605.85,"body":"it. So there is a new company"},{"speaker":"Alan Smith","startTime":602.01,"endTime":605.85,"body":"that I've actually met with the"},{"speaker":"Alan Smith","startTime":605.85,"endTime":608.67,"body":"founder now, David Newman, and"},{"speaker":"Alan Smith","startTime":605.85,"endTime":608.67,"body":"he's got a highly credible"},{"speaker":"Alan Smith","startTime":608.67,"endTime":612.36,"body":"background in banking, worked at"},{"speaker":"Alan Smith","startTime":608.67,"endTime":612.36,"body":"UBS worked various other places,"},{"speaker":"Alan Smith","startTime":612.36,"endTime":614.82,"body":"seen it from the other side of"},{"speaker":"Alan Smith","startTime":612.36,"endTime":614.82,"body":"things, and wants to kind of"},{"speaker":"Alan Smith","startTime":614.82,"endTime":618.33,"body":"largely democratize this to, you"},{"speaker":"Alan Smith","startTime":614.82,"endTime":618.33,"body":"know, high end financial"},{"speaker":"Alan Smith","startTime":618.33,"endTime":622.35,"body":"planners, which we all are. So"},{"speaker":"Alan Smith","startTime":618.33,"endTime":622.35,"body":"he's now launched. Sorry, Nick,"},{"speaker":"Nick Lincoln","startTime":622.41,"endTime":624.9,"body":"do you want to"},{"speaker":"Nick Lincoln","startTime":622.41,"endTime":624.9,"body":"quickly is Mr. Newman, a friend"},{"speaker":"Nick Lincoln","startTime":624.9,"endTime":626.43,"body":"or a close personal friend?"},{"speaker":"Alan Smith","startTime":627.9,"endTime":630.21,"body":"Well, he was a"},{"speaker":"Alan Smith","startTime":627.9,"endTime":630.21,"body":"friend. But now having met him,"},{"speaker":"Alan Smith","startTime":630.24,"endTime":632.07,"body":"he's a close personal friend."},{"speaker":"Nick Lincoln","startTime":634.74,"endTime":636.06,"body":"Of the mark. Good."},{"speaker":"Nick Lincoln","startTime":634.74,"endTime":636.06,"body":"Sorry."},{"speaker":"Alan Smith","startTime":636.09,"endTime":638.52,"body":"Thank you. I've got"},{"speaker":"Alan Smith","startTime":636.09,"endTime":638.52,"body":"a couple more later. But anyway,"},{"speaker":"Alan Smith","startTime":638.52,"endTime":641.16,"body":"he's now a close, close friend."},{"speaker":"Alan Smith","startTime":638.52,"endTime":641.16,"body":"Thank you for that. So anyway,"},{"speaker":"Alan Smith","startTime":641.34,"endTime":645.48,"body":"this company called florenzi,"},{"speaker":"Alan Smith","startTime":641.34,"endTime":645.48,"body":"which is the Italian for"},{"speaker":"Alan Smith","startTime":645.48,"endTime":648.09,"body":"Florence, where the whole thing"},{"speaker":"Alan Smith","startTime":645.48,"endTime":648.09,"body":"began, is now up, up and"},{"speaker":"Alan Smith","startTime":648.09,"endTime":652.11,"body":"running, they are now open to"},{"speaker":"Alan Smith","startTime":648.09,"endTime":652.11,"body":"accepting loans from as low as"},{"speaker":"Alan Smith","startTime":652.11,"endTime":655.23,"body":"60,000 pounds. If you have a"},{"speaker":"Alan Smith","startTime":652.11,"endTime":655.23,"body":"client with a few quid that does"},{"speaker":"Alan Smith","startTime":655.23,"endTime":656.94,"body":"want access to capital,"},{"speaker":"Alan Smith","startTime":655.23,"endTime":656.94,"body":"obviously, there's so many other"},{"speaker":"Alan Smith","startTime":656.94,"endTime":659.49,"body":"good reasons for you people who"},{"speaker":"Alan Smith","startTime":656.94,"endTime":659.49,"body":"charged percentage of assets"},{"speaker":"Alan Smith","startTime":659.49,"endTime":663.39,"body":"fees as well, you don't take a"},{"speaker":"Alan Smith","startTime":659.49,"endTime":663.39,"body":"hit on your revenue. Like all"},{"speaker":"Alan Smith","startTime":663.39,"endTime":666.15,"body":"things go in with a with your"},{"speaker":"Alan Smith","startTime":663.39,"endTime":666.15,"body":"eyes wide open, be cautious"},{"speaker":"Alan Smith","startTime":666.15,"endTime":669.12,"body":"because it is a debt and"},{"speaker":"Alan Smith","startTime":666.15,"endTime":669.12,"body":"portfolios can fall whilst you"},{"speaker":"Alan Smith","startTime":669.12,"endTime":672.63,"body":"still got the debt, etc. But"},{"speaker":"Alan Smith","startTime":669.12,"endTime":672.63,"body":"I'll put a link in the show"},{"speaker":"Alan Smith","startTime":672.63,"endTime":675.87,"body":"notes. If anyone's interested in"},{"speaker":"Alan Smith","startTime":672.63,"endTime":675.87,"body":"looking into Lombard lending for"},{"speaker":"Alan Smith","startTime":675.87,"endTime":678.39,"body":"their clients, there is a"},{"speaker":"Alan Smith","startTime":675.87,"endTime":678.39,"body":"service now available outside of"},{"speaker":"Alan Smith","startTime":678.39,"endTime":681.39,"body":"the traditional routes, ie the"},{"speaker":"Alan Smith","startTime":678.39,"endTime":681.39,"body":"banks, Andrew"},{"speaker":"Andy Hart","startTime":682.23,"endTime":685.68,"body":"II, I think this"},{"speaker":"Andy Hart","startTime":682.23,"endTime":685.68,"body":"whole area is developing quite"},{"speaker":"Andy Hart","startTime":685.68,"endTime":687.93,"body":"aggressively at the moment,"},{"speaker":"Andy Hart","startTime":685.68,"endTime":687.93,"body":"there's quite a new, quite a few"},{"speaker":"Andy Hart","startTime":687.93,"endTime":692.1,"body":"new firms coming into play."},{"speaker":"Andy Hart","startTime":687.93,"endTime":692.1,"body":"Obviously, the CGT declining,"},{"speaker":"Andy Hart","startTime":692.55,"endTime":696.15,"body":"the assets on platforms,"},{"speaker":"Andy Hart","startTime":692.55,"endTime":696.15,"body":"becoming bigger and bigger,"},{"speaker":"Andy Hart","startTime":696.42,"endTime":698.85,"body":"independent advisors looking"},{"speaker":"Andy Hart","startTime":696.42,"endTime":698.85,"body":"after a wealthier and wealthier"},{"speaker":"Andy Hart","startTime":698.85,"endTime":702.39,"body":"clients, the private banks have"},{"speaker":"Andy Hart","startTime":698.85,"endTime":702.39,"body":"had an advantage, obviously,"},{"speaker":"Andy Hart","startTime":702.39,"endTime":705.3,"body":"because they do this lending"},{"speaker":"Andy Hart","startTime":702.39,"endTime":705.3,"body":"internally. I have heard those"},{"speaker":"Andy Hart","startTime":705.3,"endTime":707.94,"body":"rumors of the platforms, you"},{"speaker":"Andy Hart","startTime":705.3,"endTime":707.94,"body":"know, platform development,"},{"speaker":"Andy Hart","startTime":707.94,"endTime":713.25,"body":"which has been not too"},{"speaker":"Andy Hart","startTime":707.94,"endTime":713.25,"body":"innovative over the last few"},{"speaker":"Andy Hart","startTime":713.25,"endTime":715.59,"body":"years, I think platforms are"},{"speaker":"Andy Hart","startTime":713.25,"endTime":715.59,"body":"going to potentially do this in"},{"speaker":"Andy Hart","startTime":715.59,"endTime":718.77,"body":"house. Again, I don't know if"},{"speaker":"Andy Hart","startTime":715.59,"endTime":718.77,"body":"they're going to be lending"},{"speaker":"Andy Hart","startTime":718.77,"endTime":721.71,"body":"their own money, or they're"},{"speaker":"Andy Hart","startTime":718.77,"endTime":721.71,"body":"going to be sort of tying up"},{"speaker":"Andy Hart","startTime":721.71,"endTime":724.38,"body":"with someone else that's going"},{"speaker":"Andy Hart","startTime":721.71,"endTime":724.38,"body":"to be able to sort of allow this"},{"speaker":"Andy Hart","startTime":724.38,"endTime":729.3,"body":"facility. So yeah, it's an"},{"speaker":"Andy Hart","startTime":724.38,"endTime":729.3,"body":"interesting space. Yeah, the"},{"speaker":"Andy Hart","startTime":729.3,"endTime":731.22,"body":"more things we can offer to our"},{"speaker":"Andy Hart","startTime":729.3,"endTime":731.22,"body":"clients that are the better"},{"speaker":"Andy Hart","startTime":731.7,"endTime":734.94,"body":"genuine investment accounts is"},{"speaker":"Andy Hart","startTime":731.7,"endTime":734.94,"body":"normally where you could lend"},{"speaker":"Andy Hart","startTime":734.94,"endTime":739.17,"body":"against some of the large"},{"speaker":"Andy Hart","startTime":734.94,"endTime":739.17,"body":"private banks, larger wealth"},{"speaker":"Andy Hart","startTime":739.17,"endTime":742.86,"body":"managers lend against social"},{"speaker":"Andy Hart","startTime":739.17,"endTime":742.86,"body":"bonds. I don't quite know why"},{"speaker":"Andy Hart","startTime":742.86,"endTime":745.89,"body":"you can't lend against ISIS,"},{"speaker":"Andy Hart","startTime":742.86,"endTime":745.89,"body":"because that would seem obvious."},{"speaker":"Andy Hart","startTime":746.19,"endTime":749.79,"body":"The Pensions, which is where"},{"speaker":"Andy Hart","startTime":746.19,"endTime":749.79,"body":"most of the assets are held. For"},{"speaker":"Andy Hart","startTime":749.79,"endTime":752.82,"body":"typical clients 50 60%. For"},{"speaker":"Andy Hart","startTime":749.79,"endTime":752.82,"body":"wealthier clients, it's probably"},{"speaker":"Andy Hart","startTime":752.82,"endTime":755.46,"body":"a lower percentage. But again,"},{"speaker":"Andy Hart","startTime":752.82,"endTime":755.46,"body":"they can't really then against"},{"speaker":"Andy Hart","startTime":755.46,"endTime":758.13,"body":"the pensions for various"},{"speaker":"Andy Hart","startTime":755.46,"endTime":758.13,"body":"reasons, access reasons or"},{"speaker":"Andy Hart","startTime":758.13,"endTime":760.5,"body":"various other stuff. But again,"},{"speaker":"Andy Hart","startTime":758.13,"endTime":760.5,"body":"some innovative companies might"},{"speaker":"Andy Hart","startTime":760.5,"endTime":763.95,"body":"come along and sort of get into"},{"speaker":"Andy Hart","startTime":760.5,"endTime":763.95,"body":"that space. So yeah, it is very"},{"speaker":"Andy Hart","startTime":763.95,"endTime":765.48,"body":"interesting. Yep."},{"speaker":"Nick Lincoln","startTime":766.71,"endTime":769.02,"body":"Okay, good stuff."},{"speaker":"Nick Lincoln","startTime":766.71,"endTime":769.02,"body":"Thank you back to you voice,"},{"speaker":"Nick Lincoln","startTime":769.17,"endTime":773.61,"body":"your Irish ideas exchange."},{"speaker":"Nick Lincoln","startTime":769.17,"endTime":773.61,"body":"Indeed."},{"speaker":"Unknown","startTime":773.64,"endTime":776.67,"body":"So the first the"},{"speaker":"Unknown","startTime":773.64,"endTime":776.67,"body":"inaugural meeting of the Irish"},{"speaker":"Unknown","startTime":776.67,"endTime":780.36,"body":"ideas exchange happened last"},{"speaker":"Unknown","startTime":776.67,"endTime":780.36,"body":"week. So there was 12 people, I"},{"speaker":"Unknown","startTime":780.36,"endTime":783.21,"body":"think, in the room. And I"},{"speaker":"Unknown","startTime":780.36,"endTime":783.21,"body":"suppose the first meeting was"},{"speaker":"Unknown","startTime":783.21,"endTime":786.54,"body":"just about setting the"},{"speaker":"Unknown","startTime":783.21,"endTime":786.54,"body":"parameters and the rules and"},{"speaker":"Unknown","startTime":786.54,"endTime":789.66,"body":"that kind of stuff. So it was it"},{"speaker":"Unknown","startTime":786.54,"endTime":789.66,"body":"was really good to get in the"},{"speaker":"Unknown","startTime":789.66,"endTime":793.8,"body":"room to chat with everybody. We"},{"speaker":"Unknown","startTime":789.66,"endTime":793.8,"body":"kind of did a brief intro to"},{"speaker":"Unknown","startTime":793.8,"endTime":797.91,"body":"each other about a known, you"},{"speaker":"Unknown","startTime":793.8,"endTime":797.91,"body":"know, probably a good few of the"},{"speaker":"Unknown","startTime":797.91,"endTime":799.98,"body":"people in the room, but but"},{"speaker":"Unknown","startTime":797.91,"endTime":799.98,"body":"certainly didn't know one or"},{"speaker":"Unknown","startTime":799.98,"endTime":804.57,"body":"two. So yeah, look, we've we've"},{"speaker":"Unknown","startTime":799.98,"endTime":804.57,"body":"said, two more meetings kind of"},{"speaker":"Unknown","startTime":804.57,"endTime":807.87,"body":"decided the summer, we're going"},{"speaker":"Unknown","startTime":804.57,"endTime":807.87,"body":"to do a cadence of maybe once"},{"speaker":"Unknown","startTime":807.87,"endTime":810.87,"body":"every couple of months. And"},{"speaker":"Unknown","startTime":807.87,"endTime":810.87,"body":"looking forward to see how it"},{"speaker":"Unknown","startTime":810.87,"endTime":814.17,"body":"goes. It's we're all feeling our"},{"speaker":"Unknown","startTime":810.87,"endTime":814.17,"body":"way through it a little bit. But"},{"speaker":"Unknown","startTime":814.17,"endTime":817.44,"body":"we did bring in based on your"},{"speaker":"Unknown","startTime":814.17,"endTime":817.44,"body":"feedback, a facilitator aim to"},{"speaker":"Unknown","startTime":817.44,"endTime":820.5,"body":"me, and that works really well."},{"speaker":"Unknown","startTime":817.44,"endTime":820.5,"body":"And I think that's one of the"},{"speaker":"Unknown","startTime":820.5,"endTime":823.95,"body":"keys to success for going"},{"speaker":"Unknown","startTime":820.5,"endTime":823.95,"body":"forward that there's some kind"},{"speaker":"Unknown","startTime":823.95,"endTime":826.77,"body":"of keeping us sticking to"},{"speaker":"Unknown","startTime":823.95,"endTime":826.77,"body":"agendas and that kind of stuff."},{"speaker":"Alan Smith","startTime":860.38,"endTime":863.0799999999999,"body":"Yeah, just"},{"speaker":"Alan Smith","startTime":860.38,"endTime":863.0799999999999,"body":"congratulations on that getting"},{"speaker":"Alan Smith","startTime":863.0799999999999,"endTime":864.76,"body":"off the ground. And you're"},{"speaker":"Alan Smith","startTime":863.0799999999999,"endTime":864.76,"body":"right, you sort of you just got"},{"speaker":"Alan Smith","startTime":864.76,"endTime":868.27,"body":"to it's a mini experiment you"},{"speaker":"Alan Smith","startTime":864.76,"endTime":868.27,"body":"do. Do three or four or five"},{"speaker":"Alan Smith","startTime":868.27,"endTime":871.63,"body":"meetings, see how you get on and"},{"speaker":"Alan Smith","startTime":868.27,"endTime":871.63,"body":"progress it. Just as an aside"},{"speaker":"Alan Smith","startTime":871.66,"endTime":874.5699999999999,"body":"and relevant to this you know,"},{"speaker":"Alan Smith","startTime":871.66,"endTime":874.5699999999999,"body":"we've we've all believed in the"},{"speaker":"Alan Smith","startTime":874.5699999999999,"endTime":877.24,"body":"concept we've raised this before"},{"speaker":"Alan Smith","startTime":874.5699999999999,"endTime":877.24,"body":"column mastermind groups Call it"},{"speaker":"Alan Smith","startTime":877.24,"endTime":879.37,"body":"what you will a group of like"},{"speaker":"Alan Smith","startTime":877.24,"endTime":879.37,"body":"minded people who get together"},{"speaker":"Alan Smith","startTime":879.37,"endTime":882.5799999999999,"body":"share their thoughts, ideas,"},{"speaker":"Alan Smith","startTime":879.37,"endTime":882.5799999999999,"body":"best practice. I met with an"},{"speaker":"Alan Smith","startTime":882.5799999999999,"endTime":886.3299999999999,"body":"advisor last week from Scotland"},{"speaker":"Alan Smith","startTime":882.5799999999999,"endTime":886.3299999999999,"body":"based in Glasgow, she was"},{"speaker":"Alan Smith","startTime":886.3299999999999,"endTime":889.27,"body":"talking about doing the same"},{"speaker":"Alan Smith","startTime":886.3299999999999,"endTime":889.27,"body":"thing. There is every reason for"},{"speaker":"Alan Smith","startTime":889.27,"endTime":892.54,"body":"this to do this regionally,"},{"speaker":"Alan Smith","startTime":889.27,"endTime":892.54,"body":"wherever wherever you are in"},{"speaker":"Alan Smith","startTime":892.5699999999999,"endTime":895.5999999999999,"body":"Scotland, McGrew, Manchester,"},{"speaker":"Alan Smith","startTime":892.5699999999999,"endTime":895.5999999999999,"body":"the West Coast, East Coast or"},{"speaker":"Alan Smith","startTime":895.5999999999999,"endTime":901.18,"body":"whatever, wherever you want to"},{"speaker":"Alan Smith","startTime":895.5999999999999,"endTime":901.18,"body":"do it. So most of us would know"},{"speaker":"Alan Smith","startTime":901.18,"endTime":904.2099999999999,"body":"who are the better firms, the"},{"speaker":"Alan Smith","startTime":901.18,"endTime":904.2099999999999,"body":"ones you want to sit in a room"},{"speaker":"Alan Smith","startTime":904.2099999999999,"endTime":907.9,"body":"with and sort of share thoughts"},{"speaker":"Alan Smith","startTime":904.2099999999999,"endTime":907.9,"body":"and ideas and if anyone is of a"},{"speaker":"Alan Smith","startTime":907.9,"endTime":910.63,"body":"mind to do it, and we have we"},{"speaker":"Alan Smith","startTime":907.9,"endTime":910.63,"body":"have a previous podcast, we do"},{"speaker":"Alan Smith","startTime":910.63,"endTime":915.0699999999999,"body":"talk about this. I think it was"},{"speaker":"Alan Smith","startTime":910.63,"endTime":915.0699999999999,"body":"a question. Find the firm's"},{"speaker":"Alan Smith","startTime":915.0999999999999,"endTime":917.17,"body":"reach out to them, send them a"},{"speaker":"Alan Smith","startTime":915.0999999999999,"endTime":917.17,"body":"message. Just say thinking of"},{"speaker":"Alan Smith","startTime":917.17,"endTime":919.24,"body":"doing this an experiment, you"},{"speaker":"Alan Smith","startTime":917.17,"endTime":919.24,"body":"know, get in the room, let's"},{"speaker":"Alan Smith","startTime":919.24,"endTime":922.4499999999999,"body":"meet three or four times see how"},{"speaker":"Alan Smith","startTime":919.24,"endTime":922.4499999999999,"body":"we all get on. It doesn't work."},{"speaker":"Alan Smith","startTime":922.4499999999999,"endTime":924.9699999999999,"body":"It doesn't work, no harm done."},{"speaker":"Alan Smith","startTime":922.4499999999999,"endTime":924.9699999999999,"body":"So if you're listening to this,"},{"speaker":"Alan Smith","startTime":924.9699999999999,"endTime":927.76,"body":"you want to start your own"},{"speaker":"Alan Smith","startTime":924.9699999999999,"endTime":927.76,"body":"mastermind group. Go ahead."},{"speaker":"Alan Smith","startTime":927.76,"endTime":928.66,"body":"There's nothing stopping you"},{"speaker":"Unknown","startTime":930.04,"endTime":932.92,"body":"Totally agree. And it's"},{"speaker":"Unknown","startTime":930.04,"endTime":932.92,"body":"like, there's different"},{"speaker":"Unknown","startTime":932.92,"endTime":935.05,"body":"backgrounds within the group."},{"speaker":"Unknown","startTime":932.92,"endTime":935.05,"body":"Some people are starting the"},{"speaker":"Unknown","startTime":935.05,"endTime":937.9599999999999,"body":"financial planning journey that"},{"speaker":"Unknown","startTime":935.05,"endTime":937.9599999999999,"body":"can actually only add to us, you"},{"speaker":"Unknown","startTime":937.9599999999999,"endTime":941.62,"body":"know, because there's different"},{"speaker":"Unknown","startTime":937.9599999999999,"endTime":941.62,"body":"points of view and makes you"},{"speaker":"Unknown","startTime":941.62,"endTime":944.1999999999999,"body":"kind of sit back and think a"},{"speaker":"Unknown","startTime":941.62,"endTime":944.1999999999999,"body":"small bit as well. And the other"},{"speaker":"Unknown","startTime":944.1999999999999,"endTime":948.16,"body":"thing apparently, there was a"},{"speaker":"Unknown","startTime":944.1999999999999,"endTime":948.16,"body":"few people who didn't weren't in"},{"speaker":"Unknown","startTime":948.16,"endTime":950.7099999999999,"body":"touch me, but we're disappointed"},{"speaker":"Unknown","startTime":948.16,"endTime":950.7099999999999,"body":"that they weren't in the room."},{"speaker":"Unknown","startTime":950.7099999999999,"endTime":954.76,"body":"So maybe we can look at"},{"speaker":"Unknown","startTime":950.7099999999999,"endTime":954.76,"body":"developing us out a little bit"},{"speaker":"Unknown","startTime":954.76,"endTime":958.24,"body":"more. But I think we just run"},{"speaker":"Unknown","startTime":954.76,"endTime":958.24,"body":"with the people who have agreed"},{"speaker":"Unknown","startTime":958.24,"endTime":962.53,"body":"to be in the at the start and"},{"speaker":"Unknown","startTime":958.24,"endTime":962.53,"body":"see where it goes. So all good."},{"speaker":"Unknown","startTime":962.62,"endTime":963.9399999999999,"body":"All good. Yeah. Yeah,"},{"speaker":"Nick Lincoln","startTime":963.9399999999999,"endTime":965.41,"body":"you want it you"},{"speaker":"Nick Lincoln","startTime":963.9399999999999,"endTime":965.41,"body":"want to keep some exclusivity,"},{"speaker":"Nick Lincoln","startTime":965.41,"endTime":967.18,"body":"don't worry about it as well."},{"speaker":"Nick Lincoln","startTime":965.41,"endTime":967.18,"body":"You want to make you want to you"},{"speaker":"Nick Lincoln","startTime":967.18,"endTime":969.13,"body":"want to make an aspirational"},{"speaker":"Nick Lincoln","startTime":967.18,"endTime":969.13,"body":"thing that people are waiting to"},{"speaker":"Nick Lincoln","startTime":969.13,"endTime":972.2199999999999,"body":"get into rather than opening up"},{"speaker":"Nick Lincoln","startTime":969.13,"endTime":972.2199999999999,"body":"to exactly Yeah, exactly."},{"speaker":"Nick Lincoln","startTime":972.4599999999999,"endTime":976.3,"body":"Exactly. Okay. smithy, you've"},{"speaker":"Nick Lincoln","startTime":972.4599999999999,"endTime":976.3,"body":"been on a couple of podcasts"},{"speaker":"Nick Lincoln","startTime":976.3,"endTime":979.18,"body":"recently. I listened to the SAM"},{"speaker":"Nick Lincoln","startTime":976.3,"endTime":979.18,"body":"oaks one that was that was that"},{"speaker":"Nick Lincoln","startTime":979.18,"endTime":982.36,"body":"was very good. And you you were"},{"speaker":"Nick Lincoln","startTime":979.18,"endTime":982.36,"body":"on form in terms of ABC always"},{"speaker":"Nick Lincoln","startTime":982.36,"endTime":984.43,"body":"be closing around trap. And so"},{"speaker":"Nick Lincoln","startTime":982.36,"endTime":984.43,"body":"yeah, did include quite a bit of"},{"speaker":"Nick Lincoln","startTime":984.43,"endTime":986.92,"body":"content about travel. That's"},{"speaker":"Nick Lincoln","startTime":984.43,"endTime":986.92,"body":"good to tell us about it."},{"speaker":"Alan Smith","startTime":988.5999999999999,"endTime":990.37,"body":"Some oaks, if you"},{"speaker":"Alan Smith","startTime":988.5999999999999,"endTime":990.37,"body":"haven't listened to it has got a"},{"speaker":"Alan Smith","startTime":990.37,"endTime":995.4399999999999,"body":"fabulous podcast. It's highly"},{"speaker":"Alan Smith","startTime":990.37,"endTime":995.4399999999999,"body":"professional. And unlike this"},{"speaker":"Alan Smith","startTime":995.4399999999999,"endTime":999.4599999999999,"body":"one, possibly it's just a great"},{"speaker":"Alan Smith","startTime":995.4399999999999,"endTime":999.4599999999999,"body":"point is is a great podcast host"},{"speaker":"Alan Smith","startTime":999.4599999999999,"endTime":1001.89,"body":"high energy guy. And he didn't"},{"speaker":"Alan Smith","startTime":999.4599999999999,"endTime":1001.89,"body":"he turns around quite quickly"},{"speaker":"Alan Smith","startTime":1001.9499999999999,"endTime":1006.06,"body":"puts it out on YouTube, etc. But"},{"speaker":"Alan Smith","startTime":1001.9499999999999,"endTime":1006.06,"body":"yeah, if those if you're"},{"speaker":"Alan Smith","startTime":1006.06,"endTime":1008.8499999999999,"body":"listening to this, and you want"},{"speaker":"Alan Smith","startTime":1006.06,"endTime":1008.8499999999999,"body":"to check it out, it's quite a"},{"speaker":"Alan Smith","startTime":1008.8499999999999,"endTime":1012.12,"body":"broad spectrum. He goes deep"},{"speaker":"Alan Smith","startTime":1008.8499999999999,"endTime":1012.12,"body":"into kind of career career"},{"speaker":"Alan Smith","startTime":1012.12,"endTime":1013.92,"body":"things naturally, I think behind"},{"speaker":"Alan Smith","startTime":1012.12,"endTime":1013.92,"body":"the scenes, he's got a"},{"speaker":"Alan Smith","startTime":1013.92,"endTime":1016.89,"body":"successful recruitment company,"},{"speaker":"Alan Smith","startTime":1013.92,"endTime":1016.89,"body":"great podcast, I was happy to be"},{"speaker":"Alan Smith","startTime":1016.89,"endTime":1020.9399999999999,"body":"on it. Of course, we did spend"},{"speaker":"Alan Smith","startTime":1016.89,"endTime":1020.9399999999999,"body":"some time talking about trap and"},{"speaker":"Alan Smith","startTime":1021.0,"endTime":1023.79,"body":"what it's all about and the"},{"speaker":"Alan Smith","startTime":1021.0,"endTime":1023.79,"body":"benefits of it. So do listening"},{"speaker":"Alan Smith","startTime":1023.79,"endTime":1026.58,"body":"to that. I've also been an on"},{"speaker":"Alan Smith","startTime":1023.79,"endTime":1026.58,"body":"another one which will come out"},{"speaker":"Alan Smith","startTime":1026.58,"endTime":1028.92,"body":"I think will come out as people"},{"speaker":"Alan Smith","startTime":1026.58,"endTime":1028.92,"body":"are listening to this and might"},{"speaker":"Alan Smith","startTime":1028.92,"endTime":1033.42,"body":"come out tomorrow, which again,"},{"speaker":"Alan Smith","startTime":1028.92,"endTime":1033.42,"body":"ABC always be closing lots of"},{"speaker":"Alan Smith","startTime":1033.42,"endTime":1037.47,"body":"conversations around traps. So"},{"speaker":"Alan Smith","startTime":1033.42,"endTime":1037.47,"body":"definitely worth checking that"},{"speaker":"Alan Smith","startTime":1037.47,"endTime":1042.18,"body":"out. The other one that I would"},{"speaker":"Alan Smith","startTime":1037.47,"endTime":1042.18,"body":"point out is the the award"},{"speaker":"Alan Smith","startTime":1042.18,"endTime":1046.1100000000001,"body":"winning podcast that I host just"},{"speaker":"Alan Smith","startTime":1042.18,"endTime":1046.1100000000001,"body":"called which I hardly ever"},{"speaker":"Alan Smith","startTime":1046.1100000000001,"endTime":1049.53,"body":"mentioned on this but every now"},{"speaker":"Alan Smith","startTime":1046.1100000000001,"endTime":1049.53,"body":"and again, I do host one on"},{"speaker":"Alan Smith","startTime":1049.53,"endTime":1052.77,"body":"bulletproof entrepreneur, which"},{"speaker":"Alan Smith","startTime":1049.53,"endTime":1052.77,"body":"I think is really relevant to to"},{"speaker":"Alan Smith","startTime":1052.77,"endTime":1057.36,"body":"financial planners. Most recent"},{"speaker":"Alan Smith","startTime":1052.77,"endTime":1057.36,"body":"episode of bulletproof is ladies"},{"speaker":"Alan Smith","startTime":1057.36,"endTime":1059.82,"body":"me speaking with a lady called"},{"speaker":"Alan Smith","startTime":1057.36,"endTime":1059.82,"body":"Christine Nicholson who's a"},{"speaker":"Alan Smith","startTime":1060.27,"endTime":1063.6599999999999,"body":"successful serial entrepreneur."},{"speaker":"Alan Smith","startTime":1060.27,"endTime":1063.6599999999999,"body":"She's built and sold and exited"},{"speaker":"Alan Smith","startTime":1063.8999999999999,"endTime":1066.93,"body":"several businesses. She's also"},{"speaker":"Alan Smith","startTime":1063.8999999999999,"endTime":1066.93,"body":"she's business mentor, British"},{"speaker":"Alan Smith","startTime":1066.93,"endTime":1070.02,"body":"business mentor of the year. So"},{"speaker":"Alan Smith","startTime":1066.93,"endTime":1070.02,"body":"she's very, very successful. But"},{"speaker":"Alan Smith","startTime":1070.02,"endTime":1074.34,"body":"I was just, if you as a as an"},{"speaker":"Alan Smith","startTime":1070.02,"endTime":1074.34,"body":"advisor, as a financial planner,"},{"speaker":"Alan Smith","startTime":1074.37,"endTime":1077.82,"body":"if you look of look after"},{"speaker":"Alan Smith","startTime":1074.37,"endTime":1077.82,"body":"business owner clients, it's"},{"speaker":"Alan Smith","startTime":1077.82,"endTime":1080.43,"body":"well worth an hour or so of"},{"speaker":"Alan Smith","startTime":1077.82,"endTime":1080.43,"body":"listening to that podcast,"},{"speaker":"Alan Smith","startTime":1080.46,"endTime":1083.07,"body":"honestly, listen back to it last"},{"speaker":"Alan Smith","startTime":1080.46,"endTime":1083.07,"body":"week. And I thought, Man, this"},{"speaker":"Alan Smith","startTime":1083.07,"endTime":1086.46,"body":"is just full of golden nuggets."},{"speaker":"Alan Smith","startTime":1083.07,"endTime":1086.46,"body":"And she she provides access to a"},{"speaker":"Alan Smith","startTime":1086.46,"endTime":1089.04,"body":"number of tools and online"},{"speaker":"Alan Smith","startTime":1086.46,"endTime":1089.04,"body":"things that you could point"},{"speaker":"Alan Smith","startTime":1089.04,"endTime":1091.56,"body":"clients to that are of interest."},{"speaker":"Alan Smith","startTime":1089.04,"endTime":1091.56,"body":"So if you do look after business"},{"speaker":"Alan Smith","startTime":1091.56,"endTime":1094.98,"body":"owners, check out that podcast I"},{"speaker":"Alan Smith","startTime":1091.56,"endTime":1094.98,"body":"Thank you."},{"speaker":"Nick Lincoln","startTime":1095.8799999999999,"endTime":1097.74,"body":"Excellent. And"},{"speaker":"Nick Lincoln","startTime":1095.8799999999999,"endTime":1097.74,"body":"there are links to those"},{"speaker":"Nick Lincoln","startTime":1097.77,"endTime":1102.36,"body":"episodes that the ones that are"},{"speaker":"Nick Lincoln","startTime":1097.77,"endTime":1102.36,"body":"out in the so called show notes."},{"speaker":"Nick Lincoln","startTime":1102.3899999999999,"endTime":1108.06,"body":"Okie dokie. Me? Yes, I'm sure we"},{"speaker":"Nick Lincoln","startTime":1102.3899999999999,"endTime":1108.06,"body":"saw that again. Again. So it's"},{"speaker":"Nick Lincoln","startTime":1108.06,"endTime":1110.67,"body":"not the same thing. But it's"},{"speaker":"Nick Lincoln","startTime":1108.06,"endTime":1110.67,"body":"another ripple. You no matter"},{"speaker":"Nick Lincoln","startTime":1110.67,"endTime":1112.71,"body":"announces its first dividend"},{"speaker":"Nick Lincoln","startTime":1110.67,"endTime":1112.71,"body":"that's a bit of a landmark and"},{"speaker":"Nick Lincoln","startTime":1112.71,"endTime":1117.45,"body":"the Nikkei, the Nikkei, the the"},{"speaker":"Nick Lincoln","startTime":1112.71,"endTime":1117.45,"body":"Japanese stock market is finally"},{"speaker":"Nick Lincoln","startTime":1118.05,"endTime":1122.58,"body":"finally back to the levels it"},{"speaker":"Nick Lincoln","startTime":1118.05,"endTime":1122.58,"body":"was in, in 1989. And then"},{"speaker":"Andy Hart","startTime":1123.6299999999999,"endTime":1126.96,"body":"a temporary decline?"},{"speaker":"Andy Hart","startTime":1123.6299999999999,"endTime":1126.96,"body":"Oh, yeah. For the for the"},{"speaker":"Andy Hart","startTime":1126.96,"endTime":1127.26,"body":"younger"},{"speaker":"Nick Lincoln","startTime":1127.26,"endTime":1129.45,"body":"listeners, the"},{"speaker":"Nick Lincoln","startTime":1127.26,"endTime":1129.45,"body":"Japanese stock market in 1989."},{"speaker":"Nick Lincoln","startTime":1129.45,"endTime":1133.35,"body":"Got to just insane levels. I"},{"speaker":"Nick Lincoln","startTime":1129.45,"endTime":1133.35,"body":"think at one stage, the Japanese"},{"speaker":"Nick Lincoln","startTime":1133.35,"endTime":1135.84,"body":"stock market was worth more than"},{"speaker":"Nick Lincoln","startTime":1133.35,"endTime":1135.84,"body":"all of the real estate in"},{"speaker":"Nick Lincoln","startTime":1135.84,"endTime":1140.34,"body":"California in 1989, which was"},{"speaker":"Nick Lincoln","startTime":1135.84,"endTime":1140.34,"body":"just nuts. No, no, no, no, no."