{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":12.48,"endTime":17.52,"body":"Welcome to The Real"},{"speaker":"Unknown","startTime":12.48,"endTime":17.52,"body":"advisor podcast, t r a p twerp"},{"speaker":"Unknown","startTime":17.91,"endTime":21.12,"body":"please follow us and join in the"},{"speaker":"Unknown","startTime":17.91,"endTime":21.12,"body":"conversation on Twitter at"},{"speaker":"Unknown","startTime":21.12,"endTime":24.87,"body":"advisor podcast where you can"},{"speaker":"Unknown","startTime":21.12,"endTime":24.87,"body":"suggest ideas and themes you'd"},{"speaker":"Unknown","startTime":24.87,"endTime":28.32,"body":"like the track team to discuss."},{"speaker":"Unknown","startTime":24.87,"endTime":28.32,"body":"Also remember to like and"},{"speaker":"Unknown","startTime":28.32,"endTime":31.98,"body":"subscribe to our YouTube channel"},{"speaker":"Unknown","startTime":28.32,"endTime":31.98,"body":"and leave a six out of five star"},{"speaker":"Unknown","startTime":31.98,"endTime":35.91,"body":"review on iTunes. Doing all this"},{"speaker":"Unknown","startTime":31.98,"endTime":35.91,"body":"really, really helps us which"},{"speaker":"Unknown","startTime":35.91,"endTime":39.39,"body":"means we can do more to help"},{"speaker":"Unknown","startTime":35.91,"endTime":39.39,"body":"you. Now let's head over to the"},{"speaker":"Unknown","startTime":39.39,"endTime":41.67,"body":"studio for the latest pilot"},{"speaker":"Unknown","startTime":39.39,"endTime":41.67,"body":"trap."},{"speaker":"Nick Lincoln","startTime":47.79,"endTime":50.31,"body":"Yes, indeed, dear"},{"speaker":"Nick Lincoln","startTime":47.79,"endTime":50.31,"body":"Travis, welcome back to what"},{"speaker":"Nick Lincoln","startTime":50.31,"endTime":54.27,"body":"many people are calling episode"},{"speaker":"Nick Lincoln","startTime":50.31,"endTime":54.27,"body":"42 of the real advisor podcast"},{"speaker":"Nick Lincoln","startTime":54.69,"endTime":58.35,"body":"EP trap. My name is Lincoln"},{"speaker":"Nick Lincoln","startTime":54.69,"endTime":58.35,"body":"Lincoln and joining me as ever,"},{"speaker":"Nick Lincoln","startTime":58.74,"endTime":62.07,"body":"in the digital studio of doom"},{"speaker":"Nick Lincoln","startTime":58.74,"endTime":62.07,"body":"are the three other Horsemen of"},{"speaker":"Nick Lincoln","startTime":62.07,"endTime":67.56,"body":"the Apocalypse. And the hearts"},{"speaker":"Nick Lincoln","startTime":62.07,"endTime":67.56,"body":"called deliver che the voice"},{"speaker":"Nick Lincoln","startTime":67.56,"endTime":72.96,"body":"switcher. Hello, Alan absolutely"},{"speaker":"Nick Lincoln","startTime":67.56,"endTime":72.96,"body":"brimming to the to the rim with"},{"speaker":"Nick Lincoln","startTime":72.96,"endTime":76.8,"body":"stories Smith. Now gentlemen, we"},{"speaker":"Nick Lincoln","startTime":72.96,"endTime":76.8,"body":"have a show packed full of app"},{"speaker":"Nick Lincoln","startTime":78.45,"endTime":81.69,"body":"salutely nothing so let's start"},{"speaker":"Nick Lincoln","startTime":78.45,"endTime":81.69,"body":"packing it straightaway. With"},{"speaker":"Nick Lincoln","startTime":81.69,"endTime":84.48,"body":"some more high energy review"},{"speaker":"Nick Lincoln","startTime":81.69,"endTime":84.48,"body":"reads read out on my good friend"},{"speaker":"Nick Lincoln","startTime":84.48,"endTime":87.09,"body":"the Right Honourable Mr. Andrew"},{"speaker":"Nick Lincoln","startTime":84.48,"endTime":87.09,"body":"Hart. Thank"},{"speaker":"Andy Hart","startTime":87.09,"endTime":89.85,"body":"you Nick. Okay, so"},{"speaker":"Andy Hart","startTime":87.09,"endTime":89.85,"body":"first up is a review from Sean"},{"speaker":"Andy Hart","startTime":89.85,"endTime":93.63,"body":"lowson. entitled A must listen"},{"speaker":"Andy Hart","startTime":89.85,"endTime":93.63,"body":"for ifs five stars brilliant"},{"speaker":"Andy Hart","startTime":93.63,"endTime":96.21,"body":"podcast, especially for those"},{"speaker":"Andy Hart","startTime":93.63,"endTime":96.21,"body":"relatively new professionals"},{"speaker":"Andy Hart","startTime":96.21,"endTime":99.9,"body":"such as myself. The host always"},{"speaker":"Andy Hart","startTime":96.21,"endTime":99.9,"body":"cut through any nonsense in the"},{"speaker":"Andy Hart","startTime":99.9,"endTime":102.39,"body":"profession and make good points"},{"speaker":"Andy Hart","startTime":99.9,"endTime":102.39,"body":"based on solid facts and"},{"speaker":"Andy Hart","startTime":102.39,"endTime":106.08,"body":"examples. I must listen for any"},{"speaker":"Andy Hart","startTime":102.39,"endTime":106.08,"body":"IFA six out of five stars Sean"},{"speaker":"Andy Hart","startTime":106.08,"endTime":110.13,"body":"Lowe, some of Waverton wealth in"},{"speaker":"Andy Hart","startTime":106.08,"endTime":110.13,"body":"Edinburgh. final review from"},{"speaker":"Andy Hart","startTime":110.13,"endTime":114.09,"body":"Paul Bradley slightly longer"},{"speaker":"Andy Hart","startTime":110.13,"endTime":114.09,"body":"this one great value, adding"},{"speaker":"Andy Hart","startTime":114.09,"endTime":120.84,"body":"show from for great value adding"},{"speaker":"Andy Hart","startTime":114.09,"endTime":120.84,"body":"show for for clearly great"},{"speaker":"Andy Hart","startTime":120.84,"endTime":123.6,"body":"financial advisors and great"},{"speaker":"Andy Hart","startTime":120.84,"endTime":123.6,"body":"friends. So this is a review"},{"speaker":"Andy Hart","startTime":123.6,"endTime":127.62,"body":"from Paul Bradley at Chilton"},{"speaker":"Andy Hart","startTime":123.6,"endTime":127.62,"body":"Hills financial planning. He's"},{"speaker":"Andy Hart","startTime":127.62,"endTime":129.42,"body":"been asked many times by his"},{"speaker":"Andy Hart","startTime":127.62,"endTime":129.42,"body":"colleagues if he listens his"},{"speaker":"Andy Hart","startTime":129.42,"endTime":132.36,"body":"trap, the answer is always a"},{"speaker":"Andy Hart","startTime":129.42,"endTime":132.36,"body":"resounding yes. This is a high"},{"speaker":"Andy Hart","startTime":132.36,"endTime":135.96,"body":"quality conversation for real"},{"speaker":"Andy Hart","startTime":132.36,"endTime":135.96,"body":"financial planners who are not"},{"speaker":"Andy Hart","startTime":135.96,"endTime":139.2,"body":"only at the top of their game,"},{"speaker":"Andy Hart","startTime":135.96,"endTime":139.2,"body":"but also clearly great friends."},{"speaker":"Andy Hart","startTime":139.59,"endTime":143.34,"body":"And he adds so much to the"},{"speaker":"Andy Hart","startTime":139.59,"endTime":143.34,"body":"profession content podcasts"},{"speaker":"Andy Hart","startTime":143.34,"endTime":146.4,"body":"training conferences, Alan is"},{"speaker":"Andy Hart","startTime":143.34,"endTime":146.4,"body":"one of the best financial"},{"speaker":"Andy Hart","startTime":146.4,"endTime":151.11,"body":"services content creators I've"},{"speaker":"Andy Hart","startTime":146.4,"endTime":151.11,"body":"ever heard. Nick says something"},{"speaker":"Andy Hart","startTime":151.14,"endTime":157.14,"body":"Nick says something I didn't"},{"speaker":"Andy Hart","startTime":151.14,"endTime":157.14,"body":"think was smart. don't quite get"},{"speaker":"Andy Hart","startTime":157.14,"endTime":160.92,"body":"that call the voice call the"},{"speaker":"Andy Hart","startTime":157.14,"endTime":160.92,"body":"voice comes across as everything"},{"speaker":"Andy Hart","startTime":160.92,"endTime":162.93,"body":"that's good about Ireland. The"},{"speaker":"Andy Hart","startTime":160.92,"endTime":162.93,"body":"best part of the show is the"},{"speaker":"Andy Hart","startTime":162.93,"endTime":167.61,"body":"edgy banter that you get between"},{"speaker":"Andy Hart","startTime":162.93,"endTime":167.61,"body":"friends and the ability to laugh"},{"speaker":"Andy Hart","startTime":167.61,"endTime":170.28,"body":"with and at each other central"},{"speaker":"Andy Hart","startTime":167.61,"endTime":170.28,"body":"listening for any financial"},{"speaker":"Andy Hart","startTime":170.28,"endTime":173.22,"body":"planners or would be financial"},{"speaker":"Andy Hart","startTime":170.28,"endTime":173.22,"body":"planners. Sorry, sometimes the"},{"speaker":"Andy Hart","startTime":173.22,"endTime":175.23,"body":"grammar in these reviews is"},{"speaker":"Andy Hart","startTime":173.22,"endTime":175.23,"body":"horrendous. So that was"},{"speaker":"Nick Lincoln","startTime":177.48,"endTime":181.14,"body":"that we got"},{"speaker":"Nick Lincoln","startTime":177.48,"endTime":181.14,"body":"through them and nobody noticed"},{"speaker":"Nick Lincoln","startTime":181.17,"endTime":184.5,"body":"nobody. Yeah, thank you. Great."},{"speaker":"Nick Lincoln","startTime":181.17,"endTime":184.5,"body":"Thank you very much for reviews."},{"speaker":"Nick Lincoln","startTime":184.92,"endTime":187.23,"body":"Thank you for those they live in"},{"speaker":"Nick Lincoln","startTime":184.92,"endTime":187.23,"body":"Las Vegas, please do keep them"},{"speaker":"Nick Lincoln","startTime":187.23,"endTime":190.71,"body":"coming. We all get five stars on"},{"speaker":"Nick Lincoln","startTime":187.23,"endTime":190.71,"body":"iTunes, like and subscribe to us"},{"speaker":"Nick Lincoln","startTime":190.71,"endTime":192.57,"body":"on YouTube. If you can stop"},{"speaker":"Nick Lincoln","startTime":190.71,"endTime":192.57,"body":"talking under me. That'd be"},{"speaker":"Nick Lincoln","startTime":192.57,"endTime":194.34,"body":"great. We're only a minute and"},{"speaker":"Nick Lincoln","startTime":192.57,"endTime":194.34,"body":"I'm gonna kill some of these"},{"speaker":"Nick Lincoln","startTime":194.34,"endTime":198.66,"body":"short topical tidbits. Now,"},{"speaker":"Nick Lincoln","startTime":194.34,"endTime":198.66,"body":"Alan, I know you're starting up"},{"speaker":"Nick Lincoln","startTime":198.66,"endTime":201.39,"body":"a separate podcast holiday"},{"speaker":"Nick Lincoln","startTime":198.66,"endTime":201.39,"body":"recollections. But for the"},{"speaker":"Nick Lincoln","startTime":201.39,"endTime":204.15,"body":"moment, crack on and tell us"},{"speaker":"Nick Lincoln","startTime":201.39,"endTime":204.15,"body":"your recent adventure."},{"speaker":"Alan Smith","startTime":205.56,"endTime":209.76,"body":"Pour yourself a"},{"speaker":"Alan Smith","startTime":205.56,"endTime":209.76,"body":"drink a very long drink. I've"},{"speaker":"Alan Smith","startTime":210.57,"endTime":213.72,"body":"I've been anyway, I've been told"},{"speaker":"Alan Smith","startTime":210.57,"endTime":213.72,"body":"to be very brief about this"},{"speaker":"Alan Smith","startTime":213.72,"endTime":217.8,"body":"switch. So I will be as we"},{"speaker":"Alan Smith","startTime":213.72,"endTime":217.8,"body":"mentioned in the last episode, I"},{"speaker":"Alan Smith","startTime":217.8,"endTime":222.63,"body":"set off an adventure to call the"},{"speaker":"Alan Smith","startTime":217.8,"endTime":222.63,"body":"Arctic Circle rat race which is"},{"speaker":"Alan Smith","startTime":222.63,"endTime":226.17,"body":"long story short, you fly from"},{"speaker":"Alan Smith","startTime":222.63,"endTime":226.17,"body":"London to Tromso, Northern"},{"speaker":"Alan Smith","startTime":226.17,"endTime":230.07,"body":"Norway, you then get an A coach"},{"speaker":"Alan Smith","startTime":226.17,"endTime":230.07,"body":"and drive three hours north of"},{"speaker":"Alan Smith","startTime":230.07,"endTime":235.2,"body":"that into Finland. And then you"},{"speaker":"Alan Smith","startTime":230.07,"endTime":235.2,"body":"begin a what is effectively a"},{"speaker":"Alan Smith","startTime":235.2,"endTime":239.55,"body":"three day adventure crossing"},{"speaker":"Alan Smith","startTime":235.2,"endTime":239.55,"body":"this snow and doing about 80"},{"speaker":"Alan Smith","startTime":239.55,"endTime":243.45,"body":"kilometers on foot day one is by"},{"speaker":"Alan Smith","startTime":239.55,"endTime":243.45,"body":"something called a fat bike"},{"speaker":"Alan Smith","startTime":243.45,"endTime":247.08,"body":"which I've never been on before"},{"speaker":"Alan Smith","startTime":243.45,"endTime":247.08,"body":"supposedly designed to cycle"},{"speaker":"Alan Smith","startTime":247.08,"endTime":251.64,"body":"across snow. Well it doesn't. It"},{"speaker":"Alan Smith","startTime":247.08,"endTime":251.64,"body":"gives us nose to thick and the"},{"speaker":"Alan Smith","startTime":251.64,"endTime":255.03,"body":"bike weighs a tiny wind up"},{"speaker":"Alan Smith","startTime":251.64,"endTime":255.03,"body":"pushing it up snow and through"},{"speaker":"Alan Smith","startTime":255.03,"endTime":259.32,"body":"the wind for for a long, long,"},{"speaker":"Alan Smith","startTime":255.03,"endTime":259.32,"body":"long time. That was tough. Day"},{"speaker":"Alan Smith","startTime":259.32,"endTime":263.19,"body":"two is on cross country skis,"},{"speaker":"Alan Smith","startTime":259.32,"endTime":263.19,"body":"which I've never been on before"},{"speaker":"Alan Smith","startTime":263.19,"endTime":267.45,"body":"in my life and they're harder"},{"speaker":"Alan Smith","startTime":263.19,"endTime":267.45,"body":"than the look and that is just"},{"speaker":"Alan Smith","startTime":267.45,"endTime":271.89,"body":"traversing across the snow for a"},{"speaker":"Alan Smith","startTime":267.45,"endTime":271.89,"body":"great distances. And day three"},{"speaker":"Alan Smith","startTime":271.89,"endTime":274.14,"body":"which I thought would be the"},{"speaker":"Alan Smith","startTime":271.89,"endTime":274.14,"body":"easiest was arguably the hardest"},{"speaker":"Alan Smith","startTime":274.14,"endTime":276.9,"body":"which is with snow shoes, which"},{"speaker":"Alan Smith","startTime":274.14,"endTime":276.9,"body":"are these you know specially"},{"speaker":"Alan Smith","startTime":276.9,"endTime":281.61,"body":"designed shoes for walking"},{"speaker":"Alan Smith","startTime":276.9,"endTime":281.61,"body":"across snow. And the trouble is,"},{"speaker":"Alan Smith","startTime":281.85,"endTime":284.76,"body":"every so often you fall through"},{"speaker":"Alan Smith","startTime":281.85,"endTime":284.76,"body":"the snow. There's great big"},{"speaker":"Alan Smith","startTime":284.76,"endTime":288.09,"body":"buddy holes in it and you fall"},{"speaker":"Alan Smith","startTime":284.76,"endTime":288.09,"body":"down to a waist deep and it"},{"speaker":"Alan Smith","startTime":288.09,"endTime":291.81,"body":"takes every effort under the sun"},{"speaker":"Alan Smith","startTime":288.09,"endTime":291.81,"body":"to raise the natural and climb"},{"speaker":"Alan Smith","startTime":291.81,"endTime":296.25,"body":"back up again. You can't bloody"},{"speaker":"Alan Smith","startTime":291.81,"endTime":296.25,"body":"breathe and so why the hell did"},{"speaker":"Alan Smith","startTime":296.25,"endTime":299.67,"body":"I do it? And it's quite an"},{"speaker":"Alan Smith","startTime":296.25,"endTime":299.67,"body":"honor. I thought many a time and"},{"speaker":"Alan Smith","startTime":299.67,"endTime":302.94,"body":"I was I was going through, or"},{"speaker":"Alan Smith","startTime":299.67,"endTime":302.94,"body":"like, you know, kilometer 15, or"},{"speaker":"Alan Smith","startTime":302.94,"endTime":305.67,"body":"something I'm nearly halfway"},{"speaker":"Alan Smith","startTime":302.94,"endTime":305.67,"body":"through and day one. Why the"},{"speaker":"Alan Smith","startTime":305.67,"endTime":309.54,"body":"hell do I do it. But I've done a"},{"speaker":"Alan Smith","startTime":305.67,"endTime":309.54,"body":"few of these kinds of adventures"},{"speaker":"Alan Smith","startTime":309.57,"endTime":313.08,"body":"before climb Kilimanjaro a few"},{"speaker":"Alan Smith","startTime":309.57,"endTime":313.08,"body":"years ago. And that was tough,"},{"speaker":"Alan Smith","startTime":313.08,"endTime":315.69,"body":"or they certainly last the"},{"speaker":"Alan Smith","startTime":313.08,"endTime":315.69,"body":"summit of Kilimanjaro is really"},{"speaker":"Alan Smith","startTime":315.69,"endTime":318.66,"body":"tough because it's at altitudes,"},{"speaker":"Alan Smith","startTime":315.69,"endTime":318.66,"body":"it's hard to breathe. And it's"},{"speaker":"Alan Smith","startTime":318.66,"endTime":321.63,"body":"really steep and it's icing."},{"speaker":"Alan Smith","startTime":318.66,"endTime":321.63,"body":"It's pitch black. This was much"},{"speaker":"Alan Smith","startTime":321.63,"endTime":324.24,"body":"harder. I like to say this is"},{"speaker":"Alan Smith","startTime":321.63,"endTime":324.24,"body":"much harder for me anyway than"},{"speaker":"Alan Smith","startTime":324.24,"endTime":326.49,"body":"climbing Kilimanjaro. In fact,"},{"speaker":"Alan Smith","startTime":324.24,"endTime":326.49,"body":"some of the quite a lot of"},{"speaker":"Alan Smith","startTime":326.49,"endTime":329.43,"body":"people on this trip are kind of"},{"speaker":"Alan Smith","startTime":326.49,"endTime":329.43,"body":"people who do a lot of extreme"},{"speaker":"Alan Smith","startTime":329.43,"endTime":331.77,"body":"things. I don't do many, but"},{"speaker":"Alan Smith","startTime":329.43,"endTime":331.77,"body":"some people do this all the"},{"speaker":"Alan Smith","startTime":331.77,"endTime":335.31,"body":"time. There was a guy who's just"},{"speaker":"Alan Smith","startTime":331.77,"endTime":335.31,"body":"done three marathons in three"},{"speaker":"Alan Smith","startTime":335.31,"endTime":338.61,"body":"days, which is quite a quite a"},{"speaker":"Alan Smith","startTime":335.31,"endTime":338.61,"body":"push. And he said this was"},{"speaker":"Alan Smith","startTime":338.61,"endTime":340.74,"body":"harder. This was quite a bit"},{"speaker":"Alan Smith","startTime":338.61,"endTime":340.74,"body":"harder than doing the three"},{"speaker":"Alan Smith","startTime":340.74,"endTime":344.25,"body":"marathons so it was physically"},{"speaker":"Alan Smith","startTime":340.74,"endTime":344.25,"body":"challenging. Obviously, it was"},{"speaker":"Alan Smith","startTime":344.25,"endTime":350.4,"body":"mentally tough, didn't drop out."},{"speaker":"Alan Smith","startTime":344.25,"endTime":350.4,"body":"Well, they make it no one drops"},{"speaker":"Alan Smith","startTime":350.4,"endTime":353.97,"body":"out completely, but they do make"},{"speaker":"Alan Smith","startTime":350.4,"endTime":353.97,"body":"it they allow you to the smart"},{"speaker":"Alan Smith","startTime":353.97,"endTime":356.1,"body":"snowmobiles driving around"},{"speaker":"Alan Smith","startTime":353.97,"endTime":356.1,"body":"support and if you feel you"},{"speaker":"Alan Smith","startTime":356.1,"endTime":358.2,"body":"can't go on they'll pick you up"},{"speaker":"Alan Smith","startTime":356.1,"endTime":358.2,"body":"during the drive to the next"},{"speaker":"Alan Smith","startTime":358.2,"endTime":360.78,"body":"station or to take you home or"},{"speaker":"Alan Smith","startTime":358.2,"endTime":360.78,"body":"something. And a few people did"},{"speaker":"Alan Smith","startTime":360.78,"endTime":363.24,"body":"that or they sort of missed"},{"speaker":"Alan Smith","startTime":360.78,"endTime":363.24,"body":"parts of it but it was all done"},{"speaker":"Alan Smith","startTime":363.24,"endTime":366.15,"body":"very subtly didn't really know"},{"speaker":"Alan Smith","startTime":363.24,"endTime":366.15,"body":"what I did because I was looking"},{"speaker":"Alan Smith","startTime":366.15,"endTime":368.61,"body":"at the only few people who were"},{"speaker":"Alan Smith","startTime":366.15,"endTime":368.61,"body":"behind me and I thought there's"},{"speaker":"Alan Smith","startTime":368.61,"endTime":371.94,"body":"no one behind me anymore at"},{"speaker":"Alan Smith","startTime":368.61,"endTime":371.94,"body":"certain times so they're like"},{"speaker":"Alan Smith","startTime":371.94,"endTime":375.09,"body":"this support you completely to"},{"speaker":"Alan Smith","startTime":371.94,"endTime":375.09,"body":"do it. I did all that was"},{"speaker":"Alan Smith","startTime":375.09,"endTime":378.48,"body":"required because I'm kind of"},{"speaker":"Alan Smith","startTime":375.09,"endTime":378.48,"body":"obstinate that way I certainly"},{"speaker":"Alan Smith","startTime":378.48,"endTime":381.72,"body":"wasn't the fastest but wasn't"},{"speaker":"Alan Smith","startTime":378.48,"endTime":381.72,"body":"the slowest either. But I think"},{"speaker":"Alan Smith","startTime":381.72,"endTime":384.66,"body":"for me anyway, I do these things"},{"speaker":"Alan Smith","startTime":381.72,"endTime":384.66,"body":"from time to time because I like"},{"speaker":"Alan Smith","startTime":384.66,"endTime":387.87,"body":"being liked having some sort of"},{"speaker":"Alan Smith","startTime":384.66,"endTime":387.87,"body":"goals to work towards I did sort"},{"speaker":"Alan Smith","startTime":387.87,"endTime":392.4,"body":"of up my training regime a bit"},{"speaker":"Alan Smith","startTime":387.87,"endTime":392.4,"body":"in the in the months leading up"},{"speaker":"Alan Smith","startTime":392.4,"endTime":396.0,"body":"to it I was doing more exercise"},{"speaker":"Alan Smith","startTime":392.4,"endTime":396.0,"body":"more sort of Hill sprinting and"},{"speaker":"Alan Smith","startTime":396.0,"endTime":398.58,"body":"stuff like that trying to get"},{"speaker":"Alan Smith","startTime":396.0,"endTime":398.58,"body":"fit. I mean, just going to a gym"},{"speaker":"Alan Smith","startTime":398.58,"endTime":401.64,"body":"or something with no real goal"},{"speaker":"Alan Smith","startTime":398.58,"endTime":401.64,"body":"or ambition I think is a bit"},{"speaker":"Alan Smith","startTime":401.64,"endTime":403.56,"body":"it's a bit like financial"},{"speaker":"Alan Smith","startTime":401.64,"endTime":403.56,"body":"planning, actually, you need to"},{"speaker":"Alan Smith","startTime":403.56,"endTime":406.53,"body":"have a goal to head towards"},{"speaker":"Alan Smith","startTime":403.56,"endTime":406.53,"body":"otherwise you're just saving in"},{"speaker":"Alan Smith","startTime":406.53,"endTime":410.52,"body":"a vacuum. I think it builds"},{"speaker":"Alan Smith","startTime":406.53,"endTime":410.52,"body":"resilience to the sort of things"},{"speaker":"Alan Smith","startTime":410.52,"endTime":414.24,"body":"that proves how strong you can"},{"speaker":"Alan Smith","startTime":410.52,"endTime":414.24,"body":"be. I think a lot of our speak"},{"speaker":"Alan Smith","startTime":414.24,"endTime":417.9,"body":"for myself, I think we I live a"},{"speaker":"Alan Smith","startTime":414.24,"endTime":417.9,"body":"fairly cosseted life it's it's"},{"speaker":"Alan Smith","startTime":417.9,"endTime":421.17,"body":"not too tough. Thankfully, most"},{"speaker":"Alan Smith","startTime":417.9,"endTime":421.17,"body":"of it on this show this was this"},{"speaker":"Alan Smith","startTime":421.17,"endTime":423.87,"body":"was tough. Because of the"},{"speaker":"Alan Smith","startTime":421.17,"endTime":423.87,"body":"conditions it makes it just"},{"speaker":"Alan Smith","startTime":424.14,"endTime":427.32,"body":"absolutely bloody freezing. As"},{"speaker":"Alan Smith","startTime":424.14,"endTime":427.32,"body":"long as you are moving, it's"},{"speaker":"Alan Smith","startTime":427.32,"endTime":431.22,"body":"fine but you stop moving, you"},{"speaker":"Alan Smith","startTime":427.32,"endTime":431.22,"body":"stop for a break. Use you get"},{"speaker":"Alan Smith","startTime":431.22,"endTime":433.86,"body":"cold really quickly your hands"},{"speaker":"Alan Smith","startTime":431.22,"endTime":433.86,"body":"get my hands get really super"},{"speaker":"Alan Smith","startTime":433.86,"endTime":437.79,"body":"cold. So I think it helps build"},{"speaker":"Alan Smith","startTime":433.86,"endTime":437.79,"body":"strength and resilience and I've"},{"speaker":"Alan Smith","startTime":437.79,"endTime":439.47,"body":"definitely had a sense of"},{"speaker":"Alan Smith","startTime":437.79,"endTime":439.47,"body":"achievement you crossed the"},{"speaker":"Alan Smith","startTime":439.47,"endTime":443.85,"body":"finishing line. Because the"},{"speaker":"Alan Smith","startTime":439.47,"endTime":443.85,"body":"finishing line is a sense of"},{"speaker":"Alan Smith","startTime":443.85,"endTime":448.86,"body":"achievement. So it was a bucket"},{"speaker":"Alan Smith","startTime":443.85,"endTime":448.86,"body":"list item is ticked off. It's"},{"speaker":"Alan Smith","startTime":448.86,"endTime":453.06,"body":"done. It's great. I wanted to do"},{"speaker":"Alan Smith","startTime":448.86,"endTime":453.06,"body":"it. Finally Nick finally Nick"},{"speaker":"Alan Smith","startTime":453.12,"endTime":456.66,"body":"there is a brief shout out you"},{"speaker":"Alan Smith","startTime":453.12,"endTime":456.66,"body":"like this I think it was I went"},{"speaker":"Alan Smith","startTime":456.66,"endTime":460.62,"body":"with resilience 25 or so on the"},{"speaker":"Alan Smith","startTime":456.66,"endTime":460.62,"body":"on the on the group of which"},{"speaker":"Alan Smith","startTime":460.62,"endTime":463.8,"body":"three others of which I knew"},{"speaker":"Alan Smith","startTime":460.62,"endTime":463.8,"body":"they're close personal friends"},{"speaker":"Alan Smith","startTime":463.8,"endTime":468.9,"body":"of mine. Keith Charles, who's a"},{"speaker":"Alan Smith","startTime":463.8,"endTime":468.9,"body":"colleague of mine here and Paul"},{"speaker":"Alan Smith","startTime":468.96,"endTime":472.86,"body":"are working, or work in"},{"speaker":"Alan Smith","startTime":468.96,"endTime":472.86,"body":"financial services. Keith made"},{"speaker":"Alan Smith","startTime":472.86,"endTime":477.21,"body":"me laugh. You some of you guys"},{"speaker":"Alan Smith","startTime":472.86,"endTime":477.21,"body":"will know Keith from from iEX"},{"speaker":"Alan Smith","startTime":477.21,"endTime":480.78,"body":"currently works at a large"},{"speaker":"Alan Smith","startTime":477.21,"endTime":480.78,"body":"national advice firm. And he was"},{"speaker":"Alan Smith","startTime":480.78,"endTime":484.86,"body":"talking to him about trap. And"},{"speaker":"Alan Smith","startTime":480.78,"endTime":484.86,"body":"he says I love a love trap. If I"},{"speaker":"Alan Smith","startTime":484.86,"endTime":489.9,"body":"gave him a gift to them, I had"},{"speaker":"Alan Smith","startTime":484.86,"endTime":489.9,"body":"the trap famous trap. And he was"},{"speaker":"Alan Smith","startTime":489.9,"endTime":493.05,"body":"very delighted with it. He said"},{"speaker":"Alan Smith","startTime":489.9,"endTime":493.05,"body":"he often he goes running along"},{"speaker":"Alan Smith","startTime":493.08,"endTime":496.56,"body":"and he says he listens to trap"},{"speaker":"Alan Smith","startTime":493.08,"endTime":496.56,"body":"in his headphones whilst he's"},{"speaker":"Alan Smith","startTime":496.56,"endTime":499.14,"body":"running along. And he said and"},{"speaker":"Alan Smith","startTime":496.56,"endTime":499.14,"body":"often these days I'm running"},{"speaker":"Alan Smith","startTime":499.14,"endTime":502.2,"body":"along through the park and I'm"},{"speaker":"Alan Smith","startTime":499.14,"endTime":502.2,"body":"bursting out laughing laughing"},{"speaker":"Alan Smith","startTime":502.77,"endTime":504.84,"body":"I'm just laughing my head off at"},{"speaker":"Alan Smith","startTime":502.77,"endTime":504.84,"body":"various comments that people are"},{"speaker":"Alan Smith","startTime":504.84,"endTime":507.36,"body":"making and everyone's looking at"},{"speaker":"Alan Smith","startTime":504.84,"endTime":507.36,"body":"me say God, that guy must really"},{"speaker":"Alan Smith","startTime":507.36,"endTime":512.88,"body":"enjoy running. laughing his head"},{"speaker":"Alan Smith","startTime":507.36,"endTime":512.88,"body":"off of us. So shout out to key"},{"speaker":"Alan Smith","startTime":512.88,"endTime":516.18,"body":"thanks for being a loyal"},{"speaker":"Alan Smith","startTime":512.88,"endTime":516.18,"body":"TRAPPIST and a colleague on this"},{"speaker":"Alan Smith","startTime":516.21,"endTime":518.52,"body":"Arctic adventure. That was"},{"speaker":"Alan Smith","startTime":516.21,"endTime":518.52,"body":"great."},{"speaker":"Carl Widger","startTime":519.389,"endTime":522.719,"body":"He also took the"},{"speaker":"Carl Widger","startTime":519.389,"endTime":522.719,"body":"greatest photo I have ever seen"},{"speaker":"Carl Widger","startTime":522.929,"endTime":525.899,"body":"that photo you shared with the"},{"speaker":"Carl Widger","startTime":522.929,"endTime":525.899,"body":"northern knights. It was"},{"speaker":"Carl Widger","startTime":525.899,"endTime":529.109,"body":"amazing. You sent some amazing"},{"speaker":"Carl Widger","startTime":525.899,"endTime":529.109,"body":"pics from it. Yeah, well done."},{"speaker":"Carl Widger","startTime":529.139,"endTime":532.949,"body":"Like fair. Yeah, seriously."},{"speaker":"Carl Widger","startTime":529.139,"endTime":532.949,"body":"Fantastic. Not"},{"speaker":"Nick Lincoln","startTime":532.95,"endTime":534.6,"body":"sure I could do"},{"speaker":"Nick Lincoln","startTime":532.95,"endTime":534.6,"body":"that. So that's that's that is"},{"speaker":"Nick Lincoln","startTime":534.6,"endTime":534.84,"body":"a."},{"speaker":"Andy Hart","startTime":536.97,"endTime":538.92,"body":"Nick do want to just"},{"speaker":"Andy Hart","startTime":536.97,"endTime":538.92,"body":"briefly mention the McDonald's."},{"speaker":"Alan Smith","startTime":540.69,"endTime":542.85,"body":"McDonald's for the"},{"speaker":"Alan Smith","startTime":540.69,"endTime":542.85,"body":"most northern McDonald's in the"},{"speaker":"Alan Smith","startTime":542.85,"endTime":543.78,"body":"world. Yeah."},{"speaker":"Andy Hart","startTime":544.98,"endTime":547.2,"body":"You start there"},{"speaker":"Andy Hart","startTime":544.98,"endTime":547.2,"body":"before the first day."},{"speaker":"Alan Smith","startTime":547.86,"endTime":550.92,"body":"Yeah, yeah, I didn't"},{"speaker":"Alan Smith","startTime":547.86,"endTime":550.92,"body":"actually go into the McDonald's"},{"speaker":"Alan Smith","startTime":551.07,"endTime":556.17,"body":"went to Burger King instead."},{"speaker":"Alan Smith","startTime":551.07,"endTime":556.17,"body":"Must be must be a car makers are"},{"speaker":"Nick Lincoln","startTime":556.17,"endTime":558.0,"body":"more North"},{"speaker":"Nick Lincoln","startTime":556.17,"endTime":558.0,"body":"northern discerning palates."},{"speaker":"Nick Lincoln","startTime":559.86,"endTime":560.79,"body":"Exactly. Yeah."},{"speaker":"Alan Smith","startTime":561.06,"endTime":562.32,"body":"You guys should go"},{"speaker":"Alan Smith","startTime":561.06,"endTime":562.32,"body":"next year."},{"speaker":"Nick Lincoln","startTime":562.95,"endTime":566.07,"body":"No chance."},{"speaker":"Nick Lincoln","startTime":562.95,"endTime":566.07,"body":"Absolutely. zero chance. All"},{"speaker":"Nick Lincoln","startTime":566.07,"endTime":570.15,"body":"right. Okay, moving on. So I run"},{"speaker":"Nick Lincoln","startTime":566.07,"endTime":570.15,"body":"this thing called the IFA forum."},{"speaker":"Nick Lincoln","startTime":570.15,"endTime":572.31,"body":"This this Google group and it's"},{"speaker":"Nick Lincoln","startTime":570.15,"endTime":572.31,"body":"got you don't"},{"speaker":"Andy Hart","startTime":572.31,"endTime":574.17,"body":"do an IC o never"},{"speaker":"Andy Hart","startTime":572.31,"endTime":574.17,"body":"mentioned"},{"speaker":"Nick Lincoln","startTime":576.12,"endTime":581.01,"body":"tiny.cc/ifa forum."},{"speaker":"Nick Lincoln","startTime":576.12,"endTime":581.01,"body":"Anyway, there was about Genesis"},{"speaker":"Nick Lincoln","startTime":581.01,"endTime":584.19,"body":"Junior ISIS. I'm not sure"},{"speaker":"Nick Lincoln","startTime":581.01,"endTime":584.19,"body":"clearly what the equivalent in"},{"speaker":"Nick Lincoln","startTime":584.37,"endTime":587.31,"body":"in your novel, we don't know."},{"speaker":"Nick Lincoln","startTime":584.37,"endTime":587.31,"body":"Okay, you know what they are,"},{"speaker":"Nick Lincoln","startTime":587.49,"endTime":590.25,"body":"the money reverts absolutely to"},{"speaker":"Nick Lincoln","startTime":587.49,"endTime":590.25,"body":"the kids at 18. There's just"},{"speaker":"Nick Lincoln","startTime":590.4,"endTime":593.04,"body":"another cretinous example of"},{"speaker":"Nick Lincoln","startTime":590.4,"endTime":593.04,"body":"what how civil servants"},{"speaker":"Nick Lincoln","startTime":593.04,"endTime":596.07,"body":"shouldn't be allowed anywhere"},{"speaker":"Nick Lincoln","startTime":593.04,"endTime":596.07,"body":"near personal finance. And it"},{"speaker":"Nick Lincoln","startTime":596.07,"endTime":598.83,"body":"just there's just a thread about"},{"speaker":"Nick Lincoln","startTime":596.07,"endTime":598.83,"body":"this, how all these advisors and"},{"speaker":"Nick Lincoln","startTime":598.83,"endTime":603.09,"body":"the other clients Some of these"},{"speaker":"Nick Lincoln","startTime":598.83,"endTime":603.09,"body":"advisors are just trying to hide"},{"speaker":"Nick Lincoln","startTime":603.15,"endTime":606.33,"body":"ISIS from their children and the"},{"speaker":"Nick Lincoln","startTime":603.15,"endTime":606.33,"body":"things we're getting up to. And"},{"speaker":"Nick Lincoln","startTime":606.33,"endTime":609.21,"body":"some ifas in the in the chat"},{"speaker":"Nick Lincoln","startTime":606.33,"endTime":609.21,"body":"saying you aren't doing the same"},{"speaker":"Nick Lincoln","startTime":609.21,"endTime":611.85,"body":"thing, you know, logging into"},{"speaker":"Nick Lincoln","startTime":609.21,"endTime":611.85,"body":"into into the platforms and"},{"speaker":"Nick Lincoln","startTime":612.09,"endTime":615.27,"body":"changing the password and not"},{"speaker":"Nick Lincoln","startTime":612.09,"endTime":615.27,"body":"telling the kids it's just just"},{"speaker":"Nick Lincoln","startTime":615.27,"endTime":618.3,"body":"you know, what are they are they"},{"speaker":"Nick Lincoln","startTime":615.27,"endTime":618.3,"body":"are completely ridiculous"},{"speaker":"Nick Lincoln","startTime":618.3,"endTime":618.93,"body":"product and"},{"speaker":"Andy Hart","startTime":619.619,"endTime":621.869,"body":"examples of it"},{"speaker":"Andy Hart","startTime":619.619,"endTime":621.869,"body":"working very well Nick and"},{"speaker":"Andy Hart","startTime":621.869,"endTime":624.929,"body":"getting children to invest early"},{"speaker":"Andy Hart","startTime":621.869,"endTime":624.929,"body":"to understand how investing"},{"speaker":"Andy Hart","startTime":624.929,"endTime":627.389,"body":"works and become a team"},{"speaker":"Andy Hart","startTime":624.929,"endTime":627.389,"body":"responsible for money, their"},{"speaker":"Andy Hart","startTime":627.389,"endTime":631.079,"body":"learning and money lesson. It's"},{"speaker":"Andy Hart","startTime":627.389,"endTime":631.079,"body":"not all bad news. So it's"},{"speaker":"Nick Lincoln","startTime":632.25,"endTime":633.87,"body":"nice that you can"},{"speaker":"Nick Lincoln","startTime":632.25,"endTime":633.87,"body":"do that nice. And the clients"},{"speaker":"Nick Lincoln","startTime":633.87,"endTime":634.95,"body":"name is Charles"},{"speaker":"Alan Smith","startTime":636.33,"endTime":639.87,"body":"River, you're"},{"speaker":"Alan Smith","startTime":636.33,"endTime":639.87,"body":"automatically cuz I haven't paid"},{"speaker":"Alan Smith","startTime":639.87,"endTime":642.87,"body":"much attention to this already"},{"speaker":"Alan Smith","startTime":639.87,"endTime":642.87,"body":"convert to a full ICER and then"},{"speaker":"Alan Smith","startTime":643.26,"endTime":646.8,"body":"begin to write to the child or"},{"speaker":"Alan Smith","startTime":643.26,"endTime":646.8,"body":"the moment,"},{"speaker":"Andy Hart","startTime":647.1,"endTime":649.83,"body":"the clients 17 and a"},{"speaker":"Andy Hart","startTime":647.1,"endTime":649.83,"body":"half and they want to Yeah,"},{"speaker":"Andy Hart","startTime":649.86,"endTime":652.53,"body":"anyway, so by the time they're"},{"speaker":"Andy Hart","startTime":649.86,"endTime":652.53,"body":"18, Transact, say, yeah, it just"},{"speaker":"Andy Hart","startTime":652.53,"endTime":655.11,"body":"turns to a nice automatic, they"},{"speaker":"Andy Hart","startTime":652.53,"endTime":655.11,"body":"become a client, we send them a"},{"speaker":"Andy Hart","startTime":655.11,"endTime":658.17,"body":"login details and remove it from"},{"speaker":"Andy Hart","startTime":655.11,"endTime":658.17,"body":"the parents. But does"},{"speaker":"Alan Smith","startTime":658.17,"endTime":661.14,"body":"that tell you a lot"},{"speaker":"Alan Smith","startTime":658.17,"endTime":661.14,"body":"about the mother child or the"},{"speaker":"Alan Smith","startTime":661.14,"endTime":663.69,"body":"parenting if he can't be"},{"speaker":"Alan Smith","startTime":661.14,"endTime":663.69,"body":"trusted? Well,"},{"speaker":"Andy Hart","startTime":663.72,"endTime":666.69,"body":"because on the IFA"},{"speaker":"Andy Hart","startTime":663.72,"endTime":666.69,"body":"forum, a lady was concerned with"},{"speaker":"Andy Hart","startTime":666.69,"endTime":669.21,"body":"the behavior, the child is now"},{"speaker":"Andy Hart","startTime":666.69,"endTime":669.21,"body":"gonna receive the data. So it's"},{"speaker":"Andy Hart","startTime":669.21,"endTime":671.22,"body":"an anecdote, obviously, it's a"},{"speaker":"Andy Hart","startTime":669.21,"endTime":671.22,"body":"bad story,"},{"speaker":"Alan Smith","startTime":671.46,"endTime":674.22,"body":"your child who's"},{"speaker":"Alan Smith","startTime":671.46,"endTime":674.22,"body":"gonna have a bit wayward? Yeah,"},{"speaker":"Alan Smith","startTime":674.22,"endTime":679.05,"body":"exactly. Exactly. 