{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":7.92,"endTime":12.12,"body":"Music, welcome to the"},{"speaker":"Unknown","startTime":7.92,"endTime":12.12,"body":"real advisor podcast, T, R, A,"},{"speaker":"Unknown","startTime":12.12,"endTime":15.9,"body":"P, trap. Please follow us and"},{"speaker":"Unknown","startTime":12.12,"endTime":15.9,"body":"join in the conversation on"},{"speaker":"Unknown","startTime":15.9,"endTime":20.1,"body":"Twitter at advisor podcast,"},{"speaker":"Unknown","startTime":15.9,"endTime":20.1,"body":"where you can suggest ideas and"},{"speaker":"Unknown","startTime":20.1,"endTime":23.66,"body":"themes you'd like the trap team"},{"speaker":"Unknown","startTime":20.1,"endTime":23.66,"body":"to discuss. 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So let's"},{"speaker":"Nick Lincoln","startTime":75.42,"endTime":78.12,"body":"start unpacking it straight away"},{"speaker":"Nick Lincoln","startTime":75.42,"endTime":78.12,"body":"with some more high energy"},{"speaker":"Nick Lincoln","startTime":78.12,"endTime":80.96,"body":"review reads, read out by my"},{"speaker":"Nick Lincoln","startTime":78.12,"endTime":80.96,"body":"very good friend, the right"},{"speaker":"Nick Lincoln","startTime":80.96,"endTime":83.78,"body":"honorable Mr. Andrew sane Hart,"},{"speaker":"Nick Lincoln","startTime":80.96,"endTime":83.78,"body":"thank"},{"speaker":"Andy Hart","startTime":83.78,"endTime":85.94,"body":"you very much."},{"speaker":"Andy Hart","startTime":83.78,"endTime":85.94,"body":"Nicholas, the first review, and"},{"speaker":"Andy Hart","startTime":85.94,"endTime":90.2,"body":"only review today is from Tom"},{"speaker":"Andy Hart","startTime":85.94,"endTime":90.2,"body":"Robert Shaw in five stars,"},{"speaker":"Andy Hart","startTime":90.2,"endTime":94.28,"body":"entitled The C, i, i, c, I S, I"},{"speaker":"Andy Hart","startTime":90.2,"endTime":94.28,"body":"n, l, I B, F. 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I really"},{"speaker":"Andy Hart","startTime":144.38,"endTime":147.8,"body":"look forward to thanking you in"},{"speaker":"Andy Hart","startTime":147.8,"endTime":150.62,"body":"person at trap live in May, six"},{"speaker":"Andy Hart","startTime":147.8,"endTime":150.62,"body":"out of five stars. Thank you"},{"speaker":"Andy Hart","startTime":150.62,"endTime":154.52,"body":"horseman, Robert Tom, Robert"},{"speaker":"Andy Hart","startTime":150.62,"endTime":154.52,"body":"Shaw, back to you. Nicholas,"},{"speaker":"Nick Lincoln","startTime":155.06,"endTime":157.28,"body":"that is just an"},{"speaker":"Nick Lincoln","startTime":155.06,"endTime":157.28,"body":"absolutely brilliant review."},{"speaker":"Nick Lincoln","startTime":157.28,"endTime":160.54,"body":"Thank you Tom. That really wow."},{"speaker":"Nick Lincoln","startTime":157.28,"endTime":160.54,"body":"That is so powerful. And thank"},{"speaker":"Nick Lincoln","startTime":160.54,"endTime":162.76,"body":"you so much. And keep them"},{"speaker":"Nick Lincoln","startTime":160.54,"endTime":162.76,"body":"coming TRAPPIST, they keep on"},{"speaker":"Nick Lincoln","startTime":162.76,"endTime":165.04,"body":"saying it, but it's absolutely"},{"speaker":"Nick Lincoln","startTime":162.76,"endTime":165.04,"body":"true we've all got. He goes,"},{"speaker":"Nick Lincoln","startTime":165.04,"endTime":167.56,"body":"believe it or not, and they give"},{"speaker":"Nick Lincoln","startTime":165.04,"endTime":167.56,"body":"us a real shot in the arm. We're"},{"speaker":"Nick Lincoln","startTime":167.56,"endTime":170.26,"body":"not screaming into the void that"},{"speaker":"Nick Lincoln","startTime":167.56,"endTime":170.26,"body":"we do have Trappists who get"},{"speaker":"Nick Lincoln","startTime":170.26,"endTime":172.48,"body":"value from this much"},{"speaker":"Nick Lincoln","startTime":170.26,"endTime":172.48,"body":"appreciated. And of course, Tom,"},{"speaker":"Nick Lincoln","startTime":172.48,"endTime":175.12,"body":"we're looking forward to seeing"},{"speaker":"Nick Lincoln","startTime":172.48,"endTime":175.12,"body":"you at trap Live, which is"},{"speaker":"Nick Lincoln","startTime":175.12,"endTime":179.2,"body":"coming up shortly. So let's put"},{"speaker":"Nick Lincoln","startTime":175.12,"endTime":179.2,"body":"a timestamp on this episode and"},{"speaker":"Nick Lincoln","startTime":179.2,"endTime":184.08,"body":"move straight on to the topical"},{"speaker":"Nick Lincoln","startTime":179.2,"endTime":184.08,"body":"tidbits for episode, nerf."},{"speaker":"Unknown","startTime":186.54,"endTime":189.9,"body":"Hello my lovely"},{"speaker":"Unknown","startTime":186.54,"endTime":189.9,"body":"TRAPPIST, it's TLP here, looking"},{"speaker":"Unknown","startTime":189.9,"endTime":192.96,"body":"forward to catching up with all"},{"speaker":"Unknown","startTime":189.9,"endTime":192.96,"body":"you miscreants on Wednesday the"},{"speaker":"Unknown","startTime":192.96,"endTime":198.84,"body":"14th of May at trap and live 25"},{"speaker":"Unknown","startTime":192.96,"endTime":198.84,"body":"many people are already calling"},{"speaker":"Unknown","startTime":198.84,"endTime":202.94,"body":"this the biggest part of trap"},{"speaker":"Unknown","startTime":198.84,"endTime":202.94,"body":"yet, and you don't want to miss"},{"speaker":"Unknown","startTime":202.94,"endTime":207.26,"body":"out shits and giggles with Ultra"},{"speaker":"Unknown","startTime":202.94,"endTime":207.26,"body":"storyteller, the voice and my"},{"speaker":"Unknown","startTime":207.26,"endTime":210.8,"body":"imbecile of her husband. 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We had about"},{"speaker":"Nick Lincoln","startTime":256.68,"endTime":259.44,"body":"30 people apply. So if you"},{"speaker":"Nick Lincoln","startTime":259.44,"endTime":261.62,"body":"haven't got an email saying"},{"speaker":"Nick Lincoln","startTime":259.44,"endTime":261.62,"body":"you've got one, I'm sorry you"},{"speaker":"Nick Lincoln","startTime":261.62,"endTime":264.14,"body":"haven't got one. We had to. It"},{"speaker":"Nick Lincoln","startTime":261.62,"endTime":264.14,"body":"was difficult deciding on the,"},{"speaker":"Nick Lincoln","startTime":264.26,"endTime":266.9,"body":"yeah, really difficult, deciding"},{"speaker":"Nick Lincoln","startTime":264.26,"endTime":266.9,"body":"on the six and then the seven."},{"speaker":"Nick Lincoln","startTime":266.9,"endTime":269.24,"body":"So that's all done and dusted,"},{"speaker":"Nick Lincoln","startTime":266.9,"endTime":269.24,"body":"and we're looking forward to"},{"speaker":"Nick Lincoln","startTime":269.24,"endTime":271.94,"body":"those people coming along. It"},{"speaker":"Nick Lincoln","startTime":269.24,"endTime":271.94,"body":"may well have to stand if the"},{"speaker":"Nick Lincoln","startTime":271.94,"endTime":276.62,"body":"tickets go as they keep on"},{"speaker":"Nick Lincoln","startTime":271.94,"endTime":276.62,"body":"going. Okay, let's move on. And"},{"speaker":"Nick Lincoln","startTime":276.62,"endTime":279.62,"body":"who's the first one? Timeline"},{"speaker":"Nick Lincoln","startTime":276.62,"endTime":279.62,"body":"charts from the storyteller."},{"speaker":"Alan Smith","startTime":281.06,"endTime":283.42,"body":"Just a quick"},{"speaker":"Alan Smith","startTime":281.06,"endTime":283.42,"body":"pointing out of some really"},{"speaker":"Alan Smith","startTime":283.42,"endTime":286.84,"body":"valuable resource which is"},{"speaker":"Alan Smith","startTime":283.42,"endTime":286.84,"body":"available. They do it every"},{"speaker":"Alan Smith","startTime":286.84,"endTime":290.38,"body":"year. 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This is this"},{"speaker":"Nick Lincoln","startTime":379.92,"endTime":383.54,"body":"sounds be still by beating"},{"speaker":"Nick Lincoln","startTime":379.92,"endTime":383.54,"body":"heart. Yeah,"},{"speaker":"Carl Widger","startTime":384.02,"endTime":386.3,"body":"before I start, can"},{"speaker":"Carl Widger","startTime":384.02,"endTime":386.3,"body":"I just say I'm getting loads of"},{"speaker":"Carl Widger","startTime":386.3,"endTime":390.5,"body":"messages on LinkedIn, as I know"},{"speaker":"Carl Widger","startTime":386.3,"endTime":390.5,"body":"you guys are about people who"},{"speaker":"Carl Widger","startTime":390.5,"endTime":395.54,"body":"are going to come to trap live,"},{"speaker":"Carl Widger","startTime":390.5,"endTime":395.54,"body":"and it's actually really"},{"speaker":"Carl Widger","startTime":395.54,"endTime":398.96,"body":"inspiring stuff. 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But look, it's fantastic."},{"speaker":"Carl Widger","startTime":429.36,"endTime":433.56,"body":"I'm absolutely, just so,"},{"speaker":"Carl Widger","startTime":429.36,"endTime":433.56,"body":"genuinely, so excited to do the"},{"speaker":"Carl Widger","startTime":433.56,"endTime":436.92,"body":"event and to meet everybody. So"},{"speaker":"Carl Widger","startTime":433.56,"endTime":436.92,"body":"really look forward. And also to"},{"speaker":"Carl Widger","startTime":436.92,"endTime":442.1,"body":"Penny. That was an amazing piece"},{"speaker":"Carl Widger","startTime":436.92,"endTime":442.1,"body":"of audio. And I just I You're"},{"speaker":"Carl Widger","startTime":442.28,"endTime":445.46,"body":"sweet and Nick Lincoln are not"},{"speaker":"Carl Widger","startTime":442.28,"endTime":445.46,"body":"two words that kind of go"},{"speaker":"Carl Widger","startTime":445.46,"endTime":449.06,"body":"together. But it was so sweet"},{"speaker":"Carl Widger","startTime":445.46,"endTime":449.06,"body":"watching the big, proud head on"},{"speaker":"Carl Widger","startTime":449.06,"endTime":452.0,"body":"you as you played that. So"},{"speaker":"Carl Widger","startTime":449.06,"endTime":452.0,"body":"everybody definitely watched"},{"speaker":"Carl Widger","startTime":452.0,"endTime":454.46,"body":"this on YouTube. Thank you. I"},{"speaker":"Carl Widger","startTime":452.0,"endTime":454.46,"body":"wasn't aware. Thank you. Well,"},{"speaker":"Carl Widger","startTime":454.46,"endTime":457.88,"body":"it was lovely, and rightly so"},{"speaker":"Carl Widger","startTime":454.46,"endTime":457.88,"body":"too. Anyway, you soft shite, get"},{"speaker":"Carl Widger","startTime":459.14,"endTime":461.56,"body":"onto a winner. So this one is no"},{"speaker":"Carl Widger","startTime":459.14,"endTime":461.56,"body":"Irish"},{"speaker":"Unknown","startTime":461.56,"endTime":462.64,"body":"pension legislation."},{"speaker":"Carl Widger","startTime":468.76,"endTime":471.16,"body":"So this is a"},{"speaker":"Carl Widger","startTime":468.76,"endTime":471.16,"body":"remember, obviously, the peers"},{"speaker":"Carl Widger","startTime":471.16,"endTime":473.56,"body":"as you can put in as much you"},{"speaker":"Carl Widger","startTime":471.16,"endTime":473.56,"body":"want, and loads of wealthy"},{"speaker":"Carl Widger","startTime":473.56,"endTime":476.08,"body":"people were putting in 1"},{"speaker":"Carl Widger","startTime":473.56,"endTime":476.08,"body":"million. Do we remember pension,"},{"speaker":"Carl Widger","startTime":476.56,"endTime":479.5,"body":"right? It was, it was fantastic,"},{"speaker":"Carl Widger","startTime":476.56,"endTime":479.5,"body":"right? And it's it the market"},{"speaker":"Carl Widger","startTime":479.5,"endTime":482.94,"body":"we're dealing with. So did we"},{"speaker":"Carl Widger","startTime":479.5,"endTime":482.94,"body":"make our clients aware of it?"},{"speaker":"Carl Widger","startTime":482.94,"endTime":485.76,"body":"And did some of our clients"},{"speaker":"Carl Widger","startTime":482.94,"endTime":485.76,"body":"avail of it? Yes, they did,"},{"speaker":"Carl Widger","startTime":486.06,"endTime":489.12,"body":"because they were the rules,"},{"speaker":"Carl Widger","startTime":486.06,"endTime":489.12,"body":"yeah. And then there's an"},{"speaker":"Carl Widger","startTime":489.12,"endTime":494.7,"body":"article in the paper quoting a"},{"speaker":"Carl Widger","startTime":489.12,"endTime":494.7,"body":"inverter come as confidential"},{"speaker":"Carl Widger","startTime":494.76,"endTime":499.98,"body":"revenue paper saying, you know"},{"speaker":"Carl Widger","startTime":494.76,"endTime":499.98,"body":"that people you know availed of"},{"speaker":"Carl Widger","startTime":499.98,"endTime":503.3,"body":"this loophole, and basically it"},{"speaker":"Carl Widger","startTime":499.98,"endTime":503.3,"body":"was a joke. And I'm like, Yeah,"},{"speaker":"Carl Widger","startTime":503.3,"endTime":507.62,"body":"but you told us that these were"},{"speaker":"Carl Widger","startTime":503.3,"endTime":507.62,"body":"the rules. We played exactly to"},{"speaker":"Carl Widger","startTime":507.62,"endTime":510.5,"body":"the rules. We did not break the"},{"speaker":"Carl Widger","startTime":507.62,"endTime":510.5,"body":"rules at all. We played exactly"},{"speaker":"Carl Widger","startTime":510.5,"endTime":513.8,"body":"to the rules. So now you can't"},{"speaker":"Carl Widger","startTime":510.5,"endTime":513.8,"body":"come back because didn't work"},{"speaker":"Carl Widger","startTime":513.8,"endTime":517.52,"body":"exactly like you. You said it."},{"speaker":"Carl Widger","startTime":513.8,"endTime":517.52,"body":"Because what is happening is"},{"speaker":"Carl Widger","startTime":517.52,"endTime":520.1,"body":"some of our clients who did"},{"speaker":"Carl Widger","startTime":517.52,"endTime":520.1,"body":"avail of it are going here. Hold"},{"speaker":"Carl Widger","startTime":520.1,"endTime":522.76,"body":"on a second. I saw in the paper"},{"speaker":"Carl Widger","startTime":520.1,"endTime":522.76,"body":"again, it's in the paper again,"},{"speaker":"Carl Widger","startTime":522.76,"endTime":525.88,"body":"isn't it? And we're like, no,"},{"speaker":"Carl Widger","startTime":522.76,"endTime":525.88,"body":"no, we have played exactly to"},{"speaker":"Carl Widger","startTime":525.88,"endTime":529.24,"body":"the rules we have advised you"},{"speaker":"Carl Widger","startTime":525.88,"endTime":529.24,"body":"based on revenue law at the"},{"speaker":"Carl Widger","startTime":529.24,"endTime":535.36,"body":"time. Now, maybe if they had"},{"speaker":"Carl Widger","startTime":529.24,"endTime":535.36,"body":"listened to the practitioners in"},{"speaker":"Carl Widger","startTime":535.36,"endTime":538.54,"body":"our profession, we would have"},{"speaker":"Carl Widger","startTime":535.36,"endTime":538.54,"body":"been able to identify some of"},{"speaker":"Carl Widger","startTime":538.54,"endTime":541.5,"body":"these issues for them and say,"},{"speaker":"Carl Widger","startTime":538.54,"endTime":541.5,"body":"that's probably not exactly what"},{"speaker":"Carl Widger","startTime":541.5,"endTime":543.78,"body":"you're looking to do here,"},{"speaker":"Carl Widger","startTime":541.5,"endTime":543.78,"body":"because here's what will happen"},{"speaker":"Carl Widger","startTime":543.78,"endTime":546.48,"body":"if you bring that in. But they"},{"speaker":"Carl Widger","startTime":543.78,"endTime":546.48,"body":"didn't talk because they just"},{"speaker":"Carl Widger","startTime":546.48,"endTime":548.88,"body":"decided themselves to make up"},{"speaker":"Carl Widger","startTime":546.48,"endTime":548.88,"body":"these rules anyway. I just"},{"speaker":"Carl Widger","startTime":548.88,"endTime":552.54,"body":"wanted to say it because there's"},{"speaker":"Carl Widger","startTime":548.88,"endTime":552.54,"body":"surely loads of other really"},{"speaker":"Carl Widger","startTime":552.54,"endTime":555.12,"body":"great advisors out there who"},{"speaker":"Carl Widger","startTime":552.54,"endTime":555.12,"body":"brought this to the attention of"},{"speaker":"Carl Widger","startTime":555.12,"endTime":557.88,"body":"their clients and their clients"},{"speaker":"Carl Widger","startTime":555.12,"endTime":557.88,"body":"available. But you know, we need"},{"speaker":"Carl Widger","startTime":557.88,"endTime":561.44,"body":"to just be absolutely clear. We"},{"speaker":"Carl Widger","startTime":557.88,"endTime":561.44,"body":"did not break any rules. Our"},{"speaker":"Carl Widger","startTime":561.44,"endTime":564.5,"body":"clients did nothing wrong."},{"speaker":"Carl Widger","startTime":561.44,"endTime":564.5,"body":"They've changed the rules."},{"speaker":"Carl Widger","startTime":564.5,"endTime":567.74,"body":"Subsequently, that's fine. We"},{"speaker":"Carl Widger","startTime":564.5,"endTime":567.74,"body":"will now play to the new rules."},{"speaker":"Carl Widger","startTime":567.98,"endTime":571.28,"body":"It is not a loophole. It was a"},{"speaker":"Carl Widger","startTime":567.98,"endTime":571.28,"body":"rule at the time. It's all I"},{"speaker":"Carl Widger","startTime":571.28,"endTime":571.7,"body":"want in"},{"speaker":"Nick Lincoln","startTime":572.06,"endTime":574.34,"body":"this country. We"},{"speaker":"Nick Lincoln","startTime":572.06,"endTime":574.34,"body":"had the annual allowance once"},{"speaker":"Nick Lincoln","startTime":574.34,"endTime":578.06,"body":"was 255,000 pounds a year,"},{"speaker":"Nick Lincoln","startTime":574.34,"endTime":578.06,"body":"wasn't it? And it was always too"},{"speaker":"Nick Lincoln","startTime":578.06,"endTime":581.42,"body":"good to be true, and it was too"},{"speaker":"Nick Lincoln","startTime":578.06,"endTime":581.42,"body":"good to be true. And they soon"},{"speaker":"Nick Lincoln","startTime":581.42,"endTime":583.72,"body":"changed that not quite the same"},{"speaker":"Nick Lincoln","startTime":581.42,"endTime":583.72,"body":"frame. It's a loop. No, you've"},{"speaker":"Nick Lincoln","startTime":583.72,"endTime":586.36,"body":"been told it's a loophole that's"},{"speaker":"Nick Lincoln","startTime":583.72,"endTime":586.36,"body":"been exploited. But it was, you"},{"speaker":"Nick Lincoln","startTime":586.36,"endTime":588.82,"body":"know, they obviously decided"},{"speaker":"Nick Lincoln","startTime":586.36,"endTime":588.82,"body":"that's way too generous, because"},{"speaker":"Nick Lincoln","startTime":588.82,"endTime":591.16,"body":"guess what? People are taking"},{"speaker":"Nick Lincoln","startTime":588.82,"endTime":591.16,"body":"advantage of it. And it went"},{"speaker":"Nick Lincoln","startTime":591.16,"endTime":593.5,"body":"down to 40k. Didn't it for a"},{"speaker":"Nick Lincoln","startTime":591.16,"endTime":593.5,"body":"number of years, and it's now"},{"speaker":"Nick Lincoln","startTime":593.5,"endTime":595.0,"body":"creep was crap, like up to 60,"},{"speaker":"Carl Widger","startTime":595.12,"endTime":597.94,"body":"still looking like"},{"speaker":"Carl Widger","startTime":595.12,"endTime":597.94,"body":"but I would say, are you guys"},{"speaker":"Carl Widger","startTime":597.94,"endTime":601.2,"body":"are talking a lot about, you"},{"speaker":"Carl Widger","startTime":597.94,"endTime":601.2,"body":"know. The really wealthy folks"},{"speaker":"Carl Widger","startTime":601.2,"endTime":604.68,"body":"leaving the UK now, right? So,"},{"speaker":"Carl Widger","startTime":601.2,"endTime":604.68,"body":"so like, you know, take a step"},{"speaker":"Carl Widger","startTime":604.68,"endTime":609.06,"body":"back and go look, we need to"},{"speaker":"Carl Widger","startTime":604.68,"endTime":609.06,"body":"encourage people who are, you"},{"speaker":"Carl Widger","startTime":609.06,"endTime":611.4,"body":"know, in a lot of cases,"},{"speaker":"Carl Widger","startTime":609.06,"endTime":611.4,"body":"generating a lot of jobs,"},{"speaker":"Carl Widger","startTime":611.4,"endTime":615.54,"body":"generating a lot of tax etc,"},{"speaker":"Carl Widger","startTime":611.4,"endTime":615.54,"body":"etc. We got to create some, some"},{"speaker":"Carl Widger","startTime":615.54,"endTime":618.84,"body":"ways for them to extract wealth"},{"speaker":"Carl Widger","startTime":615.54,"endTime":618.84,"body":"in a tax efficient manner. Not"},{"speaker":"Carl Widger","startTime":618.84,"endTime":621.26,"body":"all of these are bad, because if"},{"speaker":"Carl Widger","startTime":618.84,"endTime":621.26,"body":"you, if you make sure, if you"},{"speaker":"Carl Widger","startTime":621.26,"endTime":624.38,"body":"make sure, if you just tax and"},{"speaker":"Carl Widger","startTime":621.26,"endTime":624.38,"body":"tax and tax to the hilt, well"},{"speaker":"Carl Widger","startTime":624.44,"endTime":626.96,"body":"that's what's going to happen,"},{"speaker":"Carl Widger","startTime":624.44,"endTime":626.96,"body":"exactly what's happening"},{"speaker":"Nick Lincoln","startTime":626.96,"endTime":629.12,"body":"in the UK. Welcome"},{"speaker":"Nick Lincoln","startTime":626.96,"endTime":629.12,"body":"to our welcome to our world."},{"speaker":"Nick Lincoln","startTime":629.12,"endTime":633.5,"body":"Absolutely Okay. Thank you for"},{"speaker":"Nick Lincoln","startTime":629.12,"endTime":633.5,"body":"that prsa corner for this"},{"speaker":"Nick Lincoln","startTime":633.5,"endTime":633.86,"body":"episode,"},{"speaker":"Carl Widger","startTime":635.18,"endTime":638.42,"body":"and we'll be"},{"speaker":"Carl Widger","startTime":635.18,"endTime":638.42,"body":"sponsored by that company, that"},{"speaker":"Carl Widger","startTime":638.42,"endTime":640.82,"body":"company I won't mention again,"},{"speaker":"Carl Widger","startTime":638.42,"endTime":640.82,"body":"because it wouldn't be fair,"},{"speaker":"Carl Widger","startTime":640.82,"endTime":644.8,"body":"because they didn't pay us, but"},{"speaker":"Carl Widger","startTime":640.82,"endTime":644.8,"body":"they got onto me. The MD was"},{"speaker":"Carl Widger","startTime":644.8,"endTime":647.44,"body":"like, Hey, Karen, that was"},{"speaker":"Carl Widger","startTime":644.8,"endTime":647.44,"body":"magic. Thanks very much. I said,"},{"speaker":"Carl Widger","startTime":647.44,"endTime":650.74,"body":"Hey, cost you again. It'll cost"},{"speaker":"Carl Widger","startTime":647.44,"endTime":650.74,"body":"you if you want another mention."},{"speaker":"Carl Widger","startTime":650.8,"endTime":653.38,"body":"So I'm not going to mention"},{"speaker":"Carl Widger","startTime":650.8,"endTime":653.38,"body":"Royal London again."},{"speaker":"Nick Lincoln","startTime":654.82,"endTime":658.3,"body":"Oh, okay, clearly,"},{"speaker":"Nick Lincoln","startTime":654.82,"endTime":658.3,"body":"let's get away from this ultra"},{"speaker":"Andy Hart","startTime":689.66,"endTime":692.5,"body":"Okay. A couple of"},{"speaker":"Andy Hart","startTime":689.66,"endTime":692.5,"body":"points to this story. There is a"},{"speaker":"Andy Hart","startTime":692.5,"endTime":697.5999999999999,"body":"change happening with the IHT"},{"speaker":"Andy Hart","startTime":692.5,"endTime":697.5999999999999,"body":"exemption for AIM shares. Aim"},{"speaker":"Andy Hart","startTime":697.5999999999999,"endTime":702.28,"body":"shares are listed on a sort of"},{"speaker":"Andy Hart","startTime":697.5999999999999,"endTime":702.28,"body":"smaller stock market, and it's"},{"speaker":"Andy Hart","startTime":702.4,"endTime":704.8,"body":"younger companies, growth"},{"speaker":"Andy Hart","startTime":702.4,"endTime":704.8,"body":"companies, and you know, there's"},{"speaker":"Andy Hart","startTime":704.92,"endTime":708.9399999999999,"body":"a whole sort of reason to invest"},{"speaker":"Andy Hart","startTime":704.92,"endTime":708.9399999999999,"body":"in them. So currently qualifying"},{"speaker":"Andy Hart","startTime":708.9399999999999,"endTime":713.64,"body":"aim shares 100% offset for IHT,"},{"speaker":"Andy Hart","startTime":708.9399999999999,"endTime":713.64,"body":"when you pass, but from April"},{"speaker":"Andy Hart","startTime":713.64,"endTime":717.12,"body":"2026, it's going to be reduced"},{"speaker":"Andy Hart","startTime":713.64,"endTime":717.12,"body":"to 50% there's gonna be a big"},{"speaker":"Andy Hart","startTime":717.12,"endTime":721.8,"body":"impact in this space and market."},{"speaker":"Andy Hart","startTime":717.12,"endTime":721.8,"body":"Myself, Nick and Alan are not"},{"speaker":"Andy Hart","startTime":721.8,"endTime":725.4599999999999,"body":"too pro this strategy for"},{"speaker":"Andy Hart","startTime":721.8,"endTime":725.4599999999999,"body":"reducing IHT, for various"},{"speaker":"Andy Hart","startTime":725.4599999999999,"endTime":728.4599999999999,"body":"reasons, from a high point to a"},{"speaker":"Andy Hart","startTime":725.4599999999999,"endTime":728.4599999999999,"body":"low point, the aim index has"},{"speaker":"Andy Hart","startTime":728.4599999999999,"endTime":731.36,"body":"been is down 18% this year,"},{"speaker":"Andy Hart","startTime":728.4599999999999,"endTime":731.36,"body":"which is slightly more than the"},{"speaker":"Andy Hart","startTime":731.36,"endTime":735.14,"body":"sort of main market. But HMRC"},{"speaker":"Andy Hart","startTime":731.36,"endTime":735.14,"body":"believes that they're going to"},{"speaker":"Andy Hart","startTime":735.14,"endTime":737.9599999999999,"body":"raise about 110 million pounds,"},{"speaker":"Andy Hart","startTime":735.14,"endTime":737.9599999999999,"body":"which, in the grand scheme of"},{"speaker":"Andy Hart","startTime":737.9599999999999,"endTime":742.0999999999999,"body":"thing, is not too much per year,"},{"speaker":"Andy Hart","startTime":737.9599999999999,"endTime":742.0999999999999,"body":"once they introduce, I"},{"speaker":"Unknown","startTime":742.0999999999999,"endTime":743.0,"body":"mean, change,"},{"speaker":"Nick Lincoln","startTime":743.66,"endTime":744.14,"body":"God,"},{"speaker":"Alan Smith","startTime":745.4599999999999,"endTime":747.74,"body":"we're talking about"},{"speaker":"Alan Smith","startTime":745.4599999999999,"endTime":747.74,"body":"like you just mentioned, called"},{"speaker":"Alan Smith","startTime":747.74,"endTime":751.0,"body":"government legislation. And you"},{"speaker":"Alan Smith","startTime":747.74,"endTime":751.0,"body":"know, guess what? They don't"},{"speaker":"Alan Smith","startTime":751.0,"endTime":752.86,"body":"really know what the hell"},{"speaker":"Alan Smith","startTime":751.0,"endTime":752.86,"body":"they're doing. They come in with"},{"speaker":"Alan Smith","startTime":752.86,"endTime":755.86,"body":"these crazy pension rules, then"},{"speaker":"Alan Smith","startTime":752.86,"endTime":755.86,"body":"they backtrack on them, and this"},{"speaker":"Alan Smith","startTime":755.92,"endTime":759.3399999999999,"body":"110 million. I mean, I, I can't"},{"speaker":"Alan Smith","startTime":755.92,"endTime":759.3399999999999,"body":"remember. I mean, that sport"},{"speaker":"Alan Smith","startTime":759.3399999999999,"endTime":763.66,"body":"about that's about an afternoon"},{"speaker":"Alan Smith","startTime":759.3399999999999,"endTime":763.66,"body":"of your sponsoring the NHS or"},{"speaker":"Alan Smith","startTime":763.66,"endTime":767.02,"body":"something like that. Yeah,"},{"speaker":"Alan Smith","startTime":763.66,"endTime":767.02,"body":"probably not even that. It's"},{"speaker":"Alan Smith","startTime":767.1999999999999,"endTime":770.88,"body":"probably not even that. It's"},{"speaker":"Alan Smith","startTime":767.1999999999999,"endTime":770.88,"body":"such a rounding error, but it's"},{"speaker":"Alan Smith","startTime":770.88,"endTime":774.7199999999999,"body":"the message now, yeah, symbolism"},{"speaker":"Alan Smith","startTime":770.88,"endTime":774.7199999999999,"body":"to me, to me, that just"},{"speaker":"Alan Smith","startTime":774.7199999999999,"endTime":778.56,"body":"completely what decimates when"},{"speaker":"Alan Smith","startTime":774.7199999999999,"endTime":778.56,"body":"you say, reduced to 50 reduced"},{"speaker":"Alan Smith","startTime":778.56,"endTime":783.0,"body":"by 50% so it's a 20% inheritance"},{"speaker":"Alan Smith","startTime":778.56,"endTime":783.0,"body":"tax charge as opposed to a 40 it"},{"speaker":"Alan Smith","startTime":783.0,"endTime":786.8399999999999,"body":"was 100% exempt. Now you're"},{"speaker":"Alan Smith","startTime":783.0,"endTime":786.8399999999999,"body":"right, so it sort of works out,"},{"speaker":"Alan Smith","startTime":786.8399999999999,"endTime":789.24,"body":"so you remove the 40% now, now"},{"speaker":"Nick Lincoln","startTime":789.3,"endTime":791.48,"body":"it's you can"},{"speaker":"Nick Lincoln","startTime":789.3,"endTime":791.48,"body":"interrupt the guy. So in the"},{"speaker":"Nick Lincoln","startTime":791.48,"endTime":793.76,"body":"past, you'd have these aim isas,"},{"speaker":"Nick Lincoln","startTime":791.48,"endTime":793.76,"body":"wouldn't you? We invested, as"},{"speaker":"Nick Lincoln","startTime":793.76,"endTime":795.98,"body":"long as you hold them for two"},{"speaker":"Nick Lincoln","startTime":793.76,"endTime":795.98,"body":"years, the money outside of your"},{"speaker":"Nick Lincoln","startTime":795.98,"endTime":798.14,"body":"estate. And now you're saying"},{"speaker":"Nick Lincoln","startTime":795.98,"endTime":798.14,"body":"you're only going to get"},{"speaker":"Alan Smith","startTime":798.4399999999999,"endTime":801.1999999999999,"body":"half the credit for"},{"speaker":"Alan Smith","startTime":798.4399999999999,"endTime":801.1999999999999,"body":"that. Yes, and aim portfolios in"},{"speaker":"Alan Smith","startTime":801.1999999999999,"endTime":804.14,"body":"general. So people, which have"},{"speaker":"Alan Smith","startTime":801.1999999999999,"endTime":804.14,"body":"been dog for years, well,"},{"speaker":"Alan Smith","startTime":804.14,"endTime":807.68,"body":"they've been terrible, but"},{"speaker":"Alan Smith","startTime":804.14,"endTime":807.68,"body":"people have invested in them to"},{"speaker":"Alan Smith","startTime":807.68,"endTime":812.1999999999999,"body":"remove, you could put as much as"},{"speaker":"Alan Smith","startTime":807.68,"endTime":812.1999999999999,"body":"you want into an aim portfolio."},{"speaker":"Alan Smith","startTime":812.4399999999999,"endTime":815.02,"body":"And then after two years, it"},{"speaker":"Alan Smith","startTime":812.4399999999999,"endTime":815.02,"body":"was, historically, it was"},{"speaker":"Alan Smith","startTime":815.02,"endTime":818.86,"body":"removed from your IHT estate."},{"speaker":"Alan Smith","startTime":815.02,"endTime":818.86,"body":"And now, so now only 50% of it"},{"speaker":"Alan Smith","startTime":818.86,"endTime":822.0999999999999,"body":"is removed from your HT estate."},{"speaker":"Alan Smith","startTime":818.86,"endTime":822.0999999999999,"body":"Yeah, the trade off that you are"},{"speaker":"Alan Smith","startTime":822.0999999999999,"endTime":825.64,"body":"making as an investor, for"},{"speaker":"Alan Smith","startTime":822.0999999999999,"endTime":825.64,"body":"investing in these super"},{"speaker":"Alan Smith","startTime":825.64,"endTime":829.3,"body":"volatile and clearly very poorly"},{"speaker":"Alan Smith","startTime":825.64,"endTime":829.3,"body":"performing, if you look at his"},{"speaker":"Alan Smith","startTime":829.3,"endTime":834.06,"body":"low returns, you can maybe make"},{"speaker":"Alan Smith","startTime":829.3,"endTime":834.06,"body":"an argument for it if you if you"},{"speaker":"Alan Smith","startTime":834.06,"endTime":837.36,"body":"completely exempted yourself"},{"speaker":"Alan Smith","startTime":834.06,"endTime":837.36,"body":"from inheritance tax. But now I"},{"speaker":"Alan Smith","startTime":837.36,"endTime":839.4,"body":"think why would anyone do it? Is"},{"speaker":"Alan Smith","startTime":837.36,"endTime":839.4,"body":"just so"},{"speaker":"Nick Lincoln","startTime":839.6999999999999,"endTime":841.62,"body":"sorry. And if you"},{"speaker":"Nick Lincoln","startTime":839.6999999999999,"endTime":841.62,"body":"mentioned this in your when you"},{"speaker":"Nick Lincoln","startTime":841.62,"endTime":844.14,"body":"were that retrospective, was"},{"speaker":"Nick Lincoln","startTime":841.62,"endTime":844.14,"body":"that from all new investments"},{"speaker":"Nick Lincoln","startTime":844.14,"endTime":846.54,"body":"into these it's just going to be"},{"speaker":"Nick Lincoln","startTime":844.14,"endTime":846.54,"body":"half the credit you've got"},{"speaker":"Nick Lincoln","startTime":846.54,"endTime":847.26,"body":"before. So"},{"speaker":"Andy Hart","startTime":847.26,"endTime":850.0799999999999,"body":"currently, if you die"},{"speaker":"Andy Hart","startTime":847.26,"endTime":850.0799999999999,"body":"now before April 2026 all of it"},{"speaker":"Andy Hart","startTime":850.0799999999999,"endTime":852.5,"body":"will be exempt, as per the"},{"speaker":"Andy Hart","startTime":850.0799999999999,"endTime":852.5,"body":"current rules. The new rules are"},{"speaker":"Andy Hart","startTime":852.5,"endTime":855.86,"body":"coming in april 2026 they're"},{"speaker":"Andy Hart","startTime":852.5,"endTime":855.86,"body":"saying that they're going to"},{"speaker":"Andy Hart","startTime":855.86,"endTime":858.92,"body":"raise 110 million. That's in"},{"speaker":"Andy Hart","startTime":855.86,"endTime":858.92,"body":"year one. Then the market is"},{"speaker":"Andy Hart","startTime":858.92,"endTime":861.68,"body":"going to be, as you rightly"},{"speaker":"Andy Hart","startTime":858.92,"endTime":861.68,"body":"said, Alan slowly decimated, so"},{"speaker":"Andy Hart","startTime":861.8,"endTime":864.74,"body":"that the take from it's going to"},{"speaker":"Andy Hart","startTime":861.8,"endTime":864.74,"body":"get become less and less and"},{"speaker":"Andy Hart","startTime":864.74,"endTime":868.0999999999999,"body":"less. Anyway, this article was"},{"speaker":"Andy Hart","startTime":864.74,"endTime":868.0999999999999,"body":"in professional advisor.com"},{"speaker":"Andy Hart","startTime":868.8199999999999,"endTime":871.66,"body":"which, out of all the news"},{"speaker":"Andy Hart","startTime":868.8199999999999,"endTime":871.66,"body":"sources, I think is one of the"},{"speaker":"Andy Hart","startTime":871.66,"endTime":876.16,"body":"best. So my following on point"},{"speaker":"Andy Hart","startTime":871.66,"endTime":876.16,"body":"to this, to this initial point,"},{"speaker":"Andy Hart","startTime":876.16,"endTime":881.0799999999999,"body":"is join new professional"},{"speaker":"Andy Hart","startTime":876.16,"endTime":881.0799999999999,"body":"advisor. There's a link in the"},{"speaker":"Andy Hart","startTime":881.0799999999999,"endTime":884.98,"body":"show notes professional advisor,"},{"speaker":"Andy Hart","startTime":881.0799999999999,"endTime":884.98,"body":"join and they've got decent news"},{"speaker":"Andy Hart","startTime":884.98,"endTime":887.38,"body":"coverage or send you like a"},{"speaker":"Andy Hart","startTime":884.98,"endTime":887.38,"body":"daily email, like a roundup or"},{"speaker":"Andy Hart","startTime":887.38,"endTime":890.28,"body":"something. So that's another"},{"speaker":"Andy Hart","startTime":887.38,"endTime":890.28,"body":"okay point to mention. So that's"},{"speaker":"Andy Hart","startTime":890.28,"endTime":895.14,"body":"in the show notes as well. Over"},{"speaker":"Andy Hart","startTime":890.28,"endTime":895.14,"body":"to you. Carl, me,"},{"speaker":"Unknown","startTime":901.0799999999999,"endTime":902.88,"body":"yeah, that was amazing."},{"speaker":"Unknown","startTime":901.0799999999999,"endTime":902.88,"body":"That that segment."},{"speaker":"Unknown","startTime":904.0799999999999,"endTime":906.18,"body":"Why am I being brought in low"},{"speaker":"Unknown","startTime":906.18,"endTime":910.16,"body":"and slow? Oh, yeah. Okay, so"},{"speaker":"Unknown","startTime":906.18,"endTime":910.16,"body":"it's yeah."