},{"speaker":"Andy Hart","startTime":1141.42,"endTime":1143.97,"body":"No, it was the"},{"speaker":"Andy Hart","startTime":1141.42,"endTime":1143.97,"body":"Japanese emperor's palace,"},{"speaker":"Andy Hart","startTime":1144.0,"endTime":1147.42,"body":"correct land that was worth more"},{"speaker":"Andy Hart","startTime":1144.0,"endTime":1147.42,"body":"than the entire land California,"},{"speaker":"Andy Hart","startTime":1147.42,"endTime":1149.58,"body":"something like that. Which"},{"speaker":"Alan Smith","startTime":1150.36,"endTime":1153.21,"body":"was representative"},{"speaker":"Alan Smith","startTime":1150.36,"endTime":1153.21,"body":"of the Japanese economy in the"},{"speaker":"Alan Smith","startTime":1153.21,"endTime":1155.76,"body":"1980s. Just everything real"},{"speaker":"Alan Smith","startTime":1153.21,"endTime":1155.76,"body":"estate, property, equities."},{"speaker":"Alan Smith","startTime":1155.76,"endTime":1159.03,"body":"Everything was just off the"},{"speaker":"Alan Smith","startTime":1155.76,"endTime":1159.03,"body":"scale. And of course, it's"},{"speaker":"Alan Smith","startTime":1159.03,"endTime":1161.8799999999999,"body":"taking 30 something years to"},{"speaker":"Alan Smith","startTime":1159.03,"endTime":1161.8799999999999,"body":"come back. Does that mean that"},{"speaker":"Alan Smith","startTime":1161.8799999999999,"endTime":1164.3999999999999,"body":"all these people on Twitter who"},{"speaker":"Alan Smith","startTime":1161.8799999999999,"endTime":1164.3999999999999,"body":"say, What"},{"speaker":"Andy Hart","startTime":1164.3999999999999,"endTime":1168.69,"body":"about Japan? What"},{"speaker":"Andy Hart","startTime":1164.3999999999999,"endTime":1168.69,"body":"about Japan? They just told"},{"speaker":"Andy Hart","startTime":1168.69,"endTime":1171.8999999999999,"body":"Twitter to just reply back to"},{"speaker":"Andy Hart","startTime":1168.69,"endTime":1171.8999999999999,"body":"people that say, Oh, well"},{"speaker":"Andy Hart","startTime":1171.8999999999999,"endTime":1174.84,"body":"diversified global equity we"},{"speaker":"Andy Hart","startTime":1171.8999999999999,"endTime":1174.84,"body":"have what about Japan? I would"},{"speaker":"Andy Hart","startTime":1174.84,"endTime":1175.95,"body":"imagine what Japan"},{"speaker":"Nick Lincoln","startTime":1175.98,"endTime":1178.68,"body":"is it is it is a"},{"speaker":"Nick Lincoln","startTime":1175.98,"endTime":1178.68,"body":"lifetime ago, isn't it? Really"},{"speaker":"Nick Lincoln","startTime":1178.71,"endTime":1181.29,"body":"it's but there wasn't a problem"},{"speaker":"Nick Lincoln","startTime":1178.71,"endTime":1181.29,"body":"with Japan. And then the market"},{"speaker":"Nick Lincoln","startTime":1182.49,"endTime":1184.92,"body":"isn't the worker and the"},{"speaker":"Nick Lincoln","startTime":1182.49,"endTime":1184.92,"body":"companies were lending to each"},{"speaker":"Nick Lincoln","startTime":1184.92,"endTime":1190.5,"body":"other there was there were very"},{"speaker":"Nick Lincoln","startTime":1184.92,"endTime":1190.5,"body":"opaque, opaque corporate"},{"speaker":"Nick Lincoln","startTime":1190.5,"endTime":1194.25,"body":"governance. And it's taken a"},{"speaker":"Nick Lincoln","startTime":1190.5,"endTime":1194.25,"body":"long while to unwind that we had"},{"speaker":"Nick Lincoln","startTime":1194.25,"endTime":1197.28,"body":"that guy who came in Eva nomics"},{"speaker":"Nick Lincoln","startTime":1194.25,"endTime":1197.28,"body":"comment was certainly that Prime"},{"speaker":"Nick Lincoln","startTime":1197.28,"endTime":1200.04,"body":"Minister came in and kind of"},{"speaker":"Nick Lincoln","startTime":1197.28,"endTime":1200.04,"body":"radicalized and reformed the the"},{"speaker":"Nick Lincoln","startTime":1200.04,"endTime":1201.78,"body":"Japanese kind of thing. It's"},{"speaker":"Nick Lincoln","startTime":1200.04,"endTime":1201.78,"body":"actually passed away, isn't it?"},{"speaker":"Nick Lincoln","startTime":1202.44,"endTime":1205.98,"body":"Yeah. So interesting. And I put"},{"speaker":"Nick Lincoln","startTime":1202.44,"endTime":1205.98,"body":"a little substack out on it."},{"speaker":"Nick Lincoln","startTime":1207.06,"endTime":1209.8799999999999,"body":"Just just just harping back to"},{"speaker":"Nick Lincoln","startTime":1207.06,"endTime":1209.8799999999999,"body":"1989. And what's happened since"},{"speaker":"Nick Lincoln","startTime":1209.8799999999999,"endTime":1212.52,"body":"then, and the fact that Yeah,"},{"speaker":"Nick Lincoln","startTime":1209.8799999999999,"endTime":1212.52,"body":"but Japanese, you know, okay,"},{"speaker":"Nick Lincoln","startTime":1212.79,"endTime":1215.58,"body":"for the people that do So Japan"},{"speaker":"Nick Lincoln","startTime":1212.79,"endTime":1215.58,"body":"is the example the markets don't"},{"speaker":"Nick Lincoln","startTime":1215.85,"endTime":1219.75,"body":"take for it. Well, okay. So, in"},{"speaker":"Nick Lincoln","startTime":1215.85,"endTime":1219.75,"body":"our portfolios, it's about 6% of"},{"speaker":"Nick Lincoln","startTime":1219.75,"endTime":1222.87,"body":"the of the market waiting, just"},{"speaker":"Nick Lincoln","startTime":1219.75,"endTime":1222.87,"body":"another example to diversify."},{"speaker":"Nick Lincoln","startTime":1222.87,"endTime":1225.0,"body":"You don't know what's going to"},{"speaker":"Nick Lincoln","startTime":1222.87,"endTime":1225.0,"body":"happen, right? You we've got no"},{"speaker":"Nick Lincoln","startTime":1225.0,"endTime":1227.49,"body":"idea what's gonna happen going"},{"speaker":"Nick Lincoln","startTime":1225.0,"endTime":1227.49,"body":"forward. I'm sure in 1989, there"},{"speaker":"Nick Lincoln","startTime":1227.49,"endTime":1231.45,"body":"were many people who put all"},{"speaker":"Nick Lincoln","startTime":1227.49,"endTime":1231.45,"body":"their money into into the"},{"speaker":"Nick Lincoln","startTime":1231.45,"endTime":1234.87,"body":"nicotine have never never"},{"speaker":"Nick Lincoln","startTime":1231.45,"endTime":1234.87,"body":"recovered. Because, you know, 35"},{"speaker":"Nick Lincoln","startTime":1234.87,"endTime":1238.56,"body":"years is a is a long, long time"},{"speaker":"Nick Lincoln","startTime":1234.87,"endTime":1238.56,"body":"to wait for your for your for"},{"speaker":"Nick Lincoln","startTime":1238.56,"endTime":1242.22,"body":"your temporary decline to"},{"speaker":"Nick Lincoln","startTime":1238.56,"endTime":1242.22,"body":"evaporate and become a permanent"},{"speaker":"Nick Lincoln","startTime":1242.22,"endTime":1244.4099999999999,"body":"advance. And so and there's a"},{"speaker":"Nick Lincoln","startTime":1242.22,"endTime":1244.4099999999999,"body":"link to my substack article in"},{"speaker":"Nick Lincoln","startTime":1244.4099999999999,"endTime":1248.85,"body":"there. And the final thing I"},{"speaker":"Nick Lincoln","startTime":1244.4099999999999,"endTime":1248.85,"body":"should hold on I think, was was"},{"speaker":"Andy Hart","startTime":1250.4099999999999,"endTime":1252.87,"body":"the general vibe has"},{"speaker":"Andy Hart","startTime":1250.4099999999999,"endTime":1252.87,"body":"been a financial advisor in"},{"speaker":"Andy Hart","startTime":1252.87,"endTime":1255.6599999999999,"body":"Japan or a wealth manager,"},{"speaker":"Andy Hart","startTime":1252.87,"endTime":1255.6599999999999,"body":"obviously, they know their"},{"speaker":"Andy Hart","startTime":1255.6599999999999,"endTime":1260.79,"body":"homebuyers situation, are they"},{"speaker":"Andy Hart","startTime":1255.6599999999999,"endTime":1260.79,"body":"all generally global equities"},{"speaker":"Andy Hart","startTime":1260.82,"endTime":1265.71,"body":"correctly country weighted, or"},{"speaker":"Andy Hart","startTime":1260.82,"endTime":1265.71,"body":"what I mean, if you had been a"},{"speaker":"Andy Hart","startTime":1265.71,"endTime":1269.79,"body":"35 year I'll come in, it's 35"},{"speaker":"Andy Hart","startTime":1265.71,"endTime":1269.79,"body":"Already 1989 coming into your"},{"speaker":"Andy Hart","startTime":1270.3899999999999,"endTime":1273.6599999999999,"body":"home stock market and you're"},{"speaker":"Andy Hart","startTime":1270.3899999999999,"endTime":1273.6599999999999,"body":"100% behind Japan, if you stuck"},{"speaker":"Andy Hart","startTime":1273.6599999999999,"endTime":1276.21,"body":"with a plan and bought through"},{"speaker":"Andy Hart","startTime":1273.6599999999999,"endTime":1276.21,"body":"all the frickin cycles, you now"},{"speaker":"Andy Hart","startTime":1276.21,"endTime":1278.58,"body":"be absolutely freaking loaded"},{"speaker":"Andy Hart","startTime":1276.21,"endTime":1278.58,"body":"because you'll be buying the"},{"speaker":"Andy Hart","startTime":1278.58,"endTime":1283.3799999999999,"body":"units at knockdown prices."},{"speaker":"Andy Hart","startTime":1278.58,"endTime":1283.3799999999999,"body":"Obviously that's going to be an"},{"speaker":"Andy Hart","startTime":1283.3799999999999,"endTime":1286.56,"body":"anecdote that's not you know,"},{"speaker":"Andy Hart","startTime":1283.3799999999999,"endTime":1286.56,"body":"the average investor but it'll"},{"speaker":"Andy Hart","startTime":1286.56,"endTime":1289.98,"body":"be interesting to know what if"},{"speaker":"Andy Hart","startTime":1286.56,"endTime":1289.98,"body":"there's any Japanese financial"},{"speaker":"Andy Hart","startTime":1289.98,"endTime":1292.86,"body":"advisors listening and want to"},{"speaker":"Andy Hart","startTime":1289.98,"endTime":1292.86,"body":"send me a sort of high level"},{"speaker":"Andy Hart","startTime":1292.86,"endTime":1295.26,"body":"overview about how all this sort"},{"speaker":"Andy Hart","startTime":1292.86,"endTime":1295.26,"body":"of stuff has been working out"},{"speaker":"Andy Hart","startTime":1295.26,"endTime":1296.34,"body":"then that'll be great. And"},{"speaker":"Nick Lincoln","startTime":1297.93,"endTime":1299.52,"body":"kind of my"},{"speaker":"Nick Lincoln","startTime":1297.93,"endTime":1299.52,"body":"question is that I know"},{"speaker":"Nick Lincoln","startTime":1300.12,"endTime":1303.09,"body":"obviously the US market we know"},{"speaker":"Nick Lincoln","startTime":1300.12,"endTime":1303.09,"body":"about the advisor advisor market"},{"speaker":"Nick Lincoln","startTime":1303.09,"endTime":1304.83,"body":"then we know about the"},{"speaker":"Nick Lincoln","startTime":1303.09,"endTime":1304.83,"body":"Australian market we know about"},{"speaker":"Nick Lincoln","startTime":1304.83,"endTime":1308.82,"body":"the Irish market, Japan given"},{"speaker":"Nick Lincoln","startTime":1304.83,"endTime":1308.82,"body":"its size, it's a it is a big"},{"speaker":"Nick Lincoln","startTime":1308.82,"endTime":1311.7,"body":"economy, I know nothing. Now"},{"speaker":"Nick Lincoln","startTime":1308.82,"endTime":1311.7,"body":"obviously there's enormous"},{"speaker":"Nick Lincoln","startTime":1357.78,"endTime":1360.1799999999998,"body":"cultural difference I mean,"},{"speaker":"Nick Lincoln","startTime":1357.78,"endTime":1360.1799999999998,"body":"proper cultural and linguistic"},{"speaker":"Nick Lincoln","startTime":1360.2099999999998,"endTime":1362.85,"body":"differences everything else but"},{"speaker":"Nick Lincoln","startTime":1360.2099999999998,"endTime":1362.85,"body":"I don't even know if if Japan"},{"speaker":"Nick Lincoln","startTime":1362.85,"endTime":1366.3899999999999,"body":"has like a financial advice you"},{"speaker":"Nick Lincoln","startTime":1362.85,"endTime":1366.3899999999999,"body":"know, sector maybe it's all done"},{"speaker":"Nick Lincoln","startTime":1366.3899999999999,"endTime":1368.25,"body":"through the banks, you know,"},{"speaker":"Nick Lincoln","startTime":1366.3899999999999,"endTime":1368.25,"body":"Wealth"},{"speaker":"Andy Hart","startTime":1368.25,"endTime":1370.77,"body":"Management, they'll"},{"speaker":"Andy Hart","startTime":1368.25,"endTime":1370.77,"body":"obviously have a huge management"},{"speaker":"Andy Hart","startTime":1371.76,"endTime":1372.1499999999999,"body":"area."},{"speaker":"Nick Lincoln","startTime":1373.53,"endTime":1376.62,"body":"They might be"},{"speaker":"Nick Lincoln","startTime":1373.53,"endTime":1376.62,"body":"final salary. Swank's supposed"},{"speaker":"Nick Lincoln","startTime":1376.62,"endTime":1379.59,"body":"to us money purchase plebs,"},{"speaker":"Nick Lincoln","startTime":1376.62,"endTime":1379.59,"body":"nothing about the Japanese"},{"speaker":"Nick Lincoln","startTime":1379.59,"endTime":1382.8,"body":"personal finance world at all."},{"speaker":"Nick Lincoln","startTime":1379.59,"endTime":1382.8,"body":"Meaning speaking for me, okay,"},{"speaker":"Nick Lincoln","startTime":1382.8,"endTime":1385.4099999999999,"body":"just give us two seconds when we"},{"speaker":"Nick Lincoln","startTime":1382.8,"endTime":1385.4099999999999,"body":"have a quick promo"},{"speaker":"Unknown","startTime":1388.5,"endTime":1393.51,"body":"Hello, dear Trappist."},{"speaker":"Unknown","startTime":1388.5,"endTime":1393.51,"body":"This is TLP great news. Somehow"},{"speaker":"Unknown","startTime":1393.51,"endTime":1396.1799999999998,"body":"the four knuckleheads have"},{"speaker":"Unknown","startTime":1393.51,"endTime":1396.1799999999998,"body":"managed to agree on the date and"},{"speaker":"Unknown","startTime":1396.1799999999998,"endTime":1400.59,"body":"time and venue for the first"},{"speaker":"Unknown","startTime":1396.1799999999998,"endTime":1400.59,"body":"ever track live event is"},{"speaker":"Unknown","startTime":1400.59,"endTime":1403.5,"body":"happening on the later afternoon"},{"speaker":"Unknown","startTime":1400.59,"endTime":1403.5,"body":"of Thursday, the night of May"},{"speaker":"doors open at 3","startTime":1403.8899999999999,"endTime":1409.4399999999998,"body":"30pm. The venue"},{"speaker":"doors open at 3","startTime":1403.8899999999999,"endTime":1409.4399999999998,"body":"is the historical Lola's bar at"},{"speaker":"doors open at 3","startTime":1409.4399999999998,"endTime":1413.04,"body":"London's famous hippodrome"},{"speaker":"doors open at 3","startTime":1409.4399999999998,"endTime":1413.04,"body":"casino right in the center of"},{"speaker":"doors open at 3","startTime":1413.04,"endTime":1417.9299999999998,"body":"town details, including a link"},{"speaker":"doors open at 3","startTime":1413.04,"endTime":1417.9299999999998,"body":"to purchase tickets can be found"},{"speaker":"doors open at 3","startTime":1418.1999999999998,"endTime":1422.37,"body":"at the real advisor podcast.com"},{"speaker":"doors open at 3","startTime":1418.1999999999998,"endTime":1422.37,"body":"forward slash trap live"},{"speaker":"doors open at 3","startTime":1422.6999999999998,"endTime":1426.1799999999998,"body":"unbelievably, people like you"},{"speaker":"doors open at 3","startTime":1422.6999999999998,"endTime":1426.1799999999998,"body":"are actually buying tickets"},{"speaker":"doors open at 3","startTime":1426.1799999999998,"endTime":1430.9199999999998,"body":"fast. So don't hang around, get"},{"speaker":"doors open at 3","startTime":1426.1799999999998,"endTime":1430.9199999999998,"body":"your tickets and come to what"},{"speaker":"doors open at 3","startTime":1430.9499999999998,"endTime":1436.4699999999998,"body":"many people are already calling"},{"speaker":"doors open at 3","startTime":1430.9499999999998,"endTime":1436.4699999999998,"body":"an absolute shambles. See you"},{"speaker":"doors open at 3","startTime":1436.4699999999998,"endTime":1436.83,"body":"there"},{"speaker":"Nick Lincoln","startTime":1439.6499999999999,"endTime":1443.55,"body":"Yes, indeed. TLP"},{"speaker":"Nick Lincoln","startTime":1439.6499999999999,"endTime":1443.55,"body":"we'll see you there. Looking"},{"speaker":"Nick Lincoln","startTime":1443.55,"endTime":1446.6399999999999,"body":"forward to it immensely. Okay,"},{"speaker":"Nick Lincoln","startTime":1443.55,"endTime":1446.6399999999999,"body":"the final the final topical"},{"speaker":"Nick Lincoln","startTime":1446.6399999999999,"endTime":1448.86,"body":"tidbit and this is storyteller."},{"speaker":"Alan Smith","startTime":1450.4499999999998,"endTime":1453.3899999999999,"body":"Yeah, sort of just"},{"speaker":"Alan Smith","startTime":1450.4499999999998,"endTime":1453.3899999999999,"body":"following on from your comment"},{"speaker":"Alan Smith","startTime":1453.3899999999999,"endTime":1457.4699999999998,"body":"there about meta Nick and other"},{"speaker":"Alan Smith","startTime":1453.3899999999999,"endTime":1457.4699999999998,"body":"things I think all of us to"},{"speaker":"Alan Smith","startTime":1457.4699999999998,"endTime":1464.6699999999998,"body":"varying degrees listen to the"},{"speaker":"Alan Smith","startTime":1457.4699999999998,"endTime":1464.6699999999998,"body":"all in podcast which is you"},{"speaker":"Alan Smith","startTime":1464.6699999999998,"endTime":1468.36,"body":"know, poor version of this one"},{"speaker":"Alan Smith","startTime":1464.6699999999998,"endTime":1468.36,"body":"but bless God bless them they"},{"speaker":"Alan Smith","startTime":1468.36,"endTime":1472.83,"body":"try. And so the three the all in"},{"speaker":"Alan Smith","startTime":1468.36,"endTime":1472.83,"body":"is for those who don't know the"},{"speaker":"Alan Smith","startTime":1472.86,"endTime":1478.8,"body":"all in podcast is for tech VC"},{"speaker":"Alan Smith","startTime":1472.86,"endTime":1478.8,"body":"entrepreneur kind of"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1481.77,"body":"billionaires generally a very"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1481.77,"body":"wealthy and but successful"},{"speaker":"Alan Smith","startTime":1481.9199999999998,"endTime":1486.09,"body":"technologist and investors and I"},{"speaker":"Alan Smith","startTime":1481.9199999999998,"endTime":1486.09,"body":"it's the one podcast I do listen"},{"speaker":"Alan Smith","startTime":1486.09,"endTime":1488.25,"body":"to every single week. And as a"},{"speaker":"Alan Smith","startTime":1486.09,"endTime":1488.25,"body":"for those who don't know,"},{"speaker":"Alan Smith","startTime":1488.25,"endTime":1490.86,"body":"there's a spin off as well the"},{"speaker":"Alan Smith","startTime":1488.25,"endTime":1490.86,"body":"what they call the fifth best"},{"speaker":"Alan Smith","startTime":1490.86,"endTime":1493.29,"body":"the the other guy that goes on"},{"speaker":"Alan Smith","startTime":1490.86,"endTime":1493.29,"body":"it's called Brad goats, no,"},{"speaker":"Alan Smith","startTime":1493.29,"endTime":1496.83,"body":"who's another sort of tech"},{"speaker":"Alan Smith","startTime":1493.29,"endTime":1496.83,"body":"entrepreneur. He's now got his"},{"speaker":"Alan Smith","startTime":1496.83,"endTime":1500.34,"body":"launch his own podcast, as well."},{"speaker":"Alan Smith","startTime":1496.83,"endTime":1500.34,"body":"So I listened to those and I"},{"speaker":"Alan Smith","startTime":1500.34,"endTime":1502.83,"body":"really liked the the"},{"speaker":"Alan Smith","startTime":1500.34,"endTime":1502.83,"body":"interaction, but also like their"},{"speaker":"Alan Smith","startTime":1502.83,"endTime":1506.61,"body":"take on kind of global macro."},{"speaker":"Alan Smith","startTime":1502.83,"endTime":1506.61,"body":"They do talk about politics,"},{"speaker":"Alan Smith","startTime":1506.6399999999999,"endTime":1508.5,"body":"talk about a lot of other"},{"speaker":"Alan Smith","startTime":1506.6399999999999,"endTime":1508.5,"body":"things. But of course, they talk"},{"speaker":"Alan Smith","startTime":1508.5,"endTime":1512.61,"body":"about business a lot. And I was"},{"speaker":"Alan Smith","startTime":1508.5,"endTime":1512.61,"body":"just linking a lot of the"},{"speaker":"Alan Smith","startTime":1512.61,"endTime":1515.79,"body":"conversations they were having."},{"speaker":"Alan Smith","startTime":1512.61,"endTime":1515.79,"body":"And of course, the news which"},{"speaker":"Alan Smith","startTime":1515.79,"endTime":1520.26,"body":"came out last week about Nvidia"},{"speaker":"Alan Smith","startTime":1515.79,"endTime":1520.26,"body":"and their sort of meteoric rise"},{"speaker":"Alan Smith","startTime":1520.26,"endTime":1522.7199999999998,"body":"because anyone who doesn't know"},{"speaker":"Alan Smith","startTime":1520.26,"endTime":1522.7199999999998,"body":"in video, the company who make"},{"speaker":"Alan Smith","startTime":1522.7199999999998,"endTime":1526.32,"body":"the chips, the computer chips"},{"speaker":"Alan Smith","startTime":1522.7199999999998,"endTime":1526.32,"body":"that go into all the kind of AI"},{"speaker":"Alan Smith","startTime":1526.32,"endTime":1530.55,"body":"enabled tools around the world."},{"speaker":"Alan Smith","startTime":1526.32,"endTime":1530.55,"body":"So they have absolutely just"},{"speaker":"Alan Smith","startTime":1530.55,"endTime":1534.87,"body":"shot away they're valued are"},{"speaker":"Alan Smith","startTime":1530.55,"endTime":1534.87,"body":"well over 2 trillion in video"},{"speaker":"Alan Smith","startTime":1534.8999999999999,"endTime":1537.75,"body":"are predicting that they're"},{"speaker":"Alan Smith","startTime":1534.8999999999999,"endTime":1537.75,"body":"going to the other revenue"},{"speaker":"Alan Smith","startTime":1537.75,"endTime":1540.2399999999998,"body":"numbers they announced last week"},{"speaker":"Alan Smith","startTime":1537.75,"endTime":1540.2399999999998,"body":"are going to double literally"},{"speaker":"Alan Smith","startTime":1540.54,"endTime":1544.1699999999998,"body":"one to x over the next 12 months"},{"speaker":"Alan Smith","startTime":1540.54,"endTime":1544.1699999999998,"body":"alone. And often their"},{"speaker":"Alan Smith","startTime":1544.1699999999998,"endTime":1547.62,"body":"predictions will undershoot the"},{"speaker":"Alan Smith","startTime":1544.1699999999998,"endTime":1547.62,"body":"reality. There's a view that"},{"speaker":"Alan Smith","startTime":1547.62,"endTime":1551.6699999999998,"body":"NVIDIA could be the first $10"},{"speaker":"Alan Smith","startTime":1547.62,"endTime":1551.6699999999998,"body":"trillion company ever to have"},{"speaker":"Alan Smith","startTime":1551.6699999999998,"endTime":1555.4799999999998,"body":"existed and if so, it wouldn't"},{"speaker":"Alan Smith","startTime":1551.6699999999998,"endTime":1555.4799999999998,"body":"be that far away. So these are"},{"speaker":"Alan Smith","startTime":1555.4799999999998,"endTime":1558.0,"body":"obviously the conversations if"},{"speaker":"Alan Smith","startTime":1555.4799999999998,"endTime":1558.0,"body":"you listen to the way these guys"},{"speaker":"Alan Smith","startTime":1558.0,"endTime":1560.1899999999998,"body":"talking, I know a hell of a lot"},{"speaker":"Alan Smith","startTime":1558.0,"endTime":1560.1899999999998,"body":"more about it than I do. But"},{"speaker":"Alan Smith","startTime":1560.1899999999998,"endTime":1563.58,"body":"they talk about a structural"},{"speaker":"Alan Smith","startTime":1560.1899999999998,"endTime":1563.58,"body":"shift in the global economy"},{"speaker":"Alan Smith","startTime":1564.12,"endTime":1567.87,"body":"built on this tidal wave of"},{"speaker":"Alan Smith","startTime":1564.12,"endTime":1567.87,"body":"technology which is coming away"},{"speaker":"Alan Smith","startTime":1567.87,"endTime":1571.4399999999998,"body":"which we haven't even seen the"},{"speaker":"Alan Smith","startTime":1567.87,"endTime":1571.4399999999998,"body":"beginnings of yet. So joining"},{"speaker":"Alan Smith","startTime":1571.4699999999998,"endTime":1575.04,"body":"and also looking at things like"},{"speaker":"Alan Smith","startTime":1571.4699999999998,"endTime":1575.04,"body":"meta paying a dividend, you"},{"speaker":"Alan Smith","startTime":1575.04,"endTime":1578.4599999999998,"body":"know, at My question is and it's"},{"speaker":"Alan Smith","startTime":1575.04,"endTime":1578.4599999999998,"body":"just throwing it out there, you"},{"speaker":"Alan Smith","startTime":1578.4599999999998,"endTime":1580.29,"body":"guys are welcome to either"},{"speaker":"Alan Smith","startTime":1578.4599999999998,"endTime":1580.29,"body":"ignore it or give you a"},{"speaker":"Alan Smith","startTime":1580.29,"endTime":1585.6899999999998,"body":"feedback, which is the death of"},{"speaker":"Alan Smith","startTime":1580.29,"endTime":1585.6899999999998,"body":"the value premium is I know it's"},{"speaker":"Alan Smith","startTime":1585.6899999999998,"endTime":1589.53,"body":"been stated in the past, we all"},{"speaker":"Alan Smith","startTime":1585.6899999999998,"endTime":1589.53,"body":"to one degree or another embrace"},{"speaker":"Alan Smith","startTime":1589.56,"endTime":1593.6999999999998,"body":"the value premium in their"},{"speaker":"Alan Smith","startTime":1589.56,"endTime":1593.6999999999998,"body":"buying out of favor low book to"},{"speaker":"Alan Smith","startTime":1593.6999999999998,"endTime":1598.02,"body":"value stocks, stocks that pay"},{"speaker":"Alan Smith","startTime":1593.6999999999998,"endTime":1598.02,"body":"dividends regularly compounded"},{"speaker":"Alan Smith","startTime":1598.02,"endTime":1600.09,"body":"up up, you know, embrace"},{"speaker":"Alan Smith","startTime":1598.02,"endTime":1600.09,"body":"compounding, it's a warren"},{"speaker":"Alan Smith","startTime":1600.09,"endTime":1604.08,"body":"buffett strategy, etc. The view"},{"speaker":"Alan Smith","startTime":1600.09,"endTime":1604.08,"body":"coming out of Silicon Valley is"},{"speaker":"Alan Smith","startTime":1604.11,"endTime":1606.84,"body":"these tech companies are the new"},{"speaker":"Alan Smith","startTime":1604.11,"endTime":1606.84,"body":"value stocks effectively, they"},{"speaker":"Alan Smith","startTime":1606.84,"endTime":1611.55,"body":"actually relatively low p e"},{"speaker":"Alan Smith","startTime":1606.84,"endTime":1611.55,"body":"ratios relatively low. But yet"},{"speaker":"Alan Smith","startTime":1611.55,"endTime":1615.03,"body":"they are anticipated growth is"},{"speaker":"Alan Smith","startTime":1611.55,"endTime":1615.03,"body":"going to be exponential and they"},{"speaker":"Alan Smith","startTime":1615.03,"endTime":1619.62,"body":"are now beginning to pay"},{"speaker":"Alan Smith","startTime":1615.03,"endTime":1619.62,"body":"dividends. So question mark, is"},{"speaker":"Alan Smith","startTime":1619.62,"endTime":1622.7399999999998,"body":"now the time in dividend premium"},{"speaker":"Alan Smith","startTime":1619.62,"endTime":1622.7399999999998,"body":"works. But my God, you got to be"},{"speaker":"Alan Smith","startTime":1622.7399999999998,"endTime":1627.1799999999998,"body":"patient, sometimes you got to be"},{"speaker":"Alan Smith","startTime":1622.7399999999998,"endTime":1627.1799999999998,"body":"you could wait 30 years to have"},{"speaker":"Alan Smith","startTime":1627.1799999999998,"endTime":1629.8799999999999,"body":"a significant outperformance"},{"speaker":"Alan Smith","startTime":1627.1799999999998,"endTime":1629.8799999999999,"body":"versus growth. And, and of"},{"speaker":"Alan Smith","startTime":1629.8799999999999,"endTime":1633.4199999999998,"body":"course, the world you know, the"},{"speaker":"Alan Smith","startTime":1629.8799999999999,"endTime":1633.4199999999998,"body":"world you know, it is a bit of a"},{"speaker":"Alan Smith","startTime":1633.4499999999998,"endTime":1637.08,"body":"this time is different. And"},{"speaker":"Alan Smith","startTime":1633.4499999999998,"endTime":1637.08,"body":"usually it isn't, but I'm just"},{"speaker":"Alan Smith","startTime":1637.08,"endTime":1640.77,"body":"throwing it out there. If you"},{"speaker":"Alan Smith","startTime":1637.08,"endTime":1640.77,"body":"look at the value tilted funds"},{"speaker":"Alan Smith","startTime":1640.8,"endTime":1645.4499999999998,"body":"over the line, the UK us,"},{"speaker":"Alan Smith","startTime":1640.8,"endTime":1645.4499999999998,"body":"particularly the apart from a"},{"speaker":"Alan Smith","startTime":1645.4499999999998,"endTime":1649.08,"body":"blip in what was it 2022. When"},{"speaker":"Alan Smith","startTime":1645.4499999999998,"endTime":1649.08,"body":"all the growth stocks sort of"},{"speaker":"Alan Smith","startTime":1649.08,"endTime":1652.4099999999999,"body":"fell back quickly, quickly, all"},{"speaker":"Alan Smith","startTime":1649.08,"endTime":1652.4099999999999,"body":"the tech stocks, you're waiting"},{"speaker":"Alan Smith","startTime":1652.4099999999999,"endTime":1655.11,"body":"a long time. So just throwing it"},{"speaker":"Alan Smith","startTime":1652.4099999999999,"endTime":1655.11,"body":"out there you got to give you if"},{"speaker":"Alan Smith","startTime":1655.11,"endTime":1657.75,"body":"you're recommending it, you've"},{"speaker":"Alan Smith","startTime":1655.11,"endTime":1657.75,"body":"got your if your clients are"},{"speaker":"Alan Smith","startTime":1657.75,"endTime":1659.7299999999998,"body":"paying attention to this, you've"},{"speaker":"Alan Smith","startTime":1657.75,"endTime":1659.7299999999998,"body":"got to encourage them to be"},{"speaker":"Alan Smith","startTime":1659.76,"endTime":1663.84,"body":"extremely patient. And I can't"},{"speaker":"Alan Smith","startTime":1659.76,"endTime":1663.84,"body":"see that reversing the next 10"},{"speaker":"Alan Smith","startTime":1663.84,"endTime":1666.6299999999999,"body":"years. Anyway. So looking at the"},{"speaker":"Alan Smith","startTime":1663.84,"endTime":1666.6299999999999,"body":"way some of these tech stocks"},{"speaker":"Alan Smith","startTime":1666.6599999999999,"endTime":1670.4699999999998,"body":"all, you know, developing and"},{"speaker":"Alan Smith","startTime":1666.6599999999999,"endTime":1670.4699999999998,"body":"some of the predictions and how,"},{"speaker":"Alan Smith","startTime":1670.5,"endTime":1672.2399999999998,"body":"you know, there's no doubt the"},{"speaker":"Alan Smith","startTime":1670.5,"endTime":1672.2399999999998,"body":"world is gonna be a lot"},{"speaker":"Alan Smith","startTime":1672.2399999999998,"endTime":1675.78,"body":"different 10 years now than it"},{"speaker":"Alan Smith","startTime":1672.2399999999998,"endTime":1675.78,"body":"is today. Anyone got any"},{"speaker":"Alan Smith","startTime":1675.78,"endTime":1676.7099999999998,"body":"thoughts on that?"},{"speaker":"Nick Lincoln","startTime":1678.6599999999999,"endTime":1680.58,"body":"Was there a"},{"speaker":"Nick Lincoln","startTime":1678.6599999999999,"endTime":1680.58,"body":"question in that in that in that"},{"speaker":"Nick Lincoln","startTime":1680.58,"endTime":1681.3,"body":"monologue or"},{"speaker":"Alan Smith","startTime":1681.9599999999998,"endTime":1683.1,"body":"it? No,"},{"speaker":"Unknown","startTime":1683.31,"endTime":1686.4899999999998,"body":"it's a very interesting"},{"speaker":"Unknown","startTime":1683.31,"endTime":1686.4899999999998,"body":"point. Very, very interesting"},{"speaker":"Unknown","startTime":1686.4899999999998,"endTime":1689.2199999999998,"body":"point. I suppose. When you're"},{"speaker":"Unknown","startTime":1686.4899999999998,"endTime":1689.2199999999998,"body":"looking at these premiums, you"},{"speaker":"Unknown","startTime":1689.2199999999998,"endTime":1691.77,"body":"don't want to be just looking at"},{"speaker":"Unknown","startTime":1689.2199999999998,"endTime":1691.77,"body":"kind of one thing. It's you"},{"speaker":"Unknown","startTime":1691.77,"endTime":1695.4899999999998,"body":"know, that's the whole idea"},{"speaker":"Unknown","startTime":1691.77,"endTime":1695.4899999999998,"body":"about diversification and maybe"},{"speaker":"Unknown","startTime":1695.4899999999998,"endTime":1697.4699999999998,"body":"you're looking at smaller"},{"speaker":"Unknown","startTime":1695.4899999999998,"endTime":1697.4699999999998,"body":"company Tilson, that kind of"},{"speaker":"Unknown","startTime":1697.4699999999998,"endTime":1703.11,"body":"stuff. You're right, though, if"},{"speaker":"Unknown","startTime":1697.4699999999998,"endTime":1703.11,"body":"we didn't have the value premium"},{"speaker":"Unknown","startTime":1703.32,"endTime":1706.83,"body":"coming through and 2020 to the"},{"speaker":"Unknown","startTime":1703.32,"endTime":1706.83,"body":"last kind of seven or eight"},{"speaker":"Unknown","startTime":1706.83,"endTime":1711.06,"body":"years look very bleak for that."