1000 quid in"},{"speaker":"Alan Smith","startTime":674.22,"endTime":679.05,"body":"their hand, he, he might,"},{"speaker":"Nick Lincoln","startTime":679.049,"endTime":681.359,"body":"yeah, I wouldn't"},{"speaker":"Nick Lincoln","startTime":679.049,"endTime":681.359,"body":"have been a disaster with 18 or"},{"speaker":"Nick Lincoln","startTime":681.359,"endTime":684.269,"body":"whatever, whatever, at 18 If I'd"},{"speaker":"Nick Lincoln","startTime":681.359,"endTime":684.269,"body":"been given a lump sum of money,"},{"speaker":"Nick Lincoln","startTime":685.289,"endTime":687.749,"body":"without a doubt, I mean, now you"},{"speaker":"Nick Lincoln","startTime":685.289,"endTime":687.749,"body":"see a mature successful"},{"speaker":"Nick Lincoln","startTime":687.749,"endTime":691.079,"body":"businessman in front of you. But"},{"speaker":"Nick Lincoln","startTime":687.749,"endTime":691.079,"body":"back then I was not quite as"},{"speaker":"Nick Lincoln","startTime":691.079,"endTime":697.739,"body":"polished. Moving on ultra online"},{"speaker":"Nick Lincoln","startTime":691.079,"endTime":697.739,"body":"tax returns."},{"speaker":"Andy Hart","startTime":698.37,"endTime":700.53,"body":"Yeah, some of your"},{"speaker":"Andy Hart","startTime":698.37,"endTime":700.53,"body":"clients or people you come"},{"speaker":"Andy Hart","startTime":700.53,"endTime":704.49,"body":"across might need to be get"},{"speaker":"Andy Hart","startTime":700.53,"endTime":704.49,"body":"caught up in having to file tax"},{"speaker":"Andy Hart","startTime":704.49,"endTime":707.19,"body":"returns now because of the"},{"speaker":"Andy Hart","startTime":704.49,"endTime":707.19,"body":"changes in tax legislation, etc,"},{"speaker":"Andy Hart","startTime":707.19,"endTime":712.8,"body":"etc. There is a website called"},{"speaker":"Andy Hart","startTime":707.19,"endTime":712.8,"body":"Tax spelt T A xd dot Coda UK,"},{"speaker":"Andy Hart","startTime":713.58,"endTime":718.08,"body":"that's doing tax returns for"},{"speaker":"Andy Hart","startTime":713.58,"endTime":718.08,"body":"super cheap. Check it out, it"},{"speaker":"Andy Hart","startTime":718.08,"endTime":721.74,"body":"might be useful for us a little"},{"speaker":"Andy Hart","startTime":718.08,"endTime":721.74,"body":"bit like this sort of low"},{"speaker":"Andy Hart","startTime":721.74,"endTime":724.89,"body":"charging, will writing services,"},{"speaker":"Andy Hart","startTime":721.74,"endTime":724.89,"body":"you know, suitable for some"},{"speaker":"Andy Hart","startTime":724.89,"endTime":728.19,"body":"people, not for others. So"},{"speaker":"Andy Hart","startTime":724.89,"endTime":728.19,"body":"again, you might come across"},{"speaker":"Andy Hart","startTime":728.19,"endTime":730.59,"body":"someone that needs to return or"},{"speaker":"Andy Hart","startTime":728.19,"endTime":730.59,"body":"you know, file a tax return to"},{"speaker":"Andy Hart","startTime":730.59,"endTime":732.81,"body":"their accountant saying, Yeah,"},{"speaker":"Andy Hart","startTime":730.59,"endTime":732.81,"body":"we could do it for 900 quid for"},{"speaker":"Andy Hart","startTime":732.81,"endTime":736.56,"body":"you to declare 90 pounds. It"},{"speaker":"Andy Hart","startTime":732.81,"endTime":736.56,"body":"doesn't make any sense. So yeah,"},{"speaker":"Andy Hart","startTime":736.65,"endTime":739.83,"body":"maybe check it out. There's a"},{"speaker":"Andy Hart","startTime":736.65,"endTime":739.83,"body":"link in the so called Show Notes"},{"speaker":"Andy Hart","startTime":739.86,"endTime":740.58,"body":"back to Unit"},{"speaker":"Nick Lincoln","startTime":740.61,"endTime":743.25,"body":"and I think about"},{"speaker":"Nick Lincoln","startTime":740.61,"endTime":743.25,"body":"it because, you know, my lovely"},{"speaker":"Nick Lincoln","startTime":743.25,"endTime":746.64,"body":"therapy, she's a head teacher"},{"speaker":"Nick Lincoln","startTime":743.25,"endTime":746.64,"body":"says she's a 40% tax payer. And"},{"speaker":"Nick Lincoln","startTime":746.64,"endTime":749.34,"body":"she's never done a self"},{"speaker":"Nick Lincoln","startTime":746.64,"endTime":749.34,"body":"assessment, and I just don't"},{"speaker":"Nick Lincoln","startTime":749.34,"endTime":751.71,"body":"trust HMRC to get anything,"},{"speaker":"Nick Lincoln","startTime":749.34,"endTime":751.71,"body":"right. And I'm always thinking,"},{"speaker":"Nick Lincoln","startTime":751.74,"endTime":754.65,"body":"should she do a self assessment?"},{"speaker":"Nick Lincoln","startTime":751.74,"endTime":754.65,"body":"You know, are they taking note"},{"speaker":"Nick Lincoln","startTime":754.65,"endTime":757.41,"body":"of her contributions to her"},{"speaker":"Nick Lincoln","startTime":754.65,"endTime":757.41,"body":"final salary pension scheme? Is"},{"speaker":"Nick Lincoln","startTime":757.41,"endTime":760.77,"body":"that coming off her, her taxable"},{"speaker":"Nick Lincoln","startTime":757.41,"endTime":760.77,"body":"income? And I'm always on the"},{"speaker":"Nick Lincoln","startTime":760.77,"endTime":763.98,"body":"cusp of doing it. But then once"},{"speaker":"Nick Lincoln","startTime":760.77,"endTime":763.98,"body":"you're in that MSG system was"},{"speaker":"Nick Lincoln","startTime":763.98,"endTime":766.17,"body":"that we had to get out of it as"},{"speaker":"Nick Lincoln","startTime":763.98,"endTime":766.17,"body":"well. You're doing it every"},{"speaker":"Nick Lincoln","startTime":766.17,"endTime":768.66,"body":"year? I don't know. You'd like"},{"speaker":"Nick Lincoln","startTime":766.17,"endTime":768.66,"body":"to have faith and just think"},{"speaker":"Nick Lincoln","startTime":768.66,"endTime":770.43,"body":"everything's been done. Right,"},{"speaker":"Nick Lincoln","startTime":768.66,"endTime":770.43,"body":"wouldn't you? I mean, she's, you"},{"speaker":"Nick Lincoln","startTime":770.43,"endTime":772.38,"body":"know, cleanser whistle Pay as"},{"speaker":"Nick Lincoln","startTime":770.43,"endTime":772.38,"body":"You weren't, you know, other"},{"speaker":"Nick Lincoln","startTime":772.38,"endTime":773.79,"body":"than comes our assets. I suppose"},{"speaker":"Nick Lincoln","startTime":772.38,"endTime":773.79,"body":"for"},{"speaker":"Andy Hart","startTime":773.79,"endTime":775.59,"body":"UK advisors listening"},{"speaker":"Andy Hart","startTime":773.79,"endTime":775.59,"body":"to this, there might be"},{"speaker":"Andy Hart","startTime":775.59,"endTime":779.82,"body":"situations where their clients"},{"speaker":"Andy Hart","startTime":775.59,"endTime":779.82,"body":"triggered the CDT bill. Yeah,"},{"speaker":"Andy Hart","startTime":779.82,"endTime":782.58,"body":"that's why in order to do it,"},{"speaker":"Andy Hart","startTime":779.82,"endTime":782.58,"body":"simply, this might be a"},{"speaker":"Andy Hart","startTime":782.58,"endTime":786.45,"body":"potential solution. So check it"},{"speaker":"Andy Hart","startTime":782.58,"endTime":786.45,"body":"out. TXD dot credit UK."},{"speaker":"Nick Lincoln","startTime":817.36,"endTime":822.13,"body":"Okay. superb voice"},{"speaker":"Nick Lincoln","startTime":817.36,"endTime":822.13,"body":"Metis charity run?"},{"speaker":"Carl Widger","startTime":822.76,"endTime":825.4599999999999,"body":"Yep. So I just"},{"speaker":"Carl Widger","startTime":822.76,"endTime":825.4599999999999,"body":"thought I'd mentioned this in"},{"speaker":"Carl Widger","startTime":825.4599999999999,"endTime":830.89,"body":"terms of potential ideas for"},{"speaker":"Carl Widger","startTime":825.4599999999999,"endTime":830.89,"body":"advisory firms to run events. So"},{"speaker":"Carl Widger","startTime":830.89,"endTime":835.18,"body":"this one is I can take no credit"},{"speaker":"Carl Widger","startTime":830.89,"endTime":835.18,"body":"for Ron and clearly my colleague"},{"speaker":"Carl Widger","startTime":835.18,"endTime":839.4699999999999,"body":"here. He's big into his park"},{"speaker":"Carl Widger","startTime":835.18,"endTime":839.4699999999999,"body":"runs and that kind of stuff and"},{"speaker":"Carl Widger","startTime":839.4699999999999,"endTime":842.38,"body":"said, How could we introduce"},{"speaker":"Carl Widger","startTime":839.4699999999999,"endTime":842.38,"body":"something like this to Mattis,"},{"speaker":"Carl Widger","startTime":842.7099999999999,"endTime":847.03,"body":"and maybe, you know, help some"},{"speaker":"Carl Widger","startTime":842.7099999999999,"endTime":847.03,"body":"charity help a charity out. So"},{"speaker":"Carl Widger","startTime":847.03,"endTime":850.12,"body":"basically, what we're doing is"},{"speaker":"Carl Widger","startTime":847.03,"endTime":850.12,"body":"in Limerick city on the 11th of"},{"speaker":"Carl Widger","startTime":850.12,"endTime":856.93,"body":"April 5k Fun Run, and it's 20"},{"speaker":"Carl Widger","startTime":850.12,"endTime":856.93,"body":"quid to register. All the money"},{"speaker":"Carl Widger","startTime":856.93,"endTime":860.38,"body":"goes to cleaners Foundation, who"},{"speaker":"Carl Widger","startTime":856.93,"endTime":860.38,"body":"I've mentioned before, they're a"},{"speaker":"Carl Widger","startTime":860.38,"endTime":864.25,"body":"charity who help families with"},{"speaker":"Carl Widger","startTime":860.38,"endTime":864.25,"body":"sick kids. Generally, it's,"},{"speaker":"Carl Widger","startTime":864.79,"endTime":866.8,"body":"we're hoping to get kind of 100"},{"speaker":"Carl Widger","startTime":864.79,"endTime":866.8,"body":"people at it, which would be"},{"speaker":"Carl Widger","startTime":866.8,"endTime":871.48,"body":"really cool. It's rolling and"},{"speaker":"Carl Widger","startTime":866.8,"endTime":871.48,"body":"won't say this of course, right."},{"speaker":"Carl Widger","startTime":871.48,"endTime":874.06,"body":"But it's pretty easy to organize"},{"speaker":"Carl Widger","startTime":871.48,"endTime":874.06,"body":"right? And it's pretty cost"},{"speaker":"Carl Widger","startTime":874.06,"endTime":878.53,"body":"effective. We're giving kind of"},{"speaker":"Carl Widger","startTime":874.06,"endTime":878.53,"body":"T shirts to people matters are"},{"speaker":"Carl Widger","startTime":878.53,"endTime":880.78,"body":"covering all the costs, all the"},{"speaker":"Carl Widger","startTime":878.53,"endTime":880.78,"body":"money will go to the charity."},{"speaker":"Carl Widger","startTime":880.99,"endTime":883.06,"body":"And then afterwards we're hoping"},{"speaker":"Carl Widger","startTime":880.99,"endTime":883.06,"body":"to kind of get a lot of the"},{"speaker":"Carl Widger","startTime":883.06,"endTime":886.48,"body":"business community from from"},{"speaker":"Carl Widger","startTime":883.06,"endTime":886.48,"body":"Limerick city there afterwards"},{"speaker":"Carl Widger","startTime":886.48,"endTime":889.7199999999999,"body":"will sponsor you know, a by teas"},{"speaker":"Carl Widger","startTime":886.48,"endTime":889.7199999999999,"body":"and a few drinks and that kind"},{"speaker":"Carl Widger","startTime":889.7199999999999,"endTime":893.26,"body":"of stuff. So really simple. And"},{"speaker":"Carl Widger","startTime":889.7199999999999,"endTime":893.26,"body":"it's a little bit different from"},{"speaker":"Carl Widger","startTime":893.26,"endTime":896.65,"body":"your just your game of golf or"},{"speaker":"Carl Widger","startTime":893.26,"endTime":896.65,"body":"you're going to a match. And"},{"speaker":"Carl Widger","startTime":896.65,"endTime":899.29,"body":"just to change things up a"},{"speaker":"Carl Widger","startTime":896.65,"endTime":899.29,"body":"little bit. And obviously,"},{"speaker":"Carl Widger","startTime":899.8299999999999,"endTime":903.8199999999999,"body":"there'll be all types of serious"},{"speaker":"Carl Widger","startTime":899.8299999999999,"endTime":903.8199999999999,"body":"runners and people who just walk"},{"speaker":"Carl Widger","startTime":903.8199999999999,"endTime":905.29,"body":"and as well welcome. Would you"},{"speaker":"Andy Hart","startTime":905.29,"endTime":908.89,"body":"want a famous extreme"},{"speaker":"Andy Hart","startTime":905.29,"endTime":908.89,"body":"sportsman to potentially rock up"},{"speaker":"Andy Hart","startTime":908.89,"endTime":912.37,"body":"as a special guest I think"},{"speaker":"Andy Hart","startTime":908.89,"endTime":912.37,"body":"Alan's free that weekend. No."},{"speaker":"Carl Widger","startTime":916.12,"endTime":917.9499999999999,"body":"We would of course"},{"speaker":"Carl Widger","startTime":916.12,"endTime":917.9499999999999,"body":"love Alan Smith."},{"speaker":"Nick Lincoln","startTime":918.8199999999999,"endTime":922.48,"body":"For Alan is is"},{"speaker":"Nick Lincoln","startTime":918.8199999999999,"endTime":922.48,"body":"nothing Yes, it's yeah, he would"},{"speaker":"Nick Lincoln","startTime":922.48,"endTime":926.0799999999999,"body":"he turned that down. It's not"},{"speaker":"Nick Lincoln","startTime":922.48,"endTime":926.0799999999999,"body":"it's not. Exactly, exactly."},{"speaker":"Nick Lincoln","startTime":926.17,"endTime":929.56,"body":"Okay. Great. Great, great"},{"speaker":"Nick Lincoln","startTime":926.17,"endTime":929.56,"body":"effort. The team and Metis well"},{"speaker":"Nick Lincoln","startTime":929.56,"endTime":932.5899999999999,"body":"done Mr. Smith total returns."},{"speaker":"Alan Smith","startTime":933.129,"endTime":935.259,"body":"I thought this is"},{"speaker":"Alan Smith","startTime":933.129,"endTime":935.259,"body":"quite an interesting article"},{"speaker":"Alan Smith","startTime":935.289,"endTime":938.049,"body":"actually sort of just confirming"},{"speaker":"Alan Smith","startTime":935.289,"endTime":938.049,"body":"something that we probably all"},{"speaker":"Alan Smith","startTime":938.079,"endTime":942.399,"body":"know. But it was explained quite"},{"speaker":"Alan Smith","startTime":938.079,"endTime":942.399,"body":"well on a blog post on the"},{"speaker":"Alan Smith","startTime":942.399,"endTime":946.959,"body":"timeline website written by"},{"speaker":"Alan Smith","startTime":942.399,"endTime":946.959,"body":"Robin Powell with some other"},{"speaker":"Alan Smith","startTime":946.959,"endTime":950.439,"body":"data points within it. And it"},{"speaker":"Alan Smith","startTime":946.959,"endTime":950.439,"body":"just made me think about it was"},{"speaker":"Alan Smith","startTime":950.439,"endTime":954.699,"body":"about the footsie footsie 100"},{"speaker":"Alan Smith","startTime":950.439,"endTime":954.699,"body":"specifically as an index. So"},{"speaker":"Alan Smith","startTime":954.699,"endTime":958.029,"body":"many commentators and social"},{"speaker":"Alan Smith","startTime":954.699,"endTime":958.029,"body":"media, we know who they are, we"},{"speaker":"Alan Smith","startTime":958.029,"endTime":961.9889999999999,"body":"know the names often reference"},{"speaker":"Alan Smith","startTime":958.029,"endTime":961.9889999999999,"body":"the footsie 100 as having"},{"speaker":"Alan Smith","startTime":962.019,"endTime":964.809,"body":"effectively gone nowhere for"},{"speaker":"Alan Smith","startTime":962.019,"endTime":964.809,"body":"best part of 20 years, the index"},{"speaker":"Alan Smith","startTime":964.809,"endTime":969.7289999999999,"body":"still sits around whatever it is"},{"speaker":"Alan Smith","startTime":964.809,"endTime":969.7289999999999,"body":"7700 or so, right now. And yeah,"},{"speaker":"Alan Smith","startTime":969.7289999999999,"endTime":974.1089999999999,"body":"it's gone nowhere. But of"},{"speaker":"Alan Smith","startTime":969.7289999999999,"endTime":974.1089999999999,"body":"course, like most indices, which"},{"speaker":"Alan Smith","startTime":974.1089999999999,"endTime":977.709,"body":"are quoted, it is surprised only"},{"speaker":"Alan Smith","startTime":974.1089999999999,"endTime":977.709,"body":"index, so whatever the number"},{"speaker":"Alan Smith","startTime":977.709,"endTime":981.429,"body":"is, or the price and it goes up"},{"speaker":"Alan Smith","startTime":977.709,"endTime":981.429,"body":"by that price over time. So it"},{"speaker":"Alan Smith","startTime":981.429,"endTime":984.279,"body":"looks like it's can stay fairly"},{"speaker":"Alan Smith","startTime":981.429,"endTime":984.279,"body":"static. And of course, it"},{"speaker":"Alan Smith","startTime":984.279,"endTime":988.419,"body":"ignores one of the biggest most"},{"speaker":"Alan Smith","startTime":984.279,"endTime":988.419,"body":"important aspects of any index"},{"speaker":"Alan Smith","startTime":988.419,"endTime":990.2489999999999,"body":"or any sort of equity type"},{"speaker":"Alan Smith","startTime":988.419,"endTime":990.2489999999999,"body":"investment, which is the"},{"speaker":"Alan Smith","startTime":990.2489999999999,"endTime":994.389,"body":"dividend returns, footsie 100 is"},{"speaker":"Alan Smith","startTime":990.2489999999999,"endTime":994.389,"body":"known to be a fairly highly"},{"speaker":"Alan Smith","startTime":994.389,"endTime":1000.149,"body":"paying dividend index, three and"},{"speaker":"Alan Smith","startTime":994.389,"endTime":1000.149,"body":"a half 4% 2.8. I think 3.7 3.8."},{"speaker":"Alan Smith","startTime":1000.149,"endTime":1004.199,"body":"And if you ignore those sorts of"},{"speaker":"Alan Smith","startTime":1000.149,"endTime":1004.199,"body":"returns three and a half to 4%,"},{"speaker":"Alan Smith","startTime":1004.199,"endTime":1010.289,"body":"compounded yearly. Yeah, it's"},{"speaker":"Alan Smith","startTime":1004.199,"endTime":1010.289,"body":"got the, the information, quote"},{"speaker":"Alan Smith","startTime":1010.289,"endTime":1013.6189999999999,"body":"is fairly going to be"},{"speaker":"Alan Smith","startTime":1010.289,"endTime":1013.6189999999999,"body":"misleading. They actually quote"},{"speaker":"Alan Smith","startTime":1013.6189999999999,"endTime":1016.709,"body":"a numbers if the focus is around"},{"speaker":"Alan Smith","startTime":1013.6189999999999,"endTime":1016.709,"body":"about seven, seven, if you quote"},{"speaker":"Alan Smith","startTime":1016.7389999999999,"endTime":1020.309,"body":"going back over 30 years, if you"},{"speaker":"Alan Smith","startTime":1016.7389999999999,"endTime":1020.309,"body":"quote, If the dividends were"},{"speaker":"Alan Smith","startTime":1020.309,"endTime":1024.449,"body":"included in that, guess what the"},{"speaker":"Alan Smith","startTime":1020.309,"endTime":1024.449,"body":"index would be as a number"},{"speaker":"Alan Smith","startTime":1024.479,"endTime":1027.6290000000001,"body":"included as a compound over the"},{"speaker":"Alan Smith","startTime":1024.479,"endTime":1027.6290000000001,"body":"period of time, I put you out"},{"speaker":"Alan Smith","startTime":1027.6290000000001,"endTime":1035.069,"body":"your misery 30 32,477. So gone"},{"speaker":"Alan Smith","startTime":1027.6290000000001,"endTime":1035.069,"body":"from ever it was over 25 years,"},{"speaker":"Alan Smith","startTime":1035.249,"endTime":1039.359,"body":"it would be compounded return"},{"speaker":"Alan Smith","startTime":1035.249,"endTime":1039.359,"body":"including the dividends over"},{"speaker":"Alan Smith","startTime":1039.359,"endTime":1043.8890000000001,"body":"32,000 as an index, and it's the"},{"speaker":"Alan Smith","startTime":1039.359,"endTime":1043.8890000000001,"body":"same for the s\u0026p. And most other"},{"speaker":"Alan Smith","startTime":1044.009,"endTime":1047.219,"body":"I think the German and the"},{"speaker":"Alan Smith","startTime":1044.009,"endTime":1047.219,"body":"Brazilian one are including"},{"speaker":"Alan Smith","startTime":1047.279,"endTime":1048.029,"body":"dividend paying."},{"speaker":"Andy Hart","startTime":1048.06,"endTime":1049.68,"body":"I've always wondered"},{"speaker":"Andy Hart","startTime":1048.06,"endTime":1049.68,"body":"that about the banks because the"},{"speaker":"Andy Hart","startTime":1049.68,"endTime":1052.56,"body":"DAX does outperform the footsie"},{"speaker":"Andy Hart","startTime":1049.68,"endTime":1052.56,"body":"and the CAC, that's why"},{"speaker":"Alan Smith","startTime":1052.56,"endTime":1056.52,"body":"Yeah, so yeah, it's"},{"speaker":"Alan Smith","startTime":1052.56,"endTime":1056.52,"body":"an so it does put to the US"},{"speaker":"Alan Smith","startTime":1056.52,"endTime":1059.6399999999999,"body":"faces, footsie footsie 100 would"},{"speaker":"Alan Smith","startTime":1056.52,"endTime":1059.6399999999999,"body":"have been a relatively"},{"speaker":"Alan Smith","startTime":1059.6399999999999,"endTime":1061.92,"body":"underperforming index compared"},{"speaker":"Alan Smith","startTime":1059.6399999999999,"endTime":1061.92,"body":"to course, the s\u0026p with all the"},{"speaker":"Alan Smith","startTime":1061.92,"endTime":1064.83,"body":"sort of tech companies over the"},{"speaker":"Alan Smith","startTime":1061.92,"endTime":1064.83,"body":"last 2030 years. But"},{"speaker":"Alan Smith","startTime":1064.83,"endTime":1066.75,"body":"nevertheless, it's very"},{"speaker":"Alan Smith","startTime":1064.83,"endTime":1066.75,"body":"misleading just to say it's gone"},{"speaker":"Alan Smith","startTime":1066.75,"endTime":1067.32,"body":"nowhere."},{"speaker":"Andy Hart","startTime":1067.59,"endTime":1069.12,"body":"I think I think I"},{"speaker":"Andy Hart","startTime":1067.59,"endTime":1069.12,"body":"think the period that we're"},{"speaker":"Andy Hart","startTime":1069.12,"endTime":1073.3799999999999,"body":"referring to was 38 years just"},{"speaker":"Andy Hart","startTime":1069.12,"endTime":1073.3799999999999,"body":"to put right on just just"},{"speaker":"Andy Hart","startTime":1073.3799999999999,"endTime":1075.09,"body":"quoting the article of junk."},{"speaker":"Nick Lincoln","startTime":1076.2,"endTime":1081.6,"body":"Okay, that's"},{"speaker":"Nick Lincoln","startTime":1076.2,"endTime":1081.6,"body":"interesting. Thank you. So 21st"},{"speaker":"Nick Lincoln","startTime":1081.6,"endTime":1089.1299999999999,"body":"of March 1924, an X pots and"},{"speaker":"Nick Lincoln","startTime":1081.6,"endTime":1089.1299999999999,"body":"pans traveling salesman in the"},{"speaker":"Nick Lincoln","startTime":1089.1299999999999,"endTime":1094.8,"body":"US came up with a marvelous"},{"speaker":"Nick Lincoln","startTime":1089.1299999999999,"endTime":1094.8,"body":"creation that has transformed"},{"speaker":"Nick Lincoln","startTime":1094.8,"endTime":1099.18,"body":"the lives of millions of people"},{"speaker":"Nick Lincoln","startTime":1094.8,"endTime":1099.18,"body":"around the world. And he gave us"},{"speaker":"Nick Lincoln","startTime":1099.21,"endTime":1102.12,"body":"in the financial planning"},{"speaker":"Nick Lincoln","startTime":1099.21,"endTime":1102.12,"body":"profession. It's really our"},{"speaker":"Nick Lincoln","startTime":1102.1499999999999,"endTime":1105.51,"body":"oxygen it was so immersed in"},{"speaker":"Nick Lincoln","startTime":1102.1499999999999,"endTime":1105.51,"body":"what this man invented that we"},{"speaker":"Nick Lincoln","startTime":1105.51,"endTime":1109.23,"body":"don't really see it we just take"},{"speaker":"Nick Lincoln","startTime":1105.51,"endTime":1109.23,"body":"it for granted. Edward Leffler"},{"speaker":"Nick Lincoln","startTime":1109.29,"endTime":1115.1399999999999,"body":"the pots and pans traveling"},{"speaker":"Nick Lincoln","startTime":1109.29,"endTime":1115.1399999999999,"body":"salesman somehow. And the"},{"speaker":"Nick Lincoln","startTime":1115.1399999999999,"endTime":1118.05,"body":"details on this a scant, and"},{"speaker":"Nick Lincoln","startTime":1115.1399999999999,"endTime":1118.05,"body":"I'll explain why in a minute, he"},{"speaker":"Nick Lincoln","startTime":1118.05,"endTime":1121.3799999999999,"body":"came up with the idea of a"},{"speaker":"Nick Lincoln","startTime":1118.05,"endTime":1121.3799999999999,"body":"mutual fund of investors pooling"},{"speaker":"Nick Lincoln","startTime":1121.3799999999999,"endTime":1125.58,"body":"their money together. And a firm"},{"speaker":"Nick Lincoln","startTime":1121.3799999999999,"endTime":1125.58,"body":"buying underlying securities"},{"speaker":"Nick Lincoln","startTime":1125.58,"endTime":1129.33,"body":"with that pool of money and"},{"speaker":"Nick Lincoln","startTime":1125.58,"endTime":1129.33,"body":"unitizing it and creating units"},{"speaker":"Nick Lincoln","startTime":1129.33,"endTime":1131.49,"body":"and then selling units when"},{"speaker":"Nick Lincoln","startTime":1129.33,"endTime":1131.49,"body":"clients wanted to get out and"},{"speaker":"Nick Lincoln","startTime":1131.49,"endTime":1135.72,"body":"sell. Edward Leffler the mutual"},{"speaker":"Nick Lincoln","startTime":1131.49,"endTime":1135.72,"body":"fund, I think about what we do"},{"speaker":"Nick Lincoln","startTime":1135.75,"endTime":1138.24,"body":"everything that we do,"},{"speaker":"Nick Lincoln","startTime":1135.75,"endTime":1138.24,"body":"everything that we do in terms"},{"speaker":"Nick Lincoln","startTime":1138.24,"endTime":1140.9099999999999,"body":"of planning for our clients and"},{"speaker":"Nick Lincoln","startTime":1138.24,"endTime":1140.9099999999999,"body":"investments is via mutual funds,"},{"speaker":"Nick Lincoln","startTime":1140.9099999999999,"endTime":1143.73,"body":"be that in ISIS be that in"},{"speaker":"Nick Lincoln","startTime":1140.9099999999999,"endTime":1143.73,"body":"pensions, be that in life"},{"speaker":"Nick Lincoln","startTime":1143.73,"endTime":1147.42,"body":"assurance bonds, and this guy,"},{"speaker":"Nick Lincoln","startTime":1143.73,"endTime":1147.42,"body":"Edward Leffler, who no one's"},{"speaker":"Nick Lincoln","startTime":1147.42,"endTime":1150.18,"body":"heard of created 100 years ago,"},{"speaker":"Nick Lincoln","startTime":1147.42,"endTime":1150.18,"body":"there's an excellent article in"},{"speaker":"Nick Lincoln","startTime":1150.18,"endTime":1152.67,"body":"the FT which I'll put a link to"},{"speaker":"Nick Lincoln","startTime":1150.18,"endTime":1152.67,"body":"in the so called show notes,"},{"speaker":"Nick Lincoln","startTime":1153.18,"endTime":1156.57,"body":"talking about it talking about"},{"speaker":"Nick Lincoln","startTime":1153.18,"endTime":1156.57,"body":"the rise of $63 trillion"},{"speaker":"Nick Lincoln","startTime":1157.17,"endTime":1160.17,"body":"globally or in this man's"},{"speaker":"Nick Lincoln","startTime":1157.17,"endTime":1160.17,"body":"creation and no one's heard of"},{"speaker":"Nick Lincoln","startTime":1160.17,"endTime":1163.11,"body":"him. I went on his Wikipedia"},{"speaker":"Nick Lincoln","startTime":1160.17,"endTime":1163.11,"body":"page it's like a paragraph"},{"speaker":"Nick Lincoln","startTime":1163.11,"endTime":1166.83,"body":"there's not even his date of"},{"speaker":"Nick Lincoln","startTime":1163.11,"endTime":1166.83,"body":"birth or date of death and I"},{"speaker":"Nick Lincoln","startTime":1166.83,"endTime":1168.93,"body":"don't know it's just just just"},{"speaker":"Nick Lincoln","startTime":1166.83,"endTime":1168.93,"body":"staggering but it this guy is"},{"speaker":"Nick Lincoln","startTime":1168.93,"endTime":1171.51,"body":"not more better than I also"},{"speaker":"Nick Lincoln","startTime":1168.93,"endTime":1171.51,"body":"staggering that as far as I'm"},{"speaker":"Nick Lincoln","startTime":1171.51,"endTime":1174.6,"body":"aware, the Financial Services"},{"speaker":"Nick Lincoln","startTime":1171.51,"endTime":1174.6,"body":"press didn't cover this at all."},{"speaker":"Nick Lincoln","startTime":1175.59,"endTime":1178.08,"body":"Now you could say you know well,"},{"speaker":"Nick Lincoln","startTime":1175.59,"endTime":1178.08,"body":"okay he created it for somebody"},{"speaker":"Nick Lincoln","startTime":1178.08,"endTime":1179.9099999999999,"body":"else would have done it they"},{"speaker":"Nick Lincoln","startTime":1178.08,"endTime":1179.9099999999999,"body":"Yeah, absolutely. Right. You"},{"speaker":"Nick Lincoln","startTime":1179.9099999999999,"endTime":1181.95,"body":"know, you said the same thing"},{"speaker":"Nick Lincoln","startTime":1179.9099999999999,"endTime":1181.95,"body":"about Merrill Lynch and the"},{"speaker":"Nick Lincoln","startTime":1181.95,"endTime":1185.07,"body":"first ever index tracking fund"},{"speaker":"Nick Lincoln","startTime":1181.95,"endTime":1185.07,"body":"and then John Bogle you know, on"},{"speaker":"Nick Lincoln","startTime":1185.07,"endTime":1187.92,"body":"the back of that they the first"},{"speaker":"Nick Lincoln","startTime":1185.07,"endTime":1187.92,"body":"people that make these first"},{"speaker":"Nick Lincoln","startTime":1187.92,"endTime":1190.77,"body":"things are the ones are the are"},{"speaker":"Nick Lincoln","startTime":1187.92,"endTime":1190.77,"body":"the people we look up to, and"},{"speaker":"Nick Lincoln","startTime":1191.1599999999999,"endTime":1193.1399999999999,"body":"want to thank you but left LA, I"},{"speaker":"Nick Lincoln","startTime":1191.1599999999999,"endTime":1193.1399999999999,"body":"don't know when you were born,"},{"speaker":"Nick Lincoln","startTime":1193.1399999999999,"endTime":1196.17,"body":"my friend, I'm your your long"},{"speaker":"Nick Lincoln","startTime":1193.1399999999999,"endTime":1196.17,"body":"dead. But so thank you, your"},{"speaker":"Nick Lincoln","startTime":1196.17,"endTime":1199.62,"body":"gift keeps on going. And now you"},{"speaker":"Nick Lincoln","startTime":1196.17,"endTime":1199.62,"body":"know, our clients can buy the"},{"speaker":"Nick Lincoln","startTime":1199.62,"endTime":1201.75,"body":"great companies of the world"},{"speaker":"Nick Lincoln","startTime":1199.62,"endTime":1201.75,"body":"through a couple of funds for"},{"speaker":"Nick Lincoln","startTime":1201.75,"endTime":1205.3799999999999,"body":"peanuts on the pound. It's just"},{"speaker":"Nick Lincoln","startTime":1201.75,"endTime":1205.3799999999999,"body":"remarkable. It's magic. Even 40"},{"speaker":"Nick Lincoln","startTime":1205.3799999999999,"endTime":1207.45,"body":"years ago, you'd have to go to a"},{"speaker":"Nick Lincoln","startTime":1205.3799999999999,"endTime":1207.45,"body":"stockbroker and they'd put"},{"speaker":"Nick Lincoln","startTime":1207.45,"endTime":1209.94,"body":"together a portfolio of"},{"speaker":"Nick Lincoln","startTime":1207.45,"endTime":1209.94,"body":"underlying shares for you, you"},{"speaker":"Nick Lincoln","startTime":1209.94,"endTime":1212.3999999999999,"body":"know that there were unit trusts"},{"speaker":"Nick Lincoln","startTime":1209.94,"endTime":1212.3999999999999,"body":"5040 years ago, but they were"},{"speaker":"Nick Lincoln","startTime":1212.3999999999999,"endTime":1216.72,"body":"very limited. And now it's just"},{"speaker":"Nick Lincoln","startTime":1212.3999999999999,"endTime":1216.72,"body":"an absolute gift. You can buy"},{"speaker":"Nick Lincoln","startTime":1216.72,"endTime":1220.26,"body":"world capitalism for nothing."},{"speaker":"Nick Lincoln","startTime":1216.72,"endTime":1220.26,"body":"Thanks for Thanks for being able"},{"speaker":"Nick Lincoln","startTime":1220.26,"endTime":1222.57,"body":"Leffler. So wherever you are my"},{"speaker":"Nick Lincoln","startTime":1220.26,"endTime":1222.57,"body":"friend, hopefully you're up"},{"speaker":"Nick Lincoln","startTime":1222.57,"endTime":1226.77,"body":"there your North not south."},{"speaker":"Nick Lincoln","startTime":1222.57,"endTime":1226.77,"body":"Thank you and we all we all swim"},{"speaker":"Nick Lincoln","startTime":1226.77,"endTime":1231.03,"body":"in your, in your ocean. You've"},{"speaker":"Nick Lincoln","startTime":1226.77,"endTime":1231.03,"body":"given us that that Get okay. Any"},{"speaker":"Nick Lincoln","startTime":1231.03,"endTime":1232.05,"body":"thoughts about that? Should I"},{"speaker":"Nick Lincoln","startTime":1231.03,"endTime":1232.05,"body":"move on?"},{"speaker":"Andy Hart","startTime":1232.32,"endTime":1233.79,"body":"There should be a"},{"speaker":"Andy Hart","startTime":1232.32,"endTime":1233.79,"body":"statue of him in the City of"},{"speaker":"Andy Hart","startTime":1233.79,"endTime":1235.26,"body":"London. We go there every year."},{"speaker":"Andy Hart","startTime":1233.79,"endTime":1235.26,"body":"It's"},{"speaker":"Nick Lincoln","startTime":1235.26,"endTime":1235.86,"body":"incredible."},{"speaker":"Andy Hart","startTime":1236.52,"endTime":1236.8799999999999,"body":"Thank you."},{"speaker":"Alan Smith","startTime":1237.78,"endTime":1240.1499999999999,"body":"I don't think he was"},{"speaker":"Alan Smith","startTime":1237.78,"endTime":1240.1499999999999,"body":"mentioned. We talked before but"},{"speaker":"Alan Smith","startTime":1240.1499999999999,"endTime":1243.03,"body":"the robin Wigglesworth book"},{"speaker":"Alan Smith","startTime":1240.1499999999999,"endTime":1243.03,"body":"where the whole history I mean,"},{"speaker":"Alan Smith","startTime":1243.03,"endTime":1246.12,"body":"that was That's the history of"},{"speaker":"Alan Smith","startTime":1243.03,"endTime":1246.12,"body":"indexing, I think. But he does"},{"speaker":"Alan Smith","startTime":1246.12,"endTime":1248.07,"body":"track it back to I can't"},{"speaker":"Alan Smith","startTime":1246.12,"endTime":1248.07,"body":"remember there's a French"},{"speaker":"Alan Smith","startTime":1248.07,"endTime":1250.86,"body":"mathematician that came up with"},{"speaker":"Alan Smith","startTime":1248.07,"endTime":1250.86,"body":"this is probably the yeah,"},{"speaker":"Alan Smith","startTime":1250.8899999999999,"endTime":1253.23,"body":"there's probably a few people"},{"speaker":"Alan Smith","startTime":1250.8899999999999,"endTime":1253.23,"body":"that were sort of contributed to"},{"speaker":"Alan Smith","startTime":1253.23,"endTime":1256.83,"body":"the idea over time, and there"},{"speaker":"Alan Smith","startTime":1253.23,"endTime":1256.83,"body":"was one individual who just did"},{"speaker":"Alan Smith","startTime":1256.83,"endTime":1259.56,"body":"it, it sort of built upon it,"},{"speaker":"Alan Smith","startTime":1256.83,"endTime":1259.56,"body":"but no, I'd never heard of him"},{"speaker":"Alan Smith","startTime":1259.98,"endTime":1261.18,"body":"before. And I don't the only"},{"speaker":"Nick Lincoln","startTime":1261.18,"endTime":1263.31,"body":"thing that pre"},{"speaker":"Nick Lincoln","startTime":1261.18,"endTime":1263.31,"body":"predated him with it in this"},{"speaker":"Nick Lincoln","startTime":1263.31,"endTime":1266.19,"body":"country, they we had to"},{"speaker":"Nick Lincoln","startTime":1263.31,"endTime":1266.19,"body":"Investment Trust, which started"},{"speaker":"Nick Lincoln","startTime":1266.19,"endTime":1268.98,"body":"in about the 1870s. But there"},{"speaker":"Nick Lincoln","startTime":1266.19,"endTime":1268.98,"body":"was their their closed ended"},{"speaker":"Nick Lincoln","startTime":1268.98,"endTime":1271.02,"body":"funds. And then right Mr."},{"speaker":"Nick Lincoln","startTime":1268.98,"endTime":1271.02,"body":"Leffler came up the idea for"},{"speaker":"Nick Lincoln","startTime":1271.02,"endTime":1274.32,"body":"these open ended funds, you"},{"speaker":"Nick Lincoln","startTime":1271.02,"endTime":1274.32,"body":"know, you could redeem units"},{"speaker":"Nick Lincoln","startTime":1274.6499999999999,"endTime":1277.23,"body":"when he needed to sell and it's"},{"speaker":"Nick Lincoln","startTime":1274.6499999999999,"endTime":1277.23,"body":"him. It's him. I mean, we're"},{"speaker":"Nick Lincoln","startTime":1277.23,"endTime":1281.01,"body":"just all immersed in his world."