},{"speaker":"Carl Widger","startTime":912.98,"endTime":916.4599999999999,"body":"Sorry, this is"},{"speaker":"Carl Widger","startTime":912.98,"endTime":916.4599999999999,"body":"about Irish investor Irish"},{"speaker":"Carl Widger","startTime":916.4599999999999,"endTime":919.76,"body":"depositors, right? Are keeping"},{"speaker":"Carl Widger","startTime":916.4599999999999,"endTime":919.76,"body":"their money in kind of overnight"},{"speaker":"Carl Widger","startTime":919.76,"endTime":922.88,"body":"deposit accounts. Are very short"},{"speaker":"Carl Widger","startTime":919.76,"endTime":922.88,"body":"term deposit accounts, and so"},{"speaker":"Carl Widger","startTime":922.88,"endTime":927.38,"body":"this report reckons that they've"},{"speaker":"Carl Widger","startTime":922.88,"endTime":927.38,"body":"given up by just choosing the"},{"speaker":"Carl Widger","startTime":927.38,"endTime":931.78,"body":"wrong deposit type of account"},{"speaker":"Carl Widger","startTime":927.38,"endTime":931.78,"body":"in. In 2024 alone, they gave up"},{"speaker":"Carl Widger","startTime":931.8399999999999,"endTime":937.18,"body":"800 million of unearned interest"},{"speaker":"Carl Widger","startTime":931.8399999999999,"endTime":937.18,"body":"by just keeping it in kind of"},{"speaker":"Carl Widger","startTime":937.18,"endTime":940.5999999999999,"body":"overnight deposit. Which, okay,"},{"speaker":"Carl Widger","startTime":937.18,"endTime":940.5999999999999,"body":"that might be sound like a"},{"speaker":"Carl Widger","startTime":940.5999999999999,"endTime":942.88,"body":"reasonably small number, but"},{"speaker":"Carl Widger","startTime":940.5999999999999,"endTime":942.88,"body":"it's a big number, because"},{"speaker":"Carl Widger","startTime":942.88,"endTime":945.6999999999999,"body":"Ireland is a really small"},{"speaker":"Carl Widger","startTime":942.88,"endTime":945.6999999999999,"body":"country, and this goes back to"},{"speaker":"Carl Widger","startTime":945.6999999999999,"endTime":948.52,"body":"what I said in the last episode,"},{"speaker":"Carl Widger","startTime":945.6999999999999,"endTime":948.52,"body":"in the episode previously, like,"},{"speaker":"Carl Widger","startTime":948.52,"endTime":951.7199999999999,"body":"imagine the wealth we could have"},{"speaker":"Carl Widger","startTime":948.52,"endTime":951.7199999999999,"body":"we should have created in this"},{"speaker":"Carl Widger","startTime":951.7199999999999,"endTime":956.52,"body":"country. But anyway, this is not"},{"speaker":"Carl Widger","startTime":951.7199999999999,"endTime":956.52,"body":"a report done by matters Ireland"},{"speaker":"Carl Widger","startTime":956.52,"endTime":961.1999999999999,"body":"or a stockbroking firm or a"},{"speaker":"Carl Widger","startTime":956.52,"endTime":961.1999999999999,"body":"wealth manager. This is a report"},{"speaker":"Carl Widger","startTime":961.38,"endTime":964.92,"body":"from the Central Bank of"},{"speaker":"Carl Widger","startTime":961.38,"endTime":964.92,"body":"Ireland. Our own central bank"},{"speaker":"Carl Widger","startTime":964.92,"endTime":968.28,"body":"have come out with this report."},{"speaker":"Carl Widger","startTime":964.92,"endTime":968.28,"body":"So basically, just stating"},{"speaker":"Carl Widger","startTime":968.28,"endTime":971.3,"body":"facts. Here's what you could"},{"speaker":"Carl Widger","startTime":968.28,"endTime":971.3,"body":"have got, here's what you did"},{"speaker":"Carl Widger","startTime":971.3,"endTime":975.02,"body":"get. So come on, Ireland and"},{"speaker":"Carl Widger","startTime":971.3,"endTime":975.02,"body":"come in Irish"},{"speaker":"Nick Lincoln","startTime":975.4399999999999,"endTime":979.04,"body":"rfca, which is an,"},{"speaker":"Nick Lincoln","startTime":975.4399999999999,"endTime":979.04,"body":"you know, another bureaucratic,"},{"speaker":"Nick Lincoln","startTime":979.04,"endTime":981.56,"body":"obviously, quango like your"},{"speaker":"Nick Lincoln","startTime":979.04,"endTime":981.56,"body":"central bank would be, but they"},{"speaker":"Nick Lincoln","startTime":981.56,"endTime":984.26,"body":"have recently started coming out"},{"speaker":"Nick Lincoln","startTime":981.56,"endTime":984.26,"body":"talking using phrases about the"},{"speaker":"Nick Lincoln","startTime":984.26,"endTime":987.4399999999999,"body":"risk of being in cash when"},{"speaker":"Nick Lincoln","startTime":984.26,"endTime":987.4399999999999,"body":"inflation is relatively high."},{"speaker":"Nick Lincoln","startTime":987.4399999999999,"endTime":989.48,"body":"The one thing I say about that"},{"speaker":"Nick Lincoln","startTime":987.4399999999999,"endTime":989.48,"body":"Carl is, so you're what the"},{"speaker":"Nick Lincoln","startTime":989.48,"endTime":991.88,"body":"central bank is saying is people"},{"speaker":"Nick Lincoln","startTime":989.48,"endTime":991.88,"body":"are missing out on these higher"},{"speaker":"Nick Lincoln","startTime":991.88,"endTime":994.12,"body":"rates by languishing in low"},{"speaker":"Nick Lincoln","startTime":991.88,"endTime":994.12,"body":"languishing in lower rates. But"},{"speaker":"Nick Lincoln","startTime":994.12,"endTime":996.4599999999999,"body":"of course, what would happen in"},{"speaker":"Nick Lincoln","startTime":994.12,"endTime":996.4599999999999,"body":"the real world? And these people"},{"speaker":"Nick Lincoln","startTime":996.4599999999999,"endTime":998.62,"body":"don't often exist in the real"},{"speaker":"Nick Lincoln","startTime":996.4599999999999,"endTime":998.62,"body":"world, do they? Because they're"},{"speaker":"Nick Lincoln","startTime":998.62,"endTime":1001.1999999999999,"body":"academics and they're unemployed"},{"speaker":"Nick Lincoln","startTime":998.62,"endTime":1001.1999999999999,"body":"in suits, if people piled their"},{"speaker":"Nick Lincoln","startTime":1001.1999999999999,"endTime":1003.48,"body":"money into these higher paying"},{"speaker":"Nick Lincoln","startTime":1001.1999999999999,"endTime":1003.48,"body":"accounts, those banks would then"},{"speaker":"Nick Lincoln","startTime":1003.48,"endTime":1006.06,"body":"immediately drop the rates,"},{"speaker":"Nick Lincoln","startTime":1003.48,"endTime":1006.06,"body":"because the markets would adjust"},{"speaker":"Nick Lincoln","startTime":1006.06,"endTime":1009.18,"body":"accordingly. So there's not like"},{"speaker":"Nick Lincoln","startTime":1006.06,"endTime":1009.18,"body":"a static game where, oh, you've"},{"speaker":"Nick Lincoln","startTime":1009.18,"endTime":1012.02,"body":"missed out on 6.2 and you're"},{"speaker":"Nick Lincoln","startTime":1009.18,"endTime":1012.02,"body":"only getting three. If everyone"},{"speaker":"Nick Lincoln","startTime":1012.02,"endTime":1014.8399999999999,"body":"had piled into 6.2 that would"},{"speaker":"Nick Lincoln","startTime":1012.02,"endTime":1014.8399999999999,"body":"soon be three or less, because"},{"speaker":"Nick Lincoln","startTime":1014.8399999999999,"endTime":1017.24,"body":"the bank would have the"},{"speaker":"Nick Lincoln","startTime":1014.8399999999999,"endTime":1017.24,"body":"liquidity it needed to offer the"},{"speaker":"Nick Lincoln","startTime":1017.24,"endTime":1020.54,"body":"rate at 6.2 in the first place."},{"speaker":"Nick Lincoln","startTime":1017.24,"endTime":1020.54,"body":"So take it with our printer's"},{"speaker":"Nick Lincoln","startTime":1020.54,"endTime":1020.9599999999999,"body":"salt."},{"speaker":"Carl Widger","startTime":1021.92,"endTime":1024.14,"body":"I don't know some"},{"speaker":"Carl Widger","startTime":1021.92,"endTime":1024.14,"body":"truth to that. No, I'm right. I"},{"speaker":"Carl Widger","startTime":1026.84,"endTime":1029.54,"body":"love the way you get all the"},{"speaker":"Carl Widger","startTime":1026.84,"endTime":1029.54,"body":"stuff in Ireland totally correct"},{"speaker":"Carl Widger","startTime":1029.6,"endTime":1035.14,"body":"all the time. No, because"},{"speaker":"Carl Widger","startTime":1029.6,"endTime":1035.14,"body":"Ireland only had what happened"},{"speaker":"Carl Widger","startTime":1035.14,"endTime":1037.84,"body":"after the financial crisis is"},{"speaker":"Carl Widger","startTime":1035.14,"endTime":1037.84,"body":"Ireland is left with two pillar"},{"speaker":"Carl Widger","startTime":1037.84,"endTime":1041.02,"body":"banks and kind of one other"},{"speaker":"Carl Widger","startTime":1037.84,"endTime":1041.02,"body":"smaller bank everybody, and"},{"speaker":"Carl Widger","startTime":1041.02,"endTime":1043.96,"body":"they're just the Irish banks, of"},{"speaker":"Carl Widger","startTime":1041.02,"endTime":1043.96,"body":"which the Irish government had"},{"speaker":"Carl Widger","startTime":1043.96,"endTime":1047.38,"body":"to bail out, and everybody else"},{"speaker":"Carl Widger","startTime":1043.96,"endTime":1047.38,"body":"left said, this is a shit show"},{"speaker":"Carl Widger","startTime":1047.38,"endTime":1051.3600000000001,"body":"we're getting out of here. So"},{"speaker":"Carl Widger","startTime":1047.38,"endTime":1051.3600000000001,"body":"what has happened over the last"},{"speaker":"Carl Widger","startTime":1051.3600000000001,"endTime":1054.24,"body":"couple of years is the likes of"},{"speaker":"Carl Widger","startTime":1051.3600000000001,"endTime":1054.24,"body":"Revolut have come in. And there"},{"speaker":"Carl Widger","startTime":1054.24,"endTime":1058.86,"body":"are other banks now, like"},{"speaker":"Carl Widger","startTime":1054.24,"endTime":1058.86,"body":"raison.ie who are European banks"},{"speaker":"Carl Widger","startTime":1058.98,"endTime":1065.1,"body":"and are offering better rates."},{"speaker":"Carl Widger","startTime":1058.98,"endTime":1065.1,"body":"And yes, the aibs and Bank of"},{"speaker":"Carl Widger","startTime":1065.1,"endTime":1068.6399999999999,"body":"Ireland, of this world have it."},{"speaker":"Carl Widger","startTime":1065.1,"endTime":1068.6399999999999,"body":"Have put some term deposits on"},{"speaker":"Carl Widger","startTime":1068.7,"endTime":1071.24,"body":"so if you lock your money up for"},{"speaker":"Carl Widger","startTime":1068.7,"endTime":1071.24,"body":"a year or two. Yes, they have"},{"speaker":"Carl Widger","startTime":1071.84,"endTime":1074.84,"body":"brought introduced those. But"},{"speaker":"Carl Widger","startTime":1071.84,"endTime":1074.84,"body":"there are competitors out there"},{"speaker":"Carl Widger","startTime":1074.84,"endTime":1079.7,"body":"now who it will take time for"},{"speaker":"Carl Widger","startTime":1074.84,"endTime":1079.7,"body":"them to start eating the lunch"},{"speaker":"Carl Widger","startTime":1079.7,"endTime":1082.7,"body":"of the pillar banks here, but it"},{"speaker":"Carl Widger","startTime":1079.7,"endTime":1082.7,"body":"will, it will. It will come"},{"speaker":"Carl Widger","startTime":1082.7,"endTime":1084.74,"body":"true. It will come true. You"},{"speaker":"Unknown","startTime":1084.74,"endTime":1086.78,"body":"guys remember the"},{"speaker":"Unknown","startTime":1084.74,"endTime":1086.78,"body":"Icelandic banks?"},{"speaker":"Nick Lincoln","startTime":1087.92,"endTime":1089.96,"body":"Bank, yes. Bank,"},{"speaker":"Nick Lincoln","startTime":1087.92,"endTime":1089.96,"body":"seven. Ice,"},{"speaker":"Alan Smith","startTime":1091.28,"endTime":1097.48,"body":"yeah. Yeah. Close"},{"speaker":"Alan Smith","startTime":1091.28,"endTime":1097.48,"body":"personal friend. Close personal"},{"speaker":"Alan Smith","startTime":1097.48,"endTime":1100.36,"body":"story. Story for another time,"},{"speaker":"Alan Smith","startTime":1097.48,"endTime":1100.36,"body":"the young, the young viewers,"},{"speaker":"Alan Smith","startTime":1100.36,"endTime":1103.54,"body":"listeners will probably never"},{"speaker":"Alan Smith","startTime":1100.36,"endTime":1103.54,"body":"have heard of this stuff in 2006"},{"speaker":"Alan Smith","startTime":1104.44,"endTime":1111.18,"body":"789, a population of 300,000 so"},{"speaker":"Alan Smith","startTime":1104.44,"endTime":1111.18,"body":"it became the banking center of"},{"speaker":"Alan Smith","startTime":1111.18,"endTime":1111.6,"body":"Europe."},{"speaker":"Nick Lincoln","startTime":1111.839,"endTime":1113.759,"body":"That's right,"},{"speaker":"Nick Lincoln","startTime":1111.839,"endTime":1113.759,"body":"that's right. But they, I think"},{"speaker":"Nick Lincoln","startTime":1113.759,"endTime":1116.879,"body":"it's read generated itself from"},{"speaker":"Nick Lincoln","startTime":1113.759,"endTime":1116.879,"body":"that car crash. And I think,"},{"speaker":"Nick Lincoln","startTime":1116.879,"endTime":1121.199,"body":"once again, Helsinki is a very"},{"speaker":"Nick Lincoln","startTime":1116.879,"endTime":1121.199,"body":"strong is it Helsinki? What's a"},{"speaker":"Nick Lincoln","startTime":1121.199,"endTime":1129.239,"body":"couple of Rick COVID? Oh,"},{"speaker":"Nick Lincoln","startTime":1121.199,"endTime":1129.239,"body":"whatever. Details. I'm not a"},{"speaker":"Nick Lincoln","startTime":1129.719,"endTime":1134.059,"body":"details person. Just talk Stern"},{"speaker":"Nick Lincoln","startTime":1129.719,"endTime":1134.059,"body":"is, if you know it going on"},{"speaker":"Nick Lincoln","startTime":1134.059,"endTime":1136.699,"body":"about and get me through it. I"},{"speaker":"Nick Lincoln","startTime":1134.059,"endTime":1136.699,"body":"remember I did when that period"},{"speaker":"Nick Lincoln","startTime":1136.699,"endTime":1139.519,"body":"of time sort of 2005 to seven,"},{"speaker":"Nick Lincoln","startTime":1136.699,"endTime":1139.519,"body":"when these, these banks were"},{"speaker":"Nick Lincoln","startTime":1139.519,"endTime":1142.039,"body":"offering crazy and in this"},{"speaker":"Nick Lincoln","startTime":1139.519,"endTime":1142.039,"body":"country, Northern Rock and so"},{"speaker":"Nick Lincoln","startTime":1142.039,"endTime":1144.4389999999999,"body":"forth, yeah. And that was on the"},{"speaker":"Nick Lincoln","startTime":1142.039,"endTime":1144.4389999999999,"body":"back of the when the middle of"},{"speaker":"Nick Lincoln","startTime":1144.4389999999999,"endTime":1146.539,"body":"the lost decade for equities."},{"speaker":"Nick Lincoln","startTime":1144.4389999999999,"endTime":1146.539,"body":"And, you know, people say, I"},{"speaker":"Nick Lincoln","startTime":1146.599,"endTime":1151.719,"body":"hold now I can get 7% guaranteed"},{"speaker":"Nick Lincoln","startTime":1146.599,"endTime":1151.719,"body":"in the bank since, since March,"},{"speaker":"Nick Lincoln","startTime":1151.719,"endTime":1155.4389999999999,"body":"2000 my portfolio, my the great"},{"speaker":"Nick Lincoln","startTime":1151.719,"endTime":1155.4389999999999,"body":"companies, is actually"},{"speaker":"Nick Lincoln","startTime":1155.4389999999999,"endTime":1157.599,"body":"underwater. It was really, yeah,"},{"speaker":"Nick Lincoln","startTime":1155.4389999999999,"endTime":1157.599,"body":"it was"},{"speaker":"Unknown","startTime":1157.599,"endTime":1160.299,"body":"a tough sell. It was a"},{"speaker":"Unknown","startTime":1157.599,"endTime":1160.299,"body":"tough sell, yeah,"},{"speaker":"Carl Widger","startTime":1160.54,"endTime":1162.7,"body":"like, in response"},{"speaker":"Carl Widger","startTime":1160.54,"endTime":1162.7,"body":"to that, then the likes of"},{"speaker":"Carl Widger","startTime":1162.7,"endTime":1167.2,"body":"raisin.ie you know, they'll only"},{"speaker":"Carl Widger","startTime":1162.7,"endTime":1167.2,"body":"allow you put 100,000 up to the"},{"speaker":"Carl Widger","startTime":1167.2,"endTime":1172.1399999999999,"body":"European government guarantee in"},{"speaker":"Carl Widger","startTime":1167.2,"endTime":1172.1399999999999,"body":"each provider. So it's, you"},{"speaker":"Carl Widger","startTime":1172.1399999999999,"endTime":1176.58,"body":"know, it's actually limit you on"},{"speaker":"Carl Widger","startTime":1172.1399999999999,"endTime":1176.58,"body":"that call. Yeah, they do. Oh,"},{"speaker":"Carl Widger","startTime":1176.58,"endTime":1180.96,"body":"wow, interesting. Yeah. So it is"},{"speaker":"Carl Widger","startTime":1176.58,"endTime":1180.96,"body":"rock solid, secure as long as"},{"speaker":"Carl Widger","startTime":1180.96,"endTime":1186.54,"body":"you're happy with, I should,"},{"speaker":"Carl Widger","startTime":1180.96,"endTime":1186.54,"body":"this is not advice, of course,"},{"speaker":"Carl Widger","startTime":1186.84,"endTime":1190.7,"body":"but as if you're happy with"},{"speaker":"Carl Widger","startTime":1186.84,"endTime":1190.7,"body":"government guarantees, well then"},{"speaker":"Carl Widger","startTime":1190.7,"endTime":1194.72,"body":"it's as secure as you're going"},{"speaker":"Carl Widger","startTime":1190.7,"endTime":1194.72,"body":"to get. Now it's another"},{"speaker":"Carl Widger","startTime":1194.72,"endTime":1198.08,"body":"argument altogether about the"},{"speaker":"Carl Widger","startTime":1194.72,"endTime":1198.08,"body":"erosion of the value of your"},{"speaker":"Carl Widger","startTime":1198.08,"endTime":1202.3999999999999,"body":"money over time if you're only"},{"speaker":"Carl Widger","startTime":1198.08,"endTime":1202.3999999999999,"body":"putting it on deposit. But there"},{"speaker":"Carl Widger","startTime":1202.3999999999999,"endTime":1206.06,"body":"are better deposit rates, and"},{"speaker":"Carl Widger","startTime":1202.3999999999999,"endTime":1206.06,"body":"the central bank are producing a"},{"speaker":"Carl Widger","startTime":1206.06,"endTime":1210.58,"body":"report to say, yes, there are,"},{"speaker":"Carl Widger","startTime":1206.06,"endTime":1210.58,"body":"and we're flittering away,"},{"speaker":"Carl Widger","startTime":1210.58,"endTime":1214.84,"body":"frittering away money by not"},{"speaker":"Carl Widger","startTime":1210.58,"endTime":1214.84,"body":"choosing better deposit rates,"},{"speaker":"Carl Widger","startTime":1214.84,"endTime":1217.84,"body":"even within the pillar our own"},{"speaker":"Carl Widger","startTime":1214.84,"endTime":1217.84,"body":"pillar banks. If you don't want"},{"speaker":"Carl Widger","startTime":1217.84,"endTime":1219.7,"body":"to go to some of the new the new"},{"speaker":"Carl Widger","startTime":1217.84,"endTime":1219.7,"body":"providers,"},{"speaker":"Nick Lincoln","startTime":1220.72,"endTime":1224.08,"body":"just Okay, cool"},{"speaker":"Nick Lincoln","startTime":1220.72,"endTime":1224.08,"body":"stuff, right? Here's an old"},{"speaker":"Nick Lincoln","startTime":1224.08,"endTime":1228.04,"body":"canal that's coming around again"},{"speaker":"Nick Lincoln","startTime":1224.08,"endTime":1228.04,"body":"thanks to Ultra. Yeah, this"},{"speaker":"Andy Hart","startTime":1228.04,"endTime":1229.96,"body":"does the rounds,"},{"speaker":"Andy Hart","startTime":1228.04,"endTime":1229.96,"body":"doesn't it? The safe withdraw."},{"speaker":"Andy Hart","startTime":1230.04,"endTime":1232.56,"body":"Rate, what percentage of your"},{"speaker":"Andy Hart","startTime":1230.04,"endTime":1232.56,"body":"money can take out of it once"},{"speaker":"Andy Hart","startTime":1232.56,"endTime":1235.62,"body":"you've hit financial"},{"speaker":"Andy Hart","startTime":1232.56,"endTime":1235.62,"body":"independence and ideally, never"},{"speaker":"Andy Hart","startTime":1235.62,"endTime":1241.86,"body":"run out of money. Monavator has"},{"speaker":"Andy Hart","startTime":1235.62,"endTime":1241.86,"body":"done a deep dive on the UK safe"},{"speaker":"Andy Hart","startTime":1241.86,"endTime":1245.6399999999999,"body":"withdrawal rate. Has done a two"},{"speaker":"Andy Hart","startTime":1241.86,"endTime":1245.6399999999999,"body":"part series, though, if you boys"},{"speaker":"Andy Hart","startTime":1245.6399999999999,"endTime":1247.86,"body":"have clicked on the link, but"},{"speaker":"Andy Hart","startTime":1245.6399999999999,"endTime":1247.86,"body":"there's an interesting chart"},{"speaker":"Andy Hart","startTime":1247.86,"endTime":1251.96,"body":"right at the bottom that goes"},{"speaker":"Andy Hart","startTime":1247.86,"endTime":1251.96,"body":"back to 1870 I mean, God knows"},{"speaker":"Andy Hart","startTime":1251.96,"endTime":1255.74,"body":"where they're getting their data"},{"speaker":"Andy Hart","startTime":1251.96,"endTime":1255.74,"body":"from. But 1870 and then running"},{"speaker":"Andy Hart","startTime":1255.74,"endTime":1261.44,"body":"a 6040, UK equity, UK bond"},{"speaker":"Andy Hart","startTime":1255.74,"endTime":1261.44,"body":"portfolio, and running that over"},{"speaker":"Andy Hart","startTime":1261.44,"endTime":1267.32,"body":"a 30 year retirement period, and"},{"speaker":"Andy Hart","startTime":1261.44,"endTime":1267.32,"body":"it gives you which number of"},{"speaker":"Andy Hart","startTime":1267.32,"endTime":1270.02,"body":"percentage return you could have"},{"speaker":"Andy Hart","startTime":1267.32,"endTime":1270.02,"body":"started out by taking and sort"},{"speaker":"Andy Hart","startTime":1270.02,"endTime":1274.24,"body":"of continued it successfully. So"},{"speaker":"Andy Hart","startTime":1270.02,"endTime":1274.24,"body":"out of those, you know, 150"},{"speaker":"Andy Hart","startTime":1274.54,"endTime":1281.98,"body":"years or something, there's only"},{"speaker":"Andy Hart","startTime":1274.54,"endTime":1281.98,"body":"been, probably about 30 years"},{"speaker":"Andy Hart","startTime":1281.98,"endTime":1285.82,"body":"where you couldn't have taken a"},{"speaker":"Andy Hart","startTime":1281.98,"endTime":1285.82,"body":"continued withdrawal rate of 4%"},{"speaker":"Andy Hart","startTime":1286.6599999999999,"endTime":1289.06,"body":"so what I'm saying even on the"},{"speaker":"Andy Hart","startTime":1286.6599999999999,"endTime":1289.06,"body":"basis of, I mean, this is a"},{"speaker":"Andy Hart","startTime":1289.06,"endTime":1291.78,"body":"spreadsheet problem, not a real"},{"speaker":"Andy Hart","startTime":1289.06,"endTime":1291.78,"body":"life problem. We know that. You"},{"speaker":"Andy Hart","startTime":1291.78,"endTime":1294.96,"body":"know, humans adjust. They spend"},{"speaker":"Andy Hart","startTime":1291.78,"endTime":1294.96,"body":"less, spend more, give money"},{"speaker":"Andy Hart","startTime":1294.96,"endTime":1298.3799999999999,"body":"away, new money inflows come in."},{"speaker":"Andy Hart","startTime":1294.96,"endTime":1298.3799999999999,"body":"They, you know, downsize the"},{"speaker":"Andy Hart","startTime":1298.3799999999999,"endTime":1300.78,"body":"house, upside, you know, stuff"},{"speaker":"Andy Hart","startTime":1298.3799999999999,"endTime":1300.78,"body":"happens, you know, and they"},{"speaker":"Andy Hart","startTime":1300.78,"endTime":1303.36,"body":"don't. And then they don't just"},{"speaker":"Andy Hart","startTime":1300.78,"endTime":1303.36,"body":"drive off the cliff, you know,"},{"speaker":"Andy Hart","startTime":1303.36,"endTime":1305.82,"body":"they re edit their behaviors."},{"speaker":"Andy Hart","startTime":1303.36,"endTime":1305.82,"body":"They don't drive the car off the"},{"speaker":"Andy Hart","startTime":1305.82,"endTime":1310.1599999999999,"body":"cliff. But on spreadsheets,"},{"speaker":"Andy Hart","startTime":1305.82,"endTime":1310.1599999999999,"body":"these, these problems are, are a"},{"speaker":"Andy Hart","startTime":1310.1599999999999,"endTime":1315.08,"body":"math problem. But yes, it's"},{"speaker":"Andy Hart","startTime":1310.1599999999999,"endTime":1315.08,"body":"looking quite positive for the"},{"speaker":"Andy Hart","startTime":1315.08,"endTime":1319.46,"body":"4% with withdrawal figure, as"},{"speaker":"Andy Hart","startTime":1315.08,"endTime":1319.46,"body":"in, this is just UK numbers."},{"speaker":"Andy Hart","startTime":1319.58,"endTime":1324.56,"body":"It's not a 60% equities versus"},{"speaker":"Andy Hart","startTime":1319.58,"endTime":1324.56,"body":"global numbers, an increased"},{"speaker":"Andy Hart","startTime":1324.56,"endTime":1328.28,"body":"equity exposure. So yeah, it's"},{"speaker":"Andy Hart","startTime":1324.56,"endTime":1328.28,"body":"quite good reading. If you are"},{"speaker":"Andy Hart","startTime":1328.28,"endTime":1331.06,"body":"into this sort of stuff. I know"},{"speaker":"Andy Hart","startTime":1328.28,"endTime":1331.06,"body":"some financial advisors love"},{"speaker":"Andy Hart","startTime":1331.06,"endTime":1333.8799999999999,"body":"this stuff, and they, you know,"},{"speaker":"Andy Hart","startTime":1331.06,"endTime":1333.8799999999999,"body":"discuss it at length with their"},{"speaker":"Andy Hart","startTime":1333.8799999999999,"endTime":1336.8799999999999,"body":"clients. I mean, it's a good,"},{"speaker":"Andy Hart","startTime":1333.8799999999999,"endTime":1336.8799999999999,"body":"you know, rule of thumb, if"},{"speaker":"Andy Hart","startTime":1336.8799999999999,"endTime":1342.82,"body":"you've got x size of pot, you"},{"speaker":"Andy Hart","startTime":1336.8799999999999,"endTime":1342.82,"body":"know, the perceived wisdom is,"},{"speaker":"Andy Hart","startTime":1342.82,"endTime":1345.94,"body":"you can take this much out of"},{"speaker":"Andy Hart","startTime":1342.82,"endTime":1345.94,"body":"it, and you're not going to run"},{"speaker":"Andy Hart","startTime":1345.94,"endTime":1350.46,"body":"out of money. Obviously,"},{"speaker":"Andy Hart","startTime":1345.94,"endTime":1350.46,"body":"exceptions apply. Yes, that's"},{"speaker":"Andy Hart","startTime":1350.46,"endTime":1353.1599999999999,"body":"that motivated is good. We've"},{"speaker":"Andy Hart","startTime":1350.46,"endTime":1353.1599999999999,"body":"spoken about them before. So"},{"speaker":"Andy Hart","startTime":1353.1599999999999,"endTime":1357.3,"body":"that's a strong, a strong link"},{"speaker":"Andy Hart","startTime":1353.1599999999999,"endTime":1357.3,"body":"for their blogs and research and"},{"speaker":"Andy Hart","startTime":1357.3,"endTime":1361.5,"body":"stuff that they put out, and"},{"speaker":"Andy Hart","startTime":1357.3,"endTime":1361.5,"body":"also a bit of update on safe"},{"speaker":"Andy Hart","startTime":1361.5,"endTime":1364.02,"body":"withdrawal information. That's"},{"speaker":"Andy Hart","startTime":1361.5,"endTime":1364.02,"body":"it over to you. Alan,"},{"speaker":"Alan Smith","startTime":1365.52,"endTime":1369.06,"body":"it's heuristic."},{"speaker":"Alan Smith","startTime":1365.52,"endTime":1369.06,"body":"Andrew, do you know that is a"},{"speaker":"Alan Smith","startTime":1369.06,"endTime":1373.22,"body":"heuristic? It's a heuristic."},{"speaker":"Alan Smith","startTime":1369.06,"endTime":1373.22,"body":"Sort of is, it's a rule of"},{"speaker":"Alan Smith","startTime":1373.22,"endTime":1376.34,"body":"thumb, and yeah, and that's"},{"speaker":"Alan Smith","startTime":1373.22,"endTime":1376.34,"body":"where great financial planning"},{"speaker":"Alan Smith","startTime":1376.34,"endTime":1379.8799999999999,"body":"is to do the work, because life"},{"speaker":"Alan Smith","startTime":1376.34,"endTime":1379.8799999999999,"body":"is never according to a rule of"},{"speaker":"Alan Smith","startTime":1379.8799999999999,"endTime":1382.1,"body":"thumb, never a spreadsheet"},{"speaker":"Alan Smith","startTime":1379.8799999999999,"endTime":1382.1,"body":"problem, yeah, but it's just a"},{"speaker":"Alan Smith","startTime":1382.1,"endTime":1384.98,"body":"conversation, and it's not bad."},{"speaker":"Alan Smith","startTime":1382.1,"endTime":1384.98,"body":"And so they're basically saying,"},{"speaker":"Alan Smith","startTime":1385.34,"endTime":1389.3,"body":"Yeah, you wouldn't get too far"},{"speaker":"Alan Smith","startTime":1385.34,"endTime":1389.3,"body":"wrong. No, withdrawing at 4%"},{"speaker":"Andy Hart","startTime":1389.96,"endTime":1392.26,"body":"there's been some"},{"speaker":"Andy Hart","startTime":1389.96,"endTime":1392.26,"body":"obviously horrendous periods,"},{"speaker":"Andy Hart","startTime":1392.26,"endTime":1395.62,"body":"World War One, World Two, but, I"},{"speaker":"Andy Hart","startTime":1392.26,"endTime":1395.62,"body":"mean, you know, but overall,"},{"speaker":"Andy Hart","startTime":1395.92,"endTime":1396.46,"body":"yeah,"},{"speaker":"Nick Lincoln","startTime":1397.899,"endTime":1400.899,"body":"interesting. Okay,"},{"speaker":"Nick Lincoln","startTime":1397.899,"endTime":1400.899,"body":"I think, I think, I think Ultra"},{"speaker":"Nick Lincoln","startTime":1400.899,"endTime":1403.6589999999999,"body":"was giving you a segue into your"},{"speaker":"Nick Lincoln","startTime":1400.899,"endTime":1403.6589999999999,"body":"piece on Fisher, rather than"},{"speaker":"Nick Lincoln","startTime":1403.6589999999999,"endTime":1407.379,"body":"just asking to talk about"},{"speaker":"Nick Lincoln","startTime":1403.6589999999999,"endTime":1407.379,"body":"heuristics. But I'm just thank"},{"speaker":"Nick Lincoln","startTime":1407.379,"endTime":1408.219,"body":"you, thanks"},{"speaker":"Andy Hart","startTime":1408.22,"endTime":1409.96,"body":"for the nudge. It's"},{"speaker":"Andy Hart","startTime":1408.22,"endTime":1409.96,"body":"been a long it's been a long"},{"speaker":"Andy Hart","startTime":1409.96,"endTime":1411.24,"body":"bank holiday weekend. Doesn't"},{"speaker":"Nick Lincoln","startTime":1413.04,"endTime":1414.12,"body":"it? Just running"},{"speaker":"Nick Lincoln","startTime":1413.04,"endTime":1414.12,"body":"on fumes."},{"speaker":"Alan Smith","startTime":1415.68,"endTime":1418.02,"body":"This was just, yeah,"},{"speaker":"Alan Smith","startTime":1415.68,"endTime":1418.02,"body":"I saw this come up. I thought"},{"speaker":"Alan Smith","startTime":1418.02,"endTime":1422.28,"body":"I'd bring it to your attention."},{"speaker":"Alan Smith","startTime":1418.02,"endTime":1422.28,"body":"Company called Fisher, Fisher"},{"speaker":"Alan Smith","startTime":1422.28,"endTime":1426.6,"body":"Investments, who are a US"},{"speaker":"Alan Smith","startTime":1422.28,"endTime":1426.6,"body":"business, and got quite a"},{"speaker":"Alan Smith","startTime":1426.6,"endTime":1428.8799999999999,"body":"sizeable operation. Now I"},{"speaker":"Alan Smith","startTime":1426.6,"endTime":1428.8799999999999,"body":"understand in the UK, i"},{"speaker":"Alan Smith","startTime":1436.46,"endTime":1439.82,"body":"i We've probably all got our"},{"speaker":"Alan Smith","startTime":1436.46,"endTime":1439.82,"body":"experiences to one degree or"},{"speaker":"Alan Smith","startTime":1439.82,"endTime":1443.84,"body":"another. I don't know them at"},{"speaker":"Alan Smith","startTime":1439.82,"endTime":1443.84,"body":"all. I know of Ken Fisher in the"},{"speaker":"Alan Smith","startTime":1443.84,"endTime":1446.72,"body":"US, the founder of the"},{"speaker":"Alan Smith","startTime":1443.84,"endTime":1446.72,"body":"organization. I know that Ken"},{"speaker":"Alan Smith","startTime":1446.72,"endTime":1451.0,"body":"Fisher is a billionaire through"},{"speaker":"Alan Smith","startTime":1446.72,"endTime":1451.0,"body":"and he runs, does lots of"},{"speaker":"Alan Smith","startTime":1451.0,"endTime":1454.96,"body":"things, but he does. He runs"},{"speaker":"Alan Smith","startTime":1451.0,"endTime":1454.96,"body":"this Ria, which is an IFA in the"},{"speaker":"Alan Smith","startTime":1454.96,"endTime":1458.98,"body":"US, and it's a pretty big"},{"speaker":"Alan Smith","startTime":1454.96,"endTime":1458.98,"body":"organization, but the I just"},{"speaker":"Alan Smith","startTime":1458.98,"endTime":1463.12,"body":"kept seeing, I don't know if I'm"},{"speaker":"Alan Smith","startTime":1458.98,"endTime":1463.12,"body":"hitting their age group, I'm in"},{"speaker":"Alan Smith","startTime":1463.12,"endTime":1466.3,"body":"the profile. I keep seeing their"},{"speaker":"Alan Smith","startTime":1463.12,"endTime":1466.3,"body":"adverts everywhere, everywhere"},{"speaker":"Alan Smith","startTime":1466.3,"endTime":1469.78,"body":"they come up. You see you guys"},{"speaker":"Alan Smith","startTime":1466.3,"endTime":1469.78,"body":"are all see them in the times."},{"speaker":"Alan Smith","startTime":1469.78,"endTime":1473.1,"body":"Yeah. So yeah, I just paid a"},{"speaker":"Alan Smith","startTime":1469.78,"endTime":1473.1,"body":"little bit more attention to"},{"speaker":"Alan Smith","startTime":1473.1,"endTime":1475.26,"body":"them recently. Quite"},{"speaker":"Alan Smith","startTime":1473.1,"endTime":1475.26,"body":"interesting. You go on LinkedIn,"},{"speaker":"Alan Smith","startTime":1475.92,"endTime":1478.8,"body":"and if you click the ad, it"},{"speaker":"Alan Smith","startTime":1475.92,"endTime":1478.8,"body":"tells you how many people,"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1483.24,"body":"because it's a classic, provide"},{"speaker":"Alan Smith","startTime":1478.8,"endTime":1483.24,"body":"you with some material like, you"},{"speaker":"Alan Smith","startTime":1483.24,"endTime":1486.48,"body":"know, a lead magnet. Provide you"},{"speaker":"Alan Smith","startTime":1483.24,"endTime":1486.48,"body":"with, you know, the 10 things"},{"speaker":"Alan Smith","startTime":1486.48,"endTime":1489.78,"body":"you need to do before you"},{"speaker":"Alan Smith","startTime":1486.48,"endTime":1489.78,"body":"retire, as long as you've got at"},{"speaker":"Alan Smith","startTime":1489.78,"endTime":1494.6599999999999,"body":"least 500,000 pounds, you know,"},{"speaker":"Alan Smith","startTime":1489.78,"endTime":1494.6599999999999,"body":"big caveat in it as well. And so"},{"speaker":"Alan Smith","startTime":1494.6599999999999,"endTime":1497.06,"body":"you download it, but it on"},{"speaker":"Alan Smith","startTime":1494.6599999999999,"endTime":1497.06,"body":"LinkedIn, it shows you how many"},{"speaker":"Alan Smith","startTime":1497.06,"endTime":1500.6599999999999,"body":"people have downloaded that"},{"speaker":"Alan Smith","startTime":1497.06,"endTime":1500.6599999999999,"body":"particular thing. And I saw one"},{"speaker":"Alan Smith","startTime":1501.3799999999999,"endTime":1505.1599999999999,"body":"article, and there was, like"},{"speaker":"Alan Smith","startTime":1501.3799999999999,"endTime":1505.1599999999999,"body":"three and a half 1000 downloads"},{"speaker":"Alan Smith","startTime":1505.1599999999999,"endTime":1507.44,"body":"of that document. Now, quite a"},{"speaker":"Alan Smith","startTime":1505.1599999999999,"endTime":1507.44,"body":"few of them, I think, are other"},{"speaker":"Alan Smith","startTime":1507.44,"endTime":1510.94,"body":"advisors having a look. But"},{"speaker":"Alan Smith","startTime":1507.44,"endTime":1510.94,"body":"within that number, there's"},{"speaker":"Alan Smith","startTime":1510.94,"endTime":1513.46,"body":"going to be, you're going to be"},{"speaker":"Alan Smith","startTime":1510.94,"endTime":1513.46,"body":"a couple of 1000 leads,"},{"speaker":"Alan Smith","startTime":1513.46,"endTime":1515.8,"body":"effectively, people who have"},{"speaker":"Alan Smith","startTime":1513.46,"endTime":1515.8,"body":"effectively put their hand up"},{"speaker":"Alan Smith","startTime":1515.8,"endTime":1518.92,"body":"and said, I'm quite interested"},{"speaker":"Alan Smith","startTime":1515.8,"endTime":1518.92,"body":"in this. I pre qualified myself"},{"speaker":"Alan Smith","startTime":1518.92,"endTime":1521.26,"body":"as having at least half a"},{"speaker":"Alan Smith","startTime":1518.92,"endTime":1521.26,"body":"million pounds of investable"},{"speaker":"Alan Smith","startTime":1521.56,"endTime":1524.86,"body":"assets and and they'll get a"},{"speaker":"Alan Smith","startTime":1521.56,"endTime":1524.86,"body":"call, and they are now in the in"},{"speaker":"Alan Smith","startTime":1524.86,"endTime":1527.92,"body":"the system. And I remember a"},{"speaker":"Alan Smith","startTime":1524.86,"endTime":1527.92,"body":"couple of years ago, I can't, I"},{"speaker":"Alan Smith","startTime":1527.92,"endTime":1530.58,"body":"can't remember which podcast it"},{"speaker":"Alan Smith","startTime":1527.92,"endTime":1530.58,"body":"was on, but there. Was one"},{"speaker":"Alan Smith","startTime":1530.8799999999999,"endTime":1534.42,"body":"American Financial podcast, and"},{"speaker":"Alan Smith","startTime":1530.8799999999999,"endTime":1534.42,"body":"the guy, he was doing something"},{"speaker":"Alan Smith","startTime":1534.42,"endTime":1536.8799999999999,"body":"else, but he used to work, he"},{"speaker":"Alan Smith","startTime":1534.42,"endTime":1536.8799999999999,"body":"was like, headed up the"},{"speaker":"Alan Smith","startTime":1536.8799999999999,"endTime":1540.18,"body":"marketing team at Fisher, and he"},{"speaker":"Alan Smith","startTime":1536.8799999999999,"endTime":1540.18,"body":"said it was, it's just an"},{"speaker":"Alan Smith","startTime":1540.18,"endTime":1544.1399999999999,"body":"absolute money making machine."