},{"speaker":"Unknown","startTime":1706.83,"endTime":1711.06,"body":"It's possibly not 30 years, but"},{"speaker":"Unknown","startTime":1711.09,"endTime":1715.53,"body":"But you are absolutely under his"},{"speaker":"Unknown","startTime":1711.09,"endTime":1715.53,"body":"own right. And I'm always"},{"speaker":"Unknown","startTime":1715.53,"endTime":1719.31,"body":"leaning towards Ireland that you"},{"speaker":"Unknown","startTime":1715.53,"endTime":1719.31,"body":"know, what has always worked, is"},{"speaker":"Unknown","startTime":1719.31,"endTime":1724.9499999999998,"body":"what you will look at. But maybe"},{"speaker":"Unknown","startTime":1719.31,"endTime":1724.9499999999998,"body":"I will doubt whole structural"},{"speaker":"Unknown","startTime":1724.9499999999998,"endTime":1730.1699999999998,"body":"shift idea. That's definitely"},{"speaker":"Unknown","startTime":1724.9499999999998,"endTime":1730.1699999999998,"body":"something to ponder. I think a"},{"speaker":"Unknown","startTime":1730.1699999999998,"endTime":1731.6999999999998,"body":"little bit more for sure."},{"speaker":"Nick Lincoln","startTime":1732.6,"endTime":1736.86,"body":"Yeah, I think mean"},{"speaker":"Nick Lincoln","startTime":1732.6,"endTime":1736.86,"body":"value stocks aren't just defined"},{"speaker":"Nick Lincoln","startTime":1736.86,"endTime":1739.4399999999998,"body":"by their price earnings ratios"},{"speaker":"Nick Lincoln","startTime":1736.86,"endTime":1739.4399999999998,"body":"that is a part of being a value"},{"speaker":"Nick Lincoln","startTime":1739.4399999999998,"endTime":1742.7399999999998,"body":"stock the fact that these tech"},{"speaker":"Nick Lincoln","startTime":1739.4399999999998,"endTime":1742.7399999999998,"body":"stocks have relatively low p e"},{"speaker":"Nick Lincoln","startTime":1742.7399999999998,"endTime":1745.4099999999999,"body":"ratios doesn't necessarily mean"},{"speaker":"Nick Lincoln","startTime":1742.7399999999998,"endTime":1745.4099999999999,"body":"they're valued. There are other"},{"speaker":"Nick Lincoln","startTime":1745.4699999999998,"endTime":1748.3799999999999,"body":"reasons why it could be a value"},{"speaker":"Nick Lincoln","startTime":1745.4699999999998,"endTime":1748.3799999999999,"body":"stock either another another"},{"speaker":"Nick Lincoln","startTime":1748.3799999999999,"endTime":1750.78,"body":"good way of assessing a value"},{"speaker":"Nick Lincoln","startTime":1748.3799999999999,"endTime":1750.78,"body":"stock as if you sold a company's"},{"speaker":"Nick Lincoln","startTime":1750.78,"endTime":1752.6699999999998,"body":"fixtures and fittings and"},{"speaker":"Nick Lincoln","startTime":1750.78,"endTime":1752.6699999999998,"body":"factories and land and"},{"speaker":"Nick Lincoln","startTime":1752.6699999999998,"endTime":1755.34,"body":"everything else that you know is"},{"speaker":"Nick Lincoln","startTime":1752.6699999999998,"endTime":1755.34,"body":"that worth more than the share"},{"speaker":"Nick Lincoln","startTime":1755.34,"endTime":1758.79,"body":"price is going to Crystal the"},{"speaker":"Nick Lincoln","startTime":1755.34,"endTime":1758.79,"body":"share price is of course a lot"},{"speaker":"Nick Lincoln","startTime":1758.79,"endTime":1762.0,"body":"of these tech companies don't"},{"speaker":"Nick Lincoln","startTime":1758.79,"endTime":1762.0,"body":"have it it's IP isn't it? Their"},{"speaker":"Nick Lincoln","startTime":1762.0,"endTime":1764.28,"body":"ideas and they outsource the"},{"speaker":"Nick Lincoln","startTime":1762.0,"endTime":1764.28,"body":"production of things to"},{"speaker":"Nick Lincoln","startTime":1764.31,"endTime":1769.02,"body":"sweatshops in in Myanmar or what"},{"speaker":"Nick Lincoln","startTime":1764.31,"endTime":1769.02,"body":"have you. So but it's it yes,"},{"speaker":"Nick Lincoln","startTime":1769.02,"endTime":1771.1499999999999,"body":"that's something to watch but I"},{"speaker":"Nick Lincoln","startTime":1769.02,"endTime":1771.1499999999999,"body":"think I think the markets that"},{"speaker":"Nick Lincoln","startTime":1771.1499999999999,"endTime":1774.84,"body":"the fund managers will adapt if"},{"speaker":"Nick Lincoln","startTime":1771.1499999999999,"endTime":1774.84,"body":"they feel that those those those"},{"speaker":"Nick Lincoln","startTime":1774.84,"endTime":1778.35,"body":"stocks becoming more value like"},{"speaker":"Nick Lincoln","startTime":1774.84,"endTime":1778.35,"body":"but it definitely comes along it"},{"speaker":"Nick Lincoln","startTime":1778.35,"endTime":1783.27,"body":"is lumpy 2022 As you both said"},{"speaker":"Nick Lincoln","startTime":1778.35,"endTime":1783.27,"body":"that that you take that out UK"},{"speaker":"Nick Lincoln","startTime":1783.27,"endTime":1785.8799999999999,"body":"value especially UK value is"},{"speaker":"Nick Lincoln","startTime":1783.27,"endTime":1785.8799999999999,"body":"Paul."},{"speaker":"Alan Smith","startTime":1786.78,"endTime":1789.12,"body":"I really Addy"},{"speaker":"Andy Hart","startTime":1790.1399999999999,"endTime":1792.54,"body":"Yeah, these"},{"speaker":"Andy Hart","startTime":1790.1399999999999,"endTime":1792.54,"body":"magnificent seven or whatever"},{"speaker":"Andy Hart","startTime":1792.54,"endTime":1794.6699999999998,"body":"we're calling them have an"},{"speaker":"Andy Hart","startTime":1792.54,"endTime":1794.6699999999998,"body":"absolute Stranglehold over the"},{"speaker":"Andy Hart","startTime":1794.6699999999998,"endTime":1798.1799999999998,"body":"world. You know, I'm sitting"},{"speaker":"Andy Hart","startTime":1794.6699999999998,"endTime":1798.1799999999998,"body":"here on a Microsoft PC with an"},{"speaker":"Andy Hart","startTime":1798.2099999999998,"endTime":1802.6799999999998,"body":"apple PC behind it with an Apple"},{"speaker":"Andy Hart","startTime":1798.2099999999998,"endTime":1802.6799999999998,"body":"phone here on frickin WhatsApp"},{"speaker":"Andy Hart","startTime":1802.6799999999998,"endTime":1805.8,"body":"all day Tesla outside and all of"},{"speaker":"Andy Hart","startTime":1802.6799999999998,"endTime":1805.8,"body":"its being funded by Nvidia and"},{"speaker":"Andy Hart","startTime":1805.83,"endTime":1809.4899999999998,"body":"you know, to keep this whole"},{"speaker":"Andy Hart","startTime":1805.83,"endTime":1809.4899999999998,"body":"mess together. Yeah, the numbers"},{"speaker":"Andy Hart","startTime":1809.4899999999998,"endTime":1811.56,"body":"that's going to come out of it"},{"speaker":"Andy Hart","startTime":1809.4899999999998,"endTime":1811.56,"body":"going to be astronomical. So"},{"speaker":"Andy Hart","startTime":1811.56,"endTime":1813.75,"body":"we're interested in that same"},{"speaker":"Andy Hart","startTime":1811.56,"endTime":1813.75,"body":"video is gonna be the first $10"},{"speaker":"Andy Hart","startTime":1813.75,"endTime":1816.6599999999999,"body":"trillion company what what? We"},{"speaker":"Andy Hart","startTime":1813.75,"endTime":1816.6599999999999,"body":"haven't we haven't we haven't"},{"speaker":"Andy Hart","startTime":1816.6599999999999,"endTime":1819.09,"body":"had the first $4 trillion"},{"speaker":"Andy Hart","startTime":1816.6599999999999,"endTime":1819.09,"body":"company yet. I mean, we still"},{"speaker":"Andy Hart","startTime":1819.09,"endTime":1823.4699999999998,"body":"got two to 3 trillion in terms"},{"speaker":"Andy Hart","startTime":1819.09,"endTime":1823.4699999999998,"body":"of the value versus growth all"},{"speaker":"Andy Hart","startTime":1823.4699999999998,"endTime":1825.78,"body":"that sort of stuff. Yes, a bit"},{"speaker":"Andy Hart","startTime":1823.4699999999998,"endTime":1825.78,"body":"sort of bear on me when it comes"},{"speaker":"Andy Hart","startTime":1825.78,"endTime":1828.09,"body":"to investing. I sort of try and"},{"speaker":"Andy Hart","startTime":1825.78,"endTime":1828.09,"body":"keep it a bit more simple, sort"},{"speaker":"Andy Hart","startTime":1828.09,"endTime":1830.31,"body":"of what Carl was alluding to."},{"speaker":"Andy Hart","startTime":1828.09,"endTime":1830.31,"body":"It's a little bit like the"},{"speaker":"Andy Hart","startTime":1830.31,"endTime":1832.56,"body":"emerging market thing again,"},{"speaker":"Andy Hart","startTime":1830.31,"endTime":1832.56,"body":"long term emerging markets"},{"speaker":"Andy Hart","startTime":1832.56,"endTime":1834.81,"body":"should be you know, developed"},{"speaker":"Andy Hart","startTime":1832.56,"endTime":1834.81,"body":"markets but again, you have to"},{"speaker":"Andy Hart","startTime":1834.81,"endTime":1837.4499999999998,"body":"wait you know, different blocks"},{"speaker":"Andy Hart","startTime":1834.81,"endTime":1837.4499999999998,"body":"of time for that to happen. So"},{"speaker":"Andy Hart","startTime":1837.4499999999998,"endTime":1840.3,"body":"again, it's the same with value"},{"speaker":"Andy Hart","startTime":1837.4499999999998,"endTime":1840.3,"body":"and growth but yeah, back to"},{"speaker":"Andy Hart","startTime":1840.3,"endTime":1840.75,"body":"your boss."},{"speaker":"Nick Lincoln","startTime":1842.2199999999998,"endTime":1844.4699999999998,"body":"Okey dokey. Okay,"},{"speaker":"Nick Lincoln","startTime":1842.2199999999998,"endTime":1844.4699999999998,"body":"we're almost half an hour in the"},{"speaker":"Nick Lincoln","startTime":1844.4699999999998,"endTime":1848.82,"body":"software has yet to screw up so"},{"speaker":"Nick Lincoln","startTime":1844.4699999999998,"endTime":1848.82,"body":"let's plow on with the next"},{"speaker":"Nick Lincoln","startTime":1848.82,"endTime":1851.7299999999998,"body":"section of the show the the meat"},{"speaker":"Nick Lincoln","startTime":1848.82,"endTime":1851.7299999999998,"body":"and potatoes where we take one"},{"speaker":"Nick Lincoln","startTime":1851.7299999999998,"endTime":1856.6499999999999,"body":"subject and give it a damn good"},{"speaker":"Nick Lincoln","startTime":1851.7299999999998,"endTime":1856.6499999999999,"body":"thrashing. And the title of this"},{"speaker":"Nick Lincoln","startTime":1856.6799999999998,"endTime":1861.2099999999998,"body":"Episode Episode 40 is meat and"},{"speaker":"Nick Lincoln","startTime":1856.6799999999998,"endTime":1861.2099999999998,"body":"potatoes is firing yourself as"},{"speaker":"Nick Lincoln","startTime":1861.2399999999998,"endTime":1866.25,"body":"an advisor. One of us has"},{"speaker":"Nick Lincoln","startTime":1861.2399999999998,"endTime":1866.25,"body":"technically done that and"},{"speaker":"Nick Lincoln","startTime":1866.25,"endTime":1868.3799999999999,"body":"neither one of us was thinking"},{"speaker":"Nick Lincoln","startTime":1866.25,"endTime":1868.3799999999999,"body":"about doing that and the other"},{"speaker":"Nick Lincoln","startTime":1868.3799999999999,"endTime":1872.52,"body":"two of us can't, Mr. Smith, lead"},{"speaker":"Nick Lincoln","startTime":1868.3799999999999,"endTime":1872.52,"body":"off."},{"speaker":"Alan Smith","startTime":1874.4399999999998,"endTime":1877.77,"body":"Yeah, okay. This is"},{"speaker":"Alan Smith","startTime":1874.4399999999998,"endTime":1877.77,"body":"A subject that yeah, it will be"},{"speaker":"Alan Smith","startTime":1877.77,"endTime":1881.4599999999998,"body":"it'll certainly be relevant to"},{"speaker":"Alan Smith","startTime":1877.77,"endTime":1881.4599999999998,"body":"some but not all Trappists admit"},{"speaker":"Alan Smith","startTime":1881.4599999999998,"endTime":1883.3799999999999,"body":"whether it's now or in the"},{"speaker":"Alan Smith","startTime":1881.4599999999998,"endTime":1883.3799999999999,"body":"future. But it's certainly"},{"speaker":"Alan Smith","startTime":1883.3799999999999,"endTime":1886.6799999999998,"body":"something that has been on my"},{"speaker":"Alan Smith","startTime":1883.3799999999999,"endTime":1886.6799999999998,"body":"radar for, you know, for 10"},{"speaker":"Alan Smith","startTime":1886.6799999999998,"endTime":1890.1299999999999,"body":"years. And it's something that"},{"speaker":"Alan Smith","startTime":1886.6799999999998,"endTime":1890.1299999999999,"body":"I'm now getting contacted about."},{"speaker":"Alan Smith","startTime":1890.55,"endTime":1893.28,"body":"So let me give a bit of"},{"speaker":"Alan Smith","startTime":1890.55,"endTime":1893.28,"body":"background, let me sort of start"},{"speaker":"Alan Smith","startTime":1893.28,"endTime":1896.9699999999998,"body":"by telling a brief story about"},{"speaker":"Alan Smith","startTime":1893.28,"endTime":1896.9699999999998,"body":"how this all came about."},{"speaker":"Unknown","startTime":1900.84,"endTime":1905.6999999999998,"body":"Grab yourself a drink,"},{"speaker":"Unknown","startTime":1900.84,"endTime":1905.6999999999998,"body":"a very long drink. It's story"},{"speaker":"Unknown","startTime":1905.6999999999998,"endTime":1907.9499999999998,"body":"time with Ellen Smith."},{"speaker":"Alan Smith","startTime":1914.82,"endTime":1918.87,"body":"Teed that up"},{"speaker":"Alan Smith","startTime":1914.82,"endTime":1918.87,"body":"beautifully for you. As it's"},{"speaker":"Alan Smith","startTime":1918.87,"endTime":1921.57,"body":"been documented, I mentioned in"},{"speaker":"Alan Smith","startTime":1918.87,"endTime":1921.57,"body":"the past, I started this company"},{"speaker":"Alan Smith","startTime":1921.57,"endTime":1925.6799999999998,"body":"that is called capital 20 years"},{"speaker":"Alan Smith","startTime":1921.57,"endTime":1925.6799999999998,"body":"ago, this year in a glorified"},{"speaker":"Alan Smith","startTime":1925.6799999999998,"endTime":1929.8799999999999,"body":"broom cupboards above a shop in"},{"speaker":"Alan Smith","startTime":1925.6799999999998,"endTime":1929.8799999999999,"body":"Victoria. Fast forward, 10 years"},{"speaker":"Alan Smith","startTime":1929.8799999999999,"endTime":1934.1399999999999,"body":"later, we've grown the business"},{"speaker":"Alan Smith","startTime":1929.8799999999999,"endTime":1934.1399999999999,"body":"pretty significantly, you know,"},{"speaker":"Alan Smith","startTime":1934.1399999999999,"endTime":1937.56,"body":"one client at a time, word of"},{"speaker":"Alan Smith","startTime":1934.1399999999999,"endTime":1937.56,"body":"mouth, organic growth, and we're"},{"speaker":"Alan Smith","startTime":1937.56,"endTime":1940.9799999999998,"body":"now in a different office over"},{"speaker":"Alan Smith","startTime":1937.56,"endTime":1940.9799999999998,"body":"in the City of London. And we're"},{"speaker":"Alan Smith","startTime":1941.01,"endTime":1944.9699999999998,"body":"kind of moving quite fast. Or it"},{"speaker":"Alan Smith","startTime":1941.01,"endTime":1944.9699999999998,"body":"feels like that I'm still the"},{"speaker":"Alan Smith","startTime":1944.9699999999998,"endTime":1948.54,"body":"sort of the lead advisor of then"},{"speaker":"Alan Smith","startTime":1944.9699999999998,"endTime":1948.54,"body":"at that stage got two other"},{"speaker":"Alan Smith","startTime":1948.54,"endTime":1954.4799999999998,"body":"advisors working alongside me. I"},{"speaker":"Alan Smith","startTime":1948.54,"endTime":1954.4799999999998,"body":"am kind of chief cook and bottle"},{"speaker":"Alan Smith","startTime":1954.4799999999998,"endTime":1957.4199999999998,"body":"washer, as they say, I'm the"},{"speaker":"Alan Smith","startTime":1954.4799999999998,"endTime":1957.4199999999998,"body":"kind of lead advisor I've got 90"},{"speaker":"Alan Smith","startTime":1957.4199999999998,"endTime":1960.4199999999998,"body":"client families on my roster"},{"speaker":"Alan Smith","startTime":1957.4199999999998,"endTime":1960.4199999999998,"body":"that I look after do annual"},{"speaker":"Alan Smith","startTime":1960.4199999999998,"endTime":1962.79,"body":"planning meetings, we by that"},{"speaker":"Alan Smith","startTime":1960.4199999999998,"endTime":1962.79,"body":"time, we'd absolutely embrace"},{"speaker":"Alan Smith","startTime":1962.79,"endTime":1965.52,"body":"proper, full fat financial"},{"speaker":"Alan Smith","startTime":1962.79,"endTime":1965.52,"body":"planning and running cash flow"},{"speaker":"Alan Smith","startTime":1965.52,"endTime":1969.51,"body":"models for every client we had"},{"speaker":"Alan Smith","startTime":1965.52,"endTime":1969.51,"body":"around about that site yet, but"},{"speaker":"Alan Smith","startTime":1969.54,"endTime":1972.75,"body":"that time we've tenuous we had"},{"speaker":"Alan Smith","startTime":1969.54,"endTime":1972.75,"body":"built our investment proposition"},{"speaker":"Alan Smith","startTime":1972.75,"endTime":1975.09,"body":"that we still use to this day."},{"speaker":"Alan Smith","startTime":1972.75,"endTime":1975.09,"body":"So been quite a number of"},{"speaker":"Alan Smith","startTime":1975.09,"endTime":1980.4299999999998,"body":"changes since we started. And I"},{"speaker":"Alan Smith","startTime":1975.09,"endTime":1980.4299999999998,"body":"at that time, I'm also just"},{"speaker":"Alan Smith","startTime":1980.82,"endTime":1983.6699999999998,"body":"dealing with everything. I'm"},{"speaker":"Alan Smith","startTime":1980.82,"endTime":1983.6699999999998,"body":"recruiting staff. So I'm looking"},{"speaker":"Alan Smith","startTime":1983.6699999999998,"endTime":1986.58,"body":"for staff interviewing, and I'm"},{"speaker":"Alan Smith","startTime":1983.6699999999998,"endTime":1986.58,"body":"the opposite was a believer in"},{"speaker":"Alan Smith","startTime":1986.58,"endTime":1989.01,"body":"doing sort of staff appraisals,"},{"speaker":"Alan Smith","startTime":1986.58,"endTime":1989.01,"body":"and follow ups and quarterly"},{"speaker":"Alan Smith","startTime":1989.01,"endTime":1992.25,"body":"reviews, all that sort of thing."},{"speaker":"Alan Smith","startTime":1989.01,"endTime":1992.25,"body":"So I am flat out with just"},{"speaker":"Alan Smith","startTime":1992.25,"endTime":1997.1699999999998,"body":"activity, and work and you know,"},{"speaker":"Alan Smith","startTime":1992.25,"endTime":1997.1699999999998,"body":"look at the year and a look at"},{"speaker":"Alan Smith","startTime":1997.1699999999998,"endTime":2000.08,"body":"our numbers and our figures. And"},{"speaker":"Alan Smith","startTime":1997.1699999999998,"endTime":2000.08,"body":"then we kind of flatline we"},{"speaker":"Alan Smith","startTime":2000.08,"endTime":2002.54,"body":"weren't we probably weren't best"},{"speaker":"Alan Smith","startTime":2000.08,"endTime":2002.54,"body":"part of three years, and our"},{"speaker":"Alan Smith","startTime":2002.54,"endTime":2004.6999999999998,"body":"revenue numbers were flatline."},{"speaker":"Alan Smith","startTime":2002.54,"endTime":2004.6999999999998,"body":"And we weren't really growing."},{"speaker":"Alan Smith","startTime":2004.6999999999998,"endTime":2009.9199999999998,"body":"And yet, I was just so damn busy"},{"speaker":"Alan Smith","startTime":2004.6999999999998,"endTime":2009.9199999999998,"body":"every day. And I think it was"},{"speaker":"Alan Smith","startTime":2009.9199999999998,"endTime":2013.6999999999998,"body":"very clear to me that I was and"},{"speaker":"Alan Smith","startTime":2009.9199999999998,"endTime":2013.6999999999998,"body":"I just wait, don't say anything,"},{"speaker":"Alan Smith","startTime":2013.6999999999998,"endTime":2017.87,"body":"don't say anything. But I was"},{"speaker":"Alan Smith","startTime":2013.6999999999998,"endTime":2017.87,"body":"mediocre at everything. I"},{"speaker":"Alan Smith","startTime":2017.87,"endTime":2021.4099999999999,"body":"wasn't, I wasn't I wasn't good"},{"speaker":"Alan Smith","startTime":2017.87,"endTime":2021.4099999999999,"body":"at anything. Because I wasn't"},{"speaker":"Alan Smith","startTime":2021.4099999999999,"endTime":2024.59,"body":"very busy. I just didn't have"},{"speaker":"Alan Smith","startTime":2021.4099999999999,"endTime":2024.59,"body":"enough time I was absolute"},{"speaker":"Alan Smith","startTime":2024.59,"endTime":2026.9299999999998,"body":"shambles. I didn't have enough"},{"speaker":"Alan Smith","startTime":2024.59,"endTime":2026.9299999999998,"body":"time to prepare for the"},{"speaker":"Alan Smith","startTime":2026.9299999999998,"endTime":2029.9599999999998,"body":"meetings, I was doing like three"},{"speaker":"Alan Smith","startTime":2026.9299999999998,"endTime":2029.9599999999998,"body":"meetings a day sometimes. And"},{"speaker":"Alan Smith","startTime":2029.9599999999998,"endTime":2034.2199999999998,"body":"I'm running from one meeting to"},{"speaker":"Alan Smith","startTime":2029.9599999999998,"endTime":2034.2199999999998,"body":"the other, then I'm doing you"},{"speaker":"Alan Smith","startTime":2034.2199999999998,"endTime":2036.9799999999998,"body":"know, to speak to my team"},{"speaker":"Alan Smith","startTime":2034.2199999999998,"endTime":2036.9799999999998,"body":"members and recruitment and then"},{"speaker":"Alan Smith","startTime":2037.01,"endTime":2040.04,"body":"trying to build technology"},{"speaker":"Alan Smith","startTime":2037.01,"endTime":2040.04,"body":"within the business, etc. So you"},{"speaker":"Alan Smith","startTime":2040.04,"endTime":2042.6499999999999,"body":"show up for meetings, not fully"},{"speaker":"Alan Smith","startTime":2040.04,"endTime":2042.6499999999999,"body":"as prepared as you'd want to be,"},{"speaker":"Alan Smith","startTime":2042.6499999999999,"endTime":2046.04,"body":"for example, show up to a staff"},{"speaker":"Alan Smith","startTime":2042.6499999999999,"endTime":2046.04,"body":"review appraisal, not fully"},{"speaker":"Alan Smith","startTime":2046.04,"endTime":2048.08,"body":"prepared as much as you want to"},{"speaker":"Alan Smith","startTime":2046.04,"endTime":2048.08,"body":"be because there are so many"},{"speaker":"Alan Smith","startTime":2048.08,"endTime":2051.62,"body":"hours in the day, and I was"},{"speaker":"Alan Smith","startTime":2048.08,"endTime":2051.62,"body":"working long hours. And yet sort"},{"speaker":"Alan Smith","startTime":2051.62,"endTime":2054.08,"body":"of in the short term. I think"},{"speaker":"Alan Smith","startTime":2051.62,"endTime":2054.08,"body":"God we're busy. And then let's"},{"speaker":"Alan Smith","startTime":2054.08,"endTime":2056.48,"body":"check our data and our figures"},{"speaker":"Alan Smith","startTime":2054.08,"endTime":2056.48,"body":"and our numbers. Oh my god,"},{"speaker":"Alan Smith","startTime":2056.48,"endTime":2059.45,"body":"we're not even growing. And I"},{"speaker":"Alan Smith","startTime":2056.48,"endTime":2059.45,"body":"couldn't work. I can't see the"},{"speaker":"Alan Smith","startTime":2059.45,"endTime":2062.09,"body":"wood for the trees couldn't work"},{"speaker":"Alan Smith","startTime":2059.45,"endTime":2062.09,"body":"out. Well, we're not growing"},{"speaker":"Alan Smith","startTime":2062.09,"endTime":2064.67,"body":"because I'm crazy busy. And"},{"speaker":"Alan Smith","startTime":2062.09,"endTime":2064.67,"body":"eventually the penny dropped."},{"speaker":"Alan Smith","startTime":2064.67,"endTime":2067.04,"body":"And the reason we're not growing"},{"speaker":"Alan Smith","startTime":2064.67,"endTime":2067.04,"body":"is because of me. I am the"},{"speaker":"Alan Smith","startTime":2067.04,"endTime":2070.46,"body":"bottleneck in the business."},{"speaker":"Alan Smith","startTime":2067.04,"endTime":2070.46,"body":"Because everything runs through"},{"speaker":"Alan Smith","startTime":2070.46,"endTime":2073.85,"body":"me. Everything goes through me"},{"speaker":"Alan Smith","startTime":2070.46,"endTime":2073.85,"body":"and the vast majority of new"},{"speaker":"Alan Smith","startTime":2073.85,"endTime":2077.18,"body":"prospects, new clients, were"},{"speaker":"Alan Smith","startTime":2073.85,"endTime":2077.18,"body":"coming through me and I just I"},{"speaker":"Alan Smith","startTime":2077.18,"endTime":2079.76,"body":"didn't have enough time to see"},{"speaker":"Alan Smith","startTime":2077.18,"endTime":2079.76,"body":"people. I mean, ridiculous. I,"},{"speaker":"Alan Smith","startTime":2080.3,"endTime":2083.21,"body":"to my shame. There was some"},{"speaker":"Alan Smith","startTime":2080.3,"endTime":2083.21,"body":"people I didn't even call back,"},{"speaker":"Alan Smith","startTime":2083.21,"endTime":2084.95,"body":"you know, we got it I got a"},{"speaker":"Alan Smith","startTime":2083.21,"endTime":2084.95,"body":"referral or something. I didn't"},{"speaker":"Alan Smith","startTime":2084.95,"endTime":2090.11,"body":"call them back. Because I didn't"},{"speaker":"Alan Smith","startTime":2084.95,"endTime":2090.11,"body":"have enough time. Yeah, so I"},{"speaker":"Alan Smith","startTime":2090.11,"endTime":2095.69,"body":"felt something had to change."},{"speaker":"Alan Smith","startTime":2090.11,"endTime":2095.69,"body":"And it was clear to me that you"},{"speaker":"Alan Smith","startTime":2095.69,"endTime":2098.66,"body":"know, where most of my time was"},{"speaker":"Alan Smith","startTime":2095.69,"endTime":2098.66,"body":"was, you know, having client"},{"speaker":"Alan Smith","startTime":2098.66,"endTime":2100.91,"body":"meetings, existing clients. So I"},{"speaker":"Alan Smith","startTime":2098.66,"endTime":2100.91,"body":"thought, right, the first thing"},{"speaker":"Alan Smith","startTime":2100.91,"endTime":2105.08,"body":"I'm going to do, I'm gonna, as I"},{"speaker":"Alan Smith","startTime":2100.91,"endTime":2105.08,"body":"say to other advisors in the"},{"speaker":"Alan Smith","startTime":2105.08,"endTime":2107.51,"body":"team, who weren't as busy as I"},{"speaker":"Alan Smith","startTime":2105.08,"endTime":2107.51,"body":"was super busy enough, but"},{"speaker":"Alan Smith","startTime":2107.51,"endTime":2111.32,"body":"weren't as busy. So I thought,"},{"speaker":"Alan Smith","startTime":2107.51,"endTime":2111.32,"body":"what I'll do is, I look at my,"},{"speaker":"Alan Smith","startTime":2111.35,"endTime":2113.84,"body":"I'll just take every client, if"},{"speaker":"Alan Smith","startTime":2111.35,"endTime":2113.84,"body":"we've got 90 client families,"},{"speaker":"Alan Smith","startTime":2113.84,"endTime":2116.69,"body":"I'll just very simply put it in"},{"speaker":"Alan Smith","startTime":2113.84,"endTime":2116.69,"body":"a spreadsheet and on a"},{"speaker":"Alan Smith","startTime":2117.38,"endTime":2122.87,"body":"annualized revenue basis from"},{"speaker":"Alan Smith","startTime":2117.38,"endTime":2122.87,"body":"the bottom up, you know, remove,"},{"speaker":"Alan Smith","startTime":2122.87,"endTime":2126.2599999999998,"body":"let's say, 40 50% of my client"},{"speaker":"Alan Smith","startTime":2122.87,"endTime":2126.2599999999998,"body":"responsibilities. So they're"},{"speaker":"Alan Smith","startTime":2126.2599999999998,"endTime":2129.44,"body":"kind of the proverbial Mrs."},{"speaker":"Alan Smith","startTime":2126.2599999999998,"endTime":2129.44,"body":"Miggins, who there's the revenue"},{"speaker":"Alan Smith","startTime":2129.44,"endTime":2133.43,"body":"was pretty small, but the"},{"speaker":"Alan Smith","startTime":2129.44,"endTime":2133.43,"body":"requirements and the complexity"},{"speaker":"Alan Smith","startTime":2133.43,"endTime":2136.73,"body":"was pretty small as well. So I"},{"speaker":"Alan Smith","startTime":2133.43,"endTime":2136.73,"body":"carved those out and effectively"},{"speaker":"Alan Smith","startTime":2136.73,"endTime":2139.0699999999997,"body":"transferred them to two other"},{"speaker":"Alan Smith","startTime":2136.73,"endTime":2139.0699999999997,"body":"advisors and the team Graham and"},{"speaker":"Alan Smith","startTime":2139.0699999999997,"endTime":2143.87,"body":"Charles who are still with me"},{"speaker":"Alan Smith","startTime":2139.0699999999997,"endTime":2143.87,"body":"now. Now, there's two things"},{"speaker":"Alan Smith","startTime":2143.87,"endTime":2148.52,"body":"about about that. Well, the"},{"speaker":"Alan Smith","startTime":2143.87,"endTime":2148.52,"body":"first thing is, interestingly,"},{"speaker":"Alan Smith","startTime":2148.52,"endTime":2151.64,"body":"having done that, and we can"},{"speaker":"Alan Smith","startTime":2148.52,"endTime":2151.64,"body":"talk later if you want about the"},{"speaker":"Alan Smith","startTime":2151.7,"endTime":2154.31,"body":"communication process, how you"},{"speaker":"Alan Smith","startTime":2151.7,"endTime":2154.31,"body":"had to search for how we had to"},{"speaker":"Alan Smith","startTime":2154.31,"endTime":2156.5,"body":"sell this both to the my"},{"speaker":"Alan Smith","startTime":2154.31,"endTime":2156.5,"body":"colleagues and enter the"},{"speaker":"Alan Smith","startTime":2156.5,"endTime":2162.44,"body":"clients. But interestingly, my"},{"speaker":"Alan Smith","startTime":2156.5,"endTime":2162.44,"body":"calendar and my commitments"},{"speaker":"Alan Smith","startTime":2162.44,"endTime":2165.65,"body":"didn't reduce that much. Quite"},{"speaker":"Alan Smith","startTime":2162.44,"endTime":2165.65,"body":"interesting is is one of the"},{"speaker":"Alan Smith","startTime":2165.65,"endTime":2168.41,"body":"colors kind of the 8020 split"},{"speaker":"Alan Smith","startTime":2165.65,"endTime":2168.41,"body":"what you realize eventually,"},{"speaker":"Alan Smith","startTime":2168.71,"endTime":2171.47,"body":"that those bigger clients, they"},{"speaker":"Alan Smith","startTime":2168.71,"endTime":2171.47,"body":"are more time consuming. There's"},{"speaker":"Alan Smith","startTime":2171.47,"endTime":2174.0499999999997,"body":"more going on. There's more"},{"speaker":"Alan Smith","startTime":2171.47,"endTime":2174.0499999999997,"body":"complexity, they want to speak"},{"speaker":"Alan Smith","startTime":2174.0499999999997,"endTime":2176.42,"body":"to you more they want to there's"},{"speaker":"Alan Smith","startTime":2174.0499999999997,"endTime":2176.42,"body":"more phone calls, there's more"},{"speaker":"Alan Smith","startTime":2176.42,"endTime":2179.45,"body":"meetings than someone else. So"},{"speaker":"Alan Smith","startTime":2176.42,"endTime":2179.45,"body":"although I sort of carved out a"},{"speaker":"Alan Smith","startTime":2179.48,"endTime":2182.7799999999997,"body":"big chunk of clients and pass"},{"speaker":"Alan Smith","startTime":2179.48,"endTime":2182.7799999999997,"body":"them on, just free up more time"},{"speaker":"Alan Smith","startTime":2182.7799999999997,"endTime":2186.08,"body":"for myself to do other things, I"},{"speaker":"Alan Smith","startTime":2182.7799999999997,"endTime":2186.08,"body":"didn't free up a lot, a lot more"},{"speaker":"Alan Smith","startTime":2186.08,"endTime":2190.52,"body":"extra time. So I eventually bit"},{"speaker":"Alan Smith","startTime":2186.08,"endTime":2190.52,"body":"the bullet and transferred the"},{"speaker":"Alan Smith","startTime":2190.52,"endTime":2194.39,"body":"whole book of business to my"},{"speaker":"Alan Smith","startTime":2190.52,"endTime":2194.39,"body":"colleagues. Every single client"},{"speaker":"Alan Smith","startTime":2194.39,"endTime":2197.15,"body":"I had I transferred across, what"},{"speaker":"Alan Smith","startTime":2194.39,"endTime":2197.15,"body":"I mean is for primary"},{"speaker":"Alan Smith","startTime":2197.15,"endTime":2199.7599999999998,"body":"responsibility, I was still"},{"speaker":"Alan Smith","startTime":2197.15,"endTime":2199.7599999999998,"body":"going to be there, I was going"},{"speaker":"Alan Smith","startTime":2199.7599999999998,"endTime":2201.92,"body":"to be in the background, I was"},{"speaker":"Alan Smith","startTime":2199.7599999999998,"endTime":2201.92,"body":"going to play a more strategic"},{"speaker":"Alan Smith","startTime":2201.92,"endTime":2204.5299999999997,"body":"role. And depending on which"},{"speaker":"Alan Smith","startTime":2201.92,"endTime":2204.5299999999997,"body":"clients it was, I was still"},{"speaker":"Alan Smith","startTime":2204.5299999999997,"endTime":2206.93,"body":"attend all or most of the"},{"speaker":"Alan Smith","startTime":2204.5299999999997,"endTime":2206.93,"body":"meetings going forward, but it"},{"speaker":"Alan Smith","startTime":2206.93,"endTime":2210.38,"body":"was no longer responsible for"},{"speaker":"Alan Smith","startTime":2206.93,"endTime":2210.38,"body":"the granular bits for actually"},{"speaker":"Alan Smith","startTime":2210.38,"endTime":2213.17,"body":"writing advice reports and all"},{"speaker":"Alan Smith","startTime":2210.38,"endTime":2213.17,"body":"that other day to day"},{"speaker":"Alan Smith","startTime":2213.17,"endTime":2216.83,"body":"communication that's required. I"},{"speaker":"Alan Smith","startTime":2213.17,"endTime":2216.83,"body":"remember at the time, I was"},{"speaker":"Alan Smith","startTime":2216.83,"endTime":2219.83,"body":"speaking to a number of other"},{"speaker":"Alan Smith","startTime":2216.83,"endTime":2219.83,"body":"colleagues of mine other people"},{"speaker":"Alan Smith","startTime":2219.83,"endTime":2222.98,"body":"who were running advice"},{"speaker":"Alan Smith","startTime":2219.83,"endTime":2222.98,"body":"businesses, and to a man or"},{"speaker":"Alan Smith","startTime":2222.98,"endTime":2227.0299999999997,"body":"woman, they all said, You're"},{"speaker":"Alan Smith","startTime":2222.98,"endTime":2227.0299999999997,"body":"effing crazy. Why the hell would"},{"speaker":"Alan Smith","startTime":2227.0299999999997,"endTime":2230.81,"body":"you do that? Because if you want"},{"speaker":"Alan Smith","startTime":2227.0299999999997,"endTime":2230.81,"body":"what's, what will happen? If"},{"speaker":"Alan Smith","startTime":2230.81,"endTime":2232.97,"body":"your advisors then leave and"},{"speaker":"Alan Smith","startTime":2230.81,"endTime":2232.97,"body":"take all the clients with them?"