},{"speaker":"Nick Lincoln","startTime":1277.23,"endTime":1281.01,"body":"And he's enriched millions of"},{"speaker":"Nick Lincoln","startTime":1281.01,"endTime":1284.1299999999999,"body":"people who have been able to"},{"speaker":"Nick Lincoln","startTime":1281.01,"endTime":1284.1299999999999,"body":"access global capitalism,"},{"speaker":"Nick Lincoln","startTime":1284.3999999999999,"endTime":1288.51,"body":"easily, quickly with liquidity."},{"speaker":"Nick Lincoln","startTime":1284.3999999999999,"endTime":1288.51,"body":"And in today's world at almost"},{"speaker":"Nick Lincoln","startTime":1288.51,"endTime":1291.93,"body":"no cost. It's a bloody gift. And"},{"speaker":"Nick Lincoln","startTime":1288.51,"endTime":1291.93,"body":"sometimes we just don't see it"},{"speaker":"Nick Lincoln","startTime":1291.93,"endTime":1296.1599999999999,"body":"because we're so immersed in it."},{"speaker":"Nick Lincoln","startTime":1291.93,"endTime":1296.1599999999999,"body":"So there we go. Right. Yes, Mr."},{"speaker":"Nick Lincoln","startTime":1296.1599999999999,"endTime":1299.58,"body":"Hart cashflow, modelling that"},{"speaker":"Nick Lincoln","startTime":1296.1599999999999,"endTime":1299.58,"body":"thing that we talk about, which"},{"speaker":"Nick Lincoln","startTime":1299.58,"endTime":1303.33,"body":"I think so few actually do?"},{"speaker":"Nick Lincoln","startTime":1299.58,"endTime":1303.33,"body":"Yeah. So"},{"speaker":"Andy Hart","startTime":1303.33,"endTime":1305.1599999999999,"body":"cash flow modeling is"},{"speaker":"Andy Hart","startTime":1303.33,"endTime":1305.1599999999999,"body":"something that's been going on"},{"speaker":"Andy Hart","startTime":1305.1599999999999,"endTime":1308.04,"body":"for for decades, I suppose in"},{"speaker":"Andy Hart","startTime":1305.1599999999999,"endTime":1308.04,"body":"various different guises. But"},{"speaker":"Andy Hart","startTime":1308.04,"endTime":1312.12,"body":"now it's coming to the fore, and"},{"speaker":"Andy Hart","startTime":1308.04,"endTime":1312.12,"body":"the regulator is taking a keener"},{"speaker":"Andy Hart","startTime":1312.12,"endTime":1315.12,"body":"eye are keen to look in and look"},{"speaker":"Andy Hart","startTime":1312.12,"endTime":1315.12,"body":"at it. And they came out of a"},{"speaker":"Andy Hart","startTime":1315.12,"endTime":1318.03,"body":"recent article entitled"},{"speaker":"Andy Hart","startTime":1315.12,"endTime":1318.03,"body":"undertaking cash flow modeling"},{"speaker":"Andy Hart","startTime":1318.03,"endTime":1322.35,"body":"to demonstrate suitability of"},{"speaker":"Andy Hart","startTime":1318.03,"endTime":1322.35,"body":"retirement related advice. Long"},{"speaker":"Andy Hart","startTime":1322.35,"endTime":1325.5,"body":"story short, to be fair, to"},{"speaker":"Andy Hart","startTime":1322.35,"endTime":1325.5,"body":"them, it's quite a decent"},{"speaker":"Andy Hart","startTime":1326.61,"endTime":1330.09,"body":"article really the way they've"},{"speaker":"Andy Hart","startTime":1326.61,"endTime":1330.09,"body":"gone through it. I mean, to"},{"speaker":"Andy Hart","startTime":1330.09,"endTime":1333.75,"body":"start off with, I mean, I think"},{"speaker":"Andy Hart","startTime":1330.09,"endTime":1333.75,"body":"it was, as a result of a lot of"},{"speaker":"Andy Hart","startTime":1333.75,"endTime":1339.27,"body":"DB transfer work, where people"},{"speaker":"Andy Hart","startTime":1333.75,"endTime":1339.27,"body":"were using cash flow modeling or"},{"speaker":"Andy Hart","startTime":1339.27,"endTime":1342.45,"body":"financial forecasting, to"},{"speaker":"Andy Hart","startTime":1339.27,"endTime":1342.45,"body":"demonstrate the suitability of"},{"speaker":"Andy Hart","startTime":1342.45,"endTime":1345.24,"body":"transferring from a dbx world to"},{"speaker":"Andy Hart","startTime":1342.45,"endTime":1345.24,"body":"a DC world. So they obviously"},{"speaker":"Andy Hart","startTime":1345.24,"endTime":1348.33,"body":"wanted to take a closer, closer"},{"speaker":"Andy Hart","startTime":1345.24,"endTime":1348.33,"body":"look at it. But then they start"},{"speaker":"Andy Hart","startTime":1348.33,"endTime":1352.1399999999999,"body":"off the article with many firms"},{"speaker":"Andy Hart","startTime":1348.33,"endTime":1352.1399999999999,"body":"use cash flow modeling, I mean,"},{"speaker":"Andy Hart","startTime":1352.1399999999999,"endTime":1355.86,"body":"please tell me how on earth you"},{"speaker":"Andy Hart","startTime":1352.1399999999999,"endTime":1355.86,"body":"can advise, you know, an"},{"speaker":"Andy Hart","startTime":1355.86,"endTime":1359.52,"body":"individual or a couple about"},{"speaker":"Andy Hart","startTime":1355.86,"endTime":1359.52,"body":"their retirement without using"},{"speaker":"Andy Hart","startTime":1359.52,"endTime":1363.18,"body":"some sort of forecasting"},{"speaker":"Andy Hart","startTime":1359.52,"endTime":1363.18,"body":"spreadsheet calculator or thing?"},{"speaker":"Andy Hart","startTime":1363.54,"endTime":1365.52,"body":"Oh, yeah, you're going to be"},{"speaker":"Andy Hart","startTime":1363.54,"endTime":1365.52,"body":"fine into retirement, or I think"},{"speaker":"Andy Hart","startTime":1365.52,"endTime":1368.37,"body":"it should say more of your time."},{"speaker":"Andy Hart","startTime":1365.52,"endTime":1368.37,"body":"There's no context to it. So I"},{"speaker":"Andy Hart","startTime":1368.37,"endTime":1371.61,"body":"think there needs to be a bit"},{"speaker":"Andy Hart","startTime":1368.37,"endTime":1371.61,"body":"more forceful with the language"},{"speaker":"Andy Hart","startTime":1371.61,"endTime":1374.7,"body":"I use around this. But anyway,"},{"speaker":"Andy Hart","startTime":1371.61,"endTime":1374.7,"body":"moving on from that, and then"},{"speaker":"Andy Hart","startTime":1374.7,"endTime":1378.72,"body":"it's got examples of good"},{"speaker":"Andy Hart","startTime":1374.7,"endTime":1378.72,"body":"practice, bad practice. And it's"},{"speaker":"Andy Hart","startTime":1378.72,"endTime":1381.36,"body":"just split into various"},{"speaker":"Andy Hart","startTime":1378.72,"endTime":1381.36,"body":"different sections. It's not"},{"speaker":"Andy Hart","startTime":1381.36,"endTime":1384.03,"body":"that long, it'll take you about"},{"speaker":"Andy Hart","startTime":1381.36,"endTime":1384.03,"body":"10 minutes to read it, I reckon"},{"speaker":"Andy Hart","startTime":1384.03,"endTime":1387.84,"body":"it's worth you having a look,"},{"speaker":"Andy Hart","startTime":1384.03,"endTime":1387.84,"body":"experienced financial planners"},{"speaker":"Andy Hart","startTime":1387.84,"endTime":1389.55,"body":"who have been financial"},{"speaker":"Andy Hart","startTime":1387.84,"endTime":1389.55,"body":"forecasting with their clients"},{"speaker":"Andy Hart","startTime":1389.55,"endTime":1393.3,"body":"for years, we're very aware of"},{"speaker":"Andy Hart","startTime":1389.55,"endTime":1393.3,"body":"the limitations. We're very"},{"speaker":"Andy Hart","startTime":1393.3,"endTime":1396.84,"body":"aware of the pros of using it."},{"speaker":"Andy Hart","startTime":1393.3,"endTime":1396.84,"body":"And we know the impact that it"},{"speaker":"Andy Hart","startTime":1396.84,"endTime":1399.54,"body":"has, I've been building"},{"speaker":"Andy Hart","startTime":1396.84,"endTime":1399.54,"body":"financial plans now for 14 years"},{"speaker":"Andy Hart","startTime":1399.54,"endTime":1403.08,"body":"with my clients. And often in"},{"speaker":"Andy Hart","startTime":1399.54,"endTime":1403.08,"body":"client meetings. Now I'll go"},{"speaker":"Andy Hart","startTime":1403.08,"endTime":1407.22,"body":"back 10 years ago, and I'll say"},{"speaker":"Andy Hart","startTime":1403.08,"endTime":1407.22,"body":"10 years ago, this is where we"},{"speaker":"Andy Hart","startTime":1407.22,"endTime":1410.07,"body":"said you're going to be in 2014."},{"speaker":"Andy Hart","startTime":1407.22,"endTime":1410.07,"body":"Do you want to play an IC?"},{"speaker":"Alan Smith","startTime":1411.87,"endTime":1413.73,"body":"O, we've had this"},{"speaker":"Alan Smith","startTime":1411.87,"endTime":1413.73,"body":"before"},{"speaker":"Unknown","startTime":1417.3,"endTime":1422.25,"body":"the the UltraGrip a"},{"speaker":"Unknown","startTime":1417.3,"endTime":1422.25,"body":"Darren Andy knows about"},{"speaker":"Unknown","startTime":1422.25,"endTime":1428.1,"body":"everything. Andy can be told"},{"speaker":"Unknown","startTime":1422.25,"endTime":1428.1,"body":"anything, his name is Andrew"},{"speaker":"Unknown","startTime":1428.1,"endTime":1428.7,"body":"Hart."},{"speaker":"Andy Hart","startTime":1432.75,"endTime":1435.09,"body":"So yeah, to"},{"speaker":"Andy Hart","startTime":1432.75,"endTime":1435.09,"body":"summarize, it's a decent"},{"speaker":"Andy Hart","startTime":1435.09,"endTime":1438.24,"body":"article, those of us who've been"},{"speaker":"Andy Hart","startTime":1435.09,"endTime":1438.24,"body":"doing this for a while know, you"},{"speaker":"Andy Hart","startTime":1438.24,"endTime":1440.76,"body":"know how useful this type of"},{"speaker":"Andy Hart","startTime":1438.24,"endTime":1440.76,"body":"software technology is to"},{"speaker":"Andy Hart","startTime":1440.76,"endTime":1444.21,"body":"implement in your real financial"},{"speaker":"Andy Hart","startTime":1440.76,"endTime":1444.21,"body":"planning business. And it's"},{"speaker":"Andy Hart","startTime":1444.21,"endTime":1448.6499999999999,"body":"scary, how accurate I've been"},{"speaker":"Andy Hart","startTime":1444.21,"endTime":1448.6499999999999,"body":"telling clients where they're"},{"speaker":"Andy Hart","startTime":1448.6499999999999,"endTime":1451.98,"body":"going to be 2020. Again, I'm not"},{"speaker":"Andy Hart","startTime":1448.6499999999999,"endTime":1451.98,"body":"playing. You know, as we know, a"},{"speaker":"Andy Hart","startTime":1451.98,"endTime":1454.92,"body":"lot of the problems in this"},{"speaker":"Andy Hart","startTime":1451.98,"endTime":1454.92,"body":"industry exist on fictitious"},{"speaker":"Andy Hart","startTime":1454.92,"endTime":1457.4099999999999,"body":"spreadsheets and in the brains"},{"speaker":"Andy Hart","startTime":1454.92,"endTime":1457.4099999999999,"body":"of consultants, you know, real"},{"speaker":"Andy Hart","startTime":1457.4099999999999,"endTime":1460.05,"body":"planners, in real people, you"},{"speaker":"Andy Hart","startTime":1457.4099999999999,"endTime":1460.05,"body":"know, experienced things in a"},{"speaker":"Andy Hart","startTime":1460.05,"endTime":1462.57,"body":"completely different way. But"},{"speaker":"Andy Hart","startTime":1460.05,"endTime":1462.57,"body":"yes, worth checking out the"},{"speaker":"Andy Hart","startTime":1462.57,"endTime":1465.09,"body":"article over to you or as they"},{"speaker":"Alan Smith","startTime":1465.09,"endTime":1467.97,"body":"talked to, they talk"},{"speaker":"Alan Smith","startTime":1465.09,"endTime":1467.97,"body":"about this, I think a skim read,"},{"speaker":"Alan Smith","startTime":1467.97,"endTime":1473.01,"body":"it's the differences kind of"},{"speaker":"Alan Smith","startTime":1467.97,"endTime":1473.01,"body":"what's it called, like, linear"},{"speaker":"Alan Smith","startTime":1473.01,"endTime":1477.0,"body":"projections versus is it"},{"speaker":"Alan Smith","startTime":1473.01,"endTime":1477.0,"body":"deterministic projections versus"},{"speaker":"Alan Smith","startTime":1478.59,"endTime":1482.37,"body":"the limitations of avoidant or"},{"speaker":"Alan Smith","startTime":1478.59,"endTime":1482.37,"body":"similar with just assuming the"},{"speaker":"Alan Smith","startTime":1482.37,"endTime":1486.36,"body":"same compound growth year by"},{"speaker":"Alan Smith","startTime":1482.37,"endTime":1486.36,"body":"year versus Abraham's"},{"speaker":"Nick Lincoln","startTime":1486.36,"endTime":1488.1299999999999,"body":"got bee in his"},{"speaker":"Nick Lincoln","startTime":1486.36,"endTime":1488.1299999999999,"body":"bonnet about this, you can look"},{"speaker":"Nick Lincoln","startTime":1488.1299999999999,"endTime":1490.53,"body":"at bloody Monte Carlo and your"},{"speaker":"Nick Lincoln","startTime":1488.1299999999999,"endTime":1490.53,"body":"time and that's all based on"},{"speaker":"Nick Lincoln","startTime":1490.53,"endTime":1495.3899999999999,"body":"past performance. You've got to"},{"speaker":"Nick Lincoln","startTime":1490.53,"endTime":1495.3899999999999,"body":"make some assumptions. Oh, it's"},{"speaker":"Nick Lincoln","startTime":1495.3899999999999,"endTime":1497.7,"body":"we keep saying is, I think I"},{"speaker":"Nick Lincoln","startTime":1495.3899999999999,"endTime":1497.7,"body":"think a lot of the max think"},{"speaker":"Nick Lincoln","startTime":1497.7,"endTime":1499.98,"body":"this is a science and you can"},{"speaker":"Nick Lincoln","startTime":1497.7,"endTime":1499.98,"body":"rationalize this down to the nth"},{"speaker":"Nick Lincoln","startTime":1499.98,"endTime":1505.11,"body":"degree. You can't you can only"},{"speaker":"Nick Lincoln","startTime":1499.98,"endTime":1505.11,"body":"get well, yeah, you"},{"speaker":"Alan Smith","startTime":1505.11,"endTime":1508.3799999999999,"body":"can look a lot of"},{"speaker":"Alan Smith","startTime":1505.11,"endTime":1508.3799999999999,"body":"the variability of the"},{"speaker":"Alan Smith","startTime":1508.3799999999999,"endTime":1511.29,"body":"assumptions. You can look at"},{"speaker":"Alan Smith","startTime":1508.3799999999999,"endTime":1511.29,"body":"sequence risk, you can look at"},{"speaker":"Alan Smith","startTime":1511.29,"endTime":1515.25,"body":"more things with a with a more"},{"speaker":"Alan Smith","startTime":1511.29,"endTime":1515.25,"body":"stochastic type model. What if"},{"speaker":"Alan Smith","startTime":1515.25,"endTime":1517.59,"body":"we had the I mean, you could do"},{"speaker":"Alan Smith","startTime":1515.25,"endTime":1517.59,"body":"invoice as well, you could you'd"},{"speaker":"Alan Smith","startTime":1517.59,"endTime":1519.81,"body":"have to just be very specific"},{"speaker":"Alan Smith","startTime":1517.59,"endTime":1519.81,"body":"around about the I guess you"},{"speaker":"Alan Smith","startTime":1519.81,"endTime":1522.1499999999999,"body":"call it a scenario plan where"},{"speaker":"Alan Smith","startTime":1519.81,"endTime":1522.1499999999999,"body":"you had negative returns for"},{"speaker":"Alan Smith","startTime":1522.1499999999999,"endTime":1525.54,"body":"five years. What if, what if"},{"speaker":"Alan Smith","startTime":1522.1499999999999,"endTime":1525.54,"body":"that specific"},{"speaker":"Andy Hart","startTime":1525.54,"endTime":1528.09,"body":"reply to your"},{"speaker":"Andy Hart","startTime":1525.54,"endTime":1528.09,"body":"question, Alan, no, this article"},{"speaker":"Andy Hart","startTime":1528.09,"endTime":1531.78,"body":"doesn't mention the limitations."},{"speaker":"Andy Hart","startTime":1528.09,"endTime":1531.78,"body":"pros cons of linear versus"},{"speaker":"Andy Hart","startTime":1531.87,"endTime":1536.52,"body":"stochastic. And again, something"},{"speaker":"Andy Hart","startTime":1531.87,"endTime":1536.52,"body":"like sequence risk, obviously,"},{"speaker":"Andy Hart","startTime":1536.58,"endTime":1538.77,"body":"predominantly exists in"},{"speaker":"Andy Hart","startTime":1536.58,"endTime":1538.77,"body":"spreadsheets and in the minds of"},{"speaker":"Andy Hart","startTime":1538.77,"endTime":1541.2,"body":"consultants, you know, show me a"},{"speaker":"Andy Hart","startTime":1538.77,"endTime":1541.2,"body":"real client has had an impact of"},{"speaker":"Andy Hart","startTime":1541.2,"endTime":1543.6599999999999,"body":"sequence sequence risk. I mean,"},{"speaker":"Andy Hart","startTime":1541.2,"endTime":1543.6599999999999,"body":"yes, I had loads of clients that"},{"speaker":"Andy Hart","startTime":1543.6599999999999,"endTime":1546.69,"body":"retired in 2020. Where's the"},{"speaker":"Andy Hart","startTime":1543.6599999999999,"endTime":1546.69,"body":"real impact? I know, but I'm"},{"speaker":"Andy Hart","startTime":1546.69,"endTime":1549.57,"body":"gonna show you a spreadsheet of"},{"speaker":"Andy Hart","startTime":1546.69,"endTime":1549.57,"body":"a fake client who invested in"},{"speaker":"Andy Hart","startTime":1549.57,"endTime":1552.48,"body":"the perfect day to end up"},{"speaker":"Andy Hart","startTime":1549.57,"endTime":1552.48,"body":"ravaging their portfolio in"},{"speaker":"Andy Hart","startTime":1552.48,"endTime":1554.52,"body":"retirement. It's like, that's"},{"speaker":"Andy Hart","startTime":1552.48,"endTime":1554.52,"body":"almost spreadsheet. Where's the"},{"speaker":"Andy Hart","startTime":1554.52,"endTime":1556.62,"body":"real people? That's what"},{"speaker":"Andy Hart","startTime":1554.52,"endTime":1556.62,"body":"stresses me out with that,"},{"speaker":"Andy Hart","startTime":1556.71,"endTime":1557.07,"body":"anyway."},{"speaker":"Carl Widger","startTime":1557.1,"endTime":1559.92,"body":"Yeah. And I think"},{"speaker":"Carl Widger","startTime":1557.1,"endTime":1559.92,"body":"to your point on the on that,"},{"speaker":"Carl Widger","startTime":1559.95,"endTime":1563.67,"body":"like, it's, it's, that's what"},{"speaker":"Carl Widger","startTime":1559.95,"endTime":1563.67,"body":"the review process is all about"},{"speaker":"Andy Hart","startTime":1563.7,"endTime":1566.34,"body":"iteration is having a"},{"speaker":"Andy Hart","startTime":1563.7,"endTime":1566.34,"body":"safety net cash."},{"speaker":"Carl Widger","startTime":1568.02,"endTime":1570.18,"body":"year on year on"},{"speaker":"Carl Widger","startTime":1568.02,"endTime":1570.18,"body":"year, you know, sequencing"},{"speaker":"Andy Hart","startTime":1570.18,"endTime":1573.51,"body":"risks ravages every"},{"speaker":"Andy Hart","startTime":1570.18,"endTime":1573.51,"body":"portfolio on a spreadsheet. And"},{"speaker":"Andy Hart","startTime":1573.51,"endTime":1573.6,"body":"the"},{"speaker":"Carl Widger","startTime":1573.6,"endTime":1575.22,"body":"other thing about"},{"speaker":"Carl Widger","startTime":1573.6,"endTime":1575.22,"body":"the other thing about the advice"},{"speaker":"Carl Widger","startTime":1575.22,"endTime":1578.43,"body":"that we do give our clients is,"},{"speaker":"Carl Widger","startTime":1575.22,"endTime":1578.43,"body":"you know, it's it's take the"},{"speaker":"Carl Widger","startTime":1578.43,"endTime":1582.42,"body":"complexity out of it for them,"},{"speaker":"Carl Widger","startTime":1578.43,"endTime":1582.42,"body":"as opposed to adding complexity"},{"speaker":"Carl Widger","startTime":1582.42,"endTime":1585.69,"body":"in and making Memorial all the"},{"speaker":"Carl Widger","startTime":1582.42,"endTime":1585.69,"body":"time. We had a client recently"},{"speaker":"Carl Widger","startTime":1585.69,"endTime":1589.08,"body":"who we brought on board eight"},{"speaker":"Carl Widger","startTime":1585.69,"endTime":1589.08,"body":"years ago, and this is exactly"},{"speaker":"Carl Widger","startTime":1589.08,"endTime":1592.32,"body":"what you're saying, Andy?"},{"speaker":"Carl Widger","startTime":1589.08,"endTime":1592.32,"body":"They're now transitioning into"},{"speaker":"Carl Widger","startTime":1592.32,"endTime":1595.4099999999999,"body":"that third act, right? Yep. And"},{"speaker":"Carl Widger","startTime":1592.32,"endTime":1595.4099999999999,"body":"the comments the couple made"},{"speaker":"Carl Widger","startTime":1595.4099999999999,"endTime":1600.54,"body":"was, it is actually amazing that"},{"speaker":"Carl Widger","startTime":1595.4099999999999,"endTime":1600.54,"body":"this plan has transpired as we"},{"speaker":"Carl Widger","startTime":1600.54,"endTime":1601.23,"body":"thought and as well,"},{"speaker":"Andy Hart","startTime":1601.23,"endTime":1603.3899999999999,"body":"yeah, honestly,"},{"speaker":"Andy Hart","startTime":1601.23,"endTime":1603.3899999999999,"body":"that's scary. Accurate."},{"speaker":"Carl Widger","startTime":1603.3899999999999,"endTime":1606.93,"body":"Yeah. And for sure,"},{"speaker":"Carl Widger","startTime":1603.3899999999999,"endTime":1606.93,"body":"it's a little bit different."},{"speaker":"Carl Widger","startTime":1606.93,"endTime":1609.75,"body":"Because it there's been tweaks"},{"speaker":"Carl Widger","startTime":1606.93,"endTime":1609.75,"body":"along the way and, you know,"},{"speaker":"Carl Widger","startTime":1609.75,"endTime":1613.62,"body":"they've, they've maybe some"},{"speaker":"Carl Widger","startTime":1609.75,"endTime":1613.62,"body":"goals have changed. But we've,"},{"speaker":"Carl Widger","startTime":1613.68,"endTime":1615.6299999999999,"body":"we've brought them on the"},{"speaker":"Carl Widger","startTime":1613.68,"endTime":1615.6299999999999,"body":"journey, and they're now"},{"speaker":"Carl Widger","startTime":1615.6299999999999,"endTime":1618.21,"body":"transitioning into the third"},{"speaker":"Carl Widger","startTime":1615.6299999999999,"endTime":1618.21,"body":"act. And they were like, you"},{"speaker":"Carl Widger","startTime":1618.21,"endTime":1621.6,"body":"know, super, I suppose chilled"},{"speaker":"Carl Widger","startTime":1618.21,"endTime":1621.6,"body":"out about the whole thing,"},{"speaker":"Carl Widger","startTime":1621.6,"endTime":1625.29,"body":"because they knew 234 years ago,"},{"speaker":"Carl Widger","startTime":1621.6,"endTime":1625.29,"body":"this was gonna happen, and it"},{"speaker":"Carl Widger","startTime":1625.29,"endTime":1630.09,"body":"did happen. And that's why I"},{"speaker":"Carl Widger","startTime":1625.29,"endTime":1630.09,"body":"don't believe in all those, you"},{"speaker":"Carl Widger","startTime":1630.09,"endTime":1633.3,"body":"know, Monte Carlo and all that"},{"speaker":"Carl Widger","startTime":1630.09,"endTime":1633.3,"body":"stuff. It's like, let's view"},{"speaker":"Carl Widger","startTime":1633.3,"endTime":1636.99,"body":"this as a process and just keep"},{"speaker":"Carl Widger","startTime":1633.3,"endTime":1636.99,"body":"reviewing, reviewing, reviewing,"},{"speaker":"Carl Widger","startTime":1637.02,"endTime":1638.31,"body":"Nick, thank"},{"speaker":"Nick Lincoln","startTime":1638.31,"endTime":1641.85,"body":"you. As I read an"},{"speaker":"Nick Lincoln","startTime":1638.31,"endTime":1641.85,"body":"article from a Georgia Atlanta"},{"speaker":"Nick Lincoln","startTime":1641.85,"endTime":1643.8,"body":"based advisor with Russ"},{"speaker":"Nick Lincoln","startTime":1641.85,"endTime":1643.8,"body":"Thornton, a good guy in the"},{"speaker":"Nick Lincoln","startTime":1643.8,"endTime":1647.79,"body":"States. And he said, you know,"},{"speaker":"Nick Lincoln","startTime":1643.8,"endTime":1647.79,"body":"what we always say it's, it's"},{"speaker":"Nick Lincoln","startTime":1647.79,"endTime":1651.87,"body":"the planning, not the plan."},{"speaker":"Nick Lincoln","startTime":1647.79,"endTime":1651.87,"body":"Clients want the verb they don't"},{"speaker":"Nick Lincoln","startTime":1651.87,"endTime":1654.24,"body":"want the noun. That's what I"},{"speaker":"Nick Lincoln","startTime":1651.87,"endTime":1654.24,"body":"like. They want the verb not the"},{"speaker":"Nick Lincoln","startTime":1654.24,"endTime":1656.73,"body":"noun. It's the planning, right?"},{"speaker":"Nick Lincoln","startTime":1654.24,"endTime":1656.73,"body":"You're adjusting. you're"},{"speaker":"Nick Lincoln","startTime":1656.73,"endTime":1658.98,"body":"adjusting the flight path all"},{"speaker":"Nick Lincoln","startTime":1656.73,"endTime":1658.98,"body":"through the years to get the"},{"speaker":"Nick Lincoln","startTime":1658.98,"endTime":1661.77,"body":"clients to the financial"},{"speaker":"Nick Lincoln","startTime":1658.98,"endTime":1661.77,"body":"nirvana. Slam is stillborn the"},{"speaker":"Nick Lincoln","startTime":1661.77,"endTime":1664.2,"body":"plan is dead in the water. The"},{"speaker":"Nick Lincoln","startTime":1661.77,"endTime":1664.2,"body":"moment the meetings over the"},{"speaker":"Nick Lincoln","startTime":1664.2,"endTime":1669.1499999999999,"body":"planning the verb is where the"},{"speaker":"Nick Lincoln","startTime":1664.2,"endTime":1669.1499999999999,"body":"action is daddio. Right. Good"},{"speaker":"Nick Lincoln","startTime":1669.1499999999999,"endTime":1670.83,"body":"call. Thank you for agreeing"},{"speaker":"Nick Lincoln","startTime":1669.1499999999999,"endTime":1670.83,"body":"even though you're muted. I can"},{"speaker":"Nick Lincoln","startTime":1670.83,"endTime":1673.29,"body":"see your lips moving. I think"},{"speaker":"Nick Lincoln","startTime":1670.83,"endTime":1673.29,"body":"that was a positive, positive"},{"speaker":"Nick Lincoln","startTime":1673.71,"endTime":1678.48,"body":"commendation, okay. For the 89th"},{"speaker":"Nick Lincoln","startTime":1673.71,"endTime":1678.48,"body":"time Metis Ireland, are you"},{"speaker":"Nick Lincoln","startTime":1678.48,"endTime":1678.87,"body":"hiring?"},{"speaker":"Carl Widger","startTime":1680.52,"endTime":1683.19,"body":"We are. So I put"},{"speaker":"Carl Widger","startTime":1680.52,"endTime":1683.19,"body":"this in because we are hiring at"},{"speaker":"Carl Widger","startTime":1683.19,"endTime":1687.42,"body":"the moment. So we will have a"},{"speaker":"Carl Widger","startTime":1683.19,"endTime":1687.42,"body":"couple of jobs going up and have"},{"speaker":"Carl Widger","startTime":1687.42,"endTime":1689.73,"body":"a look at our website. And the"},{"speaker":"Carl Widger","startTime":1687.42,"endTime":1689.73,"body":"reason I put it in because I"},{"speaker":"Carl Widger","startTime":1689.73,"endTime":1694.17,"body":"know there are tons and tons of"},{"speaker":"Carl Widger","startTime":1689.73,"endTime":1694.17,"body":"younger and very young advisors"},{"speaker":"Carl Widger","startTime":1694.35,"endTime":1697.8899999999999,"body":"are people starting out in their"},{"speaker":"Carl Widger","startTime":1694.35,"endTime":1697.8899999999999,"body":"career as financial planners. So"},{"speaker":"Carl Widger","startTime":1698.04,"endTime":1701.37,"body":"look, if you are Irish, you are"},{"speaker":"Carl Widger","startTime":1698.04,"endTime":1701.37,"body":"listening. Please keep an eye"},{"speaker":"Carl Widger","startTime":1701.37,"endTime":1703.83,"body":"out. We'd love to hear from you."},{"speaker":"Carl Widger","startTime":1701.37,"endTime":1703.83,"body":"That's it. Metis"},{"speaker":"Alan Smith","startTime":1703.86,"endTime":1706.71,"body":"Ireland, keeping the"},{"speaker":"Alan Smith","startTime":1703.86,"endTime":1706.71,"body":"Irish economy afloat with"},{"speaker":"Alan Smith","startTime":1706.71,"endTime":1709.11,"body":"another couple of hires. That's"},{"speaker":"Alan Smith","startTime":1706.71,"endTime":1709.11,"body":"quite a few hires you'd be"},{"speaker":"Alan Smith","startTime":1709.11,"endTime":1711.99,"body":"making the last year or so our"},{"speaker":"Alan Smith","startTime":1709.11,"endTime":1711.99,"body":"heart."},{"speaker":"Carl Widger","startTime":1713.37,"endTime":1715.3799999999999,"body":"And then also,"},{"speaker":"Carl Widger","startTime":1713.37,"endTime":1715.3799999999999,"body":"they'll also see that I was"},{"speaker":"Carl Widger","startTime":1715.3799999999999,"endTime":1720.06,"body":"deeply uncomfortable with the"},{"speaker":"Carl Widger","startTime":1715.3799999999999,"endTime":1720.06,"body":"content of some of today's going"},{"speaker":"Carl Widger","startTime":1720.06,"endTime":1724.08,"body":"to the Irish versus UK cultural"},{"speaker":"Carl Widger","startTime":1720.06,"endTime":1724.08,"body":"differences."},{"speaker":"Nick Lincoln","startTime":1732.06,"endTime":1734.28,"body":"Every time I play"},{"speaker":"Nick Lincoln","startTime":1732.06,"endTime":1734.28,"body":"that we get demonetized by"},{"speaker":"Nick Lincoln","startTime":1734.28,"endTime":1734.73,"body":"YouTube."},{"speaker":"Unknown","startTime":1735.27,"endTime":1738.42,"body":"So I don't even know"},{"speaker":"Unknown","startTime":1735.27,"endTime":1738.42,"body":"that mu is. All right. Not sure"},{"speaker":"Unknown","startTime":1738.42,"endTime":1739.17,"body":"why but that's totally"},{"speaker":"Carl Widger","startTime":1741.0,"endTime":1743.22,"body":"fine to me. But it"},{"speaker":"Carl Widger","startTime":1741.0,"endTime":1743.22,"body":"reminded me about the rugby."},{"speaker":"Carl Widger","startTime":1743.9099999999999,"endTime":1746.61,"body":"Thanks very much for reminding"},{"speaker":"Carl Widger","startTime":1743.9099999999999,"endTime":1746.61,"body":"me about we won the championship"},{"speaker":"Carl Widger","startTime":1746.61,"endTime":1747.51,"body":"again. And"},{"speaker":"Nick Lincoln","startTime":1748.4089999999999,"endTime":1749.309,"body":"let's be honest,"},{"speaker":"Nick Lincoln","startTime":1748.4089999999999,"endTime":1749.309,"body":"you scraped?"},{"speaker":"Carl Widger","startTime":1749.46,"endTime":1752.82,"body":"It was a little bit"},{"speaker":"Carl Widger","startTime":1749.46,"endTime":1752.82,"body":"muted, because frankly, we're"},{"speaker":"Carl Widger","startTime":1752.85,"endTime":1755.52,"body":"devastated. We didn't do the"},{"speaker":"Carl Widger","startTime":1752.85,"endTime":1755.52,"body":"Grand Slam very, very"},{"speaker":"Carl Widger","startTime":1755.52,"endTime":1756.33,"body":"disappointed."},{"speaker":"Andy Hart","startTime":1757.29,"endTime":1760.47,"body":"Do you not do the"},{"speaker":"Andy Hart","startTime":1757.29,"endTime":1760.47,"body":"Grand Slam who beat you? Can't"},{"speaker":"Andy Hart","startTime":1760.47,"endTime":1760.83,"body":"remember."},{"speaker":"Nick Lincoln","startTime":1763.68,"endTime":1766.86,"body":"Okay, Corrales"},{"speaker":"Nick Lincoln","startTime":1763.68,"endTime":1766.86,"body":"like jersey. This back I'm"},{"speaker":"Nick Lincoln","startTime":1766.86,"endTime":1770.61,"body":"corralling it back. Okay, we"},{"speaker":"Nick Lincoln","startTime":1766.86,"endTime":1770.61,"body":"mentioned how cash flow to"},{"speaker":"Nick Lincoln","startTime":1770.61,"endTime":1772.95,"body":"others to us. And I think a lot"},{"speaker":"Nick Lincoln","startTime":1770.61,"endTime":1772.95,"body":"of the trapeze is just, you"},{"speaker":"Nick Lincoln","startTime":1772.95,"endTime":1775.74,"body":"know, it's integral it's baked"},{"speaker":"Nick Lincoln","startTime":1772.95,"endTime":1775.74,"body":"into us and to do our job"},{"speaker":"Nick Lincoln","startTime":1775.98,"endTime":1779.46,"body":"without cash flow is to how do"},{"speaker":"Nick Lincoln","startTime":1775.98,"endTime":1779.46,"body":"you do it? Certainly how to"},{"speaker":"Nick Lincoln","startTime":1779.46,"endTime":1782.37,"body":"provide an ongoing financial"},{"speaker":"Nick Lincoln","startTime":1779.46,"endTime":1782.37,"body":"planning service without doing"},{"speaker":"Nick Lincoln","startTime":1782.46,"endTime":1785.9099999999999,"body":"annual update to the financial"},{"speaker":"Nick Lincoln","startTime":1782.46,"endTime":1785.9099999999999,"body":"plan. And the cash flow. I do"},{"speaker":"Nick Lincoln","startTime":1785.9099999999999,"endTime":1788.6399999999999,"body":"not know but I think a lot of"},{"speaker":"Nick Lincoln","startTime":1785.9099999999999,"endTime":1788.6399999999999,"body":"advisors and I think you know,"},{"speaker":"Nick Lincoln","startTime":1788.6399999999999,"endTime":1791.04,"body":"we the last episode, we talked"},{"speaker":"Nick Lincoln","startTime":1788.6399999999999,"endTime":1791.04,"body":"about this a little bit with"},{"speaker":"Nick Lincoln","startTime":1791.04,"endTime":1794.73,"body":"randoms in James's place. If you"},{"speaker":"Nick Lincoln","startTime":1791.04,"endTime":1794.73,"body":"think St. James's place are the"},{"speaker":"Nick Lincoln","startTime":1794.73,"endTime":1798.18,"body":"only people who are going to"},{"speaker":"Nick Lincoln","startTime":1794.73,"endTime":1798.18,"body":"suffer from this burgeoning"},{"speaker":"Nick Lincoln","startTime":1798.21,"endTime":1801.72,"body":"story about people paying for"},{"speaker":"Nick Lincoln","startTime":1798.21,"endTime":1801.72,"body":"advice, ongoing advice. I'm not"},{"speaker":"Nick Lincoln","startTime":1801.72,"endTime":1806.8799999999999,"body":"getting it. I've got a bridge to"},{"speaker":"Nick Lincoln","startTime":1801.72,"endTime":1806.8799999999999,"body":"sell you. And Mr. Smith, the"},{"speaker":"Nick Lincoln","startTime":1806.8799999999999,"endTime":1810.81,"body":"thematic review of our regulator"},{"speaker":"Nick Lincoln","startTime":1806.8799999999999,"endTime":1810.81,"body":"fees for no service. Well,"},{"speaker":"Alan Smith","startTime":1810.84,"endTime":1813.57,"body":"that is not"},{"speaker":"Alan Smith","startTime":1810.84,"endTime":1813.57,"body":"specifically about that, but the"},{"speaker":"Alan Smith","startTime":1813.75,"endTime":1817.8,"body":"reference so let me just start"},{"speaker":"Alan Smith","startTime":1813.75,"endTime":1817.8,"body":"at the beginning. There is a new"},{"speaker":"Alan Smith","startTime":1817.8,"endTime":1822.54,"body":"thematic review, which was"},{"speaker":"Alan Smith","startTime":1817.8,"endTime":1822.54,"body":"issued last week by the FCA on"},{"speaker":"Alan Smith","startTime":1822.54,"endTime":1825.21,"body":"the subjects of retirement"},{"speaker":"Alan Smith","startTime":1822.54,"endTime":1825.21,"body":"planning retirement income"},{"speaker":"Alan Smith","startTime":1825.21,"endTime":1829.1399999999999,"body":"advice. It's about 56 pages."},{"speaker":"Alan Smith","startTime":1825.21,"endTime":1829.1399999999999,"body":"I've read them all have"},{"speaker":"Alan Smith","startTime":1829.1399999999999,"endTime":1831.93,"body":"highlighted parts It's a"},{"speaker":"Alan Smith","startTime":1829.1399999999999,"endTime":1831.93,"body":"worthwhile read all of it is"},{"speaker":"Alan Smith","startTime":1831.93,"endTime":1835.26,"body":"right at the sort of sharp end"},{"speaker":"Alan Smith","startTime":1831.93,"endTime":1835.26,"body":"of where I think all of us are"},{"speaker":"Alan Smith","startTime":1835.26,"endTime":1840.99,"body":"operate. So in line with the"},{"speaker":"Alan Smith","startTime":1835.26,"endTime":1840.99,"body":"style that FCA have got used to"},{"speaker":"Alan Smith","startTime":1840.99,"endTime":1843.57,"body":"doing now for many years, and I"},{"speaker":"Alan Smith","startTime":1840.99,"endTime":1843.57,"body":"think they do a pretty well, in"},{"speaker":"Alan Smith","startTime":1843.57,"endTime":1847.2,"body":"all fairness, the they have a"},{"speaker":"Alan Smith","startTime":1843.57,"endTime":1847.2,"body":"theme that their various themes"},{"speaker":"Alan Smith","startTime":1847.2,"endTime":1849.48,"body":"that they are focusing on the"},{"speaker":"Alan Smith","startTime":1847.2,"endTime":1849.48,"body":"see this the quote some"},{"speaker":"Alan Smith","startTime":1849.48,"endTime":1852.57,"body":"incredible numbers."},{"speaker":"Alan Smith","startTime":1849.48,"endTime":1852.57,"body":"Incidentally, the future, the"},{"speaker":"Alan Smith","startTime":1852.57,"endTime":1856.8,"body":"future for financial planners"},{"speaker":"Alan Smith","startTime":1852.57,"endTime":1856.8,"body":"worldwide in the UK is just"},{"speaker":"Alan Smith","startTime":1856.98,"endTime":1861.45,"body":"highly positive. The number of"},{"speaker":"Alan Smith","startTime":1856.98,"endTime":1861.45,"body":"people that are reaching age 65"},{"speaker":"Alan Smith","startTime":1861.45,"endTime":1865.17,"body":"Over the next 1020 years is just"},{"speaker":"Alan Smith","startTime":1861.45,"endTime":1865.17,"body":"fast, but I think by 2050, a"},{"speaker":"Alan Smith","startTime":1865.17,"endTime":1868.5,"body":"quarter of the UK population"},{"speaker":"Alan Smith","startTime":1865.17,"endTime":1868.5,"body":"will be over age 65 All of them"},{"speaker":"Alan Smith","startTime":1868.5,"endTime":1872.28,"body":"will need some sort of guidance"},{"speaker":"Alan Smith","startTime":1868.5,"endTime":1872.28,"body":"advice, you know, varying levels"},{"speaker":"Alan Smith","startTime":1872.31,"endTime":1876.18,"body":"levels. very simplistically,"},{"speaker":"Alan Smith","startTime":1872.31,"endTime":1876.18,"body":"they'll need some nudges and"},{"speaker":"Alan Smith","startTime":1876.18,"endTime":1879.93,"body":"guidance. So along to the right"},{"speaker":"Alan Smith","startTime":1876.18,"endTime":1879.93,"body":"isn't the right decision to us."