},{"speaker":"Alan Smith","startTime":1540.18,"endTime":1544.1399999999999,"body":"They're so so all over, their"},{"speaker":"Alan Smith","startTime":1544.1399999999999,"endTime":1546.72,"body":"data, their analytics, if you"},{"speaker":"Alan Smith","startTime":1544.1399999999999,"endTime":1546.72,"body":"just, you know, if you, if you"},{"speaker":"Alan Smith","startTime":1546.72,"endTime":1550.02,"body":"post your LinkedIn thing or your"},{"speaker":"Alan Smith","startTime":1546.72,"endTime":1550.02,"body":"newspaper advert or whatever it"},{"speaker":"Alan Smith","startTime":1550.02,"endTime":1552.68,"body":"is, on a on a Tuesday at three"},{"speaker":"Alan Smith","startTime":1550.02,"endTime":1552.68,"body":"o'clock versus a Friday at four"},{"speaker":"Alan Smith","startTime":1552.68,"endTime":1555.08,"body":"o'clock and all this stuff. And"},{"speaker":"Alan Smith","startTime":1552.68,"endTime":1555.08,"body":"it was they just fine tuned it"},{"speaker":"Alan Smith","startTime":1555.08,"endTime":1559.22,"body":"and fine tuned it, and they are"},{"speaker":"Alan Smith","startTime":1555.08,"endTime":1559.22,"body":"an absolute growth machine. They"},{"speaker":"Alan Smith","startTime":1559.22,"endTime":1562.04,"body":"are just flying in terms of"},{"speaker":"Alan Smith","startTime":1559.22,"endTime":1562.04,"body":"business growth. I just find it"},{"speaker":"Alan Smith","startTime":1562.04,"endTime":1564.8,"body":"quite interesting. You guys seen"},{"speaker":"Alan Smith","startTime":1562.04,"endTime":1564.8,"body":"them, you've seen"},{"speaker":"Unknown","startTime":1566.18,"endTime":1567.74,"body":"it, and"},{"speaker":"Carl Widger","startTime":1568.94,"endTime":1571.54,"body":"very active here."},{"speaker":"Carl Widger","startTime":1568.94,"endTime":1571.54,"body":"We've actually gone through"},{"speaker":"Carl Widger","startTime":1571.54,"endTime":1574.0,"body":"their process, right? So put,"},{"speaker":"Carl Widger","startTime":1571.54,"endTime":1574.0,"body":"you have to put in a phone"},{"speaker":"Carl Widger","startTime":1574.0,"endTime":1577.0,"body":"number, and if you put in a"},{"speaker":"Carl Widger","startTime":1574.0,"endTime":1577.0,"body":"dodgy phone number, it won't let"},{"speaker":"Carl Widger","startTime":1577.0,"endTime":1579.58,"body":"you through to the next stage."},{"speaker":"Carl Widger","startTime":1577.0,"endTime":1579.58,"body":"You put in the wrong email,"},{"speaker":"Carl Widger","startTime":1580.18,"endTime":1584.86,"body":"right? And then they so we did"},{"speaker":"Carl Widger","startTime":1580.18,"endTime":1584.86,"body":"do it, and you get a report, a"},{"speaker":"Carl Widger","startTime":1584.86,"endTime":1588.7,"body":"kind of eight page report about"},{"speaker":"Carl Widger","startTime":1584.86,"endTime":1588.7,"body":"successful investing, actually"},{"speaker":"Carl Widger","startTime":1588.7,"endTime":1591.84,"body":"interesting Andy. Some of it's"},{"speaker":"Carl Widger","startTime":1588.7,"endTime":1591.84,"body":"about how much you can afford to"},{"speaker":"Carl Widger","startTime":1591.84,"endTime":1594.6599999999999,"body":"take down on retirement. That"},{"speaker":"Carl Widger","startTime":1591.84,"endTime":1594.6599999999999,"body":"kind of stuff is really good"},{"speaker":"Carl Widger","startTime":1594.84,"endTime":1597.96,"body":"look. We've probably because"},{"speaker":"Carl Widger","startTime":1594.84,"endTime":1597.96,"body":"we're in the business. We know"},{"speaker":"Carl Widger","startTime":1597.96,"endTime":1601.8,"body":"about Fisher Investments and Ken"},{"speaker":"Carl Widger","startTime":1597.96,"endTime":1601.8,"body":"Fisher and all that kind of"},{"speaker":"Carl Widger","startTime":1601.8,"endTime":1607.32,"body":"stuff, right? Leave that aside."},{"speaker":"Carl Widger","startTime":1601.8,"endTime":1607.32,"body":"If you want to grow a serious"},{"speaker":"Carl Widger","startTime":1607.32,"endTime":1610.6399999999999,"body":"financial planning firm, you got"},{"speaker":"Carl Widger","startTime":1607.32,"endTime":1610.6399999999999,"body":"to learn from firms like this."},{"speaker":"Carl Widger","startTime":1610.6399999999999,"endTime":1615.68,"body":"They are absolutely smashing it,"},{"speaker":"Carl Widger","startTime":1610.6399999999999,"endTime":1615.68,"body":"as Alan says, yeah, they are."},{"speaker":"Carl Widger","startTime":1616.04,"endTime":1619.04,"body":"They're not afraid of sales. So"},{"speaker":"Carl Widger","startTime":1616.04,"endTime":1619.04,"body":"sometimes I think we get, and"},{"speaker":"Carl Widger","startTime":1619.04,"endTime":1622.58,"body":"I've said there's loads right"},{"speaker":"Carl Widger","startTime":1619.04,"endTime":1622.58,"body":"too angelic about just doing"},{"speaker":"Carl Widger","startTime":1622.58,"endTime":1626.42,"body":"financial planning and not doing"},{"speaker":"Carl Widger","startTime":1622.58,"endTime":1626.42,"body":"marketing and not want to grow"},{"speaker":"Carl Widger","startTime":1626.42,"endTime":1629.84,"body":"and sales, yeah, they're like,"},{"speaker":"Carl Widger","startTime":1626.42,"endTime":1629.84,"body":"going after it. And it is"},{"speaker":"Carl Widger","startTime":1629.84,"endTime":1632.44,"body":"incessant when they get your"},{"speaker":"Carl Widger","startTime":1629.84,"endTime":1632.44,"body":"phone number, that your email"},{"speaker":"Carl Widger","startTime":1632.44,"endTime":1635.5,"body":"address, they are, they're"},{"speaker":"Carl Widger","startTime":1632.44,"endTime":1635.5,"body":"getting that meeting with you."},{"speaker":"Carl Widger","startTime":1635.56,"endTime":1636.28,"body":"You know, they're really"},{"speaker":"Alan Smith","startTime":1636.34,"endTime":1638.98,"body":"but you have, you've"},{"speaker":"Alan Smith","startTime":1636.34,"endTime":1638.98,"body":"that that's, that's the kind of"},{"speaker":"Alan Smith","startTime":1638.98,"endTime":1640.8999999999999,"body":"that's the bargain that you"},{"speaker":"Alan Smith","startTime":1638.98,"endTime":1640.8999999999999,"body":"make. They've given you"},{"speaker":"Alan Smith","startTime":1640.8999999999999,"endTime":1644.8,"body":"something of value. So they"},{"speaker":"Alan Smith","startTime":1640.8999999999999,"endTime":1644.8,"body":"said, Oh, in return, all we want"},{"speaker":"Alan Smith","startTime":1644.8,"endTime":1647.26,"body":"is a phone call with you, just"},{"speaker":"Alan Smith","startTime":1644.8,"endTime":1647.26,"body":"to ask how we can, how we can"},{"speaker":"Alan Smith","startTime":1647.26,"endTime":1649.78,"body":"help. And I tell you what it"},{"speaker":"Alan Smith","startTime":1647.26,"endTime":1649.78,"body":"works that"},{"speaker":"Andy Hart","startTime":1649.78,"endTime":1651.8999999999999,"body":"they are insanely"},{"speaker":"Andy Hart","startTime":1649.78,"endTime":1651.8999999999999,"body":"prolific, and they are all over"},{"speaker":"Andy Hart","startTime":1651.8999999999999,"endTime":1654.06,"body":"the market. And as both of you"},{"speaker":"Andy Hart","startTime":1651.8999999999999,"endTime":1654.06,"body":"guys have said, I think their"},{"speaker":"Andy Hart","startTime":1654.06,"endTime":1656.7,"body":"original one, how long would"},{"speaker":"Andy Hart","startTime":1654.06,"endTime":1656.7,"body":"250,000"},{"speaker":"Nick Lincoln","startTime":1657.78,"endTime":1658.98,"body":"it was 250 it was"},{"speaker":"Nick Lincoln","startTime":1657.78,"endTime":1658.98,"body":"250"},{"speaker":"Andy Hart","startTime":1659.34,"endTime":1662.1599999999999,"body":"Yeah, retirement is"},{"speaker":"Andy Hart","startTime":1659.34,"endTime":1662.1599999999999,"body":"the most success again. I don't"},{"speaker":"Andy Hart","startTime":1662.1599999999999,"endTime":1664.74,"body":"know the comparisons, but I'm"},{"speaker":"Andy Hart","startTime":1662.1599999999999,"endTime":1664.74,"body":"just a shame it's one of the"},{"speaker":"Andy Hart","startTime":1664.74,"endTime":1666.06,"body":"most successful financial"},{"speaker":"Alan Smith","startTime":1666.36,"endTime":1669.8999999999999,"body":"No, it is. No, it's"},{"speaker":"Alan Smith","startTime":1666.36,"endTime":1669.8999999999999,"body":"known to be the most"},{"speaker":"Andy Hart","startTime":1670.079,"endTime":1671.899,"body":"ever. In recent"},{"speaker":"Andy Hart","startTime":1670.079,"endTime":1671.899,"body":"years, they've nudged up to"},{"speaker":"Andy Hart","startTime":1671.899,"endTime":1676.099,"body":"500,000 I think I've seen 750"},{"speaker":"Andy Hart","startTime":1671.899,"endTime":1676.099,"body":"again. They're just testing ABC,"},{"speaker":"Andy Hart","startTime":1676.099,"endTime":1678.739,"body":"testing different numbers,"},{"speaker":"Andy Hart","startTime":1676.099,"endTime":1678.739,"body":"different people, and it is a"},{"speaker":"Andy Hart","startTime":1678.739,"endTime":1682.219,"body":"lead magnet, classic. My advice"},{"speaker":"Andy Hart","startTime":1678.739,"endTime":1682.219,"body":"to financial advisors out there,"},{"speaker":"Andy Hart","startTime":1682.339,"endTime":1686.539,"body":"just clone exactly what they're"},{"speaker":"Andy Hart","startTime":1682.339,"endTime":1686.539,"body":"doing. They don't own How long"},{"speaker":"Andy Hart","startTime":1686.539,"endTime":1690.1589999999999,"body":"will 250,000 pounds last in"},{"speaker":"Andy Hart","startTime":1686.539,"endTime":1690.1589999999999,"body":"retirement? There's no"},{"speaker":"Andy Hart","startTime":1690.399,"endTime":1693.759,"body":"proprietary information there,"},{"speaker":"Andy Hart","startTime":1690.399,"endTime":1693.759,"body":"and just go all in on heavy"},{"speaker":"Andy Hart","startTime":1693.759,"endTime":1697.719,"body":"LinkedIn campaign. I don't want"},{"speaker":"Andy Hart","startTime":1693.759,"endTime":1697.719,"body":"to deal with 800 inbounds. I"},{"speaker":"Andy Hart","startTime":1697.719,"endTime":1700.719,"body":"would just be too busy. But if I"},{"speaker":"Andy Hart","startTime":1697.719,"endTime":1700.719,"body":"had a firm where I had loads of"},{"speaker":"Andy Hart","startTime":1700.719,"endTime":1703.539,"body":"advisors that wanted to deal"},{"speaker":"Andy Hart","startTime":1700.719,"endTime":1703.539,"body":"with that, that level of inbound"},{"speaker":"Andy Hart","startTime":1703.539,"endTime":1708.039,"body":"and that level of client, just"},{"speaker":"Andy Hart","startTime":1703.539,"endTime":1708.039,"body":"clone it. And therefore there's"},{"speaker":"Andy Hart","startTime":1708.039,"endTime":1710.879,"body":"no financial promotions when"},{"speaker":"Andy Hart","startTime":1708.039,"endTime":1710.879,"body":"you're doing when you're selling"},{"speaker":"Andy Hart","startTime":1710.879,"endTime":1713.639,"body":"different gold funds and"},{"speaker":"Andy Hart","startTime":1710.879,"endTime":1713.639,"body":"different periods, you have to"},{"speaker":"Andy Hart","startTime":1713.639,"endTime":1717.299,"body":"quote a load of historical data"},{"speaker":"Andy Hart","startTime":1713.639,"endTime":1717.299,"body":"compared to this, compared to"},{"speaker":"Andy Hart","startTime":1717.299,"endTime":1720.539,"body":"that. This is just general high"},{"speaker":"Andy Hart","startTime":1717.299,"endTime":1720.539,"body":"level information. More"},{"speaker":"Andy Hart","startTime":1720.539,"endTime":1725.459,"body":"financial planning to just clone"},{"speaker":"Andy Hart","startTime":1720.539,"endTime":1725.459,"body":"it. It's It's insanely"},{"speaker":"Andy Hart","startTime":1725.459,"endTime":1726.059,"body":"successful."},{"speaker":"Nick Lincoln","startTime":1729.0,"endTime":1731.24,"body":"Yeah. Change the"},{"speaker":"Nick Lincoln","startTime":1729.0,"endTime":1731.24,"body":"name to fishing investments. How"},{"speaker":"Nick Lincoln","startTime":1731.6,"endTime":1734.84,"body":"long would 251,000 pounds last"},{"speaker":"Nick Lincoln","startTime":1731.6,"endTime":1734.84,"body":"time? So"},{"speaker":"Unknown","startTime":1737.18,"endTime":1738.08,"body":"who's next?"},{"speaker":"Nick Lincoln","startTime":1739.099,"endTime":1742.519,"body":"Smaller companies."},{"speaker":"Nick Lincoln","startTime":1739.099,"endTime":1742.519,"body":"The Case for smaller companies,"},{"speaker":"Nick Lincoln","startTime":1742.519,"endTime":1744.499,"body":"for smaller companies, yeah."},{"speaker":"Carl Widger","startTime":1744.5,"endTime":1747.32,"body":"So before I go on,"},{"speaker":"Carl Widger","startTime":1744.5,"endTime":1747.32,"body":"Nick your microphone, is after"},{"speaker":"Carl Widger","startTime":1747.32,"endTime":1749.8999999999999,"body":"doing that weird stuff, yeah,"},{"speaker":"Carl Widger","startTime":1747.32,"endTime":1749.8999999999999,"body":"exactly. What it's doing again,"},{"speaker":"Carl Widger","startTime":1749.8999999999999,"endTime":1755.1399999999999,"body":"yeah, exactly. Okay. So this is,"},{"speaker":"Carl Widger","startTime":1749.8999999999999,"endTime":1755.1399999999999,"body":"this is a very 15 page report if"},{"speaker":"Carl Widger","startTime":1755.1399999999999,"endTime":1761.3799999999999,"body":"you want to support the case for"},{"speaker":"Carl Widger","startTime":1755.1399999999999,"endTime":1761.3799999999999,"body":"smaller companies. So Andy kind"},{"speaker":"Carl Widger","startTime":1761.3799999999999,"endTime":1765.1,"body":"of mentioned it earlier on."},{"speaker":"Carl Widger","startTime":1761.3799999999999,"endTime":1765.1,"body":"Sometimes you might need or want"},{"speaker":"Carl Widger","startTime":1765.34,"endTime":1770.02,"body":"to have your research done or to"},{"speaker":"Carl Widger","startTime":1765.34,"endTime":1770.02,"body":"send a research document to a"},{"speaker":"Carl Widger","startTime":1770.02,"endTime":1774.72,"body":"client as to why that you should"},{"speaker":"Carl Widger","startTime":1770.02,"endTime":1774.72,"body":"you should mute Nick just for a"},{"speaker":"Carl Widger","startTime":1774.72,"endTime":1781.2,"body":"sec. So if you, if you want"},{"speaker":"Carl Widger","startTime":1774.72,"endTime":1781.2,"body":"proof or research as to why"},{"speaker":"Carl Widger","startTime":1781.2,"endTime":1786.3,"body":"smaller companies might be a"},{"speaker":"Carl Widger","startTime":1781.2,"endTime":1786.3,"body":"good idea, then this is the"},{"speaker":"Carl Widger","startTime":1786.3,"endTime":1790.34,"body":"report for you. It's quite"},{"speaker":"Carl Widger","startTime":1786.3,"endTime":1790.34,"body":"detailed, but interestingly, if"},{"speaker":"Carl Widger","startTime":1790.34,"endTime":1795.08,"body":"I asked you how the S P has"},{"speaker":"Carl Widger","startTime":1790.34,"endTime":1795.08,"body":"outperformed the Russell 2000"},{"speaker":"Carl Widger","startTime":1795.44,"endTime":1799.28,"body":"which is kind of the smaller"},{"speaker":"Carl Widger","startTime":1795.44,"endTime":1799.28,"body":"companies index, obviously,"},{"speaker":"Carl Widger","startTime":1799.28,"endTime":1803.48,"body":"because of the Magnificent Seven"},{"speaker":"Carl Widger","startTime":1799.28,"endTime":1803.48,"body":"over the last three, three"},{"speaker":"Carl Widger","startTime":1803.48,"endTime":1806.84,"body":"years, correct, what did it"},{"speaker":"Carl Widger","startTime":1803.48,"endTime":1806.84,"body":"outperform over the last five"},{"speaker":"Carl Widger","startTime":1806.84,"endTime":1810.7,"body":"years? What would your what"},{"speaker":"Carl Widger","startTime":1806.84,"endTime":1810.7,"body":"would your instinct versus the"},{"speaker":"Carl Widger","startTime":1810.7,"endTime":1813.3999999999999,"body":"Russell Carl, the S P versus the"},{"speaker":"Carl Widger","startTime":1810.7,"endTime":1813.3999999999999,"body":"Russell 2000"},{"speaker":"Andy Hart","startTime":1813.879,"endTime":1815.6789999999999,"body":"so, well, I'm gonna"},{"speaker":"Andy Hart","startTime":1813.879,"endTime":1815.6789999999999,"body":"say no, because you asked the"},{"speaker":"Carl Widger","startTime":1815.68,"endTime":1818.2,"body":"question that way,"},{"speaker":"Carl Widger","startTime":1815.68,"endTime":1818.2,"body":"yeah. So you would actually"},{"speaker":"Carl Widger","startTime":1818.2,"endTime":1821.86,"body":"think yes. You would actually"},{"speaker":"Carl Widger","startTime":1818.2,"endTime":1821.86,"body":"think that the S P has, you"},{"speaker":"Carl Widger","startTime":1821.86,"endTime":1824.92,"body":"would feel because it's Yeah,"},{"speaker":"Carl Widger","startTime":1821.86,"endTime":1824.92,"body":"fly five years. You're right. It"},{"speaker":"Carl Widger","startTime":1824.92,"endTime":1831.06,"body":"has over 10 years. Over 10"},{"speaker":"Carl Widger","startTime":1824.92,"endTime":1831.06,"body":"years. Yes, quick, yes. The S P"},{"speaker":"Carl Widger","startTime":1831.06,"endTime":1835.1399999999999,"body":"has, and over 20 years, has the"},{"speaker":"Carl Widger","startTime":1831.06,"endTime":1835.1399999999999,"body":"S P outperformed the Russell"},{"speaker":"Carl Widger","startTime":1835.1399999999999,"endTime":1841.56,"body":"2000 No, yes, yes, it has. So,"},{"speaker":"Carl Widger","startTime":1835.1399999999999,"endTime":1841.56,"body":"so here's the thing, right? So"},{"speaker":"Carl Widger","startTime":1841.62,"endTime":1845.58,"body":"is this, is this the dawn of a"},{"speaker":"Carl Widger","startTime":1841.62,"endTime":1845.58,"body":"new era, right? You mean smaller"},{"speaker":"Carl Widger","startTime":1845.58,"endTime":1853.22,"body":"value, right? Yeah. So are these"},{"speaker":"Carl Widger","startTime":1845.58,"endTime":1853.22,"body":"tilts still worthwhile? Or are,"},{"speaker":"Carl Widger","startTime":1854.24,"endTime":1857.54,"body":"or should we be looking"},{"speaker":"Carl Widger","startTime":1854.24,"endTime":1857.54,"body":"elsewhere? Now, if you believe"},{"speaker":"Carl Widger","startTime":1857.54,"endTime":1860.6,"body":"that the tilts are are"},{"speaker":"Carl Widger","startTime":1857.54,"endTime":1860.6,"body":"definitely worth it, well, then"},{"speaker":"Carl Widger","startTime":1860.6,"endTime":1864.3799999999999,"body":"you should be going all in on"},{"speaker":"Carl Widger","startTime":1860.6,"endTime":1864.3799999999999,"body":"funds that have tilts towards"},{"speaker":"Carl Widger","startTime":1864.3799999999999,"endTime":1869.84,"body":"smaller and value, you know. But"},{"speaker":"Carl Widger","startTime":1864.3799999999999,"endTime":1869.84,"body":"also, I think you need to avoid,"},{"speaker":"Carl Widger","startTime":1869.84,"endTime":1874.0,"body":"sometimes the echo chamber, and"},{"speaker":"Carl Widger","startTime":1869.84,"endTime":1874.0,"body":"I think that you need to"},{"speaker":"Carl Widger","startTime":1874.0,"endTime":1878.02,"body":"consider maybe the alternative"},{"speaker":"Carl Widger","startTime":1874.0,"endTime":1878.02,"body":"here. And so the report does say"},{"speaker":"Carl Widger","startTime":1878.2,"endTime":1882.1,"body":"that you should not just go into"},{"speaker":"Carl Widger","startTime":1878.2,"endTime":1882.1,"body":"smaller companies, that maybe"},{"speaker":"Carl Widger","startTime":1882.1,"endTime":1886.12,"body":"it's smaller companies with some"},{"speaker":"Carl Widger","startTime":1882.1,"endTime":1886.12,"body":"active management that's a bit"},{"speaker":"Carl Widger","startTime":1886.12,"endTime":1889.48,"body":"that we're all kind of going to"},{"speaker":"Carl Widger","startTime":1886.12,"endTime":1889.48,"body":"go, whoa. But all I'm saying is,"},{"speaker":"Carl Widger","startTime":1889.48,"endTime":1892.8,"body":"you know, this report basically"},{"speaker":"Carl Widger","startTime":1889.48,"endTime":1892.8,"body":"says that it's a big opportunity"},{"speaker":"Carl Widger","startTime":1892.8,"endTime":1897.18,"body":"for smaller companies right now,"},{"speaker":"Carl Widger","startTime":1892.8,"endTime":1897.18,"body":"the figures would tell us that"},{"speaker":"Carl Widger","startTime":1897.42,"endTime":1900.3,"body":"our instinct would tell us that,"},{"speaker":"Carl Widger","startTime":1897.42,"endTime":1900.3,"body":"here's the proof behind it,"},{"speaker":"Carl Widger","startTime":1900.3,"endTime":1903.06,"body":"here's some research behind it."},{"speaker":"Carl Widger","startTime":1900.3,"endTime":1903.06,"body":"But also, I think you need to"},{"speaker":"Carl Widger","startTime":1903.06,"endTime":1908.52,"body":"challenge your own beliefs. And"},{"speaker":"Carl Widger","startTime":1903.06,"endTime":1908.52,"body":"when does something that was"},{"speaker":"Carl Widger","startTime":1908.52,"endTime":1912.44,"body":"historically the case become"},{"speaker":"Carl Widger","startTime":1908.52,"endTime":1912.44,"body":"maybe not the way things are"},{"speaker":"Carl Widger","startTime":1958.52,"endTime":1961.8799999999999,"body":"going to be going forward. And"},{"speaker":"Carl Widger","startTime":1958.52,"endTime":1961.8799999999999,"body":"then obviously the counter"},{"speaker":"Carl Widger","startTime":1961.8799999999999,"endTime":1965.1799999999998,"body":"argument is, oh, well, this time"},{"speaker":"Carl Widger","startTime":1961.8799999999999,"endTime":1965.1799999999998,"body":"it's not going to be different."},{"speaker":"Carl Widger","startTime":1965.54,"endTime":1969.08,"body":"Well, there's 20 years of"},{"speaker":"Carl Widger","startTime":1965.54,"endTime":1969.08,"body":"outperformance there that maybe"},{"speaker":"Carl Widger","startTime":1969.1999999999998,"endTime":1972.1999999999998,"body":"we should be considering. So"},{"speaker":"Carl Widger","startTime":1969.1999999999998,"endTime":1972.1999999999998,"body":"look, I'm just putting it out"},{"speaker":"Carl Widger","startTime":1972.1999999999998,"endTime":1976.9599999999998,"body":"there as just to kind of, maybe,"},{"speaker":"Carl Widger","startTime":1972.1999999999998,"endTime":1976.9599999999998,"body":"I don't know, prod some debate"},{"speaker":"Carl Widger","startTime":1976.9599999999998,"endTime":1981.04,"body":"here, but it's a it was, it's an"},{"speaker":"Carl Widger","startTime":1976.9599999999998,"endTime":1981.04,"body":"interesting report I did. I did"},{"speaker":"Carl Widger","startTime":1981.04,"endTime":1987.1599999999999,"body":"read it to basically confirm my"},{"speaker":"Carl Widger","startTime":1981.04,"endTime":1987.1599999999999,"body":"own echo chamber that this was"},{"speaker":"Carl Widger","startTime":1987.2199999999998,"endTime":1987.9399999999998,"body":"the way to go."},{"speaker":"Andy Hart","startTime":1989.02,"endTime":1991.6,"body":"Also, it's the"},{"speaker":"Andy Hart","startTime":1989.02,"endTime":1991.6,"body":"emerging markets as well. You"},{"speaker":"Andy Hart","startTime":1991.6,"endTime":1992.86,"body":"know, the emerging markets gonna"},{"speaker":"Alan Smith","startTime":1994.0,"endTime":1997.8,"body":"Well, here's the"},{"speaker":"Alan Smith","startTime":1994.0,"endTime":1997.8,"body":"thing, mainstream again, I"},{"speaker":"Alan Smith","startTime":1997.8,"endTime":2002.36,"body":"actually read that as well."},{"speaker":"Alan Smith","startTime":1997.8,"endTime":2002.36,"body":"Carl, um, briefly, what are"},{"speaker":"Alan Smith","startTime":2002.36,"endTime":2005.54,"body":"they? I mean, there's a lot in"},{"speaker":"Alan Smith","startTime":2002.36,"endTime":2005.54,"body":"there, if you want to really get"},{"speaker":"Alan Smith","startTime":2005.54,"endTime":2008.4199999999998,"body":"into detail and unpack, one of"},{"speaker":"Alan Smith","startTime":2005.54,"endTime":2008.4199999999998,"body":"the things they talk about,"},{"speaker":"Alan Smith","startTime":2008.4199999999998,"endTime":2012.4399999999998,"body":"which is kind of, I think it's"},{"speaker":"Alan Smith","startTime":2008.4199999999998,"endTime":2012.4399999999998,"body":"the it's the accepted wisdom is"},{"speaker":"Alan Smith","startTime":2012.4399999999998,"endTime":2015.7399999999998,"body":"there's the reversion to mean,"},{"speaker":"Alan Smith","startTime":2012.4399999999998,"endTime":2015.7399999999998,"body":"the rules is this, this thing,"},{"speaker":"Alan Smith","startTime":2015.7399999999998,"endTime":2019.0,"body":"and sometimes the reversion can"},{"speaker":"Alan Smith","startTime":2015.7399999999998,"endTime":2019.0,"body":"take decades, which is"},{"speaker":"Alan Smith","startTime":2019.0,"endTime":2021.1,"body":"happening, and they're talking"},{"speaker":"Alan Smith","startTime":2019.0,"endTime":2021.1,"body":"about that has been, I mean, I"},{"speaker":"Alan Smith","startTime":2021.1,"endTime":2023.3799999999999,"body":"don't know what are they called,"},{"speaker":"Alan Smith","startTime":2021.1,"endTime":2023.3799999999999,"body":"research associates, because I"},{"speaker":"Alan Smith","startTime":2023.3799999999999,"endTime":2025.3,"body":"can't quite remember who they"},{"speaker":"Alan Smith","startTime":2023.3799999999999,"endTime":2025.3,"body":"are. They're not fund"},{"speaker":"Alan Smith","startTime":2025.3,"endTime":2028.36,"body":"themselves. They are proper,"},{"speaker":"Alan Smith","startTime":2025.3,"endTime":2028.36,"body":"sort of in research, research"},{"speaker":"Alan Smith","startTime":2028.36,"endTime":2034.0,"body":"affiliates. They Yeah, it was a"},{"speaker":"Alan Smith","startTime":2028.36,"endTime":2034.0,"body":"well written paper. It kind of"},{"speaker":"Alan Smith","startTime":2034.0,"endTime":2036.7199999999998,"body":"backs up you could argue. I"},{"speaker":"Alan Smith","startTime":2034.0,"endTime":2036.7199999999998,"body":"mean, all of us, to one degree"},{"speaker":"Alan Smith","startTime":2036.7199999999998,"endTime":2040.86,"body":"or another, embrace the DFA in a"},{"speaker":"Alan Smith","startTime":2036.7199999999998,"endTime":2040.86,"body":"dimensional philosophy, and then"},{"speaker":"Alan Smith","startTime":2040.86,"endTime":2044.3999999999999,"body":"the juries are as to whether"},{"speaker":"Alan Smith","startTime":2040.86,"endTime":2044.3999999999999,"body":"they are an active manager or"},{"speaker":"Alan Smith","startTime":2044.3999999999999,"endTime":2048.96,"body":"not, because, because they don't"},{"speaker":"Alan Smith","startTime":2044.3999999999999,"endTime":2048.96,"body":"slavishly embrace the index or"},{"speaker":"Alan Smith","startTime":2048.96,"endTime":2053.7,"body":"small cap or otherwise. The"},{"speaker":"Alan Smith","startTime":2048.96,"endTime":2053.7,"body":"paper also referred to other"},{"speaker":"Alan Smith","startTime":2053.7,"endTime":2056.9,"body":"factors, such as momentum as"},{"speaker":"Alan Smith","startTime":2053.7,"endTime":2056.9,"body":"being an important aspect. So"},{"speaker":"Alan Smith","startTime":2056.9,"endTime":2060.56,"body":"they're kind of alluding the way"},{"speaker":"Alan Smith","startTime":2056.9,"endTime":2060.56,"body":"I read that was, well, if you've"},{"speaker":"Alan Smith","startTime":2060.56,"endTime":2063.38,"body":"got some dimensional funds, and"},{"speaker":"Alan Smith","startTime":2060.56,"endTime":2063.38,"body":"these guys are right, you're"},{"speaker":"Alan Smith","startTime":2063.38,"endTime":2067.34,"body":"probably in the approximate"},{"speaker":"Alan Smith","startTime":2063.38,"endTime":2067.34,"body":"right ballpark to capture some"},{"speaker":"Alan Smith","startTime":2067.34,"endTime":2069.44,"body":"of this future potential upside"},{"speaker":"Alan Smith","startTime":2067.34,"endTime":2069.44,"body":"with a smaller cap."},{"speaker":"Carl Widger","startTime":2069.739,"endTime":2072.499,"body":"Yeah, but they're"},{"speaker":"Carl Widger","startTime":2069.739,"endTime":2072.499,"body":"not saying you should just take"},{"speaker":"Carl Widger","startTime":2072.499,"endTime":2075.799,"body":"a passive approach to the"},{"speaker":"Carl Widger","startTime":2072.499,"endTime":2075.799,"body":"smaller companies that it's no"},{"speaker":"Carl Widger","startTime":2075.799,"endTime":2079.779,"body":"more. So look, the stuff that I"},{"speaker":"Carl Widger","startTime":2075.799,"endTime":2079.779,"body":"didn't agree with, but, but"},{"speaker":"Carl Widger","startTime":2079.779,"endTime":2083.739,"body":"look, I don't know, because"},{"speaker":"Carl Widger","startTime":2079.779,"endTime":2083.739,"body":"nobody knows what's going to"},{"speaker":"Carl Widger","startTime":2083.739,"endTime":2087.819,"body":"happen next year, five years, 10"},{"speaker":"Carl Widger","startTime":2083.739,"endTime":2087.819,"body":"years, right? I know"},{"speaker":"Carl Widger","startTime":2087.819,"endTime":2091.359,"body":"diversification will help you."},{"speaker":"Carl Widger","startTime":2087.819,"endTime":2091.359,"body":"So, you know, and that's that's"},{"speaker":"Carl Widger","startTime":2091.599,"endTime":2095.979,"body":"in terms of styles and"},{"speaker":"Carl Widger","startTime":2091.599,"endTime":2095.979,"body":"everything else. So I'm just"},{"speaker":"Carl Widger","startTime":2095.979,"endTime":2099.119,"body":"saying it's good to challenge"},{"speaker":"Carl Widger","startTime":2095.979,"endTime":2099.119,"body":"yourself, because, as I said, I"},{"speaker":"Carl Widger","startTime":2099.119,"endTime":2101.819,"body":"went for confirmation, and I was"},{"speaker":"Carl Widger","startTime":2099.119,"endTime":2101.819,"body":"challenged when I read the"},{"speaker":"Carl Widger","startTime":2101.819,"endTime":2105.719,"body":"report, but I thought it was"},{"speaker":"Carl Widger","startTime":2101.819,"endTime":2105.719,"body":"really well written, and I for"},{"speaker":"Carl Widger","startTime":2105.719,"endTime":2111.179,"body":"one right, having supported DFA"},{"speaker":"Carl Widger","startTime":2105.719,"endTime":2111.179,"body":"with my own pension money, like"},{"speaker":"Carl Widger","startTime":2112.319,"endTime":2116.639,"body":"I'd love to see the Ross of 2000"},{"speaker":"Carl Widger","startTime":2112.319,"endTime":2116.639,"body":"performing in three years time."},{"speaker":"Carl Widger","startTime":2116.639,"endTime":2118.939,"body":"I'd like to be look at my gun."},{"speaker":"Carl Widger","startTime":2116.639,"endTime":2118.939,"body":"Jesus, remember I was"},{"speaker":"Carl Widger","startTime":2118.939,"endTime":2122.479,"body":"questioning that. And you know,"},{"speaker":"Carl Widger","startTime":2118.939,"endTime":2122.479,"body":"I would like to see that wheel"},{"speaker":"Carl Widger","startTime":2122.479,"endTime":2125.899,"body":"turn sometime soon, please."},{"speaker":"Carl Widger","startTime":2122.479,"endTime":2125.899,"body":"Thank you very much."},{"speaker":"Alan Smith","startTime":2126.62,"endTime":2129.56,"body":"Got to be patient."},{"speaker":"Alan Smith","startTime":2126.62,"endTime":2129.56,"body":"You got how bloody patient?"},{"speaker":"Alan Smith","startTime":2129.56,"endTime":2132.3199999999997,"body":"Yeah, yeah, exactly. Quick,"},{"speaker":"Alan Smith","startTime":2129.56,"endTime":2132.3199999999997,"body":"quick aside. Quick aside. On"},{"speaker":"Alan Smith","startTime":2132.3199999999997,"endTime":2135.68,"body":"this little, little tip, I put"},{"speaker":"Alan Smith","startTime":2132.3199999999997,"endTime":2135.68,"body":"that paper because quite a come"},{"speaker":"Alan Smith","startTime":2135.68,"endTime":2139.0,"body":"to 27 pages or something, quite"},{"speaker":"Alan Smith","startTime":2135.68,"endTime":2139.0,"body":"a lengthy paper, and I put it"},{"speaker":"Alan Smith","startTime":2139.0,"endTime":2142.54,"body":"into a Google LM, then was used"},{"speaker":"Alan Smith","startTime":2139.0,"endTime":2142.54,"body":"it, and it built immediately,"},{"speaker":"Alan Smith","startTime":2142.54,"endTime":2145.66,"body":"straight away, a mind map. So"},{"speaker":"Alan Smith","startTime":2142.54,"endTime":2145.66,"body":"extracted all the relevant"},{"speaker":"Alan Smith","startTime":2145.66,"endTime":2148.2999999999997,"body":"points, and then this sort of"},{"speaker":"Alan Smith","startTime":2145.66,"endTime":2148.2999999999997,"body":"the key three or four points,"},{"speaker":"Alan Smith","startTime":2148.2999999999997,"endTime":2151.66,"body":"and then the sub points, quite a"},{"speaker":"Alan Smith","startTime":2148.2999999999997,"endTime":2151.66,"body":"visual person, a mind map. If"},{"speaker":"Alan Smith","startTime":2151.66,"endTime":2154.72,"body":"you ever come across sort of"},{"speaker":"Alan Smith","startTime":2151.66,"endTime":2154.72,"body":"quite weighty documents, but pop"},{"speaker":"Alan Smith","startTime":2154.72,"endTime":2159.66,"body":"them into Google, LM, Google,"},{"speaker":"Alan Smith","startTime":2154.72,"endTime":2159.66,"body":"LM. Lm, yes, one of the Google"},{"speaker":"Alan Smith","startTime":2159.66,"endTime":2162.6,"body":"suite of AI tools. This is the"},{"speaker":"Alan Smith","startTime":2159.66,"endTime":2162.6,"body":"one that you can you could"},{"speaker":"Alan Smith","startTime":2162.6,"endTime":2166.2,"body":"create a podcast from it if you"},{"speaker":"Alan Smith","startTime":2162.6,"endTime":2166.2,"body":"wanted to, but it does lots of"},{"speaker":"Alan Smith","startTime":2166.2,"endTime":2170.2799999999997,"body":"different summaries, short notes"},{"speaker":"Alan Smith","startTime":2166.2,"endTime":2170.2799999999997,"body":"or but mind maps are pretty"},{"speaker":"Alan Smith","startTime":2170.2799999999997,"endTime":2171.2999999999997,"body":"good. I think you just get,"},{"speaker":"Carl Widger","startTime":2171.2999999999997,"endTime":2173.22,"body":"I just wrote it"},{"speaker":"Carl Widger","startTime":2171.2999999999997,"endTime":2173.22,"body":"down, which means I will never,"},{"speaker":"Carl Widger","startTime":2173.22,"endTime":2174.24,"body":"ever follow it up."},{"speaker":"Nick Lincoln","startTime":2175.62,"endTime":2177.3199999999997,"body":"Because you. Is"},{"speaker":"Nick Lincoln","startTime":2175.62,"endTime":2177.3199999999997,"body":"down. It means you will follow"},{"speaker":"Nick Lincoln","startTime":2177.3199999999997,"endTime":2179.9,"body":"it up. That's the joy of writing"},{"speaker":"Nick Lincoln","startTime":2177.3199999999997,"endTime":2179.9,"body":"things down. No, you"},{"speaker":"Unknown","startTime":2179.9,"endTime":2181.88,"body":"don't, you don't know"},{"speaker":"Unknown","startTime":2179.9,"endTime":2181.88,"body":"how this silly brain works."},{"speaker":"Nick Lincoln","startTime":2183.799,"endTime":2187.159,"body":"Alright, onwards,"},{"speaker":"Nick Lincoln","startTime":2183.799,"endTime":2187.159,"body":"no, I've changed microphones."},{"speaker":"Nick Lincoln","startTime":2187.159,"endTime":2190.0389999999998,"body":"Trappist. Hope that this one's"},{"speaker":"Nick Lincoln","startTime":2187.159,"endTime":2190.0389999999998,"body":"more bearable. If it's not as"},{"speaker":"Nick Lincoln","startTime":2190.0389999999998,"endTime":2193.0389999999998,"body":"good as normal. I apologize."},{"speaker":"Nick Lincoln","startTime":2190.0389999999998,"endTime":2193.0389999999998,"body":"Hargreaves land, oh, this got"},{"speaker":"Nick Lincoln","startTime":2193.0389999999998,"endTime":2195.1389999999997,"body":"the Ultra. Yeah. Go on then."},{"speaker":"Nick Lincoln","startTime":2193.0389999999998,"endTime":2195.1389999999997,"body":"Give us. Give us your hard"},{"speaker":"Nick Lincoln","startTime":2195.1389999999997,"endTime":2196.5789999999997,"body":"grease. Give us your dose of"},{"speaker":"Nick Lincoln","startTime":2195.1389999999997,"endTime":2196.5789999999997,"body":"harvest."