},{"speaker":"Alan Smith","startTime":2233.45,"endTime":2235.43,"body":"That's, you know, you're running"},{"speaker":"Alan Smith","startTime":2233.45,"endTime":2235.43,"body":"a big risk there."},{"speaker":"Nick Lincoln","startTime":2235.49,"endTime":2237.62,"body":"Well, that is that"},{"speaker":"Nick Lincoln","startTime":2235.49,"endTime":2237.62,"body":"is the that's the story of"},{"speaker":"Nick Lincoln","startTime":2237.62,"endTime":2239.06,"body":"financial services, isn't it?"},{"speaker":"Alan Smith","startTime":2239.24,"endTime":2242.63,"body":"Yeah. Yeah, it is."},{"speaker":"Alan Smith","startTime":2239.24,"endTime":2242.63,"body":"But I and it's true, of course,"},{"speaker":"Alan Smith","startTime":2242.63,"endTime":2246.14,"body":"but And my answer was, well, if"},{"speaker":"Alan Smith","startTime":2242.63,"endTime":2246.14,"body":"I don't do this, we're done. As"},{"speaker":"Alan Smith","startTime":2246.14,"endTime":2248.69,"body":"a business we are now this is"},{"speaker":"Alan Smith","startTime":2246.14,"endTime":2248.69,"body":"the this is this is the most"},{"speaker":"Alan Smith","startTime":2248.69,"endTime":2251.99,"body":"will ever grow by, we will grow"},{"speaker":"Alan Smith","startTime":2248.69,"endTime":2251.99,"body":"very will grow, we always get a"},{"speaker":"Alan Smith","startTime":2251.99,"endTime":2255.38,"body":"few referrals without trying too"},{"speaker":"Alan Smith","startTime":2251.99,"endTime":2255.38,"body":"hard, every decent firm does."},{"speaker":"Alan Smith","startTime":2256.0699999999997,"endTime":2259.88,"body":"But we can no longer have our"},{"speaker":"Alan Smith","startTime":2256.0699999999997,"endTime":2259.88,"body":"foot to the pedal, really, and"},{"speaker":"Alan Smith","startTime":2259.88,"endTime":2262.5499999999997,"body":"really grow. Because that takes"},{"speaker":"Alan Smith","startTime":2259.88,"endTime":2262.5499999999997,"body":"that just takes time. It takes"},{"speaker":"Alan Smith","startTime":2262.5499999999997,"endTime":2265.97,"body":"budget, it takes activities to"},{"speaker":"Alan Smith","startTime":2262.5499999999997,"endTime":2265.97,"body":"really go after a more focused"},{"speaker":"Alan Smith","startTime":2265.97,"endTime":2268.7,"body":"growth strategy. And I didn't"},{"speaker":"Alan Smith","startTime":2265.97,"endTime":2268.7,"body":"have much more to give in that."},{"speaker":"Alan Smith","startTime":2268.7,"endTime":2271.94,"body":"So my answer was, well, I have"},{"speaker":"Alan Smith","startTime":2268.7,"endTime":2271.94,"body":"no choice if I want to continue"},{"speaker":"Alan Smith","startTime":2271.94,"endTime":2275.7799999999997,"body":"to grow the business, which I"},{"speaker":"Alan Smith","startTime":2271.94,"endTime":2275.7799999999997,"body":"did. And secondly, I guess the"},{"speaker":"Alan Smith","startTime":2275.81,"endTime":2278.27,"body":"the issue was a fair amount as"},{"speaker":"Alan Smith","startTime":2275.81,"endTime":2278.27,"body":"to say this was 10 years ago,"},{"speaker":"Alan Smith","startTime":2278.27,"endTime":2280.85,"body":"when I started doing it, I was"},{"speaker":"Alan Smith","startTime":2278.27,"endTime":2280.85,"body":"still I wasn't signing, I wasn't"},{"speaker":"Alan Smith","startTime":2280.85,"endTime":2285.38,"body":"resigning my authorizations of"},{"speaker":"Alan Smith","startTime":2280.85,"endTime":2285.38,"body":"FCA regulations, which I have"},{"speaker":"Alan Smith","startTime":2285.38,"endTime":2289.73,"body":"done that, but in that, in that"},{"speaker":"Alan Smith","startTime":2285.38,"endTime":2289.73,"body":"in those days, I was continuing"},{"speaker":"Alan Smith","startTime":2289.73,"endTime":2294.89,"body":"to be regulated. But my view was"},{"speaker":"Alan Smith","startTime":2289.73,"endTime":2294.89,"body":"if you create an environment"},{"speaker":"Alan Smith","startTime":2294.89,"endTime":2297.2,"body":"when nobody really wants to"},{"speaker":"Alan Smith","startTime":2294.89,"endTime":2297.2,"body":"leave, because they're well"},{"speaker":"Alan Smith","startTime":2297.2,"endTime":2300.92,"body":"looked after you deliver on your"},{"speaker":"Alan Smith","startTime":2297.2,"endTime":2300.92,"body":"promises, then why would you"},{"speaker":"Alan Smith","startTime":2300.92,"endTime":2303.74,"body":"leave and go somewhere else,"},{"speaker":"Alan Smith","startTime":2300.92,"endTime":2303.74,"body":"where you know what, for a few"},{"speaker":"Alan Smith","startTime":2303.74,"endTime":2305.93,"body":"more, they might get a better"},{"speaker":"Alan Smith","startTime":2303.74,"endTime":2305.93,"body":"deal on there, you know, people"},{"speaker":"Alan Smith","startTime":2305.93,"endTime":2309.1099999999997,"body":"here generally, I would think,"},{"speaker":"Alan Smith","startTime":2305.93,"endTime":2309.1099999999997,"body":"pretty well paid the"},{"speaker":"Alan Smith","startTime":2309.1099999999997,"endTime":2312.3199999999997,"body":"environment, the culture is very"},{"speaker":"Alan Smith","startTime":2309.1099999999997,"endTime":2312.3199999999997,"body":"good, very positive. And so but"},{"speaker":"Alan Smith","startTime":2312.95,"endTime":2315.62,"body":"anyone running a business, and"},{"speaker":"Alan Smith","startTime":2312.95,"endTime":2315.62,"body":"entrepreneurship is sort of"},{"speaker":"Alan Smith","startTime":2315.62,"endTime":2320.06,"body":"taking calculated risks. So I"},{"speaker":"Alan Smith","startTime":2315.62,"endTime":2320.06,"body":"did it. And I stepped back from"},{"speaker":"Alan Smith","startTime":2320.06,"endTime":2323.75,"body":"the day to day responsibility"},{"speaker":"Alan Smith","startTime":2320.06,"endTime":2323.75,"body":"for the advice roll. And what's"},{"speaker":"Alan Smith","startTime":2323.75,"endTime":2326.8399999999997,"body":"interesting is at that moment,"},{"speaker":"Alan Smith","startTime":2323.75,"endTime":2326.8399999999997,"body":"you look at your calendar ahead"},{"speaker":"Alan Smith","startTime":2326.9,"endTime":2329.9,"body":"and is empty for a short period"},{"speaker":"Alan Smith","startTime":2326.9,"endTime":2329.9,"body":"of time quickly fills up. But"},{"speaker":"Alan Smith","startTime":2329.9,"endTime":2333.08,"body":"it's, it's very reassuring and"},{"speaker":"Alan Smith","startTime":2329.9,"endTime":2333.08,"body":"very kind of therapeutic to have"},{"speaker":"Alan Smith","startTime":2333.08,"endTime":2336.2,"body":"no longer any regular"},{"speaker":"Alan Smith","startTime":2333.08,"endTime":2336.2,"body":"commitments to ongoing client"},{"speaker":"Alan Smith","startTime":2336.2,"endTime":2339.3199999999997,"body":"meetings. So I mean, that's,"},{"speaker":"Alan Smith","startTime":2336.2,"endTime":2339.3199999999997,"body":"that's the headlines of it. And"},{"speaker":"Alan Smith","startTime":2339.3199999999997,"endTime":2343.31,"body":"as I said, at the beginning of"},{"speaker":"Alan Smith","startTime":2339.3199999999997,"endTime":2343.31,"body":"this, in Carl's been having a"},{"speaker":"Alan Smith","startTime":2343.31,"endTime":2346.25,"body":"few conversations recently, and"},{"speaker":"Alan Smith","startTime":2343.31,"endTime":2346.25,"body":"I've taken calls, obviously, I"},{"speaker":"Alan Smith","startTime":2346.25,"endTime":2348.74,"body":"won't name names, but from a"},{"speaker":"Alan Smith","startTime":2346.25,"endTime":2348.74,"body":"number of other people in very"},{"speaker":"Alan Smith","startTime":2348.74,"endTime":2351.44,"body":"similar situations to me, where"},{"speaker":"Alan Smith","startTime":2348.74,"endTime":2351.44,"body":"they are the founder, the main"},{"speaker":"Alan Smith","startTime":2351.44,"endTime":2355.2799999999997,"body":"person, and all the kind of the"},{"speaker":"Alan Smith","startTime":2351.44,"endTime":2355.2799999999997,"body":"big client referrals, or the big"},{"speaker":"Alan Smith","startTime":2355.2799999999997,"endTime":2357.41,"body":"sort of opportunities come to"},{"speaker":"Alan Smith","startTime":2355.2799999999997,"endTime":2357.41,"body":"that person, they're the kind of"},{"speaker":"Alan Smith","startTime":2357.41,"endTime":2359.75,"body":"key person of influence within"},{"speaker":"Alan Smith","startTime":2357.41,"endTime":2359.75,"body":"the brand within the company."},{"speaker":"Alan Smith","startTime":2360.47,"endTime":2364.88,"body":"And once you get to depend on"},{"speaker":"Alan Smith","startTime":2360.47,"endTime":2364.88,"body":"your, how efficient you are"},{"speaker":"Alan Smith","startTime":2364.88,"endTime":2370.31,"body":"5070 100 or so clients, then"},{"speaker":"Alan Smith","startTime":2364.88,"endTime":2370.31,"body":"you're you don't have enough"},{"speaker":"Alan Smith","startTime":2370.31,"endTime":2374.18,"body":"time left to be that strategic,"},{"speaker":"Alan Smith","startTime":2370.31,"endTime":2374.18,"body":"visionary. So at some point,"},{"speaker":"Alan Smith","startTime":2374.18,"endTime":2376.64,"body":"you're gonna have to take a"},{"speaker":"Alan Smith","startTime":2374.18,"endTime":2376.64,"body":"decision, either gonna continue"},{"speaker":"Alan Smith","startTime":2376.64,"endTime":2379.1,"body":"to be a financial planner, or"},{"speaker":"Alan Smith","startTime":2376.64,"endTime":2379.1,"body":"you don't have to hire somebody"},{"speaker":"Alan Smith","startTime":2379.1,"endTime":2384.17,"body":"to be like an MD and do all"},{"speaker":"Alan Smith","startTime":2379.1,"endTime":2384.17,"body":"those MD CEO type roles. So with"},{"speaker":"Alan Smith","startTime":2384.17,"endTime":2387.38,"body":"I thought, having had a few"},{"speaker":"Alan Smith","startTime":2384.17,"endTime":2387.38,"body":"calls and messages directly from"},{"speaker":"Alan Smith","startTime":2387.38,"endTime":2389.5699999999997,"body":"people going through exactly"},{"speaker":"Alan Smith","startTime":2387.38,"endTime":2389.5699999999997,"body":"that, then we bring it up as a"},{"speaker":"Alan Smith","startTime":2389.5699999999997,"endTime":2393.83,"body":"topic as a meat and potatoes. So"},{"speaker":"Alan Smith","startTime":2389.5699999999997,"endTime":2393.83,"body":"any thoughts? I know it doesn't"},{"speaker":"Alan Smith","startTime":2393.83,"endTime":2396.71,"body":"impact you quite as much. But"},{"speaker":"Alan Smith","startTime":2393.83,"endTime":2396.71,"body":"Nick, Andy,"},{"speaker":"Nick Lincoln","startTime":2396.98,"endTime":2398.96,"body":"will pass over to"},{"speaker":"Nick Lincoln","startTime":2396.98,"endTime":2398.96,"body":"Randy in a second. That's"},{"speaker":"Nick Lincoln","startTime":2398.96,"endTime":2401.3599999999997,"body":"interesting, Alan, because I"},{"speaker":"Nick Lincoln","startTime":2398.96,"endTime":2401.3599999999997,"body":"think I mentioned many firms,"},{"speaker":"Nick Lincoln","startTime":2401.3599999999997,"endTime":2404.15,"body":"they, they they'll bring"},{"speaker":"Nick Lincoln","startTime":2401.3599999999997,"endTime":2404.15,"body":"somebody in an MD to sort of run"},{"speaker":"Nick Lincoln","startTime":2404.15,"endTime":2406.8199999999997,"body":"the firm and that's me, it will"},{"speaker":"Nick Lincoln","startTime":2404.15,"endTime":2406.8199999999997,"body":"be laden with more problems than"},{"speaker":"Nick Lincoln","startTime":2406.8199999999997,"endTime":2409.5499999999997,"body":"just acknowledging that you"},{"speaker":"Nick Lincoln","startTime":2406.8199999999997,"endTime":2409.5499999999997,"body":"know, your days as an advisor"},{"speaker":"Nick Lincoln","startTime":2409.58,"endTime":2412.25,"body":"are over, because you're not"},{"speaker":"Nick Lincoln","startTime":2409.58,"endTime":2412.25,"body":"needed to be an advisor, you're"},{"speaker":"Nick Lincoln","startTime":2412.25,"endTime":2415.2799999999997,"body":"still needed to be front of"},{"speaker":"Nick Lincoln","startTime":2412.25,"endTime":2415.2799999999997,"body":"house and to and to woo, to woo"},{"speaker":"Nick Lincoln","startTime":2415.2799999999997,"endTime":2417.92,"body":"prospects into your firm and to"},{"speaker":"Nick Lincoln","startTime":2415.2799999999997,"endTime":2417.92,"body":"and to make sure that the firm"},{"speaker":"Nick Lincoln","startTime":2417.92,"endTime":2421.58,"body":"ethos is there and consistent"},{"speaker":"Nick Lincoln","startTime":2417.92,"endTime":2421.58,"body":"and everything else. But I think"},{"speaker":"Nick Lincoln","startTime":2421.58,"endTime":2423.98,"body":"what the way you've done it is,"},{"speaker":"Nick Lincoln","startTime":2421.58,"endTime":2423.98,"body":"is admirable, it's obviously"},{"speaker":"Nick Lincoln","startTime":2423.98,"endTime":2426.77,"body":"paid off. That's also about"},{"speaker":"Nick Lincoln","startTime":2423.98,"endTime":2426.77,"body":"subsuming your ego, isn't it?"},{"speaker":"Nick Lincoln","startTime":2426.7999999999997,"endTime":2430.7,"body":"You know, it's you know, I you"},{"speaker":"Nick Lincoln","startTime":2426.7999999999997,"endTime":2430.7,"body":"know, I'm an advisor now I'm not"},{"speaker":"Nick Lincoln","startTime":2430.7,"endTime":2432.65,"body":"an advisor, but you know, you're"},{"speaker":"Nick Lincoln","startTime":2430.7,"endTime":2432.65,"body":"you're still involved in the"},{"speaker":"Nick Lincoln","startTime":2432.65,"endTime":2435.77,"body":"planning meetings and so forth."},{"speaker":"Nick Lincoln","startTime":2432.65,"endTime":2435.77,"body":"You're still you're still"},{"speaker":"Nick Lincoln","startTime":2435.77,"endTime":2439.73,"body":"imprinting the company ethos,"},{"speaker":"Nick Lincoln","startTime":2435.77,"endTime":2439.73,"body":"through your own values on the"},{"speaker":"Nick Lincoln","startTime":2439.73,"endTime":2442.19,"body":"poor saps of capital, who"},{"speaker":"Nick Lincoln","startTime":2439.73,"endTime":2442.19,"body":"obviously do love what you're"},{"speaker":"Nick Lincoln","startTime":2442.19,"endTime":2444.62,"body":"doing because you have very"},{"speaker":"Nick Lincoln","startTime":2442.19,"endTime":2444.62,"body":"little attrition rate and, you"},{"speaker":"Nick Lincoln","startTime":2444.62,"endTime":2449.0,"body":"know, the doubt Charles and so"},{"speaker":"Nick Lincoln","startTime":2444.62,"endTime":2449.0,"body":"the other guy, Graham on, you"},{"speaker":"Nick Lincoln","startTime":2449.0,"endTime":2452.96,"body":"know, they've been they've been"},{"speaker":"Nick Lincoln","startTime":2449.0,"endTime":2452.96,"body":"there for, you know, for"},{"speaker":"Nick Lincoln","startTime":2452.96,"endTime":2456.8599999999997,"body":"donkey's years, so credit to"},{"speaker":"Nick Lincoln","startTime":2452.96,"endTime":2456.8599999999997,"body":"you. So and you and I, the other"},{"speaker":"Nick Lincoln","startTime":2456.8599999999997,"endTime":2460.22,"body":"extreme in terms of size of"},{"speaker":"Nick Lincoln","startTime":2456.8599999999997,"endTime":2460.22,"body":"staff, and so forth. What's your"},{"speaker":"Nick Lincoln","startTime":2460.22,"endTime":2460.6099999999997,"body":"take,"},{"speaker":"Andy Hart","startTime":2460.79,"endTime":2463.43,"body":"you know, a couple of"},{"speaker":"Andy Hart","startTime":2460.79,"endTime":2463.43,"body":"points on on Alan I mean, I"},{"speaker":"Andy Hart","startTime":2463.43,"endTime":2466.52,"body":"think the position is in at the"},{"speaker":"Andy Hart","startTime":2463.43,"endTime":2466.52,"body":"moment is is fantastic. I know"},{"speaker":"Andy Hart","startTime":2466.52,"endTime":2471.47,"body":"and situation very well. I don't"},{"speaker":"Andy Hart","startTime":2466.52,"endTime":2471.47,"body":"know if it's more luck or"},{"speaker":"Andy Hart","startTime":2471.47,"endTime":2474.68,"body":"judgment. I'm thinking it's more"},{"speaker":"Andy Hart","startTime":2471.47,"endTime":2474.68,"body":"luck that he's got himself into"},{"speaker":"Andy Hart","startTime":2474.68,"endTime":2478.97,"body":"that position. Yeah, you're just"},{"speaker":"Andy Hart","startTime":2474.68,"endTime":2478.97,"body":"not cut off of the technical"},{"speaker":"Andy Hart","startTime":2478.97,"endTime":2482.21,"body":"side. Are you really Alan and"},{"speaker":"Andy Hart","startTime":2478.97,"endTime":2482.21,"body":"the way it sort of become way"},{"speaker":"Andy Hart","startTime":2482.21,"endTime":2483.3199999999997,"body":"more technical and,"},{"speaker":"Alan Smith","startTime":2483.92,"endTime":2487.88,"body":"and totally with"},{"speaker":"Alan Smith","startTime":2483.92,"endTime":2487.88,"body":"respect is yeah, it's not I do"},{"speaker":"Alan Smith","startTime":2487.88,"endTime":2491.63,"body":"believe in embracing what you"},{"speaker":"Alan Smith","startTime":2487.88,"endTime":2491.63,"body":"enjoy doing before I resigned my"},{"speaker":"Alan Smith","startTime":2491.63,"endTime":2494.42,"body":"role, I was qualified up the"},{"speaker":"Alan Smith","startTime":2491.63,"endTime":2494.42,"body":"ying yang, I've got all my"},{"speaker":"Alan Smith","startTime":2494.42,"endTime":2498.95,"body":"technical had to do that. But I"},{"speaker":"Alan Smith","startTime":2494.42,"endTime":2498.95,"body":"think this is this is really,"},{"speaker":"Alan Smith","startTime":2498.95,"endTime":2501.62,"body":"really important. So because"},{"speaker":"Alan Smith","startTime":2498.95,"endTime":2501.62,"body":"it's true is getting you know"},{"speaker":"Alan Smith","startTime":2501.65,"endTime":2504.47,"body":"what they talk about being in"},{"speaker":"Alan Smith","startTime":2501.65,"endTime":2504.47,"body":"flow, there's some things you're"},{"speaker":"Alan Smith","startTime":2504.47,"endTime":2508.43,"body":"doing, and you just love it."},{"speaker":"Alan Smith","startTime":2504.47,"endTime":2508.43,"body":"Yeah, I can't believe. Yeah,"},{"speaker":"Alan Smith","startTime":2508.43,"endTime":2512.33,"body":"loving Well, if I'm going deep"},{"speaker":"Alan Smith","startTime":2508.43,"endTime":2512.33,"body":"in the weeds of on pension,"},{"speaker":"Alan Smith","startTime":2512.33,"endTime":2515.42,"body":"technical calculations, that is"},{"speaker":"Alan Smith","startTime":2512.33,"endTime":2515.42,"body":"not flow for me, every minute"},{"speaker":"Alan Smith","startTime":2515.42,"endTime":2517.79,"body":"feels like an hour, I just don't"},{"speaker":"Alan Smith","startTime":2515.42,"endTime":2517.79,"body":"like doing it just the person"},{"speaker":"Alan Smith","startTime":2517.79,"endTime":2521.42,"body":"has personality. And even"},{"speaker":"Alan Smith","startTime":2517.79,"endTime":2521.42,"body":"actually, frankly, on the client"},{"speaker":"Alan Smith","startTime":2521.42,"endTime":2525.68,"body":"meetings, when I started doing"},{"speaker":"Alan Smith","startTime":2521.42,"endTime":2525.68,"body":"this, I used to love every"},{"speaker":"Alan Smith","startTime":2525.68,"endTime":2528.5,"body":"client meeting, just love it, it"},{"speaker":"Alan Smith","startTime":2525.68,"endTime":2528.5,"body":"was just the impact we were"},{"speaker":"Alan Smith","startTime":2528.5,"endTime":2531.3199999999997,"body":"making and seeing the sort of"},{"speaker":"Alan Smith","startTime":2528.5,"endTime":2531.3199999999997,"body":"penny drop moments, goosebump"},{"speaker":"Alan Smith","startTime":2531.3199999999997,"endTime":2533.66,"body":"moments and all the rest of it."},{"speaker":"Alan Smith","startTime":2531.3199999999997,"endTime":2533.66,"body":"But I've done hundreds and"},{"speaker":"Alan Smith","startTime":2533.66,"endTime":2535.79,"body":"hundreds and hundreds of them."},{"speaker":"Alan Smith","startTime":2533.66,"endTime":2535.79,"body":"And I wouldn't say I didn't, I"},{"speaker":"Alan Smith","startTime":2535.79,"endTime":2538.22,"body":"disliked it, but I didn't have"},{"speaker":"Alan Smith","startTime":2535.79,"endTime":2538.22,"body":"the same love for it to the same"},{"speaker":"Alan Smith","startTime":2538.22,"endTime":2540.77,"body":"degree. And yeah, I remember"},{"speaker":"Alan Smith","startTime":2538.22,"endTime":2540.77,"body":"speaking to and shout out to"},{"speaker":"Alan Smith","startTime":2540.77,"endTime":2544.13,"body":"Charles, for example. He said,"},{"speaker":"Alan Smith","startTime":2540.77,"endTime":2544.13,"body":"When I'm in those meetings, I"},{"speaker":"Alan Smith","startTime":2544.13,"endTime":2547.25,"body":"just I just love it, I don't"},{"speaker":"Alan Smith","startTime":2544.13,"endTime":2547.25,"body":"want to ever not been as meeting"},{"speaker":"Alan Smith","startTime":2547.25,"endTime":2549.95,"body":"since. So that's interesting as"},{"speaker":"Alan Smith","startTime":2547.25,"endTime":2549.95,"body":"well, I think as a, if you're an"},{"speaker":"Alan Smith","startTime":2549.95,"endTime":2552.41,"body":"owner, founder, just if you"},{"speaker":"Alan Smith","startTime":2549.95,"endTime":2552.41,"body":"really love them, and you don't"},{"speaker":"Alan Smith","startTime":2552.41,"endTime":2555.02,"body":"ever stop doing them, then fine."},{"speaker":"Alan Smith","startTime":2552.41,"endTime":2555.02,"body":"But you need to create some sort"},{"speaker":"Alan Smith","startTime":2555.02,"endTime":2558.08,"body":"of other resource within your"},{"speaker":"Alan Smith","startTime":2555.02,"endTime":2558.08,"body":"business to do that. And I just"},{"speaker":"Alan Smith","startTime":2558.08,"endTime":2560.9,"body":"wasn't loving doing all that"},{"speaker":"Alan Smith","startTime":2558.08,"endTime":2560.9,"body":"stuff anymore. And, and also,"},{"speaker":"Alan Smith","startTime":2560.9,"endTime":2561.74,"body":"yeah, you've"},{"speaker":"Andy Hart","startTime":2561.92,"endTime":2564.5899999999997,"body":"got a great team. So"},{"speaker":"Andy Hart","startTime":2561.92,"endTime":2564.5899999999997,"body":"you don't really have too many"},{"speaker":"Andy Hart","startTime":2564.5899999999997,"endTime":2568.0699999999997,"body":"horror stories about hiring"},{"speaker":"Andy Hart","startTime":2564.5899999999997,"endTime":2568.0699999999997,"body":"someone for five years. And"},{"speaker":"Andy Hart","startTime":2568.0699999999997,"endTime":2571.04,"body":"then, you know, draining all the"},{"speaker":"Andy Hart","startTime":2568.0699999999997,"endTime":2571.04,"body":"fun out of the business and"},{"speaker":"Andy Hart","startTime":2571.04,"endTime":2573.5,"body":"having to get rid of him for two"},{"speaker":"Andy Hart","startTime":2571.04,"endTime":2573.5,"body":"years. And he, again, we hear"},{"speaker":"Andy Hart","startTime":2573.5,"endTime":2576.65,"body":"that from other people. And it's"},{"speaker":"Andy Hart","startTime":2573.5,"endTime":2576.65,"body":"that combination, isn't it with"},{"speaker":"Andy Hart","startTime":2576.65,"endTime":2580.22,"body":"financial advisors, you're"},{"speaker":"Andy Hart","startTime":2576.65,"endTime":2580.22,"body":"either client smart or Business"},{"speaker":"Andy Hart","startTime":2580.22,"endTime":2584.3599999999997,"body":"Smart, or both. Yeah. And that"},{"speaker":"Andy Hart","startTime":2580.22,"endTime":2584.3599999999997,"body":"is obviously what everybody"},{"speaker":"Andy Hart","startTime":2584.3599999999997,"endTime":2586.31,"body":"needs to try to some people are"},{"speaker":"Andy Hart","startTime":2584.3599999999997,"endTime":2586.31,"body":"just superb with the client"},{"speaker":"Andy Hart","startTime":2586.31,"endTime":2588.47,"body":"work. So clients might, but they"},{"speaker":"Andy Hart","startTime":2586.31,"endTime":2588.47,"body":"can't run businesses, other"},{"speaker":"Andy Hart","startTime":2588.47,"endTime":2590.15,"body":"people just run businesses, and"},{"speaker":"Andy Hart","startTime":2588.47,"endTime":2590.15,"body":"they want to see a client,"},{"speaker":"Andy Hart","startTime":2590.15,"endTime":2592.58,"body":"again, the dangerous people are"},{"speaker":"Andy Hart","startTime":2590.15,"endTime":2592.58,"body":"the people that can do both, you"},{"speaker":"Andy Hart","startTime":2592.58,"endTime":2595.79,"body":"know, clients smarter business"},{"speaker":"Andy Hart","startTime":2592.58,"endTime":2595.79,"body":"model. Anyway, so I'll throw in"},{"speaker":"Andy Hart","startTime":2595.79,"endTime":2598.8199999999997,"body":"my two pens. I know a lot of the"},{"speaker":"Andy Hart","startTime":2595.79,"endTime":2598.8199999999997,"body":"listeners are solo advisors, and"},{"speaker":"Andy Hart","startTime":2598.8199999999997,"endTime":2602.9,"body":"a lot of people plan to be solo"},{"speaker":"Andy Hart","startTime":2598.8199999999997,"endTime":2602.9,"body":"advisors. You know, I outsource"},{"speaker":"Andy Hart","startTime":2602.9,"endTime":2605.24,"body":"as much as I can within my"},{"speaker":"Andy Hart","startTime":2602.9,"endTime":2605.24,"body":"business, but I still keep the"},{"speaker":"Andy Hart","startTime":2605.24,"endTime":2608.5099999999998,"body":"client communication and the"},{"speaker":"Andy Hart","startTime":2605.24,"endTime":2608.5099999999998,"body":"client planning work with me as"},{"speaker":"Andy Hart","startTime":2608.5099999999998,"endTime":2612.41,"body":"such, and then I oversee"},{"speaker":"Andy Hart","startTime":2608.5099999999998,"endTime":2612.41,"body":"everything within it. We've"},{"speaker":"Andy Hart","startTime":2612.41,"endTime":2615.89,"body":"spoken before about the Colin"},{"speaker":"Andy Hart","startTime":2612.41,"endTime":2615.89,"body":"Lawson elegant exit, which is"},{"speaker":"Andy Hart","startTime":2615.89,"endTime":2621.1099999999997,"body":"like a big company that has"},{"speaker":"Andy Hart","startTime":2615.89,"endTime":2621.1099999999997,"body":"usually a single founder or"},{"speaker":"Andy Hart","startTime":2621.1099999999997,"endTime":2623.12,"body":"maybe two founders, then they"},{"speaker":"Andy Hart","startTime":2621.1099999999997,"endTime":2623.12,"body":"end up selling the business to"},{"speaker":"Andy Hart","startTime":2623.12,"endTime":2626.8399999999997,"body":"the clients. It's sort of a win"},{"speaker":"Andy Hart","startTime":2623.12,"endTime":2626.8399999999997,"body":"win for the clients and win win"},{"speaker":"Andy Hart","startTime":2626.8399999999997,"endTime":2629.45,"body":"for the for the for the"},{"speaker":"Andy Hart","startTime":2626.8399999999997,"endTime":2629.45,"body":"founders, what I have heard"},{"speaker":"Andy Hart","startTime":2629.48,"endTime":2632.12,"body":"other solo advisors do and once"},{"speaker":"Andy Hart","startTime":2629.48,"endTime":2632.12,"body":"I've got the business to a"},{"speaker":"Andy Hart","startTime":2632.12,"endTime":2637.58,"body":"certain level is hiring. So"},{"speaker":"Andy Hart","startTime":2632.12,"endTime":2637.58,"body":"firing themselves in some ways,"},{"speaker":"Andy Hart","startTime":2637.58,"endTime":2641.81,"body":"and hiring a regulated advisor"},{"speaker":"Andy Hart","startTime":2637.58,"endTime":2641.81,"body":"to take over all of the"},{"speaker":"Andy Hart","startTime":2641.81,"endTime":2645.89,"body":"maintenance of the client work."},{"speaker":"Andy Hart","startTime":2641.81,"endTime":2645.89,"body":"But the person who's resigning,"},{"speaker":"Andy Hart","startTime":2645.89,"endTime":2649.7599999999998,"body":"let's say the original founder,"},{"speaker":"Andy Hart","startTime":2645.89,"endTime":2649.7599999999998,"body":"the silo advisor, who set it up,"},{"speaker":"Andy Hart","startTime":2649.94,"endTime":2652.88,"body":"stays regulated for a while,"},{"speaker":"Andy Hart","startTime":2649.94,"endTime":2652.88,"body":"which is what Alan said, because"},{"speaker":"Andy Hart","startTime":2652.88,"endTime":2656.6,"body":"they're still interacting with"},{"speaker":"Andy Hart","startTime":2652.88,"endTime":2656.6,"body":"clients discussing things which"},{"speaker":"Andy Hart","startTime":2656.6,"endTime":2659.39,"body":"are regulated and technical, but"},{"speaker":"Andy Hart","startTime":2656.6,"endTime":2659.39,"body":"they're also then the chief"},{"speaker":"Andy Hart","startTime":2659.39,"endTime":2662.48,"body":"rainmakers, they're going out"},{"speaker":"Andy Hart","startTime":2659.39,"endTime":2662.48,"body":"looking for new clients and"},{"speaker":"Andy Hart","startTime":2662.48,"endTime":2665.21,"body":"just, you know, topping up the"},{"speaker":"Andy Hart","startTime":2662.48,"endTime":2665.21,"body":"funnel, and then filtering down"},{"speaker":"Andy Hart","startTime":2665.21,"endTime":2667.52,"body":"to the, to the original, sorry,"},{"speaker":"Andy Hart","startTime":2665.21,"endTime":2667.52,"body":"to the new advisors they've"},{"speaker":"Andy Hart","startTime":2667.52,"endTime":2671.7799999999997,"body":"hired. I think this is the most"},{"speaker":"Andy Hart","startTime":2667.52,"endTime":2671.7799999999997,"body":"elegant exit a solo advisor firm"},{"speaker":"Andy Hart","startTime":2671.7799999999997,"endTime":2674.6,"body":"could have, but you need to have"},{"speaker":"Andy Hart","startTime":2671.7799999999997,"endTime":2674.6,"body":"great systems and processes in"},{"speaker":"Andy Hart","startTime":2674.6,"endTime":2677.48,"body":"place, you need to have great"},{"speaker":"Andy Hart","startTime":2674.6,"endTime":2677.48,"body":"income in place. Because you're"},{"speaker":"Andy Hart","startTime":2677.48,"endTime":2680.33,"body":"going to be paying someone keep"},{"speaker":"Andy Hart","startTime":2677.48,"endTime":2680.33,"body":"it simple, a couple of 100 grand"},{"speaker":"Andy Hart","startTime":2680.33,"endTime":2685.04,"body":"to then have 50 7080 client"},{"speaker":"Andy Hart","startTime":2680.33,"endTime":2685.04,"body":"meetings a year, and they've got"},{"speaker":"Andy Hart","startTime":2685.04,"endTime":2688.2799999999997,"body":"to be happy within that role. So"},{"speaker":"Andy Hart","startTime":2685.04,"endTime":2688.2799999999997,"body":"that's something I could see"},{"speaker":"Andy Hart","startTime":2688.2799999999997,"endTime":2693.3199999999997,"body":"myself potentially doing. No"},{"speaker":"Andy Hart","startTime":2688.2799999999997,"endTime":2693.3199999999997,"body":"time soon. But there's obviously"},{"speaker":"Andy Hart","startTime":2693.3199999999997,"endTime":2698.15,"body":"various ways to slice and dice"},{"speaker":"Andy Hart","startTime":2693.3199999999997,"endTime":2698.15,"body":"this. Call you next."