},{"speaker":"Andy Hart","startTime":1879.99,"endTime":1885.51,"body":"10,000 people a day"},{"speaker":"Andy Hart","startTime":1879.99,"endTime":1885.51,"body":"aged 65 is obviously 1000. A day"},{"speaker":"Andy Hart","startTime":1885.51,"endTime":1886.8,"body":"in the UK. Yeah, the baby"},{"speaker":"Alan Smith","startTime":1886.8,"endTime":1890.3999999999999,"body":"boomer generation or"},{"speaker":"Alan Smith","startTime":1886.8,"endTime":1890.3999999999999,"body":"sort of reaching retirement age"},{"speaker":"Alan Smith","startTime":1890.43,"endTime":1894.21,"body":"over the next however many 1020"},{"speaker":"Alan Smith","startTime":1890.43,"endTime":1894.21,"body":"years extra. Now baby boomers,"},{"speaker":"Alan Smith","startTime":1894.21,"endTime":1899.1299999999999,"body":"these are all Gen X no Gen X. So"},{"speaker":"Alan Smith","startTime":1894.21,"endTime":1899.1299999999999,"body":"anyway is people labels, stupid"},{"speaker":"Alan Smith","startTime":1899.1299999999999,"endTime":1901.68,"body":"labels. Yeah. But people hitting"},{"speaker":"Alan Smith","startTime":1899.1299999999999,"endTime":1901.68,"body":"that you know that that pivotal"},{"speaker":"Alan Smith","startTime":1901.68,"endTime":1904.3799999999999,"body":"age when they are going into his"},{"speaker":"Alan Smith","startTime":1901.68,"endTime":1904.3799999999999,"body":"car refers to the third acts,"},{"speaker":"Alan Smith","startTime":1904.3799999999999,"endTime":1907.23,"body":"the numbers are huge. The"},{"speaker":"Alan Smith","startTime":1904.3799999999999,"endTime":1907.23,"body":"regulator rightly sees this as"},{"speaker":"Alan Smith","startTime":1907.56,"endTime":1910.4099999999999,"body":"an area of focus, because they"},{"speaker":"Alan Smith","startTime":1907.56,"endTime":1910.4099999999999,"body":"want to ensure that the public"},{"speaker":"Alan Smith","startTime":1910.4099999999999,"endTime":1914.3999999999999,"body":"gets good quality advice. And so"},{"speaker":"Alan Smith","startTime":1910.4099999999999,"endTime":1914.3999999999999,"body":"what they tend to do is they go"},{"speaker":"Alan Smith","startTime":1914.3999999999999,"endTime":1920.37,"body":"out and they choose randomly. In"},{"speaker":"Alan Smith","startTime":1914.3999999999999,"endTime":1920.37,"body":"this case, in this case, 977"},{"speaker":"Alan Smith","startTime":1920.3999999999999,"endTime":1924.57,"body":"Lucky firms were selected. And"},{"speaker":"Alan Smith","startTime":1920.3999999999999,"endTime":1924.57,"body":"they asked them to complete a"},{"speaker":"Alan Smith","startTime":1924.57,"endTime":1928.8899999999999,"body":"very detailed data submission."},{"speaker":"Alan Smith","startTime":1924.57,"endTime":1928.8899999999999,"body":"The link to it is in the paper."},{"speaker":"Alan Smith","startTime":1928.92,"endTime":1931.8,"body":"So you can see had you had been"},{"speaker":"Alan Smith","startTime":1928.92,"endTime":1931.8,"body":"one of the ones what they would"},{"speaker":"Alan Smith","startTime":1931.8,"endTime":1934.29,"body":"have asked you to provide. And I"},{"speaker":"Alan Smith","startTime":1931.8,"endTime":1934.29,"body":"think it's worthwhile everyone"},{"speaker":"Alan Smith","startTime":1934.44,"endTime":1936.87,"body":"taking a look at that and seeing"},{"speaker":"Alan Smith","startTime":1934.44,"endTime":1936.87,"body":"how confident they would be with"},{"speaker":"Alan Smith","startTime":1936.87,"endTime":1942.03,"body":"providing the data. They then"},{"speaker":"Alan Smith","startTime":1936.87,"endTime":1942.03,"body":"went on to conduct deskspace"},{"speaker":"Alan Smith","startTime":1942.03,"endTime":1947.8799999999999,"body":"reviews of files of 24 firms"},{"speaker":"Alan Smith","startTime":1942.03,"endTime":1947.8799999999999,"body":"that was selected. The Reading"},{"speaker":"Alan Smith","startTime":1947.8799999999999,"endTime":1950.8799999999999,"body":"isn't particularly great. In all"},{"speaker":"Alan Smith","startTime":1947.8799999999999,"endTime":1950.8799999999999,"body":"honesty, bear in mind this were"},{"speaker":"Alan Smith","startTime":1950.8799999999999,"endTime":1954.0,"body":"files that were you know, I"},{"speaker":"Alan Smith","startTime":1950.8799999999999,"endTime":1954.0,"body":"think I've wanted you know, to"},{"speaker":"Alan Smith","startTime":1954.03,"endTime":1957.6599999999999,"body":"you submit your best possible"},{"speaker":"Alan Smith","startTime":1954.03,"endTime":1957.6599999999999,"body":"file knowing the regulator"},{"speaker":"Alan Smith","startTime":1957.6599999999999,"endTime":1963.87,"body":"according to pull them apart and"},{"speaker":"Alan Smith","startTime":1957.6599999999999,"endTime":1963.87,"body":"give you their views on them. Of"},{"speaker":"Alan Smith","startTime":1963.87,"endTime":1968.1,"body":"the 24 firms a third were found"},{"speaker":"Alan Smith","startTime":1963.87,"endTime":1968.1,"body":"to be unsuitable. Either the"},{"speaker":"Alan Smith","startTime":1968.1,"endTime":1974.01,"body":"advice was wrong. Yeah, or it"},{"speaker":"Alan Smith","startTime":1968.1,"endTime":1974.01,"body":"was bad or there was missing"},{"speaker":"Alan Smith","startTime":1974.04,"endTime":1976.44,"body":"information. So you could say,"},{"speaker":"Alan Smith","startTime":1974.04,"endTime":1976.44,"body":"you know, glass half full or"},{"speaker":"Alan Smith","startTime":1976.44,"endTime":1978.93,"body":"glass half empty, two thirds"},{"speaker":"Alan Smith","startTime":1976.44,"endTime":1978.93,"body":"were good, well, fine, or"},{"speaker":"Alan Smith","startTime":1978.93,"endTime":1983.52,"body":"passed, and about a third thirds"},{"speaker":"Alan Smith","startTime":1978.93,"endTime":1983.52,"body":"pretty high, I would say that"},{"speaker":"Alan Smith","startTime":1983.52,"endTime":1987.81,"body":"weren't good. Interestingly,"},{"speaker":"Alan Smith","startTime":1983.52,"endTime":1987.81,"body":"they're quite they do bang on"},{"speaker":"Alan Smith","startTime":1987.81,"endTime":1990.57,"body":"about you better get ready for"},{"speaker":"Alan Smith","startTime":1987.81,"endTime":1990.57,"body":"that jingle at that drop. Again,"},{"speaker":"Alan Smith","startTime":1990.57,"endTime":1995.82,"body":"they do bang on quite a lot"},{"speaker":"Alan Smith","startTime":1990.57,"endTime":1995.82,"body":"about capacity for loss, and"},{"speaker":"Alan Smith","startTime":1995.82,"endTime":1998.28,"body":"have you making sure that you"},{"speaker":"Alan Smith","startTime":1995.82,"endTime":1998.28,"body":"have managed there, but again,"},{"speaker":"Alan Smith","startTime":1998.85,"endTime":2001.1299999999999,"body":"it's never prescriptive, which"},{"speaker":"Alan Smith","startTime":1998.85,"endTime":2001.1299999999999,"body":"is right, you can talk about"},{"speaker":"Alan Smith","startTime":2001.1299999999999,"endTime":2004.1599999999999,"body":"capacity for loss grasp capacity"},{"speaker":"Alan Smith","startTime":2001.1299999999999,"endTime":2004.1599999999999,"body":"for volatility, we all do this,"},{"speaker":"Alan Smith","startTime":2004.1599999999999,"endTime":2006.68,"body":"we might not specific"},{"speaker":"Alan Smith","startTime":2004.1599999999999,"endTime":2006.68,"body":"specifically refer to it as"},{"speaker":"Alan Smith","startTime":2006.68,"endTime":2007.1299999999999,"body":"that."},{"speaker":"Andy Hart","startTime":2007.22,"endTime":2010.46,"body":"But sorry, Alan, we"},{"speaker":"Andy Hart","startTime":2007.22,"endTime":2010.46,"body":"have a real life example, march"},{"speaker":"Andy Hart","startTime":2010.46,"endTime":2014.36,"body":"2020, the market declined by"},{"speaker":"Andy Hart","startTime":2010.46,"endTime":2014.36,"body":"minus 35%. In 30 days, everyone"},{"speaker":"Andy Hart","startTime":2060.44,"endTime":2062.39,"body":"apparently is capacity"},{"speaker":"Andy Hart","startTime":2060.44,"endTime":2062.39,"body":"philosophies triggered what"},{"speaker":"Andy Hart","startTime":2062.39,"endTime":2066.29,"body":"happened, almost nothing for"},{"speaker":"Andy Hart","startTime":2062.39,"endTime":2066.29,"body":"advise clients, most portfolios"},{"speaker":"Andy Hart","startTime":2066.29,"endTime":2070.82,"body":"are down 1015 2025 30%, during"},{"speaker":"Andy Hart","startTime":2066.29,"endTime":2070.82,"body":"that 30 year decline, everyone's"},{"speaker":"Andy Hart","startTime":2070.82,"endTime":2074.75,"body":"capacity for loss was triggered"},{"speaker":"Andy Hart","startTime":2070.82,"endTime":2074.75,"body":"according to some survey that"},{"speaker":"Andy Hart","startTime":2074.75,"endTime":2078.17,"body":"the field in what happens with"},{"speaker":"Andy Hart","startTime":2074.75,"endTime":2078.17,"body":"real clients, almost nothing."},{"speaker":"Andy Hart","startTime":2078.62,"endTime":2080.57,"body":"Whereas the people that are"},{"speaker":"Andy Hart","startTime":2078.62,"endTime":2080.57,"body":"banging on about capacity for"},{"speaker":"Andy Hart","startTime":2080.57,"endTime":2084.14,"body":"loss, what they say and in"},{"speaker":"Andy Hart","startTime":2080.57,"endTime":2084.14,"body":"hindsight, about March 2020,"},{"speaker":"Andy Hart","startTime":2084.32,"endTime":2086.33,"body":"nothing, no articles been"},{"speaker":"Andy Hart","startTime":2084.32,"endTime":2086.33,"body":"written."},{"speaker":"Alan Smith","startTime":2087.02,"endTime":2090.56,"body":"All I would say to"},{"speaker":"Alan Smith","startTime":2087.02,"endTime":2090.56,"body":"you, and anyone else listen to"},{"speaker":"Alan Smith","startTime":2090.56,"endTime":2093.68,"body":"this is just make sure that is"},{"speaker":"Alan Smith","startTime":2090.56,"endTime":2093.68,"body":"document a, your view is"},{"speaker":"Alan Smith","startTime":2093.68,"endTime":2097.31,"body":"documented, you put that"},{"speaker":"Alan Smith","startTime":2093.68,"endTime":2097.31,"body":"referencing some some data or"},{"speaker":"Alan Smith","startTime":2097.31,"endTime":2100.91,"body":"whatever, on your client file,"},{"speaker":"Alan Smith","startTime":2097.31,"endTime":2100.91,"body":"or you've got a generic company"},{"speaker":"Alan Smith","startTime":2100.91,"endTime":2103.49,"body":"style approach. This is how we"},{"speaker":"Alan Smith","startTime":2100.91,"endTime":2103.49,"body":"do it. They do talk about"},{"speaker":"Alan Smith","startTime":2103.52,"endTime":2107.69,"body":"interestingly about those who"},{"speaker":"Alan Smith","startTime":2103.52,"endTime":2107.69,"body":"use model portfolios, be it in"},{"speaker":"Alan Smith","startTime":2107.69,"endTime":2111.32,"body":"house constructed ones, or"},{"speaker":"Alan Smith","startTime":2107.69,"endTime":2111.32,"body":"external Have you got different"},{"speaker":"Alan Smith","startTime":2111.32,"endTime":2114.89,"body":"ones for the decumulation and"},{"speaker":"Alan Smith","startTime":2111.32,"endTime":2114.89,"body":"they use the word decumulation,"},{"speaker":"Alan Smith","startTime":2114.89,"endTime":2117.8,"body":"which is interesting, because it"},{"speaker":"Alan Smith","startTime":2114.89,"endTime":2117.8,"body":"wasn't really a word in the"},{"speaker":"Alan Smith","startTime":2117.8,"endTime":2121.46,"body":"past, but it's now an official"},{"speaker":"Alan Smith","startTime":2117.8,"endTime":2121.46,"body":"regulatory term. decumulation"},{"speaker":"Alan Smith","startTime":2121.46,"endTime":2124.7599999999998,"body":"shouldn't be anybody, any"},{"speaker":"Alan Smith","startTime":2121.46,"endTime":2124.7599999999998,"body":"regulators, and you're either in"},{"speaker":"Alan Smith","startTime":2124.7599999999998,"endTime":2127.46,"body":"your saving phase or you're"},{"speaker":"Alan Smith","startTime":2124.7599999999998,"endTime":2127.46,"body":"spending fees, but have you got"},{"speaker":"Alan Smith","startTime":2127.46,"endTime":2130.19,"body":"a different portfolio, but"},{"speaker":"Alan Smith","startTime":2127.46,"endTime":2130.19,"body":"again, so we don't we don't have"},{"speaker":"Alan Smith","startTime":2130.19,"endTime":2133.3399999999997,"body":"a specifically different one,"},{"speaker":"Alan Smith","startTime":2130.19,"endTime":2133.3399999999997,"body":"but we will have reasons as to"},{"speaker":"Alan Smith","startTime":2133.3399999999997,"endTime":2139.49,"body":"why we don't have a different"},{"speaker":"Alan Smith","startTime":2133.3399999999997,"endTime":2139.49,"body":"one. 10% the most recent data is"},{"speaker":"Alan Smith","startTime":2139.49,"endTime":2142.58,"body":"2022 Because I think we were"},{"speaker":"Alan Smith","startTime":2139.49,"endTime":2142.58,"body":"asked this and we talked about"},{"speaker":"Alan Smith","startTime":2142.58,"endTime":2144.95,"body":"this in the past as well. I"},{"speaker":"Alan Smith","startTime":2142.58,"endTime":2144.95,"body":"couldn't find any recent data"},{"speaker":"Alan Smith","startTime":2144.95,"endTime":2148.16,"body":"for how many people annuitized"},{"speaker":"Alan Smith","startTime":2144.95,"endTime":2148.16,"body":"because I think that was"},{"speaker":"Alan Smith","startTime":2148.16,"endTime":2152.21,"body":"relating to the lifestyle"},{"speaker":"Alan Smith","startTime":2148.16,"endTime":2152.21,"body":"lifestyle profiling funds. 10%"},{"speaker":"Alan Smith","startTime":2152.5699999999997,"endTime":2155.75,"body":"of outlets now advertising"},{"speaker":"Alan Smith","startTime":2152.5699999999997,"endTime":2155.75,"body":"market 2022 bought an annuity"},{"speaker":"Alan Smith","startTime":2155.75,"endTime":2157.94,"body":"with their funds. So it's"},{"speaker":"Alan Smith","startTime":2155.75,"endTime":2157.94,"body":"obviously it's a very minor part"},{"speaker":"Alan Smith","startTime":2157.94,"endTime":2161.21,"body":"of the market, but it's not"},{"speaker":"Alan Smith","startTime":2157.94,"endTime":2161.21,"body":"nothing is 10%. So is that good?"},{"speaker":"Nick Lincoln","startTime":2161.24,"endTime":2163.3399999999997,"body":"Is that the"},{"speaker":"Nick Lincoln","startTime":2161.24,"endTime":2163.3399999999997,"body":"advice? That's good advice? No,"},{"speaker":"Alan Smith","startTime":2163.699,"endTime":2166.519,"body":"I think it's, I"},{"speaker":"Alan Smith","startTime":2163.699,"endTime":2166.519,"body":"think it's all retail and must"},{"speaker":"Alan Smith","startTime":2166.519,"endTime":2172.999,"body":"be products. So, they within the"},{"speaker":"Alan Smith","startTime":2166.519,"endTime":2172.999,"body":"report, as I say it's worth"},{"speaker":"Alan Smith","startTime":2172.999,"endTime":2175.5789999999997,"body":"reading goes straight to the"},{"speaker":"Alan Smith","startTime":2172.999,"endTime":2175.5789999999997,"body":"bits about examples of good"},{"speaker":"Alan Smith","startTime":2175.5789999999997,"endTime":2179.3289999999997,"body":"practice. And I'm definitely you"},{"speaker":"Alan Smith","startTime":2175.5789999999997,"endTime":2179.3289999999997,"body":"know, I'm sort of asked few"},{"speaker":"Alan Smith","startTime":2179.3289999999997,"endTime":2182.149,"body":"colleagues around here what they"},{"speaker":"Alan Smith","startTime":2179.3289999999997,"endTime":2182.149,"body":"thought of it, we're generally"},{"speaker":"Alan Smith","startTime":2182.149,"endTime":2184.159,"body":"comfortable with sort of nodding"},{"speaker":"Alan Smith","startTime":2182.149,"endTime":2184.159,"body":"our head saying you would do"},{"speaker":"Alan Smith","startTime":2184.159,"endTime":2185.929,"body":"that we do that we do that"},{"speaker":"Alan Smith","startTime":2184.159,"endTime":2185.929,"body":"there's a couple of things,"},{"speaker":"Alan Smith","startTime":2185.929,"endTime":2188.419,"body":"well, we could probably tighten"},{"speaker":"Alan Smith","startTime":2185.929,"endTime":2188.419,"body":"up a little bit, we could be"},{"speaker":"Alan Smith","startTime":2188.419,"endTime":2191.3289999999997,"body":"slightly better. Everything"},{"speaker":"Alan Smith","startTime":2188.419,"endTime":2191.3289999999997,"body":"should be about, you know, small"},{"speaker":"Alan Smith","startTime":2191.3289999999997,"endTime":2193.999,"body":"improvements as time goes on. So"},{"speaker":"Alan Smith","startTime":2191.3289999999997,"endTime":2193.999,"body":"have a look at the examples of"},{"speaker":"Alan Smith","startTime":2193.999,"endTime":2196.399,"body":"good practice, you'll see some"},{"speaker":"Alan Smith","startTime":2193.999,"endTime":2196.399,"body":"of the, I mean, some examples of"},{"speaker":"Alan Smith","startTime":2196.399,"endTime":2199.279,"body":"bad practice or, frankly,"},{"speaker":"Alan Smith","startTime":2196.399,"endTime":2199.279,"body":"embarrassing for a profession. I"},{"speaker":"Alan Smith","startTime":2199.279,"endTime":2202.399,"body":"mean, some firms apparently,"},{"speaker":"Alan Smith","startTime":2199.279,"endTime":2202.399,"body":"just don't even have a register"},{"speaker":"Alan Smith","startTime":2202.399,"endTime":2204.8289999999997,"body":"of the work they've done, the"},{"speaker":"Alan Smith","startTime":2202.399,"endTime":2204.8289999999997,"body":"clients that they've, you know,"},{"speaker":"Alan Smith","startTime":2204.8289999999997,"endTime":2207.409,"body":"the products that they"},{"speaker":"Alan Smith","startTime":2204.8289999999997,"endTime":2207.409,"body":"recommended, and they can't,"},{"speaker":"Alan Smith","startTime":2208.3089999999997,"endTime":2210.739,"body":"they can't provide any data"},{"speaker":"Alan Smith","startTime":2208.3089999999997,"endTime":2210.739,"body":"around it without going into"},{"speaker":"Alan Smith","startTime":2210.739,"endTime":2213.529,"body":"individual files one at a time"},{"speaker":"Alan Smith","startTime":2210.739,"endTime":2213.529,"body":"and seeing what they did for the"},{"speaker":"Alan Smith","startTime":2213.529,"endTime":2216.169,"body":"client at the time, no"},{"speaker":"Alan Smith","startTime":2213.529,"endTime":2216.169,"body":"centralized data source, which"},{"speaker":"Alan Smith","startTime":2216.169,"endTime":2220.429,"body":"is just, you know, it's frankly,"},{"speaker":"Alan Smith","startTime":2216.169,"endTime":2220.429,"body":"ridiculous. But um, you know,"},{"speaker":"Alan Smith","startTime":2220.429,"endTime":2222.739,"body":"going back to your point at the"},{"speaker":"Alan Smith","startTime":2220.429,"endTime":2222.739,"body":"top of this particular section,"},{"speaker":"Alan Smith","startTime":2222.919,"endTime":2227.989,"body":"Nick, the the do talk through it"},{"speaker":"Alan Smith","startTime":2222.919,"endTime":2227.989,"body":"is not is definitely not the"},{"speaker":"Alan Smith","startTime":2227.989,"endTime":2232.219,"body":"core of this report. But they do"},{"speaker":"Alan Smith","startTime":2227.989,"endTime":2232.219,"body":"talk about how they identified a"},{"speaker":"Alan Smith","startTime":2232.219,"endTime":2236.0589999999997,"body":"number of areas where clients"},{"speaker":"Alan Smith","startTime":2232.219,"endTime":2236.0589999999997,"body":"had been paying for ongoing"},{"speaker":"Alan Smith","startTime":2236.0589999999997,"endTime":2240.949,"body":"advice and hadn't been receiving"},{"speaker":"Alan Smith","startTime":2236.0589999999997,"endTime":2240.949,"body":"it. And that I think, is the"},{"speaker":"Alan Smith","startTime":2240.949,"endTime":2243.679,"body":"canary in the coal mine here"},{"speaker":"Alan Smith","startTime":2240.949,"endTime":2243.679,"body":"talks about it before we talked"},{"speaker":"Alan Smith","startTime":2243.679,"endTime":2246.409,"body":"about the SJP case where they've"},{"speaker":"Alan Smith","startTime":2243.679,"endTime":2246.409,"body":"had to effectively write down"},{"speaker":"Alan Smith","startTime":2246.6189999999997,"endTime":2251.239,"body":"half a billion pounds. This is"},{"speaker":"Alan Smith","startTime":2246.6189999999997,"endTime":2251.239,"body":"huge. Again, anecdotally, I"},{"speaker":"Alan Smith","startTime":2251.239,"endTime":2252.979,"body":"think all of us, I certainly"},{"speaker":"Alan Smith","startTime":2251.239,"endTime":2252.979,"body":"have been involved with"},{"speaker":"Alan Smith","startTime":2252.979,"endTime":2256.339,"body":"conversations with just advisors"},{"speaker":"Alan Smith","startTime":2252.979,"endTime":2256.339,"body":"around the block for the last"},{"speaker":"Alan Smith","startTime":2256.399,"endTime":2260.749,"body":"month or so about this. And I"},{"speaker":"Alan Smith","startTime":2256.399,"endTime":2260.749,"body":"think it's huge. I think this"},{"speaker":"Alan Smith","startTime":2260.749,"endTime":2264.259,"body":"whole thing is huge. And I just"},{"speaker":"Alan Smith","startTime":2260.749,"endTime":2264.259,"body":"took that back of an envelope"},{"speaker":"Alan Smith","startTime":2264.679,"endTime":2268.0389999999998,"body":"calculations. So let's just see"},{"speaker":"Alan Smith","startTime":2264.679,"endTime":2268.0389999999998,"body":"the SGP number. You know,"},{"speaker":"Alan Smith","startTime":2268.0389999999998,"endTime":2271.7889999999998,"body":"they're a big institutionalized"},{"speaker":"Alan Smith","startTime":2268.0389999999998,"endTime":2271.7889999999998,"body":"company they've got access to"},{"speaker":"Alan Smith","startTime":2271.819,"endTime":2274.969,"body":"now that's one of the reasons"},{"speaker":"Alan Smith","startTime":2271.819,"endTime":2274.969,"body":"they discovered this, that"},{"speaker":"Alan Smith","startTime":2275.029,"endTime":2279.589,"body":"people weren't getting systems."},{"speaker":"Alan Smith","startTime":2275.029,"endTime":2279.589,"body":"And they estimate 5% of their"},{"speaker":"Alan Smith","startTime":2279.589,"endTime":2283.009,"body":"clients hadn't been getting"},{"speaker":"Alan Smith","startTime":2279.589,"endTime":2283.009,"body":"review and had been paying for"},{"speaker":"Alan Smith","startTime":2283.009,"endTime":2285.109,"body":"it. Hence, they've allocated"},{"speaker":"Alan Smith","startTime":2283.009,"endTime":2285.109,"body":"half a billion pounds to"},{"speaker":"Alan Smith","startTime":2285.109,"endTime":2288.169,"body":"effectively repay them for the"},{"speaker":"Alan Smith","startTime":2285.109,"endTime":2288.169,"body":"fees, they paid for something"},{"speaker":"Alan Smith","startTime":2288.169,"endTime":2291.709,"body":"that they never received. apply"},{"speaker":"Alan Smith","startTime":2288.169,"endTime":2291.709,"body":"that across to every firm or to"},{"speaker":"Alan Smith","startTime":2291.709,"endTime":2294.6189999999997,"body":"a lot of firms in the country,"},{"speaker":"Alan Smith","startTime":2291.709,"endTime":2294.6189999999997,"body":"justify percent, which I think"},{"speaker":"Alan Smith","startTime":2294.6189999999997,"endTime":2298.339,"body":"is pretty modest. Actually. I"},{"speaker":"Alan Smith","startTime":2294.6189999999997,"endTime":2298.339,"body":"think that's a low assumption."},{"speaker":"Alan Smith","startTime":2299.3289999999997,"endTime":2302.209,"body":"Take the average advice, just"},{"speaker":"Alan Smith","startTime":2299.3289999999997,"endTime":2302.209,"body":"say the average advisor has got"},{"speaker":"Alan Smith","startTime":2302.239,"endTime":2304.819,"body":"I mean, the numbers vary quite a"},{"speaker":"Alan Smith","startTime":2302.239,"endTime":2304.819,"body":"lot. I mean, some are"},{"speaker":"Alan Smith","startTime":2304.819,"endTime":2308.239,"body":"ridiculously high, be fair, but"},{"speaker":"Alan Smith","startTime":2304.819,"endTime":2308.239,"body":"average visor has got about 100"},{"speaker":"Alan Smith","startTime":2308.239,"endTime":2315.169,"body":"clients. Let's say they've been"},{"speaker":"Alan Smith","startTime":2308.239,"endTime":2315.169,"body":"paying three grand a year, as a"},{"speaker":"Alan Smith","startTime":2315.169,"endTime":2319.399,"body":"fee. Say, for example, that's"},{"speaker":"Alan Smith","startTime":2315.169,"endTime":2319.399,"body":"15,000 pounds, but that's going"},{"speaker":"Alan Smith","startTime":2319.399,"endTime":2323.629,"body":"to go back, certainly post RDR."},{"speaker":"Alan Smith","startTime":2319.399,"endTime":2323.629,"body":"Let's call it 10 years, as"},{"speaker":"Alan Smith","startTime":2323.629,"endTime":2330.109,"body":"15,000 pounds. times 10 was at"},{"speaker":"Alan Smith","startTime":2323.629,"endTime":2330.109,"body":"150,000 pounds per advisor,"},{"speaker":"Alan Smith","startTime":2330.769,"endTime":2333.3489999999997,"body":"compensation to be paid. You got"},{"speaker":"Alan Smith","startTime":2330.769,"endTime":2333.3489999999997,"body":"a firm with 10 advisors, you got"},{"speaker":"Alan Smith","startTime":2333.3489999999997,"endTime":2338.509,"body":"one and a half million pounds of"},{"speaker":"Alan Smith","startTime":2333.3489999999997,"endTime":2338.509,"body":"fees. The numbers could be quite"},{"speaker":"Alan Smith","startTime":2338.509,"endTime":2343.129,"body":"staggering, the impact that this"},{"speaker":"Alan Smith","startTime":2338.509,"endTime":2343.129,"body":"could have in the advice section"},{"speaker":"Alan Smith","startTime":2343.159,"endTime":2350.179,"body":"sector. do say so this is this"},{"speaker":"Alan Smith","startTime":2343.159,"endTime":2350.179,"body":"is not a thematic review, but"},{"speaker":"Alan Smith","startTime":2350.179,"endTime":2353.149,"body":"it's something has come out as a"},{"speaker":"Alan Smith","startTime":2350.179,"endTime":2353.149,"body":"result through the SGP thing."},{"speaker":"Alan Smith","startTime":2353.569,"endTime":2357.379,"body":"And there are firms with more"},{"speaker":"Alan Smith","startTime":2353.569,"endTime":2357.379,"body":"clients than SGP. I mean, I"},{"speaker":"Alan Smith","startTime":2357.379,"endTime":2359.479,"body":"think call you might be"},{"speaker":"Alan Smith","startTime":2357.379,"endTime":2359.479,"body":"mentioning something later on"},{"speaker":"Alan Smith","startTime":2359.509,"endTime":2363.319,"body":"about another big firm that's"},{"speaker":"Alan Smith","startTime":2359.509,"endTime":2363.319,"body":"been public about some stuff as"},{"speaker":"Alan Smith","startTime":2363.319,"endTime":2366.439,"body":"well. So I think this is just"},{"speaker":"Alan Smith","startTime":2363.319,"endTime":2366.439,"body":"you know, there's an underlying"},{"speaker":"Alan Smith","startTime":2366.469,"endTime":2369.199,"body":"I mean, I again, I've heard from"},{"speaker":"Alan Smith","startTime":2366.469,"endTime":2369.199,"body":"a couple of people that the"},{"speaker":"Alan Smith","startTime":2369.199,"endTime":2372.3489999999997,"body":"legal profession of sort of"},{"speaker":"Alan Smith","startTime":2369.199,"endTime":2372.3489999999997,"body":"licking their lips at the"},{"speaker":"Alan Smith","startTime":2372.3489999999997,"endTime":2374.5389999999998,"body":"prospect of future revenue"},{"speaker":"Alan Smith","startTime":2372.3489999999997,"endTime":2374.5389999999998,"body":"stream that they might get, how"},{"speaker":"Alan Smith","startTime":2374.5389999999998,"endTime":2377.3289999999997,"body":"easy would it be to see to"},{"speaker":"Alan Smith","startTime":2374.5389999999998,"endTime":2377.3289999999997,"body":"clients have you been contacted?"},{"speaker":"Alan Smith","startTime":2377.3289999999997,"endTime":2380.149,"body":"Have you heard a full review"},{"speaker":"Alan Smith","startTime":2377.3289999999997,"endTime":2380.149,"body":"full detailed review from what"},{"speaker":"Alan Smith","startTime":2380.149,"endTime":2382.159,"body":"she'd been paying for? We didn't"},{"speaker":"Alan Smith","startTime":2380.149,"endTime":2382.159,"body":"really forgot that you were"},{"speaker":"Alan Smith","startTime":2382.159,"endTime":2385.009,"body":"paying for it. Or we can get"},{"speaker":"Alan Smith","startTime":2382.159,"endTime":2385.009,"body":"your fees back for the last 10"},{"speaker":"Alan Smith","startTime":2385.009,"endTime":2389.029,"body":"years. For you. You know, that's"},{"speaker":"Alan Smith","startTime":2385.009,"endTime":2389.029,"body":"a nice slap PPI style windfall,"},{"speaker":"Alan Smith","startTime":2389.029,"endTime":2390.769,"body":"here's 10 or 15,000 pounds."},{"speaker":"Andy Hart","startTime":2391.85,"endTime":2394.37,"body":"Where did the FM's"},{"speaker":"Andy Hart","startTime":2391.85,"endTime":2394.37,"body":"fall into this island? Let's say"},{"speaker":"Andy Hart","startTime":2394.37,"endTime":2396.83,"body":"they're charging one and a half"},{"speaker":"Andy Hart","startTime":2394.37,"endTime":2396.83,"body":"2% a year to create a bag of"},{"speaker":"Andy Hart","startTime":2396.83,"endTime":2400.19,"body":"spanners investment portfolio"},{"speaker":"Andy Hart","startTime":2396.83,"endTime":2400.19,"body":"and extracts wealth, and they"},{"speaker":"Andy Hart","startTime":2400.19,"endTime":2402.95,"body":"can't prove that their funds are"},{"speaker":"Andy Hart","startTime":2400.19,"endTime":2402.95,"body":"outperforming you know,"},{"speaker":"Andy Hart","startTime":2402.98,"endTime":2405.74,"body":"straightforward index that's"},{"speaker":"Andy Hart","startTime":2402.98,"endTime":2405.74,"body":"different, that's"},{"speaker":"Alan Smith","startTime":2405.77,"endTime":2409.6099999999997,"body":"there's no guarantee"},{"speaker":"Alan Smith","startTime":2405.77,"endTime":2409.6099999999997,"body":"they are gonna outperform this,"},{"speaker":"Alan Smith","startTime":2409.67,"endTime":2411.5899999999997,"body":"there's a large expectation they"},{"speaker":"Alan Smith","startTime":2409.67,"endTime":2411.5899999999997,"body":"will underperform. But that's"},{"speaker":"Alan Smith","startTime":2411.5899999999997,"endTime":2414.77,"body":"not what they are guaranteed. So"},{"speaker":"Alan Smith","startTime":2411.5899999999997,"endTime":2414.77,"body":"everything comes down to your"},{"speaker":"Alan Smith","startTime":2414.77,"endTime":2418.91,"body":"terms of business, or the terms"},{"speaker":"Alan Smith","startTime":2414.77,"endTime":2418.91,"body":"the client signed. And I think"},{"speaker":"Alan Smith","startTime":2418.91,"endTime":2421.79,"body":"it's all a bit vague, because"},{"speaker":"Alan Smith","startTime":2418.91,"endTime":2421.79,"body":"oftentimes businesses will say,"},{"speaker":"Alan Smith","startTime":2421.8199999999997,"endTime":2423.74,"body":"we'll be as minimalist as"},{"speaker":"Alan Smith","startTime":2421.8199999999997,"endTime":2423.74,"body":"possible, we'll give you an"},{"speaker":"Alan Smith","startTime":2423.74,"endTime":2426.41,"body":"annual review, we'll say"},{"speaker":"Alan Smith","startTime":2423.74,"endTime":2426.41,"body":"something about what is in what"},{"speaker":"Alan Smith","startTime":2426.41,"endTime":2429.74,"body":"the body of the annual review"},{"speaker":"Alan Smith","startTime":2426.41,"endTime":2429.74,"body":"looks like, is vastly different."},{"speaker":"Alan Smith","startTime":2429.77,"endTime":2433.8199999999997,"body":"And I've talked about this in"},{"speaker":"Alan Smith","startTime":2429.77,"endTime":2433.8199999999997,"body":"the past, looking at how much"},{"speaker":"Alan Smith","startTime":2433.85,"endTime":2436.52,"body":"effort it takes for us as a firm"},{"speaker":"Alan Smith","startTime":2433.85,"endTime":2436.52,"body":"and we've done some some"},{"speaker":"Alan Smith","startTime":2436.52,"endTime":2438.92,"body":"analysis on it and the amount of"},{"speaker":"Alan Smith","startTime":2436.52,"endTime":2438.92,"body":"time it takes for us to do an"},{"speaker":"Alan Smith","startTime":2438.92,"endTime":2442.22,"body":"annual planning meeting. And"},{"speaker":"Alan Smith","startTime":2438.92,"endTime":2442.22,"body":"it's a lot because it's a you"},{"speaker":"Alan Smith","startTime":2442.22,"endTime":2444.71,"body":"know, it's a complex piece of"},{"speaker":"Alan Smith","startTime":2442.22,"endTime":2444.71,"body":"work that research needs to go"},{"speaker":"Alan Smith","startTime":2444.71,"endTime":2448.0699999999997,"body":"into the meeting has to be held"},{"speaker":"Alan Smith","startTime":2444.71,"endTime":2448.0699999999997,"body":"the follow ups as a bare"},{"speaker":"Alan Smith","startTime":2448.0699999999997,"endTime":2450.74,"body":"minimum, you've got to you've"},{"speaker":"Alan Smith","startTime":2448.0699999999997,"endTime":2450.74,"body":"got to reconfirm the suitability"},{"speaker":"Alan Smith","startTime":2450.92,"endTime":2454.37,"body":"of the advice that you gave Todd"},{"speaker":"Alan Smith","startTime":2450.92,"endTime":2454.37,"body":"months before 24 110 years ago,"},{"speaker":"Alan Smith","startTime":2454.43,"endTime":2457.67,"body":"whatever it is going to annually"},{"speaker":"Alan Smith","startTime":2454.43,"endTime":2457.67,"body":"reconfirm the suitability, in"},{"speaker":"Alan Smith","startTime":2457.67,"endTime":2459.5,"body":"order to reconfirm the"},{"speaker":"Alan Smith","startTime":2457.67,"endTime":2459.5,"body":"suitability, you need to know"},{"speaker":"Alan Smith","startTime":2459.5,"endTime":2461.72,"body":"the client's circumstances the"},{"speaker":"Alan Smith","startTime":2459.5,"endTime":2461.72,"body":"situation and you need to update"},{"speaker":"Alan Smith","startTime":2461.72,"endTime":2466.4,"body":"everything is updated everything"},{"speaker":"Alan Smith","startTime":2461.72,"endTime":2466.4,"body":"so there is no question about it"},{"speaker":"Alan Smith","startTime":2466.43,"endTime":2469.43,"body":"that there is a there are 1000s"},{"speaker":"Alan Smith","startTime":2466.43,"endTime":2469.43,"body":"of people across the country"},{"speaker":"Alan Smith","startTime":2469.43,"endTime":2472.58,"body":"who've been paying for advice,"},{"speaker":"Alan Smith","startTime":2469.43,"endTime":2472.58,"body":"and I've been receiving either"},{"speaker":"Alan Smith","startTime":2472.58,"endTime":2476.0899999999997,"body":"nothing or very sort of scant"},{"speaker":"Alan Smith","startTime":2472.58,"endTime":2476.0899999999997,"body":"information. Nick"},{"speaker":"Nick Lincoln","startTime":2477.2599999999998,"endTime":2479.5099999999998,"body":"Yes, I totally"},{"speaker":"Nick Lincoln","startTime":2477.2599999999998,"endTime":2479.5099999999998,"body":"agree with that, that there is"},{"speaker":"Nick Lincoln","startTime":2479.5099999999998,"endTime":2481.85,"body":"also an element of the fee."