},{"speaker":"Andy Hart","startTime":2197.06,"endTime":2199.54,"body":"Well, this is"},{"speaker":"Andy Hart","startTime":2197.06,"endTime":2199.54,"body":"somewhat interesting, I find so"},{"speaker":"Andy Hart","startTime":2199.54,"endTime":2202.48,"body":"Hargreaves, Lansdown is one of"},{"speaker":"Andy Hart","startTime":2199.54,"endTime":2202.48,"body":"the biggest investment platforms"},{"speaker":"Andy Hart","startTime":2202.48,"endTime":2205.2999999999997,"body":"out there. They do great work"},{"speaker":"Andy Hart","startTime":2202.48,"endTime":2205.2999999999997,"body":"for end consumers and promote"},{"speaker":"Andy Hart","startTime":2205.2999999999997,"endTime":2209.2,"body":"the investing culture. One of"},{"speaker":"Andy Hart","startTime":2205.2999999999997,"endTime":2209.2,"body":"the founders, Peter Hargreaves,"},{"speaker":"Andy Hart","startTime":2209.2599999999998,"endTime":2212.8599999999997,"body":"is going back to work at the"},{"speaker":"Andy Hart","startTime":2209.2599999999998,"endTime":2212.8599999999997,"body":"company, or joining back join"},{"speaker":"Andy Hart","startTime":2212.92,"endTime":2220.2599999999998,"body":"joining the board at age 78 you"},{"speaker":"Andy Hart","startTime":2212.92,"endTime":2220.2599999999998,"body":"know, he's built the machine to"},{"speaker":"Andy Hart","startTime":2220.68,"endTime":2225.9,"body":"allow middle England to retire."},{"speaker":"Andy Hart","startTime":2220.68,"endTime":2225.9,"body":"And he retired at 68 he set up"},{"speaker":"Andy Hart","startTime":2225.9,"endTime":2228.3599999999997,"body":"another investment firm. Now"},{"speaker":"Andy Hart","startTime":2225.9,"endTime":2228.3599999999997,"body":"he's going back to the firm that"},{"speaker":"Andy Hart","startTime":2228.3599999999997,"endTime":2232.62,"body":"he founded after a 10 year"},{"speaker":"Andy Hart","startTime":2228.3599999999997,"endTime":2232.62,"body":"hiatus because the firm has just"},{"speaker":"Andy Hart","startTime":2232.62,"endTime":2239.0,"body":"been bought by private equity."},{"speaker":"Andy Hart","startTime":2232.62,"endTime":2239.0,"body":"Is it good to always have"},{"speaker":"Andy Hart","startTime":2239.3599999999997,"endTime":2244.2799999999997,"body":"purpose and work, or should"},{"speaker":"Andy Hart","startTime":2239.3599999999997,"endTime":2244.2799999999997,"body":"these individuals genuinely go"},{"speaker":"Andy Hart","startTime":2244.2799999999997,"endTime":2247.7599999999998,"body":"off and retire? I know it's"},{"speaker":"Andy Hart","startTime":2244.2799999999997,"endTime":2247.7599999999998,"body":"dependent on the individual, but"},{"speaker":"Andy Hart","startTime":2248.0,"endTime":2250.94,"body":"I thought was quite interesting."},{"speaker":"Andy Hart","startTime":2248.0,"endTime":2250.94,"body":"I mean, why would private equity"},{"speaker":"Andy Hart","startTime":2250.94,"endTime":2253.94,"body":"want to buy this firm after it"},{"speaker":"Andy Hart","startTime":2250.94,"endTime":2253.94,"body":"was set up in 1981 and get the"},{"speaker":"Andy Hart","startTime":2253.94,"endTime":2256.04,"body":"78 year old founder back on the"},{"speaker":"Andy Hart","startTime":2253.94,"endTime":2256.04,"body":"board?"},{"speaker":"Carl Widger","startTime":2256.52,"endTime":2258.94,"body":"What was the"},{"speaker":"Carl Widger","startTime":2256.52,"endTime":2258.94,"body":"business? What was the business"},{"speaker":"Carl Widger","startTime":2258.94,"endTime":2262.0,"body":"he set up? What was the"},{"speaker":"Carl Widger","startTime":2258.94,"endTime":2262.0,"body":"business? He said, No, I know"},{"speaker":"Carl Widger","startTime":2262.0,"endTime":2262.12,"body":"her,"},{"speaker":"Andy Hart","startTime":2262.18,"endTime":2265.72,"body":"sorry, whale. It's"},{"speaker":"Andy Hart","startTime":2262.18,"endTime":2265.72,"body":"called Blue Whale, blue whale or"},{"speaker":"Andy Hart","startTime":2265.72,"endTime":2269.2599999999998,"body":"something. It's like a fund"},{"speaker":"Andy Hart","startTime":2265.72,"endTime":2269.2599999999998,"body":"manager that was heavily"},{"speaker":"Andy Hart","startTime":2269.2599999999998,"endTime":2272.2,"body":"promoted on Hargreaves platform."},{"speaker":"Andy Hart","startTime":2269.2599999999998,"endTime":2272.2,"body":"I believe, all right, I think"},{"speaker":"Andy Hart","startTime":2272.2,"endTime":2274.3599999999997,"body":"they got about three or 4"},{"speaker":"Andy Hart","startTime":2272.2,"endTime":2274.3599999999997,"body":"billion, like a successful"},{"speaker":"Andy Hart","startTime":2274.3599999999997,"endTime":2277.2,"body":"company, but nothing compared to"},{"speaker":"Andy Hart","startTime":2274.3599999999997,"endTime":2277.2,"body":"what you previously created. So"},{"speaker":"Andy Hart","startTime":2277.2,"endTime":2278.8199999999997,"body":"it was a bit of a sort of"},{"speaker":"Andy Hart","startTime":2277.2,"endTime":2278.8199999999997,"body":"return. I"},{"speaker":"Alan Smith","startTime":2278.8199999999997,"endTime":2282.6,"body":"think, I think it's"},{"speaker":"Alan Smith","startTime":2278.8199999999997,"endTime":2282.6,"body":"well publicized that, you know,"},{"speaker":"Alan Smith","startTime":2282.6,"endTime":2286.7999999999997,"body":"you can't, he can't forget about"},{"speaker":"Alan Smith","startTime":2282.6,"endTime":2286.7999999999997,"body":"his baby that he created in a"},{"speaker":"Alan Smith","startTime":2286.7999999999997,"endTime":2291.3599999999997,"body":"basement in an office in"},{"speaker":"Alan Smith","startTime":2286.7999999999997,"endTime":2291.3599999999997,"body":"Bristol. And, yeah, he was very,"},{"speaker":"Alan Smith","startTime":2291.3599999999997,"endTime":2295.3199999999997,"body":"very critical of the way the"},{"speaker":"Alan Smith","startTime":2291.3599999999997,"endTime":2295.3199999999997,"body":"company was being managed. Yeah,"},{"speaker":"Alan Smith","startTime":2295.56,"endTime":2297.7999999999997,"body":"felt really, underperformed to"},{"speaker":"Andy Hart","startTime":2297.92,"endTime":2300.14,"body":"go down the advice"},{"speaker":"Andy Hart","startTime":2297.92,"endTime":2300.14,"body":"route. He didn't want tailored"},{"speaker":"Andy Hart","startTime":2300.38,"endTime":2303.44,"body":"advice regulated. He just wanted"},{"speaker":"Andy Hart","startTime":2300.38,"endTime":2303.44,"body":"to do everything super fast,"},{"speaker":"Andy Hart","startTime":2303.44,"endTime":2305.96,"body":"online, digital director,"},{"speaker":"Andy Hart","startTime":2303.44,"endTime":2305.96,"body":"consumer, obviously,"},{"speaker":"Alan Smith","startTime":2305.96,"endTime":2308.12,"body":"he's still of his"},{"speaker":"Alan Smith","startTime":2305.96,"endTime":2308.12,"body":"billions. He's still got, I"},{"speaker":"Alan Smith","startTime":2308.12,"endTime":2311.3599999999997,"body":"mean, whatever, a lot of it, if"},{"speaker":"Alan Smith","startTime":2308.12,"endTime":2311.3599999999997,"body":"not most of it, still wraps up"},{"speaker":"Alan Smith","startTime":2311.3599999999997,"endTime":2312.7999999999997,"body":"in shares in hl."},{"speaker":"Andy Hart","startTime":2313.0989999999997,"endTime":2315.0789999999997,"body":"I think he's actually"},{"speaker":"Andy Hart","startTime":2313.0989999999997,"endTime":2315.0789999999997,"body":"sold his last chunk. But"},{"speaker":"Andy Hart","startTime":2315.0789999999997,"endTime":2317.439,"body":"anyways, was he's worth a few"},{"speaker":"Andy Hart","startTime":2315.0789999999997,"endTime":2317.439,"body":"quid and, yeah,"},{"speaker":"Alan Smith","startTime":2318.819,"endTime":2322.5389999999998,"body":"he sees it. He sees"},{"speaker":"Alan Smith","startTime":2318.819,"endTime":2322.5389999999998,"body":"it as a challenge, doesn't he?"},{"speaker":"Alan Smith","startTime":2322.5389999999998,"endTime":2325.0589999999997,"body":"I'm sure he's sure he's still"},{"speaker":"Alan Smith","startTime":2322.5389999999998,"endTime":2325.0589999999997,"body":"got the energy. He certainly,"},{"speaker":"Alan Smith","startTime":2325.0589999999997,"endTime":2328.1189999999997,"body":"was certainly very vocal about"},{"speaker":"Alan Smith","startTime":2325.0589999999997,"endTime":2328.1189999999997,"body":"the way the organization was"},{"speaker":"Alan Smith","startTime":2328.1189999999997,"endTime":2331.5989999999997,"body":"being run. It's got a it's being"},{"speaker":"Alan Smith","startTime":2328.1189999999997,"endTime":2331.5989999999997,"body":"taken private now. Yeah, sure"},{"speaker":"Carl Widger","startTime":2331.6,"endTime":2333.7,"body":"is something, isn't"},{"speaker":"Carl Widger","startTime":2331.6,"endTime":2333.7,"body":"there a guy that age running"},{"speaker":"Carl Widger","startTime":2334.42,"endTime":2336.52,"body":"America? Exactly."},{"speaker":"Andy Hart","startTime":2338.56,"endTime":2342.3599999999997,"body":"Yeah. So Exactly,"},{"speaker":"Andy Hart","startTime":2338.56,"endTime":2342.3599999999997,"body":"yeah, yeah, for sure, isn't"},{"speaker":"Unknown","startTime":2342.3599999999997,"endTime":2345.12,"body":"can be Terry Smith in"},{"speaker":"Unknown","startTime":2342.3599999999997,"endTime":2345.12,"body":"his 70s. Never,"},{"speaker":"Unknown","startTime":2345.18,"endTime":2347.22,"body":"never retired, never retired."},{"speaker":"Unknown","startTime":2345.18,"endTime":2347.22,"body":"People."},{"speaker":"Nick Lincoln","startTime":2348.66,"endTime":2351.06,"body":"Jack Bose is an"},{"speaker":"Nick Lincoln","startTime":2348.66,"endTime":2351.06,"body":"example where perhaps it wasn't"},{"speaker":"Nick Lincoln","startTime":2351.06,"endTime":2353.7,"body":"a great thing because he hung"},{"speaker":"Nick Lincoln","startTime":2351.06,"endTime":2353.7,"body":"around Vanguard, and it's quite"},{"speaker":"Nick Lincoln","startTime":2353.7,"endTime":2358.52,"body":"clear it wasn't a particularly"},{"speaker":"Nick Lincoln","startTime":2353.7,"endTime":2358.52,"body":"productive relationship. So you"},{"speaker":"Nick Lincoln","startTime":2358.58,"endTime":2361.2799999999997,"body":"maybe got to know when you want"},{"speaker":"Nick Lincoln","startTime":2358.58,"endTime":2361.2799999999997,"body":"to move on talking to which"},{"speaker":"Nick Lincoln","startTime":2361.2799999999997,"endTime":2363.68,"body":"should we move on to the next"},{"speaker":"Nick Lincoln","startTime":2361.2799999999997,"endTime":2363.68,"body":"point? I'm going to guess we're"},{"speaker":"Nick Lincoln","startTime":2363.68,"endTime":2366.2,"body":"37 minutes in, because I think I"},{"speaker":"Nick Lincoln","startTime":2363.68,"endTime":2366.2,"body":"crashed out to change"},{"speaker":"Nick Lincoln","startTime":2366.2,"endTime":2369.2,"body":"microphones at 30 minutes. Now"},{"speaker":"Nick Lincoln","startTime":2366.2,"endTime":2369.2,"body":"it's only seven minutes 30 on my"},{"speaker":"Nick Lincoln","startTime":2369.2,"endTime":2372.98,"body":"calculator, my timer, so 37"},{"speaker":"Nick Lincoln","startTime":2369.2,"endTime":2372.98,"body":"minutes in, okay, well, at the"},{"speaker":"Nick Lincoln","startTime":2372.98,"endTime":2375.56,"body":"start, storyteller mentioned the"},{"speaker":"Nick Lincoln","startTime":2372.98,"endTime":2375.56,"body":"timeline charts and how they're"},{"speaker":"Nick Lincoln","startTime":2375.56,"endTime":2380.38,"body":"useful at these times where all"},{"speaker":"Nick Lincoln","startTime":2375.56,"endTime":2380.38,"body":"asset classes seem to be"},{"speaker":"Nick Lincoln","startTime":2380.38,"endTime":2383.92,"body":"volatile in a downward movement."},{"speaker":"Nick Lincoln","startTime":2380.38,"endTime":2383.92,"body":"And when that happens, we often"},{"speaker":"Nick Lincoln","startTime":2383.92,"endTime":2387.22,"body":"get this called for alternative"},{"speaker":"Nick Lincoln","startTime":2383.92,"endTime":2387.22,"body":"investment. They seem to rise to"},{"speaker":"Nick Lincoln","startTime":2387.22,"endTime":2391.2999999999997,"body":"the top of the school, the"},{"speaker":"Nick Lincoln","startTime":2387.22,"endTime":2391.2999999999997,"body":"cauldron. And so they have at"},{"speaker":"Nick Lincoln","startTime":2391.2999999999997,"endTime":2393.8199999999997,"body":"the moment, and this article"},{"speaker":"Nick Lincoln","startTime":2391.2999999999997,"endTime":2393.8199999999997,"body":"from The Wall Street Journal, I"},{"speaker":"Nick Lincoln","startTime":2393.8199999999997,"endTime":2396.16,"body":"have put it into the so called"},{"speaker":"Nick Lincoln","startTime":2393.8199999999997,"endTime":2396.16,"body":"show notes, and I think it's"},{"speaker":"Nick Lincoln","startTime":2396.16,"endTime":2398.4,"body":"I've made it as a public"},{"speaker":"Nick Lincoln","startTime":2396.16,"endTime":2398.4,"body":"article, so I shouldn't be"},{"speaker":"Nick Lincoln","startTime":2398.4,"endTime":2401.64,"body":"behind the pay wall. And this is"},{"speaker":"Nick Lincoln","startTime":2398.4,"endTime":2401.64,"body":"from Jason spike, who writes"},{"speaker":"Nick Lincoln","startTime":2401.64,"endTime":2405.48,"body":"these weekly missives. Very"},{"speaker":"Nick Lincoln","startTime":2401.64,"endTime":2405.48,"body":"good. And he starts off by"},{"speaker":"Nick Lincoln","startTime":2405.48,"endTime":2408.06,"body":"saying, with the stock and bond"},{"speaker":"Nick Lincoln","startTime":2405.48,"endTime":2408.06,"body":"market stumbling in unison,"},{"speaker":"Nick Lincoln","startTime":2408.06,"endTime":2410.8199999999997,"body":"investment firms and financial"},{"speaker":"Nick Lincoln","startTime":2408.06,"endTime":2410.8199999999997,"body":"advisors are pushing so called"},{"speaker":"Nick Lincoln","startTime":2410.8199999999997,"endTime":2414.6,"body":"alternative funds harder than"},{"speaker":"Nick Lincoln","startTime":2410.8199999999997,"endTime":2414.6,"body":"ever. This week, the Wall Street"},{"speaker":"Nick Lincoln","startTime":2414.6,"endTime":2417.02,"body":"Journal reported that"},{"speaker":"Nick Lincoln","startTime":2414.6,"endTime":2417.02,"body":"Blackstone, the private markets"},{"speaker":"Nick Lincoln","startTime":2417.02,"endTime":2419.42,"body":"giant is partnering with"},{"speaker":"Nick Lincoln","startTime":2417.02,"endTime":2419.42,"body":"Vanguard and Wellington"},{"speaker":"Nick Lincoln","startTime":2419.42,"endTime":2423.14,"body":"management to create portfolios"},{"speaker":"Nick Lincoln","startTime":2419.42,"endTime":2423.14,"body":"or mix publicly traded and"},{"speaker":"Nick Lincoln","startTime":2423.14,"endTime":2428.24,"body":"private assets. And then he goes"},{"speaker":"Nick Lincoln","startTime":2423.14,"endTime":2428.24,"body":"on to really slack off private"},{"speaker":"Nick Lincoln","startTime":2428.24,"endTime":2430.7,"body":"assets and how the people that"},{"speaker":"Nick Lincoln","startTime":2428.24,"endTime":2430.7,"body":"own them, the institutional"},{"speaker":"Nick Lincoln","startTime":2430.7,"endTime":2432.8599999999997,"body":"investors, are trying to get out"},{"speaker":"Nick Lincoln","startTime":2430.7,"endTime":2432.8599999999997,"body":"of these things. They're very"},{"speaker":"Nick Lincoln","startTime":2432.8599999999997,"endTime":2438.52,"body":"highly liquid. He quotes the US"},{"speaker":"Nick Lincoln","startTime":2432.8599999999997,"endTime":2438.52,"body":"university endowments, which are"},{"speaker":"Nick Lincoln","startTime":2438.52,"endTime":2441.52,"body":"just massive. I mean, Harvard's"},{"speaker":"Nick Lincoln","startTime":2438.52,"endTime":2441.52,"body":"runs into the billions and"},{"speaker":"Nick Lincoln","startTime":2441.52,"endTime":2445.3599999999997,"body":"billions alone, and they invest"},{"speaker":"Nick Lincoln","startTime":2441.52,"endTime":2445.3599999999997,"body":"heavily in private equity and"},{"speaker":"Nick Lincoln","startTime":2445.3599999999997,"endTime":2448.72,"body":"alternative assets. And over the"},{"speaker":"Nick Lincoln","startTime":2445.3599999999997,"endTime":2448.72,"body":"last decade, the average"},{"speaker":"Nick Lincoln","startTime":2448.72,"endTime":2453.1,"body":"endowment the US has returned"},{"speaker":"Nick Lincoln","startTime":2448.72,"endTime":2453.1,"body":"6.7% having invested a lot in"},{"speaker":"Nick Lincoln","startTime":2453.1,"endTime":2455.56,"body":"these private equity"},{"speaker":"Nick Lincoln","startTime":2453.1,"endTime":2455.56,"body":"investments, whereas the SNP has"},{"speaker":"Nick Lincoln","startTime":2455.56,"endTime":2458.88,"body":"nearly returned double that. And"},{"speaker":"Nick Lincoln","startTime":2455.56,"endTime":2458.88,"body":"Jason spar makes the point that"},{"speaker":"Nick Lincoln","startTime":2458.88,"endTime":2462.18,"body":"an ETF invested 6040 over the"},{"speaker":"Nick Lincoln","startTime":2458.88,"endTime":2462.18,"body":"last two years would would have"},{"speaker":"Nick Lincoln","startTime":2462.18,"endTime":2466.44,"body":"grown at 6% so there's a highly"},{"speaker":"Nick Lincoln","startTime":2462.18,"endTime":2466.44,"body":"speculative, highly illiquid."},{"speaker":"Nick Lincoln","startTime":2466.44,"endTime":2469.14,"body":"You can't even if you put these"},{"speaker":"Nick Lincoln","startTime":2466.44,"endTime":2469.14,"body":"into client portfolios, I'm not"},{"speaker":"Nick Lincoln","startTime":2469.14,"endTime":2471.48,"body":"sure how your rebalancing"},{"speaker":"Nick Lincoln","startTime":2469.14,"endTime":2471.48,"body":"process is going to work if you"},{"speaker":"Nick Lincoln","startTime":2471.48,"endTime":2473.64,"body":"do it. And it's the age old"},{"speaker":"Nick Lincoln","startTime":2471.48,"endTime":2473.64,"body":"thing. And this is more. This is"},{"speaker":"Nick Lincoln","startTime":2473.64,"endTime":2476.9,"body":"more. The important point that"},{"speaker":"Nick Lincoln","startTime":2473.64,"endTime":2476.9,"body":"I'm trying to convey is that. I"},{"speaker":"Nick Lincoln","startTime":2476.9,"endTime":2479.06,"body":"don't go with what's working"},{"speaker":"Nick Lincoln","startTime":2476.9,"endTime":2479.06,"body":"now, go with us. Always work,"},{"speaker":"Nick Lincoln","startTime":2479.06,"endTime":2481.46,"body":"just because we've suddenly had"},{"speaker":"Nick Lincoln","startTime":2479.06,"endTime":2481.46,"body":"a bit of a tremor that these"},{"speaker":"Nick Lincoln","startTime":2481.46,"endTime":2483.62,"body":"things are coming to the pool,"},{"speaker":"Nick Lincoln","startTime":2481.46,"endTime":2483.62,"body":"we there was an article on"},{"speaker":"Nick Lincoln","startTime":2483.62,"endTime":2486.2599999999998,"body":"LinkedIn wasn't there from an"},{"speaker":"Nick Lincoln","startTime":2483.62,"endTime":2486.2599999999998,"body":"advisor who follows trap, and as"},{"speaker":"Nick Lincoln","startTime":2486.2599999999998,"endTime":2488.72,"body":"a fan of trap, saying that his"},{"speaker":"Nick Lincoln","startTime":2486.2599999999998,"endTime":2488.72,"body":"younger advisors are coming to"},{"speaker":"Nick Lincoln","startTime":2488.72,"endTime":2493.1,"body":"him asking to be put into this"},{"speaker":"Nick Lincoln","startTime":2488.72,"endTime":2493.1,"body":"stuff. Which I, which I, which,"},{"speaker":"Nick Lincoln","startTime":2493.1,"endTime":2496.72,"body":"I hope, I'm assuming that is the"},{"speaker":"Nick Lincoln","startTime":2493.1,"endTime":2496.72,"body":"truth. I hope it isn't the truth"},{"speaker":"Nick Lincoln","startTime":2496.7799999999997,"endTime":2499.54,"body":"on mass. Because I, for me, it's"},{"speaker":"Nick Lincoln","startTime":2496.7799999999997,"endTime":2499.54,"body":"just, you know where this is"},{"speaker":"Nick Lincoln","startTime":2499.54,"endTime":2501.88,"body":"going to go in four or five"},{"speaker":"Nick Lincoln","startTime":2499.54,"endTime":2501.88,"body":"years time. You just know this"},{"speaker":"Nick Lincoln","startTime":2501.88,"endTime":2504.8199999999997,"body":"will be some sort of car crash,"},{"speaker":"Nick Lincoln","startTime":2501.88,"endTime":2504.8199999999997,"body":"and there where, there's where,"},{"speaker":"Nick Lincoln","startTime":2504.8199999999997,"endTime":2507.8199999999997,"body":"there's where there's blame as a"},{"speaker":"Nick Lincoln","startTime":2504.8199999999997,"endTime":2507.8199999999997,"body":"claim, you guys have any"},{"speaker":"Nick Lincoln","startTime":2507.8199999999997,"endTime":2508.12,"body":"thoughts?"},{"speaker":"Andy Hart","startTime":2508.839,"endTime":2510.6389999999997,"body":"Just pretty"},{"speaker":"Andy Hart","startTime":2508.839,"endTime":2510.6389999999997,"body":"staggering numbers. Have just"},{"speaker":"Andy Hart","startTime":2510.6389999999997,"endTime":2513.399,"body":"read the article Nick private"},{"speaker":"Andy Hart","startTime":2510.6389999999997,"endTime":2513.399,"body":"equity firms are sitting on more"},{"speaker":"Andy Hart","startTime":2513.399,"endTime":2519.479,"body":"than 29,000 companies valued at"},{"speaker":"Andy Hart","startTime":2513.399,"endTime":2519.479,"body":"$3.6 trillion and they can't"},{"speaker":"Andy Hart","startTime":2519.479,"endTime":2522.0589999999997,"body":"unload them. That's right."},{"speaker":"Andy Hart","startTime":2519.479,"endTime":2522.0589999999997,"body":"Obviously they can unload a few,"},{"speaker":"Andy Hart","startTime":2522.0589999999997,"endTime":2522.959,"body":"but I can"},{"speaker":"Unknown","startTime":2523.2,"endTime":2525.8399999999997,"body":"unload them to retail."},{"speaker":"Unknown","startTime":2523.2,"endTime":2525.8399999999997,"body":"This is"},{"speaker":"Andy Hart","startTime":2527.339,"endTime":2530.6389999999997,"body":"shift in between each"},{"speaker":"Andy Hart","startTime":2527.339,"endTime":2530.6389999999997,"body":"other. Yeah, make your PE, the"},{"speaker":"Andy Hart","startTime":2530.6389999999997,"endTime":2535.739,"body":"PES, the PE, then then to some"},{"speaker":"Andy Hart","startTime":2530.6389999999997,"endTime":2535.739,"body":"endowment, 29,000 companies."},{"speaker":"Andy Hart","startTime":2535.739,"endTime":2538.5789999999997,"body":"Wow. Samely. Big number. That"},{"speaker":"Alan Smith","startTime":2539.2999999999997,"endTime":2543.7999999999997,"body":"doesn't surprise me."},{"speaker":"Alan Smith","startTime":2539.2999999999997,"endTime":2543.7999999999997,"body":"I am, yeah, in complete"},{"speaker":"Alan Smith","startTime":2543.98,"endTime":2546.74,"body":"agreement with this, the"},{"speaker":"Alan Smith","startTime":2543.98,"endTime":2546.74,"body":"sentiment that you the article,"},{"speaker":"Alan Smith","startTime":2546.74,"endTime":2549.2,"body":"first of all, the sentiment"},{"speaker":"Alan Smith","startTime":2546.74,"endTime":2549.2,"body":"you've raised, Nick Do you know"},{"speaker":"Alan Smith","startTime":2549.2,"endTime":2552.74,"body":"what this is? One of the really"},{"speaker":"Alan Smith","startTime":2549.2,"endTime":2552.74,"body":"important things, I think, as"},{"speaker":"Alan Smith","startTime":2552.92,"endTime":2556.72,"body":"thoughtful financial planners"},{"speaker":"Alan Smith","startTime":2552.92,"endTime":2556.72,"body":"that we all are not to go with"},{"speaker":"Alan Smith","startTime":2556.72,"endTime":2559.72,"body":"the fashion and the current"},{"speaker":"Alan Smith","startTime":2556.72,"endTime":2559.72,"body":"trend and the latest thing. We"},{"speaker":"Alan Smith","startTime":2559.72,"endTime":2563.14,"body":"are all now getting this stuff,"},{"speaker":"Alan Smith","startTime":2559.72,"endTime":2563.14,"body":"this inbound from an emails from"},{"speaker":"Alan Smith","startTime":2563.14,"endTime":2567.04,"body":"various companies. I mean, I'm,"},{"speaker":"Alan Smith","startTime":2563.14,"endTime":2567.04,"body":"I gotta say, I'm slightly"},{"speaker":"Alan Smith","startTime":2567.04,"endTime":2570.94,"body":"surprised by Vanguard embracing"},{"speaker":"Alan Smith","startTime":2567.04,"endTime":2570.94,"body":"this. Yeah, you know a company,"},{"speaker":"Alan Smith","startTime":2570.94,"endTime":2573.58,"body":"their whole ethos, their"},{"speaker":"Alan Smith","startTime":2570.94,"endTime":2573.58,"body":"history, the whole thing low"},{"speaker":"Alan Smith","startTime":2573.58,"endTime":2577.44,"body":"cost index, by the market, by"},{"speaker":"Alan Smith","startTime":2573.58,"endTime":2577.44,"body":"the public markets at the lowest"},{"speaker":"Alan Smith","startTime":2577.44,"endTime":2582.48,"body":"possible cost. This seems to"},{"speaker":"Alan Smith","startTime":2577.44,"endTime":2582.48,"body":"just sort of be in sort of to"},{"speaker":"Alan Smith","startTime":2582.48,"endTime":2584.1,"body":"challenge that original kind of"},{"speaker":"Nick Lincoln","startTime":2584.1,"endTime":2586.44,"body":"ethos. Absolutely,"},{"speaker":"Nick Lincoln","startTime":2584.1,"endTime":2586.44,"body":"absolutely. If it was a classic"},{"speaker":"Nick Lincoln","startTime":2586.44,"endTime":2590.3399999999997,"body":"active, you know, us massive"},{"speaker":"Nick Lincoln","startTime":2586.44,"endTime":2590.3399999999997,"body":"fund like Fidelity, perhaps, or"},{"speaker":"Nick Lincoln","startTime":2590.58,"endTime":2594.12,"body":"or a fisher kind of Rai pushing"},{"speaker":"Nick Lincoln","startTime":2590.58,"endTime":2594.12,"body":"this kind of, you can't totally"},{"speaker":"Nick Lincoln","startTime":2594.12,"endTime":2596.96,"body":"get it Vanguard and Wellington"},{"speaker":"Nick Lincoln","startTime":2594.12,"endTime":2596.96,"body":"are, I mean, Wellington do"},{"speaker":"Nick Lincoln","startTime":2596.96,"endTime":2600.38,"body":"active funds, but really, really"},{"speaker":"Nick Lincoln","startTime":2596.96,"endTime":2600.38,"body":"cheap. You know, they embrace"},{"speaker":"Nick Lincoln","startTime":2600.38,"endTime":2603.08,"body":"the bank because they kind of,"},{"speaker":"Nick Lincoln","startTime":2600.38,"endTime":2603.08,"body":"they work in unison, don't"},{"speaker":"Alan Smith","startTime":2603.5,"endTime":2605.48,"body":"they? Well, they're"},{"speaker":"Alan Smith","startTime":2603.5,"endTime":2605.48,"body":"very close. It wasn't Jack Bogle"},{"speaker":"Alan Smith","startTime":2605.48,"endTime":2607.7599999999998,"body":"originally at Wellington. He"},{"speaker":"Alan Smith","startTime":2605.48,"endTime":2607.7599999999998,"body":"went nuts"},{"speaker":"Nick Lincoln","startTime":2609.2599999999998,"endTime":2611.42,"body":"when they went to"},{"speaker":"Nick Lincoln","startTime":2609.2599999999998,"endTime":2611.42,"body":"ETF, didn't he? He'll be going"},{"speaker":"Nick Lincoln","startTime":2611.42,"endTime":2612.2,"body":"nuts over this. You"},{"speaker":"Alan Smith","startTime":2613.1,"endTime":2615.5,"body":"know, I think that"},{"speaker":"Alan Smith","startTime":2613.1,"endTime":2615.5,"body":"this, this is an important point"},{"speaker":"Alan Smith","startTime":2615.5,"endTime":2617.62,"body":"for any of our audience to"},{"speaker":"Alan Smith","startTime":2615.5,"endTime":2617.62,"body":"listen to, because I"},{"speaker":"Alan Smith","startTime":2617.62,"endTime":2620.8599999999997,"body":"increasingly see this stuff"},{"speaker":"Alan Smith","startTime":2617.62,"endTime":2620.8599999999997,"body":"coming up our you know, we've"},{"speaker":"Alan Smith","startTime":2620.8599999999997,"endTime":2623.62,"body":"got younger clients, we've got"},{"speaker":"Alan Smith","startTime":2620.8599999999997,"endTime":2623.62,"body":"more sophisticated clients."},{"speaker":"Alan Smith","startTime":2623.62,"endTime":2627.1,"body":"Yeah, you know, don't accept"},{"speaker":"Alan Smith","startTime":2623.62,"endTime":2627.1,"body":"this. You know, do your due"},{"speaker":"Alan Smith","startTime":2627.1,"endTime":2630.7599999999998,"body":"diligence. Hold the line and"},{"speaker":"Alan Smith","startTime":2627.1,"endTime":2630.7599999999998,"body":"say, We don't embrace this."},{"speaker":"Alan Smith","startTime":2630.7599999999998,"endTime":2633.7,"body":"There is no data, by the way,"},{"speaker":"Alan Smith","startTime":2630.7599999999998,"endTime":2633.7,"body":"talking about Blackstone, check"},{"speaker":"Alan Smith","startTime":2633.7,"endTime":2636.7799999999997,"body":"Blackstone share price in the"},{"speaker":"Alan Smith","startTime":2633.7,"endTime":2636.7799999999997,"body":"last 12 months, it's absolutely"},{"speaker":"Alan Smith","startTime":2636.7799999999997,"endTime":2639.48,"body":"cratered. Blackstone. Who get"},{"speaker":"Alan Smith","startTime":2636.7799999999997,"endTime":2639.48,"body":"all the best deals? They are the"},{"speaker":"Alan Smith","startTime":2639.48,"endTime":2642.8399999999997,"body":"best in the world at this stuff,"},{"speaker":"Alan Smith","startTime":2639.48,"endTime":2642.8399999999997,"body":"this private equity stuff. They"},{"speaker":"Alan Smith","startTime":2642.8399999999997,"endTime":2645.54,"body":"get access to the best deals,"},{"speaker":"Alan Smith","startTime":2642.8399999999997,"endTime":2645.54,"body":"the best opportunities, and"},{"speaker":"Alan Smith","startTime":2645.54,"endTime":2648.0,"body":"their own share price, which is"},{"speaker":"Alan Smith","startTime":2645.54,"endTime":2648.0,"body":"effectively represents the"},{"speaker":"Alan Smith","startTime":2648.0,"endTime":2649.74,"body":"quality of their deals, which"},{"speaker":"Alan Smith","startTime":2648.0,"endTime":2649.74,"body":"probably comes"},{"speaker":"Nick Lincoln","startTime":2649.74,"endTime":2651.2999999999997,"body":"back to Andy's"},{"speaker":"Nick Lincoln","startTime":2649.74,"endTime":2651.2999999999997,"body":"point, that SharePoint is"},{"speaker":"Nick Lincoln","startTime":2651.2999999999997,"endTime":2653.46,"body":"probably plummeting because they"},{"speaker":"Nick Lincoln","startTime":2651.2999999999997,"endTime":2653.46,"body":"own, they own a lot of these"},{"speaker":"Nick Lincoln","startTime":2653.46,"endTime":2656.4,"body":"29,000 companies they can't sell"},{"speaker":"Nick Lincoln","startTime":2653.46,"endTime":2656.4,"body":"when, every time they every time"},{"speaker":"Nick Lincoln","startTime":2656.4,"endTime":2658.7599999999998,"body":"they weekly price or monthly"},{"speaker":"Nick Lincoln","startTime":2656.4,"endTime":2658.7599999999998,"body":"price, the price is going down."},{"speaker":"Nick Lincoln","startTime":2658.7599999999998,"endTime":2661.22,"body":"Oh, look, there's value over"},{"speaker":"Nick Lincoln","startTime":2658.7599999999998,"endTime":2661.22,"body":"there with a massive retail"},{"speaker":"Nick Lincoln","startTime":2661.22,"endTime":2661.7599999999998,"body":"market."},{"speaker":"Alan Smith","startTime":2662.2999999999997,"endTime":2666.44,"body":"Yeah, there's a bug."},{"speaker":"Alan Smith","startTime":2662.2999999999997,"endTime":2666.44,"body":"Honestly, it's such an important"},{"speaker":"Alan Smith","startTime":2666.44,"endTime":2669.98,"body":"point. This I see, I'm sort of"},{"speaker":"Alan Smith","startTime":2666.44,"endTime":2669.98,"body":"aware of some of the stuff that"},{"speaker":"Alan Smith","startTime":2669.98,"endTime":2672.44,"body":"goes on. I've got some friends"},{"speaker":"Alan Smith","startTime":2669.98,"endTime":2672.44,"body":"that work in institutional"},{"speaker":"Alan Smith","startTime":2672.44,"endTime":2676.2799999999997,"body":"private equity. And this, the"},{"speaker":"Alan Smith","startTime":2672.44,"endTime":2676.2799999999997,"body":"retail market is so attractive"},{"speaker":"Alan Smith","startTime":2676.3399999999997,"endTime":2679.12,"body":"to them billions and trillions"},{"speaker":"Alan Smith","startTime":2676.3399999999997,"endTime":2679.12,"body":"that they can and people who"},{"speaker":"Alan Smith","startTime":2679.12,"endTime":2681.4,"body":"actually, with all due respect,"},{"speaker":"Alan Smith","startTime":2679.12,"endTime":2681.4,"body":"don't really know what they're"},{"speaker":"Alan Smith","startTime":2681.4,"endTime":2683.3199999999997,"body":"doing. They don't know a good"},{"speaker":"Alan Smith","startTime":2681.4,"endTime":2683.3199999999997,"body":"deal from a bad deal, and"},{"speaker":"Alan Smith","startTime":2683.3199999999997,"endTime":2686.7999999999997,"body":"they're relying on these other"},{"speaker":"Alan Smith","startTime":2683.3199999999997,"endTime":2686.7999999999997,"body":"organizations packaging up, you"},{"speaker":"Alan Smith","startTime":2686.7999999999997,"endTime":2689.3199999999997,"body":"know, trust me, the private"},{"speaker":"Alan Smith","startTime":2686.7999999999997,"endTime":2689.3199999999997,"body":"equity companies, they keep the"},{"speaker":"Alan Smith","startTime":2689.3199999999997,"endTime":2692.3199999999997,"body":"best stuff for themselves. They"},{"speaker":"Alan Smith","startTime":2689.3199999999997,"endTime":2692.3199999999997,"body":"aren't just packaging up and"},{"speaker":"Alan Smith","startTime":2692.3199999999997,"endTime":2694.9,"body":"selling it to Van der 100 pound"},{"speaker":"Alan Smith","startTime":2692.3199999999997,"endTime":2694.9,"body":"a month savings plans. It"},{"speaker":"Alan Smith","startTime":2695.14,"endTime":2698.4,"body":"doesn't work like that. And so I"},{"speaker":"Alan Smith","startTime":2695.14,"endTime":2698.4,"body":"think it's really important for"},{"speaker":"Alan Smith","startTime":2698.4,"endTime":2702.42,"body":"advisors to hold the line to say"},{"speaker":"Alan Smith","startTime":2698.4,"endTime":2702.42,"body":"we don't believe in this. We"},{"speaker":"Alan Smith","startTime":2702.42,"endTime":2705.42,"body":"can't find any academic research"},{"speaker":"Alan Smith","startTime":2702.42,"endTime":2705.42,"body":"to support the view that it"},{"speaker":"Alan Smith","startTime":2705.42,"endTime":2708.48,"body":"makes sense. Private equity in"},{"speaker":"Alan Smith","startTime":2705.42,"endTime":2708.48,"body":"itself, there's a strong case"},{"speaker":"Alan Smith","startTime":2708.48,"endTime":2711.72,"body":"for if you were a shareholder,"},{"speaker":"Alan Smith","startTime":2708.48,"endTime":2711.72,"body":"come back 1020, years of the"},{"speaker":"Alan Smith","startTime":2711.72,"endTime":2715.98,"body":"likes of Brax, blacks"},{"speaker":"Alan Smith","startTime":2711.72,"endTime":2715.98,"body":"Blackstone. KKR, no. Black Rob"},{"speaker":"Alan Smith","startTime":2716.22,"endTime":2720.02,"body":"Blackstone, but yeah, KKR,"},{"speaker":"Alan Smith","startTime":2716.22,"endTime":2720.02,"body":"Carlyle, all these big, big"},{"speaker":"Alan Smith","startTime":2720.02,"endTime":2724.16,"body":"players, they've done superbly"},{"speaker":"Alan Smith","startTime":2720.02,"endTime":2724.16,"body":"well. But what's attracted, the"},{"speaker":"Alan Smith","startTime":2724.16,"endTime":2726.7999999999997,"body":"bottom line that Jason's is kind"},{"speaker":"Alan Smith","startTime":2724.16,"endTime":2726.7999999999997,"body":"of referring to, is, what's"},{"speaker":"Alan Smith","startTime":2726.7999999999997,"endTime":2729.5,"body":"attracted to is the kind of"},{"speaker":"Alan Smith","startTime":2726.7999999999997,"endTime":2729.5,"body":"modern version of with profits."},{"speaker":"Alan Smith","startTime":2729.62,"endTime":2732.98,"body":"It's not mark to market. You"},{"speaker":"Alan Smith","startTime":2729.62,"endTime":2732.98,"body":"don't get a daily valuation. So"},{"speaker":"Alan Smith","startTime":2733.04,"endTime":2736.72,"body":"you're, you know, you're 10,000"},{"speaker":"Alan Smith","startTime":2733.04,"endTime":2736.72,"body":"you're 100,000 investments. It's"},{"speaker":"Alan Smith","startTime":2736.72,"endTime":2738.64,"body":"still 100,006 months from now."},{"speaker":"Andy Hart","startTime":2741.04,"endTime":2748.12,"body":"But is this part of a"},{"speaker":"Andy Hart","startTime":2741.04,"endTime":2748.12,"body":"wider trend where private assets"},{"speaker":"Andy Hart","startTime":2748.12,"endTime":2752.44,"body":"are just burgeoning and it's"},{"speaker":"Andy Hart","startTime":2748.12,"endTime":2752.44,"body":"just they're just everywhere,"},{"speaker":"Andy Hart","startTime":2753.58,"endTime":2757.14,"body":"and the investment companies are"},{"speaker":"Andy Hart","startTime":2753.58,"endTime":2757.14,"body":"going to have to somehow make a"},{"speaker":"Andy Hart","startTime":2757.14,"endTime":2759.24,"body":"decision and work out how"},{"speaker":"Andy Hart","startTime":2757.14,"endTime":2759.24,"body":"they're going to package them,"},{"speaker":"Andy Hart","startTime":2759.24,"endTime":2760.68,"body":"sell them to retail clients."