},{"speaker":"Unknown","startTime":2699.92,"endTime":2703.91,"body":"Yeah, look, it's it's"},{"speaker":"Unknown","startTime":2699.92,"endTime":2703.91,"body":"top very topical. For me, myself"},{"speaker":"Unknown","startTime":2703.91,"endTime":2707.42,"body":"and Alan have had lots and lots"},{"speaker":"Unknown","startTime":2703.91,"endTime":2707.42,"body":"of discussions over the last"},{"speaker":"Unknown","startTime":2707.42,"endTime":2713.66,"body":"couple of months. So matters is"},{"speaker":"Unknown","startTime":2707.42,"endTime":2713.66,"body":"10 years old, this month. And"},{"speaker":"Unknown","startTime":2713.7799999999997,"endTime":2715.94,"body":"we've just got to the size"},{"speaker":"Unknown","startTime":2713.7799999999997,"endTime":2715.94,"body":"whereby"},{"speaker":"Unknown","startTime":2721.16,"endTime":2726.44,"body":"we've, we've just so that"},{"speaker":"Unknown","startTime":2721.16,"endTime":2726.44,"body":"there's 20 on the team now, the"},{"speaker":"Unknown","startTime":2726.44,"endTime":2728.8399999999997,"body":"last couple of years have been"},{"speaker":"Unknown","startTime":2726.44,"endTime":2728.8399999999997,"body":"very good for us last year"},{"speaker":"Unknown","startTime":2728.8399999999997,"endTime":2732.83,"body":"actually was the first year I"},{"speaker":"Unknown","startTime":2728.8399999999997,"endTime":2732.83,"body":"wasn't the top fee earner in the"},{"speaker":"Unknown","startTime":2732.83,"endTime":2736.46,"body":"business, which was very, very"},{"speaker":"Unknown","startTime":2732.83,"endTime":2736.46,"body":"nice. And so I've been doing it"},{"speaker":"Unknown","startTime":2736.46,"endTime":2741.2599999999998,"body":"a little bit differently. And"},{"speaker":"Unknown","startTime":2736.46,"endTime":2741.2599999999998,"body":"I'm still not sure if I'm doing"},{"speaker":"Unknown","startTime":2741.2599999999998,"endTime":2745.8199999999997,"body":"it right. But I've been kind of"},{"speaker":"Unknown","startTime":2741.2599999999998,"endTime":2745.8199999999997,"body":"just slowly, you know, passing"},{"speaker":"Unknown","startTime":2745.8199999999997,"endTime":2749.99,"body":"some clients to other advisors,"},{"speaker":"Unknown","startTime":2745.8199999999997,"endTime":2749.99,"body":"we have, I think six other"},{"speaker":"Unknown","startTime":2749.99,"endTime":2753.41,"body":"advisors in the firm now so I"},{"speaker":"Unknown","startTime":2749.99,"endTime":2753.41,"body":"can kind of match them up with"},{"speaker":"Unknown","startTime":2753.41,"endTime":2757.85,"body":"who I think might be might be"},{"speaker":"Unknown","startTime":2753.41,"endTime":2757.85,"body":"the right person to work with"},{"speaker":"Unknown","startTime":2757.85,"endTime":2761.12,"body":"the client. Interesting. He"},{"speaker":"Unknown","startTime":2757.85,"endTime":2761.12,"body":"wouldn't one kind of client"},{"speaker":"Unknown","startTime":2761.12,"endTime":2763.43,"body":"segment that I'm really"},{"speaker":"Unknown","startTime":2761.12,"endTime":2763.43,"body":"struggling that they're going to"},{"speaker":"Unknown","startTime":2763.46,"endTime":2768.7999999999997,"body":"not not doing I want you it's"},{"speaker":"Unknown","startTime":2763.46,"endTime":2768.7999999999997,"body":"kind of the 75 year olds that"},{"speaker":"Unknown","startTime":2768.7999999999997,"endTime":2771.47,"body":"have you know, their pension"},{"speaker":"Unknown","startTime":2768.7999999999997,"endTime":2771.47,"body":"funds and awareness and they're"},{"speaker":"Unknown","startTime":2771.47,"endTime":2775.0099999999998,"body":"like, I've always met you, I'm"},{"speaker":"Unknown","startTime":2771.47,"endTime":2775.0099999999998,"body":"always gonna meet you and that's"},{"speaker":"Unknown","startTime":2775.0099999999998,"endTime":2780.68,"body":"just the end of it. So but it's"},{"speaker":"Unknown","startTime":2775.0099999999998,"endTime":2780.68,"body":"a bit of a challenge. I have"},{"speaker":"Unknown","startTime":2780.68,"endTime":2785.69,"body":"given away a lot of the clients"},{"speaker":"Unknown","startTime":2780.68,"endTime":2785.69,"body":"on an in my diary just seems to"},{"speaker":"Unknown","startTime":2785.69,"endTime":2789.5299999999997,"body":"be getting, there's just more"},{"speaker":"Unknown","startTime":2785.69,"endTime":2789.5299999999997,"body":"stuff goes back into it. And so"},{"speaker":"Unknown","startTime":2789.5299999999997,"endTime":2792.38,"body":"I'm definitely not at the stage"},{"speaker":"Unknown","startTime":2789.5299999999997,"endTime":2792.38,"body":"where there's new stuff."},{"speaker":"Unknown","startTime":2792.44,"endTime":2796.25,"body":"However, what it is allowed me"},{"speaker":"Unknown","startTime":2792.44,"endTime":2796.25,"body":"to do is do a lot of exciting"},{"speaker":"Unknown","startTime":2796.25,"endTime":2799.8199999999997,"body":"stuff that's, you know, kind of"},{"speaker":"Unknown","startTime":2796.25,"endTime":2799.8199999999997,"body":"new for us and, you know,"},{"speaker":"Unknown","startTime":2799.8199999999997,"endTime":2803.39,"body":"explore other newer"},{"speaker":"Unknown","startTime":2799.8199999999997,"endTime":2803.39,"body":"opportunities and that kind of"},{"speaker":"Unknown","startTime":2803.39,"endTime":2808.22,"body":"stuff. I do, I do, I'm a little"},{"speaker":"Unknown","startTime":2803.39,"endTime":2808.22,"body":"bit like, you know, Ireland"},{"speaker":"Unknown","startTime":2808.22,"endTime":2810.83,"body":"right now, and working out"},{"speaker":"Unknown","startTime":2808.22,"endTime":2810.83,"body":"pension calculations would be"},{"speaker":"Unknown","startTime":2810.83,"endTime":2815.75,"body":"like, I'd rather stick pins in"},{"speaker":"Unknown","startTime":2810.83,"endTime":2815.75,"body":"my eyes. But I do definitely"},{"speaker":"Unknown","startTime":2815.75,"endTime":2819.2,"body":"still get a real buzz out of"},{"speaker":"Unknown","startTime":2815.75,"endTime":2819.2,"body":"doing the client work. And"},{"speaker":"Unknown","startTime":2819.2,"endTime":2824.45,"body":"that's definitely held me back."},{"speaker":"Unknown","startTime":2819.2,"endTime":2824.45,"body":"Because I do get the goose bumps"},{"speaker":"Unknown","startTime":2824.45,"endTime":2827.2999999999997,"body":"and that kind of stuff, which I"},{"speaker":"Unknown","startTime":2824.45,"endTime":2827.2999999999997,"body":"just I just really enjoyed. But"},{"speaker":"Unknown","startTime":2827.2999999999997,"endTime":2831.23,"body":"I can see totally what you're"},{"speaker":"Unknown","startTime":2827.2999999999997,"endTime":2831.23,"body":"saying that if I don't make"},{"speaker":"Unknown","startTime":2831.3199999999997,"endTime":2836.18,"body":"changes, I will, you know, hold"},{"speaker":"Unknown","startTime":2831.3199999999997,"endTime":2836.18,"body":"the business back for absolute"},{"speaker":"Unknown","startTime":2836.18,"endTime":2838.64,"body":"sure. Now, what we did do a"},{"speaker":"Unknown","startTime":2836.18,"endTime":2838.64,"body":"couple of years ago, we've"},{"speaker":"Unknown","startTime":2838.7599999999998,"endTime":2842.75,"body":"pointed at a head of finance,"},{"speaker":"Unknown","startTime":2838.7599999999998,"endTime":2842.75,"body":"we've appointed a head of"},{"speaker":"Unknown","startTime":2842.75,"endTime":2849.56,"body":"compliance, you know, we have"},{"speaker":"Unknown","startTime":2842.75,"endTime":2849.56,"body":"that pod system working. So I've"},{"speaker":"Unknown","startTime":2849.56,"endTime":2852.5299999999997,"body":"put a lot of the steps in there."},{"speaker":"Unknown","startTime":2849.56,"endTime":2852.5299999999997,"body":"I don't think there's any"},{"speaker":"Unknown","startTime":2852.5299999999997,"endTime":2857.63,"body":"perfect way. I would also say"},{"speaker":"Unknown","startTime":2852.5299999999997,"endTime":2857.63,"body":"that this is something that when"},{"speaker":"Unknown","startTime":2857.63,"endTime":2861.2,"body":"the business gets to a certain"},{"speaker":"Unknown","startTime":2857.63,"endTime":2861.2,"body":"level of maturity, you got to"},{"speaker":"Unknown","startTime":2861.23,"endTime":2864.17,"body":"maybe do it by degrees, I don't"},{"speaker":"Unknown","startTime":2861.23,"endTime":2864.17,"body":"think there's a moment that you"},{"speaker":"Unknown","startTime":2864.17,"endTime":2867.35,"body":"can go right on the first"},{"speaker":"Unknown","startTime":2864.17,"endTime":2867.35,"body":"January, whatever year I'm just,"},{"speaker":"Unknown","startTime":2867.38,"endTime":2870.5,"body":"we're changing everything. I"},{"speaker":"Unknown","startTime":2867.38,"endTime":2870.5,"body":"think it's you know, so I have"},{"speaker":"Unknown","startTime":2870.5,"endTime":2875.45,"body":"been thinking about this for the"},{"speaker":"Unknown","startTime":2870.5,"endTime":2875.45,"body":"last couple of years. And it's"},{"speaker":"Unknown","startTime":2875.48,"endTime":2878.63,"body":"it's working to an extent, but"},{"speaker":"Unknown","startTime":2875.48,"endTime":2878.63,"body":"then there are a little bit like"},{"speaker":"Unknown","startTime":2878.63,"endTime":2881.27,"body":"everything you introduce, I"},{"speaker":"Unknown","startTime":2878.63,"endTime":2881.27,"body":"guess there's stuff that's"},{"speaker":"Unknown","startTime":2881.27,"endTime":2884.99,"body":"definitely not working, and I"},{"speaker":"Unknown","startTime":2881.27,"endTime":2884.99,"body":"need to change it. But like the"},{"speaker":"Unknown","startTime":2884.99,"endTime":2888.44,"body":"guy who would have spoken to you"},{"speaker":"Unknown","startTime":2884.99,"endTime":2888.44,"body":"guys, I definitely limped to the"},{"speaker":"Unknown","startTime":2888.44,"endTime":2893.5699999999997,"body":"finish line at the end of last"},{"speaker":"Unknown","startTime":2888.44,"endTime":2893.5699999999997,"body":"year. And it made me go I have"},{"speaker":"Unknown","startTime":2893.5699999999997,"endTime":2896.9,"body":"to be way more disciplined about"},{"speaker":"Unknown","startTime":2893.5699999999997,"endTime":2896.9,"body":"this. Because as you say, Alan,"},{"speaker":"Unknown","startTime":2897.08,"endTime":2902.48,"body":"I was coming into every meeting,"},{"speaker":"Unknown","startTime":2897.08,"endTime":2902.48,"body":"you know, half prepared. How's"},{"speaker":"Unknown","startTime":2902.48,"endTime":2909.98,"body":"your? Yeah, my weekend was"},{"speaker":"Unknown","startTime":2902.48,"endTime":2909.98,"body":"really good. But yeah, so it's"},{"speaker":"Unknown","startTime":2909.98,"endTime":2913.58,"body":"something that, you know, you"},{"speaker":"Unknown","startTime":2909.98,"endTime":2913.58,"body":"got to focus in on what's best"},{"speaker":"Unknown","startTime":2913.58,"endTime":2917.5699999999997,"body":"for the business, and to keep"},{"speaker":"Unknown","startTime":2913.58,"endTime":2917.5699999999997,"body":"taking steps back what's best"},{"speaker":"Unknown","startTime":2917.5699999999997,"endTime":2921.77,"body":"for the business, what's best"},{"speaker":"Unknown","startTime":2917.5699999999997,"endTime":2921.77,"body":"for the business? So yeah, it's,"},{"speaker":"Unknown","startTime":2922.31,"endTime":2926.2999999999997,"body":"it's, look, they're kind of nice"},{"speaker":"Unknown","startTime":2922.31,"endTime":2926.2999999999997,"body":"problems to have. Because if you"},{"speaker":"Unknown","startTime":2926.2999999999997,"endTime":2929.0,"body":"weren't growing and things"},{"speaker":"Unknown","startTime":2926.2999999999997,"endTime":2929.0,"body":"weren't going going reasonably"},{"speaker":"Unknown","startTime":2929.0,"endTime":2933.1099999999997,"body":"well, you wouldn't obviously be"},{"speaker":"Unknown","startTime":2929.0,"endTime":2933.1099999999997,"body":"having these discussions. And we"},{"speaker":"Unknown","startTime":2933.1099999999997,"endTime":2935.63,"body":"have grown in the last couple of"},{"speaker":"Unknown","startTime":2933.1099999999997,"endTime":2935.63,"body":"years. But that's as a result"},{"speaker":"Unknown","startTime":2935.63,"endTime":2941.48,"body":"of, you know, really good people"},{"speaker":"Unknown","startTime":2935.63,"endTime":2941.48,"body":"at matters, seizing opportunity,"},{"speaker":"Unknown","startTime":2941.48,"endTime":2945.74,"body":"and a couple of really key good"},{"speaker":"Unknown","startTime":2941.48,"endTime":2945.74,"body":"hires as well. And I have to be"},{"speaker":"Unknown","startTime":2945.74,"endTime":2949.4,"body":"honest, right? I don't have any,"},{"speaker":"Unknown","startTime":2945.74,"endTime":2949.4,"body":"maybe I should, in fact,"},{"speaker":"Unknown","startTime":2949.64,"endTime":2953.15,"body":"listening to you today, right? I"},{"speaker":"Unknown","startTime":2949.64,"endTime":2953.15,"body":"definitely should. I have no"},{"speaker":"Unknown","startTime":2953.15,"endTime":2955.4,"body":"concerns whatsoever about"},{"speaker":"Unknown","startTime":2953.15,"endTime":2955.4,"body":"someone leaving matters and"},{"speaker":"Unknown","startTime":2955.4,"endTime":2960.41,"body":"taking a bunch of lines. I mean,"},{"speaker":"Unknown","startTime":2955.4,"endTime":2960.41,"body":"maybe that's too much confidence"},{"speaker":"Unknown","startTime":2960.41,"endTime":2963.38,"body":"in the fact that we have the"},{"speaker":"Unknown","startTime":2960.41,"endTime":2963.38,"body":"Metis proposition and people are"},{"speaker":"Unknown","startTime":2963.38,"endTime":2965.12,"body":"doing business happen."},{"speaker":"Nick Lincoln","startTime":2965.15,"endTime":2967.49,"body":"If it does happen,"},{"speaker":"Nick Lincoln","startTime":2965.15,"endTime":2967.49,"body":"you can ride it out. You just"},{"speaker":"Nick Lincoln","startTime":2967.49,"endTime":2968.54,"body":"don't think it'll happen? I"},{"speaker":"Unknown","startTime":2968.54,"endTime":2973.22,"body":"have no concern that it"},{"speaker":"Unknown","startTime":2968.54,"endTime":2973.22,"body":"will happen. Right? So and, and"},{"speaker":"Unknown","startTime":2973.2799999999997,"endTime":2977.15,"body":"that's probably no total"},{"speaker":"Unknown","startTime":2973.2799999999997,"endTime":2977.15,"body":"misconception from my point of"},{"speaker":"Unknown","startTime":2977.15,"endTime":2977.27,"body":"view."},{"speaker":"Nick Lincoln","startTime":2978.74,"endTime":2980.12,"body":"About key and"},{"speaker":"Nick Lincoln","startTime":2978.74,"endTime":2980.12,"body":"Yeah."},{"speaker":"Unknown","startTime":2982.4,"endTime":2987.41,"body":"But, but yeah, it's my"},{"speaker":"Unknown","startTime":2982.4,"endTime":2987.41,"body":"look, or my overall thing is"},{"speaker":"Unknown","startTime":2987.41,"endTime":2991.94,"body":"that this can't be a bang moment"},{"speaker":"Unknown","startTime":2987.41,"endTime":2991.94,"body":"in time, John, I would say"},{"speaker":"Unknown","startTime":2992.21,"endTime":2995.39,"body":"there's so many moving parts,"},{"speaker":"Unknown","startTime":2992.21,"endTime":2995.39,"body":"like every time myself and"},{"speaker":"Unknown","startTime":2995.39,"endTime":2999.2,"body":"Ireland. I go Alan, what did you"},{"speaker":"Unknown","startTime":2995.39,"endTime":2999.2,"body":"do when AlphaGo did this this"},{"speaker":"Unknown","startTime":2999.2,"endTime":3002.2599999999998,"body":"isn't it? And it's like, okay,"},{"speaker":"Unknown","startTime":2999.2,"endTime":3002.2599999999998,"body":"I'll fix that one. And then I'd"},{"speaker":"Unknown","startTime":3002.2599999999998,"endTime":3004.93,"body":"be like an add on what did you"},{"speaker":"Unknown","startTime":3002.2599999999998,"endTime":3004.93,"body":"do them when there's because"},{"speaker":"Unknown","startTime":3004.96,"endTime":3007.15,"body":"there are knock on effects all"},{"speaker":"Unknown","startTime":3004.96,"endTime":3007.15,"body":"the time. So"},{"speaker":"Andy Hart","startTime":3007.3599999999997,"endTime":3011.29,"body":"as far as fighting"},{"speaker":"Andy Hart","startTime":3007.3599999999997,"endTime":3011.29,"body":"fires, are our maybe"},{"speaker":"Unknown","startTime":3011.29,"endTime":3013.75,"body":"handyman a little bit"},{"speaker":"Unknown","startTime":3011.29,"endTime":3013.75,"body":"different than fighting fires?"},{"speaker":"Unknown","startTime":3013.75,"endTime":3019.45,"body":"Maybe Maybe it's tweaking stuff"},{"speaker":"Unknown","startTime":3013.75,"endTime":3019.45,"body":"are, you know, so they're not"},{"speaker":"Unknown","startTime":3019.48,"endTime":3023.92,"body":"big problems being caused, but"},{"speaker":"Unknown","startTime":3019.48,"endTime":3023.92,"body":"like, organizing the structure"},{"speaker":"Unknown","startTime":3023.92,"endTime":3027.0099999999998,"body":"of the business and at the"},{"speaker":"Unknown","startTime":3023.92,"endTime":3027.0099999999998,"body":"moment, I'm that's my big thing"},{"speaker":"Unknown","startTime":3027.0099999999998,"endTime":3030.91,"body":"for last week and this week,"},{"speaker":"Unknown","startTime":3027.0099999999998,"endTime":3030.91,"body":"there's, I'm not sure I've got I"},{"speaker":"Unknown","startTime":3030.91,"endTime":3034.27,"body":"know, we don't need more people,"},{"speaker":"Unknown","startTime":3030.91,"endTime":3034.27,"body":"but I'm not sure I have the"},{"speaker":"Unknown","startTime":3034.27,"endTime":3038.56,"body":"right people in the right seat"},{"speaker":"Unknown","startTime":3034.27,"endTime":3038.56,"body":"on the bus. So I'm, I'm talking"},{"speaker":"Unknown","startTime":3038.5899999999997,"endTime":3041.98,"body":"a lot about that at the moment"},{"speaker":"Unknown","startTime":3038.5899999999997,"endTime":3041.98,"body":"and maybe looking at maybe kind"},{"speaker":"Unknown","startTime":3041.98,"endTime":3045.52,"body":"of reorganizing justice. They're"},{"speaker":"Unknown","startTime":3041.98,"endTime":3045.52,"body":"only little tweaks, you know,"},{"speaker":"Unknown","startTime":3045.52,"endTime":3048.67,"body":"not big things, but making sure"},{"speaker":"Unknown","startTime":3045.52,"endTime":3048.67,"body":"that we have we have the right"},{"speaker":"Unknown","startTime":3048.67,"endTime":3052.33,"body":"people doing the right job. It's"},{"speaker":"Unknown","startTime":3048.67,"endTime":3052.33,"body":"very interesting. And it's a"},{"speaker":"Unknown","startTime":3052.33,"endTime":3055.75,"body":"challenge. It's there's no doubt"},{"speaker":"Unknown","startTime":3052.33,"endTime":3055.75,"body":"it's a challenge. And there's no"},{"speaker":"Unknown","startTime":3055.75,"endTime":3060.04,"body":"doubt you could get it off your"},{"speaker":"Unknown","startTime":3055.75,"endTime":3060.04,"body":"arm too. Right. So that's, it's"},{"speaker":"Unknown","startTime":3060.0699999999997,"endTime":3063.58,"body":"it's very, very, very important"},{"speaker":"Unknown","startTime":3060.0699999999997,"endTime":3063.58,"body":"to do it and do it properly."},{"speaker":"Unknown","startTime":3064.06,"endTime":3065.02,"body":"will be my view."},{"speaker":"Andy Hart","startTime":3066.37,"endTime":3067.81,"body":"Over to your finger,"},{"speaker":"Nick Lincoln","startTime":3067.81,"endTime":3069.19,"body":"right? Yeah, I"},{"speaker":"Alan Smith","startTime":3069.19,"endTime":3071.41,"body":"did. But you want to"},{"speaker":"Alan Smith","startTime":3069.19,"endTime":3071.41,"body":"come in Nick, or have you said"},{"speaker":"Alan Smith","startTime":3071.41,"endTime":3073.5099999999998,"body":"your bit or do you want to wrap"},{"speaker":"Nick Lincoln","startTime":3073.5099999999998,"endTime":3076.24,"body":"this up? So you've"},{"speaker":"Nick Lincoln","startTime":3073.5099999999998,"endTime":3076.24,"body":"got any comment on that All"},{"speaker":"Alan Smith","startTime":3078.3399999999997,"endTime":3081.04,"body":"right couple of"},{"speaker":"Alan Smith","startTime":3078.3399999999997,"endTime":3081.04,"body":"things just to share a couple of"},{"speaker":"Alan Smith","startTime":3081.04,"endTime":3085.96,"body":"experiences. So this was done"},{"speaker":"Alan Smith","startTime":3081.04,"endTime":3085.96,"body":"literally, maybe not 10 years"},{"speaker":"Alan Smith","startTime":3085.96,"endTime":3089.0499999999997,"body":"ago, eight years ago. Anyway,"},{"speaker":"Alan Smith","startTime":3085.96,"endTime":3089.0499999999997,"body":"when we started to this nope, it"},{"speaker":"Alan Smith","startTime":3089.08,"endTime":3092.44,"body":"probably was 10 years ago,"},{"speaker":"Alan Smith","startTime":3089.08,"endTime":3092.44,"body":"actually. And they are to get to"},{"speaker":"Alan Smith","startTime":3092.44,"endTime":3095.35,"body":"your point, Carl, there's some"},{"speaker":"Alan Smith","startTime":3092.44,"endTime":3095.35,"body":"clients who say, no, no, I"},{"speaker":"Alan Smith","startTime":3095.35,"endTime":3097.8399999999997,"body":"signed up because of you that"},{"speaker":"Alan Smith","startTime":3095.35,"endTime":3097.8399999999997,"body":"said, there are clients that I"},{"speaker":"Alan Smith","startTime":3097.8399999999997,"endTime":3102.94,"body":"still go to every meeting to"},{"speaker":"Alan Smith","startTime":3097.8399999999997,"endTime":3102.94,"body":"this day. And there are clients"},{"speaker":"Alan Smith","startTime":3102.94,"endTime":3108.16,"body":"that I never saw again, there"},{"speaker":"Alan Smith","startTime":3102.94,"endTime":3108.16,"body":"was quick anecdote. So I did it"},{"speaker":"Alan Smith","startTime":3108.16,"endTime":3110.38,"body":"on the basis because all about"},{"speaker":"Alan Smith","startTime":3108.16,"endTime":3110.38,"body":"words and language and"},{"speaker":"Alan Smith","startTime":3110.38,"endTime":3113.02,"body":"positioning, it's not like I'm"},{"speaker":"Alan Smith","startTime":3110.38,"endTime":3113.02,"body":"out of here. See you later is"},{"speaker":"Alan Smith","startTime":3113.0499999999997,"endTime":3116.2599999999998,"body":"good news is, there's a team of"},{"speaker":"Alan Smith","startTime":3113.0499999999997,"endTime":3116.2599999999998,"body":"people here as well, that"},{"speaker":"Alan Smith","startTime":3116.2599999999998,"endTime":3118.0899999999997,"body":"unfortunately, I've never been"},{"speaker":"Alan Smith","startTime":3116.2599999999998,"endTime":3118.0899999999997,"body":"exposed to, and they are"},{"speaker":"Alan Smith","startTime":3118.0899999999997,"endTime":3121.42,"body":"outstanding, and in some ways"},{"speaker":"Alan Smith","startTime":3118.0899999999997,"endTime":3121.42,"body":"better than me. And you know,"},{"speaker":"Alan Smith","startTime":3121.42,"endTime":3124.18,"body":"you do, of course, and actually,"},{"speaker":"Alan Smith","startTime":3121.42,"endTime":3124.18,"body":"that's, it was, it was very easy"},{"speaker":"Alan Smith","startTime":3124.18,"endTime":3128.89,"body":"for me to say that because they"},{"speaker":"Alan Smith","startTime":3124.18,"endTime":3128.89,"body":"were. But the good news is Mr."},{"speaker":"Alan Smith","startTime":3128.89,"endTime":3131.92,"body":"Mrs. Client, of course, I'm here"},{"speaker":"Alan Smith","startTime":3128.89,"endTime":3131.92,"body":"and I will show up and you kind"},{"speaker":"Alan Smith","startTime":3131.92,"endTime":3136.18,"body":"of attend the first meeting, but"},{"speaker":"Alan Smith","startTime":3131.92,"endTime":3136.18,"body":"you kind of quietly moonwalk out"},{"speaker":"Alan Smith","startTime":3136.18,"endTime":3139.96,"body":"the door, you know, you don't"},{"speaker":"Alan Smith","startTime":3136.18,"endTime":3139.96,"body":"come to the and I've said to you"},{"speaker":"Alan Smith","startTime":3139.96,"endTime":3142.48,"body":"one, I'll go to all the"},{"speaker":"Alan Smith","startTime":3139.96,"endTime":3142.48,"body":"meetings, but I'll go alongside"},{"speaker":"Alan Smith","startTime":3142.5099999999998,"endTime":3144.85,"body":"someone else and they will lead"},{"speaker":"Alan Smith","startTime":3142.5099999999998,"endTime":3144.85,"body":"the meeting. I'll top and tail"},{"speaker":"Alan Smith","startTime":3144.85,"endTime":3147.67,"body":"it. And then he kind of, and"},{"speaker":"Alan Smith","startTime":3144.85,"endTime":3147.67,"body":"then for some clients, I was"},{"speaker":"Alan Smith","startTime":3147.67,"endTime":3150.94,"body":"doing, you know, year two"},{"speaker":"Alan Smith","startTime":3147.67,"endTime":3150.94,"body":"meeting, and I sat in a meeting"},{"speaker":"Alan Smith","startTime":3150.97,"endTime":3154.54,"body":"in you to remember this. This"},{"speaker":"Alan Smith","startTime":3150.97,"endTime":3154.54,"body":"client, John was alongside"},{"speaker":"Alan Smith","startTime":3154.54,"endTime":3158.2599999999998,"body":"Charles. And he said, and John"},{"speaker":"Alan Smith","startTime":3154.54,"endTime":3158.2599999999998,"body":"says, Alan, what are you doing"},{"speaker":"Alan Smith","startTime":3158.2599999999998,"endTime":3161.1099999999997,"body":"here? I said, Well, I thought"},{"speaker":"Alan Smith","startTime":3158.2599999999998,"endTime":3161.1099999999997,"body":"also, I'll be here just because"},{"speaker":"Alan Smith","startTime":3161.1099999999997,"endTime":3164.98,"body":"No, no, no, Charles is good. See"},{"speaker":"Alan Smith","startTime":3161.1099999999997,"endTime":3164.98,"body":"you later, or you go out you go."},{"speaker":"Alan Smith","startTime":3165.52,"endTime":3168.85,"body":"Bloody hell, that was nice after"},{"speaker":"Alan Smith","startTime":3165.52,"endTime":3168.85,"body":"looking out for you. But at"},{"speaker":"Alan Smith","startTime":3168.85,"endTime":3172.45,"body":"least it showed that the"},{"speaker":"Alan Smith","startTime":3168.85,"endTime":3172.45,"body":"transfer work successfully was"},{"speaker":"Alan Smith","startTime":3172.45,"endTime":3175.5099999999998,"body":"more than happy to deal with"},{"speaker":"Alan Smith","startTime":3172.45,"endTime":3175.5099999999998,"body":"Charles in that case. And I did"},{"speaker":"Alan Smith","startTime":3175.63,"endTime":3178.9,"body":"didn't need to appear anymore."},{"speaker":"Alan Smith","startTime":3175.63,"endTime":3178.9,"body":"But of course, it's a gradual"},{"speaker":"Alan Smith","startTime":3178.9,"endTime":3182.02,"body":"transition. And for those who"},{"speaker":"Alan Smith","startTime":3178.9,"endTime":3182.02,"body":"say, Look, if you're not in the"},{"speaker":"Alan Smith","startTime":3182.02,"endTime":3184.93,"body":"room, then I'm nobody having you"},{"speaker":"Alan Smith","startTime":3182.02,"endTime":3184.93,"body":"as a client as a client, I'm not"},{"speaker":"Alan Smith","startTime":3184.93,"endTime":3187.0899999999997,"body":"going to be a client anymore,"},{"speaker":"Alan Smith","startTime":3184.93,"endTime":3187.0899999999997,"body":"then you manage that and you"},{"speaker":"Alan Smith","startTime":3187.0899999999997,"endTime":3189.3399999999997,"body":"navigate it. And I think what"},{"speaker":"Alan Smith","startTime":3187.0899999999997,"endTime":3189.3399999999997,"body":"you'll find people don't want."},{"speaker":"Alan Smith","startTime":3189.94,"endTime":3192.1,"body":"That's like a shock to them."},{"speaker":"Alan Smith","startTime":3189.94,"endTime":3192.1,"body":"They've known you and you know,"},{"speaker":"Alan Smith","startTime":3192.1,"endTime":3194.08,"body":"they kind of inside leg"},{"speaker":"Alan Smith","startTime":3192.1,"endTime":3194.08,"body":"measurement, because you've been"},{"speaker":"Alan Smith","startTime":3194.08,"endTime":3196.93,"body":"working with them so long. So"},{"speaker":"Alan Smith","startTime":3194.08,"endTime":3196.93,"body":"you do call meetings. And then"},{"speaker":"Alan Smith","startTime":3196.93,"endTime":3200.2,"body":"one meeting, as I was to always"},{"speaker":"Alan Smith","startTime":3196.93,"endTime":3200.2,"body":"say, What happens if, if you got"},{"speaker":"Alan Smith","startTime":3200.2,"endTime":3202.33,"body":"hit by the proverbial bus,"},{"speaker":"Alan Smith","startTime":3200.2,"endTime":3202.33,"body":"they'd have to see somebody?"},{"speaker":"Alan Smith","startTime":3202.33,"endTime":3204.79,"body":"What if you got sick? What if"},{"speaker":"Alan Smith","startTime":3202.33,"endTime":3204.79,"body":"you just weren't able to get"},{"speaker":"Alan Smith","startTime":3204.79,"endTime":3207.7,"body":"there that day, they'd have to"},{"speaker":"Alan Smith","startTime":3204.79,"endTime":3207.7,"body":"see somebody. So it's actually"},{"speaker":"Alan Smith","startTime":3207.7,"endTime":3211.5099999999998,"body":"future proofing for them to have"},{"speaker":"Alan Smith","startTime":3207.7,"endTime":3211.5099999999998,"body":"more people that know them, it's"},{"speaker":"Alan Smith","startTime":3211.54,"endTime":3214.45,"body":"absolutely in their interest."},{"speaker":"Alan Smith","startTime":3211.54,"endTime":3214.45,"body":"And if they ever want to speak"},{"speaker":"Alan Smith","startTime":3214.45,"endTime":3216.5499999999997,"body":"to you, you're there, you'll"},{"speaker":"Alan Smith","startTime":3214.45,"endTime":3216.5499999999997,"body":"attend any meeting they want."