},{"speaker":"Nick Lincoln","startTime":2479.5099999999998,"endTime":2481.85,"body":"However, that means that clients"},{"speaker":"Nick Lincoln","startTime":2481.85,"endTime":2484.91,"body":"can phone us up and contact us"},{"speaker":"Nick Lincoln","startTime":2481.85,"endTime":2484.91,"body":"at any time. It's like a"},{"speaker":"Nick Lincoln","startTime":2484.91,"endTime":2487.7,"body":"retainer, isn't it? So we're not"},{"speaker":"Nick Lincoln","startTime":2484.91,"endTime":2487.7,"body":"running the clock whenever they"},{"speaker":"Nick Lincoln","startTime":2487.7,"endTime":2490.91,"body":"we write to them or email or"},{"speaker":"Nick Lincoln","startTime":2487.7,"endTime":2490.91,"body":"when they phone us in. So some"},{"speaker":"Andy Hart","startTime":2490.91,"endTime":2493.85,"body":"clients may or may"},{"speaker":"Andy Hart","startTime":2490.91,"endTime":2493.85,"body":"not know that, Nick, what is"},{"speaker":"Andy Hart","startTime":2493.85,"endTime":2495.17,"body":"your ego? And"},{"speaker":"Alan Smith","startTime":2495.23,"endTime":2497.75,"body":"if you're saying it,"},{"speaker":"Alan Smith","startTime":2495.23,"endTime":2497.75,"body":"yeah, yeah, I mean, that would"},{"speaker":"Alan Smith","startTime":2497.75,"endTime":2499.97,"body":"be pointless assess, I guess as"},{"speaker":"Alan Smith","startTime":2497.75,"endTime":2499.97,"body":"a small part of it, we're on"},{"speaker":"Alan Smith","startTime":2499.97,"endTime":2501.98,"body":"call whenever you want. It's not"},{"speaker":"Alan Smith","startTime":2499.97,"endTime":2501.98,"body":"it's not what people say I"},{"speaker":"Alan Smith","startTime":2501.98,"endTime":2502.85,"body":"wouldn't have expected. So"},{"speaker":"Andy Hart","startTime":2502.85,"endTime":2504.62,"body":"that's what we say to"},{"speaker":"Andy Hart","startTime":2502.85,"endTime":2504.62,"body":"clients when we take them on"},{"speaker":"Andy Hart","startTime":2504.62,"endTime":2508.37,"body":"board. People that don't operate"},{"speaker":"Andy Hart","startTime":2504.62,"endTime":2508.37,"body":"this ongoing proper full fat"},{"speaker":"Andy Hart","startTime":2508.37,"endTime":2510.7999999999997,"body":"financial planning type business"},{"speaker":"Andy Hart","startTime":2508.37,"endTime":2510.7999999999997,"body":"model might not say that they"},{"speaker":"Andy Hart","startTime":2510.7999999999997,"endTime":2514.3399999999997,"body":"might say, Done, your eyes is"},{"speaker":"Andy Hart","startTime":2510.7999999999997,"endTime":2514.3399999999997,"body":"done your pensions, goodbye. And"},{"speaker":"Andy Hart","startTime":2514.3399999999997,"endTime":2516.68,"body":"there's still taking a fee on"},{"speaker":"Andy Hart","startTime":2514.3399999999997,"endTime":2516.68,"body":"it. I mean, there's, there's so"},{"speaker":"Andy Hart","startTime":2516.68,"endTime":2517.19,"body":"many, you know,"},{"speaker":"Alan Smith","startTime":2517.19,"endTime":2518.9,"body":"what's quite"},{"speaker":"Alan Smith","startTime":2517.19,"endTime":2518.9,"body":"interesting as well. And again,"},{"speaker":"Alan Smith","startTime":2518.9,"endTime":2522.38,"body":"this came out just the stuff"},{"speaker":"Alan Smith","startTime":2518.9,"endTime":2522.38,"body":"about SGP, but applies to many,"},{"speaker":"Alan Smith","startTime":2522.38,"endTime":2525.5,"body":"many others. And other"},{"speaker":"Alan Smith","startTime":2522.38,"endTime":2525.5,"body":"conversations I've had, it's"},{"speaker":"Alan Smith","startTime":2525.5,"endTime":2530.27,"body":"interesting, because we don't we"},{"speaker":"Alan Smith","startTime":2525.5,"endTime":2530.27,"body":"often, we don't take much of an"},{"speaker":"Alan Smith","startTime":2530.27,"endTime":2532.88,"body":"onboarding fee and upfront"},{"speaker":"Alan Smith","startTime":2530.27,"endTime":2532.88,"body":"initial costs, unless we take we"},{"speaker":"Alan Smith","startTime":2532.88,"endTime":2536.48,"body":"take zero, as long as it's"},{"speaker":"Alan Smith","startTime":2532.88,"endTime":2536.48,"body":"relatively small, the default"},{"speaker":"Alan Smith","startTime":2536.48,"endTime":2541.22,"body":"model is 3%. Let's say you take"},{"speaker":"Alan Smith","startTime":2536.48,"endTime":2541.22,"body":"3% of assets. And also there is"},{"speaker":"Alan Smith","startTime":2541.64,"endTime":2544.97,"body":"a huge incentive to onboard"},{"speaker":"Alan Smith","startTime":2541.64,"endTime":2544.97,"body":"clients and take 3% of their"},{"speaker":"Alan Smith","startTime":2544.97,"endTime":2548.45,"body":"wealth as an initial provide no"},{"speaker":"Alan Smith","startTime":2544.97,"endTime":2548.45,"body":"service fee. And then that's it."},{"speaker":"Alan Smith","startTime":2548.48,"endTime":2552.74,"body":"And, again, the SJP thing was"},{"speaker":"Alan Smith","startTime":2548.48,"endTime":2552.74,"body":"all about incentives. And people"},{"speaker":"Alan Smith","startTime":2552.74,"endTime":2555.47,"body":"were getting rewarded. And"},{"speaker":"Alan Smith","startTime":2552.74,"endTime":2555.47,"body":"people were having, you know,"},{"speaker":"Alan Smith","startTime":2555.5,"endTime":2559.1,"body":"big celebration days and things"},{"speaker":"Alan Smith","startTime":2555.5,"endTime":2559.1,"body":"like that, for it was just, it's"},{"speaker":"Alan Smith","startTime":2559.13,"endTime":2561.83,"body":"as somebody referred to it. And"},{"speaker":"Alan Smith","startTime":2559.13,"endTime":2561.83,"body":"there's lots of big"},{"speaker":"Alan Smith","startTime":2561.8599999999997,"endTime":2565.3399999999997,"body":"organizations like this is"},{"speaker":"Alan Smith","startTime":2561.8599999999997,"endTime":2565.3399999999997,"body":"institutional asset gathering"},{"speaker":"Alan Smith","startTime":2565.37,"endTime":2569.0299999999997,"body":"where all the incentives are"},{"speaker":"Alan Smith","startTime":2565.37,"endTime":2569.0299999999997,"body":"onboarding assets. And then, and"},{"speaker":"Alan Smith","startTime":2569.0299999999997,"endTime":2571.22,"body":"then you just want to keep them"},{"speaker":"Alan Smith","startTime":2569.0299999999997,"endTime":2571.22,"body":"on board. And we're doing as"},{"speaker":"Alan Smith","startTime":2571.22,"endTime":2573.5299999999997,"body":"little as possible commercially,"},{"speaker":"Alan Smith","startTime":2571.22,"endTime":2573.5299999999997,"body":"you wanna do as little as"},{"speaker":"Alan Smith","startTime":2573.5299999999997,"endTime":2575.75,"body":"possible, because there's more"},{"speaker":"Alan Smith","startTime":2573.5299999999997,"endTime":2575.75,"body":"profit in doing that. But"},{"speaker":"Alan Smith","startTime":2575.99,"endTime":2579.35,"body":"legally, you're expected to do"},{"speaker":"Alan Smith","startTime":2575.99,"endTime":2579.35,"body":"something, Nick, it's"},{"speaker":"Nick Lincoln","startTime":2579.35,"endTime":2581.72,"body":"funny, but it's, I"},{"speaker":"Nick Lincoln","startTime":2579.35,"endTime":2581.72,"body":"mean, our business models here,"},{"speaker":"Nick Lincoln","startTime":2582.2599999999998,"endTime":2585.65,"body":"I like you, like I don't charge"},{"speaker":"Nick Lincoln","startTime":2582.2599999999998,"endTime":2585.65,"body":"for the initial financial plan,"},{"speaker":"Nick Lincoln","startTime":2585.65,"endTime":2587.54,"body":"I don't charge for the"},{"speaker":"Nick Lincoln","startTime":2585.65,"endTime":2587.54,"body":"onboarding, because the value to"},{"speaker":"Nick Lincoln","startTime":2587.5699999999997,"endTime":2591.08,"body":"be blunt, the value to me is and"},{"speaker":"Nick Lincoln","startTime":2587.5699999999997,"endTime":2591.08,"body":"the ongoing relationship with"},{"speaker":"Nick Lincoln","startTime":2591.08,"endTime":2593.45,"body":"the client for which they are"},{"speaker":"Nick Lincoln","startTime":2591.08,"endTime":2593.45,"body":"paying me for which I provide an"},{"speaker":"Nick Lincoln","startTime":2593.45,"endTime":2596.54,"body":"ongoing service. So that's the"},{"speaker":"Nick Lincoln","startTime":2593.45,"endTime":2596.54,"body":"bit that I absolutely focus on,"},{"speaker":"Nick Lincoln","startTime":2596.54,"endTime":2598.67,"body":"it's completely inverted to the"},{"speaker":"Nick Lincoln","startTime":2596.54,"endTime":2598.67,"body":"asset gathering."},{"speaker":"Carl Widger","startTime":2599.7799999999997,"endTime":2603.5899999999997,"body":"But that's why"},{"speaker":"Carl Widger","startTime":2599.7799999999997,"endTime":2603.5899999999997,"body":"Nick, the scaling of financial"},{"speaker":"Carl Widger","startTime":2603.5899999999997,"endTime":2607.52,"body":"planning firm is bloody hard."},{"speaker":"Carl Widger","startTime":2603.5899999999997,"endTime":2607.52,"body":"Yeah, that's why we have to hire"},{"speaker":"Carl Widger","startTime":2607.64,"endTime":2612.5899999999997,"body":"more staff, because we've"},{"speaker":"Carl Widger","startTime":2607.64,"endTime":2612.5899999999997,"body":"committed to proper real full"},{"speaker":"Carl Widger","startTime":2612.5899999999997,"endTime":2616.31,"body":"financial planning. So you got"},{"speaker":"Carl Widger","startTime":2612.5899999999997,"endTime":2616.31,"body":"to deliver the service. So like,"},{"speaker":"Carl Widger","startTime":2616.49,"endTime":2620.6,"body":"these the SJ peas of this world"},{"speaker":"Carl Widger","startTime":2616.49,"endTime":2620.6,"body":"who are trying to reinvent"},{"speaker":"Carl Widger","startTime":2620.6,"endTime":2623.7799999999997,"body":"themselves to offer this, it"},{"speaker":"Carl Widger","startTime":2620.6,"endTime":2623.7799999999997,"body":"ain't gonna be easy, it is not"},{"speaker":"Carl Widger","startTime":2623.7799999999997,"endTime":2624.29,"body":"going to be easy."},{"speaker":"Alan Smith","startTime":2625.609,"endTime":2628.3089999999997,"body":"Hit hugely as a"},{"speaker":"Alan Smith","startTime":2625.609,"endTime":2628.3089999999997,"body":"result, because bottom line, you"},{"speaker":"Alan Smith","startTime":2628.3089999999997,"endTime":2631.729,"body":"need more time, more people,"},{"speaker":"Alan Smith","startTime":2628.3089999999997,"endTime":2631.729,"body":"just more resources to deliver"},{"speaker":"Alan Smith","startTime":2631.729,"endTime":2632.3289999999997,"body":"this stuff."},{"speaker":"Carl Widger","startTime":2632.8399999999997,"endTime":2634.43,"body":"Yeah, lots of"},{"speaker":"Carl Widger","startTime":2632.8399999999997,"endTime":2634.43,"body":"expertise."},{"speaker":"Alan Smith","startTime":2636.38,"endTime":2638.12,"body":"Must have been a"},{"speaker":"Alan Smith","startTime":2636.38,"endTime":2638.12,"body":"gravy train for some of these"},{"speaker":"Alan Smith","startTime":2638.12,"endTime":2640.3399999999997,"body":"companies, if you can onboard"},{"speaker":"Alan Smith","startTime":2638.12,"endTime":2640.3399999999997,"body":"clients and take half percent or"},{"speaker":"Alan Smith","startTime":2640.3399999999997,"endTime":2645.2599999999998,"body":"1% a year of their generally"},{"speaker":"Alan Smith","startTime":2640.3399999999997,"endTime":2645.2599999999998,"body":"growing assets, and send out an"},{"speaker":"Alan Smith","startTime":2645.2599999999998,"endTime":2648.14,"body":"annual valuation statement or"},{"speaker":"Alan Smith","startTime":2645.2599999999998,"endTime":2648.14,"body":"something that that whatever was"},{"speaker":"Alan Smith","startTime":2648.14,"endTime":2649.49,"body":"being done or not"},{"speaker":"Carl Widger","startTime":2650.12,"endTime":2651.14,"body":"talked about in a"},{"speaker":"Carl Widger","startTime":2650.12,"endTime":2651.14,"body":"second."},{"speaker":"Nick Lincoln","startTime":2653.33,"endTime":2656.18,"body":"I'm just conscious"},{"speaker":"Nick Lincoln","startTime":2653.33,"endTime":2656.18,"body":"that we're gonna have an hour on"},{"speaker":"Nick Lincoln","startTime":2656.18,"endTime":2659.0899999999997,"body":"this, but apparently call them"},{"speaker":"Nick Lincoln","startTime":2656.18,"endTime":2659.0899999999997,"body":"in some people don't even need"},{"speaker":"Nick Lincoln","startTime":2659.0899999999997,"endTime":2661.31,"body":"advice anyway. Do they? Yeah."},{"speaker":"Carl Widger","startTime":2661.31,"endTime":2663.62,"body":"So this is an"},{"speaker":"Carl Widger","startTime":2661.31,"endTime":2663.62,"body":"article that I came across"},{"speaker":"Carl Widger","startTime":2663.62,"endTime":2667.67,"body":"during the week. So the true I'm"},{"speaker":"Carl Widger","startTime":2663.62,"endTime":2667.67,"body":"actually not that familiar with"},{"speaker":"Carl Widger","startTime":2667.67,"endTime":2671.81,"body":"this firm. It's a UK based firm,"},{"speaker":"Carl Widger","startTime":2667.67,"endTime":2671.81,"body":"true potential. I have heard of"},{"speaker":"Carl Widger","startTime":2671.81,"endTime":2675.3199999999997,"body":"them. But you guys will be a lot"},{"speaker":"Carl Widger","startTime":2671.81,"endTime":2675.3199999999997,"body":"more familiar. But their CEO was"},{"speaker":"Carl Widger","startTime":2675.3199999999997,"endTime":2679.7,"body":"interviewed. And he said, most"},{"speaker":"Carl Widger","startTime":2675.3199999999997,"endTime":2679.7,"body":"clients don't need advice."},{"speaker":"Carl Widger","startTime":2679.88,"endTime":2683.2999999999997,"body":"Right? Just straight out that he"},{"speaker":"Carl Widger","startTime":2679.88,"endTime":2683.2999999999997,"body":"was quoted saying, it's very"},{"speaker":"Carl Widger","startTime":2683.2999999999997,"endTime":2687.02,"body":"rare. Our clients need advice."},{"speaker":"Carl Widger","startTime":2683.2999999999997,"endTime":2687.02,"body":"That's exactly what he said. And"},{"speaker":"Carl Widger","startTime":2687.02,"endTime":2689.24,"body":"so then when you kind of read"},{"speaker":"Carl Widger","startTime":2687.02,"endTime":2689.24,"body":"out of the article, it says, you"},{"speaker":"Carl Widger","startTime":2689.24,"endTime":2693.71,"body":"know, they use their inverted"},{"speaker":"Carl Widger","startTime":2689.24,"endTime":2693.71,"body":"commas in house technology to"},{"speaker":"Carl Widger","startTime":2693.71,"endTime":2697.7599999999998,"body":"deliver the service to the"},{"speaker":"Carl Widger","startTime":2693.71,"endTime":2697.7599999999998,"body":"clients, they 1.4 million"},{"speaker":"Carl Widger","startTime":2697.7599999999998,"endTime":2704.45,"body":"clients. They charge point 5%"},{"speaker":"Carl Widger","startTime":2697.7599999999998,"endTime":2704.45,"body":"for ongoing, an ongoing advice"},{"speaker":"Carl Widger","startTime":2704.45,"endTime":2708.56,"body":"fee, where they've already said"},{"speaker":"Carl Widger","startTime":2704.45,"endTime":2708.56,"body":"there is no ongoing advice that"},{"speaker":"Carl Widger","startTime":2708.5899999999997,"endTime":2712.19,"body":"I drew actually did read this"},{"speaker":"Carl Widger","startTime":2708.5899999999997,"endTime":2712.19,"body":"right. So um, we were laughing"},{"speaker":"Carl Widger","startTime":2712.19,"endTime":2715.37,"body":"about this earlier on, you know,"},{"speaker":"Carl Widger","startTime":2712.19,"endTime":2715.37,"body":"they're the most frequent"},{"speaker":"Carl Widger","startTime":2715.37,"endTime":2718.8199999999997,"body":"inquiry they get is what are my"},{"speaker":"Carl Widger","startTime":2715.37,"endTime":2718.8199999999997,"body":"login details?"},{"speaker":"Andy Hart","startTime":2721.5499999999997,"endTime":2723.17,"body":"For retirement, yeah,"},{"speaker":"Carl Widger","startTime":2723.2,"endTime":2726.71,"body":"like, like why this"},{"speaker":"Carl Widger","startTime":2723.2,"endTime":2726.71,"body":"is an incredible thing for"},{"speaker":"Carl Widger","startTime":2726.71,"endTime":2731.96,"body":"anybody to say. And he goes on"},{"speaker":"Carl Widger","startTime":2726.71,"endTime":2731.96,"body":"then to lament RDR and that it"},{"speaker":"Carl Widger","startTime":2731.96,"endTime":2735.71,"body":"was very bad and you know, it"},{"speaker":"Carl Widger","startTime":2731.96,"endTime":2735.71,"body":"was great to have all these"},{"speaker":"Carl Widger","startTime":2735.74,"endTime":2740.42,"body":"Commission's and there's 8000"},{"speaker":"Carl Widger","startTime":2735.74,"endTime":2740.42,"body":"Less advisors in the UK when I"},{"speaker":"Carl Widger","startTime":2740.42,"endTime":2743.42,"body":"read that last bit, but this"},{"speaker":"Carl Widger","startTime":2740.42,"endTime":2743.42,"body":"dude should come to Ireland"},{"speaker":"Carl Widger","startTime":2743.42,"endTime":2744.68,"body":"either. Absolutely love it here."},{"speaker":"Nick Lincoln","startTime":2746.69,"endTime":2748.8199999999997,"body":"As Alan said, we"},{"speaker":"Nick Lincoln","startTime":2746.69,"endTime":2748.8199999999997,"body":"were discussing just hitting the"},{"speaker":"Nick Lincoln","startTime":2748.8199999999997,"endTime":2751.22,"body":"record button. It's like a"},{"speaker":"Nick Lincoln","startTime":2748.8199999999997,"endTime":2751.22,"body":"Gerald Ratner moment isn't this"},{"speaker":"Nick Lincoln","startTime":2751.22,"endTime":2753.71,"body":"guy. This guy said the quiet"},{"speaker":"Nick Lincoln","startTime":2751.22,"endTime":2753.71,"body":"part out loud."},{"speaker":"Andy Hart","startTime":2755.6,"endTime":2757.43,"body":"Yeah, I can't believe"},{"speaker":"Andy Hart","startTime":2755.6,"endTime":2757.43,"body":"he said this."},{"speaker":"Carl Widger","startTime":2757.8199999999997,"endTime":2761.63,"body":"He probably said I"},{"speaker":"Carl Widger","startTime":2757.8199999999997,"endTime":2761.63,"body":"was like, This is no look, we"},{"speaker":"Carl Widger","startTime":2761.63,"endTime":2765.77,"body":"gotta we gotta kind of"},{"speaker":"Carl Widger","startTime":2761.63,"endTime":2765.77,"body":"understand and appreciate that."},{"speaker":"Carl Widger","startTime":2765.95,"endTime":2768.3199999999997,"body":"There are different business"},{"speaker":"Carl Widger","startTime":2765.95,"endTime":2768.3199999999997,"body":"models, and that is a very"},{"speaker":"Carl Widger","startTime":2768.3199999999997,"endTime":2772.73,"body":"different business model. But"},{"speaker":"Carl Widger","startTime":2768.3199999999997,"endTime":2772.73,"body":"for me, when somebody was 1.4"},{"speaker":"Carl Widger","startTime":2772.73,"endTime":2776.3599999999997,"body":"million clients or something"},{"speaker":"Carl Widger","startTime":2772.73,"endTime":2776.3599999999997,"body":"like that, I go where Want to be"},{"speaker":"Carl Widger","startTime":2776.3599999999997,"endTime":2780.92,"body":"around for an awful long time to"},{"speaker":"Carl Widger","startTime":2776.3599999999997,"endTime":2780.92,"body":"come? Like our advice fee, our"},{"speaker":"Carl Widger","startTime":2780.92,"endTime":2785.21,"body":"ongoing advice fee for our top"},{"speaker":"Carl Widger","startTime":2780.92,"endTime":2785.21,"body":"level of clients is point 5%."},{"speaker":"Carl Widger","startTime":2785.72,"endTime":2790.3399999999997,"body":"He's his firm do absolutely"},{"speaker":"Carl Widger","startTime":2785.72,"endTime":2790.3399999999997,"body":"nothing for that money."},{"speaker":"Carl Widger","startTime":2790.97,"endTime":2793.7,"body":"Absolutely not. To give them"},{"speaker":"Carl Widger","startTime":2790.97,"endTime":2793.7,"body":"login details. That's what he"},{"speaker":"Carl Widger","startTime":2793.7,"endTime":2796.19,"body":"said that they don't need advice"},{"speaker":"Carl Widger","startTime":2793.7,"endTime":2796.19,"body":"and to give login."},{"speaker":"Andy Hart","startTime":2796.22,"endTime":2798.0499999999997,"body":"And also, I think"},{"speaker":"Andy Hart","startTime":2796.22,"endTime":2798.0499999999997,"body":"they charge for their platform"},{"speaker":"Andy Hart","startTime":2798.0499999999997,"endTime":2802.1,"body":"as well. They're very"},{"speaker":"Andy Hart","startTime":2798.0499999999997,"endTime":2802.1,"body":"integrated, integrated firms,"},{"speaker":"Andy Hart","startTime":2802.1,"endTime":2804.29,"body":"they charge for funds as well."},{"speaker":"Andy Hart","startTime":2802.1,"endTime":2804.29,"body":"So it's not just the point five"},{"speaker":"Andy Hart","startTime":2804.29,"endTime":2805.88,"body":"that's quoted, again, I don't"},{"speaker":"Andy Hart","startTime":2804.29,"endTime":2805.88,"body":"know the numbers well enough,"},{"speaker":"Andy Hart","startTime":2805.88,"endTime":2806.66,"body":"but I believe,"},{"speaker":"Alan Smith","startTime":2808.2799999999997,"endTime":2810.29,"body":"I think he may be"},{"speaker":"Alan Smith","startTime":2808.2799999999997,"endTime":2810.29,"body":"getting or his advisers may be"},{"speaker":"Alan Smith","startTime":2810.29,"endTime":2814.31,"body":"getting a few letters next few"},{"speaker":"Alan Smith","startTime":2810.29,"endTime":2814.31,"body":"weeks from the ombudsman, or"},{"speaker":"Alan Smith","startTime":2814.31,"endTime":2818.0899999999997,"body":"whoever else, by the way on"},{"speaker":"Alan Smith","startTime":2814.31,"endTime":2818.0899999999997,"body":"this, they also learned that,"},{"speaker":"Alan Smith","startTime":2818.5099999999998,"endTime":2821.0,"body":"imagine you did have and you"},{"speaker":"Alan Smith","startTime":2818.5099999999998,"endTime":2821.0,"body":"realize there was, I don't know,"},{"speaker":"Alan Smith","startTime":2821.0899999999997,"endTime":2825.8599999999997,"body":"100, or whatever, 1000 clients"},{"speaker":"Alan Smith","startTime":2821.0899999999997,"endTime":2825.8599999999997,"body":"for whom you actually owed them"},{"speaker":"Alan Smith","startTime":2825.89,"endTime":2829.04,"body":"to be repaid, because they"},{"speaker":"Alan Smith","startTime":2825.89,"endTime":2829.04,"body":"didn't get any advice for years."},{"speaker":"Alan Smith","startTime":2829.97,"endTime":2832.79,"body":"That's not it, that's not a PII"},{"speaker":"Alan Smith","startTime":2829.97,"endTime":2832.79,"body":"claim, you can't claim that"},{"speaker":"Alan Smith","startTime":2832.79,"endTime":2834.62,"body":"through your insurance, that's"},{"speaker":"Alan Smith","startTime":2832.79,"endTime":2834.62,"body":"something you're gonna have to"},{"speaker":"Alan Smith","startTime":2834.62,"endTime":2837.23,"body":"find the funds for yourself,"},{"speaker":"Alan Smith","startTime":2834.62,"endTime":2837.23,"body":"that is just an omission of"},{"speaker":"Alan Smith","startTime":2837.23,"endTime":2840.56,"body":"professional services, which you"},{"speaker":"Alan Smith","startTime":2837.23,"endTime":2840.56,"body":"have to find, to"},{"speaker":"Carl Widger","startTime":2840.56,"endTime":2842.66,"body":"be fair to this"},{"speaker":"Carl Widger","startTime":2840.56,"endTime":2842.66,"body":"firm. And this this article I"},{"speaker":"Carl Widger","startTime":2842.66,"endTime":2845.69,"body":"refer to, right, they're very"},{"speaker":"Carl Widger","startTime":2842.66,"endTime":2845.69,"body":"clear on what they do. Right? So"},{"speaker":"Carl Widger","startTime":2845.69,"endTime":2848.39,"body":"I don't think there'll be any"},{"speaker":"Carl Widger","startTime":2845.69,"endTime":2848.39,"body":"ambiguity, I don't think they'll"},{"speaker":"Carl Widger","startTime":2848.39,"endTime":2850.31,"body":"have much of a problem saying,"},{"speaker":"Alan Smith","startTime":2852.02,"endTime":2852.92,"body":"online portal,"},{"speaker":"Carl Widger","startTime":2853.25,"endTime":2856.04,"body":"we told you exactly"},{"speaker":"Carl Widger","startTime":2853.25,"endTime":2856.04,"body":"what you were getting for this"},{"speaker":"Carl Widger","startTime":2856.04,"endTime":2859.25,"body":"money. I'm telling you again,"},{"speaker":"Carl Widger","startTime":2856.04,"endTime":2859.25,"body":"I'm just gonna remind everyone,"},{"speaker":"Carl Widger","startTime":2859.25,"endTime":2862.25,"body":"this is what you're getting,"},{"speaker":"Carl Widger","startTime":2859.25,"endTime":2862.25,"body":"which is, which is pretty much"},{"speaker":"Carl Widger","startTime":2862.31,"endTime":2865.4,"body":"no, he does say in the article."},{"speaker":"Carl Widger","startTime":2862.31,"endTime":2865.4,"body":"If people do want advice, of"},{"speaker":"Carl Widger","startTime":2865.4,"endTime":2870.8599999999997,"body":"course, we do have advisors. But"},{"speaker":"Carl Widger","startTime":2865.4,"endTime":2870.8599999999997,"body":"it's very rare. Our clients need"},{"speaker":"Carl Widger","startTime":2870.8599999999997,"endTime":2873.83,"body":"advice. 1.4 million, they"},{"speaker":"Nick Lincoln","startTime":2873.83,"endTime":2877.5499999999997,"body":"are very, they are"},{"speaker":"Nick Lincoln","startTime":2873.83,"endTime":2877.5499999999997,"body":"the NSM advisor with TP and that"},{"speaker":"Nick Lincoln","startTime":2877.58,"endTime":2881.69,"body":"system is very slick in terms of"},{"speaker":"Nick Lincoln","startTime":2877.58,"endTime":2881.69,"body":"it's all very tech driven. They"},{"speaker":"Nick Lincoln","startTime":2881.69,"endTime":2883.3399999999997,"body":"do have to go through a"},{"speaker":"Nick Lincoln","startTime":2881.69,"endTime":2883.3399999999997,"body":"compliance, you know,"},{"speaker":"Nick Lincoln","startTime":2883.3399999999997,"endTime":2885.23,"body":"everything. You can't go to the"},{"speaker":"Nick Lincoln","startTime":2883.3399999999997,"endTime":2885.23,"body":"next stage of a Client"},{"speaker":"Nick Lincoln","startTime":2885.2599999999998,"endTime":2888.17,"body":"Onboarding to the Donald's baba,"},{"speaker":"Nick Lincoln","startTime":2885.2599999999998,"endTime":2888.17,"body":"baba, boom, everything's done."},{"speaker":"Nick Lincoln","startTime":2888.77,"endTime":2891.74,"body":"So in terms of getting clients"},{"speaker":"Nick Lincoln","startTime":2888.77,"endTime":2891.74,"body":"on board, they are probably, you"},{"speaker":"Nick Lincoln","startTime":2891.74,"endTime":2894.5,"body":"know, as good as any other firm"},{"speaker":"Nick Lincoln","startTime":2891.74,"endTime":2894.5,"body":"out there. But yeah,"},{"speaker":"Nick Lincoln","startTime":2894.5299999999997,"endTime":2899.63,"body":"interesting. Wow. Okay, listen,"},{"speaker":"Nick Lincoln","startTime":2894.5299999999997,"endTime":2899.63,"body":"guys. Yeah, 47 minutes for the"},{"speaker":"Nick Lincoln","startTime":2899.63,"endTime":2903.44,"body":"love of God shall move on to the"},{"speaker":"Nick Lincoln","startTime":2899.63,"endTime":2903.44,"body":"meat and potatoes. Yeah, and"},{"speaker":"Nick Lincoln","startTime":2903.44,"endTime":2908.72,"body":"this kind of this this kind of"},{"speaker":"Nick Lincoln","startTime":2903.44,"endTime":2908.72,"body":"ties in with the overall theme"},{"speaker":"Nick Lincoln","startTime":2908.72,"endTime":2911.69,"body":"of this show about ongoing"},{"speaker":"Nick Lincoln","startTime":2908.72,"endTime":2911.69,"body":"service and being careful about"},{"speaker":"Nick Lincoln","startTime":2911.69,"endTime":2914.18,"body":"what you're promising people and"},{"speaker":"Nick Lincoln","startTime":2911.69,"endTime":2914.18,"body":"the kind of people that you take"},{"speaker":"Nick Lincoln","startTime":2914.18,"endTime":2917.33,"body":"on and convert from being"},{"speaker":"Nick Lincoln","startTime":2914.18,"endTime":2917.33,"body":"prospects to being clients. I"},{"speaker":"Nick Lincoln","startTime":2917.33,"endTime":2922.88,"body":"saw a LinkedIn post from a young"},{"speaker":"Nick Lincoln","startTime":2917.33,"endTime":2922.88,"body":"IFA owns his own financial"},{"speaker":"Nick Lincoln","startTime":2922.88,"endTime":2925.46,"body":"planning business, he founded it"},{"speaker":"Nick Lincoln","startTime":2922.88,"endTime":2925.46,"body":"Walker wealth, that guy's name"},{"speaker":"Nick Lincoln","startTime":2925.46,"endTime":2928.49,"body":"is Tom Morgan, gonna read it"},{"speaker":"Nick Lincoln","startTime":2925.46,"endTime":2928.49,"body":"out. So just just bear with me."},{"speaker":"Nick Lincoln","startTime":2928.8199999999997,"endTime":2931.49,"body":"Tom says last week, I had three"},{"speaker":"Nick Lincoln","startTime":2928.8199999999997,"endTime":2931.49,"body":"separate conversations with new"},{"speaker":"Nick Lincoln","startTime":2931.49,"endTime":2935.27,"body":"prospects. And I didn't convert"},{"speaker":"Nick Lincoln","startTime":2931.49,"endTime":2935.27,"body":"any of them. Am I the worst"},{"speaker":"Nick Lincoln","startTime":2935.27,"endTime":2938.18,"body":"closer in the world? The problem"},{"speaker":"Nick Lincoln","startTime":2935.27,"endTime":2938.18,"body":"is they want to one off"},{"speaker":"Nick Lincoln","startTime":2938.18,"endTime":2940.58,"body":"transactional style advice,"},{"speaker":"Nick Lincoln","startTime":2938.18,"endTime":2940.58,"body":"their inquiries all went along"},{"speaker":"Nick Lincoln","startTime":2940.58,"endTime":2944.18,"body":"the same lines and all started"},{"speaker":"Nick Lincoln","startTime":2940.58,"endTime":2944.18,"body":"with, I just want this. And I'm"},{"speaker":"Nick Lincoln","startTime":2944.18,"endTime":2948.71,"body":"here to offer a full fat"},{"speaker":"Nick Lincoln","startTime":2944.18,"endTime":2948.71,"body":"financial planning service. And"},{"speaker":"Nick Lincoln","startTime":2948.71,"endTime":2950.7799999999997,"body":"I'll give you everything, I've"},{"speaker":"Nick Lincoln","startTime":2948.71,"endTime":2950.7799999999997,"body":"got to drive the most value to"},{"speaker":"Nick Lincoln","startTime":2950.7799999999997,"endTime":2953.0299999999997,"body":"you. But you need to be open"},{"speaker":"Nick Lincoln","startTime":2950.7799999999997,"endTime":2953.0299999999997,"body":"minded and wholeheartedly"},{"speaker":"Nick Lincoln","startTime":2953.0299999999997,"endTime":2955.85,"body":"engaged in it. Otherwise, it's"},{"speaker":"Nick Lincoln","startTime":2953.0299999999997,"endTime":2955.85,"body":"not a good fit for either of us."},{"speaker":"Nick Lincoln","startTime":2956.21,"endTime":2958.2799999999997,"body":"And then some closes by saying,"},{"speaker":"Nick Lincoln","startTime":2956.21,"endTime":2958.2799999999997,"body":"well, maybe I didn't do a good"},{"speaker":"Nick Lincoln","startTime":2958.2799999999997,"endTime":2960.92,"body":"enough job of pitching the"},{"speaker":"Nick Lincoln","startTime":2958.2799999999997,"endTime":2960.92,"body":"massive benefits proper"},{"speaker":"Nick Lincoln","startTime":2960.92,"endTime":2964.19,"body":"financial planning delivers. Or"},{"speaker":"Nick Lincoln","startTime":2960.92,"endTime":2964.19,"body":"maybe I dodged a square peg"},{"speaker":"Nick Lincoln","startTime":2964.19,"endTime":2966.56,"body":"round hole client relationship"},{"speaker":"Nick Lincoln","startTime":2964.19,"endTime":2966.56,"body":"that wouldn't have worked for"},{"speaker":"Nick Lincoln","startTime":2966.56,"endTime":2969.41,"body":"anybody. What do you think"},{"speaker":"Nick Lincoln","startTime":2966.56,"endTime":2969.41,"body":"anyone here in a sales role have"},{"speaker":"Nick Lincoln","startTime":2969.41,"endTime":2973.19,"body":"a similar experience? And"},{"speaker":"Nick Lincoln","startTime":2969.41,"endTime":2973.19,"body":"interest in a whole range of"},{"speaker":"Nick Lincoln","startTime":2973.19,"endTime":2976.46,"body":"comments? It's quite a, quite a"},{"speaker":"Nick Lincoln","startTime":2973.19,"endTime":2976.46,"body":"lot of participation in that in"},{"speaker":"Nick Lincoln","startTime":2976.46,"endTime":2980.9,"body":"that 90 and comments in that, on"},{"speaker":"Nick Lincoln","startTime":2976.46,"endTime":2980.9,"body":"that piece from from Tom Morgan."},{"speaker":"Nick Lincoln","startTime":2981.2,"endTime":2983.0299999999997,"body":"And some people were saying,"},{"speaker":"Nick Lincoln","startTime":2981.2,"endTime":2983.0299999999997,"body":"yeah, just stick to what you're"},{"speaker":"Nick Lincoln","startTime":2983.0299999999997,"endTime":2985.58,"body":"doing. You're actually right."},{"speaker":"Nick Lincoln","startTime":2983.0299999999997,"endTime":2985.58,"body":"Other people were other extreme,"},{"speaker":"Nick Lincoln","startTime":2985.58,"endTime":2989.27,"body":"say, No, you you adapt your"},{"speaker":"Nick Lincoln","startTime":2985.58,"endTime":2989.27,"body":"service to the clients. And if"},{"speaker":"Nick Lincoln","startTime":2989.27,"endTime":2991.5499999999997,"body":"clients want something, you can"},{"speaker":"Nick Lincoln","startTime":2989.27,"endTime":2991.5499999999997,"body":"give it to them, just make sure"},{"speaker":"Nick Lincoln","startTime":2991.5499999999997,"endTime":2994.8199999999997,"body":"you cost it on an hourly basis,"},{"speaker":"Nick Lincoln","startTime":2991.5499999999997,"endTime":2994.8199999999997,"body":"you know, like accountants or"},{"speaker":"Nick Lincoln","startTime":2994.8199999999997,"endTime":2999.74,"body":"lawyers. And I just want to I"},{"speaker":"Nick Lincoln","startTime":2994.8199999999997,"endTime":2999.74,"body":"just think it's pretty much"},{"speaker":"Nick Lincoln","startTime":2999.74,"endTime":3002.44,"body":"surprised trapeze to where it"},{"speaker":"Nick Lincoln","startTime":2999.74,"endTime":3002.44,"body":"surprised the trackpad, I think"},{"speaker":"Nick Lincoln","startTime":3002.44,"endTime":3005.02,"body":"this guy is totally right to do"},{"speaker":"Nick Lincoln","startTime":3002.44,"endTime":3005.02,"body":"what he's doing. And you"},{"speaker":"Nick Lincoln","startTime":3005.02,"endTime":3008.44,"body":"absolutely you do not tailor"},{"speaker":"Nick Lincoln","startTime":3005.02,"endTime":3008.44,"body":"your service to the clients."},{"speaker":"Nick Lincoln","startTime":3008.44,"endTime":3011.71,"body":"It's like, I think David Hearn"},{"speaker":"Nick Lincoln","startTime":3008.44,"endTime":3011.71,"body":"who's a friend of the show, said"},{"speaker":"Nick Lincoln","startTime":3011.71,"endTime":3014.74,"body":"in a comment, you know, you"},{"speaker":"Nick Lincoln","startTime":3011.71,"endTime":3014.74,"body":"don't go to a fantastic"},{"speaker":"Nick Lincoln","startTime":3014.74,"endTime":3017.68,"body":"restaurant with that I can't"},{"speaker":"Nick Lincoln","startTime":3014.74,"endTime":3017.68,"body":"menu and then just demand fish"},{"speaker":"Nick Lincoln","startTime":3017.68,"endTime":3019.96,"body":"and chips that's not on there,"},{"speaker":"Nick Lincoln","startTime":3017.68,"endTime":3019.96,"body":"and go into the kitchen to start"},{"speaker":"Nick Lincoln","startTime":3019.96,"endTime":3022.15,"body":"knocking out fish and chips just"},{"speaker":"Nick Lincoln","startTime":3019.96,"endTime":3022.15,"body":"because you want it it doesn't"},{"speaker":"Nick Lincoln","startTime":3022.15,"endTime":3024.8199999999997,"body":"work like that. And I think Tom"},{"speaker":"Nick Lincoln","startTime":3022.15,"endTime":3024.8199999999997,"body":"Morgan, I think you're"},{"speaker":"Nick Lincoln","startTime":3024.8199999999997,"endTime":3027.22,"body":"absolutely right to stick to the"},{"speaker":"Nick Lincoln","startTime":3024.8199999999997,"endTime":3027.22,"body":"full fat financial planning,"},{"speaker":"Nick Lincoln","startTime":3027.43,"endTime":3030.22,"body":"transactional, you know, it's"},{"speaker":"Nick Lincoln","startTime":3027.43,"endTime":3030.22,"body":"all very well to say you're"},{"speaker":"Nick Lincoln","startTime":3030.22,"endTime":3032.2599999999998,"body":"gonna do transactional advice,"},{"speaker":"Nick Lincoln","startTime":3030.22,"endTime":3032.2599999999998,"body":"you're gonna time cost it for"},{"speaker":"Nick Lincoln","startTime":3032.2599999999998,"endTime":3035.41,"body":"somebody, okay? So I've got 100"},{"speaker":"Nick Lincoln","startTime":3032.2599999999998,"endTime":3035.41,"body":"Grand i want to invest in I want"},{"speaker":"Nick Lincoln","startTime":3035.41,"endTime":3037.9,"body":"you to tell me how to invest it."},{"speaker":"Nick Lincoln","startTime":3035.41,"endTime":3037.9,"body":"Now, the four of us here and"},{"speaker":"Nick Lincoln","startTime":3037.9,"endTime":3040.2999999999997,"body":"many of our listeners would say,"},{"speaker":"Nick Lincoln","startTime":3037.9,"endTime":3040.2999999999997,"body":"Oh, that's interesting. You've"},{"speaker":"Nick Lincoln","startTime":3040.2999999999997,"endTime":3042.88,"body":"got 100 grand to invest, how can"},{"speaker":"Nick Lincoln","startTime":3040.2999999999997,"endTime":3042.88,"body":"you work out? How come it's 100"},{"speaker":"Nick Lincoln","startTime":3042.88,"endTime":3044.92,"body":"grand you need to invest in"},{"speaker":"Nick Lincoln","startTime":3042.88,"endTime":3044.92,"body":"what's what returns you need to"},{"speaker":"Nick Lincoln","startTime":3044.92,"endTime":3047.83,"body":"get on that? Can you show me the"},{"speaker":"Nick Lincoln","startTime":3044.92,"endTime":3047.83,"body":"financial plan that tells me you"},{"speaker":"Nick Lincoln","startTime":3047.83,"endTime":3050.5899999999997,"body":"need to invest 100k Because then"},{"speaker":"Nick Lincoln","startTime":3047.83,"endTime":3050.5899999999997,"body":"I can maybe work out the"},{"speaker":"Nick Lincoln","startTime":3050.5899999999997,"endTime":3052.63,"body":"appropriate asset mix for that"},{"speaker":"Nick Lincoln","startTime":3050.5899999999997,"endTime":3052.63,"body":"for your portfolio to get the"},{"speaker":"Nick Lincoln","startTime":3052.63,"endTime":3054.43,"body":"return you need in the"},{"speaker":"Nick Lincoln","startTime":3052.63,"endTime":3054.43,"body":"classroom. Now I don't need all"},{"speaker":"Nick Lincoln","startTime":3054.43,"endTime":3057.91,"body":"that. I don't need it just one"},{"speaker":"Nick Lincoln","startTime":3054.43,"endTime":3057.91,"body":"investor 100 100 grand already"},{"speaker":"Nick Lincoln","startTime":3057.91,"endTime":3060.73,"body":"at that first point you've"},{"speaker":"Nick Lincoln","startTime":3057.91,"endTime":3060.73,"body":"you've hit a massive, massive"},{"speaker":"Nick Lincoln","startTime":3060.7599999999998,"endTime":3063.73,"body":"pothole in the road. And then if"},{"speaker":"Nick Lincoln","startTime":3060.7599999999998,"endTime":3063.73,"body":"you're charging on a time basis,"},{"speaker":"Nick Lincoln","startTime":3064.06,"endTime":3066.5499999999997,"body":"okay, all right. We're not gonna"},{"speaker":"Nick Lincoln","startTime":3064.06,"endTime":3066.5499999999997,"body":"do the financial plan. I'm just"},{"speaker":"Nick Lincoln","startTime":3066.5499999999997,"endTime":3069.31,"body":"going to recommend an investment"},{"speaker":"Nick Lincoln","startTime":3066.5499999999997,"endTime":3069.31,"body":"for you. I know it's going to be"},{"speaker":"Nick Lincoln","startTime":3069.31,"endTime":3071.65,"body":"it's going to be this is not"},{"speaker":"Nick Lincoln","startTime":3069.31,"endTime":3071.65,"body":"advice anyone listening. It's"},{"speaker":"Nick Lincoln","startTime":3071.65,"endTime":3074.83,"body":"going to be Vanguard global all"},{"speaker":"Nick Lincoln","startTime":3071.65,"endTime":3074.83,"body":"share. There you go. And my fee"},{"speaker":"Nick Lincoln","startTime":3074.83,"endTime":3077.65,"body":"for that is 12,000 pounds."