},{"speaker":"Alan Smith","startTime":2762.54,"endTime":2765.0,"body":"Yeah, but it's this"},{"speaker":"Alan Smith","startTime":2762.54,"endTime":2765.0,"body":"is how the market works. If it's"},{"speaker":"Alan Smith","startTime":2765.0,"endTime":2768.06,"body":"attract, if the public markets"},{"speaker":"Alan Smith","startTime":2765.0,"endTime":2768.06,"body":"are attractive enough, you take"},{"speaker":"Alan Smith","startTime":2768.06,"endTime":2770.7599999999998,"body":"your company public, you do an"},{"speaker":"Alan Smith","startTime":2768.06,"endTime":2770.7599999999998,"body":"IPO, you list. I'm"},{"speaker":"Andy Hart","startTime":2770.7599999999998,"endTime":2773.4,"body":"asking about private"},{"speaker":"Andy Hart","startTime":2770.7599999999998,"endTime":2773.4,"body":"assets, private equity, private"},{"speaker":"Andy Hart","startTime":2773.4,"endTime":2777.2,"body":"property. It seems like private"},{"speaker":"Andy Hart","startTime":2773.4,"endTime":2777.2,"body":"assets are a. Building to to an"},{"speaker":"Andy Hart","startTime":2777.2,"endTime":2780.44,"body":"astronomical Of course, of"},{"speaker":"Andy Hart","startTime":2777.2,"endTime":2780.44,"body":"course, we've not seen before."},{"speaker":"Andy Hart","startTime":2781.16,"endTime":2784.1,"body":"There's been, there's lots of"},{"speaker":"Andy Hart","startTime":2781.16,"endTime":2784.1,"body":"package them."},{"speaker":"Alan Smith","startTime":2785.12,"endTime":2787.7,"body":"Well, they're worth"},{"speaker":"Alan Smith","startTime":2785.12,"endTime":2787.7,"body":"a lot. Why? Why are they trying"},{"speaker":"Alan Smith","startTime":2787.7,"endTime":2790.22,"body":"to do they're trying to raise"},{"speaker":"Alan Smith","startTime":2787.7,"endTime":2790.22,"body":"more money. You can raise money"},{"speaker":"Alan Smith","startTime":2790.22,"endTime":2793.1,"body":"as a private company. Can't you?"},{"speaker":"Alan Smith","startTime":2790.22,"endTime":2793.1,"body":"You can look for investors. You"},{"speaker":"Alan Smith","startTime":2793.1,"endTime":2795.44,"body":"can have secondaries. You can"},{"speaker":"Alan Smith","startTime":2793.1,"endTime":2795.44,"body":"have other people invest in"},{"speaker":"Alan Smith","startTime":2795.44,"endTime":2797.92,"body":"them. But they're talking about"},{"speaker":"Alan Smith","startTime":2795.44,"endTime":2797.92,"body":"getting access. I just see the I"},{"speaker":"Alan Smith","startTime":2797.92,"endTime":2801.2799999999997,"body":"see the retail market is, you"},{"speaker":"Alan Smith","startTime":2797.92,"endTime":2801.2799999999997,"body":"know, Mr. And Mrs. Middle"},{"speaker":"Alan Smith","startTime":2801.2799999999997,"endTime":2803.92,"body":"England, who are trying to save"},{"speaker":"Alan Smith","startTime":2801.2799999999997,"endTime":2803.92,"body":"towards their retirement. And I"},{"speaker":"Alan Smith","startTime":2803.92,"endTime":2806.74,"body":"don't see a ready place for"},{"speaker":"Alan Smith","startTime":2803.92,"endTime":2806.74,"body":"this. I'm not saying it's not"},{"speaker":"Alan Smith","startTime":2806.74,"endTime":2809.14,"body":"for everyone. There are some"},{"speaker":"Alan Smith","startTime":2806.74,"endTime":2809.14,"body":"very sophisticated investors."},{"speaker":"Alan Smith","startTime":2809.14,"endTime":2811.7799999999997,"body":"It's absolutely appropriate for,"},{"speaker":"Alan Smith","startTime":2809.14,"endTime":2811.7799999999997,"body":"but they're already speaking the"},{"speaker":"Alan Smith","startTime":2811.8399999999997,"endTime":2814.7799999999997,"body":"private equity companies. I'd"},{"speaker":"Alan Smith","startTime":2811.8399999999997,"endTime":2814.7799999999997,"body":"rather say they're probably"},{"speaker":"Alan Smith","startTime":2814.7799999999997,"endTime":2817.56,"body":"getting direct access to some of"},{"speaker":"Alan Smith","startTime":2814.7799999999997,"endTime":2817.56,"body":"their deals and their company,"},{"speaker":"Alan Smith","startTime":2817.56,"endTime":2821.04,"body":"they're not buying a package"},{"speaker":"Alan Smith","startTime":2817.56,"endTime":2821.04,"body":"mutual fund or ETF, so you can"},{"speaker":"Alan Smith","startTime":2821.04,"endTime":2823.74,"body":"tell my views on it. I'm not,"},{"speaker":"Alan Smith","startTime":2821.04,"endTime":2823.74,"body":"I'm not impressed by it, and I"},{"speaker":"Alan Smith","startTime":2823.74,"endTime":2826.38,"body":"think advisors ought to really"},{"speaker":"Alan Smith","startTime":2823.74,"endTime":2826.38,"body":"sort of hold their ground on"},{"speaker":"Alan Smith","startTime":2826.38,"endTime":2828.8399999999997,"body":"this and be prepared to have"},{"speaker":"Alan Smith","startTime":2826.38,"endTime":2828.8399999999997,"body":"healthy conversations."},{"speaker":"Carl Widger","startTime":2829.6189999999997,"endTime":2832.1389999999997,"body":"But this goes back"},{"speaker":"Carl Widger","startTime":2829.6189999999997,"endTime":2832.1389999999997,"body":"Alan to you know what we've"},{"speaker":"Carl Widger","startTime":2832.1389999999997,"endTime":2834.359,"body":"spoken about before, which is,"},{"speaker":"Carl Widger","startTime":2832.1389999999997,"endTime":2834.359,"body":"what's your investment"},{"speaker":"Carl Widger","startTime":2834.359,"endTime":2838.279,"body":"philosophy? And if you know and"},{"speaker":"Carl Widger","startTime":2834.359,"endTime":2838.279,"body":"you've researched and you're"},{"speaker":"Carl Widger","startTime":2838.279,"endTime":2842.179,"body":"comfortable with your own"},{"speaker":"Carl Widger","startTime":2838.279,"endTime":2842.179,"body":"investment philosophy, then you"},{"speaker":"Carl Widger","startTime":2842.179,"endTime":2845.899,"body":"know, you will remain steadfast"},{"speaker":"Carl Widger","startTime":2842.179,"endTime":2845.899,"body":"in that. But go back to my"},{"speaker":"Carl Widger","startTime":2845.899,"endTime":2848.779,"body":"point, it's okay to question it"},{"speaker":"Carl Widger","startTime":2845.899,"endTime":2848.779,"body":"sometimes, and to be, you know,"},{"speaker":"Carl Widger","startTime":2848.779,"endTime":2851.839,"body":"to and to wonder. And we also"},{"speaker":"Carl Widger","startTime":2848.779,"endTime":2851.839,"body":"have spoken before about this"},{"speaker":"Carl Widger","startTime":2851.839,"endTime":2855.0789999999997,"body":"playpen scenario whereby, sure,"},{"speaker":"Carl Widger","startTime":2851.839,"endTime":2855.0789999999997,"body":"you might have private equity,"},{"speaker":"Carl Widger","startTime":2855.0789999999997,"endTime":2857.439,"body":"you might have crypto, you"},{"speaker":"Carl Widger","startTime":2855.0789999999997,"endTime":2857.439,"body":"might, you know, there's other"},{"speaker":"Carl Widger","startTime":2857.439,"endTime":2860.499,"body":"stuff out there. But this whole,"},{"speaker":"Carl Widger","startTime":2857.439,"endTime":2860.499,"body":"you know, I mentioned a couple"},{"speaker":"Carl Widger","startTime":2860.499,"endTime":2863.859,"body":"of episodes ago about the Black"},{"speaker":"Carl Widger","startTime":2860.499,"endTime":2863.859,"body":"Rock are talking about the new"},{"speaker":"Carl Widger","startTime":2863.859,"endTime":2868.1189999999997,"body":"6040, is a 5030, 20, and they're"},{"speaker":"Carl Widger","startTime":2863.859,"endTime":2868.1189999999997,"body":"going down the private equity"},{"speaker":"Carl Widger","startTime":2868.1189999999997,"endTime":2873.0989999999997,"body":"route. I don't know. I'd be very"},{"speaker":"Carl Widger","startTime":2868.1189999999997,"endTime":2873.0989999999997,"body":"for the retail investors,"},{"speaker":"Carl Widger","startTime":2873.879,"endTime":2878.339,"body":"illiquid things like private"},{"speaker":"Carl Widger","startTime":2873.879,"endTime":2878.339,"body":"equity funds. How can it work? I"},{"speaker":"Carl Widger","startTime":2878.339,"endTime":2883.499,"body":"just don't know. How can I work?"},{"speaker":"Carl Widger","startTime":2878.339,"endTime":2883.499,"body":"But for Katie, yeah, but people"},{"speaker":"Carl Widger","startTime":2883.5589999999997,"endTime":2887.879,"body":"who have, who have amassed"},{"speaker":"Carl Widger","startTime":2883.5589999999997,"endTime":2887.879,"body":"wealth and can afford, very"},{"speaker":"Carl Widger","startTime":2887.879,"endTime":2892.859,"body":"clearly, to put, put away 2% 3%"},{"speaker":"Carl Widger","startTime":2887.879,"endTime":2892.859,"body":"5% of their wealth into"},{"speaker":"Carl Widger","startTime":2892.859,"endTime":2896.0389999999998,"body":"something for an eight or 10"},{"speaker":"Carl Widger","startTime":2892.859,"endTime":2896.0389999999998,"body":"year period. Well, then maybe,"},{"speaker":"Carl Widger","startTime":2896.219,"endTime":2900.859,"body":"maybe, maybe I and maybe I"},{"speaker":"Carl Widger","startTime":2896.219,"endTime":2900.859,"body":"agree, if I had an absolute shed"},{"speaker":"Carl Widger","startTime":2900.859,"endTime":2904.0989999999997,"body":"load of money, maybe I would"},{"speaker":"Carl Widger","startTime":2900.859,"endTime":2904.0989999999997,"body":"consider that, but I would be,"},{"speaker":"Carl Widger","startTime":2904.5789999999997,"endTime":2907.6389999999997,"body":"I'd be, I'd be doing my due"},{"speaker":"Carl Widger","startTime":2904.5789999999997,"endTime":2907.6389999999997,"body":"diligence on my provider, and I"},{"speaker":"Carl Widger","startTime":2907.6389999999997,"endTime":2911.899,"body":"wouldn't be doing it in a 5030,"},{"speaker":"Carl Widger","startTime":2907.6389999999997,"endTime":2911.899,"body":"20 scenario, in a fund."},{"speaker":"Alan Smith","startTime":2912.92,"endTime":2915.2,"body":"See that. That's one"},{"speaker":"Alan Smith","startTime":2912.92,"endTime":2915.2,"body":"of the other aspects of it here"},{"speaker":"Alan Smith","startTime":2915.2,"endTime":2918.04,"body":"is Tell me about your due"},{"speaker":"Alan Smith","startTime":2915.2,"endTime":2918.04,"body":"diligence. Tell me about your"},{"speaker":"Alan Smith","startTime":2918.04,"endTime":2921.7,"body":"research budget. Mr. Mr. IFA,"},{"speaker":"Alan Smith","startTime":2918.04,"endTime":2921.7,"body":"Mrs. IFA, up and down the"},{"speaker":"Alan Smith","startTime":2921.7,"endTime":2924.46,"body":"country, recommend this. What?"},{"speaker":"Alan Smith","startTime":2921.7,"endTime":2924.46,"body":"How are you going to research"},{"speaker":"Alan Smith","startTime":2924.46,"endTime":2926.74,"body":"this? Because I got, you're"},{"speaker":"Alan Smith","startTime":2924.46,"endTime":2926.74,"body":"going to need a lot of money and"},{"speaker":"Alan Smith","startTime":2926.74,"endTime":2929.62,"body":"a lot of time and a lot of"},{"speaker":"Alan Smith","startTime":2926.74,"endTime":2929.62,"body":"people to do a proper deep dive"},{"speaker":"Alan Smith","startTime":2929.62,"endTime":2932.14,"body":"analysis of all these various"},{"speaker":"Alan Smith","startTime":2929.62,"endTime":2932.14,"body":"opportunities exist, as you"},{"speaker":"Alan Smith","startTime":2932.14,"endTime":2935.74,"body":"said, and it's 20 odd 1000"},{"speaker":"Alan Smith","startTime":2932.14,"endTime":2935.74,"body":"companies. Yeah, the net ticket."},{"speaker":"Alan Smith","startTime":2935.74,"endTime":2939.6,"body":"So it's, it is, it may well be"},{"speaker":"Alan Smith","startTime":2935.74,"endTime":2939.6,"body":"worthwhile, but it's, I don't"},{"speaker":"Alan Smith","startTime":2939.6,"endTime":2941.3399999999997,"body":"think you can justify, I"},{"speaker":"Carl Widger","startTime":2941.3399999999997,"endTime":2944.04,"body":"know research"},{"speaker":"Carl Widger","startTime":2941.3399999999997,"endTime":2944.04,"body":"budgets a bunch a bunch of guys"},{"speaker":"Carl Widger","startTime":2944.04,"endTime":2947.64,"body":"here in Ireland who've decided"},{"speaker":"Carl Widger","startTime":2944.04,"endTime":2947.64,"body":"to do it themselves. So there's"},{"speaker":"Carl Widger","startTime":2947.64,"endTime":2949.74,"body":"kind of eight or 10 of them, and"},{"speaker":"Carl Widger","startTime":2947.64,"endTime":2949.74,"body":"they've come together, and"},{"speaker":"Carl Widger","startTime":2949.74,"endTime":2952.02,"body":"they've put a partnership"},{"speaker":"Carl Widger","startTime":2949.74,"endTime":2952.02,"body":"together, and they're basically"},{"speaker":"Carl Widger","startTime":2952.02,"endTime":2956.66,"body":"going into, it's more of a, I"},{"speaker":"Carl Widger","startTime":2952.02,"endTime":2956.66,"body":"suppose, a VC, kind of a startup"},{"speaker":"Carl Widger","startTime":2956.66,"endTime":2960.8599999999997,"body":"community that they've done"},{"speaker":"Carl Widger","startTime":2956.66,"endTime":2960.8599999999997,"body":"themselves, but in it is evolved"},{"speaker":"Carl Widger","startTime":2960.8599999999997,"endTime":2964.46,"body":"to existing businesses who are"},{"speaker":"Carl Widger","startTime":2960.8599999999997,"endTime":2964.46,"body":"trying to drive on, and they're"},{"speaker":"Carl Widger","startTime":2964.46,"endTime":2966.38,"body":"going, Yeah, we're back here"},{"speaker":"Carl Widger","startTime":2964.46,"endTime":2966.38,"body":"because we, like the people,"},{"speaker":"Alan Smith","startTime":2966.68,"endTime":2968.7799999999997,"body":"sure, that's a"},{"speaker":"Alan Smith","startTime":2966.68,"endTime":2968.7799999999997,"body":"slightly different conversation,"},{"speaker":"Alan Smith","startTime":2968.7799999999997,"endTime":2971.96,"body":"and it's true. And there are"},{"speaker":"Alan Smith","startTime":2968.7799999999997,"endTime":2971.96,"body":"people who invest in BCTs and"},{"speaker":"Alan Smith","startTime":2971.96,"endTime":2975.44,"body":"EIS in the UK, as I've always"},{"speaker":"Alan Smith","startTime":2971.96,"endTime":2975.44,"body":"said, like the way Angel"},{"speaker":"Alan Smith","startTime":2975.44,"endTime":2978.52,"body":"syndicate success, yeah, but as"},{"speaker":"Alan Smith","startTime":2975.44,"endTime":2978.52,"body":"always said on this if, and you"},{"speaker":"Alan Smith","startTime":2978.52,"endTime":2981.7599999999998,"body":"know, I had done in the past,"},{"speaker":"Alan Smith","startTime":2978.52,"endTime":2981.7599999999998,"body":"I've known a company and a"},{"speaker":"Alan Smith","startTime":2981.7599999999998,"endTime":2984.04,"body":"founder, or someone who's"},{"speaker":"Alan Smith","startTime":2981.7599999999998,"endTime":2984.04,"body":"running a business that's"},{"speaker":"Alan Smith","startTime":2984.04,"endTime":2987.2799999999997,"body":"raising money, and you do get a"},{"speaker":"Alan Smith","startTime":2984.04,"endTime":2987.2799999999997,"body":"useful tax break on it in the"},{"speaker":"Alan Smith","startTime":2987.2799999999997,"endTime":2989.74,"body":"UK, and I've thrown some"},{"speaker":"Alan Smith","startTime":2987.2799999999997,"endTime":2989.74,"body":"private, personal money at that."},{"speaker":"Alan Smith","startTime":2989.74,"endTime":2992.02,"body":"I know some of our clients do,"},{"speaker":"Alan Smith","startTime":2989.74,"endTime":2992.02,"body":"but that's taking the other way"},{"speaker":"Alan Smith","startTime":2992.02,"endTime":2994.72,"body":"around. That's not buying a"},{"speaker":"Alan Smith","startTime":2992.02,"endTime":2994.72,"body":"package of 50 or 100, 200"},{"speaker":"Alan Smith","startTime":2995.02,"endTime":2996.2999999999997,"body":"companies that I don't know, but"},{"speaker":"Carl Widger","startTime":2996.2999999999997,"endTime":2998.04,"body":"it's just, for me,"},{"speaker":"Carl Widger","startTime":2996.2999999999997,"endTime":2998.04,"body":"a student, a little bit"},{"speaker":"Carl Widger","startTime":2998.04,"endTime":3000.74,"body":"differently, and I can see that,"},{"speaker":"Carl Widger","startTime":2998.04,"endTime":3000.74,"body":"you know, if you were that would"},{"speaker":"Carl Widger","startTime":3000.74,"endTime":3004.22,"body":"give you, that would be really,"},{"speaker":"Carl Widger","startTime":3000.74,"endTime":3004.22,"body":"really interesting, if you're"},{"speaker":"Carl Widger","startTime":3004.22,"endTime":3007.7599999999998,"body":"into that kind of thing. So I"},{"speaker":"Carl Widger","startTime":3004.22,"endTime":3007.7599999999998,"body":"like that idea. I really do"},{"speaker":"Carl Widger","startTime":3007.8199999999997,"endTime":3013.7599999999998,"body":"anyway. It's, yeah, I think we"},{"speaker":"Carl Widger","startTime":3007.8199999999997,"endTime":3013.7599999999998,"body":"got a, you know, I nail on your"},{"speaker":"Carl Widger","startTime":3013.7599999999998,"endTime":3017.68,"body":"investment philosophy, because"},{"speaker":"Carl Widger","startTime":3013.7599999999998,"endTime":3017.68,"body":"for 95% of your clients, right?"},{"speaker":"Carl Widger","startTime":3017.68,"endTime":3021.16,"body":"Your, your, your bog standard"},{"speaker":"Carl Widger","startTime":3017.68,"endTime":3021.16,"body":"investor philosophy is going to"},{"speaker":"Carl Widger","startTime":3021.16,"endTime":3024.58,"body":"be okay. There may be other"},{"speaker":"Carl Widger","startTime":3021.16,"endTime":3024.58,"body":"clients, the wealthier clients,"},{"speaker":"Carl Widger","startTime":3024.58,"endTime":3027.22,"body":"the people who've come into a"},{"speaker":"Carl Widger","startTime":3024.58,"endTime":3027.22,"body":"lot of money, maybe they want a"},{"speaker":"Carl Widger","startTime":3027.22,"endTime":3030.3399999999997,"body":"little bit more. And maybe you"},{"speaker":"Carl Widger","startTime":3027.22,"endTime":3030.3399999999997,"body":"will introduce them to other"},{"speaker":"Carl Widger","startTime":3030.3399999999997,"endTime":3031.42,"body":"people who are doing"},{"speaker":"Alan Smith","startTime":3031.42,"endTime":3034.72,"body":"other things, as"},{"speaker":"Alan Smith","startTime":3031.42,"endTime":3034.72,"body":"Warren Buffett said, your"},{"speaker":"Alan Smith","startTime":3034.72,"endTime":3038.58,"body":"investment portfolio should be"},{"speaker":"Alan Smith","startTime":3034.72,"endTime":3038.58,"body":"like watching paint dry. If you"},{"speaker":"Alan Smith","startTime":3038.58,"endTime":3042.2999999999997,"body":"want excitement, take up"},{"speaker":"Alan Smith","startTime":3038.58,"endTime":3042.2999999999997,"body":"skydiving, talk computer with"},{"speaker":"Alan Smith","startTime":3042.2999999999997,"endTime":3044.8199999999997,"body":"your investment. And he has a"},{"speaker":"Alan Smith","startTime":3042.2999999999997,"endTime":3044.8199999999997,"body":"point. I think it'd"},{"speaker":"Carl Widger","startTime":3044.8199999999997,"endTime":3047.04,"body":"be easier to"},{"speaker":"Carl Widger","startTime":3044.8199999999997,"endTime":3047.04,"body":"skydive than watch the stock"},{"speaker":"Carl Widger","startTime":3047.04,"endTime":3048.12,"body":"market these days. With"},{"speaker":"Nick Lincoln","startTime":3048.72,"endTime":3052.8599999999997,"body":"that, I It's,"},{"speaker":"Nick Lincoln","startTime":3048.72,"endTime":3052.8599999999997,"body":"it's, it's tricky."},{"speaker":"Unknown","startTime":3054.18,"endTime":3055.02,"body":"Mr. Horns,"},{"speaker":"Nick Lincoln","startTime":3056.52,"endTime":3059.9,"body":"yeah, we're at 14."},{"speaker":"Nick Lincoln","startTime":3056.52,"endTime":3059.9,"body":"To quickly do your all"},{"speaker":"Nick Lincoln","startTime":3059.9,"endTime":3062.12,"body":"enrollment? Or should we hold it"},{"speaker":"Nick Lincoln","startTime":3059.9,"endTime":3062.12,"body":"forward to episode?"},{"speaker":"Carl Widger","startTime":3062.18,"endTime":3064.7599999999998,"body":"Yeah. Well, look"},{"speaker":"Carl Widger","startTime":3062.18,"endTime":3064.7599999999998,"body":"very quickly auto enrollment is"},{"speaker":"Carl Widger","startTime":3064.8199999999997,"endTime":3066.02,"body":"auto enrollment. Contain"},{"speaker":"Andy Hart","startTime":3066.02,"endTime":3067.2799999999997,"body":"the excitement to a"},{"speaker":"Andy Hart","startTime":3066.02,"endTime":3067.2799999999997,"body":"future"},{"speaker":"Carl Widger","startTime":3069.14,"endTime":3071.96,"body":"episode. Basically,"},{"speaker":"Carl Widger","startTime":3069.14,"endTime":3071.96,"body":"there's tons and tons of"},{"speaker":"Carl Widger","startTime":3071.96,"endTime":3074.3599999999997,"body":"advisors here who are setting"},{"speaker":"Carl Widger","startTime":3071.96,"endTime":3074.3599999999997,"body":"themselves up for auto"},{"speaker":"Carl Widger","startTime":3074.48,"endTime":3077.44,"body":"enrollment. Here we go. I. Then"},{"speaker":"Carl Widger","startTime":3074.48,"endTime":3077.44,"body":"the government have just said,"},{"speaker":"Carl Widger","startTime":3077.44,"endTime":3081.88,"body":"Oh, we're going to postpone that"},{"speaker":"Carl Widger","startTime":3077.44,"endTime":3081.88,"body":"again for about the 48th time."},{"speaker":"Carl Widger","startTime":3081.94,"endTime":3083.02,"body":"And it's like, what's"},{"speaker":"Nick Lincoln","startTime":3083.02,"endTime":3084.64,"body":"the what's the"},{"speaker":"Nick Lincoln","startTime":3083.02,"endTime":3084.64,"body":"reasoning? What's the general"},{"speaker":"Nick Lincoln","startTime":3084.64,"endTime":3086.98,"body":"reason for this? With Parents, I"},{"speaker":"Carl Widger","startTime":3086.98,"endTime":3088.6,"body":"don't really know."},{"speaker":"Carl Widger","startTime":3086.98,"endTime":3088.6,"body":"I think they're struggling to"},{"speaker":"Carl Widger","startTime":3088.6,"endTime":3091.3599999999997,"body":"get providers in. They're"},{"speaker":"Carl Widger","startTime":3088.6,"endTime":3091.3599999999997,"body":"struggling to find out who's or"},{"speaker":"Carl Widger","startTime":3091.3599999999997,"endTime":3094.66,"body":"to to kind of establish who's"},{"speaker":"Carl Widger","startTime":3091.3599999999997,"endTime":3094.66,"body":"going to provide the funds. But"},{"speaker":"Carl Widger","startTime":3094.66,"endTime":3098.88,"body":"that's kind of me surmising, I"},{"speaker":"Carl Widger","startTime":3094.66,"endTime":3098.88,"body":"charges, you know, can you put"},{"speaker":"Carl Widger","startTime":3098.88,"endTime":3101.16,"body":"eggs and penalties, all of this"},{"speaker":"Carl Widger","startTime":3098.88,"endTime":3101.16,"body":"kind of stuff? Is it through"},{"speaker":"Carl Widger","startTime":3101.16,"endTime":3104.46,"body":"master? There's loads of stuff."},{"speaker":"Carl Widger","startTime":3101.16,"endTime":3104.46,"body":"We don't do it, so it's not"},{"speaker":"Carl Widger","startTime":3104.46,"endTime":3107.22,"body":"affecting us. But I can see"},{"speaker":"Carl Widger","startTime":3104.46,"endTime":3107.22,"body":"people are like, you know, this"},{"speaker":"Carl Widger","startTime":3107.22,"endTime":3109.56,"body":"is, they're, they're waiting and"},{"speaker":"Carl Widger","startTime":3107.22,"endTime":3109.56,"body":"waiting and waiting. There's"},{"speaker":"Carl Widger","startTime":3109.56,"endTime":3111.9,"body":"going to be the bravy train"},{"speaker":"Carl Widger","startTime":3109.56,"endTime":3111.9,"body":"they're jumping on. And it's"},{"speaker":"Carl Widger","startTime":3111.9,"endTime":3112.5,"body":"like, Hmm,"},{"speaker":"Andy Hart","startTime":3113.3399999999997,"endTime":3116.4,"body":"to come into force."},{"speaker":"Andy Hart","startTime":3113.3399999999997,"endTime":3116.4,"body":"Carl, the first deadline. Oh,"},{"speaker":"Carl Widger","startTime":3117.1189999999997,"endTime":3119.1189999999997,"body":"probably two years"},{"speaker":"Carl Widger","startTime":3117.1189999999997,"endTime":3119.1189999999997,"body":"ago. I would say that's a guess,"},{"speaker":"Carl Widger","startTime":3119.1189999999997,"endTime":3120.259,"body":"right? Because two years"},{"speaker":"Andy Hart","startTime":3120.2599999999998,"endTime":3122.8399999999997,"body":"ago was 2020 sorry,"},{"speaker":"Andy Hart","startTime":3120.2599999999998,"endTime":3122.8399999999997,"body":"yeah, the first deadline was"},{"speaker":"Andy Hart","startTime":3122.8399999999997,"endTime":3125.72,"body":"2022 or something like that. And"},{"speaker":"Andy Hart","startTime":3122.8399999999997,"endTime":3125.72,"body":"then when was it meant coming"},{"speaker":"Andy Hart","startTime":3125.72,"endTime":3126.92,"body":"again, September,"},{"speaker":"Carl Widger","startTime":3126.98,"endTime":3132.92,"body":"October, 2025 Yeah,"},{"speaker":"Carl Widger","startTime":3126.98,"endTime":3132.92,"body":"and not given, uh, definition as"},{"speaker":"Carl Widger","startTime":3132.92,"endTime":3133.16,"body":"soon"},{"speaker":"Andy Hart","startTime":3133.22,"endTime":3134.9,"body":"just a freaking"},{"speaker":"Andy Hart","startTime":3133.22,"endTime":3134.9,"body":"nightmare, the amount of"},{"speaker":"Andy Hart","startTime":3134.9,"endTime":3138.52,"body":"companies that have wasted time,"},{"speaker":"Andy Hart","startTime":3134.9,"endTime":3138.52,"body":"effort, energy systems, to get"},{"speaker":"Andy Hart","startTime":3138.52,"endTime":3141.4,"body":"all that ready, and then they"},{"speaker":"Andy Hart","startTime":3138.52,"endTime":3141.4,"body":"just put surely again. They"},{"speaker":"Andy Hart","startTime":3141.4,"endTime":3144.64,"body":"could just clone what the UK"},{"speaker":"Andy Hart","startTime":3141.4,"endTime":3144.64,"body":"did. Like UK"},{"speaker":"Nick Lincoln","startTime":3144.64,"endTime":3146.74,"body":"did, I was gonna"},{"speaker":"Nick Lincoln","startTime":3144.64,"endTime":3146.74,"body":"say that, and instinctively, I'm"},{"speaker":"Nick Lincoln","startTime":3146.74,"endTime":3149.5,"body":"not a fan of auto enrollment,"},{"speaker":"Nick Lincoln","startTime":3146.74,"endTime":3149.5,"body":"but it has been introduced in"},{"speaker":"Nick Lincoln","startTime":3149.5,"endTime":3153.22,"body":"this country, what, 10 years or"},{"speaker":"Nick Lincoln","startTime":3149.5,"endTime":3153.22,"body":"so ago, and it's been a success."},{"speaker":"Nick Lincoln","startTime":3153.22,"endTime":3156.16,"body":"And there's like we had to do it"},{"speaker":"Nick Lincoln","startTime":3153.22,"endTime":3156.16,"body":"kind of in the dark, treading"},{"speaker":"Nick Lincoln","startTime":3156.16,"endTime":3159.18,"body":"through it and get things set we"},{"speaker":"Nick Lincoln","startTime":3156.16,"endTime":3159.18,"body":"as the UK, you know, the life"},{"speaker":"Nick Lincoln","startTime":3159.18,"endTime":3162.06,"body":"insurance companies and the"},{"speaker":"Nick Lincoln","startTime":3159.18,"endTime":3162.06,"body":"payroll and everything else, and"},{"speaker":"Nick Lincoln","startTime":3162.06,"endTime":3164.04,"body":"we've done it. And you think,"},{"speaker":"Nick Lincoln","startTime":3162.06,"endTime":3164.04,"body":"well, there you go, on. Just"},{"speaker":"Nick Lincoln","startTime":3164.04,"endTime":3168.2999999999997,"body":"take our model and sort of just,"},{"speaker":"Nick Lincoln","startTime":3164.04,"endTime":3168.2999999999997,"body":"it's part bait, just stick it in"},{"speaker":"Nick Lincoln","startTime":3168.2999999999997,"endTime":3170.2799999999997,"body":"the oven, and off you go. So"},{"speaker":"Nick Lincoln","startTime":3168.2999999999997,"endTime":3170.2799999999997,"body":"Nick"},{"speaker":"Andy Hart","startTime":3170.2799999999997,"endTime":3172.68,"body":"or Alan, can you"},{"speaker":"Andy Hart","startTime":3170.2799999999997,"endTime":3172.68,"body":"remember? Was it postponed, or"},{"speaker":"Andy Hart","startTime":3172.74,"endTime":3175.5,"body":"did it launch on the date? I"},{"speaker":"Andy Hart","startTime":3172.74,"endTime":3175.5,"body":"think it launched on the date. I"},{"speaker":"Andy Hart","startTime":3175.5,"endTime":3175.7999999999997,"body":"think"},{"speaker":"Nick Lincoln","startTime":3175.7999999999997,"endTime":3177.68,"body":"it launched on the"},{"speaker":"Nick Lincoln","startTime":3175.7999999999997,"endTime":3177.68,"body":"date with a very soft launch, so"},{"speaker":"Nick Lincoln","startTime":3177.68,"endTime":3180.56,"body":"loads of is the bigger firms"},{"speaker":"Nick Lincoln","startTime":3177.68,"endTime":3180.56,"body":"first, wasn't"},{"speaker":"Unknown","startTime":3181.64,"endTime":3182.8399999999997,"body":"it? So it"},{"speaker":"Nick Lincoln","startTime":3183.92,"endTime":3187.2799999999997,"body":"was just 1% and 1%"},{"speaker":"Nick Lincoln","startTime":3183.92,"endTime":3187.2799999999997,"body":"and then it became firms with"},{"speaker":"Nick Lincoln","startTime":3187.2799999999997,"endTime":3191.06,"body":"200 employees within that. So"},{"speaker":"Nick Lincoln","startTime":3187.2799999999997,"endTime":3191.06,"body":"they soft launched it, which,"},{"speaker":"Nick Lincoln","startTime":3191.06,"endTime":3191.7799999999997,"body":"which is"},{"speaker":"Andy Hart","startTime":3191.7799999999997,"endTime":3194.3599999999997,"body":"really good car, once"},{"speaker":"Andy Hart","startTime":3191.7799999999997,"endTime":3194.3599999999997,"body":"it gets going in Ireland, and"},{"speaker":"Andy Hart","startTime":3194.3599999999997,"endTime":3196.8399999999997,"body":"people get, like, comfortable"},{"speaker":"Andy Hart","startTime":3194.3599999999997,"endTime":3196.8399999999997,"body":"with it, and they see their"},{"speaker":"Andy Hart","startTime":3197.74,"endTime":3200.38,"body":"initial amount come out of their"},{"speaker":"Andy Hart","startTime":3197.74,"endTime":3200.38,"body":"salary. They go, where the hell"},{"speaker":"Andy Hart","startTime":3200.38,"endTime":3202.8399999999997,"body":"is this going to then they get a"},{"speaker":"Andy Hart","startTime":3200.38,"endTime":3202.8399999999997,"body":"first statement says, Oh, I've"},{"speaker":"Andy Hart","startTime":3202.8399999999997,"endTime":3205.0,"body":"got 3000 pounds. They get"},{"speaker":"Andy Hart","startTime":3202.8399999999997,"endTime":3205.0,"body":"another statement, 10,000"},{"speaker":"Andy Hart","startTime":3205.6,"endTime":3207.46,"body":"pounds. It really does"},{"speaker":"Andy Hart","startTime":3205.6,"endTime":3207.46,"body":"incentivize"},{"speaker":"Carl Widger","startTime":3207.88,"endTime":3210.22,"body":"an investigation. I"},{"speaker":"Carl Widger","startTime":3207.88,"endTime":3210.22,"body":"suppose. My thing is, you know,"},{"speaker":"Carl Widger","startTime":3210.22,"endTime":3213.2799999999997,"body":"if you want to do what we're"},{"speaker":"Carl Widger","startTime":3210.22,"endTime":3213.2799999999997,"body":"doing, which is financial"},{"speaker":"Carl Widger","startTime":3213.2799999999997,"endTime":3216.2799999999997,"body":"planning for individuals and"},{"speaker":"Carl Widger","startTime":3213.2799999999997,"endTime":3216.2799999999997,"body":"families, right, it's a totally"},{"speaker":"Carl Widger","startTime":3216.2799999999997,"endTime":3222.24,"body":"different business, then I'm"},{"speaker":"Carl Widger","startTime":3216.2799999999997,"endTime":3222.24,"body":"trying to do both. I think you"},{"speaker":"Carl Widger","startTime":3222.24,"endTime":3222.48,"body":"just"},{"speaker":"Nick Lincoln","startTime":3223.68,"endTime":3225.18,"body":"that's all, mate,"},{"speaker":"Nick Lincoln","startTime":3223.68,"endTime":3225.18,"body":"no, I'm not. No, no, no. I'm"},{"speaker":"Nick Lincoln","startTime":3225.18,"endTime":3227.7,"body":"just saying mass the UK"},{"speaker":"Nick Lincoln","startTime":3225.18,"endTime":3227.7,"body":"financial services and the"},{"speaker":"Nick Lincoln","startTime":3227.7,"endTime":3230.22,"body":"regulator and the government"},{"speaker":"Nick Lincoln","startTime":3227.7,"endTime":3230.22,"body":"launched it pretty well in this"},{"speaker":"Nick Lincoln","startTime":3230.22,"endTime":3232.74,"body":"country, but as a lifestyle,"},{"speaker":"Nick Lincoln","startTime":3230.22,"endTime":3232.74,"body":"financial planning focused"},{"speaker":"Nick Lincoln","startTime":3232.74,"endTime":3235.02,"body":"business, which we all are, too."},{"speaker":"Nick Lincoln","startTime":3232.74,"endTime":3235.02,"body":"I know some of us are more"},{"speaker":"Nick Lincoln","startTime":3235.2599999999998,"endTime":3237.8599999999997,"body":"aspirational, but we're not."},{"speaker":"Nick Lincoln","startTime":3235.2599999999998,"endTime":3237.8599999999997,"body":"It's a it's a completely"},{"speaker":"Nick Lincoln","startTime":3237.8599999999997,"endTime":3241.1,"body":"different game. It's a complete"},{"speaker":"Nick Lincoln","startTime":3237.8599999999997,"endTime":3241.1,"body":"process. Admin, you won't have"},{"speaker":"Nick Lincoln","startTime":3241.1,"endTime":3242.3599999999997,"body":"one to one conversation with"},{"speaker":"Unknown","startTime":3242.899,"endTime":3245.5989999999997,"body":"it's it's payroll."},{"speaker":"Unknown","startTime":3242.899,"endTime":3245.5989999999997,"body":"Payroll. Yes, that's exactly"},{"speaker":"Alan Smith","startTime":3245.6,"endTime":3247.46,"body":"what I was going to"},{"speaker":"Alan Smith","startTime":3245.6,"endTime":3247.46,"body":"say. It's the tech that sits"},{"speaker":"Alan Smith","startTime":3247.46,"endTime":3249.56,"body":"behind the payroll. It's just,"},{"speaker":"Alan Smith","startTime":3247.46,"endTime":3249.56,"body":"you need to know what you're"},{"speaker":"Alan Smith","startTime":3249.56,"endTime":3252.7999999999997,"body":"doing with that and understand"},{"speaker":"Alan Smith","startTime":3249.56,"endTime":3252.7999999999997,"body":"all those systems we used to,"},{"speaker":"Alan Smith","startTime":3252.7999999999997,"endTime":3256.4,"body":"back in the day, do corporate"},{"speaker":"Alan Smith","startTime":3252.7999999999997,"endTime":3256.4,"body":"with corporate pensions or not,"},{"speaker":"Alan Smith","startTime":3256.58,"endTime":3260.44,"body":"like we used to use first start"},{"speaker":"Alan Smith","startTime":3256.58,"endTime":3260.44,"body":"off, did everything, you know,"},{"speaker":"Alan Smith","startTime":3260.44,"endTime":3263.08,"body":"private medical"},{"speaker":"Unknown","startTime":3263.5,"endTime":3265.7799999999997,"body":"insurance? Yeah, bit by"},{"speaker":"Unknown","startTime":3263.5,"endTime":3265.7799999999997,"body":"bit,"},{"speaker":"Alan Smith","startTime":3265.7799999999997,"endTime":3268.66,"body":"you said, Actually"},{"speaker":"Alan Smith","startTime":3265.7799999999997,"endTime":3268.66,"body":"our small corporate pensions"},{"speaker":"Alan Smith","startTime":3268.9,"endTime":3271.3599999999997,"body":"book was actually quite"},{"speaker":"Alan Smith","startTime":3268.9,"endTime":3271.3599999999997,"body":"profitable and quite quite good,"},{"speaker":"Alan Smith","startTime":3271.3599999999997,"endTime":3274.48,"body":"quite useful, quite nice to get."},{"speaker":"Alan Smith","startTime":3271.3599999999997,"endTime":3274.48,"body":"Like, you know, 50 man, 80 man"},{"speaker":"Alan Smith","startTime":3274.6,"endTime":3277.2599999999998,"body":"pension scheme, but eventually"},{"speaker":"Alan Smith","startTime":3274.6,"endTime":3277.2599999999998,"body":"you got to sell some 80 person,"},{"speaker":"Alan Smith","startTime":3277.44,"endTime":3278.7599999999998,"body":"yeah, yes, no, not"},{"speaker":"Nick Lincoln","startTime":3278.7599999999998,"endTime":3280.2599999999998,"body":"anymore. 