},{"speaker":"Alan Smith","startTime":3216.5499999999997,"endTime":3218.92,"body":"They're getting phone call they"},{"speaker":"Alan Smith","startTime":3216.5499999999997,"endTime":3218.92,"body":"want. But you'll find over time"},{"speaker":"Alan Smith","startTime":3218.95,"endTime":3222.64,"body":"that the that they don't. But"},{"speaker":"Alan Smith","startTime":3218.95,"endTime":3222.64,"body":"what you do need to do is work"},{"speaker":"Alan Smith","startTime":3222.64,"endTime":3224.7999999999997,"body":"out what the hell you are going"},{"speaker":"Alan Smith","startTime":3222.64,"endTime":3224.7999999999997,"body":"to do. Because that's the easy,"},{"speaker":"Alan Smith","startTime":3224.8599999999997,"endTime":3227.1099999999997,"body":"easy thing, sort of stepping out"},{"speaker":"Alan Smith","startTime":3224.8599999999997,"endTime":3227.1099999999997,"body":"the client meeting and say right"},{"speaker":"Alan Smith","startTime":3227.1099999999997,"endTime":3229.39,"body":"now I've got theoretically a lot"},{"speaker":"Alan Smith","startTime":3227.1099999999997,"endTime":3229.39,"body":"of time on my hands, what the"},{"speaker":"Alan Smith","startTime":3229.39,"endTime":3234.49,"body":"hell should I do? And just"},{"speaker":"Alan Smith","startTime":3229.39,"endTime":3234.49,"body":"responding to your point, their"},{"speaker":"Alan Smith","startTime":3234.52,"endTime":3237.52,"body":"call? I think we've talked about"},{"speaker":"Alan Smith","startTime":3234.52,"endTime":3237.52,"body":"it before, if we hadn't, we"},{"speaker":"Alan Smith","startTime":3237.52,"endTime":3240.37,"body":"should have done but if you ever"},{"speaker":"Alan Smith","startTime":3237.52,"endTime":3240.37,"body":"read the book traction, Gino"},{"speaker":"Alan Smith","startTime":3240.37,"endTime":3243.97,"body":"Whitman tracks, yes. Yeah. And I"},{"speaker":"Alan Smith","startTime":3240.37,"endTime":3243.97,"body":"read it years ago. And I'm kind"},{"speaker":"Alan Smith","startTime":3243.97,"endTime":3246.79,"body":"of rereading it again, or some"},{"speaker":"Alan Smith","startTime":3243.97,"endTime":3246.79,"body":"of the spin off books that come"},{"speaker":"Alan Smith","startTime":3246.79,"endTime":3248.74,"body":"from it. Because of course,"},{"speaker":"Alan Smith","startTime":3246.79,"endTime":3248.74,"body":"within traction, they've got the"},{"speaker":"Alan Smith","startTime":3248.74,"endTime":3251.56,"body":"concept, traction applies to any"},{"speaker":"Alan Smith","startTime":3248.74,"endTime":3251.56,"body":"small business. Bottom line is"},{"speaker":"Alan Smith","startTime":3251.56,"endTime":3254.68,"body":"not financial planning book is"},{"speaker":"Alan Smith","startTime":3251.56,"endTime":3254.68,"body":"any sort of non heat, you know,"},{"speaker":"Alan Smith","startTime":3254.68,"endTime":3257.8599999999997,"body":"huge institution, institution,"},{"speaker":"Alan Smith","startTime":3254.68,"endTime":3257.8599999999997,"body":"small business handbook, I would"},{"speaker":"Alan Smith","startTime":3257.8599999999997,"endTime":3261.1,"body":"say they talk about the"},{"speaker":"Alan Smith","startTime":3257.8599999999997,"endTime":3261.1,"body":"visionary and the integrator. So"},{"speaker":"Alan Smith","startTime":3261.1,"endTime":3263.56,"body":"I think you step into the role"},{"speaker":"Alan Smith","startTime":3261.1,"endTime":3263.56,"body":"as being the visionary. And"},{"speaker":"Alan Smith","startTime":3263.56,"endTime":3266.02,"body":"there's lots of other things you"},{"speaker":"Alan Smith","startTime":3263.56,"endTime":3266.02,"body":"think more macro than micro,"},{"speaker":"Alan Smith","startTime":3266.0499999999997,"endTime":3268.3599999999997,"body":"you're thinking about what's the"},{"speaker":"Alan Smith","startTime":3266.0499999999997,"endTime":3268.3599999999997,"body":"direction of travel for the"},{"speaker":"Alan Smith","startTime":3268.3599999999997,"endTime":3272.5899999999997,"body":"industry? How do we position"},{"speaker":"Alan Smith","startTime":3268.3599999999997,"endTime":3272.5899999999997,"body":"ourselves? How do we, what"},{"speaker":"Alan Smith","startTime":3272.5899999999997,"endTime":3274.8399999999997,"body":"strategy are going to be we're"},{"speaker":"Alan Smith","startTime":3272.5899999999997,"endTime":3274.8399999999997,"body":"going to deploy over the next"},{"speaker":"Alan Smith","startTime":3274.8399999999997,"endTime":3277.8399999999997,"body":"three to five years in order to,"},{"speaker":"Alan Smith","startTime":3274.8399999999997,"endTime":3277.8399999999997,"body":"you know, capture our potential"},{"speaker":"Alan Smith","startTime":3277.8399999999997,"endTime":3281.62,"body":"as a business, you embrace, you"},{"speaker":"Alan Smith","startTime":3277.8399999999997,"endTime":3281.62,"body":"know, you are the flag carrier"},{"speaker":"Alan Smith","startTime":3281.62,"endTime":3284.35,"body":"for the culture in the business,"},{"speaker":"Alan Smith","startTime":3281.62,"endTime":3284.35,"body":"and you are consistently"},{"speaker":"Alan Smith","startTime":3284.38,"endTime":3286.81,"body":"speaking with people about it,"},{"speaker":"Alan Smith","startTime":3284.38,"endTime":3286.81,"body":"and reminding and what and as"},{"speaker":"Alan Smith","startTime":3286.81,"endTime":3289.39,"body":"you're hiring people, and all"},{"speaker":"Alan Smith","startTime":3286.81,"endTime":3289.39,"body":"those things, and of course you"},{"speaker":"Alan Smith","startTime":3289.39,"endTime":3292.39,"body":"are you are the rocket fuel."},{"speaker":"Alan Smith","startTime":3289.39,"endTime":3292.39,"body":"You're the rocket fuel behind"},{"speaker":"Alan Smith","startTime":3292.42,"endTime":3295.24,"body":"the growth of the business,"},{"speaker":"Alan Smith","startTime":3292.42,"endTime":3295.24,"body":"whether you're physically doing"},{"speaker":"Alan Smith","startTime":3295.24,"endTime":3298.15,"body":"things or other things, but just"},{"speaker":"Alan Smith","startTime":3295.24,"endTime":3298.15,"body":"identifying what it is you're"},{"speaker":"Alan Smith","startTime":3298.15,"endTime":3301.99,"body":"going to do to capture the most"},{"speaker":"Alan Smith","startTime":3298.15,"endTime":3301.99,"body":"of you're now freely available"},{"speaker":"Alan Smith","startTime":3301.99,"endTime":3305.62,"body":"time. Whilst you're not you're"},{"speaker":"Alan Smith","startTime":3301.99,"endTime":3305.62,"body":"no longer on the tools. So I"},{"speaker":"Alan Smith","startTime":3305.62,"endTime":3308.71,"body":"think it's it's a natural step"},{"speaker":"Alan Smith","startTime":3305.62,"endTime":3308.71,"body":"for most businesses to go"},{"speaker":"Alan Smith","startTime":3308.71,"endTime":3311.3199999999997,"body":"through. Interestingly, Carl,"},{"speaker":"Alan Smith","startTime":3308.71,"endTime":3311.3199999999997,"body":"you're not it's coming on your"},{"speaker":"Alan Smith","startTime":3311.3199999999997,"endTime":3314.2599999999998,"body":"agenda random at exactly the"},{"speaker":"Alan Smith","startTime":3311.3199999999997,"endTime":3314.2599999999998,"body":"same time as it came on my"},{"speaker":"Alan Smith","startTime":3314.2599999999998,"endTime":3317.47,"body":"agenda, which was about 10 years"},{"speaker":"Alan Smith","startTime":3314.2599999999998,"endTime":3317.47,"body":"in the business. So maybe, maybe"},{"speaker":"Alan Smith","startTime":3317.47,"endTime":3320.5299999999997,"body":"that's a thing of anyone who's a"},{"speaker":"Alan Smith","startTime":3317.47,"endTime":3320.5299999999997,"body":"decade into business."},{"speaker":"Unknown","startTime":3320.7999999999997,"endTime":3323.41,"body":"Yeah, it's, it's also"},{"speaker":"Unknown","startTime":3320.7999999999997,"endTime":3323.41,"body":"pretty exciting, right? Because"},{"speaker":"Unknown","startTime":3323.41,"endTime":3325.9,"body":"it's like you have shirts"},{"speaker":"Unknown","startTime":3323.41,"endTime":3325.9,"body":"working here. This is all going"},{"speaker":"Unknown","startTime":3325.9,"endTime":3329.35,"body":"well, so we but we definitely"},{"speaker":"Unknown","startTime":3325.9,"endTime":3329.35,"body":"need to make changes like you"},{"speaker":"Unknown","startTime":3329.35,"endTime":3333.0099999999998,"body":"know, because otherwise, we're"},{"speaker":"Unknown","startTime":3329.35,"endTime":3333.0099999999998,"body":"just going to kind of get stuck"},{"speaker":"Unknown","startTime":3333.04,"endTime":3337.18,"body":"in you know, as you say flatline"},{"speaker":"Unknown","startTime":3333.04,"endTime":3337.18,"body":"a small bit or are worse"},{"speaker":"Unknown","startTime":3337.18,"endTime":3341.1099999999997,"body":"potentially. So sort of there"},{"speaker":"Unknown","startTime":3337.18,"endTime":3341.1099999999997,"body":"they are who probably as our"},{"speaker":"Unknown","startTime":3341.1099999999997,"endTime":3343.8399999999997,"body":"neck smiling there when you were"},{"speaker":"Unknown","startTime":3341.1099999999997,"endTime":3343.8399999999997,"body":"saying you are the flagbearer"},{"speaker":"Unknown","startTime":3343.8399999999997,"endTime":3347.5299999999997,"body":"for the culture of the"},{"speaker":"Unknown","startTime":3343.8399999999997,"endTime":3347.5299999999997,"body":"organization. It was only one"},{"speaker":"Unknown","startTime":3347.5299999999997,"endTime":3350.17,"body":"weekend Nick Ryan okay, just let"},{"speaker":"Unknown","startTime":3347.5299999999997,"endTime":3350.17,"body":"it go."},{"speaker":"Nick Lincoln","startTime":3352.45,"endTime":3355.0299999999997,"body":"Not my friend."},{"speaker":"Nick Lincoln","startTime":3352.45,"endTime":3355.0299999999997,"body":"Management speak for Nick."},{"speaker":"Alan Smith","startTime":3356.5299999999997,"endTime":3359.5899999999997,"body":"But the culture is"},{"speaker":"Alan Smith","startTime":3356.5299999999997,"endTime":3359.5899999999997,"body":"enjoying yourself embracing work"},{"speaker":"Alan Smith","startTime":3359.5899999999997,"endTime":3362.35,"body":"life and all that stuff. You"},{"speaker":"Alan Smith","startTime":3359.5899999999997,"endTime":3362.35,"body":"enjoyed your weekend right? So"},{"speaker":"Alan Smith","startTime":3362.62,"endTime":3365.56,"body":"you're like Eric flag carrier"},{"speaker":"Alan Smith","startTime":3362.62,"endTime":3365.56,"body":"that necessary"},{"speaker":"Andy Hart","startTime":3366.1,"endTime":3367.87,"body":"comes to that. Yeah,"},{"speaker":"Andy Hart","startTime":3366.1,"endTime":3367.87,"body":"that's very"},{"speaker":"Unknown","startTime":3367.87,"endTime":3368.98,"body":"true. Very true."},{"speaker":"Nick Lincoln","startTime":3369.04,"endTime":3370.63,"body":"It was the point"},{"speaker":"Nick Lincoln","startTime":3369.04,"endTime":3370.63,"body":"the car was saying how he was"},{"speaker":"Nick Lincoln","startTime":3370.63,"endTime":3373.63,"body":"gonna burnt out the end of last"},{"speaker":"Nick Lincoln","startTime":3370.63,"endTime":3373.63,"body":"year and he said, I'm, you know,"},{"speaker":"Nick Lincoln","startTime":3373.63,"endTime":3376.0899999999997,"body":"I'm gonna I'm changing the way I"},{"speaker":"Nick Lincoln","startTime":3373.63,"endTime":3376.0899999999997,"body":"do things and do these things."},{"speaker":"Nick Lincoln","startTime":3376.12,"endTime":3382.48,"body":"All right, shall I shall I come"},{"speaker":"Nick Lincoln","startTime":3376.12,"endTime":3382.48,"body":"in on this on this idea of sort"},{"speaker":"Nick Lincoln","startTime":3382.48,"endTime":3387.25,"body":"of I'm a one man band so I"},{"speaker":"Nick Lincoln","startTime":3382.48,"endTime":3387.25,"body":"cannot find myself really"},{"speaker":"Nick Lincoln","startTime":3387.25,"endTime":3389.44,"body":"interesting with Andy's point"},{"speaker":"Nick Lincoln","startTime":3387.25,"endTime":3389.44,"body":"now I haven't hadn't considered"},{"speaker":"Nick Lincoln","startTime":3389.44,"endTime":3392.71,"body":"that you know, maybe you bring"},{"speaker":"Nick Lincoln","startTime":3389.44,"endTime":3392.71,"body":"somebody on who who takes over"},{"speaker":"Nick Lincoln","startTime":3392.71,"endTime":3396.49,"body":"your your, your advisors and you"},{"speaker":"Nick Lincoln","startTime":3392.71,"endTime":3396.49,"body":"gradually exited the business I"},{"speaker":"Nick Lincoln","startTime":3396.49,"endTime":3399.8199999999997,"body":"can't see myself doing that I'm"},{"speaker":"Nick Lincoln","startTime":3396.49,"endTime":3399.8199999999997,"body":"envious of, there are certain"},{"speaker":"Nick Lincoln","startTime":3399.8199999999997,"endTime":3403.27,"body":"things I'm envious of certain"},{"speaker":"Nick Lincoln","startTime":3399.8199999999997,"endTime":3403.27,"body":"points of car, your setup with"},{"speaker":"Nick Lincoln","startTime":3403.27,"endTime":3406.72,"body":"Metis now and yours with"},{"speaker":"Nick Lincoln","startTime":3403.27,"endTime":3406.72,"body":"capital, because you have last"},{"speaker":"Nick Lincoln","startTime":3406.72,"endTime":3410.65,"body":"year to do things that I can't"},{"speaker":"Nick Lincoln","startTime":3406.72,"endTime":3410.65,"body":"do. But similarly, I there are"},{"speaker":"Nick Lincoln","startTime":3410.65,"endTime":3414.31,"body":"things that the corporate world"},{"speaker":"Nick Lincoln","startTime":3410.65,"endTime":3414.31,"body":"and you are corporates,"},{"speaker":"Nick Lincoln","startTime":3414.31,"endTime":3417.31,"body":"effectively, your businesses"},{"speaker":"Nick Lincoln","startTime":3414.31,"endTime":3417.31,"body":"with all the HR problems, and"},{"speaker":"Nick Lincoln","startTime":3417.31,"endTime":3420.22,"body":"just the politicking and"},{"speaker":"Nick Lincoln","startTime":3417.31,"endTime":3420.22,"body":"everything else, and sometimes"},{"speaker":"Nick Lincoln","startTime":3420.22,"endTime":3422.23,"body":"hiring the wrong person and"},{"speaker":"Nick Lincoln","startTime":3420.22,"endTime":3422.23,"body":"trying to get that person out of"},{"speaker":"Nick Lincoln","startTime":3422.23,"endTime":3424.66,"body":"your business. Because there are"},{"speaker":"Nick Lincoln","startTime":3422.23,"endTime":3424.66,"body":"a bit of accounts, I don't have"},{"speaker":"Nick Lincoln","startTime":3424.69,"endTime":3428.14,"body":"any of that. And on the balance"},{"speaker":"Nick Lincoln","startTime":3424.69,"endTime":3428.14,"body":"of things. I love being a solo"},{"speaker":"Nick Lincoln","startTime":3428.14,"endTime":3431.35,"body":"advisor that the pros far"},{"speaker":"Nick Lincoln","startTime":3428.14,"endTime":3431.35,"body":"outweigh the negatives, but it's"},{"speaker":"Nick Lincoln","startTime":3431.35,"endTime":3433.96,"body":"not for everybody. But obviously"},{"speaker":"Nick Lincoln","startTime":3431.35,"endTime":3433.96,"body":"I cannot, you know, fire myself,"},{"speaker":"Nick Lincoln","startTime":3433.96,"endTime":3436.93,"body":"I cannot ease myself out of the"},{"speaker":"Nick Lincoln","startTime":3433.96,"endTime":3436.93,"body":"business. And even Andy's route."},{"speaker":"Nick Lincoln","startTime":3436.93,"endTime":3439.0,"body":"I don't think I'm going to do"},{"speaker":"Nick Lincoln","startTime":3436.93,"endTime":3439.0,"body":"it. I've said it before in"},{"speaker":"Nick Lincoln","startTime":3439.0,"endTime":3442.06,"body":"Australia again, I started my"},{"speaker":"Nick Lincoln","startTime":3439.0,"endTime":3442.06,"body":"business is the Stephen Covey"},{"speaker":"Nick Lincoln","startTime":3442.06,"endTime":3444.88,"body":"thing, the seven Seven Habits of"},{"speaker":"Nick Lincoln","startTime":3442.06,"endTime":3444.88,"body":"Highly Effective People, it's I"},{"speaker":"Nick Lincoln","startTime":3444.88,"endTime":3447.52,"body":"think it's Habit number two is"},{"speaker":"Nick Lincoln","startTime":3444.88,"endTime":3447.52,"body":"begin with the end in mind. I"},{"speaker":"Nick Lincoln","startTime":3447.52,"endTime":3452.1099999999997,"body":"fashioned my business in 2008."},{"speaker":"Nick Lincoln","startTime":3447.52,"endTime":3452.1099999999997,"body":"So that's 16 years ago now 2008"},{"speaker":"Nick Lincoln","startTime":3452.1099999999997,"endTime":3454.93,"body":"I, okay, this is what I need to"},{"speaker":"Nick Lincoln","startTime":3452.1099999999997,"endTime":3454.93,"body":"earn. And this is what I need to"},{"speaker":"Nick Lincoln","startTime":3454.93,"endTime":3457.21,"body":"also be able to take the"},{"speaker":"Nick Lincoln","startTime":3454.93,"endTime":3457.21,"body":"business to fund for my future"},{"speaker":"Nick Lincoln","startTime":3457.21,"endTime":3460.06,"body":"self in whatever in pensions,"},{"speaker":"Nick Lincoln","startTime":3457.21,"endTime":3460.06,"body":"what have you and I work back"},{"speaker":"Nick Lincoln","startTime":3460.06,"endTime":3462.1,"body":"from that figure everything was"},{"speaker":"Nick Lincoln","startTime":3460.06,"endTime":3462.1,"body":"about working back from that,"},{"speaker":"Nick Lincoln","startTime":3462.1,"endTime":3463.7799999999997,"body":"okay, so I need that number."},{"speaker":"Nick Lincoln","startTime":3462.1,"endTime":3463.7799999999997,"body":"That's number of clients, I need"},{"speaker":"Nick Lincoln","startTime":3463.7799999999997,"endTime":3466.8399999999997,"body":"this level of turnover, and so"},{"speaker":"Nick Lincoln","startTime":3463.7799999999997,"endTime":3466.8399999999997,"body":"forth and so forth. If my your"},{"speaker":"Nick Lincoln","startTime":3466.8399999999997,"endTime":3469.81,"body":"point, Alan about your revenue,"},{"speaker":"Nick Lincoln","startTime":3466.8399999999997,"endTime":3469.81,"body":"plateauing for two or three"},{"speaker":"Nick Lincoln","startTime":3469.81,"endTime":3472.66,"body":"years, it doesn't really, it"},{"speaker":"Nick Lincoln","startTime":3469.81,"endTime":3472.66,"body":"doesn't really bother me, if my"},{"speaker":"Nick Lincoln","startTime":3472.66,"endTime":3475.99,"body":"if my turnover plateaus for two"},{"speaker":"Nick Lincoln","startTime":3472.66,"endTime":3475.99,"body":"or three years, I'd like it to"},{"speaker":"Nick Lincoln","startTime":3475.99,"endTime":3477.8199999999997,"body":"gradually go up and up and up."},{"speaker":"Nick Lincoln","startTime":3475.99,"endTime":3477.8199999999997,"body":"It doesn't bother me because I'm"},{"speaker":"Nick Lincoln","startTime":3477.8199999999997,"endTime":3479.77,"body":"still earning enough from the"},{"speaker":"Nick Lincoln","startTime":3477.8199999999997,"endTime":3479.77,"body":"business with it with the"},{"speaker":"Nick Lincoln","startTime":3479.77,"endTime":3482.2,"body":"turnover as it is now I'm still"},{"speaker":"Nick Lincoln","startTime":3479.77,"endTime":3482.2,"body":"drawing enough out of it and"},{"speaker":"Nick Lincoln","startTime":3482.2,"endTime":3484.81,"body":"putting it into little pots here"},{"speaker":"Nick Lincoln","startTime":3482.2,"endTime":3484.81,"body":"and there for my future self"},{"speaker":"Nick Lincoln","startTime":3485.0499999999997,"endTime":3487.15,"body":"with the current level of"},{"speaker":"Nick Lincoln","startTime":3485.0499999999997,"endTime":3487.15,"body":"income, and I'm still building"},{"speaker":"Nick Lincoln","startTime":3487.15,"endTime":3491.0499999999997,"body":"up my reserves each year. So I'm"},{"speaker":"Nick Lincoln","startTime":3487.15,"endTime":3491.0499999999997,"body":"very fortunate from that point"},{"speaker":"Nick Lincoln","startTime":3491.0499999999997,"endTime":3494.92,"body":"of view. And I think that one"},{"speaker":"Nick Lincoln","startTime":3491.0499999999997,"endTime":3494.92,"body":"day what will happen is, so as"},{"speaker":"Nick Lincoln","startTime":3494.92,"endTime":3496.72,"body":"I'm getting older, right, and"},{"speaker":"Nick Lincoln","startTime":3494.92,"endTime":3496.72,"body":"we're all getting older now it's"},{"speaker":"Nick Lincoln","startTime":3496.72,"endTime":3498.52,"body":"coming up more in annual"},{"speaker":"Nick Lincoln","startTime":3496.72,"endTime":3498.52,"body":"planning meetings of the class,"},{"speaker":"Nick Lincoln","startTime":3498.52,"endTime":3501.0099999999998,"body":"they're looking at me and say,"},{"speaker":"Nick Lincoln","startTime":3498.52,"endTime":3501.0099999999998,"body":"Nick, what are your plans? You"},{"speaker":"Nick Lincoln","startTime":3501.0099999999998,"endTime":3503.2599999999998,"body":"know, when when are you what's"},{"speaker":"Nick Lincoln","startTime":3501.0099999999998,"endTime":3503.2599999999998,"body":"what's happening with you and I"},{"speaker":"Nick Lincoln","startTime":3503.2599999999998,"endTime":3505.2999999999997,"body":"started them once and I've got a"},{"speaker":"Nick Lincoln","startTime":3503.2599999999998,"endTime":3505.2999999999997,"body":"plan with the lovely Penelope."},{"speaker":"Nick Lincoln","startTime":3505.5099999999998,"endTime":3507.49,"body":"Our plan is and I'll share this"},{"speaker":"Nick Lincoln","startTime":3505.5099999999998,"endTime":3507.49,"body":"with the TRAPPIST there's"},{"speaker":"Nick Lincoln","startTime":3507.73,"endTime":3511.27,"body":"nothing particularly personal"},{"speaker":"Nick Lincoln","startTime":3507.73,"endTime":3511.27,"body":"here that we are financial plan"},{"speaker":"Nick Lincoln","startTime":3511.2999999999997,"endTime":3513.7599999999998,"body":"because we do our own planning,"},{"speaker":"Nick Lincoln","startTime":3511.2999999999997,"endTime":3513.7599999999998,"body":"we take our own medicine, we use"},{"speaker":"Nick Lincoln","startTime":3513.7599999999998,"endTime":3515.83,"body":"the cash flow modeling"},{"speaker":"Nick Lincoln","startTime":3513.7599999999998,"endTime":3515.83,"body":"everything else is that we can"},{"speaker":"Nick Lincoln","startTime":3515.83,"endTime":3521.5299999999997,"body":"walk away from work at the age"},{"speaker":"Nick Lincoln","startTime":3515.83,"endTime":3521.5299999999997,"body":"of 60 If we want to write that"},{"speaker":"Nick Lincoln","startTime":3521.5299999999997,"endTime":3523.75,"body":"but that's all it's about the"},{"speaker":"Nick Lincoln","startTime":3521.5299999999997,"endTime":3523.75,"body":"financial planning and then this"},{"speaker":"Nick Lincoln","startTime":3523.75,"endTime":3526.93,"body":"is this is a message I would I"},{"speaker":"Nick Lincoln","startTime":3523.75,"endTime":3526.93,"body":"urge trappers to to take out"},{"speaker":"Nick Lincoln","startTime":3526.93,"endTime":3529.18,"body":"especially younger ones"},{"speaker":"Nick Lincoln","startTime":3526.93,"endTime":3529.18,"body":"financial cash is about choice."},{"speaker":"Nick Lincoln","startTime":3529.18,"endTime":3531.67,"body":"That's all it's about. All"},{"speaker":"Nick Lincoln","startTime":3529.18,"endTime":3531.67,"body":"right, money gives you choices."},{"speaker":"Nick Lincoln","startTime":3531.67,"endTime":3534.85,"body":"The the accretion of money for"},{"speaker":"Nick Lincoln","startTime":3531.67,"endTime":3534.85,"body":"its own sake is horrible, and"},{"speaker":"Nick Lincoln","startTime":3534.85,"endTime":3536.71,"body":"the people and people who will"},{"speaker":"Nick Lincoln","startTime":3534.85,"endTime":3536.71,"body":"create money for its own sake,"},{"speaker":"Nick Lincoln","startTime":3537.04,"endTime":3541.18,"body":"will never have enough and then"},{"speaker":"Nick Lincoln","startTime":3537.04,"endTime":3541.18,"body":"perpetually miserable. Money's"},{"speaker":"Nick Lincoln","startTime":3541.18,"endTime":3543.4,"body":"about having choices. So our"},{"speaker":"Nick Lincoln","startTime":3541.18,"endTime":3543.4,"body":"plan is okay, but the actual"},{"speaker":"Nick Lincoln","startTime":3543.4,"endTime":3547.69,"body":"ratio around the age of 60. Can"},{"speaker":"Nick Lincoln","startTime":3543.4,"endTime":3547.69,"body":"we have enough that if certainly"},{"speaker":"Nick Lincoln","startTime":3547.69,"endTime":3549.58,"body":"penny would that being a head"},{"speaker":"Nick Lincoln","startTime":3547.69,"endTime":3549.58,"body":"teacher, it's very, it's"},{"speaker":"Nick Lincoln","startTime":3549.58,"endTime":3551.68,"body":"grueling work, and she will do"},{"speaker":"Nick Lincoln","startTime":3549.58,"endTime":3551.68,"body":"something else maybe"},{"speaker":"Nick Lincoln","startTime":3551.68,"endTime":3554.2599999999998,"body":"consultancy, but she wants to be"},{"speaker":"Nick Lincoln","startTime":3551.68,"endTime":3554.2599999999998,"body":"out of it at around the age of"},{"speaker":"Nick Lincoln","startTime":3554.2599999999998,"endTime":3558.31,"body":"60. I think when I get to 60,"},{"speaker":"Nick Lincoln","startTime":3554.2599999999998,"endTime":3558.31,"body":"I'm gonna keep on doing what I"},{"speaker":"Nick Lincoln","startTime":3558.31,"endTime":3560.83,"body":"do, because I love it. And I"},{"speaker":"Nick Lincoln","startTime":3558.31,"endTime":3560.83,"body":"love that like Carl, I love the"},{"speaker":"Nick Lincoln","startTime":3560.83,"endTime":3563.41,"body":"meetings, it's the best part of"},{"speaker":"Nick Lincoln","startTime":3560.83,"endTime":3563.41,"body":"the job and interacting with"},{"speaker":"Nick Lincoln","startTime":3563.41,"endTime":3566.23,"body":"people. And I get a lot of"},{"speaker":"Nick Lincoln","startTime":3563.41,"endTime":3566.23,"body":"personal worth from from from"},{"speaker":"Nick Lincoln","startTime":3566.23,"endTime":3568.15,"body":"doing my job, what am I going to"},{"speaker":"Nick Lincoln","startTime":3566.23,"endTime":3568.15,"body":"do? You know, and we're looking"},{"speaker":"Nick Lincoln","startTime":3568.15,"endTime":3571.8399999999997,"body":"at the other pubs open yet, you"},{"speaker":"Nick Lincoln","startTime":3568.15,"endTime":3571.8399999999997,"body":"know, and that that's that I"},{"speaker":"Nick Lincoln","startTime":3571.8399999999997,"endTime":3574.06,"body":"don't I don't want to fall more"},{"speaker":"Nick Lincoln","startTime":3571.8399999999997,"endTime":3574.06,"body":"into that kind of lifestyle for"},{"speaker":"Nick Lincoln","startTime":3574.06,"endTime":3577.7799999999997,"body":"sure. So what I'm saying is,"},{"speaker":"Nick Lincoln","startTime":3574.06,"endTime":3577.7799999999997,"body":"I'll probably work and work and"},{"speaker":"Nick Lincoln","startTime":3577.7799999999997,"endTime":3579.8199999999997,"body":"work until one day I just that"},{"speaker":"Nick Lincoln","startTime":3577.7799999999997,"endTime":3579.8199999999997,"body":"you know, I just don't enjoy it,"},{"speaker":"Nick Lincoln","startTime":3579.8199999999997,"endTime":3583.0299999999997,"body":"the regulatory burdens are too"},{"speaker":"Nick Lincoln","startTime":3579.8199999999997,"endTime":3583.0299999999997,"body":"much. And at that point, I'll"},{"speaker":"Nick Lincoln","startTime":3583.0299999999997,"endTime":3586.06,"body":"either sell my business or I'll"},{"speaker":"Nick Lincoln","startTime":3583.0299999999997,"endTime":3586.06,"body":"just give it to somebody I you"},{"speaker":"Nick Lincoln","startTime":3586.06,"endTime":3588.13,"body":"know, I've always said that in"},{"speaker":"Nick Lincoln","startTime":3586.06,"endTime":3588.13,"body":"our financial plan myself and"},{"speaker":"Nick Lincoln","startTime":3588.13,"endTime":3590.5299999999997,"body":"pennies. There is no cell value"},{"speaker":"Nick Lincoln","startTime":3588.13,"endTime":3590.5299999999997,"body":"on the business. If we get"},{"speaker":"Nick Lincoln","startTime":3590.5299999999997,"endTime":3592.99,"body":"something it's an absolute bone,"},{"speaker":"Nick Lincoln","startTime":3590.5299999999997,"endTime":3592.99,"body":"who knows what legislation is"},{"speaker":"Nick Lincoln","startTime":3592.99,"endTime":3596.08,"body":"coming down the train the train"},{"speaker":"Nick Lincoln","startTime":3592.99,"endTime":3596.08,"body":"tracks in 1015 years time that"},{"speaker":"Nick Lincoln","startTime":3596.08,"endTime":3598.42,"body":"could wipe out all of our"},{"speaker":"Nick Lincoln","startTime":3596.08,"endTime":3598.42,"body":"businesses. You know, it may"},{"speaker":"Nick Lincoln","startTime":3598.42,"endTime":3600.73,"body":"well be the FCA says listen from"},{"speaker":"Nick Lincoln","startTime":3598.42,"endTime":3600.73,"body":"going forward. Now, we don't"},{"speaker":"Nick Lincoln","startTime":3600.73,"endTime":3604.0,"body":"want this one man or small micro"},{"speaker":"Nick Lincoln","startTime":3600.73,"endTime":3604.0,"body":"businesses, you've got to have X"},{"speaker":"Nick Lincoln","startTime":3604.24,"endTime":3608.41,"body":"million of CAP add, you've got"},{"speaker":"Nick Lincoln","startTime":3604.24,"endTime":3608.41,"body":"to have at least 30 advisors and"},{"speaker":"Nick Lincoln","startTime":3608.41,"endTime":3610.24,"body":"you've got to follow a"},{"speaker":"Nick Lincoln","startTime":3608.41,"endTime":3610.24,"body":"prescribed path to deliver"},{"speaker":"Nick Lincoln","startTime":3610.24,"endTime":3612.7,"body":"financial advice might sound a"},{"speaker":"Nick Lincoln","startTime":3610.24,"endTime":3612.7,"body":"bit wacky, but you never know"},{"speaker":"Nick Lincoln","startTime":3612.7,"endTime":3614.62,"body":"what's coming down the line and"},{"speaker":"Nick Lincoln","startTime":3612.7,"endTime":3614.62,"body":"that would wipe out all of our"},{"speaker":"Nick Lincoln","startTime":3614.62,"endTime":3618.0099999999998,"body":"businesses. So I haven't built"},{"speaker":"Nick Lincoln","startTime":3614.62,"endTime":3618.0099999999998,"body":"in any business plan. business"},{"speaker":"Nick Lincoln","startTime":3618.0099999999998,"endTime":3621.5499999999997,"body":"selling in our financial plans,"},{"speaker":"Nick Lincoln","startTime":3618.0099999999998,"endTime":3621.5499999999997,"body":"I will just sell the business."},{"speaker":"Nick Lincoln","startTime":3621.88,"endTime":3624.37,"body":"And I'll just do it cold turkey."},{"speaker":"Nick Lincoln","startTime":3621.88,"endTime":3624.37,"body":"I won't hand over Andy to"},{"speaker":"Nick Lincoln","startTime":3624.37,"endTime":3627.79,"body":"someone like young apprentice I"},{"speaker":"Nick Lincoln","startTime":3624.37,"endTime":3627.79,"body":"mean, maybe my son will develop"},{"speaker":"Nick Lincoln","startTime":3627.79,"endTime":3631.21,"body":"into an financial adviser I"},{"speaker":"Nick Lincoln","startTime":3627.79,"endTime":3631.21,"body":"don't know. But I'm not forcing"},{"speaker":"Nick Lincoln","startTime":3631.21,"endTime":3633.0099999999998,"body":"on him by any means. And I'm"},{"speaker":"Nick Lincoln","startTime":3631.21,"endTime":3633.0099999999998,"body":"certainly not letting him know"},{"speaker":"Nick Lincoln","startTime":3633.0099999999998,"endTime":3634.9,"body":"it's an option because I want"},{"speaker":"Nick Lincoln","startTime":3633.0099999999998,"endTime":3634.9,"body":"him to go and forge his own path"},{"speaker":"Nick Lincoln","startTime":3634.9,"endTime":3637.7799999999997,"body":"in the world and not so I think"},{"speaker":"Nick Lincoln","startTime":3634.9,"endTime":3637.7799999999997,"body":"we've all known if a firm's"},{"speaker":"Nick Lincoln","startTime":3637.7799999999997,"endTime":3640.54,"body":"where it goes from and yes, yes,"},{"speaker":"Nick Lincoln","startTime":3637.7799999999997,"endTime":3640.54,"body":"sorry, ladies, it is may or when"},{"speaker":"Nick Lincoln","startTime":3640.54,"endTime":3643.45,"body":"it goes from father to son, and"},{"speaker":"Nick Lincoln","startTime":3640.54,"endTime":3643.45,"body":"the son isn't entitled to that"},{"speaker":"Nick Lincoln","startTime":3643.45,"endTime":3645.64,"body":"and that they're just generally"},{"speaker":"Nick Lincoln","startTime":3643.45,"endTime":3645.64,"body":"useless and it doesn't end up"},{"speaker":"Nick Lincoln","startTime":3645.64,"endTime":3648.97,"body":"well. That's that's a Latin"},{"speaker":"Nick Lincoln","startTime":3645.64,"endTime":3648.97,"body":"phrase car. So that's my that's"},{"speaker":"Nick Lincoln","startTime":3648.97,"endTime":3651.79,"body":"my view on it as as as the"},{"speaker":"Nick Lincoln","startTime":3648.97,"endTime":3651.79,"body":"ultimate one I'm really I'm more"},{"speaker":"Nick Lincoln","startTime":3651.79,"endTime":3655.06,"body":"of a one man band and Ultra, and"},{"speaker":"Nick Lincoln","startTime":3651.79,"endTime":3655.06,"body":"that's saying something that and"},{"speaker":"Nick Lincoln","startTime":3655.06,"endTime":3657.58,"body":"that's my approach to it. I'll"},{"speaker":"Nick Lincoln","startTime":3655.06,"endTime":3657.58,"body":"keep on doing it for as long as"},{"speaker":"Nick Lincoln","startTime":3657.58,"endTime":3660.8199999999997,"body":"I love it the moment I don't"},{"speaker":"Nick Lincoln","startTime":3657.58,"endTime":3660.8199999999997,"body":"love it. And we've got enough, a"},{"speaker":"Nick Lincoln","startTime":3660.8199999999997,"endTime":3663.97,"body":"walk away. And just a quick trip"},{"speaker":"Nick Lincoln","startTime":3660.8199999999997,"endTime":3663.97,"body":"in"},{"speaker":"Andy Hart","startTime":3665.17,"endTime":3667.9,"body":"the advisors. I know"},{"speaker":"Andy Hart","startTime":3665.17,"endTime":3667.9,"body":"that asoto founders that have"},{"speaker":"Andy Hart","startTime":3667.9,"endTime":3671.23,"body":"then employed an advisor to"},{"speaker":"Andy Hart","startTime":3667.9,"endTime":3671.23,"body":"basically take over the client"},{"speaker":"Andy Hart","startTime":3671.23,"endTime":3674.65,"body":"where they're not taken on a"},{"speaker":"Andy Hart","startTime":3671.23,"endTime":3674.65,"body":"young apprentice is a very"},{"speaker":"Andy Hart","startTime":3674.65,"endTime":3677.44,"body":"established advisor and they're"},{"speaker":"Andy Hart","startTime":3674.65,"endTime":3677.44,"body":"paying have a serious chunk of"},{"speaker":"Andy Hart","startTime":3677.44,"endTime":3679.9,"body":"money because the company can"},{"speaker":"Andy Hart","startTime":3677.44,"endTime":3679.9,"body":"afford it you know they're"},{"speaker":"Andy Hart","startTime":3679.9,"endTime":3682.54,"body":"hitting the ground sprinting"},{"speaker":"Andy Hart","startTime":3679.9,"endTime":3682.54,"body":"than or hitting the ground"},{"speaker":"Andy Hart","startTime":3682.54,"endTime":3684.67,"body":"walking, running or hitting the"},{"speaker":"Andy Hart","startTime":3682.54,"endTime":3684.67,"body":"ground sprinting and it's"},{"speaker":"Andy Hart","startTime":3684.67,"endTime":3688.7799999999997,"body":"usually an advisor they've known"},{"speaker":"Andy Hart","startTime":3684.67,"endTime":3688.7799999999997,"body":"for 1020 years anyway and that"},{"speaker":"Andy Hart","startTime":3688.7799999999997,"endTime":3691.66,"body":"advisor for various reasons have"},{"speaker":"Andy Hart","startTime":3688.7799999999997,"endTime":3691.66,"body":"got this got capacity to"},{"speaker":"Andy Hart","startTime":3691.72,"endTime":3694.0899999999997,"body":"basically look after the kinds"},{"speaker":"Andy Hart","startTime":3691.72,"endTime":3694.0899999999997,"body":"of X amount of years so that's"},{"speaker":"Andy Hart","startTime":3694.0899999999997,"endTime":3695.1099999999997,"body":"the quick point on that."