},{"speaker":"Nick Lincoln","startTime":3074.83,"endTime":3077.65,"body":"pounds or whatever, 5000 pounds."},{"speaker":"Nick Lincoln","startTime":3077.65,"endTime":3081.79,"body":"Why? And they're gonna go? Well,"},{"speaker":"Nick Lincoln","startTime":3077.65,"endTime":3081.79,"body":"that took me 15 seconds to"},{"speaker":"Nick Lincoln","startTime":3081.79,"endTime":3084.13,"body":"recommend that yeah, because"},{"speaker":"Nick Lincoln","startTime":3081.79,"endTime":3084.13,"body":"it's taking me 30 years to work"},{"speaker":"Nick Lincoln","startTime":3084.13,"endTime":3086.5299999999997,"body":"out exactly what you need. And"},{"speaker":"Nick Lincoln","startTime":3084.13,"endTime":3086.5299999999997,"body":"that's my expertise you're"},{"speaker":"Nick Lincoln","startTime":3086.5299999999997,"endTime":3089.14,"body":"paying for if you want to do"},{"speaker":"Nick Lincoln","startTime":3086.5299999999997,"endTime":3089.14,"body":"one. So what I'm trying to say"},{"speaker":"Nick Lincoln","startTime":3089.14,"endTime":3091.6,"body":"is one of transactional advice"},{"speaker":"Nick Lincoln","startTime":3089.14,"endTime":3091.6,"body":"and also that you can bet your"},{"speaker":"Nick Lincoln","startTime":3091.6,"endTime":3093.79,"body":"bottom dollar if he gives one"},{"speaker":"Nick Lincoln","startTime":3091.6,"endTime":3093.79,"body":"off transactional investment"},{"speaker":"Nick Lincoln","startTime":3093.79,"endTime":3095.83,"body":"advice to that client, no matter"},{"speaker":"Nick Lincoln","startTime":3093.79,"endTime":3095.83,"body":"how many disclaimers, you say"},{"speaker":"Nick Lincoln","startTime":3095.83,"endTime":3100.48,"body":"saying I'm never going to"},{"speaker":"Nick Lincoln","startTime":3095.83,"endTime":3100.48,"body":"contact you again. If that fund"},{"speaker":"Nick Lincoln","startTime":3100.5099999999998,"endTime":3102.73,"body":"has a temporary decline, and the"},{"speaker":"Nick Lincoln","startTime":3100.5099999999998,"endTime":3102.73,"body":"client sells out, because you're"},{"speaker":"Nick Lincoln","startTime":3102.73,"endTime":3105.8199999999997,"body":"not on their shoulder, given"},{"speaker":"Nick Lincoln","startTime":3102.73,"endTime":3105.8199999999997,"body":"them with a coaching advice, and"},{"speaker":"Nick Lincoln","startTime":3105.8199999999997,"endTime":3109.0899999999997,"body":"they sell and turn a paper loss"},{"speaker":"Nick Lincoln","startTime":3105.8199999999997,"endTime":3109.0899999999997,"body":"into a real one, they will try"},{"speaker":"Nick Lincoln","startTime":3109.0899999999997,"endTime":3111.37,"body":"and come back to you and they"},{"speaker":"Nick Lincoln","startTime":3109.0899999999997,"endTime":3111.37,"body":"will try it on. So I'm"},{"speaker":"Nick Lincoln","startTime":3111.43,"endTime":3114.37,"body":"absolutely against this thing"},{"speaker":"Nick Lincoln","startTime":3111.43,"endTime":3114.37,"body":"about doing transactional stuff"},{"speaker":"Nick Lincoln","startTime":3114.37,"endTime":3116.83,"body":"and adapting your service world"},{"speaker":"Nick Lincoln","startTime":3114.37,"endTime":3116.83,"body":"on time, stick to what you do,"},{"speaker":"Nick Lincoln","startTime":3116.89,"endTime":3119.68,"body":"stick to your knitting, take on"},{"speaker":"Nick Lincoln","startTime":3116.89,"endTime":3119.68,"body":"those clients that fit your"},{"speaker":"Nick Lincoln","startTime":3119.68,"endTime":3122.2599999999998,"body":"model. There's more than enough"},{"speaker":"Nick Lincoln","startTime":3119.68,"endTime":3122.2599999999998,"body":"for everybody out there have an"},{"speaker":"Nick Lincoln","startTime":3122.2599999999998,"endTime":3125.89,"body":"abundance mindset. And do not be"},{"speaker":"Nick Lincoln","startTime":3122.2599999999998,"endTime":3125.89,"body":"just you've turned away three"},{"speaker":"Nick Lincoln","startTime":3125.89,"endTime":3128.17,"body":"people, it just means to be"},{"speaker":"Nick Lincoln","startTime":3125.89,"endTime":3128.17,"body":"three people next week, or can"},{"speaker":"Nick Lincoln","startTime":3128.17,"endTime":3129.8199999999997,"body":"they'll just be perfect for you?"},{"speaker":"Nick Lincoln","startTime":3128.17,"endTime":3129.8199999999997,"body":"Because that's kind of the way"},{"speaker":"Nick Lincoln","startTime":3129.8199999999997,"endTime":3132.8199999999997,"body":"the universe works, I think. Any"},{"speaker":"Nick Lincoln","startTime":3129.8199999999997,"endTime":3132.8199999999997,"body":"thoughts on that? Gents? Alan?"},{"speaker":"Alan Smith","startTime":3132.85,"endTime":3136.63,"body":"Yep. Couple of"},{"speaker":"Alan Smith","startTime":3132.85,"endTime":3136.63,"body":"things. Interesting. I was"},{"speaker":"Alan Smith","startTime":3136.63,"endTime":3139.0899999999997,"body":"contacted by a journalist a"},{"speaker":"Alan Smith","startTime":3136.63,"endTime":3139.0899999999997,"body":"couple of days ago for my"},{"speaker":"Alan Smith","startTime":3139.0899999999997,"endTime":3143.38,"body":"comments on a situation that he"},{"speaker":"Alan Smith","startTime":3139.0899999999997,"endTime":3143.38,"body":"came across whereby a potential"},{"speaker":"Alan Smith","startTime":3143.38,"endTime":3148.0899999999997,"body":"client had contacted an advisor,"},{"speaker":"Alan Smith","startTime":3143.38,"endTime":3148.0899999999997,"body":"and advisor was making a"},{"speaker":"Alan Smith","startTime":3148.0899999999997,"endTime":3150.58,"body":"recommendation advisor"},{"speaker":"Alan Smith","startTime":3148.0899999999997,"endTime":3150.58,"body":"recommended a portfolio of"},{"speaker":"Alan Smith","startTime":3150.58,"endTime":3154.0299999999997,"body":"active investment funds. The"},{"speaker":"Alan Smith","startTime":3150.58,"endTime":3154.0299999999997,"body":"client said no, no, no, I want"},{"speaker":"Alan Smith","startTime":3154.5099999999998,"endTime":3157.81,"body":"passive or index funds. And"},{"speaker":"Alan Smith","startTime":3154.5099999999998,"endTime":3157.81,"body":"advisors. And we don't really do"},{"speaker":"Alan Smith","startTime":3157.81,"endTime":3160.21,"body":"that. This is what we've got."},{"speaker":"Alan Smith","startTime":3157.81,"endTime":3160.21,"body":"And so apparently went back and"},{"speaker":"Alan Smith","startTime":3160.21,"endTime":3163.15,"body":"forward. And the and the"},{"speaker":"Alan Smith","startTime":3160.21,"endTime":3163.15,"body":"advisors final recommendation"},{"speaker":"Alan Smith","startTime":3163.15,"endTime":3166.18,"body":"was Well, I'll tell you what"},{"speaker":"Alan Smith","startTime":3163.15,"endTime":3166.18,"body":"we'll do 50% active 50% passive."},{"speaker":"Alan Smith","startTime":3166.5699999999997,"endTime":3168.91,"body":"Alan, what do you think about"},{"speaker":"Alan Smith","startTime":3166.5699999999997,"endTime":3168.91,"body":"that? And I said, it's a"},{"speaker":"Alan Smith","startTime":3168.91,"endTime":3171.5499999999997,"body":"nonsense. I said it's released"},{"speaker":"Alan Smith","startTime":3168.91,"endTime":3171.5499999999997,"body":"love it. It's like me going to a"},{"speaker":"Alan Smith","startTime":3171.5499999999997,"endTime":3175.15,"body":"doctor and say I've got some"},{"speaker":"Alan Smith","startTime":3171.5499999999997,"endTime":3175.15,"body":"sort of ailment. And the doctor"},{"speaker":"Alan Smith","startTime":3175.15,"endTime":3177.3399999999997,"body":"prescribes something, and I say,"},{"speaker":"Alan Smith","startTime":3175.15,"endTime":3177.3399999999997,"body":"No, no, no, no, I don't want"},{"speaker":"Alan Smith","startTime":3177.3399999999997,"endTime":3179.47,"body":"that I want something else. Give"},{"speaker":"Alan Smith","startTime":3177.3399999999997,"endTime":3179.47,"body":"me something else, doctor,"},{"speaker":"Alan Smith","startTime":3179.7999999999997,"endTime":3182.17,"body":"because I've got a preference"},{"speaker":"Alan Smith","startTime":3179.7999999999997,"endTime":3182.17,"body":"doesn't matter. That too passive"},{"speaker":"Alan Smith","startTime":3182.17,"endTime":3184.81,"body":"is a sideshow to this is just if"},{"speaker":"Alan Smith","startTime":3182.17,"endTime":3184.81,"body":"you're if you're an experienced"},{"speaker":"Alan Smith","startTime":3184.81,"endTime":3187.69,"body":"professional, you don't get"},{"speaker":"Alan Smith","startTime":3184.81,"endTime":3187.69,"body":"dictated to by your client,"},{"speaker":"Alan Smith","startTime":3187.69,"endTime":3190.93,"body":"you're a client who wants to"},{"speaker":"Alan Smith","startTime":3187.69,"endTime":3190.93,"body":"dictate the outcome of it, then"},{"speaker":"Alan Smith","startTime":3190.93,"endTime":3196.12,"body":"you find that advisor who will"},{"speaker":"Alan Smith","startTime":3190.93,"endTime":3196.12,"body":"has got the same philosophy as"},{"speaker":"Alan Smith","startTime":3196.12,"endTime":3199.06,"body":"you. So I think if you have the"},{"speaker":"Alan Smith","startTime":3196.12,"endTime":3199.06,"body":"same set of circumstances, if I"},{"speaker":"Alan Smith","startTime":3199.06,"endTime":3201.67,"body":"would, if I was the advisor, no"},{"speaker":"Alan Smith","startTime":3199.06,"endTime":3201.67,"body":"situations are so well, that"},{"speaker":"Alan Smith","startTime":3201.67,"endTime":3203.47,"body":"fundamentally, challenges are"},{"speaker":"Alan Smith","startTime":3201.67,"endTime":3203.47,"body":"underlying investment"},{"speaker":"Alan Smith","startTime":3203.47,"endTime":3207.73,"body":"philosophy. I'd like to explain"},{"speaker":"Alan Smith","startTime":3203.47,"endTime":3207.73,"body":"to you why I'd maybe articulate"},{"speaker":"Alan Smith","startTime":3207.73,"endTime":3210.7,"body":"that and it could be for active"},{"speaker":"Alan Smith","startTime":3207.73,"endTime":3210.7,"body":"versus passive, or whatever the"},{"speaker":"Alan Smith","startTime":3210.7,"endTime":3212.98,"body":"story was, I'll explain that."},{"speaker":"Alan Smith","startTime":3210.7,"endTime":3212.98,"body":"And if you still fundamentally"},{"speaker":"Alan Smith","startTime":3212.98,"endTime":3216.31,"body":"disagree, then we're not the"},{"speaker":"Alan Smith","startTime":3212.98,"endTime":3216.31,"body":"right firm for you. I think"},{"speaker":"Alan Smith","startTime":3216.31,"endTime":3219.7,"body":"that's the thing. The other"},{"speaker":"Alan Smith","startTime":3216.31,"endTime":3219.7,"body":"thing, though, broaden, broaden"},{"speaker":"Alan Smith","startTime":3219.73,"endTime":3224.0499999999997,"body":"out the conversation that came"},{"speaker":"Alan Smith","startTime":3219.73,"endTime":3224.0499999999997,"body":"up on LinkedIn. One of the"},{"speaker":"Alan Smith","startTime":3224.0499999999997,"endTime":3228.7599999999998,"body":"challenges genuinely is that"},{"speaker":"Alan Smith","startTime":3224.0499999999997,"endTime":3228.7599999999998,"body":"financial planning is is not"},{"speaker":"Alan Smith","startTime":3228.7599999999998,"endTime":3231.46,"body":"It's experiential, right? You"},{"speaker":"Alan Smith","startTime":3228.7599999999998,"endTime":3231.46,"body":"don't really know what it is"},{"speaker":"Alan Smith","startTime":3231.46,"endTime":3234.85,"body":"until you experience it. No one"},{"speaker":"Alan Smith","startTime":3231.46,"endTime":3234.85,"body":"does the smartest people that"},{"speaker":"Alan Smith","startTime":3234.85,"endTime":3237.46,"body":"don't really know even if you've"},{"speaker":"Alan Smith","startTime":3234.85,"endTime":3237.46,"body":"sometimes we do get clients"},{"speaker":"Alan Smith","startTime":3237.46,"endTime":3239.47,"body":"coming to us and talking about a"},{"speaker":"Alan Smith","startTime":3237.46,"endTime":3239.47,"body":"financial plan, because I've"},{"speaker":"Alan Smith","startTime":3239.47,"endTime":3241.5699999999997,"body":"read an article or something"},{"speaker":"Alan Smith","startTime":3239.47,"endTime":3241.5699999999997,"body":"about it, then that sounds like"},{"speaker":"Alan Smith","startTime":3241.5699999999997,"endTime":3244.21,"body":"a good thing to have. But unless"},{"speaker":"Alan Smith","startTime":3241.5699999999997,"endTime":3244.21,"body":"you've done it, and had it done"},{"speaker":"Alan Smith","startTime":3244.21,"endTime":3247.66,"body":"with you for you proactively,"},{"speaker":"Alan Smith","startTime":3244.21,"endTime":3247.66,"body":"collaboratively, with an"},{"speaker":"Alan Smith","startTime":3247.66,"endTime":3250.33,"body":"experienced professional doing"},{"speaker":"Alan Smith","startTime":3247.66,"endTime":3250.33,"body":"it, you already know the"},{"speaker":"Alan Smith","startTime":3250.33,"endTime":3256.18,"body":"benefits. And not no one really,"},{"speaker":"Alan Smith","startTime":3250.33,"endTime":3256.18,"body":"ever comes in and ask for that"},{"speaker":"Alan Smith","startTime":3256.18,"endTime":3259.48,"body":"experience. Because they don't"},{"speaker":"Alan Smith","startTime":3256.18,"endTime":3259.48,"body":"know what it's like. So how do"},{"speaker":"Alan Smith","startTime":3259.48,"endTime":3262.24,"body":"you win people across, you can"},{"speaker":"Alan Smith","startTime":3259.48,"endTime":3262.24,"body":"talk to transactional people, we"},{"speaker":"Alan Smith","startTime":3262.24,"endTime":3266.74,"body":"don't do transactional work,"},{"speaker":"Alan Smith","startTime":3262.24,"endTime":3266.74,"body":"what we do, is we do quite a lot"},{"speaker":"Alan Smith","startTime":3266.74,"endTime":3269.23,"body":"of work potentially, if it looks"},{"speaker":"Alan Smith","startTime":3266.74,"endTime":3269.23,"body":"like it's a potential not a"},{"speaker":"Alan Smith","startTime":3269.23,"endTime":3272.38,"body":"complete, just tire, kicker type"},{"speaker":"Alan Smith","startTime":3269.23,"endTime":3272.38,"body":"person. But if it looks like"},{"speaker":"Alan Smith","startTime":3272.38,"endTime":3274.27,"body":"somebody that we could"},{"speaker":"Alan Smith","startTime":3272.38,"endTime":3274.27,"body":"potentially work with, we're"},{"speaker":"Alan Smith","startTime":3274.27,"endTime":3277.7799999999997,"body":"convinced we could add a lot of"},{"speaker":"Alan Smith","startTime":3274.27,"endTime":3277.7799999999997,"body":"value to them, we'll do a fair"},{"speaker":"Alan Smith","startTime":3277.7799999999997,"endTime":3281.3199999999997,"body":"amount of work speculatively, on"},{"speaker":"Alan Smith","startTime":3277.7799999999997,"endTime":3281.3199999999997,"body":"the basis that let's let them"},{"speaker":"Alan Smith","startTime":3281.3199999999997,"endTime":3284.83,"body":"experience it, we will do a"},{"speaker":"Alan Smith","startTime":3281.3199999999997,"endTime":3284.83,"body":"financial plan a fair fairly"},{"speaker":"Alan Smith","startTime":3284.83,"endTime":3288.8199999999997,"body":"basic, it won't be deep in the"},{"speaker":"Alan Smith","startTime":3284.83,"endTime":3288.8199999999997,"body":"weeds of the detail. But it will"},{"speaker":"Alan Smith","startTime":3288.8199999999997,"endTime":3291.4,"body":"be personalized to them or show"},{"speaker":"Alan Smith","startTime":3288.8199999999997,"endTime":3291.4,"body":"their circumstances today, it"},{"speaker":"Alan Smith","startTime":3291.4,"endTime":3294.37,"body":"will show a few, you know,"},{"speaker":"Alan Smith","startTime":3291.4,"endTime":3294.37,"body":"forward forecasts maybe a couple"},{"speaker":"Alan Smith","startTime":3294.37,"endTime":3298.12,"body":"of scenarios that may or may not"},{"speaker":"Alan Smith","startTime":3294.37,"endTime":3298.12,"body":"be in there sort of future life."},{"speaker":"Alan Smith","startTime":3299.56,"endTime":3302.68,"body":"And then we you know, after that"},{"speaker":"Alan Smith","startTime":3299.56,"endTime":3302.68,"body":"sort of one, maybe two meetings,"},{"speaker":"Alan Smith","startTime":3302.71,"endTime":3305.2599999999998,"body":"we say this is the sort of work"},{"speaker":"Alan Smith","startTime":3302.71,"endTime":3305.2599999999998,"body":"we do in great detail. And"},{"speaker":"Alan Smith","startTime":3305.29,"endTime":3308.68,"body":"almost always they become"},{"speaker":"Alan Smith","startTime":3305.29,"endTime":3308.68,"body":"clients. There's only a handful."},{"speaker":"Alan Smith","startTime":3308.68,"endTime":3310.6,"body":"And that's the reason that we"},{"speaker":"Alan Smith","startTime":3308.68,"endTime":3310.6,"body":"have commercially afford to do"},{"speaker":"Alan Smith","startTime":3310.6,"endTime":3314.5,"body":"that to do work. For free up"},{"speaker":"Alan Smith","startTime":3310.6,"endTime":3314.5,"body":"front. It's because we, I use"},{"speaker":"Alan Smith","startTime":3314.5,"endTime":3316.42,"body":"the example of it's like if"},{"speaker":"Alan Smith","startTime":3314.5,"endTime":3316.42,"body":"you're going to buy a car, you"},{"speaker":"Alan Smith","startTime":3316.42,"endTime":3318.49,"body":"want to take it for a test"},{"speaker":"Alan Smith","startTime":3316.42,"endTime":3318.49,"body":"drive, if you're going to buy a"},{"speaker":"Alan Smith","startTime":3318.49,"endTime":3320.47,"body":"house, you got to look at the"},{"speaker":"Alan Smith","startTime":3318.49,"endTime":3320.47,"body":"house, you got to look at a few"},{"speaker":"Alan Smith","startTime":3320.47,"endTime":3322.72,"body":"times you imagine yourself"},{"speaker":"Alan Smith","startTime":3320.47,"endTime":3322.72,"body":"living in that house, you're"},{"speaker":"Alan Smith","startTime":3322.72,"endTime":3325.5099999999998,"body":"just looking at a house and a"},{"speaker":"Alan Smith","startTime":3322.72,"endTime":3325.5099999999998,"body":"website and say that will do do"},{"speaker":"Alan Smith","startTime":3325.5099999999998,"endTime":3328.72,"body":"for me. So you got to meet your"},{"speaker":"Alan Smith","startTime":3325.5099999999998,"endTime":3328.72,"body":"potential clients somewhat. You"},{"speaker":"Alan Smith","startTime":3328.72,"endTime":3331.7799999999997,"body":"can't just say we don't do"},{"speaker":"Alan Smith","startTime":3328.72,"endTime":3331.7799999999997,"body":"transactional work by where you"},{"speaker":"Alan Smith","startTime":3331.7799999999997,"endTime":3336.5499999999997,"body":"can. But that's not necessarily"},{"speaker":"Alan Smith","startTime":3331.7799999999997,"endTime":3336.5499999999997,"body":"a worthwhile thing. The use of"},{"speaker":"Alan Smith","startTime":3336.5499999999997,"endTime":3339.64,"body":"case studies can be helpful as"},{"speaker":"Alan Smith","startTime":3336.5499999999997,"endTime":3339.64,"body":"well, if you've got a range of"},{"speaker":"Alan Smith","startTime":3339.64,"endTime":3342.5499999999997,"body":"case studies, and you can see"},{"speaker":"Alan Smith","startTime":3339.64,"endTime":3342.5499999999997,"body":"this client is potential guy or"},{"speaker":"Alan Smith","startTime":3342.5499999999997,"endTime":3346.21,"body":"girl is a bit like this person"},{"speaker":"Alan Smith","startTime":3342.5499999999997,"endTime":3346.21,"body":"we worked with before. Here's an"},{"speaker":"Alan Smith","startTime":3346.21,"endTime":3349.27,"body":"example of the work we did here"},{"speaker":"Alan Smith","startTime":3346.21,"endTime":3349.27,"body":"is the impact and this is what"},{"speaker":"Alan Smith","startTime":3349.27,"endTime":3352.87,"body":"happens, you can encourage them"},{"speaker":"Alan Smith","startTime":3349.27,"endTime":3352.87,"body":"to do that. And the last thing"},{"speaker":"Alan Smith","startTime":3352.87,"endTime":3356.71,"body":"that we well we've got kind of"},{"speaker":"Alan Smith","startTime":3352.87,"endTime":3356.71,"body":"up our sleeve, rarely use it but"},{"speaker":"Alan Smith","startTime":3356.71,"endTime":3359.83,"body":"if you think this could be very"},{"speaker":"Alan Smith","startTime":3356.71,"endTime":3359.83,"body":"worthwhile towards the client"},{"speaker":"Alan Smith","startTime":3359.83,"endTime":3365.14,"body":"doesn't quite get it yet. We"},{"speaker":"Alan Smith","startTime":3359.83,"endTime":3365.14,"body":"offer a fee a Fee Guarantee. If"},{"speaker":"Alan Smith","startTime":3365.56,"endTime":3369.13,"body":"within six months of us working"},{"speaker":"Alan Smith","startTime":3365.56,"endTime":3369.13,"body":"with you, you feel that we've"},{"speaker":"Alan Smith","startTime":3369.13,"endTime":3372.16,"body":"delivered zero value to you or"},{"speaker":"Alan Smith","startTime":3369.13,"endTime":3372.16,"body":"refund all the fees or fees."},{"speaker":"Alan Smith","startTime":3372.16,"endTime":3376.06,"body":"We've taken our fees that we've"},{"speaker":"Alan Smith","startTime":3372.16,"endTime":3376.06,"body":"taken from you. Therefore that"},{"speaker":"Alan Smith","startTime":3376.06,"endTime":3380.74,"body":"is is now a zero risk decision"},{"speaker":"Alan Smith","startTime":3376.06,"endTime":3380.74,"body":"for the clients. And frankly,"},{"speaker":"Alan Smith","startTime":3381.13,"endTime":3383.47,"body":"some of my colleagues were a bit"},{"speaker":"Alan Smith","startTime":3381.13,"endTime":3383.47,"body":"worried about doing that at one"},{"speaker":"Alan Smith","startTime":3383.47,"endTime":3386.08,"body":"point, but I thought, you know,"},{"speaker":"Alan Smith","startTime":3383.47,"endTime":3386.08,"body":"what, if someone's told us that"},{"speaker":"Alan Smith","startTime":3386.08,"endTime":3388.27,"body":"we've delivered no value to them"},{"speaker":"Alan Smith","startTime":3386.08,"endTime":3388.27,"body":"having worked with us for six"},{"speaker":"Alan Smith","startTime":3388.27,"endTime":3391.8399999999997,"body":"months, they are trouble. And"},{"speaker":"Alan Smith","startTime":3388.27,"endTime":3391.8399999999997,"body":"I'd rather get them out of our"},{"speaker":"Alan Smith","startTime":3391.8399999999997,"endTime":3394.33,"body":"life early, because they're"},{"speaker":"Alan Smith","startTime":3391.8399999999997,"endTime":3394.33,"body":"gonna be because there's no way"},{"speaker":"Alan Smith","startTime":3394.33,"endTime":3395.95,"body":"you can see we've added no"},{"speaker":"Alan Smith","startTime":3394.33,"endTime":3395.95,"body":"value, you just you just"},{"speaker":"Alan Smith","startTime":3395.95,"endTime":3399.22,"body":"couldn't if we delivered on our"},{"speaker":"Alan Smith","startTime":3395.95,"endTime":3399.22,"body":"sort of normal services. So all"},{"speaker":"Alan Smith","startTime":3399.22,"endTime":3402.43,"body":"of a sudden, you've moved that"},{"speaker":"Alan Smith","startTime":3399.22,"endTime":3402.43,"body":"from being, I want this, or we"},{"speaker":"Alan Smith","startTime":3402.43,"endTime":3405.52,"body":"don't do this to saying, hang on"},{"speaker":"Alan Smith","startTime":3402.43,"endTime":3405.52,"body":"a minute, let's let's test it"},{"speaker":"Alan Smith","startTime":3405.52,"endTime":3408.37,"body":"out. Let's run it for a bit."},{"speaker":"Alan Smith","startTime":3405.52,"endTime":3408.37,"body":"Let's build you a plan. Let's"},{"speaker":"Alan Smith","startTime":3408.37,"endTime":3410.5899999999997,"body":"get it let's get you to really"},{"speaker":"Alan Smith","startTime":3408.37,"endTime":3410.5899999999997,"body":"feel an experience and"},{"speaker":"Alan Smith","startTime":3410.5899999999997,"endTime":3414.0699999999997,"body":"understand what we do. And then"},{"speaker":"Alan Smith","startTime":3410.5899999999997,"endTime":3414.0699999999997,"body":"let's get you on board. And if"},{"speaker":"Alan Smith","startTime":3414.0699999999997,"endTime":3415.6,"body":"you think it's a waste of time,"},{"speaker":"Alan Smith","startTime":3414.0699999999997,"endTime":3415.6,"body":"I'll give you all your money"},{"speaker":"Alan Smith","startTime":3415.6,"endTime":3418.39,"body":"back. You've Wait, you've,"},{"speaker":"Alan Smith","startTime":3415.6,"endTime":3418.39,"body":"you've wasted nothing other than"},{"speaker":"Alan Smith","startTime":3418.42,"endTime":3420.7599999999998,"body":"perhaps a bit of time, but"},{"speaker":"Alan Smith","startTime":3418.42,"endTime":3420.7599999999998,"body":"you've certainly learned a lot."},{"speaker":"Alan Smith","startTime":3420.7599999999998,"endTime":3423.3399999999997,"body":"And I'd love to hear you know"},{"speaker":"Alan Smith","startTime":3420.7599999999998,"endTime":3423.3399999999997,"body":"why you felt it was of no value."},{"speaker":"Alan Smith","startTime":3423.37,"endTime":3426.16,"body":"That's never happened. Not one"},{"speaker":"Alan Smith","startTime":3423.37,"endTime":3426.16,"body":"single time. But as I say, it"},{"speaker":"Alan Smith","startTime":3426.16,"endTime":3430.5099999999998,"body":"directs a situation for the"},{"speaker":"Alan Smith","startTime":3426.16,"endTime":3430.5099999999998,"body":"clients. But back to the"},{"speaker":"Alan Smith","startTime":3430.5099999999998,"endTime":3434.47,"body":"original point I wholeheartedly"},{"speaker":"Alan Smith","startTime":3430.5099999999998,"endTime":3434.47,"body":"agree with with Tom, who said we"},{"speaker":"Alan Smith","startTime":3434.47,"endTime":3436.54,"body":"don't we don't do this. But as I"},{"speaker":"Alan Smith","startTime":3434.47,"endTime":3436.54,"body":"say, there's probably a bit of a"},{"speaker":"Alan Smith","startTime":3436.54,"endTime":3439.96,"body":"middle ground between a"},{"speaker":"Alan Smith","startTime":3436.54,"endTime":3439.96,"body":"biologist we don't do it and"},{"speaker":"Alan Smith","startTime":3439.96,"endTime":3440.56,"body":"something else."},{"speaker":"Carl Widger","startTime":3441.43,"endTime":3444.3399999999997,"body":"Can I couldn't draw"},{"speaker":"Carl Widger","startTime":3441.43,"endTime":3444.3399999999997,"body":"me to go Nick, just because"},{"speaker":"Nick Lincoln","startTime":3445.24,"endTime":3447.8199999999997,"body":"second mentor says"},{"speaker":"Nick Lincoln","startTime":3445.24,"endTime":3447.8199999999997,"body":"where's everybody on board"},{"speaker":"Nick Lincoln","startTime":3447.8199999999997,"endTime":3450.58,"body":"clashes for one of Transact this"},{"speaker":"Nick Lincoln","startTime":3447.8199999999997,"endTime":3450.58,"body":"so expensive. The onboarding,"},{"speaker":"Nick Lincoln","startTime":3450.58,"endTime":3453.6099999999997,"body":"the time you spend the fact"},{"speaker":"Nick Lincoln","startTime":3450.58,"endTime":3453.6099999999997,"body":"finding the suitability letter,"},{"speaker":"Nick Lincoln","startTime":3453.6099999999997,"endTime":3456.64,"body":"I've just from one off, you can"},{"speaker":"Nick Lincoln","startTime":3453.6099999999997,"endTime":3456.64,"body":"never charge enough to make that"},{"speaker":"Nick Lincoln","startTime":3456.64,"endTime":3459.49,"body":"anything other than vomiting."},{"speaker":"Nick Lincoln","startTime":3456.64,"endTime":3459.49,"body":"Juicy, sorry, car crack on?"},{"speaker":"Nick Lincoln","startTime":3460.27,"endTime":3460.6,"body":"Yeah,"},{"speaker":"Carl Widger","startTime":3460.63,"endTime":3465.79,"body":"no. Fair point. I'm"},{"speaker":"Carl Widger","startTime":3460.63,"endTime":3465.79,"body":"kind of I'm with Alan on this,"},{"speaker":"Carl Widger","startTime":3465.79,"endTime":3468.94,"body":"though. Right? I would be a"},{"speaker":"Carl Widger","startTime":3465.79,"endTime":3468.94,"body":"little bit more commercial maybe"},{"speaker":"Carl Widger","startTime":3468.94,"endTime":3474.4,"body":"about it right. And I suppose my"},{"speaker":"Carl Widger","startTime":3468.94,"endTime":3474.4,"body":"main feeling on this is go and"},{"speaker":"Carl Widger","startTime":3474.4,"endTime":3479.2599999999998,"body":"meet the clients where they're"},{"speaker":"Carl Widger","startTime":3474.4,"endTime":3479.2599999999998,"body":"at. Okay. So you know, I know"},{"speaker":"Carl Widger","startTime":3479.2599999999998,"endTime":3483.0699999999997,"body":"you don't agree, Nick. But but"},{"speaker":"Carl Widger","startTime":3479.2599999999998,"endTime":3483.0699999999997,"body":"but hear me out, right. So if we"},{"speaker":"Carl Widger","startTime":3483.0699999999997,"endTime":3486.25,"body":"have someone referred into us"},{"speaker":"Carl Widger","startTime":3483.0699999999997,"endTime":3486.25,"body":"who wants you know, who, who has"},{"speaker":"Carl Widger","startTime":3486.25,"endTime":3489.0099999999998,"body":"been told by somebody else, oh,"},{"speaker":"Carl Widger","startTime":3486.25,"endTime":3489.0099999999998,"body":"they do this financial planning"},{"speaker":"Carl Widger","startTime":3489.0099999999998,"endTime":3492.2799999999997,"body":"thing. It's awesome, right? Or a"},{"speaker":"Carl Widger","startTime":3489.0099999999998,"endTime":3492.2799999999997,"body":"center of influence. They do"},{"speaker":"Carl Widger","startTime":3492.2799999999997,"endTime":3494.02,"body":"this financial planning thing,"},{"speaker":"Carl Widger","startTime":3492.2799999999997,"endTime":3494.02,"body":"you need to go through the"},{"speaker":"Carl Widger","startTime":3494.02,"endTime":3498.73,"body":"process. That's easy peasy. But"},{"speaker":"Carl Widger","startTime":3494.02,"endTime":3498.73,"body":"then we do get people who you"},{"speaker":"Carl Widger","startTime":3498.73,"endTime":3501.91,"body":"know, come in straight up and"},{"speaker":"Carl Widger","startTime":3498.73,"endTime":3501.91,"body":"go, I've got a pension. And I"},{"speaker":"Carl Widger","startTime":3501.91,"endTime":3505.8399999999997,"body":"want to know what pension funds"},{"speaker":"Carl Widger","startTime":3501.91,"endTime":3505.8399999999997,"body":"should go into. So we'll meet"},{"speaker":"Carl Widger","startTime":3505.8399999999997,"endTime":3508.2999999999997,"body":"them where they're at. But we'll"},{"speaker":"Carl Widger","startTime":3505.8399999999997,"endTime":3508.2999999999997,"body":"do exactly what Ivan says we'll"},{"speaker":"Carl Widger","startTime":3508.2999999999997,"endTime":3513.31,"body":"do have a basic financial plan."},{"speaker":"Carl Widger","startTime":3508.2999999999997,"endTime":3513.31,"body":"Good example client come in have"},{"speaker":"Carl Widger","startTime":3513.31,"endTime":3516.43,"body":"three years to go to retirement,"},{"speaker":"Carl Widger","startTime":3513.31,"endTime":3516.43,"body":"or want to invest in a tracker"},{"speaker":"Carl Widger","startTime":3516.43,"endTime":3520.5099999999998,"body":"bond that's going to give me a"},{"speaker":"Carl Widger","startTime":3516.43,"endTime":3520.5099999999998,"body":"guaranteed return of 8%. I know"},{"speaker":"Carl Widger","startTime":3520.54,"endTime":3523.81,"body":"I'm making up that number,"},{"speaker":"Carl Widger","startTime":3520.54,"endTime":3523.81,"body":"right? And it's like, wow, we're"},{"speaker":"Carl Widger","startTime":3523.81,"endTime":3528.31,"body":"definitely not doing that. But"},{"speaker":"Carl Widger","startTime":3523.81,"endTime":3528.31,"body":"can we just explain and show you"},{"speaker":"Carl Widger","startTime":3528.6099999999997,"endTime":3532.42,"body":"exactly where we would see this"},{"speaker":"Carl Widger","startTime":3528.6099999999997,"endTime":3532.42,"body":"going, and what you need to do"},{"speaker":"Carl Widger","startTime":3532.5699999999997,"endTime":3535.5699999999997,"body":"and explain that actually, in"},{"speaker":"Carl Widger","startTime":3532.5699999999997,"endTime":3535.5699999999997,"body":"your head, you're going to"},{"speaker":"Carl Widger","startTime":3535.5699999999997,"endTime":3538.54,"body":"retire at 60 and take your lump"},{"speaker":"Carl Widger","startTime":3535.5699999999997,"endTime":3538.54,"body":"sum. But if we do financial"},{"speaker":"Carl Widger","startTime":3538.54,"endTime":3541.5099999999998,"body":"planning, I can demonstrate that"},{"speaker":"Carl Widger","startTime":3538.54,"endTime":3541.5099999999998,"body":"actually are a 40 year investor."},{"speaker":"Carl Widger","startTime":3541.81,"endTime":3544.75,"body":"So it's to meet them where"},{"speaker":"Carl Widger","startTime":3541.81,"endTime":3544.75,"body":"they're at with their particular"},{"speaker":"Carl Widger","startTime":3544.75,"endTime":3549.67,"body":"pain point. And then, and then"},{"speaker":"Carl Widger","startTime":3544.75,"endTime":3549.67,"body":"try and almost slowly flip it on"},{"speaker":"Carl Widger","startTime":3549.67,"endTime":3553.2999999999997,"body":"its head to show exactly why you"},{"speaker":"Carl Widger","startTime":3549.67,"endTime":3553.2999999999997,"body":"need the financial plan. And I"},{"speaker":"Carl Widger","startTime":3553.2999999999997,"endTime":3557.5,"body":"think that's really important,"},{"speaker":"Carl Widger","startTime":3553.2999999999997,"endTime":3557.5,"body":"as opposed to being perhaps"},{"speaker":"Carl Widger","startTime":3557.5,"endTime":3560.74,"body":"sneaked away, you're doing it"},{"speaker":"Carl Widger","startTime":3557.5,"endTime":3560.74,"body":"which is not not not doing it."},{"speaker":"Carl Widger","startTime":3561.0699999999997,"endTime":3564.1,"body":"Like we would have no interest"},{"speaker":"Carl Widger","startTime":3561.0699999999997,"endTime":3564.1,"body":"whatsoever in transactional"},{"speaker":"Carl Widger","startTime":3564.13,"endTime":3567.46,"body":"business, we will turn it away."},{"speaker":"Carl Widger","startTime":3564.13,"endTime":3567.46,"body":"If it's absolutely clear that"},{"speaker":"Carl Widger","startTime":3567.46,"endTime":3569.95,"body":"it's just going to be"},{"speaker":"Carl Widger","startTime":3567.46,"endTime":3569.95,"body":"transaction, no, not happening."},{"speaker":"Carl Widger","startTime":3570.43,"endTime":3574.0,"body":"But but we will exactly as Alan"},{"speaker":"Carl Widger","startTime":3570.43,"endTime":3574.0,"body":"said, you will try and bring"},{"speaker":"Carl Widger","startTime":3574.0,"endTime":3576.73,"body":"them on the journey. And I look,"},{"speaker":"Carl Widger","startTime":3574.0,"endTime":3576.73,"body":"I think this is the biggest"},{"speaker":"Carl Widger","startTime":3576.73,"endTime":3580.42,"body":"challenge for all of us doing"},{"speaker":"Carl Widger","startTime":3576.73,"endTime":3580.42,"body":"real financial planning, which"},{"speaker":"Carl Widger","startTime":3580.42,"endTime":3585.6099999999997,"body":"is it's, it's an experience that"},{"speaker":"Carl Widger","startTime":3580.42,"endTime":3585.6099999999997,"body":"you need to go through and the"},{"speaker":"Carl Widger","startTime":3585.6099999999997,"endTime":3590.2,"body":"wow moment, are they the aha"},{"speaker":"Carl Widger","startTime":3585.6099999999997,"endTime":3590.2,"body":"moments come at the end, right?"},{"speaker":"Carl Widger","startTime":3590.38,"endTime":3593.77,"body":"When you have overlaid all of"},{"speaker":"Carl Widger","startTime":3590.38,"endTime":3593.77,"body":"the income and assets and all of"},{"speaker":"Carl Widger","startTime":3593.77,"endTime":3596.71,"body":"that kind of stuff on your plan."},{"speaker":"Carl Widger","startTime":3593.77,"endTime":3596.71,"body":"And the Read is either there."