80. Man"},{"speaker":"Nick Lincoln","startTime":3278.7599999999998,"endTime":3280.2599999999998,"body":"and a woman"},{"speaker":"Alan Smith","startTime":3281.7,"endTime":3287.3399999999997,"body":"do not, do not go"},{"speaker":"Alan Smith","startTime":3281.7,"endTime":3287.3399999999997,"body":"there. Now, really, really,"},{"speaker":"Alan Smith","startTime":3287.8199999999997,"endTime":3291.6,"body":"really important to know it is a"},{"speaker":"Alan Smith","startTime":3287.8199999999997,"endTime":3291.6,"body":"different business, and you"},{"speaker":"Alan Smith","startTime":3291.6,"endTime":3292.44,"body":"can't. And my"},{"speaker":"Carl Widger","startTime":3292.44,"endTime":3295.14,"body":"point is, there are"},{"speaker":"Carl Widger","startTime":3292.44,"endTime":3295.14,"body":"a lot of my peers in the Irish"},{"speaker":"Carl Widger","startTime":3295.14,"endTime":3298.22,"body":"market who are saying they're"},{"speaker":"Carl Widger","startTime":3295.14,"endTime":3298.22,"body":"going to do both. And I"},{"speaker":"Alan Smith","startTime":3298.4,"endTime":3300.8599999999997,"body":"can if you set up"},{"speaker":"Alan Smith","startTime":3298.4,"endTime":3300.8599999999997,"body":"another department, division or"},{"speaker":"Alan Smith","startTime":3300.8599999999997,"endTime":3301.22,"body":"something"},{"speaker":"Carl Widger","startTime":3301.2799999999997,"endTime":3304.3399999999997,"body":"really small,"},{"speaker":"Carl Widger","startTime":3301.2799999999997,"endTime":3304.3399999999997,"body":"really small businesses, I don't"},{"speaker":"Carl Widger","startTime":3304.3399999999997,"endTime":3306.38,"body":"know that you can do it, but,"},{"speaker":"Carl Widger","startTime":3304.3399999999997,"endTime":3306.38,"body":"but look so"},{"speaker":"Andy Hart","startTime":3307.2799999999997,"endTime":3310.7599999999998,"body":"it sounds like it's"},{"speaker":"Andy Hart","startTime":3307.2799999999997,"endTime":3310.7599999999998,"body":"so September 2025 was when it"},{"speaker":"Andy Hart","startTime":3310.7599999999998,"endTime":3313.2799999999997,"body":"went meant to be when it re,"},{"speaker":"Andy Hart","startTime":3310.7599999999998,"endTime":3313.2799999999997,"body":"launched again. So it sounds"},{"speaker":"Andy Hart","startTime":3313.2799999999997,"endTime":3317.2599999999998,"body":"like it's going to be 20 early"},{"speaker":"Andy Hart","startTime":3313.2799999999997,"endTime":3317.2599999999998,"body":"27 or something cold, ages down"},{"speaker":"Andy Hart","startTime":3317.2599999999998,"endTime":3317.68,"body":"the line"},{"speaker":"Carl Widger","startTime":3317.98,"endTime":3321.88,"body":"having a clue, but"},{"speaker":"Carl Widger","startTime":3317.98,"endTime":3321.88,"body":"you gotta get the product"},{"speaker":"Alan Smith","startTime":3321.88,"endTime":3324.04,"body":"providers to play"},{"speaker":"Alan Smith","startTime":3321.88,"endTime":3324.04,"body":"ball, because the whole point is"},{"speaker":"Alan Smith","startTime":3324.04,"endTime":3326.44,"body":"to keep it super low cost, and"},{"speaker":"Alan Smith","startTime":3324.04,"endTime":3326.44,"body":"they're gonna work out with"},{"speaker":"Alan Smith","startTime":3326.44,"endTime":3329.44,"body":"their margin, how they're gonna"},{"speaker":"Alan Smith","startTime":3326.44,"endTime":3329.44,"body":"make money, how many people"},{"speaker":"Andy Hart","startTime":3329.8599999999997,"endTime":3332.14,"body":"are gonna roll the"},{"speaker":"Andy Hart","startTime":3329.8599999999997,"endTime":3332.14,"body":"bulk of auto enrollment in the"},{"speaker":"Andy Hart","startTime":3332.14,"endTime":3334.9,"body":"UK, and is with Nest, I believe."},{"speaker":"Andy Hart","startTime":3332.14,"endTime":3334.9,"body":"I don't know what percentage,"},{"speaker":"Andy Hart","startTime":3334.9,"endTime":3337.98,"body":"but I reckon this is a complete"},{"speaker":"Andy Hart","startTime":3334.9,"endTime":3337.98,"body":"separate company called set up"},{"speaker":"Andy Hart","startTime":3337.98,"endTime":3341.64,"body":"by the government. It's like a"},{"speaker":"Andy Hart","startTime":3337.98,"endTime":3341.64,"body":"government pension company that"},{"speaker":"Andy Hart","startTime":3341.64,"endTime":3344.8199999999997,"body":"invests the money directly and"},{"speaker":"Andy Hart","startTime":3341.64,"endTime":3344.8199999999997,"body":"has, like an investment analysis"},{"speaker":"Andy Hart","startTime":3344.8199999999997,"endTime":3347.88,"body":"team and things like that. I"},{"speaker":"Andy Hart","startTime":3344.8199999999997,"endTime":3347.88,"body":"think they've probably got 75%"},{"speaker":"Andy Hart","startTime":3348.42,"endTime":3351.06,"body":"of the money from auto"},{"speaker":"Andy Hart","startTime":3348.42,"endTime":3351.06,"body":"enrollment. So, yeah, I suppose"},{"speaker":"Andy Hart","startTime":3351.06,"endTime":3351.18,"body":"you"},{"speaker":"Nick Lincoln","startTime":3351.18,"endTime":3353.46,"body":"could imagine the"},{"speaker":"Nick Lincoln","startTime":3351.18,"endTime":3353.46,"body":"numbers nest initially, and"},{"speaker":"Nick Lincoln","startTime":3353.46,"endTime":3356.54,"body":"probably still is burning cash,"},{"speaker":"Nick Lincoln","startTime":3353.46,"endTime":3356.54,"body":"but in 2030, years, they'll be"},{"speaker":"Nick Lincoln","startTime":3356.54,"endTime":3359.66,"body":"sat on billions of AUM, you"},{"speaker":"Nick Lincoln","startTime":3356.54,"endTime":3359.66,"body":"know. But I guess you're dealing"},{"speaker":"Nick Lincoln","startTime":3359.66,"endTime":3363.3199999999997,"body":"with Mr. And Mrs. Miggins paying"},{"speaker":"Nick Lincoln","startTime":3359.66,"endTime":3363.3199999999997,"body":"their 3% on a salary of 15,000"},{"speaker":"Nick Lincoln","startTime":3363.98,"endTime":3367.52,"body":"euros or Sterling a year, you"},{"speaker":"Nick Lincoln","startTime":3363.98,"endTime":3367.52,"body":"know. And it's like most life"},{"speaker":"Nick Lincoln","startTime":3367.52,"endTime":3371.0,"body":"insurance companies, most like I"},{"speaker":"Nick Lincoln","startTime":3367.52,"endTime":3371.0,"body":"faced old style Neil Bob,"},{"speaker":"Nick Lincoln","startTime":3371.0,"endTime":3371.54,"body":"apparently."},{"speaker":"Andy Hart","startTime":3372.62,"endTime":3374.54,"body":"Well, sorry, Nick,"},{"speaker":"Andy Hart","startTime":3372.62,"endTime":3374.54,"body":"apparently, they've got 45"},{"speaker":"Andy Hart","startTime":3374.7799999999997,"endTime":3378.1,"body":"billion AUM at the moment. 45"},{"speaker":"Andy Hart","startTime":3374.7799999999997,"endTime":3378.1,"body":"billion AU, ever next? Okay,"},{"speaker":"Nick Lincoln","startTime":3378.0989999999997,"endTime":3380.679,"body":"so imagine what"},{"speaker":"Nick Lincoln","startTime":3378.0989999999997,"endTime":3380.679,"body":"that's 450 in just in a blink of"},{"speaker":"Nick Lincoln","startTime":3380.679,"endTime":3381.939,"body":"an eye time, in"},{"speaker":"Unknown","startTime":3382.06,"endTime":3383.3199999999997,"body":"terms of"},{"speaker":"Nick Lincoln","startTime":3384.16,"endTime":3386.7999999999997,"body":"gravity, talked"},{"speaker":"Nick Lincoln","startTime":3384.16,"endTime":3386.7999999999997,"body":"about that was that was well"},{"speaker":"Nick Lincoln","startTime":3386.92,"endTime":3389.5,"body":"worth finishing off the topical"},{"speaker":"Nick Lincoln","startTime":3386.92,"endTime":3389.5,"body":"tidbits. And I'm guessing that"},{"speaker":"Nick Lincoln","startTime":3389.5,"endTime":3393.7,"body":"we're about 54 minutes into"},{"speaker":"Nick Lincoln","startTime":3389.5,"endTime":3393.7,"body":"Episode swas on nerf of the real"},{"speaker":"Nick Lincoln","startTime":3393.7,"endTime":3400.56,"body":"advisor podcast. Let's move on"},{"speaker":"Nick Lincoln","startTime":3393.7,"endTime":3400.56,"body":"to what many people are also"},{"speaker":"Nick Lincoln","startTime":3400.56,"endTime":3404.3399999999997,"body":"calling the meat and potatoes of"},{"speaker":"Nick Lincoln","startTime":3400.56,"endTime":3404.3399999999997,"body":"the show. And this is an"},{"speaker":"Nick Lincoln","startTime":3404.3399999999997,"endTime":3408.24,"body":"interesting one. This one"},{"speaker":"Nick Lincoln","startTime":3404.3399999999997,"endTime":3408.24,"body":"because this is a, yeah, this is"},{"speaker":"Nick Lincoln","startTime":3408.24,"endTime":3412.5,"body":"a, this is an area where I"},{"speaker":"Nick Lincoln","startTime":3408.24,"endTime":3412.5,"body":"certainly, I can be quite"},{"speaker":"Nick Lincoln","startTime":3412.5,"endTime":3414.66,"body":"dogmatic, I know, and I like"},{"speaker":"Nick Lincoln","startTime":3412.5,"endTime":3414.66,"body":"things to be black and white."},{"speaker":"Nick Lincoln","startTime":3414.72,"endTime":3417.02,"body":"This area, for me, is not black"},{"speaker":"Nick Lincoln","startTime":3414.72,"endTime":3417.02,"body":"and white, and white. And I've"},{"speaker":"Nick Lincoln","startTime":3417.02,"endTime":3419.7799999999997,"body":"got some conundrums going on the"},{"speaker":"Nick Lincoln","startTime":3417.02,"endTime":3419.7799999999997,"body":"minute, the couples conundrum,"},{"speaker":"Nick Lincoln","startTime":3419.7799999999997,"endTime":3422.7799999999997,"body":"the couples conundrum. And that"},{"speaker":"Nick Lincoln","startTime":3419.7799999999997,"endTime":3422.7799999999997,"body":"could cover a multitude of sins."},{"speaker":"Nick Lincoln","startTime":3422.7799999999997,"endTime":3425.42,"body":"It could be that you've got a"},{"speaker":"Nick Lincoln","startTime":3422.7799999999997,"endTime":3425.42,"body":"couple in your business, and"},{"speaker":"Nick Lincoln","startTime":3425.42,"endTime":3427.7,"body":"you've had them from day one,"},{"speaker":"Nick Lincoln","startTime":3425.42,"endTime":3427.7,"body":"husband and wife, he and she,"},{"speaker":"Nick Lincoln","startTime":3427.7,"endTime":3430.04,"body":"whatever, but you've always,"},{"speaker":"Nick Lincoln","startTime":3427.7,"endTime":3430.04,"body":"never clicked with one of them,"},{"speaker":"Nick Lincoln","startTime":3430.04,"endTime":3432.2599999999998,"body":"or one that doesn't turn up for"},{"speaker":"Nick Lincoln","startTime":3430.04,"endTime":3432.2599999999998,"body":"meetings. It could be another"},{"speaker":"Nick Lincoln","startTime":3432.2599999999998,"endTime":3434.66,"body":"sort of conundrum where you've"},{"speaker":"Nick Lincoln","startTime":3432.2599999999998,"endTime":3434.66,"body":"worked with someone who's been"},{"speaker":"Nick Lincoln","startTime":3434.66,"endTime":3436.9,"body":"on their own, and then has"},{"speaker":"Nick Lincoln","startTime":3434.66,"endTime":3436.9,"body":"someone come into their life,"},{"speaker":"Nick Lincoln","startTime":3436.9,"endTime":3439.24,"body":"and the relationship forms,"},{"speaker":"Nick Lincoln","startTime":3436.9,"endTime":3439.24,"body":"you've always got on with the"},{"speaker":"Nick Lincoln","startTime":3439.24,"endTime":3441.4,"body":"person who's been in your"},{"speaker":"Nick Lincoln","startTime":3439.24,"endTime":3441.4,"body":"business as a client, but the"},{"speaker":"Nick Lincoln","startTime":3441.4,"endTime":3444.2799999999997,"body":"new person you know. You don't"},{"speaker":"Nick Lincoln","startTime":3441.4,"endTime":3444.2799999999997,"body":"know them from Adam. They've"},{"speaker":"Nick Lincoln","startTime":3444.2799999999997,"endTime":3446.7999999999997,"body":"never been through the cash flow"},{"speaker":"Nick Lincoln","startTime":3444.2799999999997,"endTime":3446.7999999999997,"body":"modeling. You may not personally"},{"speaker":"Nick Lincoln","startTime":3446.7999999999997,"endTime":3448.8399999999997,"body":"take to them. There might be"},{"speaker":"Nick Lincoln","startTime":3446.7999999999997,"endTime":3448.8399999999997,"body":"someone who, if you, if they"},{"speaker":"Nick Lincoln","startTime":3448.8399999999997,"endTime":3450.8199999999997,"body":"come to you as a couple,"},{"speaker":"Nick Lincoln","startTime":3448.8399999999997,"endTime":3450.8199999999997,"body":"originally, you might have said,"},{"speaker":"Nick Lincoln","startTime":3450.8199999999997,"endTime":3453.3399999999997,"body":"You know what, I don't think"},{"speaker":"Nick Lincoln","startTime":3450.8199999999997,"endTime":3453.3399999999997,"body":"this is going to work out. And"},{"speaker":"Nick Lincoln","startTime":3453.64,"endTime":3456.2799999999997,"body":"then you've got the for me, the"},{"speaker":"Nick Lincoln","startTime":3453.64,"endTime":3456.2799999999997,"body":"third leg of this stall is where"},{"speaker":"Nick Lincoln","startTime":3456.2799999999997,"endTime":3459.0,"body":"you're taking on the client, the"},{"speaker":"Nick Lincoln","startTime":3456.2799999999997,"endTime":3459.0,"body":"client, the children of clients,"},{"speaker":"Nick Lincoln","startTime":3459.0,"endTime":3462.66,"body":"clients you love, and you're"},{"speaker":"Nick Lincoln","startTime":3459.0,"endTime":3462.66,"body":"taking on their children, which"},{"speaker":"Nick Lincoln","startTime":3462.66,"endTime":3465.12,"body":"you want to do really, if you"},{"speaker":"Nick Lincoln","startTime":3462.66,"endTime":3465.12,"body":"want to just protect yourself"},{"speaker":"Nick Lincoln","startTime":3465.12,"endTime":3468.24,"body":"from this cascading of worth"},{"speaker":"Nick Lincoln","startTime":3465.12,"endTime":3468.24,"body":"going away somewhere and but"},{"speaker":"Nick Lincoln","startTime":3468.24,"endTime":3470.8199999999997,"body":"that doesn't always work out as"},{"speaker":"Nick Lincoln","startTime":3468.24,"endTime":3470.8199999999997,"body":"well. Then you're in this tricky"},{"speaker":"Nick Lincoln","startTime":3470.8199999999997,"endTime":3473.46,"body":"situation where you've got the"},{"speaker":"Nick Lincoln","startTime":3470.8199999999997,"endTime":3473.46,"body":"clients are obviously the"},{"speaker":"Nick Lincoln","startTime":3473.46,"endTime":3476.16,"body":"parents of this person. You're"},{"speaker":"Nick Lincoln","startTime":3473.46,"endTime":3476.16,"body":"going to probably have to sack"},{"speaker":"Nick Lincoln","startTime":3476.16,"endTime":3479.8399999999997,"body":"off and just as there are loads"},{"speaker":"Nick Lincoln","startTime":3476.16,"endTime":3479.8399999999997,"body":"of things around this, so Ultra"},{"speaker":"Nick Lincoln","startTime":3479.8399999999997,"endTime":3484.3399999999997,"body":"introduced this subject to the"},{"speaker":"Nick Lincoln","startTime":3479.8399999999997,"endTime":3484.3399999999997,"body":"agenda for this episode, and"},{"speaker":"Nick Lincoln","startTime":3484.3399999999997,"endTime":3486.7999999999997,"body":"ultra will be the good old chat"},{"speaker":"Nick Lincoln","startTime":3484.3399999999997,"endTime":3486.7999999999997,"body":"to kick it off."},{"speaker":"Andy Hart","startTime":3487.819,"endTime":3490.0389999999998,"body":"I'm pleased you said"},{"speaker":"Andy Hart","startTime":3487.819,"endTime":3490.0389999999998,"body":"this is an interesting subject,"},{"speaker":"Andy Hart","startTime":3490.0389999999998,"endTime":3492.0789999999997,"body":"because when I brought it up,"},{"speaker":"Andy Hart","startTime":3490.0389999999998,"endTime":3492.0789999999997,"body":"you shot me down. No, I"},{"speaker":"Nick Lincoln","startTime":3492.08,"endTime":3495.74,"body":"didn't. I actually"},{"speaker":"Nick Lincoln","startTime":3492.08,"endTime":3495.74,"body":"supported you for once, Ultra,"},{"speaker":"Nick Lincoln","startTime":3495.74,"endTime":3496.16,"body":"so don't"},{"speaker":"Andy Hart","startTime":3496.16,"endTime":3500.14,"body":"work. I had one"},{"speaker":"Andy Hart","startTime":3496.16,"endTime":3500.14,"body":"supporting vote that time. Okay,"},{"speaker":"Andy Hart","startTime":3500.14,"endTime":3503.38,"body":"so this is, this is, I think,"},{"speaker":"Andy Hart","startTime":3500.14,"endTime":3503.38,"body":"quite an interesting challenge"},{"speaker":"Andy Hart","startTime":3503.38,"endTime":3506.3199999999997,"body":"that often financial advisors"},{"speaker":"Andy Hart","startTime":3503.38,"endTime":3506.3199999999997,"body":"and firms have to have to have"},{"speaker":"Andy Hart","startTime":3506.3199999999997,"endTime":3509.7999999999997,"body":"to straddle. I had a quick look"},{"speaker":"Andy Hart","startTime":3506.3199999999997,"endTime":3509.7999999999997,"body":"before we kicked off. So two"},{"speaker":"Andy Hart","startTime":3509.7999999999997,"endTime":3512.62,"body":"thirds of my clients are"},{"speaker":"Andy Hart","startTime":3509.7999999999997,"endTime":3512.62,"body":"couples. So I'd look after a few"},{"speaker":"Andy Hart","startTime":3512.62,"endTime":3515.74,"body":"individuals that are obviously"},{"speaker":"Andy Hart","startTime":3512.62,"endTime":3515.74,"body":"single, widowed, widowed,"},{"speaker":"Andy Hart","startTime":3516.16,"endTime":3519.42,"body":"widowed, widow, widowers. So"},{"speaker":"Andy Hart","startTime":3516.16,"endTime":3519.42,"body":"2000 my clients are basically"},{"speaker":"Andy Hart","startTime":3519.42,"endTime":3523.44,"body":"couples, and it's the dynamics"},{"speaker":"Andy Hart","startTime":3519.42,"endTime":3523.44,"body":"between it. Are their values"},{"speaker":"Andy Hart","startTime":3523.44,"endTime":3525.7799999999997,"body":"aligned, are their goals"},{"speaker":"Andy Hart","startTime":3523.44,"endTime":3525.7799999999997,"body":"aligned? You're right, Nick,"},{"speaker":"Andy Hart","startTime":3525.7799999999997,"endTime":3527.88,"body":"when you have the initial"},{"speaker":"Andy Hart","startTime":3525.7799999999997,"endTime":3527.88,"body":"meeting, I'm quite strict and"},{"speaker":"Andy Hart","startTime":3527.88,"endTime":3531.24,"body":"dogmatic as well. If you are"},{"speaker":"Andy Hart","startTime":3527.88,"endTime":3531.24,"body":"part of a couple, I want you to"},{"speaker":"Andy Hart","startTime":3531.2999999999997,"endTime":3535.56,"body":"all be, both of you, to be there"},{"speaker":"Andy Hart","startTime":3531.2999999999997,"endTime":3535.56,"body":"at the initial meeting. I try"},{"speaker":"Andy Hart","startTime":3535.56,"endTime":3539.24,"body":"and find out who's the CMO of"},{"speaker":"Andy Hart","startTime":3535.56,"endTime":3539.24,"body":"the couple, Chief money officer."},{"speaker":"Andy Hart","startTime":3539.24,"endTime":3542.0,"body":"And I do ask that sometimes in"},{"speaker":"Andy Hart","startTime":3539.24,"endTime":3542.0,"body":"early client meetings, I say,"},{"speaker":"Andy Hart","startTime":3542.24,"endTime":3544.8199999999997,"body":"Who's the CMO of the couple, and"},{"speaker":"Andy Hart","startTime":3542.24,"endTime":3544.8199999999997,"body":"they go, what? Unless who's the"},{"speaker":"Andy Hart","startTime":3544.8199999999997,"endTime":3547.64,"body":"chief money officer. They look"},{"speaker":"Andy Hart","startTime":3544.8199999999997,"endTime":3547.64,"body":"at each other and go, him, her,"},{"speaker":"Andy Hart","startTime":3547.8199999999997,"endTime":3551.3599999999997,"body":"or whoever. There's usually one"},{"speaker":"Andy Hart","startTime":3547.8199999999997,"endTime":3551.3599999999997,"body":"that's a bit more more dominant"},{"speaker":"Andy Hart","startTime":3551.3599999999997,"endTime":3555.14,"body":"when it comes to money and"},{"speaker":"Andy Hart","startTime":3551.3599999999997,"endTime":3555.14,"body":"finances, they've got also got"},{"speaker":"Andy Hart","startTime":3555.14,"endTime":3558.46,"body":"different communication styles."},{"speaker":"Andy Hart","startTime":3555.14,"endTime":3558.46,"body":"They've got different literacy."},{"speaker":"Andy Hart","startTime":3558.46,"endTime":3562.06,"body":"When it comes to investing and"},{"speaker":"Andy Hart","startTime":3558.46,"endTime":3562.06,"body":"numbers and numeracy. They've"},{"speaker":"Andy Hart","startTime":3562.06,"endTime":3565.12,"body":"got different attitudes to"},{"speaker":"Andy Hart","startTime":3562.06,"endTime":3565.12,"body":"investing. They've got different"},{"speaker":"Andy Hart","startTime":3565.12,"endTime":3568.3599999999997,"body":"attitudes to insurance. Some"},{"speaker":"Andy Hart","startTime":3565.12,"endTime":3568.3599999999997,"body":"believe in it. Some don't"},{"speaker":"Andy Hart","startTime":3568.3599999999997,"endTime":3571.24,"body":"believe in it. There's various"},{"speaker":"Andy Hart","startTime":3568.3599999999997,"endTime":3571.24,"body":"things that crop up. There's"},{"speaker":"Andy Hart","startTime":3571.24,"endTime":3574.54,"body":"also a lot of difference in"},{"speaker":"Andy Hart","startTime":3571.24,"endTime":3574.54,"body":"spending patterns. Some of them"},{"speaker":"Andy Hart","startTime":3574.6,"endTime":3577.44,"body":"are some of them are spenders."},{"speaker":"Andy Hart","startTime":3574.6,"endTime":3577.44,"body":"Some of them are savers. Some of"},{"speaker":"Andy Hart","startTime":3577.44,"endTime":3581.4,"body":"them are, you know, live for the"},{"speaker":"Andy Hart","startTime":3577.44,"endTime":3581.4,"body":"day. Others want to be planning"},{"speaker":"Andy Hart","startTime":3581.4,"endTime":3586.7999999999997,"body":"for the future. So there's a lot"},{"speaker":"Andy Hart","startTime":3581.4,"endTime":3586.7999999999997,"body":"of sort of dynamics going on"},{"speaker":"Andy Hart","startTime":3586.7999999999997,"endTime":3592.2,"body":"with it. And, yeah, sometimes"},{"speaker":"Andy Hart","startTime":3586.7999999999997,"endTime":3592.2,"body":"I'm very strict. I want to meet"},{"speaker":"Andy Hart","startTime":3592.2,"endTime":3594.48,"body":"both of them in the initial"},{"speaker":"Andy Hart","startTime":3592.2,"endTime":3594.48,"body":"stage, because we talk about"},{"speaker":"Andy Hart","startTime":3594.48,"endTime":3599.0,"body":"this wealth transfer, the first"},{"speaker":"Andy Hart","startTime":3594.48,"endTime":3599.0,"body":"wealth transfer in this business"},{"speaker":"Andy Hart","startTime":3599.3599999999997,"endTime":3604.16,"body":"is spouse to spouse. So usually"},{"speaker":"Andy Hart","startTime":3599.3599999999997,"endTime":3604.16,"body":"there's two spouses, and if one"},{"speaker":"Andy Hart","startTime":3604.16,"endTime":3607.1,"body":"of them passes away, the first"},{"speaker":"Andy Hart","startTime":3604.16,"endTime":3607.1,"body":"wealth transfer is from spouse a"},{"speaker":"Andy Hart","startTime":3607.1,"endTime":3611.54,"body":"to spouse B. And if you don't"},{"speaker":"Andy Hart","startTime":3607.1,"endTime":3611.54,"body":"have a relationship with both,"},{"speaker":"Andy Hart","startTime":3612.14,"endTime":3615.98,"body":"then obviously the client may"},{"speaker":"Andy Hart","startTime":3612.14,"endTime":3615.98,"body":"decide to find a new financial"},{"speaker":"Andy Hart","startTime":3615.98,"endTime":3621.52,"body":"advisor or the money will, you"},{"speaker":"Andy Hart","startTime":3615.98,"endTime":3621.52,"body":"know, leave your business the"},{"speaker":"Andy Hart","startTime":3621.52,"endTime":3623.8599999999997,"body":"second transfer of wealth is"},{"speaker":"Andy Hart","startTime":3621.52,"endTime":3623.8599999999997,"body":"obviously going from the"},{"speaker":"Andy Hart","startTime":3623.8599999999997,"endTime":3627.3399999999997,"body":"surviving spouse to then the"},{"speaker":"Andy Hart","startTime":3623.8599999999997,"endTime":3627.3399999999997,"body":"children. So yeah, that's my"},{"speaker":"Andy Hart","startTime":3627.3399999999997,"endTime":3631.3599999999997,"body":"startup. Who are we heading over"},{"speaker":"Andy Hart","startTime":3627.3399999999997,"endTime":3631.3599999999997,"body":"to now? To talk a little bit"},{"speaker":"Andy Hart","startTime":3631.3599999999997,"endTime":3634.7799999999997,"body":"more about your experience with"},{"speaker":"Andy Hart","startTime":3631.3599999999997,"endTime":3634.7799999999997,"body":"working with couples, over to"},{"speaker":"Andy Hart","startTime":3634.7799999999997,"endTime":3635.2,"body":"you, Alan,"},{"speaker":"Alan Smith","startTime":3636.64,"endTime":3639.48,"body":"I'll say a yeah, let"},{"speaker":"Alan Smith","startTime":3636.64,"endTime":3639.48,"body":"me say a couple of words. I just"},{"speaker":"Alan Smith","startTime":3639.48,"endTime":3643.08,"body":"Just following up from what you"},{"speaker":"Alan Smith","startTime":3639.48,"endTime":3643.08,"body":"said there. It's interesting. I"},{"speaker":"Alan Smith","startTime":3643.08,"endTime":3646.7999999999997,"body":"didn't know what you're going to"},{"speaker":"Alan Smith","startTime":3643.08,"endTime":3646.7999999999997,"body":"say, but this thing about"},{"speaker":"Alan Smith","startTime":3646.98,"endTime":3650.46,"body":"engaging with, engaging with"},{"speaker":"Alan Smith","startTime":3646.98,"endTime":3650.46,"body":"both, you know, the partners,"},{"speaker":"Alan Smith","startTime":3650.46,"endTime":3653.22,"body":"the husband, wife, the whatever"},{"speaker":"Alan Smith","startTime":3650.46,"endTime":3653.22,"body":"the two, the two parts to the"},{"speaker":"Alan Smith","startTime":3653.22,"endTime":3655.8599999999997,"body":"family, the head of the family,"},{"speaker":"Alan Smith","startTime":3653.22,"endTime":3655.8599999999997,"body":"the couple, early on, we, I"},{"speaker":"Alan Smith","startTime":3655.8599999999997,"endTime":3658.46,"body":"think we talked about it in the"},{"speaker":"Alan Smith","startTime":3655.8599999999997,"endTime":3658.46,"body":"past, but worth reiterating"},{"speaker":"Alan Smith","startTime":3658.46,"endTime":3661.94,"body":"again, always, always, always,"},{"speaker":"Alan Smith","startTime":3658.46,"endTime":3661.94,"body":"aim to meet both, but both"},{"speaker":"Alan Smith","startTime":3661.94,"endTime":3665.12,"body":"together. Don't, don't accept"},{"speaker":"Alan Smith","startTime":3661.94,"endTime":3665.12,"body":"just, just to meet one and and"},{"speaker":"Alan Smith","startTime":3665.12,"endTime":3668.54,"body":"taking that to the next level,"},{"speaker":"Alan Smith","startTime":3665.12,"endTime":3668.54,"body":"because we know that there is"},{"speaker":"Alan Smith","startTime":3668.66,"endTime":3673.7,"body":"almost always a financially"},{"speaker":"Alan Smith","startTime":3668.66,"endTime":3673.7,"body":"dominant of the two, without"},{"speaker":"Alan Smith","startTime":3673.7,"endTime":3677.14,"body":"being sexist, it is usually the"},{"speaker":"Alan Smith","startTime":3673.7,"endTime":3677.14,"body":"male, not always. Is, but in my"},{"speaker":"Alan Smith","startTime":3677.14,"endTime":3681.04,"body":"experience that you maybe 80% of"},{"speaker":"Alan Smith","startTime":3677.14,"endTime":3681.04,"body":"the time, yeah, it is. So we"},{"speaker":"Alan Smith","startTime":3681.04,"endTime":3681.3399999999997,"body":"have with"},{"speaker":"Andy Hart","startTime":3681.3399999999997,"endTime":3683.74,"body":"younger clients, I'm"},{"speaker":"Andy Hart","startTime":3681.3399999999997,"endTime":3683.74,"body":"finding it's females, okay,"},{"speaker":"Andy Hart","startTime":3683.74,"endTime":3684.88,"body":"yeah, okay, but"},{"speaker":"Alan Smith","startTime":3686.319,"endTime":3689.379,"body":"whoever it is, but I"},{"speaker":"Alan Smith","startTime":3686.319,"endTime":3689.379,"body":"think so just a specific that"},{"speaker":"Alan Smith","startTime":3689.379,"endTime":3692.919,"body":"we've embraced from for many,"},{"speaker":"Alan Smith","startTime":3689.379,"endTime":3692.919,"body":"many years in our business. So a"},{"speaker":"Alan Smith","startTime":3692.919,"endTime":3696.159,"body":"classic discovery meeting,"},{"speaker":"Alan Smith","startTime":3692.919,"endTime":3696.159,"body":"ideally in our case, an in"},{"speaker":"Alan Smith","startTime":3696.159,"endTime":3699.719,"body":"person meeting. It's a"},{"speaker":"Alan Smith","startTime":3696.159,"endTime":3699.719,"body":"relatively relaxed conversation."},{"speaker":"Alan Smith","startTime":3699.719,"endTime":3702.239,"body":"It's all about the kind of their"},{"speaker":"Alan Smith","startTime":3699.719,"endTime":3702.239,"body":"values, what's important to"},{"speaker":"Alan Smith","startTime":3702.239,"endTime":3706.799,"body":"them, the family, all those good"},{"speaker":"Alan Smith","startTime":3702.239,"endTime":3706.799,"body":"things. But as we open it up, we"},{"speaker":"Alan Smith","startTime":3706.799,"endTime":3710.459,"body":"do the same as you do, and we"},{"speaker":"Alan Smith","startTime":3706.799,"endTime":3710.459,"body":"say, normally one person in the"},{"speaker":"Alan Smith","startTime":3710.459,"endTime":3713.159,"body":"family tends to take the lead"},{"speaker":"Alan Smith","startTime":3710.459,"endTime":3713.159,"body":"with the family finances, with"},{"speaker":"Alan Smith","startTime":3713.159,"endTime":3715.979,"body":"the bank accounts, mortgage"},{"speaker":"Alan Smith","startTime":3713.159,"endTime":3715.979,"body":"payments, etc. May I ask which"},{"speaker":"Alan Smith","startTime":3715.979,"endTime":3719.959,"body":"of the two it is. And yes, you"},{"speaker":"Alan Smith","startTime":3715.979,"endTime":3719.959,"body":"say the point one points to the"},{"speaker":"Alan Smith","startTime":3719.959,"endTime":3722.779,"body":"other, the golf point to the"},{"speaker":"Alan Smith","startTime":3719.959,"endTime":3722.779,"body":"same person. And then very chief"},{"speaker":"Alan Smith","startTime":3722.779,"endTime":3726.319,"body":"money officer, very input. No,"},{"speaker":"Alan Smith","startTime":3722.779,"endTime":3726.319,"body":"don't like that, but you, you"},{"speaker":"Alan Smith","startTime":3726.319,"endTime":3729.799,"body":"stick to it. But then, then we"},{"speaker":"Alan Smith","startTime":3726.319,"endTime":3729.799,"body":"but then the important thing is,"},{"speaker":"Alan Smith","startTime":3729.799,"endTime":3734.359,"body":"there is then, but say, absolute"},{"speaker":"Alan Smith","startTime":3729.799,"endTime":3734.359,"body":"shambles, say it is like they've"},{"speaker":"Alan Smith","startTime":3734.419,"endTime":3738.5789999999997,"body":"pointed to the husband. So,"},{"speaker":"Alan Smith","startTime":3734.419,"endTime":3738.5789999999997,"body":"which is often is the case. So"},{"speaker":"Alan Smith","startTime":3738.5789999999997,"endTime":3741.5789999999997,"body":"very importantly, then to open"},{"speaker":"Alan Smith","startTime":3738.5789999999997,"endTime":3741.5789999999997,"body":"up this conversation, you turn"},{"speaker":"Alan Smith","startTime":3741.5789999999997,"endTime":3744.459,"body":"to the wife and say, in that"},{"speaker":"Alan Smith","startTime":3741.5789999999997,"endTime":3744.459,"body":"case, would you mind? May I"},{"speaker":"Alan Smith","startTime":3744.459,"endTime":3747.339,"body":"start with you with the first"},{"speaker":"Alan Smith","startTime":3744.459,"endTime":3747.339,"body":"question, because you get them"},{"speaker":"Alan Smith","startTime":3747.399,"endTime":3750.219,"body":"in the conversation very early"},{"speaker":"Alan Smith","startTime":3747.399,"endTime":3750.219,"body":"on, because the first questions"},{"speaker":"Alan Smith","startTime":3750.219,"endTime":3752.6189999999997,"body":"are very softball, very tell"},{"speaker":"Alan Smith","startTime":3750.219,"endTime":3752.6189999999997,"body":"tell me your background. Tell me"},{"speaker":"Alan Smith","startTime":3752.6189999999997,"endTime":3755.199,"body":"about your story. What brought"},{"speaker":"Alan Smith","startTime":3752.6189999999997,"endTime":3755.199,"body":"you here, etc, but you bring"},{"speaker":"Alan Smith","startTime":3755.199,"endTime":3758.939,"body":"them in. What we've what I've"},{"speaker":"Alan Smith","startTime":3755.199,"endTime":3758.939,"body":"learned in the past is that the"},{"speaker":"Alan Smith","startTime":3758.999,"endTime":3761.819,"body":"the non financially dominant"},{"speaker":"Alan Smith","startTime":3758.999,"endTime":3761.819,"body":"part of the couple isn't really"},{"speaker":"Alan Smith","startTime":3761.819,"endTime":3764.339,"body":"keen to even be in the meeting."},{"speaker":"Alan Smith","startTime":3761.819,"endTime":3764.339,"body":"So because they think, they"},{"speaker":"Alan Smith","startTime":3764.339,"endTime":3766.739,"body":"think it's conversational"},{"speaker":"Alan Smith","startTime":3764.339,"endTime":3766.739,"body":"pensions and stuff, they've been"},{"speaker":"Alan Smith","startTime":3766.739,"endTime":3770.0389999999998,"body":"dragged along. So we want to get"},{"speaker":"Alan Smith","startTime":3766.739,"endTime":3770.0389999999998,"body":"them involved in a conversation."},{"speaker":"Alan Smith","startTime":3770.0389999999998,"endTime":3773.339,"body":"And if they're in my case, in"},{"speaker":"Alan Smith","startTime":3770.0389999999998,"endTime":3773.339,"body":"this example, the husband has"},{"speaker":"Alan Smith","startTime":3773.339,"endTime":3775.6189999999997,"body":"been waxing on about, yeah,"},{"speaker":"Alan Smith","startTime":3773.339,"endTime":3775.6189999999997,"body":"yeah. I did this, and I've"},{"speaker":"Alan Smith","startTime":3775.6189999999997,"endTime":3778.699,"body":"invested in pensions, and I"},{"speaker":"Alan Smith","startTime":3775.6189999999997,"endTime":3778.699,"body":"dabbled a bit myself, and blah,"},{"speaker":"Alan Smith","startTime":3778.699,"endTime":3780.739,"body":"blah, blah, yeah, and the other"},{"speaker":"Alan Smith","startTime":3778.699,"endTime":3780.739,"body":"half hasn't said a word. You"},{"speaker":"Alan Smith","startTime":3780.739,"endTime":3783.499,"body":"know, 1520, half an hour in."},{"speaker":"Alan Smith","startTime":3780.739,"endTime":3783.499,"body":"It's very, very difficult to"},{"speaker":"Alan Smith","startTime":3783.499,"endTime":3786.6189999999997,"body":"engage them in the conversation."},{"speaker":"Alan Smith","startTime":3783.499,"endTime":3786.6189999999997,"body":"So start very intentionally with"},{"speaker":"Alan Smith","startTime":3786.6189999999997,"endTime":3789.259,"body":"the least financially dominant"},{"speaker":"Alan Smith","startTime":3786.6189999999997,"endTime":3789.259,"body":"person tell me about and you"},{"speaker":"Alan Smith","startTime":3789.259,"endTime":3792.0789999999997,"body":"realize that it's that. It's not"},{"speaker":"Alan Smith","startTime":3789.259,"endTime":3792.0789999999997,"body":"a complicated I'm not asking you"},{"speaker":"Alan Smith","startTime":3792.0789999999997,"endTime":3794.179,"body":"about what, what your view is on"},{"speaker":"Alan Smith","startTime":3792.0789999999997,"endTime":3794.179,"body":"the sharp ratio,"},{"speaker":"Unknown","startTime":3794.18,"endTime":3796.16,"body":"what's your mortgage"},{"speaker":"Unknown","startTime":3794.18,"endTime":3796.16,"body":"interest rate?"},{"speaker":"Alan Smith","startTime":3796.3399999999997,"endTime":3799.2999999999997,"body":"No, it's, yeah,"},{"speaker":"Alan Smith","startTime":3796.3399999999997,"endTime":3799.2999999999997,"body":"exactly. It's, tell me about"},{"speaker":"Alan Smith","startTime":3799.2999999999997,"endTime":3801.52,"body":"your background. Tell me your"},{"speaker":"Alan Smith","startTime":3799.2999999999997,"endTime":3801.52,"body":"story. Tell me what. Tell me"},{"speaker":"Alan Smith","startTime":3801.52,"endTime":3803.74,"body":"what does money mean to you? All"},{"speaker":"Alan Smith","startTime":3801.52,"endTime":3803.74,"body":"those kind of softball"},{"speaker":"Alan Smith","startTime":3803.74,"endTime":3807.8199999999997,"body":"questions. So I think that's a"},{"speaker":"Alan Smith","startTime":3803.74,"endTime":3807.8199999999997,"body":"sort of a tactic that should be"},{"speaker":"Alan Smith","startTime":3807.8199999999997,"endTime":3810.7599999999998,"body":"used, that it's not done for any"},{"speaker":"Alan Smith","startTime":3807.8199999999997,"endTime":3810.7599999999998,"body":"other reason, other than to make"},{"speaker":"Alan Smith","startTime":3810.7599999999998,"endTime":3813.64,"body":"it a much more engaging"},{"speaker":"Alan Smith","startTime":3810.7599999999998,"endTime":3813.64,"body":"conversation for all parties."