},{"speaker":"Alan Smith","startTime":3695.38,"endTime":3698.7999999999997,"body":"So what are you are"},{"speaker":"Alan Smith","startTime":3695.38,"endTime":3698.7999999999997,"body":"you angling you angling there to"},{"speaker":"Alan Smith","startTime":3698.7999999999997,"endTime":3701.65,"body":"take over hat tip financial"},{"speaker":"Alan Smith","startTime":3698.7999999999997,"endTime":3701.65,"body":"services, so"},{"speaker":"Unknown","startTime":3702.79,"endTime":3705.1,"body":"it might be a next"},{"speaker":"Unknown","startTime":3702.79,"endTime":3705.1,"body":"business plan but I can tell you"},{"speaker":"Nick Lincoln","startTime":3713.08,"endTime":3715.0299999999997,"body":"it would be a to a"},{"speaker":"Nick Lincoln","startTime":3713.08,"endTime":3715.0299999999997,"body":"like minded device like like"},{"speaker":"Nick Lincoln","startTime":3715.0299999999997,"endTime":3718.9,"body":"Andy obviously, because we're"},{"speaker":"Nick Lincoln","startTime":3715.0299999999997,"endTime":3718.9,"body":"similar outlook and we see the"},{"speaker":"Nick Lincoln","startTime":3718.9,"endTime":3720.49,"body":"world in similar ways. And we"},{"speaker":"Nick Lincoln","startTime":3718.9,"endTime":3720.49,"body":"use the same kind of language"},{"speaker":"Nick Lincoln","startTime":3720.49,"endTime":3722.92,"body":"with our clients and you want to"},{"speaker":"Nick Lincoln","startTime":3720.49,"endTime":3722.92,"body":"you want to consistency and"},{"speaker":"Nick Lincoln","startTime":3723.0699999999997,"endTime":3725.74,"body":"continuity of message and so"},{"speaker":"Nick Lincoln","startTime":3723.0699999999997,"endTime":3725.74,"body":"with only with with your"},{"speaker":"Nick Lincoln","startTime":3725.74,"endTime":3727.54,"body":"approach, and if you did that if"},{"speaker":"Nick Lincoln","startTime":3725.74,"endTime":3727.54,"body":"you if you brought in an"},{"speaker":"Nick Lincoln","startTime":3727.54,"endTime":3731.2599999999998,"body":"experienced advisor, right, you"},{"speaker":"Nick Lincoln","startTime":3727.54,"endTime":3731.2599999999998,"body":"would still be owning Maven, but"},{"speaker":"Nick Lincoln","startTime":3731.2599999999998,"endTime":3733.87,"body":"But you should be paying this"},{"speaker":"Nick Lincoln","startTime":3731.2599999999998,"endTime":3733.87,"body":"guy to or girl, yeah,"},{"speaker":"Andy Hart","startTime":3733.87,"endTime":3737.74,"body":"you are 100% owner of"},{"speaker":"Andy Hart","startTime":3733.87,"endTime":3737.74,"body":"the business, you are 100%"},{"speaker":"Andy Hart","startTime":3737.74,"endTime":3739.93,"body":"entitled to the profits or"},{"speaker":"Andy Hart","startTime":3737.74,"endTime":3739.93,"body":"however you want to distribute"},{"speaker":"Andy Hart","startTime":3739.93,"endTime":3741.6099999999997,"body":"everything the numbers need to"},{"speaker":"Andy Hart","startTime":3739.93,"endTime":3741.6099999999997,"body":"be"},{"speaker":"Nick Lincoln","startTime":3741.64,"endTime":3742.9,"body":"give me a call,"},{"speaker":"Nick Lincoln","startTime":3741.64,"endTime":3742.9,"body":"I'll change on my give me a"},{"speaker":"Nick Lincoln","startTime":3742.9,"endTime":3747.46,"body":"call. And after this, that's"},{"speaker":"Nick Lincoln","startTime":3742.9,"endTime":3747.46,"body":"great. Whenever two parts, buy"},{"speaker":"Nick Lincoln","startTime":3747.73,"endTime":3749.02,"body":"and sale, yeah."},{"speaker":"Unknown","startTime":3749.41,"endTime":3753.22,"body":"What does this person"},{"speaker":"Unknown","startTime":3749.41,"endTime":3753.22,"body":"then do all the client meetings"},{"speaker":"Unknown","startTime":3753.25,"endTime":3754.9,"body":"do absolutely everything. So"},{"speaker":"Andy Hart","startTime":3754.9,"endTime":3757.33,"body":"what I've seen, what"},{"speaker":"Andy Hart","startTime":3754.9,"endTime":3757.33,"body":"I've seen is keep it simple. One"},{"speaker":"Andy Hart","startTime":3757.33,"endTime":3761.47,"body":"solo advisor founder with a team"},{"speaker":"Andy Hart","startTime":3757.33,"endTime":3761.47,"body":"of three admin, you know,"},{"speaker":"Andy Hart","startTime":3761.47,"endTime":3765.0699999999997,"body":"looking at the punchy numbers"},{"speaker":"Andy Hart","startTime":3761.47,"endTime":3765.0699999999997,"body":"and clients, high high profit in"},{"speaker":"Andy Hart","startTime":3765.0699999999997,"endTime":3767.8599999999997,"body":"the company, minimal costs, you"},{"speaker":"Andy Hart","startTime":3765.0699999999997,"endTime":3767.8599999999997,"body":"know, the the, the, you know,"},{"speaker":"Andy Hart","startTime":3768.0099999999998,"endTime":3773.14,"body":"the the ultimate type firm of"},{"speaker":"Andy Hart","startTime":3768.0099999999998,"endTime":3773.14,"body":"that setup. And then they don't"},{"speaker":"Andy Hart","startTime":3773.14,"endTime":3779.14,"body":"want to sell to X Y, Zed grubby"},{"speaker":"Andy Hart","startTime":3773.14,"endTime":3779.14,"body":"PLC, however, they want the"},{"speaker":"Andy Hart","startTime":3779.14,"endTime":3782.5299999999997,"body":"clients to be looked after, and"},{"speaker":"Andy Hart","startTime":3779.14,"endTime":3782.5299999999997,"body":"still, you know, juice the"},{"speaker":"Andy Hart","startTime":3782.5299999999997,"endTime":3784.81,"body":"income out of that business that"},{"speaker":"Andy Hart","startTime":3782.5299999999997,"endTime":3784.81,"body":"they've built for the last 20 or"},{"speaker":"Andy Hart","startTime":3784.81,"endTime":3787.9,"body":"30 years. So they find a device"},{"speaker":"Andy Hart","startTime":3784.81,"endTime":3787.9,"body":"that they know well enough,"},{"speaker":"Andy Hart","startTime":3787.9,"endTime":3792.97,"body":"that's still quite young, let's"},{"speaker":"Andy Hart","startTime":3787.9,"endTime":3792.97,"body":"say late 40s, early 50s. You pay"},{"speaker":"Andy Hart","startTime":3792.97,"endTime":3795.88,"body":"them a couple 100 grand a year"},{"speaker":"Andy Hart","startTime":3792.97,"endTime":3795.88,"body":"to do all the client work,"},{"speaker":"Andy Hart","startTime":3795.91,"endTime":3800.41,"body":"you're still regulated as the"},{"speaker":"Andy Hart","startTime":3795.91,"endTime":3800.41,"body":"owner for various reasons,"},{"speaker":"Andy Hart","startTime":3800.41,"endTime":3802.15,"body":"because he's still discussing"},{"speaker":"Andy Hart","startTime":3800.41,"endTime":3802.15,"body":"things with him. And you're and"},{"speaker":"Andy Hart","startTime":3802.15,"endTime":3806.29,"body":"you're a rainmaker, so you bring"},{"speaker":"Andy Hart","startTime":3802.15,"endTime":3806.29,"body":"in new clients, for the person"},{"speaker":"Andy Hart","startTime":3806.38,"endTime":3811.66,"body":"below them. So you're given up"},{"speaker":"Andy Hart","startTime":3806.38,"endTime":3811.66,"body":"on a know, let's say, 20 to 30%"},{"speaker":"Andy Hart","startTime":3811.66,"endTime":3814.81,"body":"of what used to take out the"},{"speaker":"Andy Hart","startTime":3811.66,"endTime":3814.81,"body":"company will be now diverted to"},{"speaker":"Andy Hart","startTime":3814.81,"endTime":3818.02,"body":"the to the salary of this"},{"speaker":"Andy Hart","startTime":3814.81,"endTime":3818.02,"body":"advisor, that's going to hit the"},{"speaker":"Andy Hart","startTime":3818.02,"endTime":3822.22,"body":"ground, sprinting and take over"},{"speaker":"Andy Hart","startTime":3818.02,"endTime":3822.22,"body":"the clients. Again, similar type"},{"speaker":"Andy Hart","startTime":3822.22,"endTime":3827.68,"body":"of advisor that is, you know,"},{"speaker":"Andy Hart","startTime":3822.22,"endTime":3827.68,"body":"financial planning lead, you"},{"speaker":"Andy Hart","startTime":3827.68,"endTime":3831.4,"body":"know, global equity, location"},{"speaker":"Andy Hart","startTime":3827.68,"endTime":3831.4,"body":"investing, you know, it's not"},{"speaker":"Andy Hart","startTime":3831.4,"endTime":3834.49,"body":"like, Oh, we're going to pull"},{"speaker":"Andy Hart","startTime":3831.4,"endTime":3834.49,"body":"out the plumbing of Mr. or Mrs."},{"speaker":"Andy Hart","startTime":3834.49,"endTime":3836.41,"body":"Miggins, that you Millikan after"},{"speaker":"Andy Hart","startTime":3834.49,"endTime":3836.41,"body":"the last 20 years, and we're"},{"speaker":"Andy Hart","startTime":3836.41,"endTime":3841.54,"body":"going to set up an offshore"},{"speaker":"Andy Hart","startTime":3836.41,"endTime":3841.54,"body":"multi trust situation. Keep all"},{"speaker":"Andy Hart","startTime":3841.54,"endTime":3843.88,"body":"the plug in the same it's"},{"speaker":"Andy Hart","startTime":3841.54,"endTime":3843.88,"body":"perfectly set up my friend don't"},{"speaker":"Andy Hart","startTime":3844.9,"endTime":3847.66,"body":"bollocks it up. So yeah, that's"},{"speaker":"Andy Hart","startTime":3844.9,"endTime":3847.66,"body":"the strategy I've seen. And I"},{"speaker":"Andy Hart","startTime":3847.66,"endTime":3850.18,"body":"think that is going to become"},{"speaker":"Andy Hart","startTime":3847.66,"endTime":3850.18,"body":"more and more common,"},{"speaker":"Andy Hart","startTime":3850.18,"endTime":3850.81,"body":"potentially."},{"speaker":"Nick Lincoln","startTime":3851.74,"endTime":3855.49,"body":"Interesting. Okay,"},{"speaker":"Nick Lincoln","startTime":3851.74,"endTime":3855.49,"body":"gents, we were at the hour mark."},{"speaker":"Nick Lincoln","startTime":3855.49,"endTime":3858.13,"body":"That was, that was a meeting"},{"speaker":"Nick Lincoln","startTime":3855.49,"endTime":3858.13,"body":"potential. So I got a lot more"},{"speaker":"Nick Lincoln","startTime":3858.13,"endTime":3860.65,"body":"out of that than I thought. And"},{"speaker":"Nick Lincoln","startTime":3858.13,"endTime":3860.65,"body":"I think we gave him a damn. A"},{"speaker":"Nick Lincoln","startTime":3860.65,"endTime":3864.7599999999998,"body":"damn good thrashing. So without"},{"speaker":"Nick Lincoln","startTime":3860.65,"endTime":3864.7599999999998,"body":"any further ado, let's head"},{"speaker":"Nick Lincoln","startTime":3864.7599999999998,"endTime":3868.33,"body":"over. No, no, no, it's not. It's"},{"speaker":"Nick Lincoln","startTime":3864.7599999999998,"endTime":3868.33,"body":"not it's just seems that the"},{"speaker":"Nick Lincoln","startTime":3868.33,"endTime":3873.25,"body":"door Fingers crossed. Oh, my"},{"speaker":"Nick Lincoln","startTime":3868.33,"endTime":3873.25,"body":"God. It actually works. Praise"},{"speaker":"Nick Lincoln","startTime":3873.25,"endTime":3880.93,"body":"be praise be. That is posted at"},{"speaker":"Nick Lincoln","startTime":3873.25,"endTime":3880.93,"body":"my front door. She's hold a"},{"speaker":"Nick Lincoln","startTime":3880.93,"endTime":3883.9,"body":"bulging sack of trappers"},{"speaker":"Nick Lincoln","startTime":3880.93,"endTime":3883.9,"body":"questions about my drive. And"},{"speaker":"Nick Lincoln","startTime":3883.9,"endTime":3887.71,"body":"she's just sticking them through"},{"speaker":"Nick Lincoln","startTime":3883.9,"endTime":3887.71,"body":"the post box. This is the part"},{"speaker":"Nick Lincoln","startTime":3887.71,"endTime":3889.48,"body":"of the show where we answer"},{"speaker":"Nick Lincoln","startTime":3887.71,"endTime":3889.48,"body":"questions from our beloved"},{"speaker":"Nick Lincoln","startTime":3889.48,"endTime":3893.3199999999997,"body":"tracklist. If you want to post"},{"speaker":"Nick Lincoln","startTime":3889.48,"endTime":3893.3199999999997,"body":"us a question, please do so."},{"speaker":"Nick Lincoln","startTime":3893.44,"endTime":3895.72,"body":"There's a link in a so called"},{"speaker":"Nick Lincoln","startTime":3893.44,"endTime":3895.72,"body":"shownotes. Scroll right to the"},{"speaker":"Nick Lincoln","startTime":3895.72,"endTime":3899.0499999999997,"body":"bottom and the link is there"},{"speaker":"Nick Lincoln","startTime":3895.72,"endTime":3899.0499999999997,"body":"because the pinned tweet"},{"speaker":"Nick Lincoln","startTime":3899.0499999999997,"endTime":3902.62,"body":"presently is for our trap live"},{"speaker":"Nick Lincoln","startTime":3899.0499999999997,"endTime":3902.62,"body":"event on ninth? Ninth of May. So"},{"speaker":"Nick Lincoln","startTime":3902.7999999999997,"endTime":3904.8399999999997,"body":"you can't do it by there. But do"},{"speaker":"Nick Lincoln","startTime":3902.7999999999997,"endTime":3904.8399999999997,"body":"do it in the so called"},{"speaker":"Nick Lincoln","startTime":3904.8399999999997,"endTime":3907.72,"body":"shownotes. Now let's have a look"},{"speaker":"Nick Lincoln","startTime":3904.8399999999997,"endTime":3907.72,"body":"and see who this question is"},{"speaker":"Nick Lincoln","startTime":3907.72,"endTime":3910.48,"body":"from but he got time today for"},{"speaker":"Nick Lincoln","startTime":3907.72,"endTime":3910.48,"body":"one question because this"},{"speaker":"Nick Lincoln","startTime":3910.48,"endTime":3912.97,"body":"question again, like many of our"},{"speaker":"Nick Lincoln","startTime":3910.48,"endTime":3912.97,"body":"dear trapeze questions goes on"},{"speaker":"Nick Lincoln","startTime":3912.97,"endTime":3916.15,"body":"for about three years, and I'll"},{"speaker":"Nick Lincoln","startTime":3912.97,"endTime":3916.15,"body":"try to get there without losing"},{"speaker":"Nick Lincoln","startTime":3916.15,"endTime":3919.12,"body":"the will to live. So this is"},{"speaker":"Nick Lincoln","startTime":3916.15,"endTime":3919.12,"body":"from Alice to pee who's on"},{"speaker":"Nick Lincoln","startTime":3919.12,"endTime":3926.2599999999998,"body":"Twitter as at a P 592 D catchy"},{"speaker":"Nick Lincoln","startTime":3919.12,"endTime":3926.2599999999998,"body":"Aleister. I should try that. And"},{"speaker":"Nick Lincoln","startTime":3926.2599999999998,"endTime":3928.54,"body":"it doesn't work either in the"},{"speaker":"Nick Lincoln","startTime":3926.2599999999998,"endTime":3928.54,"body":"Twitter browser. So either"},{"speaker":"Nick Lincoln","startTime":3929.17,"endTime":3932.35,"body":"you've managed to get your"},{"speaker":"Nick Lincoln","startTime":3929.17,"endTime":3932.35,"body":"handle wrong or something"},{"speaker":"Nick Lincoln","startTime":3932.38,"endTime":3934.8399999999997,"body":"strange is happening. Anyway."},{"speaker":"Nick Lincoln","startTime":3932.38,"endTime":3934.8399999999997,"body":"Enough rambling. What's your"},{"speaker":"Nick Lincoln","startTime":3934.8399999999997,"endTime":3938.14,"body":"question? Here we go have a lie"},{"speaker":"Nick Lincoln","startTime":3934.8399999999997,"endTime":3938.14,"body":"down somebody found at the pod"},{"speaker":"Nick Lincoln","startTime":3938.14,"endTime":3940.93,"body":"great to listen to thoughtful"},{"speaker":"Nick Lincoln","startTime":3938.14,"endTime":3940.93,"body":"discussion having taken the"},{"speaker":"Nick Lincoln","startTime":3940.93,"endTime":3945.04,"body":"plunge to go directly authorised"},{"speaker":"Nick Lincoln","startTime":3940.93,"endTime":3945.04,"body":"in 2021. The general consensus"},{"speaker":"Nick Lincoln","startTime":3945.04,"endTime":3947.5899999999997,"body":"during the last episode was that"},{"speaker":"Nick Lincoln","startTime":3945.04,"endTime":3947.5899999999997,"body":"a typical married couple"},{"speaker":"Nick Lincoln","startTime":3947.83,"endTime":3950.92,"body":"retirement planning should go"},{"speaker":"Nick Lincoln","startTime":3947.83,"endTime":3950.92,"body":"with 100k Premium Bonds and the"},{"speaker":"Nick Lincoln","startTime":3950.92,"endTime":3954.25,"body":"rest of their global equity"},{"speaker":"Nick Lincoln","startTime":3950.92,"endTime":3954.25,"body":"fund. Genuine question as we use"},{"speaker":"Nick Lincoln","startTime":3954.25,"endTime":3959.98,"body":"risk profiling questionnaires"},{"speaker":"Nick Lincoln","startTime":3954.25,"endTime":3959.98,"body":"that help dictate asset"},{"speaker":"Nick Lincoln","startTime":3959.98,"endTime":3963.2799999999997,"body":"allocation and I agree it feels"},{"speaker":"Nick Lincoln","startTime":3959.98,"endTime":3963.2799999999997,"body":"broken with to larger content"},{"speaker":"Nick Lincoln","startTime":3963.2799999999997,"endTime":3965.56,"body":"going towards money market bond"},{"speaker":"Nick Lincoln","startTime":3963.2799999999997,"endTime":3965.56,"body":"funds for cautious clients"},{"speaker":"Nick Lincoln","startTime":3965.56,"endTime":3968.0499999999997,"body":"needing low volatility. They"},{"speaker":"Nick Lincoln","startTime":3965.56,"endTime":3968.0499999999997,"body":"don't need low volatility. I'll"},{"speaker":"Nick Lincoln","startTime":3968.0499999999997,"endTime":3971.2599999999998,"body":"come back to that. But how would"},{"speaker":"Nick Lincoln","startTime":3968.0499999999997,"endTime":3971.2599999999998,"body":"100k Premium Bonds and 100%"},{"speaker":"Nick Lincoln","startTime":3971.2599999999998,"endTime":3973.42,"body":"Global Equity Fund be"},{"speaker":"Nick Lincoln","startTime":3971.2599999999998,"endTime":3973.42,"body":"appropriate for a three hour"},{"speaker":"Nick Lincoln","startTime":3973.42,"endTime":3977.68,"body":"turn? Cautious attitude to risk"},{"speaker":"Nick Lincoln","startTime":3973.42,"endTime":3977.68,"body":"coupled in retirement, where are"},{"speaker":"Nick Lincoln","startTime":3977.68,"endTime":3979.72,"body":"you assuming that the clients"},{"speaker":"Nick Lincoln","startTime":3977.68,"endTime":3979.72,"body":"have income from other sources"},{"speaker":"Nick Lincoln","startTime":3979.72,"endTime":3982.06,"body":"to meet their expenditure needs?"},{"speaker":"Nick Lincoln","startTime":3979.72,"endTime":3982.06,"body":"Of course I acknowledge it"},{"speaker":"Nick Lincoln","startTime":3982.06,"endTime":3984.79,"body":"wasn't advice and acceptable"},{"speaker":"Nick Lincoln","startTime":3982.06,"endTime":3984.79,"body":"caveats for full factfinding"},{"speaker":"Nick Lincoln","startTime":3984.79,"endTime":3987.85,"body":"cetera perhaps I missed"},{"speaker":"Nick Lincoln","startTime":3984.79,"endTime":3987.85,"body":"something. Yeah, Alice to pee"},{"speaker":"Nick Lincoln","startTime":3988.18,"endTime":3990.73,"body":"with a strange twitter handle"},{"speaker":"Nick Lincoln","startTime":3988.18,"endTime":3990.73,"body":"that doesn't work. It sounds to"},{"speaker":"Nick Lincoln","startTime":3990.73,"endTime":3992.74,"body":"me and I'm reading between the"},{"speaker":"Nick Lincoln","startTime":3990.73,"endTime":3992.74,"body":"lines. And there's a lot of"},{"speaker":"Nick Lincoln","startTime":3992.74,"endTime":3995.1099999999997,"body":"readings, there are a lot of"},{"speaker":"Nick Lincoln","startTime":3992.74,"endTime":3995.1099999999997,"body":"lines and that question sounds"},{"speaker":"Nick Lincoln","startTime":3995.1099999999997,"endTime":3997.69,"body":"to me that you're not doing full"},{"speaker":"Nick Lincoln","startTime":3995.1099999999997,"endTime":3997.69,"body":"fat financial planning. There"},{"speaker":"Nick Lincoln","startTime":3997.69,"endTime":3999.6099999999997,"body":"are various points in that"},{"speaker":"Nick Lincoln","startTime":3997.69,"endTime":3999.6099999999997,"body":"question there that will be"},{"speaker":"Nick Lincoln","startTime":3999.6099999999997,"endTime":4002.52,"body":"answered. If you're doing cash"},{"speaker":"Nick Lincoln","startTime":3999.6099999999997,"endTime":4002.52,"body":"flow modeling. attitude to risk"},{"speaker":"Nick Lincoln","startTime":4002.52,"endTime":4005.31,"body":"doesn't help any married couple"},{"speaker":"Nick Lincoln","startTime":4002.52,"endTime":4005.31,"body":"in retirement, a three out of 10"},{"speaker":"Nick Lincoln","startTime":4005.31,"endTime":4008.64,"body":"low volatility couple will find"},{"speaker":"Nick Lincoln","startTime":4005.31,"endTime":4008.64,"body":"themselves running out of money"},{"speaker":"Nick Lincoln","startTime":4008.67,"endTime":4010.62,"body":"in all likelihood before they"},{"speaker":"Nick Lincoln","startTime":4008.67,"endTime":4010.62,"body":"run out of life. But the"},{"speaker":"Nick Lincoln","startTime":4010.62,"endTime":4013.23,"body":"compliance officer tick the box"},{"speaker":"Nick Lincoln","startTime":4010.62,"endTime":4013.23,"body":"and he's long since retired"},{"speaker":"Nick Lincoln","startTime":4013.95,"endTime":4017.0099999999998,"body":"financial plan dictates the"},{"speaker":"Nick Lincoln","startTime":4013.95,"endTime":4017.0099999999998,"body":"portfolio financial plan will"},{"speaker":"Nick Lincoln","startTime":4017.0099999999998,"endTime":4020.79,"body":"incorporate other income streams"},{"speaker":"Nick Lincoln","startTime":4017.0099999999998,"endTime":4020.79,"body":"as you mentioned, of course, it"},{"speaker":"Nick Lincoln","startTime":4020.79,"endTime":4022.5299999999997,"body":"will and that will also"},{"speaker":"Nick Lincoln","startTime":4020.79,"endTime":4022.5299999999997,"body":"determine how you build the"},{"speaker":"Nick Lincoln","startTime":4022.5299999999997,"endTime":4027.0,"body":"actual portfolio from their"},{"speaker":"Nick Lincoln","startTime":4022.5299999999997,"endTime":4027.0,"body":"invested pots. I, if I'm wrong,"},{"speaker":"Nick Lincoln","startTime":4027.0,"endTime":4030.96,"body":"Aleister challenged me back,"},{"speaker":"Nick Lincoln","startTime":4027.0,"endTime":4030.96,"body":"maybe you'll come to trap live"},{"speaker":"Nick Lincoln","startTime":4030.96,"endTime":4033.93,"body":"and buy me a drink, which and"},{"speaker":"Nick Lincoln","startTime":4030.96,"endTime":4033.93,"body":"then pour of my head. But sounds"},{"speaker":"Nick Lincoln","startTime":4033.93,"endTime":4035.7599999999998,"body":"to me like you're not doing"},{"speaker":"Nick Lincoln","startTime":4033.93,"endTime":4035.7599999999998,"body":"financial planning. And if"},{"speaker":"Nick Lincoln","startTime":4035.7599999999998,"endTime":4039.54,"body":"you're not doing that everything"},{"speaker":"Nick Lincoln","startTime":4035.7599999999998,"endTime":4039.54,"body":"else is built on. It's a house"},{"speaker":"Nick Lincoln","startTime":4039.54,"endTime":4042.0,"body":"of cards that's waiting to come"},{"speaker":"Nick Lincoln","startTime":4039.54,"endTime":4042.0,"body":"down, it'll come down on that"},{"speaker":"Nick Lincoln","startTime":4042.0,"endTime":4044.22,"body":"married couple and about 20"},{"speaker":"Nick Lincoln","startTime":4042.0,"endTime":4044.22,"body":"years when they go to the bank."},{"speaker":"Nick Lincoln","startTime":4044.52,"endTime":4046.95,"body":"And the bank says sorry, your"},{"speaker":"Nick Lincoln","startTime":4044.52,"endTime":4046.95,"body":"portfolio has gone because it"},{"speaker":"Nick Lincoln","startTime":4046.95,"endTime":4049.56,"body":"hasn't kept pace with inflation."},{"speaker":"Nick Lincoln","startTime":4046.95,"endTime":4049.56,"body":"But you've got your three out of"},{"speaker":"Nick Lincoln","startTime":4049.56,"endTime":4051.39,"body":"10 Gents, any thoughts?"},{"speaker":"Andy Hart","startTime":4053.8199999999997,"endTime":4057.6,"body":"I'll chip in next"},{"speaker":"Andy Hart","startTime":4053.8199999999997,"endTime":4057.6,"body":"just to give it a go. Yeah, risk"},{"speaker":"Andy Hart","startTime":4057.6,"endTime":4062.22,"body":"is just risk is not just"},{"speaker":"Andy Hart","startTime":4057.6,"endTime":4062.22,"body":"volatility for the last time"},{"speaker":"Andy Hart","startTime":4062.22,"endTime":4066.7799999999997,"body":"some multifactor problem. In"},{"speaker":"Andy Hart","startTime":4062.22,"endTime":4066.7799999999997,"body":"order of destruction when it"},{"speaker":"Andy Hart","startTime":4066.7799999999997,"endTime":4070.17,"body":"comes to investing, I believe it"},{"speaker":"Andy Hart","startTime":4066.7799999999997,"endTime":4070.17,"body":"should be capital loss is your"},{"speaker":"Andy Hart","startTime":4070.2,"endTime":4073.35,"body":"biggest concern, then it's"},{"speaker":"Andy Hart","startTime":4070.2,"endTime":4073.35,"body":"inflation, then it's low"},{"speaker":"Andy Hart","startTime":4073.35,"endTime":4078.0299999999997,"body":"returns. And then finally it's"},{"speaker":"Andy Hart","startTime":4073.35,"endTime":4078.0299999999997,"body":"volatility. Please watch the"},{"speaker":"Andy Hart","startTime":4078.0299999999997,"endTime":4081.0299999999997,"body":"video I've put together called"},{"speaker":"Andy Hart","startTime":4078.0299999999997,"endTime":4081.0299999999997,"body":"informed risk on the humans on"},{"speaker":"Andy Hart","startTime":4081.0299999999997,"endTime":4087.27,"body":"the management.com website. It"},{"speaker":"Andy Hart","startTime":4081.0299999999997,"endTime":4087.27,"body":"puts this to bed in a very way"},{"speaker":"Andy Hart","startTime":4087.27,"endTime":4090.66,"body":"that I believe he'd appreciate"},{"speaker":"Andy Hart","startTime":4087.27,"endTime":4090.66,"body":"back to you Alan."},{"speaker":"Unknown","startTime":4093.93,"endTime":4099.54,"body":"And the the ultra crab"},{"speaker":"Unknown","startTime":4093.93,"endTime":4099.54,"body":"a Darien Andy knows about"},{"speaker":"Unknown","startTime":4099.54,"endTime":4105.99,"body":"everything. Andy can be told"},{"speaker":"Unknown","startTime":4099.54,"endTime":4105.99,"body":"anything His name is Andrew Hart"},{"speaker":"Andy Hart","startTime":4109.71,"endTime":4111.99,"body":"nearly made it to the"},{"speaker":"Andy Hart","startTime":4109.71,"endTime":4111.99,"body":"end I thought was gonna get away"},{"speaker":"Andy Hart","startTime":4111.99,"endTime":4113.43,"body":"with this week. But I"},{"speaker":"Nick Lincoln","startTime":4113.43,"endTime":4114.66,"body":"did kind of"},{"speaker":"Nick Lincoln","startTime":4113.43,"endTime":4114.66,"body":"shoehorn that one in a bit"},{"speaker":"Nick Lincoln","startTime":4114.66,"endTime":4116.52,"body":"there. So the bound found you,"},{"speaker":"Nick Lincoln","startTime":4114.66,"endTime":4116.52,"body":"but you were still beating"},{"speaker":"Nick Lincoln","startTime":4116.52,"endTime":4118.74,"body":"yourself up just a bit too much."},{"speaker":"Nick Lincoln","startTime":4116.52,"endTime":4118.74,"body":"Who was going next?"},{"speaker":"Alan Smith","startTime":4119.82,"endTime":4123.12,"body":"I think you guys"},{"speaker":"Alan Smith","startTime":4119.82,"endTime":4123.12,"body":"have. You've got to you've"},{"speaker":"Alan Smith","startTime":4123.12,"endTime":4127.47,"body":"covered it. You were extremely"},{"speaker":"Alan Smith","startTime":4123.12,"endTime":4127.47,"body":"rude to the person who submitted"},{"speaker":"Alan Smith","startTime":4127.47,"endTime":4131.34,"body":"the question, Nick. But that's"},{"speaker":"Alan Smith","startTime":4127.47,"endTime":4131.34,"body":"what we call tough love. That's"},{"speaker":"Alan Smith","startTime":4133.59,"endTime":4136.35,"body":"it? I'm really kidding. Yeah,"},{"speaker":"Alan Smith","startTime":4133.59,"endTime":4136.35,"body":"you're honest. The thing is, if"},{"speaker":"Alan Smith","startTime":4136.35,"endTime":4137.88,"body":"you do one of these"},{"speaker":"Alan Smith","startTime":4136.35,"endTime":4137.88,"body":"questionnaires, and I can't"},{"speaker":"Alan Smith","startTime":4137.88,"endTime":4140.37,"body":"remember last time I looked at"},{"speaker":"Alan Smith","startTime":4137.88,"endTime":4140.37,"body":"this, but a three out of 10, I"},{"speaker":"Alan Smith","startTime":4140.37,"endTime":4143.4000000000005,"body":"suspect is going to give you a"},{"speaker":"Alan Smith","startTime":4140.37,"endTime":4143.4000000000005,"body":"portfolio full of cash and"},{"speaker":"Alan Smith","startTime":4143.4000000000005,"endTime":4146.79,"body":"bonds, right for cash. This is"},{"speaker":"Alan Smith","startTime":4143.4000000000005,"endTime":4146.79,"body":"somebody who could have we've"},{"speaker":"Alan Smith","startTime":4146.79,"endTime":4148.32,"body":"seen or lots of other"},{"speaker":"Alan Smith","startTime":4146.79,"endTime":4148.32,"body":"statistics,"},{"speaker":"Andy Hart","startTime":4148.35,"endTime":4152.07,"body":"what three out of 10?"},{"speaker":"Andy Hart","startTime":4148.35,"endTime":4152.07,"body":"Well, on the volatility on on,"},{"speaker":"Andy Hart","startTime":4152.25,"endTime":4156.09,"body":"what's the financial plan where"},{"speaker":"Andy Hart","startTime":4152.25,"endTime":4156.09,"body":"the returns come from? If anyone"},{"speaker":"Andy Hart","startTime":4156.09,"endTime":4158.34,"body":"is listening to this, it's just"},{"speaker":"Andy Hart","startTime":4156.09,"endTime":4158.34,"body":"if"},{"speaker":"Alan Smith","startTime":4158.34,"endTime":4162.39,"body":"no one listens. 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What"},{"speaker":"Alan Smith","startTime":4168.4800000000005,"endTime":4172.29,"body":"about getting divorced, as you"},{"speaker":"Alan Smith","startTime":4172.29,"endTime":4175.59,"body":"know, the divorce rates are much"},{"speaker":"Alan Smith","startTime":4172.29,"endTime":4175.59,"body":"higher in the over 60s in the"},{"speaker":"Alan Smith","startTime":4175.59,"endTime":4178.92,"body":"iron under 60s, for example."},{"speaker":"Alan Smith","startTime":4175.59,"endTime":4178.92,"body":"There were so many variables"},{"speaker":"Nick Lincoln","startTime":4179.76,"endTime":4180.66,"body":"out there last"},{"speaker":"Nick Lincoln","startTime":4179.76,"endTime":4180.66,"body":"week, Ashley"},{"speaker":"Alan Smith","startTime":4182.7,"endTime":4186.75,"body":"and her lawyer help."},{"speaker":"Alan Smith","startTime":4182.7,"endTime":4186.75,"body":"You know, so there's so many"},{"speaker":"Alan Smith","startTime":4186.75,"endTime":4189.99,"body":"variables, right and so to try"},{"speaker":"Alan Smith","startTime":4186.75,"endTime":4189.99,"body":"to squeeze all this onto a tick"},{"speaker":"Alan Smith","startTime":4189.99,"endTime":4192.78,"body":"box questionnaire and then"},{"speaker":"Alan Smith","startTime":4189.99,"endTime":4192.78,"body":"determine the next 30 years of"},{"speaker":"Alan Smith","startTime":4192.78,"endTime":4195.57,"body":"your life is bordering on"},{"speaker":"Alan Smith","startTime":4192.78,"endTime":4195.57,"body":"criminal"},{"speaker":"Andy Hart","startTime":4197.519,"endTime":4201.599,"body":"is white collar crime"},{"speaker":"Andy Hart","startTime":4197.519,"endTime":4201.599,"body":"carries in portfolios that are"},{"speaker":"Andy Hart","startTime":4201.599,"endTime":4204.629,"body":"going to give them almost"},{"speaker":"Andy Hart","startTime":4201.599,"endTime":4204.629,"body":"nothing a massively underwater"},{"speaker":"Andy Hart","startTime":4204.629,"endTime":4206.399,"body":"against inflation. 