},{"speaker":"Carl Widger","startTime":3596.71,"endTime":3599.38,"body":"And then you do what if"},{"speaker":"Carl Widger","startTime":3596.71,"endTime":3599.38,"body":"scenarios, that that's when you"},{"speaker":"Carl Widger","startTime":3599.38,"endTime":3604.72,"body":"go Oh, wow. And you know, it's"},{"speaker":"Carl Widger","startTime":3599.38,"endTime":3604.72,"body":"difficult to get that feeling to"},{"speaker":"Carl Widger","startTime":3604.72,"endTime":3607.9,"body":"give that feeling to a potential"},{"speaker":"Carl Widger","startTime":3604.72,"endTime":3607.9,"body":"client who's not familiar"},{"speaker":"Carl Widger","startTime":3607.9,"endTime":3611.5,"body":"financial planning, you know, by"},{"speaker":"Carl Widger","startTime":3607.9,"endTime":3611.5,"body":"just explaining kind of what you"},{"speaker":"Carl Widger","startTime":3611.5,"endTime":3615.3399999999997,"body":"do, you need to go through the"},{"speaker":"Carl Widger","startTime":3611.5,"endTime":3615.3399999999997,"body":"process. So I think using the"},{"speaker":"Carl Widger","startTime":3615.3399999999997,"endTime":3619.15,"body":"particular pain point that"},{"speaker":"Carl Widger","startTime":3615.3399999999997,"endTime":3619.15,"body":"client has, and using that as"},{"speaker":"Carl Widger","startTime":3619.15,"endTime":3623.89,"body":"the key or the core or the main"},{"speaker":"Carl Widger","startTime":3619.15,"endTime":3623.89,"body":"theme of your financial plan. I"},{"speaker":"Carl Widger","startTime":3623.89,"endTime":3626.29,"body":"think that's how you bring it"},{"speaker":"Carl Widger","startTime":3623.89,"endTime":3626.29,"body":"all around. And that's how you"},{"speaker":"Carl Widger","startTime":3626.29,"endTime":3630.7,"body":"explain this is this is quite a"},{"speaker":"Carl Widger","startTime":3626.29,"endTime":3630.7,"body":"holistic view. And overall"},{"speaker":"Carl Widger","startTime":3630.7,"endTime":3636.79,"body":"helicopter view is required. So"},{"speaker":"Carl Widger","startTime":3630.7,"endTime":3636.79,"body":"maybe not as draconian and no,"},{"speaker":"Carl Widger","startTime":3636.79,"endTime":3639.85,"body":"it's not happening for that guy"},{"speaker":"Carl Widger","startTime":3636.79,"endTime":3639.85,"body":"who's who said he turned away"},{"speaker":"Carl Widger","startTime":3639.85,"endTime":3643.93,"body":"three clients. I don't obviously"},{"speaker":"Carl Widger","startTime":3639.85,"endTime":3643.93,"body":"know the particulars of the"},{"speaker":"Carl Widger","startTime":3643.93,"endTime":3648.52,"body":"three cases, but maybe if he was"},{"speaker":"Carl Widger","startTime":3643.93,"endTime":3648.52,"body":"a little bit softer, and took a"},{"speaker":"Carl Widger","startTime":3648.52,"endTime":3651.7599999999998,"body":"little bit of extra time now"},{"speaker":"Carl Widger","startTime":3648.52,"endTime":3651.7599999999998,"body":"maybe Ireland's firm and our"},{"speaker":"Carl Widger","startTime":3651.7599999999998,"endTime":3656.23,"body":"firm, maybe we've you know, we"},{"speaker":"Carl Widger","startTime":3651.7599999999998,"endTime":3656.23,"body":"can afford to do as I don't call"},{"speaker":"Carl Widger","startTime":3656.23,"endTime":3660.67,"body":"it speculative work, and maybe"},{"speaker":"Carl Widger","startTime":3656.23,"endTime":3660.67,"body":"do a couple of meetings before"},{"speaker":"Carl Widger","startTime":3660.79,"endTime":3665.7999999999997,"body":"we kind of bring people around."},{"speaker":"Carl Widger","startTime":3660.79,"endTime":3665.7999999999997,"body":"Maybe that's the case. But yeah,"},{"speaker":"Carl Widger","startTime":3665.83,"endTime":3668.62,"body":"there that's generally speaking"},{"speaker":"Carl Widger","startTime":3665.83,"endTime":3668.62,"body":"my views on it."},{"speaker":"Andy Hart","startTime":3669.73,"endTime":3675.19,"body":"Okay, I'll finish"},{"speaker":"Andy Hart","startTime":3669.73,"endTime":3675.19,"body":"off. Really good point. That is"},{"speaker":"Andy Hart","startTime":3675.25,"endTime":3678.7599999999998,"body":"the reality, isn't it? As Carl"},{"speaker":"Andy Hart","startTime":3675.25,"endTime":3678.7599999999998,"body":"alluded to people seek advice"},{"speaker":"Andy Hart","startTime":3678.7599999999998,"endTime":3681.49,"body":"when money's in flow. You know,"},{"speaker":"Andy Hart","startTime":3678.7599999999998,"endTime":3681.49,"body":"they've received an inheritance"},{"speaker":"Andy Hart","startTime":3681.49,"endTime":3684.49,"body":"divorce sold a business"},{"speaker":"Andy Hart","startTime":3681.49,"endTime":3684.49,"body":"retirements happening, they very"},{"speaker":"Andy Hart","startTime":3684.49,"endTime":3687.0099999999998,"body":"rarely saw any lifestyle"},{"speaker":"Andy Hart","startTime":3684.49,"endTime":3687.0099999999998,"body":"financial planners and financial"},{"speaker":"Andy Hart","startTime":3687.0099999999998,"endTime":3689.29,"body":"forecasts and I needed to be"},{"speaker":"Andy Hart","startTime":3687.0099999999998,"endTime":3689.29,"body":"more strategic thinking about"},{"speaker":"Andy Hart","startTime":3689.29,"endTime":3693.8199999999997,"body":"the next 25 years. That's what's"},{"speaker":"Andy Hart","startTime":3689.29,"endTime":3693.8199999999997,"body":"going to happen, hopefully. But"},{"speaker":"Andy Hart","startTime":3693.8199999999997,"endTime":3698.7999999999997,"body":"they obviously don't come to us"},{"speaker":"Andy Hart","startTime":3693.8199999999997,"endTime":3698.7999999999997,"body":"seeking that. Back to Basics, it"},{"speaker":"Andy Hart","startTime":3698.7999999999997,"endTime":3701.17,"body":"depends on what firm you work"},{"speaker":"Andy Hart","startTime":3698.7999999999997,"endTime":3701.17,"body":"for depends if you're an"},{"speaker":"Andy Hart","startTime":3701.17,"endTime":3703.96,"body":"employee and a firm and you have"},{"speaker":"Andy Hart","startTime":3701.17,"endTime":3703.96,"body":"a certain way of working be that"},{"speaker":"Andy Hart","startTime":3703.96,"endTime":3707.89,"body":"transaction or ongoing or mixer"},{"speaker":"Andy Hart","startTime":3703.96,"endTime":3707.89,"body":"to, if you run your own"},{"speaker":"Andy Hart","startTime":3707.89,"endTime":3710.7999999999997,"body":"business. Again, it's the beauty"},{"speaker":"Andy Hart","startTime":3707.89,"endTime":3710.7999999999997,"body":"of running your own business,"},{"speaker":"Andy Hart","startTime":3710.7999999999997,"endTime":3712.99,"body":"you can create your own business"},{"speaker":"Andy Hart","startTime":3710.7999999999997,"endTime":3712.99,"body":"diviner, wherever that is for"},{"speaker":"Andy Hart","startTime":3712.99,"endTime":3718.18,"body":"you. I generally I do no pension"},{"speaker":"Andy Hart","startTime":3712.99,"endTime":3718.18,"body":"and investment transactional"},{"speaker":"Andy Hart","startTime":3718.18,"endTime":3721.3599999999997,"body":"work for all the reasons that"},{"speaker":"Andy Hart","startTime":3718.18,"endTime":3721.3599999999997,"body":"Nick mentioned, I believe, I"},{"speaker":"Andy Hart","startTime":3721.3599999999997,"endTime":3725.1099999999997,"body":"believe my value is in the"},{"speaker":"Andy Hart","startTime":3721.3599999999997,"endTime":3725.1099999999997,"body":"ongoing work. Therefore, I work"},{"speaker":"Andy Hart","startTime":3725.1099999999997,"endTime":3727.2999999999997,"body":"with clients on an ongoing"},{"speaker":"Andy Hart","startTime":3725.1099999999997,"endTime":3727.2999999999997,"body":"basis, you know, you don't get"},{"speaker":"Andy Hart","startTime":3727.33,"endTime":3730.21,"body":"fit, go and see a personal"},{"speaker":"Andy Hart","startTime":3727.33,"endTime":3730.21,"body":"trainer once. I think it takes a"},{"speaker":"Andy Hart","startTime":3730.21,"endTime":3732.97,"body":"couple of years to get people's"},{"speaker":"Andy Hart","startTime":3730.21,"endTime":3732.97,"body":"financial house fully in order."},{"speaker":"Andy Hart","startTime":3733.3599999999997,"endTime":3735.97,"body":"I mean, yes, there's about five"},{"speaker":"Andy Hart","startTime":3733.3599999999997,"endTime":3735.97,"body":"or six big, big things we need"},{"speaker":"Andy Hart","startTime":3735.97,"endTime":3739.33,"body":"to do in the next three months."},{"speaker":"Andy Hart","startTime":3735.97,"endTime":3739.33,"body":"But then there's 35, tiny things"},{"speaker":"Andy Hart","startTime":3739.33,"endTime":3741.58,"body":"we need to do in the next three"},{"speaker":"Andy Hart","startTime":3739.33,"endTime":3741.58,"body":"years. So again, I'm not going"},{"speaker":"Andy Hart","startTime":3741.58,"endTime":3745.72,"body":"to achieve that. Just by doing"},{"speaker":"Andy Hart","startTime":3741.58,"endTime":3745.72,"body":"transactional work. As the CEO"},{"speaker":"Andy Hart","startTime":3745.72,"endTime":3749.2,"body":"of True Potential says there's"},{"speaker":"Andy Hart","startTime":3745.72,"endTime":3749.2,"body":"only 20,000, financial 20,000,"},{"speaker":"Andy Hart","startTime":3749.2,"endTime":3751.54,"body":"good financial advisors less"},{"speaker":"Andy Hart","startTime":3749.2,"endTime":3751.54,"body":"there's clients falling out the"},{"speaker":"Andy Hart","startTime":3751.54,"endTime":3755.38,"body":"trees. So you know, back to"},{"speaker":"Andy Hart","startTime":3751.54,"endTime":3755.38,"body":"Tom's point, it basically is"},{"speaker":"Andy Hart","startTime":3755.38,"endTime":3758.14,"body":"just next, you know, next client"},{"speaker":"Andy Hart","startTime":3755.38,"endTime":3758.14,"body":"next client next client, you"},{"speaker":"Andy Hart","startTime":3758.14,"endTime":3760.12,"body":"declined three clients, but they"},{"speaker":"Andy Hart","startTime":3758.14,"endTime":3760.12,"body":"don't fit your service."},{"speaker":"Andy Hart","startTime":3760.39,"endTime":3764.5299999999997,"body":"Hopefully three come around the"},{"speaker":"Andy Hart","startTime":3760.39,"endTime":3764.5299999999997,"body":"next week. The only one off work"},{"speaker":"Andy Hart","startTime":3764.5299999999997,"endTime":3767.74,"body":"I do do I do do insurance one"},{"speaker":"Andy Hart","startTime":3764.5299999999997,"endTime":3767.74,"body":"off life insurance, income"},{"speaker":"Andy Hart","startTime":3767.74,"endTime":3770.44,"body":"protection, critical illness, if"},{"speaker":"Andy Hart","startTime":3767.74,"endTime":3770.44,"body":"it's a client or friend or"},{"speaker":"Andy Hart","startTime":3770.44,"endTime":3774.8199999999997,"body":"person I know somewhat well,"},{"speaker":"Andy Hart","startTime":3770.44,"endTime":3774.8199999999997,"body":"because I'm, I'm a fan, and"},{"speaker":"Andy Hart","startTime":3774.8199999999997,"endTime":3778.66,"body":"people have the right insurance"},{"speaker":"Andy Hart","startTime":3774.8199999999997,"endTime":3778.66,"body":"in place. On I also do care"},{"speaker":"Andy Hart","startTime":3778.66,"endTime":3781.42,"body":"annuities as one of work. That's"},{"speaker":"Andy Hart","startTime":3778.66,"endTime":3781.42,"body":"a bit of a niche that I do, but"},{"speaker":"Andy Hart","startTime":3781.42,"endTime":3785.83,"body":"everything else is is ongoing."},{"speaker":"Andy Hart","startTime":3781.42,"endTime":3785.83,"body":"So yeah, good luck to you, Tom,"},{"speaker":"Andy Hart","startTime":3785.83,"endTime":3788.35,"body":"and finding clients that want to"},{"speaker":"Andy Hart","startTime":3785.83,"endTime":3788.35,"body":"work with people on an ongoing"},{"speaker":"Andy Hart","startTime":3788.35,"endTime":3791.38,"body":"basis. I like the points that"},{"speaker":"Andy Hart","startTime":3788.35,"endTime":3791.38,"body":"you guys mentioned about, you"},{"speaker":"Andy Hart","startTime":3791.38,"endTime":3794.89,"body":"know, basically a loss leader,"},{"speaker":"Andy Hart","startTime":3791.38,"endTime":3794.89,"body":"which is basically what you're"},{"speaker":"Andy Hart","startTime":3794.89,"endTime":3797.95,"body":"saying you you invest a small"},{"speaker":"Andy Hart","startTime":3794.89,"endTime":3797.95,"body":"amount just to show them the"},{"speaker":"Andy Hart","startTime":3797.95,"endTime":3801.13,"body":"service, etc. So I can imagine a"},{"speaker":"Andy Hart","startTime":3797.95,"endTime":3801.13,"body":"lot more people doing that."},{"speaker":"Alan Smith","startTime":3802.21,"endTime":3805.5699999999997,"body":"Yeah, that's a you"},{"speaker":"Alan Smith","startTime":3802.21,"endTime":3805.5699999999997,"body":"see that thing is I get, I'm"},{"speaker":"Alan Smith","startTime":3805.5699999999997,"endTime":3810.43,"body":"remembering a couple of examples"},{"speaker":"Alan Smith","startTime":3805.5699999999997,"endTime":3810.43,"body":"where we have, you know, had"},{"speaker":"Alan Smith","startTime":3810.43,"endTime":3813.3399999999997,"body":"that early stage conversation"},{"speaker":"Alan Smith","startTime":3810.43,"endTime":3813.3399999999997,"body":"with potential clients. And I'm"},{"speaker":"Alan Smith","startTime":3813.3399999999997,"endTime":3815.5,"body":"just doing the same thing,"},{"speaker":"Alan Smith","startTime":3813.3399999999997,"endTime":3815.5,"body":"people who are the thought that"},{"speaker":"Alan Smith","startTime":3815.5,"endTime":3819.85,"body":"didn't really need our services,"},{"speaker":"Alan Smith","startTime":3815.5,"endTime":3819.85,"body":"or speculative, maybe one off"},{"speaker":"Alan Smith","startTime":3819.85,"endTime":3821.77,"body":"type things. And I remember a"},{"speaker":"Alan Smith","startTime":3819.85,"endTime":3821.77,"body":"guy seemed to me a couple of"},{"speaker":"Alan Smith","startTime":3821.77,"endTime":3824.17,"body":"years ago, once we done we've"},{"speaker":"Alan Smith","startTime":3821.77,"endTime":3824.17,"body":"done a sort of deep dive"},{"speaker":"Alan Smith","startTime":3824.17,"endTime":3826.6,"body":"discovery meeting, ask them all,"},{"speaker":"Alan Smith","startTime":3824.17,"endTime":3826.6,"body":"you know, all the details, you"},{"speaker":"Alan Smith","startTime":3826.6,"endTime":3829.06,"body":"would ask him about all the soft"},{"speaker":"Alan Smith","startTime":3826.6,"endTime":3829.06,"body":"facts and stuff. And then we"},{"speaker":"Alan Smith","startTime":3829.06,"endTime":3832.18,"body":"build this outline financial"},{"speaker":"Alan Smith","startTime":3829.06,"endTime":3832.18,"body":"plan, and I'll never forget it."},{"speaker":"Alan Smith","startTime":3832.21,"endTime":3836.5,"body":"He said, he said to me, are you"},{"speaker":"Alan Smith","startTime":3832.21,"endTime":3836.5,"body":"guys he's all curious, you guys."},{"speaker":"Alan Smith","startTime":3836.5299999999997,"endTime":3840.2799999999997,"body":"ifas? I said, Well, yeah, that's"},{"speaker":"Alan Smith","startTime":3836.5299999999997,"endTime":3840.2799999999997,"body":"the kind of generic term because"},{"speaker":"Alan Smith","startTime":3840.2799999999997,"endTime":3844.87,"body":"well, I had an IV before I need"},{"speaker":"Alan Smith","startTime":3840.2799999999997,"endTime":3844.87,"body":"to do my ICER. So there's an"},{"speaker":"Alan Smith","startTime":3844.87,"endTime":3850.21,"body":"assumption that that's what ifas"},{"speaker":"Alan Smith","startTime":3844.87,"endTime":3850.21,"body":"do pensions and ISIS"},{"speaker":"Alan Smith","startTime":3850.21,"endTime":3853.2999999999997,"body":"recommendations, and the"},{"speaker":"Alan Smith","startTime":3850.21,"endTime":3853.2999999999997,"body":"experience he had with us was"},{"speaker":"Alan Smith","startTime":3853.2999999999997,"endTime":3856.72,"body":"just so different to that. And"},{"speaker":"Alan Smith","startTime":3853.2999999999997,"endTime":3856.72,"body":"it would be the same any of you"},{"speaker":"Alan Smith","startTime":3856.72,"endTime":3859.6,"body":"guys, and any real financial"},{"speaker":"Alan Smith","startTime":3856.72,"endTime":3859.6,"body":"planner out there was so"},{"speaker":"Alan Smith","startTime":3859.6,"endTime":3862.12,"body":"different that he couldn't join"},{"speaker":"Alan Smith","startTime":3859.6,"endTime":3862.12,"body":"the dots between the two. So he"},{"speaker":"Alan Smith","startTime":3862.12,"endTime":3864.52,"body":"thought he was coming speaking"},{"speaker":"Alan Smith","startTime":3862.12,"endTime":3864.52,"body":"to us, and he had just had a"},{"speaker":"Alan Smith","startTime":3864.52,"endTime":3868.21,"body":"significant liquidity events"},{"speaker":"Alan Smith","startTime":3864.52,"endTime":3868.21,"body":"around selling a business. So"},{"speaker":"Alan Smith","startTime":3868.24,"endTime":3871.21,"body":"oh, I didn't know that ifas did"},{"speaker":"Alan Smith","startTime":3868.24,"endTime":3871.21,"body":"this stuff, because this stuff I"},{"speaker":"Alan Smith","startTime":3871.21,"endTime":3874.7799999999997,"body":"want, but didn't know what it"},{"speaker":"Alan Smith","startTime":3871.21,"endTime":3874.7799999999997,"body":"was. Because I thought if he's"},{"speaker":"Alan Smith","startTime":3874.7799999999997,"endTime":3877.27,"body":"just investment recommendations,"},{"speaker":"Alan Smith","startTime":3874.7799999999997,"endTime":3877.27,"body":"so that was, that was quite"},{"speaker":"Alan Smith","startTime":3877.27,"endTime":3880.9,"body":"interesting. The other point"},{"speaker":"Alan Smith","startTime":3877.27,"endTime":3880.9,"body":"about this, of course, is that a"},{"speaker":"Alan Smith","startTime":3880.9,"endTime":3883.99,"body":"good ongoing relationship is all"},{"speaker":"Alan Smith","startTime":3880.9,"endTime":3883.99,"body":"about kind of looking over the"},{"speaker":"Alan Smith","startTime":3883.99,"endTime":3887.65,"body":"horizon and what's coming down"},{"speaker":"Alan Smith","startTime":3883.99,"endTime":3887.65,"body":"and being proactive, and"},{"speaker":"Alan Smith","startTime":3887.65,"endTime":3890.71,"body":"organizing and optimizing for"},{"speaker":"Alan Smith","startTime":3887.65,"endTime":3890.71,"body":"circumstances. There's, there's"},{"speaker":"Alan Smith","startTime":3890.71,"endTime":3893.8599999999997,"body":"always something changing. As"},{"speaker":"Alan Smith","startTime":3890.71,"endTime":3893.8599999999997,"body":"you know, the capital gains tax"},{"speaker":"Alan Smith","startTime":3893.8599999999997,"endTime":3897.3399999999997,"body":"rules in the UK, have changed"},{"speaker":"Alan Smith","startTime":3893.8599999999997,"endTime":3897.3399999999997,"body":"recently are changing. There's"},{"speaker":"Alan Smith","startTime":3897.3399999999997,"endTime":3899.5,"body":"numerous things, the pension"},{"speaker":"Alan Smith","startTime":3897.3399999999997,"endTime":3899.5,"body":"rules change all the bloody"},{"speaker":"Alan Smith","startTime":3899.5,"endTime":3902.5899999999997,"body":"time, et cetera, et so you want"},{"speaker":"Alan Smith","startTime":3899.5,"endTime":3902.5899999999997,"body":"to have someone on your side"},{"speaker":"Alan Smith","startTime":3902.5899999999997,"endTime":3904.9,"body":"who's kind of looking"},{"speaker":"Alan Smith","startTime":3902.5899999999997,"endTime":3904.9,"body":"proactively that next year, this"},{"speaker":"Alan Smith","startTime":3904.9,"endTime":3907.2999999999997,"body":"is going to happen, or this,"},{"speaker":"Alan Smith","startTime":3904.9,"endTime":3907.2999999999997,"body":"this rule will change, et"},{"speaker":"Alan Smith","startTime":3907.2999999999997,"endTime":3910.42,"body":"cetera. And making those changes"},{"speaker":"Alan Smith","startTime":3907.2999999999997,"endTime":3910.42,"body":"practically, other than as, as"},{"speaker":"Alan Smith","startTime":3910.42,"endTime":3913.5699999999997,"body":"opposed to always happen is too"},{"speaker":"Alan Smith","startTime":3910.42,"endTime":3913.5699999999997,"body":"late. You can't do that anymore."},{"speaker":"Andy Hart","startTime":3915.3399999999997,"endTime":3917.98,"body":"I think also client"},{"speaker":"Andy Hart","startTime":3915.3399999999997,"endTime":3917.98,"body":"demographic has something to do"},{"speaker":"Andy Hart","startTime":3917.98,"endTime":3920.3199999999997,"body":"with it. I could be assuming"},{"speaker":"Andy Hart","startTime":3917.98,"endTime":3920.3199999999997,"body":"here, but Tom might have been"},{"speaker":"Andy Hart","startTime":3920.3199999999997,"endTime":3925.0299999999997,"body":"speaking to younger clients that"},{"speaker":"Andy Hart","startTime":3920.3199999999997,"endTime":3925.0299999999997,"body":"are not motivated, like older"},{"speaker":"Andy Hart","startTime":3925.0299999999997,"endTime":3928.48,"body":"clients approaching retirement."},{"speaker":"Andy Hart","startTime":3925.0299999999997,"endTime":3928.48,"body":"You know, our perfect sweet spot"},{"speaker":"Andy Hart","startTime":3928.48,"endTime":3933.49,"body":"for clients is early 50s."},{"speaker":"Andy Hart","startTime":3928.48,"endTime":3933.49,"body":"approaching retirement, they're"},{"speaker":"Andy Hart","startTime":3933.49,"endTime":3937.21,"body":"motivated, they want to fix"},{"speaker":"Andy Hart","startTime":3933.49,"endTime":3937.21,"body":"their retirement problem, their"},{"speaker":"Andy Hart","startTime":3937.21,"endTime":3939.0099999999998,"body":"retirement income problem, they"},{"speaker":"Andy Hart","startTime":3937.21,"endTime":3939.0099999999998,"body":"know they can't do it"},{"speaker":"Andy Hart","startTime":3939.0099999999998,"endTime":3941.3199999999997,"body":"themselves. And they're going to"},{"speaker":"Andy Hart","startTime":3939.0099999999998,"endTime":3941.3199999999997,"body":"seek an advisor, when you try"},{"speaker":"Andy Hart","startTime":3941.3199999999997,"endTime":3943.54,"body":"and pitch proper financial"},{"speaker":"Andy Hart","startTime":3941.3199999999997,"endTime":3943.54,"body":"planning to people in their late"},{"speaker":"Andy Hart","startTime":3943.54,"endTime":3946.96,"body":"30s, early 40s. Again, they're"},{"speaker":"Andy Hart","startTime":3943.54,"endTime":3946.96,"body":"not really motivated to do it."},{"speaker":"Andy Hart","startTime":3947.2599999999998,"endTime":3949.69,"body":"So are perfect clients or"},{"speaker":"Andy Hart","startTime":3947.2599999999998,"endTime":3949.69,"body":"clients on the approach to"},{"speaker":"Andy Hart","startTime":3949.69,"endTime":3953.83,"body":"retirement, ideally, business"},{"speaker":"Andy Hart","startTime":3949.69,"endTime":3953.83,"body":"owners. So again, it's the"},{"speaker":"Andy Hart","startTime":3953.8599999999997,"endTime":3956.1099999999997,"body":"client demographic that you're"},{"speaker":"Andy Hart","startTime":3953.8599999999997,"endTime":3956.1099999999997,"body":"also pitching to I think it's"},{"speaker":"Andy Hart","startTime":3956.1099999999997,"endTime":3956.65,"body":"quite important."},{"speaker":"Nick Lincoln","startTime":3958.39,"endTime":3961.66,"body":"I just read the"},{"speaker":"Nick Lincoln","startTime":3958.39,"endTime":3961.66,"body":"article on LinkedIn was reading"},{"speaker":"Nick Lincoln","startTime":3961.66,"endTime":3963.97,"body":"the comments below I trying to"},{"speaker":"Nick Lincoln","startTime":3961.66,"endTime":3963.97,"body":"work out where Tom got these"},{"speaker":"Nick Lincoln","startTime":3964.39,"endTime":3968.2,"body":"prospects from. The important"},{"speaker":"Nick Lincoln","startTime":3964.39,"endTime":3968.2,"body":"point to make here is and if"},{"speaker":"Nick Lincoln","startTime":3968.2,"endTime":3970.66,"body":"you're if you're, if your"},{"speaker":"Nick Lincoln","startTime":3968.2,"endTime":3970.66,"body":"business is mature, and you're"},{"speaker":"Nick Lincoln","startTime":3970.66,"endTime":3973.27,"body":"in your development, you're, you"},{"speaker":"Nick Lincoln","startTime":3970.66,"endTime":3973.27,"body":"get new prospects from"},{"speaker":"Nick Lincoln","startTime":3973.27,"endTime":3977.08,"body":"referrals. I imagine it's very"},{"speaker":"Nick Lincoln","startTime":3973.27,"endTime":3977.08,"body":"Rare that you're gonna get"},{"speaker":"Nick Lincoln","startTime":3977.1099999999997,"endTime":3979.27,"body":"people coming to you for"},{"speaker":"Nick Lincoln","startTime":3977.1099999999997,"endTime":3979.27,"body":"transactional stuff because the"},{"speaker":"Nick Lincoln","startTime":3979.27,"endTime":3981.4,"body":"people that are referring you"},{"speaker":"Nick Lincoln","startTime":3979.27,"endTime":3981.4,"body":"your existing clients are the"},{"speaker":"Nick Lincoln","startTime":3981.4,"endTime":3983.8599999999997,"body":"ones you're doing the full"},{"speaker":"Nick Lincoln","startTime":3981.4,"endTime":3983.8599999999997,"body":"financial planning for and so"},{"speaker":"Nick Lincoln","startTime":3983.8599999999997,"endTime":3986.29,"body":"you're likely to get more of"},{"speaker":"Nick Lincoln","startTime":3983.8599999999997,"endTime":3986.29,"body":"those I imagined maybe Tom got"},{"speaker":"Nick Lincoln","startTime":3986.29,"endTime":3988.81,"body":"these from an unbiased or what"},{"speaker":"Nick Lincoln","startTime":3986.29,"endTime":3988.81,"body":"have you as well which I get as"},{"speaker":"Nick Lincoln","startTime":3988.81,"endTime":3990.16,"body":"well you know when you're"},{"speaker":"Nick Lincoln","startTime":3988.81,"endTime":3990.16,"body":"starting off when you're young"},{"speaker":"Nick Lincoln","startTime":3990.19,"endTime":3994.06,"body":"you'll get business from"},{"speaker":"Nick Lincoln","startTime":3990.19,"endTime":3994.06,"body":"whatever source you can so"},{"speaker":"Nick Lincoln","startTime":3994.2999999999997,"endTime":3996.67,"body":"Alright, I've been given that"},{"speaker":"Nick Lincoln","startTime":3994.2999999999997,"endTime":3996.67,"body":"dad with thrashing we're"},{"speaker":"Nick Lincoln","startTime":3996.67,"endTime":4000.18,"body":"comfortable with that. Yes Carl"},{"speaker":"Nick Lincoln","startTime":3996.67,"endTime":4000.18,"body":"is Carl is nodding and it's kind"},{"speaker":"Nick Lincoln","startTime":4000.18,"endTime":4003.12,"body":"of like defer to and all these"},{"speaker":"Nick Lincoln","startTime":4000.18,"endTime":4003.12,"body":"matters. And with perfect timing"},{"speaker":"Nick Lincoln","startTime":4003.12,"endTime":4005.6099999999997,"body":"actually, I'm gonna be we've"},{"speaker":"Nick Lincoln","startTime":4003.12,"endTime":4005.6099999999997,"body":"drawn into the meat and potatoes"},{"speaker":"Nick Lincoln","startTime":4005.6099999999997,"endTime":4008.7,"body":"because at the front door of my"},{"speaker":"Nick Lincoln","startTime":4005.6099999999997,"endTime":4008.7,"body":"of Lincoln Lodge is posted and"},{"speaker":"Nick Lincoln","startTime":4008.7,"endTime":4012.9,"body":"she's sacked and she's dragged"},{"speaker":"Nick Lincoln","startTime":4008.7,"endTime":4012.9,"body":"the bulging sack up my drive of"},{"speaker":"Nick Lincoln","startTime":4012.9,"endTime":4017.88,"body":"TRAPPIST questions. There"},{"speaker":"Nick Lincoln","startTime":4012.9,"endTime":4017.88,"body":"TRAPPIST once, once, once an"},{"speaker":"Nick Lincoln","startTime":4017.88,"endTime":4020.97,"body":"episode we answer typically Now"},{"speaker":"Nick Lincoln","startTime":4017.88,"endTime":4020.97,"body":"one question from our Trappists"},{"speaker":"Nick Lincoln","startTime":4021.39,"endTime":4026.22,"body":"sent in via the pin link at the"},{"speaker":"Nick Lincoln","startTime":4021.39,"endTime":4026.22,"body":"top of our Twitter profile at"},{"speaker":"Nick Lincoln","startTime":4026.22,"endTime":4030.66,"body":"advisor podcast. We are getting"},{"speaker":"Nick Lincoln","startTime":4026.22,"endTime":4030.66,"body":"to them slowly and surely. And"},{"speaker":"Nick Lincoln","startTime":4030.66,"endTime":4033.96,"body":"this one is from now who's this"},{"speaker":"Nick Lincoln","startTime":4030.66,"endTime":4033.96,"body":"one from here, let's just open"},{"speaker":"Nick Lincoln","startTime":4033.96,"endTime":4040.98,"body":"up the letter. This is from"},{"speaker":"Nick Lincoln","startTime":4033.96,"endTime":4040.98,"body":"Steven s who's on X or Twitter,"},{"speaker":"Nick Lincoln","startTime":4040.98,"endTime":4044.79,"body":"whatever you wanna call it, as"},{"speaker":"Nick Lincoln","startTime":4040.98,"endTime":4044.79,"body":"at passive Vanguard, da"},{"speaker":"Nick Lincoln","startTime":4044.79,"endTime":4047.3399999999997,"body":"musketeers, I want to take a"},{"speaker":"Nick Lincoln","startTime":4044.79,"endTime":4047.3399999999997,"body":"moment to express my gratitude"},{"speaker":"Nick Lincoln","startTime":4047.3399999999997,"endTime":4050.1,"body":"for the invaluable insights and"},{"speaker":"Nick Lincoln","startTime":4047.3399999999997,"endTime":4050.1,"body":"discussions on track. It's"},{"speaker":"Nick Lincoln","startTime":4050.1,"endTime":4053.8199999999997,"body":"become a ritual for me to pour a"},{"speaker":"Nick Lincoln","startTime":4050.1,"endTime":4053.8199999999997,"body":"very long drink and settle into"},{"speaker":"Nick Lincoln","startTime":4053.8199999999997,"endTime":4056.31,"body":"listen to your engaging"},{"speaker":"Nick Lincoln","startTime":4053.8199999999997,"endTime":4056.31,"body":"conversation on personal finance"},{"speaker":"Nick Lincoln","startTime":4056.58,"endTime":4059.8199999999997,"body":"onto my query Christ for that,"},{"speaker":"Nick Lincoln","startTime":4056.58,"endTime":4059.8199999999997,"body":"in a general investment account,"},{"speaker":"Nick Lincoln","startTime":4059.8199999999997,"endTime":4062.16,"body":"I've come across varying views"},{"speaker":"Nick Lincoln","startTime":4059.8199999999997,"endTime":4062.16,"body":"regarding the choice between"},{"speaker":"Nick Lincoln","startTime":4062.16,"endTime":4066.3599999999997,"body":"distribution slash income funds"},{"speaker":"Nick Lincoln","startTime":4062.16,"endTime":4066.3599999999997,"body":"and accumulation funds. Some say"},{"speaker":"Nick Lincoln","startTime":4066.3599999999997,"endTime":4069.27,"body":"that distributing option may be"},{"speaker":"Nick Lincoln","startTime":4066.3599999999997,"endTime":4069.27,"body":"preferable for those seeking"},{"speaker":"Nick Lincoln","startTime":4069.27,"endTime":4072.5099999999998,"body":"income without triggering"},{"speaker":"Nick Lincoln","startTime":4069.27,"endTime":4072.5099999999998,"body":"capital gains, assuming one"},{"speaker":"Nick Lincoln","startTime":4072.5099999999998,"endTime":4075.06,"body":"never sells I'm curious about"},{"speaker":"Nick Lincoln","startTime":4072.5099999999998,"endTime":4075.06,"body":"your perspective on this do you"},{"speaker":"Nick Lincoln","startTime":4075.06,"endTime":4078.33,"body":"generally advise clients to opt"},{"speaker":"Nick Lincoln","startTime":4075.06,"endTime":4078.33,"body":"for distribution slash income"},{"speaker":"Nick Lincoln","startTime":4078.33,"endTime":4081.75,"body":"funds or accumulation funds in"},{"speaker":"Nick Lincoln","startTime":4078.33,"endTime":4081.75,"body":"such scenarios? Apologies in"},{"speaker":"Nick Lincoln","startTime":4081.75,"endTime":4083.58,"body":"advance for the technical"},{"speaker":"Nick Lincoln","startTime":4081.75,"endTime":4083.58,"body":"question. Thanks again for your"},{"speaker":"Nick Lincoln","startTime":4083.58,"endTime":4087.93,"body":"time and for the knowledge you"},{"speaker":"Nick Lincoln","startTime":4083.58,"endTime":4087.93,"body":"share on the podcast. Thank you,"},{"speaker":"Nick Lincoln","startTime":4087.93,"endTime":4097.83,"body":"Steven, Andy's gonna go first."},{"speaker":"Nick Lincoln","startTime":4087.93,"endTime":4097.83,"body":"Should we tell him he muted"},{"speaker":"Carl Widger","startTime":4099.1500000000005,"endTime":4100.62,"body":"Andrew, you're"},{"speaker":"Carl Widger","startTime":4099.1500000000005,"endTime":4100.62,"body":"muted."},{"speaker":"Andy Hart","startTime":4103.08,"endTime":4106.4400000000005,"body":"Rookie, rookie"},{"speaker":"Andy Hart","startTime":4103.08,"endTime":4106.4400000000005,"body":"rookie. All of my portfolios are"},{"speaker":"Andy Hart","startTime":4106.47,"endTime":4109.6500000000005,"body":"income portfolios. Yet, for the"},{"speaker":"Andy Hart","startTime":4106.47,"endTime":4109.6500000000005,"body":"point you've mentioned on the"},{"speaker":"Andy Hart","startTime":4109.68,"endTime":4112.38,"body":"general investment account, so I"},{"speaker":"Andy Hart","startTime":4109.68,"endTime":4112.38,"body":"don't have to trigger a CGT. If"},{"speaker":"Andy Hart","startTime":4112.38,"endTime":4114.42,"body":"we're taking a certain amount of"},{"speaker":"Andy Hart","startTime":4112.38,"endTime":4114.42,"body":"income, but it's reviewed every"},{"speaker":"Andy Hart","startTime":4114.42,"endTime":4119.04,"body":"year with clients. The fees are"},{"speaker":"Andy Hart","startTime":4114.42,"endTime":4119.04,"body":"taken from the income as"},{"speaker":"Andy Hart","startTime":4119.04,"endTime":4121.68,"body":"distributors, there's certain"},{"speaker":"Andy Hart","startTime":4119.04,"endTime":4121.68,"body":"amount of cash in the cash"},{"speaker":"Andy Hart","startTime":4121.68,"endTime":4124.14,"body":"account in all of the"},{"speaker":"Andy Hart","startTime":4121.68,"endTime":4124.14,"body":"portfolios. And every year I do"},{"speaker":"Andy Hart","startTime":4124.14,"endTime":4127.89,"body":"a rebalance, I wash some of the"},{"speaker":"Andy Hart","startTime":4124.14,"endTime":4127.89,"body":"cash into the worst performing"},{"speaker":"Andy Hart","startTime":4127.89,"endTime":4131.4000000000005,"body":"funds. So yeah, I use income"},{"speaker":"Andy Hart","startTime":4127.89,"endTime":4131.4000000000005,"body":"units and GA's. I think you do"},{"speaker":"Andy Hart","startTime":4131.4000000000005,"endTime":4132.6,"body":"the same, don't you? Nick, over"},{"speaker":"Andy Hart","startTime":4131.4000000000005,"endTime":4132.6,"body":"to you."},{"speaker":"Nick Lincoln","startTime":4133.77,"endTime":4139.6500000000005,"body":"Yeah, so there's"},{"speaker":"Nick Lincoln","startTime":4133.77,"endTime":4139.6500000000005,"body":"just muted. Oh, get lost? Yeah,"},{"speaker":"Nick Lincoln","startTime":4139.6500000000005,"endTime":4143.46,"body":"I use that income funds in, in"},{"speaker":"Nick Lincoln","startTime":4139.6500000000005,"endTime":4143.46,"body":"GIS for that reason. But as Alan"},{"speaker":"Nick Lincoln","startTime":4143.46,"endTime":4146.67,"body":"looted the capital gains"},{"speaker":"Nick Lincoln","startTime":4143.46,"endTime":4146.67,"body":"allowance has gone from 12,100."},{"speaker":"Nick Lincoln","startTime":4146.91,"endTime":4150.78,"body":"It's going down to 3000 pounds,"},{"speaker":"Nick Lincoln","startTime":4146.91,"endTime":4150.78,"body":"isn't it from? Well, a couple of"},{"speaker":"Nick Lincoln","startTime":4150.78,"endTime":4153.93,"body":"weeks time, you know, it's like"},{"speaker":"Nick Lincoln","startTime":4150.78,"endTime":4153.93,"body":"an 80% decline in the amount so"},{"speaker":"Nick Lincoln","startTime":4153.93,"endTime":4156.72,"body":"it's definitely become more"},{"speaker":"Nick Lincoln","startTime":4153.93,"endTime":4156.72,"body":"front of mind. And I use income"},{"speaker":"Nick Lincoln","startTime":4156.72,"endTime":4160.17,"body":"funds, Steven in dia just so we"},{"speaker":"Nick Lincoln","startTime":4156.72,"endTime":4160.17,"body":"have cash coming in, I don't"},{"speaker":"Nick Lincoln","startTime":4160.17,"endTime":4163.32,"body":"think sell funds down to pay for"},{"speaker":"Nick Lincoln","startTime":4160.17,"endTime":4163.32,"body":"the ongoing fees. That's,"},{"speaker":"Nick Lincoln","startTime":4163.32,"endTime":4166.62,"body":"that's, that's the reason why,"},{"speaker":"Nick Lincoln","startTime":4163.32,"endTime":4166.62,"body":"but I do then just do monthly"},{"speaker":"Nick Lincoln","startTime":4166.62,"endTime":4172.11,"body":"sales off of, of the units to"},{"speaker":"Nick Lincoln","startTime":4166.62,"endTime":4172.11,"body":"generate a defacto income but"},{"speaker":"Nick Lincoln","startTime":4172.11,"endTime":4173.97,"body":"obviously, I have to keep an eye"},{"speaker":"Nick Lincoln","startTime":4172.11,"endTime":4173.97,"body":"on that going forward. And"},{"speaker":"Nick Lincoln","startTime":4173.97,"endTime":4177.9,"body":"maybe, maybe we'll we'll change"},{"speaker":"Nick Lincoln","startTime":4173.97,"endTime":4177.9,"body":"how we look at GIS to try and"},{"speaker":"Nick Lincoln","startTime":4177.9,"endTime":4181.26,"body":"keep the CGT manageable at least"},{"speaker":"Nick Lincoln","startTime":4177.9,"endTime":4181.26,"body":"the rates of CDT are still very"},{"speaker":"Nick Lincoln","startTime":4181.29,"endTime":4185.46,"body":"benign, really on the 18th and"},{"speaker":"Nick Lincoln","startTime":4181.29,"endTime":4185.46,"body":"20% or 10 and 10% 18% is that"},{"speaker":"Nick Lincoln","startTime":4185.46,"endTime":4190.11,"body":"it's not 20 it's not yet"},{"speaker":"Nick Lincoln","startTime":4185.46,"endTime":4190.11,"body":"significant issue, but it's"},{"speaker":"Nick Lincoln","startTime":4190.11,"endTime":4192.96,"body":"something I will be looking at."