},{"speaker":"Alan Smith","startTime":3813.64,"endTime":3816.48,"body":"That's worked really well. The"},{"speaker":"Alan Smith","startTime":3813.64,"endTime":3816.48,"body":"only other thing I'm going to"},{"speaker":"Alan Smith","startTime":3816.9,"endTime":3819.6,"body":"chuck into them, into the mix"},{"speaker":"Alan Smith","startTime":3816.9,"endTime":3819.6,"body":"here, you're right. We've had"},{"speaker":"Alan Smith","startTime":3819.6,"endTime":3822.66,"body":"situations where people have"},{"speaker":"Alan Smith","startTime":3819.6,"endTime":3822.66,"body":"passed on divorces. Is one"},{"speaker":"Alan Smith","startTime":3822.72,"endTime":3827.3399999999997,"body":"people have got divorced, so"},{"speaker":"Alan Smith","startTime":3822.72,"endTime":3827.3399999999997,"body":"therefore the money tends to get"},{"speaker":"Alan Smith","startTime":3827.3399999999997,"endTime":3830.58,"body":"split up. It's very difficult."},{"speaker":"Alan Smith","startTime":3827.3399999999997,"endTime":3830.58,"body":"We've tried a couple of times to"},{"speaker":"Alan Smith","startTime":3830.58,"endTime":3835.02,"body":"retain both the the subsequent,"},{"speaker":"Alan Smith","startTime":3830.58,"endTime":3835.02,"body":"you know, divorcee divorce part"},{"speaker":"Alan Smith","startTime":3835.08,"endTime":3837.8599999999997,"body":"of these couples. We've, to my"},{"speaker":"Alan Smith","startTime":3835.08,"endTime":3837.8599999999997,"body":"knowledge, don't think we've"},{"speaker":"Alan Smith","startTime":3837.8599999999997,"endTime":3841.04,"body":"ever made it work. Eventually,"},{"speaker":"Alan Smith","startTime":3837.8599999999997,"endTime":3841.04,"body":"someone, one party, says, No,"},{"speaker":"Alan Smith","startTime":3841.04,"endTime":3845.2999999999997,"body":"you, I'm going to find another"},{"speaker":"Alan Smith","startTime":3841.04,"endTime":3845.2999999999997,"body":"advisor, which, which is, which"},{"speaker":"Alan Smith","startTime":3845.2999999999997,"endTime":3850.46,"body":"is fair enough. And the last"},{"speaker":"Alan Smith","startTime":3845.2999999999997,"endTime":3850.46,"body":"thing I'll say, just remembering"},{"speaker":"Alan Smith","startTime":3850.46,"endTime":3853.8199999999997,"body":"a brief experience with back"},{"speaker":"Alan Smith","startTime":3850.46,"endTime":3853.8199999999997,"body":"quite a few years ago, I was"},{"speaker":"Alan Smith","startTime":3853.8199999999997,"endTime":3857.3199999999997,"body":"working with this client who was"},{"speaker":"Alan Smith","startTime":3853.8199999999997,"endTime":3857.3199999999997,"body":"quite an elderly gentleman, and"},{"speaker":"Alan Smith","startTime":3857.3199999999997,"endTime":3862.06,"body":"he'd never been married, and he"},{"speaker":"Alan Smith","startTime":3857.3199999999997,"endTime":3862.06,"body":"was very well off, and out of"},{"speaker":"Alan Smith","startTime":3862.06,"endTime":3868.42,"body":"nowhere he found himself very"},{"speaker":"Alan Smith","startTime":3862.06,"endTime":3868.42,"body":"young partner, and all of a"},{"speaker":"Alan Smith","startTime":3868.42,"endTime":3872.38,"body":"sudden, his spending patterns"},{"speaker":"Alan Smith","startTime":3868.42,"endTime":3872.38,"body":"seem to go through the absolute"},{"speaker":"Alan Smith","startTime":3872.38,"endTime":3876.72,"body":"roof. Now that is a real"},{"speaker":"Alan Smith","startTime":3872.38,"endTime":3876.72,"body":"challenge, because we're aware"},{"speaker":"Alan Smith","startTime":3876.72,"endTime":3880.74,"body":"of this. The guy lived a pretty"},{"speaker":"Alan Smith","startTime":3876.72,"endTime":3880.74,"body":"humble lifestyle, frankly, silly"},{"speaker":"Alan Smith","startTime":3880.74,"endTime":3883.02,"body":"relative to the wealth he had,"},{"speaker":"Alan Smith","startTime":3880.74,"endTime":3883.02,"body":"and it made him"},{"speaker":"Unknown","startTime":3892.2,"endTime":3893.7599999999998,"body":"sure what that was"},{"speaker":"Unknown","startTime":3892.2,"endTime":3893.7599999999998,"body":"about. But"},{"speaker":"Nick Lincoln","startTime":3894.0,"endTime":3895.92,"body":"Well, he was so"},{"speaker":"Nick Lincoln","startTime":3894.0,"endTime":3895.92,"body":"easy his money and money nice."},{"speaker":"Nick Lincoln","startTime":3895.92,"endTime":3905.8399999999997,"body":"I'm doing nice things. I nice"},{"speaker":"Alan Smith","startTime":3905.9,"endTime":3908.96,"body":"things. So we had to"},{"speaker":"Alan Smith","startTime":3905.9,"endTime":3908.96,"body":"navigate that one very, very"},{"speaker":"Alan Smith","startTime":3909.02,"endTime":3912.08,"body":"carefully, because he was in"},{"speaker":"Alan Smith","startTime":3909.02,"endTime":3912.08,"body":"love, and he kept repeating to"},{"speaker":"Alan Smith","startTime":3912.08,"endTime":3915.08,"body":"me how much in love he was, and"},{"speaker":"Alan Smith","startTime":3912.08,"endTime":3915.08,"body":"actually attended their wedding."},{"speaker":"Alan Smith","startTime":3915.08,"endTime":3915.44,"body":"That's"},{"speaker":"Andy Hart","startTime":3915.44,"endTime":3917.62,"body":"That's a vulnerable"},{"speaker":"Andy Hart","startTime":3915.44,"endTime":3917.62,"body":"client now, screaming,"},{"speaker":"Andy Hart","startTime":3917.62,"endTime":3919.3599999999997,"body":"vulnerable client, you"},{"speaker":"Alan Smith","startTime":3919.3599999999997,"endTime":3922.54,"body":"try, you try to"},{"speaker":"Alan Smith","startTime":3919.3599999999997,"endTime":3922.54,"body":"navigate, navigate that when he"},{"speaker":"Alan Smith","startTime":3922.54,"endTime":3925.12,"body":"says very and I'm trying to try"},{"speaker":"Alan Smith","startTime":3922.54,"endTime":3925.12,"body":"to have a quiet word with him,"},{"speaker":"Alan Smith","startTime":3925.24,"endTime":3929.14,"body":"but without upsetting the new,"},{"speaker":"Alan Smith","startTime":3925.24,"endTime":3929.14,"body":"yeah, very, very awkward and"},{"speaker":"Alan Smith","startTime":3929.14,"endTime":3935.38,"body":"difficult. I mean, it seemed to"},{"speaker":"Alan Smith","startTime":3929.14,"endTime":3935.38,"body":"work out sort of, you know,"},{"speaker":"Alan Smith","startTime":3936.22,"endTime":3939.72,"body":"sadly, you know, maybe seven,"},{"speaker":"Alan Smith","startTime":3936.22,"endTime":3939.72,"body":"eight years later, the elderly"},{"speaker":"Alan Smith","startTime":3939.96,"endTime":3947.2799999999997,"body":"client passed away and won out"},{"speaker":"Alan Smith","startTime":3939.96,"endTime":3947.2799999999997,"body":"the and the other half inherited"},{"speaker":"Alan Smith","startTime":3947.2799999999997,"endTime":3950.46,"body":"quite a nice touch and relocated"},{"speaker":"Alan Smith","startTime":3947.2799999999997,"endTime":3950.46,"body":"to the United States, and we"},{"speaker":"Alan Smith","startTime":3950.46,"endTime":3954.24,"body":"never heard from him again. So"},{"speaker":"Alan Smith","startTime":3950.46,"endTime":3954.24,"body":"that is but you got it again."},{"speaker":"Alan Smith","startTime":3954.48,"endTime":3958.7599999999998,"body":"Couples, the relationship, you"},{"speaker":"Alan Smith","startTime":3954.48,"endTime":3958.7599999999998,"body":"know, you're aware of one thing"},{"speaker":"Alan Smith","startTime":3958.7599999999998,"endTime":3961.94,"body":"versus the other, but you can't,"},{"speaker":"Alan Smith","startTime":3958.7599999999998,"endTime":3961.94,"body":"you can't cross that border,"},{"speaker":"Alan Smith","startTime":3961.94,"endTime":3965.0,"body":"cross that line. It's a tricky"},{"speaker":"Alan Smith","startTime":3961.94,"endTime":3965.0,"body":"thing, and all we can do is show"},{"speaker":"Alan Smith","startTime":3965.0,"endTime":3967.64,"body":"up, do our best, tell our truth,"},{"speaker":"Alan Smith","startTime":3965.0,"endTime":3967.64,"body":"try to navigate these"},{"speaker":"Alan Smith","startTime":3967.64,"endTime":3968.7799999999997,"body":"relationships. But"},{"speaker":"Unknown","startTime":3970.52,"endTime":3972.68,"body":"it's not easy. It's not"},{"speaker":"Unknown","startTime":3970.52,"endTime":3972.68,"body":"easy. It is you're right. You're"},{"speaker":"Unknown","startTime":3972.74,"endTime":3973.3399999999997,"body":"right. It"},{"speaker":"Alan Smith","startTime":3973.3399999999997,"endTime":3976.2999999999997,"body":"is common sense, and"},{"speaker":"Alan Smith","startTime":3973.3399999999997,"endTime":3976.2999999999997,"body":"just doing what you think is. Is"},{"speaker":"Alan Smith","startTime":3976.48,"endTime":3979.0,"body":"the right thing. And, of course,"},{"speaker":"Alan Smith","startTime":3976.48,"endTime":3979.0,"body":"and this was, this wasn't like"},{"speaker":"Alan Smith","startTime":3979.0,"endTime":3981.22,"body":"that, don't get me wrong. But if"},{"speaker":"Alan Smith","startTime":3979.0,"endTime":3981.22,"body":"there are things, and I have"},{"speaker":"Alan Smith","startTime":3981.22,"endTime":3984.4,"body":"heard some pretty bad stories"},{"speaker":"Alan Smith","startTime":3981.22,"endTime":3984.4,"body":"about whether it's, you know,"},{"speaker":"Alan Smith","startTime":3984.4,"endTime":3986.62,"body":"abuse of one sort or another,"},{"speaker":"Alan Smith","startTime":3984.4,"endTime":3986.62,"body":"and you've got to be, you know,"},{"speaker":"Alan Smith","startTime":3986.62,"endTime":3989.08,"body":"take that very seriously,"},{"speaker":"Alan Smith","startTime":3986.62,"endTime":3989.08,"body":"whether it's properly vulnerable"},{"speaker":"Alan Smith","startTime":3989.08,"endTime":3991.42,"body":"clients. And you know that"},{"speaker":"Alan Smith","startTime":3989.08,"endTime":3991.42,"body":"there's various safeguards and"},{"speaker":"Alan Smith","startTime":3991.42,"endTime":3993.7599999999998,"body":"things that we all need to be"},{"speaker":"Alan Smith","startTime":3991.42,"endTime":3993.7599999999998,"body":"aware of and put in, put in"},{"speaker":"Alan Smith","startTime":3993.7599999999998,"endTime":3997.14,"body":"place. But no good, good"},{"speaker":"Alan Smith","startTime":3993.7599999999998,"endTime":3997.14,"body":"subject. Just"},{"speaker":"Andy Hart","startTime":3997.3199999999997,"endTime":3999.2999999999997,"body":"before going to the"},{"speaker":"Andy Hart","startTime":3997.3199999999997,"endTime":3999.2999999999997,"body":"next person. If I've been"},{"speaker":"Andy Hart","startTime":3999.2999999999997,"endTime":4001.8199999999997,"body":"working with a couple for a"},{"speaker":"Andy Hart","startTime":3999.2999999999997,"endTime":4001.8199999999997,"body":"while, and I know both of them"},{"speaker":"Andy Hart","startTime":4001.8199999999997,"endTime":4005.96,"body":"very well, I'm okay for the less"},{"speaker":"Andy Hart","startTime":4001.8199999999997,"endTime":4005.96,"body":"financially dominant one not to"},{"speaker":"Andy Hart","startTime":4005.96,"endTime":4008.2999999999997,"body":"join every meeting going"},{"speaker":"Andy Hart","startTime":4005.96,"endTime":4008.2999999999997,"body":"forward. But if it's happened"},{"speaker":"Andy Hart","startTime":4008.42,"endTime":4013.22,"body":"agree a few times in a row, I'm"},{"speaker":"Andy Hart","startTime":4008.42,"endTime":4013.22,"body":"like, right next time, really"},{"speaker":"Andy Hart","startTime":4013.22,"endTime":4015.98,"body":"great to all three of us to get"},{"speaker":"Andy Hart","startTime":4013.22,"endTime":4015.98,"body":"together again. So yeah, I'm"},{"speaker":"Andy Hart","startTime":4015.98,"endTime":4019.7799999999997,"body":"very strict on in the initial"},{"speaker":"Andy Hart","startTime":4015.98,"endTime":4019.7799999999997,"body":"stages. And as you said, Alan, I"},{"speaker":"Andy Hart","startTime":4019.7799999999997,"endTime":4023.62,"body":"want the one that's less"},{"speaker":"Andy Hart","startTime":4019.7799999999997,"endTime":4023.62,"body":"financially dominant or sort of"},{"speaker":"Andy Hart","startTime":4023.62,"endTime":4027.22,"body":"literate to be involved as much"},{"speaker":"Andy Hart","startTime":4023.62,"endTime":4027.22,"body":"as possible, and, you know, to"},{"speaker":"Andy Hart","startTime":4027.22,"endTime":4030.52,"body":"ask as many questions and be as"},{"speaker":"Andy Hart","startTime":4027.22,"endTime":4030.52,"body":"comfortable the relationship as"},{"speaker":"Andy Hart","startTime":4030.52,"endTime":4035.08,"body":"they can be. But yeah, I'm less"},{"speaker":"Andy Hart","startTime":4030.52,"endTime":4035.08,"body":"strict. Yeah. I agree to attend"},{"speaker":"Andy Hart","startTime":4035.08,"endTime":4039.06,"body":"every single Yeah, yeah, follow"},{"speaker":"Andy Hart","startTime":4035.08,"endTime":4039.06,"body":"up meeting. Yeah, okay, over to"},{"speaker":"Andy Hart","startTime":4039.06,"endTime":4040.56,"body":"you. Carl, yeah."},{"speaker":"Carl Widger","startTime":4042.6,"endTime":4045.54,"body":"Okay, so I was the"},{"speaker":"Carl Widger","startTime":4042.6,"endTime":4045.54,"body":"one who said this was a terrible"},{"speaker":"Carl Widger","startTime":4045.54,"endTime":4050.52,"body":"subject, Andy. Andy said that we"},{"speaker":"Carl Widger","startTime":4045.54,"endTime":4050.52,"body":"should talk about couples, and"},{"speaker":"Carl Widger","startTime":4050.52,"endTime":4057.14,"body":"I'm suffering the the brute"},{"speaker":"Carl Widger","startTime":4050.52,"endTime":4057.14,"body":"force of karma right now. So we"},{"speaker":"Carl Widger","startTime":4057.14,"endTime":4060.68,"body":"often come on here and say how"},{"speaker":"Carl Widger","startTime":4057.14,"endTime":4060.68,"body":"great our lives are and how"},{"speaker":"Carl Widger","startTime":4060.68,"endTime":4063.3199999999997,"body":"great business is, and blah,"},{"speaker":"Carl Widger","startTime":4060.68,"endTime":4063.3199999999997,"body":"blah, blah. So I'm going to be"},{"speaker":"Carl Widger","startTime":4063.3199999999997,"endTime":4068.0,"body":"totally honest and tell you a"},{"speaker":"Carl Widger","startTime":4063.3199999999997,"endTime":4068.0,"body":"bit of a shitty story. So we"},{"speaker":"Carl Widger","startTime":4068.0,"endTime":4073.16,"body":"have been working with, I"},{"speaker":"Carl Widger","startTime":4068.0,"endTime":4073.16,"body":"suppose, elderly clients at this"},{"speaker":"Carl Widger","startTime":4073.16,"endTime":4078.22,"body":"stage for nine years now, and"},{"speaker":"Carl Widger","startTime":4073.16,"endTime":4078.22,"body":"unfortunately, the gentleman in"},{"speaker":"Carl Widger","startTime":4078.22,"endTime":4081.58,"body":"the relationship passed away"},{"speaker":"Carl Widger","startTime":4078.22,"endTime":4081.58,"body":"last year, and I got a phone"},{"speaker":"Carl Widger","startTime":4081.58,"endTime":4088.0,"body":"call this morning from his"},{"speaker":"Carl Widger","startTime":4081.58,"endTime":4088.0,"body":"surviving wife, who I would have"},{"speaker":"Carl Widger","startTime":4088.0,"endTime":4090.64,"body":"thought we got on fantastically"},{"speaker":"Carl Widger","startTime":4088.0,"endTime":4090.64,"body":"well with. And I'm going to"},{"speaker":"Carl Widger","startTime":4091.0,"endTime":4093.22,"body":"leave out some detail if you"},{"speaker":"Carl Widger","startTime":4091.0,"endTime":4093.22,"body":"don't mind on this, because"},{"speaker":"Carl Widger","startTime":4093.22,"endTime":4099.3,"body":"anyway, I don't want to give"},{"speaker":"Carl Widger","startTime":4093.22,"endTime":4099.3,"body":"away too much detail, but she"},{"speaker":"Carl Widger","startTime":4099.3,"endTime":4103.26,"body":"basically said, we're leaving"},{"speaker":"Carl Widger","startTime":4099.3,"endTime":4103.26,"body":"cars. We're leaving met us. We"},{"speaker":"Carl Widger","startTime":4103.26,"endTime":4108.6,"body":"don't want you to advise us"},{"speaker":"Carl Widger","startTime":4103.26,"endTime":4108.6,"body":"anymore. And I was shocked,"},{"speaker":"Carl Widger","startTime":4108.9000000000005,"endTime":4117.26,"body":"taken aback, pissed off,"},{"speaker":"Carl Widger","startTime":4108.9000000000005,"endTime":4117.26,"body":"surprised everything and and"},{"speaker":"Carl Widger","startTime":4117.32,"endTime":4122.42,"body":"when, as the conversation"},{"speaker":"Carl Widger","startTime":4117.32,"endTime":4122.42,"body":"evolved a small bit, basically,"},{"speaker":"Carl Widger","startTime":4123.5,"endTime":4128.84,"body":"it was the gentleman who valued"},{"speaker":"Carl Widger","startTime":4123.5,"endTime":4128.84,"body":"our the relationship he had with"},{"speaker":"Carl Widger","startTime":4128.84,"endTime":4133.1,"body":"Metis. She did attend every"},{"speaker":"Carl Widger","startTime":4128.84,"endTime":4133.1,"body":"single one of the meetings with"},{"speaker":"Carl Widger","startTime":4133.1,"endTime":4137.32,"body":"Metis, but we didn't cover"},{"speaker":"Carl Widger","startTime":4133.1,"endTime":4137.32,"body":"ourselves in glory. I would say,"},{"speaker":"Carl Widger","startTime":4137.32,"endTime":4141.58,"body":"since the gentleman passed away"},{"speaker":"Carl Widger","startTime":4137.32,"endTime":4141.58,"body":"and she made a call herself,"},{"speaker":"Carl Widger","startTime":4141.58,"endTime":4147.88,"body":"that bugger you lot, I'm out of"},{"speaker":"Carl Widger","startTime":4141.58,"endTime":4147.88,"body":"here. So at your peril, dismiss"},{"speaker":"Carl Widger","startTime":4147.9400000000005,"endTime":4152.14,"body":"this subject like I did when"},{"speaker":"Carl Widger","startTime":4147.9400000000005,"endTime":4152.14,"body":"Andrew Hart said we should"},{"speaker":"Carl Widger","startTime":4152.2,"endTime":4156.34,"body":"discuss it. And look, I'm being"},{"speaker":"Carl Widger","startTime":4152.2,"endTime":4156.34,"body":"a little bit facetious, because"},{"speaker":"Carl Widger","startTime":4158.9800000000005,"endTime":4163.32,"body":"you Yeah. It's yeah, I suppose"},{"speaker":"Carl Widger","startTime":4158.9800000000005,"endTime":4163.32,"body":"I'm not in, I'm not in the zone"},{"speaker":"Carl Widger","startTime":4163.32,"endTime":4166.38,"body":"of sitting with the clients"},{"speaker":"Carl Widger","startTime":4163.32,"endTime":4166.38,"body":"anymore, as much as I was. It's"},{"speaker":"Carl Widger","startTime":4166.38,"endTime":4169.4400000000005,"body":"seldom enough that I'm doing it"},{"speaker":"Carl Widger","startTime":4166.38,"endTime":4169.4400000000005,"body":"now these days. So it's not"},{"speaker":"Carl Widger","startTime":4169.4400000000005,"endTime":4172.86,"body":"necessarily for me, which is"},{"speaker":"Carl Widger","startTime":4169.4400000000005,"endTime":4172.86,"body":"probably Andy, why I dismissed"},{"speaker":"Carl Widger","startTime":4172.86,"endTime":4175.5,"body":"it, and I must apologize for"},{"speaker":"Carl Widger","startTime":4172.86,"endTime":4175.5,"body":"dismiss it, because this is"},{"speaker":"Carl Widger","startTime":4175.5,"endTime":4179.0599999999995,"body":"clearly a really, really, really"},{"speaker":"Carl Widger","startTime":4175.5,"endTime":4179.0599999999995,"body":"important issue. And, and I"},{"speaker":"Carl Widger","startTime":4179.0599999999995,"endTime":4181.7,"body":"think further on from that, you"},{"speaker":"Carl Widger","startTime":4179.0599999999995,"endTime":4181.7,"body":"know, when you are dealing with"},{"speaker":"Carl Widger","startTime":4181.7,"endTime":4184.7,"body":"elderly clients, to Nick's point"},{"speaker":"Carl Widger","startTime":4181.7,"endTime":4184.7,"body":"about dealing with, you know,"},{"speaker":"Carl Widger","startTime":4184.7,"endTime":4187.88,"body":"well, when that, when the wealth"},{"speaker":"Carl Widger","startTime":4184.7,"endTime":4187.88,"body":"gets passed on and all that kind"},{"speaker":"Carl Widger","startTime":4187.88,"endTime":4193.04,"body":"of stuff. So I think it is"},{"speaker":"Carl Widger","startTime":4187.88,"endTime":4193.04,"body":"something that you need to be"},{"speaker":"Carl Widger","startTime":4193.04,"endTime":4198.88,"body":"very, very careful about. This"},{"speaker":"Carl Widger","startTime":4193.04,"endTime":4198.88,"body":"is a significant family for us,"},{"speaker":"Carl Widger","startTime":4199.24,"endTime":4203.86,"body":"and I hate losing it. And I"},{"speaker":"Carl Widger","startTime":4199.24,"endTime":4203.86,"body":"thought, I think bringing this"},{"speaker":"Carl Widger","startTime":4203.86,"endTime":4206.86,"body":"up today is important, you know,"},{"speaker":"Carl Widger","startTime":4203.86,"endTime":4206.86,"body":"just to say that, you know,"},{"speaker":"Carl Widger","startTime":4206.92,"endTime":4210.4,"body":"running a business like ours is"},{"speaker":"Carl Widger","startTime":4206.92,"endTime":4210.4,"body":"fucking hard"},{"speaker":"Nick Lincoln","startTime":4212.559,"endTime":4215.799,"body":"describe that"},{"speaker":"Nick Lincoln","startTime":4212.559,"endTime":4215.799,"body":"Carl, the gut punch, but also"},{"speaker":"Nick Lincoln","startTime":4215.799,"endTime":4220.199,"body":"the anger. And it's everything,"},{"speaker":"Nick Lincoln","startTime":4215.799,"endTime":4220.199,"body":"isn't it? Do you? Yeah, and it's"},{"speaker":"Nick Lincoln","startTime":4220.199,"endTime":4223.019,"body":"part of you also thinking, Is"},{"speaker":"Nick Lincoln","startTime":4220.199,"endTime":4223.019,"body":"there someone whispering in her"},{"speaker":"Carl Widger","startTime":4227.16,"endTime":4229.5599999999995,"body":"ear? I won't go"},{"speaker":"Carl Widger","startTime":4227.16,"endTime":4229.5599999999995,"body":"into I won't go into more"},{"speaker":"Carl Widger","startTime":4229.5599999999995,"endTime":4235.62,"body":"detail, but I think I know her"},{"speaker":"Carl Widger","startTime":4229.5599999999995,"endTime":4235.62,"body":"kids, and I'll put it this way,"},{"speaker":"Carl Widger","startTime":4235.62,"endTime":4239.96,"body":"our kids were supportive of her"},{"speaker":"Carl Widger","startTime":4235.62,"endTime":4239.96,"body":"decision, which is a further God"},{"speaker":"Carl Widger","startTime":4239.96,"endTime":4240.86,"body":"punch, but"},{"speaker":"Andy Hart","startTime":4240.86,"endTime":4243.8,"body":"they are making"},{"speaker":"Andy Hart","startTime":4240.86,"endTime":4243.8,"body":"they're taking a big risk. I'm"},{"speaker":"Andy Hart","startTime":4243.8,"endTime":4248.48,"body":"assuming she's quite elderly."},{"speaker":"Andy Hart","startTime":4243.8,"endTime":4248.48,"body":"Let's say she's old in the"},{"speaker":"Andy Hart","startTime":4249.38,"endTime":4251.48,"body":"traditional sense. She"},{"speaker":"Nick Lincoln","startTime":4251.48,"endTime":4255.0199999999995,"body":"is adding up"},{"speaker":"Nick Lincoln","startTime":4251.48,"endTime":4255.0199999999995,"body":"numbers as you go through"},{"speaker":"Andy Hart","startTime":4255.559,"endTime":4260.079,"body":"them together. She's"},{"speaker":"Andy Hart","startTime":4255.559,"endTime":4260.079,"body":"been with you almost a decade,"},{"speaker":"Andy Hart","startTime":4261.699,"endTime":4266.199,"body":"so she's taking a big risk to"},{"speaker":"Andy Hart","startTime":4261.699,"endTime":4266.199,"body":"try and find a another full"},{"speaker":"Andy Hart","startTime":4266.919,"endTime":4267.399,"body":"Fauci."},{"speaker":"Alan Smith","startTime":4268.36,"endTime":4271.0599999999995,"body":"She's probably had a"},{"speaker":"Alan Smith","startTime":4268.36,"endTime":4271.0599999999995,"body":"few chats with someone else."},{"speaker":"Alan Smith","startTime":4271.72,"endTime":4274.5999999999995,"body":"It's always much easier you say"},{"speaker":"Alan Smith","startTime":4271.72,"endTime":4274.5999999999995,"body":"sorry she has or hasn't"},{"speaker":"Carl Widger","startTime":4274.66,"endTime":4278.4,"body":"she has Yes. I was"},{"speaker":"Carl Widger","startTime":4274.66,"endTime":4278.4,"body":"I? So I did speak to her"},{"speaker":"Carl Widger","startTime":4278.4,"endTime":4282.96,"body":"daughter as well, and probably"},{"speaker":"Carl Widger","startTime":4278.4,"endTime":4282.96,"body":"said too much, but so they were"},{"speaker":"Carl Widger","startTime":4283.5,"endTime":4287.0999999999995,"body":"fully frank with me as to what"},{"speaker":"Carl Widger","startTime":4283.5,"endTime":4287.0999999999995,"body":"has evolved and what has"},{"speaker":"Carl Widger","startTime":4287.0999999999995,"endTime":4292.62,"body":"transpired, and yeah, so it's"},{"speaker":"Carl Widger","startTime":4287.0999999999995,"endTime":4292.62,"body":"look it just is what it is."},{"speaker":"Carl Widger","startTime":4293.04,"endTime":4293.76,"body":"Yeah, it"},{"speaker":"Alan Smith","startTime":4293.76,"endTime":4297.5599999999995,"body":"happens Carl,"},{"speaker":"Alan Smith","startTime":4293.76,"endTime":4297.5599999999995,"body":"happens to all of us. The thing"},{"speaker":"Alan Smith","startTime":4297.5599999999995,"endTime":4301.04,"body":"is to learn lessons from it."},{"speaker":"Alan Smith","startTime":4297.5599999999995,"endTime":4301.04,"body":"Why? Why did this have 100%"},{"speaker":"Alan Smith","startTime":4301.58,"endTime":4305.78,"body":"after action review what would"},{"speaker":"Alan Smith","startTime":4301.58,"endTime":4305.78,"body":"be done differently? And by the"},{"speaker":"Alan Smith","startTime":4305.78,"endTime":4308.18,"body":"way, sometimes there's nothing"},{"speaker":"Alan Smith","startTime":4305.78,"endTime":4308.18,"body":"you can do differently. Yeah,"},{"speaker":"Alan Smith","startTime":4308.18,"endTime":4311.0599999999995,"body":"sometimes people want a clean"},{"speaker":"Alan Smith","startTime":4308.18,"endTime":4311.0599999999995,"body":"break. I love your death car,"},{"speaker":"Alan Smith","startTime":4311.0599999999995,"endTime":4313.46,"body":"love your team, love everyone"},{"speaker":"Alan Smith","startTime":4311.0599999999995,"endTime":4313.46,"body":"else. I just feel like having a"},{"speaker":"Alan Smith","startTime":4313.46,"endTime":4314.9,"body":"clean break. That's"},{"speaker":"Nick Lincoln","startTime":4314.9,"endTime":4316.5199999999995,"body":"really"},{"speaker":"Nick Lincoln","startTime":4314.9,"endTime":4316.5199999999995,"body":"fascinating. If you know we"},{"speaker":"Nick Lincoln","startTime":4316.5199999999995,"endTime":4318.76,"body":"could, we could, we could talk"},{"speaker":"Nick Lincoln","startTime":4316.5199999999995,"endTime":4318.76,"body":"about just this aspect of the"},{"speaker":"Nick Lincoln","startTime":4318.76,"endTime":4321.0999999999995,"body":"couple's conundrum, couldn't we"},{"speaker":"Nick Lincoln","startTime":4318.76,"endTime":4321.0999999999995,"body":"the other When, when, when one"},{"speaker":"Nick Lincoln","startTime":4321.0999999999995,"endTime":4324.82,"body":"of the couples passes away? How"},{"speaker":"Nick Lincoln","startTime":4321.0999999999995,"endTime":4324.82,"body":"to handle it? Things to look out"},{"speaker":"Nick Lincoln","startTime":4324.82,"endTime":4329.5599999999995,"body":"for changing the tone. We could"},{"speaker":"Nick Lincoln","startTime":4324.82,"endTime":4329.5599999999995,"body":"if we had a trap Academy, this"},{"speaker":"Nick Lincoln","startTime":4329.5599999999995,"endTime":4331.5999999999995,"body":"could be a separate module all"},{"speaker":"Nick Lincoln","startTime":4329.5599999999995,"endTime":4331.5999999999995,"body":"on its own, couldn't it?"},{"speaker":"Carl Widger","startTime":4332.92,"endTime":4336.58,"body":"Yeah, that's so"},{"speaker":"Carl Widger","startTime":4332.92,"endTime":4336.58,"body":"good idea. The Traffic Academy"},{"speaker":"Carl Widger","startTime":4336.7,"endTime":4340.08,"body":"very very we are, we are totally"},{"speaker":"Carl Widger","startTime":4336.7,"endTime":4340.08,"body":"going to do that because, yeah,"},{"speaker":"Carl Widger","startTime":4340.08,"endTime":4343.74,"body":"that we have so much, we've so"},{"speaker":"Carl Widger","startTime":4340.08,"endTime":4343.74,"body":"much experience to pass on to"},{"speaker":"Carl Widger","startTime":4343.74,"endTime":4347.28,"body":"other people. Because I can tell"},{"speaker":"Carl Widger","startTime":4343.74,"endTime":4347.28,"body":"you what, what should we have"},{"speaker":"Carl Widger","startTime":4347.28,"endTime":4350.94,"body":"learned? What? What, what will"},{"speaker":"Carl Widger","startTime":4347.28,"endTime":4350.94,"body":"we learn? Is when somebody"},{"speaker":"Carl Widger","startTime":4350.94,"endTime":4354.5999999999995,"body":"passes away, here's what we"},{"speaker":"Carl Widger","startTime":4350.94,"endTime":4354.5999999999995,"body":"should have done. I now know"},{"speaker":"Carl Widger","startTime":4354.66,"endTime":4358.22,"body":"myself because they told me"},{"speaker":"Carl Widger","startTime":4354.66,"endTime":4358.22,"body":"today. They told me,"},{"speaker":"Nick Lincoln","startTime":4359.54,"endTime":4362.54,"body":"lesson learned,"},{"speaker":"Nick Lincoln","startTime":4359.54,"endTime":4362.54,"body":"right? Yeah. And unlike, you"},{"speaker":"Nick Lincoln","startTime":4362.54,"endTime":4362.9,"body":"know, do"},{"speaker":"Carl Widger","startTime":4362.9,"endTime":4366.08,"body":"I hold any grudges"},{"speaker":"Carl Widger","startTime":4362.9,"endTime":4366.08,"body":"against them? None at all."},{"speaker":"Carl Widger","startTime":4366.08,"endTime":4368.96,"body":"They're just beautiful, like"},{"speaker":"Carl Widger","startTime":4366.08,"endTime":4368.96,"body":"she's a beautiful woman, a"},{"speaker":"Carl Widger","startTime":4368.96,"endTime":4372.0199999999995,"body":"beautiful family. That's the"},{"speaker":"Carl Widger","startTime":4368.96,"endTime":4372.0199999999995,"body":"thing. It's not, yeah, but I'm"},{"speaker":"Carl Widger","startTime":4372.0199999999995,"endTime":4373.0999999999995,"body":"taking it personally, but"},{"speaker":"Andy Hart","startTime":4375.14,"endTime":4377.62,"body":"it's actually not,"},{"speaker":"Andy Hart","startTime":4375.14,"endTime":4377.62,"body":"don't, don't get personal"},{"speaker":"Andy Hart","startTime":4377.62,"endTime":4380.44,"body":"business. Yeah, it's a great"},{"speaker":"Andy Hart","startTime":4377.62,"endTime":4380.44,"body":"saying. It doesn't happen in"},{"speaker":"Andy Hart","startTime":4380.44,"endTime":4380.86,"body":"reality."},{"speaker":"Carl Widger","startTime":4380.86,"endTime":4384.7,"body":"Yeah, I do. I do"},{"speaker":"Carl Widger","startTime":4380.86,"endTime":4384.7,"body":"have one other just kind of an"},{"speaker":"Carl Widger","startTime":4384.7,"endTime":4387.16,"body":"aside, right? Just on something"},{"speaker":"Carl Widger","startTime":4384.7,"endTime":4387.16,"body":"Andy said, Just something a"},{"speaker":"Carl Widger","startTime":4387.16,"endTime":4391.5999999999995,"body":"little bit, you know, that it's,"},{"speaker":"Carl Widger","startTime":4387.16,"endTime":4391.5999999999995,"body":"it's, tends to be the male who's"},{"speaker":"Carl Widger","startTime":4391.5999999999995,"endTime":4394.78,"body":"the dominant partner, exactly"},{"speaker":"Carl Widger","startTime":4391.5999999999995,"endTime":4394.78,"body":"like Andy says, right? The"},{"speaker":"Carl Widger","startTime":4394.78,"endTime":4397.98,"body":"younger people. And, I mean, I'm"},{"speaker":"Carl Widger","startTime":4394.78,"endTime":4397.98,"body":"counting myself as a younger"},{"speaker":"Andy Hart","startTime":4397.98,"endTime":4401.88,"body":"person. Yeah, under"},{"speaker":"Andy Hart","startTime":4397.98,"endTime":4401.88,"body":"50 is very I'm finding that the"},{"speaker":"Andy Hart","startTime":4401.88,"endTime":4402.36,"body":"female"},{"speaker":"Carl Widger","startTime":4402.36,"endTime":4407.28,"body":"is at least as"},{"speaker":"Carl Widger","startTime":4402.36,"endTime":4407.28,"body":"savvy as involved as the male. I"},{"speaker":"Carl Widger","startTime":4407.28,"endTime":4412.74,"body":"had a brilliant comment from a"},{"speaker":"Carl Widger","startTime":4407.28,"endTime":4412.74,"body":"client a couple it's a couple"},{"speaker":"Carl Widger","startTime":4412.74,"endTime":4415.62,"body":"years ago now, at this stage. So"},{"speaker":"Carl Widger","startTime":4412.74,"endTime":4415.62,"body":"tea shock in Ireland is our"},{"speaker":"Carl Widger","startTime":4415.62,"endTime":4419.0599999999995,"body":"prime minister, right? So, so I"},{"speaker":"Carl Widger","startTime":4415.62,"endTime":4419.0599999999995,"body":"said, Who's the Minister for"},{"speaker":"Carl Widger","startTime":4419.0599999999995,"endTime":4422.48,"body":"Finance in your house? So who"},{"speaker":"Carl Widger","startTime":4419.0599999999995,"endTime":4422.48,"body":"does the money? And the husband"},{"speaker":"Carl Widger","startTime":4422.48,"endTime":4422.78,"body":"went"},{"speaker":"Andy Hart","startTime":4422.78,"endTime":4426.08,"body":"like, CMO, but a"},{"speaker":"Andy Hart","startTime":4422.78,"endTime":4426.08,"body":"variation of it, yeah? He said,"},{"speaker":"Andy Hart","startTime":4426.14,"endTime":4427.16,"body":"Oh yeah, that's me"},{"speaker":"Carl Widger","startTime":4427.34,"endTime":4429.98,"body":"and the wife, pipe"},{"speaker":"Carl Widger","startTime":4427.34,"endTime":4429.98,"body":"document. He's the Minister for"},{"speaker":"Carl Widger","startTime":4429.98,"endTime":4435.38,"body":"Finance, but I'm the tea shark."},{"speaker":"Carl Widger","startTime":4429.98,"endTime":4435.38,"body":"Yeah, yeah. He thinks he's all"},{"speaker":"Carl Widger","startTime":4435.38,"endTime":4436.7,"body":"the control, but basically I"},{"speaker":"Unknown","startTime":4436.7,"endTime":4439.12,"body":"can try for the money,"},{"speaker":"Unknown","startTime":4436.7,"endTime":4439.12,"body":"I look after everything, but,"},{"speaker":"Carl Widger","startTime":4439.5999999999995,"endTime":4442.42,"body":"you know, but you"},{"speaker":"Carl Widger","startTime":4439.5999999999995,"endTime":4442.42,"body":"think, I do think from a from a"},{"speaker":"Carl Widger","startTime":4442.48,"endTime":4445.0599999999995,"body":"female point of view, I think"},{"speaker":"Carl Widger","startTime":4442.48,"endTime":4445.0599999999995,"body":"there's, you know, it's"},{"speaker":"Carl Widger","startTime":4445.0599999999995,"endTime":4449.92,"body":"definitely becoming more equal."},{"speaker":"Carl Widger","startTime":4445.0599999999995,"endTime":4449.92,"body":"And I can tell you, in more"},{"speaker":"Carl Widger","startTime":4449.92,"endTime":4453.4,"body":"clued up, yeah, I am talking to"},{"speaker":"Carl Widger","startTime":4449.92,"endTime":4453.4,"body":"my daughters. You know, never be"},{"speaker":"Carl Widger","startTime":4453.4,"endTime":4456.54,"body":"dependent on anybody else. And,"},{"speaker":"Carl Widger","startTime":4453.4,"endTime":4456.54,"body":"you know, have your own"},{"speaker":"Carl Widger","startTime":4456.54,"endTime":4458.7,"body":"independence. So it's there is a"},{"speaker":"Alan Smith","startTime":4458.7,"endTime":4461.16,"body":"good for the better."