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And there's no"},{"speaker":"Alan Smith","startTime":4217.7699999999995,"endTime":4221.22,"body":"legislation which says that you"},{"speaker":"Alan Smith","startTime":4217.7699999999995,"endTime":4221.22,"body":"have to but if you want to fine,"},{"speaker":"Alan Smith","startTime":4221.3099999999995,"endTime":4223.86,"body":"but it's one of about 30 Other"},{"speaker":"Alan Smith","startTime":4221.3099999999995,"endTime":4223.86,"body":"things that you want to discuss"},{"speaker":"Alan Smith","startTime":4223.86,"endTime":4226.74,"body":"and put in the mix and you've"},{"speaker":"Alan Smith","startTime":4223.86,"endTime":4226.74,"body":"talked about them already. 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If"},{"speaker":"Alan Smith","startTime":4240.0,"endTime":4242.43,"body":"you're getting your fee for"},{"speaker":"Alan Smith","startTime":4240.0,"endTime":4242.43,"body":"following a tick box and giving"},{"speaker":"Alan Smith","startTime":4242.43,"endTime":4245.46,"body":"clients what the box says that"},{"speaker":"Alan Smith","startTime":4242.43,"endTime":4245.46,"body":"they should have as opposed to"},{"speaker":"Alan Smith","startTime":4245.46,"endTime":4247.98,"body":"you telling them what they"},{"speaker":"Alan Smith","startTime":4245.46,"endTime":4247.98,"body":"really should have been doing it"},{"speaker":"Alan Smith","startTime":4247.98,"endTime":4250.14,"body":"through a process of"},{"speaker":"Alan Smith","startTime":4247.98,"endTime":4250.14,"body":"information, education,"},{"speaker":"Alan Smith","startTime":4250.14,"endTime":4252.87,"body":"guidance, coaching, all that"},{"speaker":"Alan Smith","startTime":4250.14,"endTime":4252.87,"body":"stuff. You're, you're earning"},{"speaker":"Alan Smith","startTime":4252.87,"endTime":4256.41,"body":"your fee 10 times over. If"},{"speaker":"Alan Smith","startTime":4252.87,"endTime":4256.41,"body":"you're delivering this tick box"},{"speaker":"Alan Smith","startTime":4256.41,"endTime":4258.9,"body":"stuff, you haven't earned a"},{"speaker":"Alan Smith","startTime":4256.41,"endTime":4258.9,"body":"penny of your fee. You should be"},{"speaker":"Andy Hart","startTime":4260.28,"endTime":4262.65,"body":"there was a financial"},{"speaker":"Andy Hart","startTime":4260.28,"endTime":4262.65,"body":"planner. Sorry guys. I think you"},{"speaker":"Andy Hart","startTime":4262.65,"endTime":4266.5199999999995,"body":"saw it on Twitter this week. Who"},{"speaker":"Andy Hart","startTime":4262.65,"endTime":4266.5199999999995,"body":"is I think working with his mum."},{"speaker":"Andy Hart","startTime":4267.12,"endTime":4270.8099999999995,"body":"And he sent his mum this mumbo"},{"speaker":"Andy Hart","startTime":4267.12,"endTime":4270.8099999999995,"body":"jumbo question Yes. Oh,"},{"speaker":"Unknown","startTime":4270.8099999999995,"endTime":4271.38,"body":"that yeah, I"},{"speaker":"Andy Hart","startTime":4271.38,"endTime":4275.04,"body":"also I also call it a"},{"speaker":"Andy Hart","startTime":4271.38,"endTime":4275.04,"body":"misconception mirror. You got to"},{"speaker":"Andy Hart","startTime":4275.04,"endTime":4276.93,"body":"fill in this misconception"},{"speaker":"Andy Hart","startTime":4275.04,"endTime":4276.93,"body":"American firm, we're"},{"speaker":"Andy Hart","startTime":4276.93,"endTime":4279.21,"body":"misconceptions back at you. And"},{"speaker":"Andy Hart","startTime":4276.93,"endTime":4279.21,"body":"then we're going to follow what"},{"speaker":"Andy Hart","startTime":4279.3,"endTime":4281.91,"body":"an investing illiterate would"},{"speaker":"Andy Hart","startTime":4279.3,"endTime":4281.91,"body":"want to do with their money. Why"},{"speaker":"Andy Hart","startTime":4281.91,"endTime":4284.04,"body":"see it unfashionable if they're"},{"speaker":"Andy Hart","startTime":4281.91,"endTime":4284.04,"body":"going up in a portfolio that and"},{"speaker":"Andy Hart","startTime":4284.04,"endTime":4286.8,"body":"investing illiterate would"},{"speaker":"Andy Hart","startTime":4284.04,"endTime":4286.8,"body":"naturally want to end up on"},{"speaker":"Andy Hart","startTime":4286.8,"endTime":4289.68,"body":"their own. So yeah, he sent his"},{"speaker":"Andy Hart","startTime":4286.8,"endTime":4289.68,"body":"Porter who said this mumbo"},{"speaker":"Andy Hart","startTime":4289.68,"endTime":4295.2,"body":"jumbo. Mom was right. Yeah, mama"},{"speaker":"Andy Hart","startTime":4289.68,"endTime":4295.2,"body":"said, back or this sort of like"},{"speaker":"Andy Hart","startTime":4295.23,"endTime":4298.17,"body":"tech thread, it is a bit"},{"speaker":"Andy Hart","startTime":4295.23,"endTime":4298.17,"body":"embarrassing. You say, Mom, you"},{"speaker":"Andy Hart","startTime":4298.17,"endTime":4300.33,"body":"know what I'm going to do? I'm"},{"speaker":"Andy Hart","startTime":4298.17,"endTime":4300.33,"body":"going to remove all your"},{"speaker":"Andy Hart","startTime":4300.33,"endTime":4303.09,"body":"financial sucks all your"},{"speaker":"Andy Hart","startTime":4300.33,"endTime":4303.09,"body":"financial stress, your investing"},{"speaker":"Andy Hart","startTime":4303.09,"endTime":4306.84,"body":"anxiety will take over your"},{"speaker":"Andy Hart","startTime":4303.09,"endTime":4306.84,"body":"portfolio. And the first job you"},{"speaker":"Andy Hart","startTime":4306.84,"endTime":4309.87,"body":"need to do is probably the worst"},{"speaker":"Andy Hart","startTime":4306.84,"endTime":4309.87,"body":"thing she's had to do that whole"},{"speaker":"Andy Hart","startTime":4309.87,"endTime":4313.8,"body":"year. You know, she just feels a"},{"speaker":"Andy Hart","startTime":4309.87,"endTime":4313.8,"body":"bit silly. She didn't quite"},{"speaker":"Andy Hart","startTime":4313.8,"endTime":4316.14,"body":"understand that she's out of a"},{"speaker":"Andy Hart","startTime":4313.8,"endTime":4316.14,"body":"depth. It's all just"},{"speaker":"Andy Hart","startTime":4316.14,"endTime":4317.34,"body":"complicated. And"},{"speaker":"Nick Lincoln","startTime":4318.48,"endTime":4320.58,"body":"normally"},{"speaker":"Nick Lincoln","startTime":4318.48,"endTime":4320.58,"body":"classified. You know, mother and"},{"speaker":"Nick Lincoln","startTime":4320.58,"endTime":4322.83,"body":"son. 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She"},{"speaker":"Alan Smith","startTime":4329.91,"endTime":4331.38,"body":"says something like, I don't"},{"speaker":"Alan Smith","startTime":4331.38,"endTime":4333.72,"body":"understand the question. It"},{"speaker":"Alan Smith","startTime":4331.38,"endTime":4333.72,"body":"doesn't it doesn't doesn't make"},{"speaker":"Alan Smith","startTime":4333.72,"endTime":4335.37,"body":"sense to me. Something like"},{"speaker":"Alan Smith","startTime":4333.72,"endTime":4335.37,"body":"that. Yeah,"},{"speaker":"Andy Hart","startTime":4335.37,"endTime":4336.93,"body":"it was it was"},{"speaker":"Andy Hart","startTime":4335.37,"endTime":4336.93,"body":"interesting. I mean, fairplay"},{"speaker":"Andy Hart","startTime":4336.93,"endTime":4339.96,"body":"for everybody because it because"},{"speaker":"Andy Hart","startTime":4336.93,"endTime":4339.96,"body":"he was basically saying ADRs are"},{"speaker":"Andy Hart","startTime":4339.96,"endTime":4342.9,"body":"a load of BS, but then I'm"},{"speaker":"Andy Hart","startTime":4339.96,"endTime":4342.9,"body":"taking on my mum at the moment,"},{"speaker":"Andy Hart","startTime":4342.9,"endTime":4345.87,"body":"and here's my mom's thoughts."},{"speaker":"Andy Hart","startTime":4342.9,"endTime":4345.87,"body":"It's like,"},{"speaker":"Nick Lincoln","startTime":4345.9,"endTime":4348.2699999999995,"body":"has been a bit of"},{"speaker":"Nick Lincoln","startTime":4345.9,"endTime":4348.2699999999995,"body":"a disconnect. It's a bit of a"},{"speaker":"Nick Lincoln","startTime":4348.2699999999995,"endTime":4353.19,"body":"disconnect. Okay, all right."},{"speaker":"Nick Lincoln","startTime":4348.2699999999995,"endTime":4353.19,"body":"Well, okay. It wasn't too rude"},{"speaker":"Nick Lincoln","startTime":4353.19,"endTime":4355.26,"body":"to you. I'm just being honest."},{"speaker":"Nick Lincoln","startTime":4353.19,"endTime":4355.26,"body":"Do you remember we're here or"},{"speaker":"Nick Lincoln","startTime":4355.26,"endTime":4358.11,"body":"are wrong? Yeah. Yeah,"},{"speaker":"Alan Smith","startTime":4358.14,"endTime":4362.25,"body":"just call. Jerry."},{"speaker":"Alan Smith","startTime":4358.14,"endTime":4362.25,"body":"Well, I would say do you have"},{"speaker":"Alan Smith","startTime":4362.25,"endTime":4363.18,"body":"any thoughts call?"},{"speaker":"Unknown","startTime":4366.75,"endTime":4368.82,"body":"I think you nailed it"},{"speaker":"Unknown","startTime":4366.75,"endTime":4368.82,"body":"there boys. And we should move"},{"speaker":"Unknown","startTime":4368.82,"endTime":4370.32,"body":"on. 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Let's move"},{"speaker":"Nick Lincoln","startTime":4421.14,"endTime":4423.0599999999995,"body":"on to the next stage of the"},{"speaker":"Nick Lincoln","startTime":4421.14,"endTime":4423.0599999999995,"body":"show. And that is of course"},{"speaker":"Nick Lincoln","startTime":4423.0599999999995,"endTime":4428.5199999999995,"body":"coverage and right, I shall lead"},{"speaker":"Nick Lincoln","startTime":4423.0599999999995,"endTime":4428.5199999999995,"body":"off with this one I mentioned at"},{"speaker":"Nick Lincoln","startTime":4428.5199999999995,"endTime":4431.0999999999995,"body":"the start of the show that meta"},{"speaker":"Nick Lincoln","startTime":4428.5199999999995,"endTime":4431.0999999999995,"body":"paying a dividend there's a"},{"speaker":"Nick Lincoln","startTime":4431.16,"endTime":4436.2,"body":"episode podcast rather sorry,"},{"speaker":"Nick Lincoln","startTime":4431.16,"endTime":4436.2,"body":"that you can download and listen"},{"speaker":"Nick Lincoln","startTime":4436.2,"endTime":4438.63,"body":"to that about the reemergence of"},{"speaker":"Nick Lincoln","startTime":4436.2,"endTime":4438.63,"body":"the importance of dividends"},{"speaker":"Nick Lincoln","startTime":4438.66,"endTime":4441.0599999999995,"body":"around the world. It's called"},{"speaker":"Nick Lincoln","startTime":4438.66,"endTime":4441.0599999999995,"body":"the unhedged podcast, it's an F"},{"speaker":"Nick Lincoln","startTime":4441.0599999999995,"endTime":4444.33,"body":"T branded. One, they're the"},{"speaker":"Nick Lincoln","startTime":4441.0599999999995,"endTime":4444.33,"body":"hosts are a little bit annoying."},{"speaker":"Nick Lincoln","startTime":4444.8099999999995,"endTime":4447.96,"body":"But it's only 17 minutes or so."},{"speaker":"Nick Lincoln","startTime":4444.8099999999995,"endTime":4447.96,"body":"And that episode, talks about"},{"speaker":"Nick Lincoln","startTime":4447.96,"endTime":4451.92,"body":"meta bringing in its dividend"},{"speaker":"Nick Lincoln","startTime":4447.96,"endTime":4451.92,"body":"and the implications and that"},{"speaker":"Nick Lincoln","startTime":4451.92,"endTime":4454.14,"body":"links into what Alan took talked"},{"speaker":"Nick Lincoln","startTime":4451.92,"endTime":4454.14,"body":"about with with value stocks,"},{"speaker":"Nick Lincoln","startTime":4454.14,"endTime":4457.5599999999995,"body":"and so forth as well. So give"},{"speaker":"Nick Lincoln","startTime":4454.14,"endTime":4457.5599999999995,"body":"that listen short, sharp, and"},{"speaker":"Nick Lincoln","startTime":4457.5599999999995,"endTime":4460.41,"body":"punchy, like my like my mother,"},{"speaker":"Nick Lincoln","startTime":4457.5599999999995,"endTime":4460.41,"body":"Mr. Smith,"},{"speaker":"Alan Smith","startTime":4461.34,"endTime":4464.88,"body":"to two quick things."},{"speaker":"Alan Smith","startTime":4461.34,"endTime":4464.88,"body":"I never thought I'd see the day"},{"speaker":"Alan Smith","startTime":4464.91,"endTime":4469.7699999999995,"body":"when Google wouldn't dominate"},{"speaker":"Alan Smith","startTime":4464.91,"endTime":4469.7699999999995,"body":"for search. There's an app or a"},{"speaker":"Alan Smith","startTime":4469.7699999999995,"endTime":4473.58,"body":"website called perplexity.ai,"},{"speaker":"Alan Smith","startTime":4469.7699999999995,"endTime":4473.58,"body":"which is just like Google on"},{"speaker":"Alan Smith","startTime":4473.58,"endTime":4477.18,"body":"steroids gives far better"},{"speaker":"Alan Smith","startTime":4473.58,"endTime":4477.18,"body":"responses far better answers,"},{"speaker":"Alan Smith","startTime":4477.72,"endTime":4480.72,"body":"and is definitely worth checking"},{"speaker":"Alan Smith","startTime":4477.72,"endTime":4480.72,"body":"out in this kind of new"},{"speaker":"Alan Smith","startTime":4480.72,"endTime":4482.79,"body":"revolution that we're going"},{"speaker":"Alan Smith","startTime":4480.72,"endTime":4482.79,"body":"through. That's the first thing"},{"speaker":"Alan Smith","startTime":4482.79,"endTime":4486.33,"body":"perplexity.ai also quick one,"},{"speaker":"Alan Smith","startTime":4482.79,"endTime":4486.33,"body":"I'll just throw into the web."},{"speaker":"Alan Smith","startTime":4486.33,"endTime":4488.55,"body":"And we must have mentioned"},{"speaker":"Alan Smith","startTime":4486.33,"endTime":4488.55,"body":"before the famous Michael"},{"speaker":"Alan Smith","startTime":4488.55,"endTime":4491.3099999999995,"body":"Kitces. When it gets his blog,"},{"speaker":"Alan Smith","startTime":4488.55,"endTime":4491.3099999999995,"body":"there's an article which has"},{"speaker":"Alan Smith","startTime":4491.3099999999995,"endTime":4493.44,"body":"been out for quite a while, but"},{"speaker":"Alan Smith","startTime":4491.3099999999995,"endTime":4493.44,"body":"I'll post a link in the show"},{"speaker":"Alan Smith","startTime":4493.44,"endTime":4498.0,"body":"notes too. I just thought it was"},{"speaker":"Alan Smith","startTime":4493.44,"endTime":4498.0,"body":"excellent. It is all about the"},{"speaker":"Alan Smith","startTime":4498.36,"endTime":4501.51,"body":"just kind of focusing your"},{"speaker":"Alan Smith","startTime":4498.36,"endTime":4501.51,"body":"process of bringing value to a"},{"speaker":"Alan Smith","startTime":4501.51,"endTime":4504.84,"body":"prospective client very early"},{"speaker":"Alan Smith","startTime":4501.51,"endTime":4504.84,"body":"on, because all our business"},{"speaker":"Alan Smith","startTime":4504.84,"endTime":4507.75,"body":"relationships are about trust."},{"speaker":"Alan Smith","startTime":4504.84,"endTime":4507.75,"body":"How would you how would you sort"},{"speaker":"Alan Smith","startTime":4507.75,"endTime":4510.99,"body":"of how do you deliver trust to"},{"speaker":"Alan Smith","startTime":4507.75,"endTime":4510.99,"body":"new prospective client early on"},{"speaker":"Alan Smith","startTime":4510.99,"endTime":4514.0199999999995,"body":"in the stage and it was just a"},{"speaker":"Alan Smith","startTime":4510.99,"endTime":4514.0199999999995,"body":"just a very well written"},{"speaker":"Alan Smith","startTime":4514.0199999999995,"endTime":4516.66,"body":"article, which is worth or five"},{"speaker":"Alan Smith","startTime":4514.0199999999995,"endTime":4516.66,"body":"minutes of your time to read"},{"speaker":"Alan Smith","startTime":4516.66,"endTime":4520.11,"body":"through and there was examples"},{"speaker":"Alan Smith","startTime":4516.66,"endTime":4520.11,"body":"given in sort of various things"},{"speaker":"Alan Smith","startTime":4520.11,"endTime":4523.86,"body":"that you can sort of clip or"},{"speaker":"Alan Smith","startTime":4520.11,"endTime":4523.86,"body":"download. So Kitces Michael gets"},{"speaker":"Alan Smith","startTime":4523.86,"endTime":4526.3499999999995,"body":"his blog. Very good. Thank you"},{"speaker":"Alan Smith","startTime":4523.86,"endTime":4526.3499999999995,"body":"very much."},{"speaker":"Nick Lincoln","startTime":4527.22,"endTime":4528.75,"body":"Superb, Andrew."},{"speaker":"Andy Hart","startTime":4529.83,"endTime":4533.0999999999995,"body":"This one might"},{"speaker":"Andy Hart","startTime":4529.83,"endTime":4533.0999999999995,"body":"outshine the IKEA wardrobe so"},{"speaker":"Andy Hart","startTime":4533.13,"endTime":4537.12,"body":"bear with me first, I use the"},{"speaker":"Andy Hart","startTime":4533.13,"endTime":4537.12,"body":"food service called pots of"},{"speaker":"Andy Hart","startTime":4537.12,"endTime":4540.48,"body":"gold. The web is my GSN."},{"speaker":"Andy Hart","startTime":4549.42,"endTime":4553.74,"body":"Okay, this is a microwave"},{"speaker":"Andy Hart","startTime":4549.42,"endTime":4553.74,"body":"straight from the freezer ready"},{"speaker":"Andy Hart","startTime":4553.74,"endTime":4558.15,"body":"meal recommendation. Busy"},{"speaker":"Andy Hart","startTime":4553.74,"endTime":4558.15,"body":"financial professionals"},{"speaker":"Andy Hart","startTime":4558.15,"endTime":4562.2,"body":"listening to this the website is"},{"speaker":"Andy Hart","startTime":4558.15,"endTime":4562.2,"body":"called pots of gold. Sorry, pots"},{"speaker":"Andy Hart","startTime":4562.2,"endTime":4565.14,"body":"of gold. The website is my"},{"speaker":"Andy Hart","startTime":4562.2,"endTime":4565.14,"body":"gsn.co. UK. It's a link in the"},{"speaker":"Andy Hart","startTime":4565.14,"endTime":4567.66,"body":"show notes, do a Google search."},{"speaker":"Andy Hart","startTime":4565.14,"endTime":4567.66,"body":"They're freaking brilliant. You"},{"speaker":"Andy Hart","startTime":4567.66,"endTime":4570.57,"body":"buy about 10 or 20 at a time"},{"speaker":"Andy Hart","startTime":4567.66,"endTime":4570.57,"body":"that cost about three four"},{"speaker":"Andy Hart","startTime":4570.8099999999995,"endTime":4573.96,"body":"pounds, and they're brilliant."},{"speaker":"Andy Hart","startTime":4570.8099999999995,"endTime":4573.96,"body":"Alan your wife's a big fan of"},{"speaker":"Andy Hart","startTime":4573.96,"endTime":4574.86,"body":"the so back me up"},{"speaker":"Alan Smith","startTime":4576.12,"endTime":4579.69,"body":"I'm gonna say the"},{"speaker":"Alan Smith","startTime":4576.12,"endTime":4579.69,"body":"perfect meal for the Bachelor or"},{"speaker":"Alan Smith","startTime":4579.69,"endTime":4581.8499999999995,"body":"the sex successfully divorced"},{"speaker":"Andy Hart","startTime":4584.5199999999995,"endTime":4586.41,"body":"then you're not"},{"speaker":"Andy Hart","startTime":4584.5199999999995,"endTime":4586.41,"body":"actually know my wife's a big"},{"speaker":"Andy Hart","startTime":4586.41,"endTime":4593.04,"body":"fan of these previous point yeah"},{"speaker":"Andy Hart","startTime":4586.41,"endTime":4593.04,"body":"very healthy simple and nice"},{"speaker":"Andy Hart","startTime":4593.07,"endTime":4593.5199999999995,"body":"honestly."},{"speaker":"Alan Smith","startTime":4593.8499999999995,"endTime":4595.83,"body":"You're you're"},{"speaker":"Alan Smith","startTime":4593.8499999999995,"endTime":4595.83,"body":"building a trapeze lifestyle"},{"speaker":"Alan Smith","startTime":4595.83,"endTime":4597.78,"body":"aren't you first get the IKEA"},{"speaker":"Alan Smith","startTime":4595.83,"endTime":4597.78,"body":"wardrobe"},{"speaker":"Andy Hart","startTime":4598.5,"endTime":4603.87,"body":"get get I'm actually"},{"speaker":"Andy Hart","startTime":4598.5,"endTime":4603.87,"body":"gonna have one of the curries"},{"speaker":"Andy Hart","startTime":4603.87,"endTime":4607.47,"body":"after this call. Is it my mouth"},{"speaker":"Andy Hart","startTime":4603.87,"endTime":4607.47,"body":"now we've got I've got the got"},{"speaker":"Andy Hart","startTime":4607.47,"endTime":4609.78,"body":"the flavor. Jacket is it"},{"speaker":"Alan Smith","startTime":4609.8099999999995,"endTime":4612.24,"body":"is it is it like"},{"speaker":"Alan Smith","startTime":4609.8099999999995,"endTime":4612.24,"body":"your Tesla? Is it more? Is it"},{"speaker":"Alan Smith","startTime":4612.24,"endTime":4617.25,"body":"more of a friend meal deal with"},{"speaker":"Alan Smith","startTime":4612.24,"endTime":4617.25,"body":"a friend than a potluck?"},{"speaker":"Nick Lincoln","startTime":4617.73,"endTime":4619.98,"body":"Which part this is"},{"speaker":"Nick Lincoln","startTime":4617.73,"endTime":4619.98,"body":"the sleep coach. I've lost track"},{"speaker":"Nick Lincoln","startTime":4619.98,"endTime":4621.75,"body":"of your sleep coach."},{"speaker":"Andy Hart","startTime":4623.55,"endTime":4626.94,"body":"You've got no sleep"},{"speaker":"Andy Hart","startTime":4623.55,"endTime":4626.94,"body":"Coach Nick, you said I shared an"},{"speaker":"Andy Hart","startTime":4626.94,"endTime":4628.29,"body":"image on our group"},{"speaker":"Nick Lincoln","startTime":4628.29,"endTime":4629.73,"body":"that I wasn't I"},{"speaker":"Nick Lincoln","startTime":4628.29,"endTime":4629.73,"body":"was in"},{"speaker":"Andy Hart","startTime":4631.5599999999995,"endTime":4633.2699999999995,"body":"tracking your sleep"},{"speaker":"Andy Hart","startTime":4631.5599999999995,"endTime":4633.2699999999995,"body":"now following on"},{"speaker":"Nick Lincoln","startTime":4635.64,"endTime":4637.86,"body":"my watch at night"},{"speaker":"Nick Lincoln","startTime":4635.64,"endTime":4637.86,"body":"but I was I was out at someone"},{"speaker":"Nick Lincoln","startTime":4637.86,"endTime":4640.47,"body":"else's house and I wore it and I"},{"speaker":"Nick Lincoln","startTime":4637.86,"endTime":4640.47,"body":"just saw I had five hours sleep"},{"speaker":"Nick Lincoln","startTime":4640.47,"endTime":4646.74,"body":"and then met Smithy. They share"},{"speaker":"Nick Lincoln","startTime":4640.47,"endTime":4646.74,"body":"his talk just about perplexity"},{"speaker":"Nick Lincoln","startTime":4646.74,"endTime":4649.92,"body":"Ayane and your thing I mean,"},{"speaker":"Nick Lincoln","startTime":4646.74,"endTime":4649.92,"body":"Jesus Christ Google talking"},{"speaker":"Nick Lincoln","startTime":4649.92,"endTime":4653.5199999999995,"body":"about disaster in Gemini just oh"},{"speaker":"Nick Lincoln","startTime":4649.92,"endTime":4653.5199999999995,"body":"and that's what an absolute but"},{"speaker":"Nick Lincoln","startTime":4653.5199999999995,"endTime":4658.32,"body":"interesting has revealed the lid"},{"speaker":"Nick Lincoln","startTime":4653.5199999999995,"endTime":4658.32,"body":"on on the progressive Yeah. I"},{"speaker":"Nick Lincoln","startTime":4658.32,"endTime":4660.9,"body":"don't know evil that's"},{"speaker":"Nick Lincoln","startTime":4658.32,"endTime":4660.9,"body":"perpetrated these two this rune"},{"speaker":"Nick Lincoln","startTime":4660.9,"endTime":4663.12,"body":"call. I mean, it's just one of"},{"speaker":"Nick Lincoln","startTime":4660.9,"endTime":4663.12,"body":"the disastrous laundry."},{"speaker":"Nick Lincoln","startTime":4663.2699999999995,"endTime":4665.34,"body":"Obviously Google is not going to"},{"speaker":"Nick Lincoln","startTime":4663.2699999999995,"endTime":4665.34,"body":"fall off the face of the earth"},{"speaker":"Nick Lincoln","startTime":4665.34,"endTime":4670.38,"body":"but Christ on mighty what? What"},{"speaker":"Nick Lincoln","startTime":4665.34,"endTime":4670.38,"body":"a catastrophe. Yeah, following"},{"speaker":"Andy Hart","startTime":4670.38,"endTime":4672.93,"body":"on from the"},{"speaker":"Andy Hart","startTime":4670.38,"endTime":4672.93,"body":"perplexity recommendation from"},{"speaker":"Andy Hart","startTime":4672.96,"endTime":4676.47,"body":"Alan, there is a freakanomics"},{"speaker":"Andy Hart","startTime":4672.96,"endTime":4676.47,"body":"latest podcast that talks about"},{"speaker":"Andy Hart","startTime":4676.5,"endTime":4679.44,"body":"Google's dominance in search and"},{"speaker":"Andy Hart","startTime":4676.5,"endTime":4679.44,"body":"perplexity of featured in it if"},{"speaker":"Andy Hart","startTime":4679.44,"endTime":4680.94,"body":"anyone's really interested in"},{"speaker":"Andy Hart","startTime":4679.44,"endTime":4680.94,"body":"this stuff."},{"speaker":"Nick Lincoln","startTime":4681.69,"endTime":4684.5999999999995,"body":"All right, good"},{"speaker":"Nick Lincoln","startTime":4681.69,"endTime":4684.5999999999995,"body":"stuff. Voice"},{"speaker":"Unknown","startTime":4685.7699999999995,"endTime":4688.32,"body":"while we sleep, Matthew"},{"speaker":"Unknown","startTime":4685.7699999999995,"endTime":4688.32,"body":"Walker gave it as a present to"},{"speaker":"Unknown","startTime":4688.32,"endTime":4691.65,"body":"somebody recently, and I kind of"},{"speaker":"Unknown","startTime":4688.32,"endTime":4691.65,"body":"went, I actually probably should"},{"speaker":"Unknown","startTime":4691.65,"endTime":4694.59,"body":"look back at this or listen back"},{"speaker":"Unknown","startTime":4691.65,"endTime":4694.59,"body":"to this book again. It is"},{"speaker":"Unknown","startTime":4694.59,"endTime":4698.91,"body":"absolutely brilliant. So if"},{"speaker":"Unknown","startTime":4694.59,"endTime":4698.91,"body":"you're struggling a small bit at"},{"speaker":"Unknown","startTime":4698.91,"endTime":4704.64,"body":"all with insomnia or any such"},{"speaker":"Unknown","startTime":4698.91,"endTime":4704.64,"body":"thing. Go and listen to that"},{"speaker":"Unknown","startTime":4704.64,"endTime":4706.29,"body":"book, or storyteller"},{"speaker":"Andy Hart","startTime":4706.29,"endTime":4708.69,"body":"read it a couple of"},{"speaker":"Andy Hart","startTime":4706.29,"endTime":4708.69,"body":"years ago, didn't we? Yep. Yeah."},{"speaker":"Andy Hart","startTime":4709.17,"endTime":4710.22,"body":"Excellent. Good. Yeah. A"},{"speaker":"Nick Lincoln","startTime":4711.72,"endTime":4712.47,"body":"couple years ago,"},{"speaker":"Alan Smith","startTime":4712.92,"endTime":4716.19,"body":"you'll realize it's"},{"speaker":"Alan Smith","startTime":4712.92,"endTime":4716.19,"body":"that sleep is the foundation"},{"speaker":"Alan Smith","startTime":4716.19,"endTime":4719.49,"body":"everything else you go to the"},{"speaker":"Alan Smith","startTime":4716.19,"endTime":4719.49,"body":"gym 10 times a day or what? Eat"},{"speaker":"Alan Smith","startTime":4719.49,"endTime":4722.76,"body":"healthily less. You're getting"},{"speaker":"Alan Smith","startTime":4719.49,"endTime":4722.76,"body":"decent sleep. You're screwed"},{"speaker":"Alan Smith","startTime":4722.76,"endTime":4726.72,"body":"long, long term. Yeah. The"},{"speaker":"Alan Smith","startTime":4722.76,"endTime":4726.72,"body":"highest sleep coach digital"},{"speaker":"Alan Smith","startTime":4726.72,"endTime":4729.57,"body":"sleep coach, digital sleep"},{"speaker":"Alan Smith","startTime":4726.72,"endTime":4729.57,"body":"coach. Yeah, yeah, it's great"},{"speaker":"Alan Smith","startTime":4729.57,"endTime":4732.15,"body":"book Great book worth watching"},{"speaker":"Alan Smith","startTime":4729.57,"endTime":4732.15,"body":"or listening or reading"},{"speaker":"Alan Smith","startTime":4732.21,"endTime":4733.14,"body":"cauliflower cheese."},{"speaker":"Nick Lincoln","startTime":4733.14,"endTime":4734.58,"body":"Cauliflower."},{"speaker":"Nick Lincoln","startTime":4733.14,"endTime":4734.58,"body":"Cheese is the enemy of a good"},{"speaker":"Nick Lincoln","startTime":4734.58,"endTime":4736.5,"body":"night's sleep is tasty when"},{"speaker":"Nick Lincoln","startTime":4734.58,"endTime":4736.5,"body":"you're eating it, but it has"},{"speaker":"Nick Lincoln","startTime":4736.5,"endTime":4739.26,"body":"repercussions later on. I can"},{"speaker":"Nick Lincoln","startTime":4736.5,"endTime":4739.26,"body":"vouch for that cauliflower"},{"speaker":"Nick Lincoln","startTime":4739.26,"endTime":4739.86,"body":"cheese yesterday."},{"speaker":"Andy Hart","startTime":4741.57,"endTime":4744.51,"body":"Not the six bottles"},{"speaker":"Andy Hart","startTime":4741.57,"endTime":4744.51,"body":"of red wine. You're blaming the"},{"speaker":"Andy Hart","startTime":4744.51,"endTime":4745.44,"body":"frickin cheese."},{"speaker":"Unknown","startTime":4746.46,"endTime":4749.49,"body":"Cauliflower Jews. Yeah,"},{"speaker":"Nick Lincoln","startTime":4749.55,"endTime":4752.0999999999995,"body":"I'm sticking to my"},{"speaker":"Nick Lincoln","startTime":4749.55,"endTime":4752.0999999999995,"body":"store a lot. And I wouldn't, I"},{"speaker":"Nick Lincoln","startTime":4752.0999999999995,"endTime":4755.37,"body":"wouldn't change. Okay, Trappist."},{"speaker":"Nick Lincoln","startTime":4752.0999999999995,"endTime":4755.37,"body":"I think that's a wrap of this"},{"speaker":"Nick Lincoln","startTime":4755.37,"endTime":4758.28,"body":"episode. One hour, one hour, 20"},{"speaker":"Nick Lincoln","startTime":4755.37,"endTime":4758.28,"body":"minutes in, give or take that's"},{"speaker":"Nick Lincoln","startTime":4758.61,"endTime":4760.65,"body":"we've emptied our vows and the"},{"speaker":"Nick Lincoln","startTime":4758.61,"endTime":4760.65,"body":"latest part of the trap is"},{"speaker":"Nick Lincoln","startTime":4760.65,"endTime":4763.2,"body":"flushed down the Ube end of"},{"speaker":"Nick Lincoln","startTime":4760.65,"endTime":4763.2,"body":"time. Thank you, dear travelers"},{"speaker":"Nick Lincoln","startTime":4763.2,"endTime":4766.38,"body":"for your precious time and your"},{"speaker":"Nick Lincoln","startTime":4763.2,"endTime":4766.38,"body":"input into the show. Please do"},{"speaker":"Nick Lincoln","startTime":4766.38,"endTime":4769.41,"body":"subscribe to the podcast on your"},{"speaker":"Nick Lincoln","startTime":4766.38,"endTime":4769.41,"body":"podcast app of choice that way"},{"speaker":"Nick Lincoln","startTime":4769.41,"endTime":4773.4,"body":"it lands freshly baked on your"},{"speaker":"Nick Lincoln","startTime":4769.41,"endTime":4773.4,"body":"phone every other Thursday at"},{"speaker":"Nick Lincoln","startTime":4773.4,"endTime":4776.3099999999995,"body":"1am and do likewise with our"},{"speaker":"Nick Lincoln","startTime":4773.4,"endTime":4776.3099999999995,"body":"YouTube channel. Please like and"},{"speaker":"Nick Lincoln","startTime":4776.3099999999995,"endTime":4778.65,"body":"subscribe for that. Click the"},{"speaker":"Nick Lincoln","startTime":4776.3099999999995,"endTime":4778.65,"body":"bell leave"},{"speaker":"Andy Hart","startTime":4778.65,"endTime":4781.5599999999995,"body":"reviews on the Apple"},{"speaker":"Andy Hart","startTime":4778.65,"endTime":4781.5599999999995,"body":"podcast if you haven't already."},{"speaker":"Andy Hart","startTime":4781.5599999999995,"endTime":4785.67,"body":"We're a bit light for 2024 We're"},{"speaker":"Andy Hart","startTime":4781.5599999999995,"endTime":4785.67,"body":"thinking we're going to run out."},{"speaker":"Nick Lincoln","startTime":4787.53,"endTime":4790.26,"body":"We need to be told"},{"speaker":"Nick Lincoln","startTime":4787.53,"endTime":4790.26,"body":"continually how great we are."},{"speaker":"Andy Hart","startTime":4790.44,"endTime":4792.15,"body":"We need a shot in the"},{"speaker":"Andy Hart","startTime":4790.44,"endTime":4792.15,"body":"arm people"},{"speaker":"Nick Lincoln","startTime":4792.21,"endTime":4794.46,"body":"or something. All"},{"speaker":"Nick Lincoln","startTime":4792.21,"endTime":4794.46,"body":"right. All right, gentlemen."},{"speaker":"Alan Smith","startTime":4794.97,"endTime":4798.2699999999995,"body":"Get your tickets to"},{"speaker":"Alan Smith","startTime":4794.97,"endTime":4798.2699999999995,"body":"trap live it will sell out"},{"speaker":"Alan Smith","startTime":4798.3,"endTime":4799.92,"body":"pretty soon. Get your tickets."},{"speaker":"Unknown","startTime":4799.98,"endTime":4804.33,"body":"Hello dear Trappist."},{"speaker":"Unknown","startTime":4799.98,"endTime":4804.33,"body":"This is to details including a"},{"speaker":"Unknown","startTime":4804.33,"endTime":4808.05,"body":"link to the purchase tickets."},{"speaker":"Unknown","startTime":4804.33,"endTime":4808.05,"body":"Fuck"},{"speaker":"Nick Lincoln","startTime":4811.47,"endTime":4820.53,"body":"let's go take"},{"speaker":"Nick Lincoln","startTime":4811.47,"endTime":4820.53,"body":"care. Bye bye hi"}]}