},{"speaker":"Nick Lincoln","startTime":4190.11,"endTime":4192.96,"body":"That's quite a technical"},{"speaker":"Nick Lincoln","startTime":4192.96,"endTime":4197.04,"body":"explanation and then if Carl or"},{"speaker":"Nick Lincoln","startTime":4192.96,"endTime":4197.04,"body":"Alexandre to add to that, no,"},{"speaker":"Nick Lincoln","startTime":4197.28,"endTime":4201.51,"body":"okay, fine. Sorry, Steven. We"},{"speaker":"Nick Lincoln","startTime":4197.28,"endTime":4201.51,"body":"kind of fudged our answers there"},{"speaker":"Nick Lincoln","startTime":4201.51,"endTime":4208.68,"body":"between myself and Andrew. Okay,"},{"speaker":"Nick Lincoln","startTime":4201.51,"endTime":4208.68,"body":"let's move on no further ado to"},{"speaker":"Nick Lincoln","startTime":4208.71,"endTime":4210.33,"body":"what many people call culture"},{"speaker":"Nick Lincoln","startTime":4208.71,"endTime":4210.33,"body":"corner"},{"speaker":"Andy Hart","startTime":4220.709,"endTime":4222.0289999999995,"body":"call your first meet"},{"speaker":"Andy Hart","startTime":4220.709,"endTime":4222.0289999999995,"body":"with"},{"speaker":"Carl Widger","startTime":4225.2699999999995,"endTime":4230.4,"body":"okay, I know what"},{"speaker":"Carl Widger","startTime":4225.2699999999995,"endTime":4230.4,"body":"this one is. I think what's the"},{"speaker":"Carl Widger","startTime":4230.4,"endTime":4234.63,"body":"podcast called again too long so"},{"speaker":"Carl Widger","startTime":4230.4,"endTime":4234.63,"body":"I came across like a long term"},{"speaker":"Carl Widger","startTime":4234.63,"endTime":4238.32,"body":"investing podcast or something"},{"speaker":"Carl Widger","startTime":4234.63,"endTime":4238.32,"body":"like that over heater Lazaroff"},{"speaker":"Carl Widger","startTime":4238.3499999999995,"endTime":4241.2,"body":"but it's it's a particular"},{"speaker":"Carl Widger","startTime":4238.3499999999995,"endTime":4241.2,"body":"episode he does a card Richards"},{"speaker":"Carl Widger","startTime":4241.47,"endTime":4246.03,"body":"we're actually card Richards"},{"speaker":"Carl Widger","startTime":4241.47,"endTime":4246.03,"body":"talks through our explains his"},{"speaker":"Carl Widger","startTime":4246.03,"endTime":4249.57,"body":"most famous sketches. It's"},{"speaker":"Carl Widger","startTime":4246.03,"endTime":4249.57,"body":"really really good and then I"},{"speaker":"Carl Widger","startTime":4249.63,"endTime":4252.9,"body":"went through this show a little"},{"speaker":"Carl Widger","startTime":4249.63,"endTime":4252.9,"body":"bit more and he's like got some"},{"speaker":"Carl Widger","startTime":4253.14,"endTime":4257.7,"body":"really good short episodes."},{"speaker":"Carl Widger","startTime":4253.14,"endTime":4257.7,"body":"Explaining a lot of the concepts"},{"speaker":"Carl Widger","startTime":4257.7,"endTime":4261.57,"body":"we talked about a lot so"},{"speaker":"Carl Widger","startTime":4257.7,"endTime":4261.57,"body":"definitely well worth for any"},{"speaker":"Carl Widger","startTime":4261.57,"endTime":4264.51,"body":"younger advisors coming in. I"},{"speaker":"Carl Widger","startTime":4261.57,"endTime":4264.51,"body":"think this one will be really"},{"speaker":"Carl Widger","startTime":4264.51,"endTime":4269.25,"body":"brilliant. But But there was one"},{"speaker":"Carl Widger","startTime":4264.51,"endTime":4269.25,"body":"particular episode not the one"},{"speaker":"Carl Widger","startTime":4269.25,"endTime":4271.5599999999995,"body":"I've shared the Carl Richards"},{"speaker":"Carl Widger","startTime":4269.25,"endTime":4271.5599999999995,"body":"one is really good, but I think"},{"speaker":"Carl Widger","startTime":4271.5599999999995,"endTime":4275.13,"body":"it's a five reasons you need a"},{"speaker":"Carl Widger","startTime":4271.5599999999995,"endTime":4275.13,"body":"financial plan that have nothing"},{"speaker":"Carl Widger","startTime":4275.13,"endTime":4278.46,"body":"to do with money. I think it's"},{"speaker":"Carl Widger","startTime":4275.13,"endTime":4278.46,"body":"11 minutes long. And I shared it"},{"speaker":"Carl Widger","startTime":4278.46,"endTime":4281.67,"body":"with the private line managers"},{"speaker":"Carl Widger","startTime":4278.46,"endTime":4281.67,"body":"here. It's just really really"},{"speaker":"Carl Widger","startTime":4281.67,"endTime":4286.83,"body":"good stuff. And you know, it's"},{"speaker":"Carl Widger","startTime":4281.67,"endTime":4286.83,"body":"really short really sharp. So"},{"speaker":"Carl Widger","startTime":4286.83,"endTime":4290.16,"body":"yeah, it's a really good find"},{"speaker":"Carl Widger","startTime":4286.83,"endTime":4290.16,"body":"this podcast. But I've only"},{"speaker":"Carl Widger","startTime":4290.16,"endTime":4292.8,"body":"listened to I think four"},{"speaker":"Carl Widger","startTime":4290.16,"endTime":4292.8,"body":"episodes so the longer one the"},{"speaker":"Carl Widger","startTime":4292.8,"endTime":4295.23,"body":"current Rich's one and then some"},{"speaker":"Carl Widger","startTime":4292.8,"endTime":4295.23,"body":"some shorter ones, which I"},{"speaker":"Carl Widger","startTime":4295.26,"endTime":4298.47,"body":"thought were really good. So"},{"speaker":"Carl Widger","startTime":4295.26,"endTime":4298.47,"body":"yeah, big, big recommendation"},{"speaker":"Carl Widger","startTime":4298.47,"endTime":4300.54,"body":"that one for me. Great stuff."},{"speaker":"Alan Smith","startTime":4301.44,"endTime":4305.55,"body":"Very good. As you"},{"speaker":"Alan Smith","startTime":4301.44,"endTime":4305.55,"body":"guys know, Paul Richards is our"},{"speaker":"Alan Smith","startTime":4305.61,"endTime":4310.95,"body":"close personal first interview."},{"speaker":"Alan Smith","startTime":4305.61,"endTime":4310.95,"body":"Did you Did you see that clip"},{"speaker":"Alan Smith","startTime":4310.98,"endTime":4317.79,"body":"that I shared with you keeps his"},{"speaker":"Alan Smith","startTime":4310.98,"endTime":4317.79,"body":"cars and he talks about one of"},{"speaker":"Alan Smith","startTime":4317.79,"endTime":4320.04,"body":"his favorite human beings on the"},{"speaker":"Alan Smith","startTime":4317.79,"endTime":4320.04,"body":"planet."},{"speaker":"Carl Widger","startTime":4323.28,"endTime":4325.62,"body":"Only cost Ireland"},{"speaker":"Carl Widger","startTime":4323.28,"endTime":4325.62,"body":"seven and a half grand. Yeah."},{"speaker":"Alan Smith","startTime":4326.04,"endTime":4330.0,"body":"absolute bargain."},{"speaker":"Alan Smith","startTime":4326.04,"endTime":4330.0,"body":"No. That's that's a good podcast"},{"speaker":"Alan Smith","startTime":4330.0,"endTime":4334.65,"body":"and call and Kitces show that"},{"speaker":"Alan Smith","startTime":4330.0,"endTime":4334.65,"body":"they just chewed the fat. Repeat"},{"speaker":"Alan Smith","startTime":4334.65,"endTime":4338.79,"body":"all weekend? It is yeah. It's"},{"speaker":"Alan Smith","startTime":4334.65,"endTime":4338.79,"body":"all my friends four minutes or"},{"speaker":"Alan Smith","startTime":4338.79,"endTime":4340.23,"body":"seven? Gotta four minutes or"},{"speaker":"Alan Smith","startTime":4338.79,"endTime":4340.23,"body":"seven."},{"speaker":"Carl Widger","startTime":4342.72,"endTime":4344.3099999999995,"body":"YouTube shorts."},{"speaker":"Carl Widger","startTime":4342.72,"endTime":4344.3099999999995,"body":"Yeah,"},{"speaker":"Alan Smith","startTime":4344.34,"endTime":4349.41,"body":"it's good. My"},{"speaker":"Alan Smith","startTime":4344.34,"endTime":4349.41,"body":"contribution this week is an app"},{"speaker":"Alan Smith","startTime":4349.44,"endTime":4355.74,"body":"called mentor wrist. link in the"},{"speaker":"Alan Smith","startTime":4349.44,"endTime":4355.74,"body":"show notes. I've dabbled in the"},{"speaker":"Alan Smith","startTime":4355.74,"endTime":4360.0599999999995,"body":"past with book summary apps like"},{"speaker":"Alan Smith","startTime":4355.74,"endTime":4360.0599999999995,"body":"Blinkist and others which are"},{"speaker":"Alan Smith","startTime":4360.12,"endTime":4364.62,"body":"okay. Don't love it, it will."},{"speaker":"Alan Smith","startTime":4360.12,"endTime":4364.62,"body":"Okay. There are some books that"},{"speaker":"Alan Smith","startTime":4364.62,"endTime":4368.07,"body":"I not sure whether I should sort"},{"speaker":"Alan Smith","startTime":4364.62,"endTime":4368.07,"body":"of invested time and energy to"},{"speaker":"Alan Smith","startTime":4368.07,"endTime":4371.58,"body":"get into them. So book summary"},{"speaker":"Alan Smith","startTime":4368.07,"endTime":4371.58,"body":"can be quite useful sort of cut"},{"speaker":"Alan Smith","startTime":4371.58,"endTime":4373.32,"body":"to the chase and get to the"},{"speaker":"Alan Smith","startTime":4371.58,"endTime":4373.32,"body":"point. And if you think"},{"speaker":"Alan Smith","startTime":4373.32,"endTime":4376.2,"body":"actually, this is really really"},{"speaker":"Alan Smith","startTime":4373.32,"endTime":4376.2,"body":"good or interesting, by all"},{"speaker":"Alan Smith","startTime":4376.2,"endTime":4379.08,"body":"means go and read the full book"},{"speaker":"Alan Smith","startTime":4376.2,"endTime":4379.08,"body":"but mentor estate's a slightly"},{"speaker":"Alan Smith","startTime":4379.08,"endTime":4383.16,"body":"different take on it. I've often"},{"speaker":"Alan Smith","startTime":4379.08,"endTime":4383.16,"body":"thought about, you know, you"},{"speaker":"Alan Smith","startTime":4383.16,"endTime":4386.61,"body":"read these nonfiction books, and"},{"speaker":"Alan Smith","startTime":4383.16,"endTime":4386.61,"body":"there's often some good ideas."},{"speaker":"Alan Smith","startTime":4386.61,"endTime":4389.0999999999995,"body":"And yes, your Nick and I use"},{"speaker":"Alan Smith","startTime":4386.61,"endTime":4389.0999999999995,"body":"something called Read wise, and"},{"speaker":"Alan Smith","startTime":4389.0999999999995,"endTime":4392.13,"body":"it sort of resurfaces all the"},{"speaker":"Alan Smith","startTime":4389.0999999999995,"endTime":4392.13,"body":"highlights that you've you've"},{"speaker":"Alan Smith","startTime":4392.13,"endTime":4395.0999999999995,"body":"highlighted in the past and but"},{"speaker":"Alan Smith","startTime":4392.13,"endTime":4395.0999999999995,"body":"there isn't necessarily any"},{"speaker":"Alan Smith","startTime":4395.0999999999995,"endTime":4398.7,"body":"follow up or any specific"},{"speaker":"Alan Smith","startTime":4395.0999999999995,"endTime":4398.7,"body":"actions that you might choose to"},{"speaker":"Alan Smith","startTime":4398.7,"endTime":4402.0,"body":"do. I try to do things sort of"},{"speaker":"Alan Smith","startTime":4398.7,"endTime":4402.0,"body":"myself, but mentor is what it"},{"speaker":"Alan Smith","startTime":4402.0,"endTime":4404.73,"body":"does. All the best books you've"},{"speaker":"Alan Smith","startTime":4402.0,"endTime":4404.73,"body":"ever heard all the best sort of"},{"speaker":"Alan Smith","startTime":4405.03,"endTime":4409.2,"body":"nonfiction books are listed"},{"speaker":"Alan Smith","startTime":4405.03,"endTime":4409.2,"body":"there. But part of the process"},{"speaker":"Alan Smith","startTime":4409.2,"endTime":4412.86,"body":"is it will give you a task or a"},{"speaker":"Alan Smith","startTime":4409.2,"endTime":4412.86,"body":"project or a thing to do. If you"},{"speaker":"Alan Smith","startTime":4412.86,"endTime":4417.48,"body":"like the key ideas that came"},{"speaker":"Alan Smith","startTime":4412.86,"endTime":4417.48,"body":"from reading that book, it will"},{"speaker":"Alan Smith","startTime":4417.48,"endTime":4421.0199999999995,"body":"say here's something to go and"},{"speaker":"Alan Smith","startTime":4417.48,"endTime":4421.0199999999995,"body":"do now. And then next week,"},{"speaker":"Alan Smith","startTime":4421.05,"endTime":4425.46,"body":"which will help you sort of"},{"speaker":"Alan Smith","startTime":4421.05,"endTime":4425.46,"body":"understand embed and learn the"},{"speaker":"Alan Smith","startTime":4425.46,"endTime":4429.36,"body":"key points of this book. The app"},{"speaker":"Alan Smith","startTime":4425.46,"endTime":4429.36,"body":"is actually free provided you"},{"speaker":"Alan Smith","startTime":4429.36,"endTime":4432.66,"body":"don't do like loads of them. But"},{"speaker":"Alan Smith","startTime":4429.36,"endTime":4432.66,"body":"for me more if I was doing one a"},{"speaker":"Alan Smith","startTime":4432.66,"endTime":4435.24,"body":"week that would be more than"},{"speaker":"Alan Smith","startTime":4432.66,"endTime":4435.24,"body":"enough for me to do so it's"},{"speaker":"Alan Smith","startTime":4435.24,"endTime":4439.44,"body":"free. And if you pay for the"},{"speaker":"Alan Smith","startTime":4435.24,"endTime":4439.44,"body":"full thing, it's only 1499 which"},{"speaker":"Alan Smith","startTime":4439.44,"endTime":4442.74,"body":"is a lot cheaper than Blinky a"},{"speaker":"Alan Smith","startTime":4439.44,"endTime":4442.74,"body":"switch things at least 70 or 90"},{"speaker":"Alan Smith","startTime":4442.7699999999995,"endTime":4445.92,"body":"pounds per year. That's per"},{"speaker":"Alan Smith","startTime":4442.7699999999995,"endTime":4445.92,"body":"year, as you say 1499 for annual"},{"speaker":"Alan Smith","startTime":4445.92,"endTime":4449.73,"body":"things. So many interest if you"},{"speaker":"Alan Smith","startTime":4445.92,"endTime":4449.73,"body":"like personal development and"},{"speaker":"Alan Smith","startTime":4449.73,"endTime":4452.94,"body":"learning and acting on some of"},{"speaker":"Alan Smith","startTime":4449.73,"endTime":4452.94,"body":"these great books that are out"},{"speaker":"Alan Smith","startTime":4452.94,"endTime":4457.2,"body":"there and executing on some of"},{"speaker":"Alan Smith","startTime":4452.94,"endTime":4457.2,"body":"the key learns from them. Check"},{"speaker":"Alan Smith","startTime":4457.2,"endTime":4458.5199999999995,"body":"it out. That's it."},{"speaker":"Nick Lincoln","startTime":4460.08,"endTime":4461.97,"body":"Okie dokie I am"},{"speaker":"Nick Lincoln","startTime":4460.08,"endTime":4461.97,"body":"reading a book I haven't"},{"speaker":"Nick Lincoln","startTime":4461.97,"endTime":4464.43,"body":"finished yet but I am actually"},{"speaker":"Nick Lincoln","startTime":4461.97,"endTime":4464.43,"body":"reading it. So I am consuming."},{"speaker":"Nick Lincoln","startTime":4464.46,"endTime":4466.71,"body":"I'm about halfway through on"},{"speaker":"Nick Lincoln","startTime":4464.46,"endTime":4466.71,"body":"Kindle. I've fallen back in love"},{"speaker":"Nick Lincoln","startTime":4466.71,"endTime":4469.5599999999995,"body":"with Kindle. I've put it on my"},{"speaker":"Nick Lincoln","startTime":4466.71,"endTime":4469.5599999999995,"body":"audible subscription lapse"},{"speaker":"Nick Lincoln","startTime":4469.5599999999995,"endTime":4476.01,"body":"actually. It's a book called The"},{"speaker":"Nick Lincoln","startTime":4469.5599999999995,"endTime":4476.01,"body":"fund the fund and it's about Ray"},{"speaker":"Nick Lincoln","startTime":4476.04,"endTime":4480.96,"body":"Dalio and Bridgewater. It's an"},{"speaker":"Nick Lincoln","startTime":4476.04,"endTime":4480.96,"body":"unauthorized account of"},{"speaker":"Nick Lincoln","startTime":4481.08,"endTime":4484.32,"body":"Bridgewater and Ray Dalio. My"},{"speaker":"Nick Lincoln","startTime":4481.08,"endTime":4484.32,"body":"brother in law gave me a book a"},{"speaker":"Nick Lincoln","startTime":4484.32,"endTime":4486.69,"body":"few years ago called them"},{"speaker":"Nick Lincoln","startTime":4484.32,"endTime":4486.69,"body":"principles for dealing with the"},{"speaker":"Nick Lincoln","startTime":4486.69,"endTime":4490.08,"body":"changing world order. Why"},{"speaker":"Nick Lincoln","startTime":4486.69,"endTime":4490.08,"body":"nations succeed and fail by Ray"},{"speaker":"Nick Lincoln","startTime":4490.08,"endTime":4493.08,"body":"Dalio. And I got about a chapter"},{"speaker":"Nick Lincoln","startTime":4490.08,"endTime":4493.08,"body":"in and thought this is just"},{"speaker":"Nick Lincoln","startTime":4493.29,"endTime":4496.74,"body":"garbage and it's unreadable, but"},{"speaker":"Nick Lincoln","startTime":4493.29,"endTime":4496.74,"body":"it hit him prognosticating about"},{"speaker":"Nick Lincoln","startTime":4496.74,"endTime":4499.11,"body":"what's going to happen next,"},{"speaker":"Nick Lincoln","startTime":4496.74,"endTime":4499.11,"body":"based on trends and so forth. I"},{"speaker":"Nick Lincoln","startTime":4499.11,"endTime":4501.51,"body":"just thought, you know, the"},{"speaker":"Nick Lincoln","startTime":4499.11,"endTime":4501.51,"body":"sunken cost fallacy, I'm quite"},{"speaker":"Nick Lincoln","startTime":4501.51,"endTime":4504.2699999999995,"body":"strict now with books if I'm not"},{"speaker":"Nick Lincoln","startTime":4501.51,"endTime":4504.2699999999995,"body":"enjoying it off of what I've put"},{"speaker":"Nick Lincoln","startTime":4504.2699999999995,"endTime":4506.46,"body":"the book down and go on to the"},{"speaker":"Nick Lincoln","startTime":4504.2699999999995,"endTime":4506.46,"body":"next book. I used to plow"},{"speaker":"Nick Lincoln","startTime":4506.46,"endTime":4508.65,"body":"through thinking I've got to"},{"speaker":"Nick Lincoln","startTime":4506.46,"endTime":4508.65,"body":"commit to this there must be"},{"speaker":"Nick Lincoln","startTime":4508.65,"endTime":4511.23,"body":"something in this and then"},{"speaker":"Nick Lincoln","startTime":4508.65,"endTime":4511.23,"body":"you've wasted years of your life"},{"speaker":"Nick Lincoln","startTime":4511.23,"endTime":4513.0599999999995,"body":"getting through a book you never"},{"speaker":"Nick Lincoln","startTime":4511.23,"endTime":4513.0599999999995,"body":"really enjoy. So I send it back"},{"speaker":"Nick Lincoln","startTime":4513.0599999999995,"endTime":4516.3,"body":"to my brother in law. The fund"},{"speaker":"Nick Lincoln","startTime":4513.0599999999995,"endTime":4516.3,"body":"is a really interesting read and"},{"speaker":"Nick Lincoln","startTime":4516.84,"endTime":4523.7699999999995,"body":"listen, Bridgewater at in times"},{"speaker":"Nick Lincoln","startTime":4516.84,"endTime":4523.7699999999995,"body":"past has superb performance, you"},{"speaker":"Nick Lincoln","startTime":4523.7699999999995,"endTime":4526.3499999999995,"body":"know, to funds that do something"},{"speaker":"Nick Lincoln","startTime":4523.7699999999995,"endTime":4526.3499999999995,"body":"Alpha Fund and the All Weather"},{"speaker":"Nick Lincoln","startTime":4526.3499999999995,"endTime":4529.3499999999995,"body":"Fund and the two main funds, but"},{"speaker":"Nick Lincoln","startTime":4526.3499999999995,"endTime":4529.3499999999995,"body":"a lot of that past performance"},{"speaker":"Nick Lincoln","startTime":4529.3499999999995,"endTime":4533.82,"body":"is in the past. It's not been so"},{"speaker":"Nick Lincoln","startTime":4529.3499999999995,"endTime":4533.82,"body":"clever recently. And I know he's"},{"speaker":"Nick Lincoln","startTime":4533.82,"endTime":4535.86,"body":"having some trouble with some"},{"speaker":"Nick Lincoln","startTime":4533.82,"endTime":4535.86,"body":"pension funds in the US are"},{"speaker":"Nick Lincoln","startTime":4535.86,"endTime":4538.59,"body":"pulling out of Bridgewater but"},{"speaker":"Nick Lincoln","startTime":4535.86,"endTime":4538.59,"body":"he's a highly successful guy."},{"speaker":"Nick Lincoln","startTime":4538.59,"endTime":4540.69,"body":"He's probably the most well"},{"speaker":"Nick Lincoln","startTime":4538.59,"endTime":4540.69,"body":"known hedge fund manager in the"},{"speaker":"Nick Lincoln","startTime":4540.69,"endTime":4543.93,"body":"world. He's had massive"},{"speaker":"Nick Lincoln","startTime":4540.69,"endTime":4543.93,"body":"remuneration from from"},{"speaker":"Nick Lincoln","startTime":4543.93,"endTime":4547.7699999999995,"body":"Bridgewater, certainly as he"},{"speaker":"Nick Lincoln","startTime":4543.93,"endTime":4547.7699999999995,"body":"earns three or 4 billion US"},{"speaker":"Nick Lincoln","startTime":4547.7699999999995,"endTime":4551.07,"body":"dollars. That's his income from"},{"speaker":"Nick Lincoln","startTime":4547.7699999999995,"endTime":4551.07,"body":"Bridgewater, but this book is is"},{"speaker":"Nick Lincoln","startTime":4551.07,"endTime":4553.83,"body":"revealing he has these"},{"speaker":"Nick Lincoln","startTime":4551.07,"endTime":4553.83,"body":"principles. You know, I think"},{"speaker":"Nick Lincoln","startTime":4553.83,"endTime":4557.79,"body":"it's just it's just hubris. This"},{"speaker":"Nick Lincoln","startTime":4553.83,"endTime":4557.79,"body":"is a guy who had you know, grew"},{"speaker":"Nick Lincoln","startTime":4557.79,"endTime":4560.79,"body":"up it has grown a magnificent"},{"speaker":"Nick Lincoln","startTime":4557.79,"endTime":4560.79,"body":"firm, based on performance,"},{"speaker":"Nick Lincoln","startTime":4560.79,"endTime":4564.12,"body":"which is pretty in the past and"},{"speaker":"Nick Lincoln","startTime":4560.79,"endTime":4564.12,"body":"he's just it doesn't come"},{"speaker":"Nick Lincoln","startTime":4564.12,"endTime":4566.91,"body":"across, particularly likeable."},{"speaker":"Nick Lincoln","startTime":4564.12,"endTime":4566.91,"body":"It's a very it's a very much a"},{"speaker":"Nick Lincoln","startTime":4566.91,"endTime":4572.25,"body":"culty kind of place and it's he"},{"speaker":"Nick Lincoln","startTime":4566.91,"endTime":4572.25,"body":"just dominates it. You know, he"},{"speaker":"Nick Lincoln","startTime":4572.25,"endTime":4574.74,"body":"has all this with a P codifies"},{"speaker":"Nick Lincoln","startTime":4572.25,"endTime":4574.74,"body":"it and there's rules called"},{"speaker":"Nick Lincoln","startTime":4574.74,"endTime":4577.44,"body":"Principles, how people will"},{"speaker":"Nick Lincoln","startTime":4574.74,"endTime":4577.44,"body":"behave If and it's not just a"},{"speaker":"Nick Lincoln","startTime":4577.44,"endTime":4580.5,"body":"work it's a whole thing for life"},{"speaker":"Nick Lincoln","startTime":4577.44,"endTime":4580.5,"body":"and you have any he has this"},{"speaker":"Nick Lincoln","startTime":4580.5,"endTime":4583.3499999999995,"body":"grading everyone's grading each"},{"speaker":"Nick Lincoln","startTime":4580.5,"endTime":4583.3499999999995,"body":"other all the time Aboriginals"},{"speaker":"Nick Lincoln","startTime":4583.3499999999995,"endTime":4585.57,"body":"all the staff have these"},{"speaker":"Nick Lincoln","startTime":4583.3499999999995,"endTime":4585.57,"body":"scorecards and you go around"},{"speaker":"Nick Lincoln","startTime":4585.75,"endTime":4589.5,"body":"compiling them and it's just"},{"speaker":"Nick Lincoln","startTime":4585.75,"endTime":4589.5,"body":"really micromanaging the nth"},{"speaker":"Nick Lincoln","startTime":4589.5,"endTime":4591.75,"body":"degree and he's not very happy"},{"speaker":"Nick Lincoln","startTime":4589.5,"endTime":4591.75,"body":"about this we're being patient"},{"speaker":"Nick Lincoln","startTime":4591.75,"endTime":4594.03,"body":"and we should do that for each"},{"speaker":"Nick Lincoln","startTime":4591.75,"endTime":4594.03,"body":"other what do you think? Oh my"},{"speaker":"Nick Lincoln","startTime":4594.03,"endTime":4599.07,"body":"god can you imagine well we know"},{"speaker":"Nick Lincoln","startTime":4594.03,"endTime":4599.07,"body":"cut to the chase we were rubbish"},{"speaker":"Nick Lincoln","startTime":4599.43,"endTime":4600.0599999999995,"body":"minus"},{"speaker":"Carl Widger","startTime":4600.09,"endTime":4601.0199999999995,"body":"numbers please"},{"speaker":"Nick Lincoln","startTime":4601.44,"endTime":4605.13,"body":"said the finest is"},{"speaker":"Nick Lincoln","startTime":4601.44,"endTime":4605.13,"body":"an interesting story is his his"},{"speaker":"Nick Lincoln","startTime":4605.13,"endTime":4607.65,"body":"his life story. So it's"},{"speaker":"Nick Lincoln","startTime":4605.13,"endTime":4607.65,"body":"interesting the fun I'm going"},{"speaker":"Nick Lincoln","startTime":4607.65,"endTime":4609.5999999999995,"body":"through a great link so if"},{"speaker":"Nick Lincoln","startTime":4607.65,"endTime":4609.5999999999995,"body":"you're interested in that kind"},{"speaker":"Nick Lincoln","startTime":4609.5999999999995,"endTime":4613.3499999999995,"body":"of thing. The fund about Ray"},{"speaker":"Nick Lincoln","startTime":4609.5999999999995,"endTime":4613.3499999999995,"body":"Dalio I recommend you get"},{"speaker":"Andy Hart","startTime":4613.3499999999995,"endTime":4616.38,"body":"that I did enjoy"},{"speaker":"Andy Hart","startTime":4613.3499999999995,"endTime":4616.38,"body":"principles is the first book I"},{"speaker":"Andy Hart","startTime":4616.38,"endTime":4618.51,"body":"think you're talking about maybe"},{"speaker":"Andy Hart","startTime":4616.38,"endTime":4618.51,"body":"the second one that came out"},{"speaker":"Andy Hart","startTime":4618.5999999999995,"endTime":4622.2,"body":"Yeah, it's not that one. Yeah,"},{"speaker":"Andy Hart","startTime":4618.5999999999995,"endTime":4622.2,"body":"got quite a nice voice easy to"},{"speaker":"Andy Hart","startTime":4622.2,"endTime":4626.07,"body":"listen to an audible from I'm a"},{"speaker":"Andy Hart","startTime":4622.2,"endTime":4626.07,"body":"bit of a fan. I"},{"speaker":"Carl Widger","startTime":4626.07,"endTime":4629.22,"body":"really did enjoy"},{"speaker":"Carl Widger","startTime":4626.07,"endTime":4629.22,"body":"principles and interested in"},{"speaker":"Carl Widger","startTime":4629.25,"endTime":4634.74,"body":"Nick a client of mine rocked"},{"speaker":"Carl Widger","startTime":4629.25,"endTime":4634.74,"body":"into his his review with that"},{"speaker":"Carl Widger","startTime":4634.74,"endTime":4637.2,"body":"book and give me a hard copy of"},{"speaker":"Carl Widger","startTime":4634.74,"endTime":4637.2,"body":"it but I haven't read it yet. So"},{"speaker":"Carl Widger","startTime":4637.23,"endTime":4637.74,"body":"well the fun"},{"speaker":"Nick Lincoln","startTime":4638.58,"endTime":4641.58,"body":"Yeah. Oh, well."},{"speaker":"Nick Lincoln","startTime":4638.58,"endTime":4641.58,"body":"That means that it's getting the"},{"speaker":"Nick Lincoln","startTime":4641.58,"endTime":4641.97,"body":"message"},{"speaker":"Carl Widger","startTime":4641.97,"endTime":4643.83,"body":"is getting through"},{"speaker":"Carl Widger","startTime":4641.97,"endTime":4643.83,"body":"that we should be doing indexing"},{"speaker":"Carl Widger","startTime":4643.83,"endTime":4646.08,"body":"and look here's here's the"},{"speaker":"Carl Widger","startTime":4643.83,"endTime":4646.08,"body":"reason we're not doing active"},{"speaker":"Carl Widger","startTime":4646.08,"endTime":4648.36,"body":"management or whatever seems"},{"speaker":"Carl Widger","startTime":4646.08,"endTime":4648.36,"body":"really good. Now he's"},{"speaker":"Nick Lincoln","startTime":4648.45,"endTime":4649.98,"body":"the performance"},{"speaker":"Nick Lincoln","startTime":4648.45,"endTime":4649.98,"body":"wise that they have they have"},{"speaker":"Nick Lincoln","startTime":4649.98,"endTime":4652.98,"body":"they have struggle, they have"},{"speaker":"Nick Lincoln","startTime":4649.98,"endTime":4652.98,"body":"struggle and just struggling you"},{"speaker":"Nick Lincoln","startTime":4652.98,"endTime":4655.2,"body":"know reading the book him He"},{"speaker":"Nick Lincoln","startTime":4652.98,"endTime":4655.2,"body":"He's famous for getting certain"},{"speaker":"Nick Lincoln","startTime":4655.2,"endTime":4657.8099999999995,"body":"bets, right? But he's made so"},{"speaker":"Nick Lincoln","startTime":4655.2,"endTime":4657.8099999999995,"body":"many bets wrong, but he just"},{"speaker":"Nick Lincoln","startTime":4657.8099999999995,"endTime":4660.09,"body":"keeps on making the next bet and"},{"speaker":"Nick Lincoln","startTime":4657.8099999999995,"endTime":4660.09,"body":"then suddenly, like a stop clock"},{"speaker":"Nick Lincoln","startTime":4660.09,"endTime":4662.46,"body":"is right, you know, and then it"},{"speaker":"Nick Lincoln","startTime":4660.09,"endTime":4662.46,"body":"gives them back on it sort of"},{"speaker":"Nick Lincoln","startTime":4662.46,"endTime":4665.22,"body":"thing. So interesting. Okay, we"},{"speaker":"Nick Lincoln","startTime":4662.46,"endTime":4665.22,"body":"have one more culture corner."},{"speaker":"Andy Hart","startTime":4666.18,"endTime":4670.11,"body":"This is a blog post"},{"speaker":"Andy Hart","startTime":4666.18,"endTime":4670.11,"body":"on the website. quizlet.com is"},{"speaker":"Andy Hart","startTime":4670.11,"endTime":4673.59,"body":"entitled The seven laws of"},{"speaker":"Andy Hart","startTime":4670.11,"endTime":4673.59,"body":"pessimism. If life is better"},{"speaker":"Andy Hart","startTime":4673.59,"endTime":4676.71,"body":"than ever before, why does the"},{"speaker":"Andy Hart","startTime":4673.59,"endTime":4676.71,"body":"world seem so depressing? I"},{"speaker":"Andy Hart","startTime":4676.71,"endTime":4680.34,"body":"recommend you read it. It's got"},{"speaker":"Andy Hart","startTime":4676.71,"endTime":4680.34,"body":"seven key points in it. Share it"},{"speaker":"Andy Hart","startTime":4680.34,"endTime":4683.67,"body":"with a few your clients if you"},{"speaker":"Andy Hart","startTime":4680.34,"endTime":4683.67,"body":"wish to. That's it back to your"},{"speaker":"Andy Hart","startTime":4683.67,"endTime":4684.09,"body":"boss."},{"speaker":"Nick Lincoln","startTime":4684.42,"endTime":4686.49,"body":"Very good Irish"},{"speaker":"Nick Lincoln","startTime":4684.42,"endTime":4686.49,"body":"listen to the Quizlet podcast is"},{"speaker":"Nick Lincoln","startTime":4686.49,"endTime":4689.64,"body":"quite it's decent poker Canadian"},{"speaker":"Nick Lincoln","startTime":4686.49,"endTime":4689.64,"body":"guy called Jonathan Cain Monza"},{"speaker":"Nick Lincoln","startTime":4690.21,"endTime":4693.12,"body":"comes from a sort of centrist"},{"speaker":"Nick Lincoln","startTime":4690.21,"endTime":4693.12,"body":"leftist position, but he's, he's"},{"speaker":"Nick Lincoln","startTime":4693.12,"endTime":4696.93,"body":"switched on and it's an eclectic"},{"speaker":"Nick Lincoln","startTime":4693.12,"endTime":4696.93,"body":"mix of people from around the"},{"speaker":"Nick Lincoln","startTime":4696.93,"endTime":4701.58,"body":"world on the quality Lincoln"},{"speaker":"Nick Lincoln","startTime":4696.93,"endTime":4701.58,"body":"seal of approval. So there you"},{"speaker":"Nick Lincoln","startTime":4701.58,"endTime":4704.64,"body":"go. Nothing better. And that's"},{"speaker":"Nick Lincoln","startTime":4701.58,"endTime":4704.64,"body":"that is the golden picture for"},{"speaker":"Nick Lincoln","startTime":4704.64,"endTime":4708.42,"body":"that kind of thing. Okay,"},{"speaker":"Nick Lincoln","startTime":4704.64,"endTime":4708.42,"body":"listen, we're at we're at 77"},{"speaker":"Nick Lincoln","startTime":4708.42,"endTime":4711.66,"body":"minutes I don't think the Tech"},{"speaker":"Nick Lincoln","startTime":4708.42,"endTime":4711.66,"body":"has collapsed Alan's she left"},{"speaker":"Nick Lincoln","startTime":4711.66,"endTime":4714.54,"body":"the recording a comeback. I"},{"speaker":"Nick Lincoln","startTime":4711.66,"endTime":4714.54,"body":"think she's probably about that,"},{"speaker":"Nick Lincoln","startTime":4714.54,"endTime":4718.08,"body":"but I'm sure it's gonna be fine."},{"speaker":"Nick Lincoln","startTime":4714.54,"endTime":4718.08,"body":"So do TRAPPIST that is a wrap"},{"speaker":"Nick Lincoln","startTime":4718.08,"endTime":4723.03,"body":"for episode 4242 The answer to"},{"speaker":"Nick Lincoln","startTime":4718.08,"endTime":4723.03,"body":"life, the universe and"},{"speaker":"Nick Lincoln","startTime":4723.03,"endTime":4725.73,"body":"everything can be found in this"},{"speaker":"Nick Lincoln","startTime":4723.03,"endTime":4725.73,"body":"episode of trap. Thank you for"},{"speaker":"Nick Lincoln","startTime":4725.73,"endTime":4728.67,"body":"your time. Please do give us a"},{"speaker":"Nick Lincoln","startTime":4725.73,"endTime":4728.67,"body":"review. Don't just give us a"},{"speaker":"Nick Lincoln","startTime":4728.67,"endTime":4730.7699999999995,"body":"review though. Make sure you"},{"speaker":"Nick Lincoln","startTime":4728.67,"endTime":4730.7699999999995,"body":"subscribe to the podcast and"},{"speaker":"Nick Lincoln","startTime":4730.7699999999995,"endTime":4733.05,"body":"that way every other week every"},{"speaker":"Nick Lincoln","startTime":4730.7699999999995,"endTime":4733.05,"body":"Thursday morning it arrives on"},{"speaker":"Nick Lincoln","startTime":4733.05,"endTime":4736.47,"body":"your phone freshly cooked like"},{"speaker":"Nick Lincoln","startTime":4733.05,"endTime":4736.47,"body":"and subscribe on YouTube tick"},{"speaker":"Nick Lincoln","startTime":4736.47,"endTime":4739.32,"body":"that annoying bell so we can"},{"speaker":"Nick Lincoln","startTime":4736.47,"endTime":4739.32,"body":"just pop up continually on the"},{"speaker":"Nick Lincoln","startTime":4739.32,"endTime":4743.07,"body":"screen we're at 670 Something"},{"speaker":"Nick Lincoln","startTime":4739.32,"endTime":4743.07,"body":"now subscribers on YouTube only"},{"speaker":"Nick Lincoln","startTime":4743.07,"endTime":4747.84,"body":"330 away from the magic 1000"},{"speaker":"Nick Lincoln","startTime":4743.07,"endTime":4747.84,"body":"Until then trap pack is an EOS"},{"speaker":"Nick Lincoln","startTime":4747.87,"endTime":4751.5,"body":"from us and Trappists you take"},{"speaker":"Nick Lincoln","startTime":4747.87,"endTime":4751.5,"body":"care out there and we will be"},{"speaker":"Nick Lincoln","startTime":4751.5,"endTime":4754.23,"body":"with you in two weeks time"},{"speaker":"Nick Lincoln","startTime":4751.5,"endTime":4754.23,"body":"goodbye and get out of my"},{"speaker":"Nick Lincoln","startTime":4754.23,"endTime":4755.25,"body":"computer Go on YouTube."},{"speaker":"Carl Widger","startTime":4755.73,"endTime":4757.08,"body":"Bye everybody 10"},{"speaker":"Andy Hart","startTime":4757.08,"endTime":4759.21,"body":"tickets left for trap"},{"speaker":"Andy Hart","startTime":4757.08,"endTime":4759.21,"body":"live so grab one of the final"},{"speaker":"Andy Hart","startTime":4759.21,"endTime":4759.78,"body":"tickets"},{"speaker":"Unknown","startTime":4766.74,"endTime":4771.39,"body":"details including a"},{"speaker":"Unknown","startTime":4766.74,"endTime":4771.39,"body":"link to the purchase tickets for"},{"speaker":"Nick Lincoln","startTime":4774.63,"endTime":4777.33,"body":"the lovely TLP"},{"speaker":"Nick Lincoln","startTime":4774.63,"endTime":4777.33,"body":"decrepit says yeah, I'll chatter"},{"speaker":"Nick Lincoln","startTime":4777.33,"endTime":4780.42,"body":"first she was out of the house"},{"speaker":"Nick Lincoln","startTime":4777.33,"endTime":4780.42,"body":"this morning at 2:30am to be at"},{"speaker":"her school for 3","startTime":4780.42,"endTime":4783.96,"body":"30am to get a"},{"speaker":"her school for 3","startTime":4780.42,"endTime":4783.96,"body":"coach down to Dover. She's in"},{"speaker":"her school for 3","startTime":4783.96,"endTime":4786.84,"body":"Normandy with the regrets"},{"speaker":"her school for 3","startTime":4783.96,"endTime":4786.84,"body":"looking at the battlefield"},{"speaker":"her school for 3","startTime":4786.84,"endTime":4789.99,"body":"features of World War Two. So"},{"speaker":"her school for 3","startTime":4786.84,"endTime":4789.99,"body":"I've got the house to myself."},{"speaker":"her school for 3","startTime":4790.08,"endTime":4791.82,"body":"Goodbye. Everybody else has"},{"speaker":"her school for 3","startTime":4790.08,"endTime":4791.82,"body":"stopped recording now before I"},{"speaker":"her school for 3","startTime":4791.82,"endTime":4795.24,"body":"get myself in trouble. I love"},{"speaker":"her school for 3","startTime":4791.82,"endTime":4795.24,"body":"you. And that's the end"}]}