},{"speaker":"Alan Smith","startTime":4458.7,"endTime":4461.16,"body":"For sure, there's research that"},{"speaker":"Alan Smith","startTime":4461.16,"endTime":4464.16,"body":"I remember reading a while ago"},{"speaker":"Alan Smith","startTime":4461.16,"endTime":4464.16,"body":"that said, regardless of in a"},{"speaker":"Alan Smith","startTime":4464.16,"endTime":4468.66,"body":"face to face situation, who says"},{"speaker":"Alan Smith","startTime":4464.16,"endTime":4468.66,"body":"the most? That 77 like 70%"},{"speaker":"Alan Smith","startTime":4469.0199999999995,"endTime":4471.5999999999995,"body":"across the board, of financial"},{"speaker":"Alan Smith","startTime":4469.0199999999995,"endTime":4471.5999999999995,"body":"decision household financial"},{"speaker":"Alan Smith","startTime":4471.5999999999995,"endTime":4474.3,"body":"decisions are taken by in this"},{"speaker":"Alan Smith","startTime":4471.5999999999995,"endTime":4474.3,"body":"case, in a normal females, yeah,"},{"speaker":"Alan Smith","startTime":4475.08,"endTime":4477.98,"body":"humor decisions, what to do with"},{"speaker":"Alan Smith","startTime":4475.08,"endTime":4477.98,"body":"the household,"},{"speaker":"Nick Lincoln","startTime":4477.98,"endTime":4480.5,"body":"the budget. Women"},{"speaker":"Nick Lincoln","startTime":4477.98,"endTime":4480.5,"body":"make money, consumer decisions,"},{"speaker":"Nick Lincoln","startTime":4480.5,"endTime":4485.12,"body":"no, that's been proven. Jordan"},{"speaker":"Nick Lincoln","startTime":4480.5,"endTime":4485.12,"body":"Peterson, Cathy"},{"speaker":"Alan Smith","startTime":4485.12,"endTime":4489.0199999999995,"body":"Newman, oh, okay,"},{"speaker":"Alan Smith","startTime":4485.12,"endTime":4489.0199999999995,"body":"yeah, yes, I wonder where you"},{"speaker":"Alan Smith","startTime":4489.0199999999995,"endTime":4493.04,"body":"were going there. Just, I just"},{"speaker":"Alan Smith","startTime":4489.0199999999995,"endTime":4493.04,"body":"want one last sort of throw away"},{"speaker":"Alan Smith","startTime":4493.04,"endTime":4496.16,"body":"my own personal experience. I"},{"speaker":"Alan Smith","startTime":4493.04,"endTime":4496.16,"body":"remember this conversation has"},{"speaker":"Alan Smith","startTime":4496.16,"endTime":4501.94,"body":"reminded me, years ago, cat and"},{"speaker":"Alan Smith","startTime":4496.16,"endTime":4501.94,"body":"I, my missus and I were going to"},{"speaker":"Alan Smith","startTime":4501.94,"endTime":4506.92,"body":"get our wills updated and done,"},{"speaker":"Alan Smith","startTime":4501.94,"endTime":4506.92,"body":"and went to a proper London law"},{"speaker":"Alan Smith","startTime":4506.92,"endTime":4510.4,"body":"firm who had been recommended to"},{"speaker":"Alan Smith","startTime":4506.92,"endTime":4510.4,"body":"sat there in a proper London"},{"speaker":"Alan Smith","startTime":4510.4,"endTime":4515.0199999999995,"body":"desk office, and the guy, you"},{"speaker":"Alan Smith","startTime":4510.4,"endTime":4515.0199999999995,"body":"know, perfectly nice male,"},{"speaker":"Alan Smith","startTime":4515.08,"endTime":4519.0,"body":"typical lawyer, do a family"},{"speaker":"Alan Smith","startTime":4515.08,"endTime":4519.0,"body":"lawyer, and I was a bit"},{"speaker":"Alan Smith","startTime":4519.18,"endTime":4521.94,"body":"uncomfortable whilst he was"},{"speaker":"Alan Smith","startTime":4519.18,"endTime":4521.94,"body":"doing it, because we just kept"},{"speaker":"Alan Smith","startTime":4521.94,"endTime":4525.18,"body":"on just talking to me. I Yeah,"},{"speaker":"Alan Smith","startTime":4521.94,"endTime":4525.18,"body":"eye contact to me, eye contact"},{"speaker":"Alan Smith","startTime":4525.18,"endTime":4528.12,"body":"to me. Ignored her the whole"},{"speaker":"Alan Smith","startTime":4525.18,"endTime":4528.12,"body":"time. And you boys know, my"},{"speaker":"Alan Smith","startTime":4528.12,"endTime":4529.98,"body":"other half, they could add too"},{"speaker":"Alan Smith","startTime":4528.12,"endTime":4529.98,"body":"well."},{"speaker":"Unknown","startTime":4531.9,"endTime":4534.18,"body":"We see that one ending,"},{"speaker":"Unknown","startTime":4531.9,"endTime":4534.18,"body":"well, no,"},{"speaker":"Alan Smith","startTime":4534.18,"endTime":4536.9,"body":"so we came out of"},{"speaker":"Alan Smith","startTime":4534.18,"endTime":4536.9,"body":"that, you know, did all the you"},{"speaker":"Alan Smith","startTime":4536.9,"endTime":4539.24,"body":"know, had all the conversation?"},{"speaker":"Alan Smith","startTime":4536.9,"endTime":4539.24,"body":"Of course, it's funny when you"},{"speaker":"Alan Smith","startTime":4539.24,"endTime":4541.64,"body":"have a when you engage in a"},{"speaker":"Alan Smith","startTime":4539.24,"endTime":4541.64,"body":"conversation, because it takes a"},{"speaker":"Alan Smith","startTime":4541.64,"endTime":4543.86,"body":"while to notice it, because"},{"speaker":"Alan Smith","startTime":4541.64,"endTime":4543.86,"body":"someone's just talking to you,"},{"speaker":"Alan Smith","startTime":4543.86,"endTime":4546.5,"body":"and I'm answering his questions,"},{"speaker":"Alan Smith","startTime":4543.86,"endTime":4546.5,"body":"or what have you, and then even,"},{"speaker":"Alan Smith","startTime":4546.5,"endTime":4548.24,"body":"you know, sort of halfway"},{"speaker":"Alan Smith","startTime":4546.5,"endTime":4548.24,"body":"through, I'm thinking, oh, you"},{"speaker":"Alan Smith","startTime":4548.24,"endTime":4552.5,"body":"should probably speak to her as"},{"speaker":"Alan Smith","startTime":4548.24,"endTime":4552.5,"body":"well. We, we came, we came out"},{"speaker":"Alan Smith","startTime":4552.5,"endTime":4554.48,"body":"of that. She just, we just"},{"speaker":"Alan Smith","startTime":4552.5,"endTime":4554.48,"body":"walked down the street. She"},{"speaker":"Alan Smith","startTime":4554.48,"endTime":4557.78,"body":"says, we are not using them, end"},{"speaker":"Alan Smith","startTime":4554.48,"endTime":4557.78,"body":"of story. So, right."},{"speaker":"Unknown","startTime":4558.92,"endTime":4561.16,"body":"I No, there's no"},{"speaker":"Unknown","startTime":4558.92,"endTime":4561.16,"body":"comeback,"},{"speaker":"Alan Smith","startTime":4563.559,"endTime":4565.3589999999995,"body":"but isn't that the"},{"speaker":"Alan Smith","startTime":4563.559,"endTime":4565.3589999999995,"body":"point? And I don't know, don't"},{"speaker":"Alan Smith","startTime":4565.3589999999995,"endTime":4568.239,"body":"know the circumstances of I"},{"speaker":"Alan Smith","startTime":4565.3589999999995,"endTime":4568.239,"body":"mean, I know your team, Carl,"},{"speaker":"Alan Smith","startTime":4568.239,"endTime":4571.179,"body":"they're a great bunch of people,"},{"speaker":"Alan Smith","startTime":4568.239,"endTime":4571.179,"body":"but who knows? Who knows if the"},{"speaker":"Alan Smith","startTime":4571.179,"endTime":4574.179,"body":"person wasn't felt that they"},{"speaker":"Alan Smith","startTime":4571.179,"endTime":4574.179,"body":"weren't acknowledged, weren't"},{"speaker":"Alan Smith","startTime":4574.179,"endTime":4577.3189999999995,"body":"loved, weren't taken care of,"},{"speaker":"Alan Smith","startTime":4574.179,"endTime":4577.3189999999995,"body":"weren't listened. Two these are"},{"speaker":"Alan Smith","startTime":4577.3189999999995,"endTime":4580.3189999999995,"body":"the circumstances. This can"},{"speaker":"Alan Smith","startTime":4577.3189999999995,"endTime":4580.3189999999995,"body":"happen to all of us. Yeah, pay"},{"speaker":"Alan Smith","startTime":4580.3189999999995,"endTime":4584.039,"body":"attention to everyone in the"},{"speaker":"Alan Smith","startTime":4580.3189999999995,"endTime":4584.039,"body":"room. Okay, Nicholas,"},{"speaker":"Nick Lincoln","startTime":4584.04,"endTime":4586.62,"body":"Nicholas,"},{"speaker":"Nick Lincoln","startTime":4584.04,"endTime":4586.62,"body":"Nicholas, lick. Nicholas, I'll"},{"speaker":"Nick Lincoln","startTime":4586.62,"endTime":4590.34,"body":"go last. I'll be quick on this."},{"speaker":"Nick Lincoln","startTime":4586.62,"endTime":4590.34,"body":"So I Yes, I've always said it. I"},{"speaker":"Nick Lincoln","startTime":4590.34,"endTime":4593.4,"body":"echo what all the trap. I"},{"speaker":"Nick Lincoln","startTime":4590.34,"endTime":4593.4,"body":"believe that in the onboarding"},{"speaker":"Nick Lincoln","startTime":4593.4,"endTime":4595.5,"body":"process, you have both couples"},{"speaker":"Nick Lincoln","startTime":4593.4,"endTime":4595.5,"body":"there, or you don't go ahead,"},{"speaker":"Nick Lincoln","startTime":4595.5,"endTime":4598.0199999999995,"body":"it's an immediate red flag once"},{"speaker":"Nick Lincoln","startTime":4595.5,"endTime":4598.0199999999995,"body":"they come on board and you've"},{"speaker":"Nick Lincoln","startTime":4598.0199999999995,"endTime":4601.4,"body":"got a relationship. Okay, maybe"},{"speaker":"Nick Lincoln","startTime":4598.0199999999995,"endTime":4601.4,"body":"every third or fourth year, one"},{"speaker":"Nick Lincoln","startTime":4601.4,"endTime":4603.62,"body":"of them and step out, they're"},{"speaker":"Nick Lincoln","startTime":4601.4,"endTime":4603.62,"body":"just too busy to attend, and"},{"speaker":"Nick Lincoln","startTime":4603.62,"endTime":4606.5,"body":"things haven't massively changed"},{"speaker":"Nick Lincoln","startTime":4603.62,"endTime":4606.5,"body":"in their financial plan. But you"},{"speaker":"Nick Lincoln","startTime":4606.5,"endTime":4609.14,"body":"always address both of them. You"},{"speaker":"Nick Lincoln","startTime":4606.5,"endTime":4609.14,"body":"always try and get both of them"},{"speaker":"Nick Lincoln","startTime":4609.14,"endTime":4611.72,"body":"talking. You always try and get"},{"speaker":"Nick Lincoln","startTime":4609.14,"endTime":4611.72,"body":"the quieter one talking, whether"},{"speaker":"Nick Lincoln","startTime":4611.72,"endTime":4615.5,"body":"it's the male, whether it's the"},{"speaker":"Nick Lincoln","startTime":4611.72,"endTime":4615.5,"body":"female, and you listen, and you"},{"speaker":"Nick Lincoln","startTime":4615.5,"endTime":4618.22,"body":"show that you're listening. My"},{"speaker":"Nick Lincoln","startTime":4615.5,"endTime":4618.22,"body":"conundrum with clients is the"},{"speaker":"Nick Lincoln","startTime":4618.22,"endTime":4620.74,"body":"ongoing thing, as I said at the"},{"speaker":"Nick Lincoln","startTime":4618.22,"endTime":4620.74,"body":"start of the meat and potatoes,"},{"speaker":"Nick Lincoln","startTime":4620.74,"endTime":4622.96,"body":"where you've got so I've got"},{"speaker":"Nick Lincoln","startTime":4620.74,"endTime":4622.96,"body":"three examples again, like you"},{"speaker":"Nick Lincoln","startTime":4622.96,"endTime":4625.48,"body":"can't. So I've got to give some"},{"speaker":"Nick Lincoln","startTime":4622.96,"endTime":4625.48,"body":"colors this story, but I want to"},{"speaker":"Nick Lincoln","startTime":4625.48,"endTime":4628.9,"body":"give it away, kind of thing. But"},{"speaker":"Nick Lincoln","startTime":4625.48,"endTime":4628.9,"body":"I've got a long term lady client"},{"speaker":"Nick Lincoln","startTime":4628.9,"endTime":4633.28,"body":"who, in her 40s, married last"},{"speaker":"Nick Lincoln","startTime":4628.9,"endTime":4633.28,"body":"year to a guy who perhaps, on"},{"speaker":"Nick Lincoln","startTime":4633.28,"endTime":4636.96,"body":"paper, I wouldn't take on as a"},{"speaker":"Nick Lincoln","startTime":4633.28,"endTime":4636.96,"body":"client, personality wise, I"},{"speaker":"Nick Lincoln","startTime":4636.96,"endTime":4639.54,"body":"think we're okay, but he has"},{"speaker":"Nick Lincoln","startTime":4636.96,"endTime":4639.54,"body":"come into her life. She's going"},{"speaker":"Nick Lincoln","startTime":4639.54,"endTime":4642.66,"body":"to inherit some significant"},{"speaker":"Nick Lincoln","startTime":4639.54,"endTime":4642.66,"body":"money, and he doesn't have much"},{"speaker":"Nick Lincoln","startTime":4642.66,"endTime":4646.5599999999995,"body":"money, and you're kind of almost"},{"speaker":"Nick Lincoln","startTime":4642.66,"endTime":4646.5599999999995,"body":"protecting these people as well."},{"speaker":"Nick Lincoln","startTime":4646.5599999999995,"endTime":4650.16,"body":"I was looking, if that sounds"},{"speaker":"Nick Lincoln","startTime":4646.5599999999995,"endTime":4650.16,"body":"condescending, or man standing,"},{"speaker":"Nick Lincoln","startTime":4650.16,"endTime":4652.98,"body":"I don't give it that. I was just"},{"speaker":"Nick Lincoln","startTime":4650.16,"endTime":4652.98,"body":"part of me was thinking the back"},{"speaker":"Nick Lincoln","startTime":4652.98,"endTime":4657.8,"body":"of my mind, you know, I hope"},{"speaker":"Nick Lincoln","startTime":4652.98,"endTime":4657.8,"body":"that this lady's family have"},{"speaker":"Nick Lincoln","startTime":4657.8,"endTime":4659.84,"body":"looked into this guy and"},{"speaker":"Nick Lincoln","startTime":4657.8,"endTime":4659.84,"body":"everything. He seems actually"},{"speaker":"Nick Lincoln","startTime":4659.84,"endTime":4662.9,"body":"now to be to be fine, but you"},{"speaker":"Nick Lincoln","startTime":4659.84,"endTime":4662.9,"body":"just have these red flags. Now"},{"speaker":"Nick Lincoln","startTime":4662.9,"endTime":4665.3,"body":"he's coming to the financial"},{"speaker":"Nick Lincoln","startTime":4662.9,"endTime":4665.3,"body":"plan, but it took a while"},{"speaker":"Nick Lincoln","startTime":4665.3,"endTime":4668.36,"body":"because this client, the lady's"},{"speaker":"Nick Lincoln","startTime":4665.3,"endTime":4668.36,"body":"been a client of mine for years"},{"speaker":"Nick Lincoln","startTime":4668.36,"endTime":4670.94,"body":"and years, and now I've got to"},{"speaker":"Nick Lincoln","startTime":4668.36,"endTime":4670.94,"body":"sort of sell what I do to him."},{"speaker":"Nick Lincoln","startTime":4670.94,"endTime":4673.58,"body":"He doesn't know me from Adam."},{"speaker":"Nick Lincoln","startTime":4670.94,"endTime":4673.58,"body":"Doesn't understand financial"},{"speaker":"Nick Lincoln","startTime":4673.58,"endTime":4676.04,"body":"planning. I think he's bought"},{"speaker":"Nick Lincoln","startTime":4673.58,"endTime":4676.04,"body":"it. We had our first joint zoom"},{"speaker":"Nick Lincoln","startTime":4676.04,"endTime":4679.0599999999995,"body":"annual planning meeting last"},{"speaker":"Nick Lincoln","startTime":4676.04,"endTime":4679.0599999999995,"body":"year, and he's responded with"},{"speaker":"Nick Lincoln","startTime":4679.0599999999995,"endTime":4681.64,"body":"information I requested. That"},{"speaker":"Nick Lincoln","startTime":4679.0599999999995,"endTime":4681.64,"body":"seems to work well, but you got"},{"speaker":"Nick Lincoln","startTime":4681.64,"endTime":4684.58,"body":"to really tread through it"},{"speaker":"Nick Lincoln","startTime":4681.64,"endTime":4684.58,"body":"carefully. Second case is a lady"},{"speaker":"Nick Lincoln","startTime":4684.58,"endTime":4687.34,"body":"I saw yesterday online, because"},{"speaker":"Nick Lincoln","startTime":4684.58,"endTime":4687.34,"body":"I don't waste my bank holiday"},{"speaker":"Nick Lincoln","startTime":4687.34,"endTime":4689.44,"body":"Mondays me, we had a Zoom"},{"speaker":"Nick Lincoln","startTime":4687.34,"endTime":4689.44,"body":"meeting with this lady. She's"},{"speaker":"Nick Lincoln","startTime":4689.44,"endTime":4692.08,"body":"the partner of a long standing"},{"speaker":"Nick Lincoln","startTime":4689.44,"endTime":4692.08,"body":"class of mine, a widower, a guy"},{"speaker":"Nick Lincoln","startTime":4692.08,"endTime":4695.8,"body":"who lost his wife, has children,"},{"speaker":"Nick Lincoln","startTime":4692.08,"endTime":4695.8,"body":"and him and her are now together"},{"speaker":"Nick Lincoln","startTime":4695.8,"endTime":4699.72,"body":"as a as a couple, and she wants"},{"speaker":"Nick Lincoln","startTime":4695.8,"endTime":4699.72,"body":"some advice on her pensions and"},{"speaker":"Nick Lincoln","startTime":4699.72,"endTime":4702.5999999999995,"body":"everything. Again, he has got"},{"speaker":"Nick Lincoln","startTime":4699.72,"endTime":4702.5999999999995,"body":"considerably more assets than"},{"speaker":"Nick Lincoln","startTime":4702.5999999999995,"endTime":4705.0599999999995,"body":"her in this relationship. And"},{"speaker":"Nick Lincoln","startTime":4702.5999999999995,"endTime":4705.0599999999995,"body":"towards the end of the meeting,"},{"speaker":"Nick Lincoln","startTime":4705.0599999999995,"endTime":4707.46,"body":"which is an exploratory get to"},{"speaker":"Nick Lincoln","startTime":4705.0599999999995,"endTime":4707.46,"body":"know you, kind of meeting, I"},{"speaker":"Nick Lincoln","startTime":4707.46,"endTime":4712.0199999999995,"body":"said to the lady, it'd be really"},{"speaker":"Nick Lincoln","startTime":4707.46,"endTime":4712.0199999999995,"body":"good if you and your fella at"},{"speaker":"Nick Lincoln","startTime":4712.0199999999995,"endTime":4714.0599999999995,"body":"the next annual planning"},{"speaker":"Nick Lincoln","startTime":4712.0199999999995,"endTime":4714.0599999999995,"body":"meeting, which, like I said,"},{"speaker":"Nick Lincoln","startTime":4714.0599999999995,"endTime":4717.26,"body":"were scheduled to contact your"},{"speaker":"Nick Lincoln","startTime":4714.0599999999995,"endTime":4717.26,"body":"chap in in October, if the two"},{"speaker":"Nick Lincoln","startTime":4717.26,"endTime":4720.86,"body":"of you can do it together. And I"},{"speaker":"Nick Lincoln","startTime":4717.26,"endTime":4720.86,"body":"it was really difficult, because"},{"speaker":"Nick Lincoln","startTime":4720.98,"endTime":4723.8,"body":"I said, on the assumption you're"},{"speaker":"Nick Lincoln","startTime":4720.98,"endTime":4723.8,"body":"going to be together at the time"},{"speaker":"Nick Lincoln","startTime":4723.8,"endTime":4726.32,"body":"you this is a long going forward"},{"speaker":"Nick Lincoln","startTime":4723.8,"endTime":4726.32,"body":"relationship, you gotta, you"},{"speaker":"Nick Lincoln","startTime":4726.32,"endTime":4728.24,"body":"gotta get out there. I said,"},{"speaker":"Nick Lincoln","startTime":4726.32,"endTime":4728.24,"body":"basically, I said, I can't"},{"speaker":"Nick Lincoln","startTime":4728.24,"endTime":4731.0599999999995,"body":"advise you in a silo, and I"},{"speaker":"Nick Lincoln","startTime":4728.24,"endTime":4731.0599999999995,"body":"can't advise him in a silo. You"},{"speaker":"Nick Lincoln","startTime":4731.0599999999995,"endTime":4733.28,"body":"are a couple, until you tell me"},{"speaker":"Nick Lincoln","startTime":4731.0599999999995,"endTime":4733.28,"body":"otherwise, so you've really got"},{"speaker":"Nick Lincoln","startTime":4733.28,"endTime":4735.8,"body":"to come on board. But my phrase,"},{"speaker":"Nick Lincoln","startTime":4733.28,"endTime":4735.8,"body":"you what I witnessed as I was"},{"speaker":"Nick Lincoln","startTime":4735.8,"endTime":4739.84,"body":"saying it. But, you know, so I"},{"speaker":"Nick Lincoln","startTime":4735.8,"endTime":4739.84,"body":"said, just when we've done this"},{"speaker":"Nick Lincoln","startTime":4739.84,"endTime":4742.18,"body":"meeting, go back and tell your"},{"speaker":"Nick Lincoln","startTime":4739.84,"endTime":4742.18,"body":"chat you've met this strange guy"},{"speaker":"Nick Lincoln","startTime":4742.18,"endTime":4744.58,"body":"online. Yeah, I think I can work"},{"speaker":"Nick Lincoln","startTime":4742.18,"endTime":4744.58,"body":"with him. And then yes, at the"},{"speaker":"Nick Lincoln","startTime":4744.58,"endTime":4747.22,"body":"next Annual Academy. See, we do"},{"speaker":"Nick Lincoln","startTime":4744.58,"endTime":4747.22,"body":"it together, but it's navigate"},{"speaker":"Nick Lincoln","startTime":4747.22,"endTime":4750.22,"body":"and the final one, the final"},{"speaker":"Nick Lincoln","startTime":4747.22,"endTime":4750.22,"body":"this client can under business,"},{"speaker":"Nick Lincoln","startTime":4750.22,"endTime":4753.4,"body":"is when you have children of"},{"speaker":"Nick Lincoln","startTime":4750.22,"endTime":4753.4,"body":"existing clients, refer to you"},{"speaker":"Nick Lincoln","startTime":4754.0,"endTime":4756.84,"body":"again. I don't give too much"},{"speaker":"Nick Lincoln","startTime":4754.0,"endTime":4756.84,"body":"away, but they're this couple of"},{"speaker":"Nick Lincoln","startTime":4756.9,"endTime":4759.48,"body":"close to being my longest"},{"speaker":"Nick Lincoln","startTime":4756.9,"endTime":4759.48,"body":"standing clients, going back to"},{"speaker":"Nick Lincoln","startTime":4759.48,"endTime":4763.44,"body":"the early noughties. And they"},{"speaker":"Nick Lincoln","startTime":4759.48,"endTime":4763.44,"body":"referred their son to me a"},{"speaker":"Nick Lincoln","startTime":4763.44,"endTime":4765.96,"body":"couple of years ago, and I've"},{"speaker":"Nick Lincoln","startTime":4763.44,"endTime":4765.96,"body":"worked with him, personality"},{"speaker":"Nick Lincoln","startTime":4765.96,"endTime":4769.92,"body":"wise, we're not that simpatico,"},{"speaker":"Nick Lincoln","startTime":4765.96,"endTime":4769.92,"body":"but he was the son of existing"},{"speaker":"Nick Lincoln","startTime":4769.92,"endTime":4772.62,"body":"clients, and I tried to give it"},{"speaker":"Nick Lincoln","startTime":4769.92,"endTime":4772.62,"body":"a go. We've got our zoom annual"},{"speaker":"Nick Lincoln","startTime":4772.62,"endTime":4775.68,"body":"planning meeting tomorrow. He"},{"speaker":"Nick Lincoln","startTime":4772.62,"endTime":4775.68,"body":"sold a property in the last 12"},{"speaker":"Nick Lincoln","startTime":4775.68,"endTime":4778.5,"body":"months, and I know he's invested"},{"speaker":"Nick Lincoln","startTime":4775.68,"endTime":4778.5,"body":"the assets elsewhere, not thrown"},{"speaker":"Nick Lincoln","startTime":4778.5,"endTime":4781.22,"body":"under my horse. Under my"},{"speaker":"Nick Lincoln","startTime":4778.5,"endTime":4781.22,"body":"auspices, which, which is"},{"speaker":"Nick Lincoln","startTime":4781.22,"endTime":4784.4,"body":"annoying. But he's also put into"},{"speaker":"Nick Lincoln","startTime":4781.22,"endTime":4784.4,"body":"a portfolio of ETFs, and he says"},{"speaker":"Nick Lincoln","startTime":4784.4,"endTime":4787.7,"body":"gilts and bonds. So he's gone"},{"speaker":"Nick Lincoln","startTime":4784.4,"endTime":4787.7,"body":"completely off plan with a"},{"speaker":"Nick Lincoln","startTime":4787.7,"endTime":4790.58,"body":"portfolio that's completely"},{"speaker":"Nick Lincoln","startTime":4787.7,"endTime":4790.58,"body":"inappropriate for his financial"},{"speaker":"Nick Lincoln","startTime":4790.58,"endTime":4793.22,"body":"plan. You know, remembering at"},{"speaker":"Nick Lincoln","startTime":4790.58,"endTime":4793.22,"body":"all times the plan determines"},{"speaker":"Nick Lincoln","startTime":4793.22,"endTime":4796.48,"body":"the portfolio. This guy was"},{"speaker":"Nick Lincoln","startTime":4793.22,"endTime":4796.48,"body":"always fee resistant. From the"},{"speaker":"Nick Lincoln","startTime":4796.48,"endTime":4799.0,"body":"outset, he's probably somebody I"},{"speaker":"Nick Lincoln","startTime":4796.48,"endTime":4799.0,"body":"wouldn't have taken on, but he"},{"speaker":"Nick Lincoln","startTime":4799.0,"endTime":4802.5999999999995,"body":"was the child of very long"},{"speaker":"Nick Lincoln","startTime":4799.0,"endTime":4802.5999999999995,"body":"standing clients, and so I think"},{"speaker":"Nick Lincoln","startTime":4802.5999999999995,"endTime":4804.76,"body":"our zoom planning meeting"},{"speaker":"Nick Lincoln","startTime":4802.5999999999995,"endTime":4804.76,"body":"tomorrow is going to be a case"},{"speaker":"Nick Lincoln","startTime":4804.76,"endTime":4807.88,"body":"of, well, thanks, but we pass as"},{"speaker":"Nick Lincoln","startTime":4804.76,"endTime":4807.88,"body":"friends and good luck. And I am"},{"speaker":"Nick Lincoln","startTime":4807.88,"endTime":4810.04,"body":"a black and white, but, you"},{"speaker":"Nick Lincoln","startTime":4807.88,"endTime":4810.04,"body":"know, I'm black and white, but I"},{"speaker":"Nick Lincoln","startTime":4810.04,"endTime":4812.26,"body":"think all of us to agree are"},{"speaker":"Nick Lincoln","startTime":4810.04,"endTime":4812.26,"body":"quite black and white. I'm very"},{"speaker":"Nick Lincoln","startTime":4812.26,"endTime":4814.78,"body":"black and white. Ultra I think"},{"speaker":"Nick Lincoln","startTime":4812.26,"endTime":4814.78,"body":"it's quite black and white, but"},{"speaker":"Nick Lincoln","startTime":4814.78,"endTime":4817.38,"body":"there is no black and white with"},{"speaker":"Nick Lincoln","startTime":4814.78,"endTime":4817.38,"body":"this. This couple's conundrum,"},{"speaker":"Nick Lincoln","startTime":4817.38,"endTime":4820.62,"body":"thing from losing a partner and"},{"speaker":"Nick Lincoln","startTime":4817.38,"endTime":4820.62,"body":"then dealing with the deceased"},{"speaker":"Nick Lincoln","startTime":4820.92,"endTime":4823.98,"body":"one who's still on this crazy"},{"speaker":"Nick Lincoln","startTime":4820.92,"endTime":4823.98,"body":"spinning globe, and making sure"},{"speaker":"Nick Lincoln","startTime":4823.98,"endTime":4827.16,"body":"you deal with them properly."},{"speaker":"Nick Lincoln","startTime":4823.98,"endTime":4827.16,"body":"Having people who have their"},{"speaker":"Nick Lincoln","startTime":4827.4,"endTime":4830.16,"body":"life partner coming with their"},{"speaker":"Nick Lincoln","startTime":4827.4,"endTime":4830.16,"body":"lives relatively late on, when"},{"speaker":"Nick Lincoln","startTime":4830.16,"endTime":4832.38,"body":"you've been working with the"},{"speaker":"Nick Lincoln","startTime":4830.16,"endTime":4832.38,"body":"solo person for years, and"},{"speaker":"Nick Lincoln","startTime":4832.38,"endTime":4835.0199999999995,"body":"you've got this new thing in the"},{"speaker":"Nick Lincoln","startTime":4832.38,"endTime":4835.0199999999995,"body":"mix, where you've got a widower"},{"speaker":"Nick Lincoln","startTime":4835.0199999999995,"endTime":4838.04,"body":"who finds somebody else, but the"},{"speaker":"Nick Lincoln","startTime":4835.0199999999995,"endTime":4838.04,"body":"wealth disparity is massively"},{"speaker":"Nick Lincoln","startTime":4838.04,"endTime":4841.04,"body":"different. And the children"},{"speaker":"Nick Lincoln","startTime":4838.04,"endTime":4841.04,"body":"thing you know, who wants to say"},{"speaker":"Nick Lincoln","startTime":4841.04,"endTime":4843.8,"body":"to your clients who you love?"},{"speaker":"Nick Lincoln","startTime":4841.04,"endTime":4843.8,"body":"They're really nice people. No,"},{"speaker":"Nick Lincoln","startTime":4843.8,"endTime":4846.5,"body":"I don't want to deal with your"},{"speaker":"Nick Lincoln","startTime":4843.8,"endTime":4846.5,"body":"your son, he doesn't love you're"},{"speaker":"Nick Lincoln","startTime":4846.5,"endTime":4848.78,"body":"going to give him the grace of"},{"speaker":"Nick Lincoln","startTime":4846.5,"endTime":4848.78,"body":"at least a planning meeting."},{"speaker":"Nick Lincoln","startTime":4848.78,"endTime":4851.18,"body":"Aren't even trying to and that's"},{"speaker":"Nick Lincoln","startTime":4848.78,"endTime":4851.18,"body":"where I let my guard out. But I"},{"speaker":"Nick Lincoln","startTime":4851.18,"endTime":4853.5199999999995,"body":"thought I could mold this person"},{"speaker":"Nick Lincoln","startTime":4851.18,"endTime":4853.5199999999995,"body":"around because I like mum and"},{"speaker":"Nick Lincoln","startTime":4853.5199999999995,"endTime":4855.98,"body":"dad, and he must be like mum and"},{"speaker":"Nick Lincoln","startTime":4853.5199999999995,"endTime":4855.98,"body":"dad. And it turns out there's"},{"speaker":"Nick Lincoln","startTime":4855.98,"endTime":4859.3,"body":"not enough of mum and dad in him"},{"speaker":"Nick Lincoln","startTime":4855.98,"endTime":4859.3,"body":"to make it work. And so I've got"},{"speaker":"Nick Lincoln","startTime":4859.3,"endTime":4861.5199999999995,"body":"these three things in my head at"},{"speaker":"Nick Lincoln","startTime":4859.3,"endTime":4861.5199999999995,"body":"the minute. So there we go. So"},{"speaker":"Nick Lincoln","startTime":4861.5199999999995,"endTime":4864.22,"body":"I'm glad we've talked about"},{"speaker":"Nick Lincoln","startTime":4861.5199999999995,"endTime":4864.22,"body":"this. I said Carl is laughing,"},{"speaker":"Nick Lincoln","startTime":4864.22,"endTime":4866.32,"body":"so I'm getting an empathy open"},{"speaker":"Nick Lincoln","startTime":4864.22,"endTime":4866.32,"body":"with you,"},{"speaker":"Carl Widger","startTime":4867.22,"endTime":4870.4,"body":"which is good. This"},{"speaker":"Carl Widger","startTime":4867.22,"endTime":4870.4,"body":"guy isn't like he's not fitting"},{"speaker":"Carl Widger","startTime":4870.4,"endTime":4874.24,"body":"into my practice, like me, so"},{"speaker":"Carl Widger","startTime":4870.4,"endTime":4874.24,"body":"I'm firing him."},{"speaker":"Andy Hart","startTime":4875.08,"endTime":4878.22,"body":"Firefo. Nick, I."},{"speaker":"Andy Hart","startTime":4875.08,"endTime":4878.22,"body":"Crazy mate, yeah, yeah,"},{"speaker":"Nick Lincoln","startTime":4878.22,"endTime":4879.42,"body":"yeah. But how"},{"speaker":"Carl Widger","startTime":4879.42,"endTime":4881.4,"body":"will that, how will"},{"speaker":"Carl Widger","startTime":4879.42,"endTime":4881.4,"body":"that, if you fire him as a"},{"speaker":"Carl Widger","startTime":4881.4,"endTime":4887.22,"body":"client and you're going to do it"},{"speaker":"Carl Widger","startTime":4881.4,"endTime":4887.22,"body":"nicely, and how will that sit"},{"speaker":"Carl Widger","startTime":4887.22,"endTime":4889.44,"body":"with your clients, his parents?"},{"speaker":"Nick Lincoln","startTime":4891.18,"endTime":4893.22,"body":"I think, I think"},{"speaker":"Nick Lincoln","startTime":4891.18,"endTime":4893.22,"body":"they'll be fine. I know,"},{"speaker":"Nick Lincoln","startTime":4893.22,"endTime":4896.42,"body":"obviously I'm going to, I'll"},{"speaker":"Nick Lincoln","startTime":4893.22,"endTime":4896.42,"body":"part with this chat. I think, I"},{"speaker":"Nick Lincoln","startTime":4896.42,"endTime":4898.82,"body":"mean, I mean, I haven't even"},{"speaker":"Nick Lincoln","startTime":4896.42,"endTime":4898.82,"body":"done it yet. I mean, Christ, if"},{"speaker":"Nick Lincoln","startTime":4898.82,"endTime":4901.58,"body":"it happens tomorrow, I'll do it"},{"speaker":"Nick Lincoln","startTime":4898.82,"endTime":4901.58,"body":"with all the grace I can master."},{"speaker":"Nick Lincoln","startTime":4901.58,"endTime":4903.92,"body":"And I think it'll be fine. He'll"},{"speaker":"Nick Lincoln","startTime":4901.58,"endTime":4903.92,"body":"be fine to go up on his own. All"},{"speaker":"Nick Lincoln","startTime":4903.92,"endTime":4906.32,"body":"that manages his pension part,"},{"speaker":"Nick Lincoln","startTime":4903.92,"endTime":4906.32,"body":"and he can, if he set up"},{"speaker":"Nick Lincoln","startTime":4906.32,"endTime":4909.62,"body":"investments on his own, he can"},{"speaker":"Nick Lincoln","startTime":4906.32,"endTime":4909.62,"body":"switch his pension to a platform"},{"speaker":"Nick Lincoln","startTime":4909.62,"endTime":4911.0599999999995,"body":"on his own as"},{"speaker":"Andy Hart","startTime":4911.18,"endTime":4913.88,"body":"well. Yeah, yeah. Go"},{"speaker":"Andy Hart","startTime":4911.18,"endTime":4913.88,"body":"on. We might be overthinking it"},{"speaker":"Andy Hart","startTime":4913.88,"endTime":4916.28,"body":"in our world. It's like their"},{"speaker":"Andy Hart","startTime":4913.88,"endTime":4916.28,"body":"clients for life. They can never"},{"speaker":"Andy Hart","startTime":4916.28,"endTime":4919.18,"body":"leave us. You know, it's a"},{"speaker":"Andy Hart","startTime":4916.28,"endTime":4919.18,"body":"personal insight. If we part"},{"speaker":"Andy Hart","startTime":4919.18,"endTime":4922.12,"body":"relationships, was in the family"},{"speaker":"Andy Hart","startTime":4919.18,"endTime":4922.12,"body":"like, I've decided to not work"},{"speaker":"Andy Hart","startTime":4922.12,"endTime":4925.54,"body":"with Nick anymore. Okay, fine."},{"speaker":"Andy Hart","startTime":4922.12,"endTime":4925.54,"body":"We utilize, yeah, it could be a"},{"speaker":"Andy Hart","startTime":4925.54,"endTime":4927.7,"body":"big thing. It might be quite"},{"speaker":"Andy Hart","startTime":4925.54,"endTime":4927.7,"body":"blase."},{"speaker":"Nick Lincoln","startTime":4927.7,"endTime":4930.76,"body":"How the parents"},{"speaker":"Nick Lincoln","startTime":4927.7,"endTime":4930.76,"body":"take it. I don't, I think, I"},{"speaker":"Nick Lincoln","startTime":4930.76,"endTime":4935.14,"body":"think they probably think we"},{"speaker":"Nick Lincoln","startTime":4930.76,"endTime":4935.14,"body":"know our kid better than you do."},{"speaker":"Nick Lincoln","startTime":4935.14,"endTime":4937.92,"body":"We're not so badly surprised."},{"speaker":"Nick Lincoln","startTime":4935.14,"endTime":4937.92,"body":"They won't that course, but"},{"speaker":"Andy Hart","startTime":4939.0,"endTime":4940.62,"body":"they probably know"},{"speaker":"Andy Hart","startTime":4939.0,"endTime":4940.62,"body":"he's a nightmare. And they"},{"speaker":"Andy Hart","startTime":4940.62,"endTime":4943.32,"body":"probably, you know, they're"},{"speaker":"Andy Hart","startTime":4940.62,"endTime":4943.32,"body":"expecting, they're expecting him"},{"speaker":"Andy Hart","startTime":4943.32,"endTime":4943.86,"body":"to leave"},{"speaker":"Carl Widger","startTime":4944.82,"endTime":4947.88,"body":"you the world, I"},{"speaker":"Carl Widger","startTime":4944.82,"endTime":4947.88,"body":"know we've sounds"},{"speaker":"Nick Lincoln","startTime":4949.68,"endTime":4951.96,"body":"terrible. He's"},{"speaker":"Nick Lincoln","startTime":4949.68,"endTime":4951.96,"body":"just not, he's just not, not a"},{"speaker":"Nick Lincoln","startTime":4951.96,"endTime":4955.5,"body":"fit. And the moment you go"},{"speaker":"Nick Lincoln","startTime":4951.96,"endTime":4955.5,"body":"invest, you know, offline, you"},{"speaker":"Nick Lincoln","startTime":4955.5,"endTime":4956.3,"body":"know. And he just Yeah,"},{"speaker":"Alan Smith","startTime":4956.3,"endTime":4959.18,"body":"but he hasn't. He"},{"speaker":"Alan Smith","startTime":4956.3,"endTime":4959.18,"body":"hasn't learned how good you can"},{"speaker":"Alan Smith","startTime":4959.18,"endTime":4961.94,"body":"be. Yeah, you sold yourself to"},{"speaker":"Alan Smith","startTime":4959.18,"endTime":4961.94,"body":"him."},{"speaker":"Nick Lincoln","startTime":4962.36,"endTime":4965.5999999999995,"body":"Well, I probably"},{"speaker":"Nick Lincoln","startTime":4962.36,"endTime":4965.5999999999995,"body":"know, but the problem to come"},{"speaker":"Nick Lincoln","startTime":4965.5999999999995,"endTime":4968.96,"body":"back, I wouldn't have if I'd met"},{"speaker":"Nick Lincoln","startTime":4965.5999999999995,"endTime":4968.96,"body":"him cold without any of that."},{"speaker":"Nick Lincoln","startTime":4968.96,"endTime":4972.0199999999995,"body":"You wouldn't, I wouldn't, would"},{"speaker":"Nick Lincoln","startTime":4968.96,"endTime":4972.0199999999995,"body":"not come, on, yeah, would not"},{"speaker":"Nick Lincoln","startTime":4972.0199999999995,"endTime":4976.82,"body":"come but I thought, Well, okay,"},{"speaker":"Nick Lincoln","startTime":4972.0199999999995,"endTime":4976.82,"body":"you know, yeah, there you go."},{"speaker":"Nick Lincoln","startTime":4976.82,"endTime":4979.24,"body":"Lesson, that one lesson that I"},{"speaker":"Nick Lincoln","startTime":4976.82,"endTime":4979.24,"body":"do it again, because I don't"},{"speaker":"Nick Lincoln","startTime":4979.24,"endTime":4981.28,"body":"again. You know, you got to be"},{"speaker":"Nick Lincoln","startTime":4979.24,"endTime":4981.28,"body":"really careful around this."},{"speaker":"Nick Lincoln","startTime":4981.28,"endTime":4985.72,"body":"We're dealing with the people,"},{"speaker":"Nick Lincoln","startTime":4981.28,"endTime":4985.72,"body":"the children of clients, are the"},{"speaker":"Nick Lincoln","startTime":4985.72,"endTime":4988.42,"body":"people they love most in the"},{"speaker":"Nick Lincoln","startTime":4985.72,"endTime":4988.42,"body":"world. Right? That you hope"},{"speaker":"Nick Lincoln","startTime":4988.42,"endTime":4990.82,"body":"typically, right? We all love"},{"speaker":"Nick Lincoln","startTime":4988.42,"endTime":4990.82,"body":"our children, and we're all one"},{"speaker":"Nick Lincoln","startTime":4990.82,"endTime":4993.0999999999995,"body":"eyed about it, and we all have"},{"speaker":"Nick Lincoln","startTime":4990.82,"endTime":4993.0999999999995,"body":"unconditional love. So you've"},{"speaker":"Nick Lincoln","startTime":4993.0999999999995,"endTime":4995.62,"body":"got to just think, oh, no, I met"},{"speaker":"Nick Lincoln","startTime":4993.0999999999995,"endTime":4995.62,"body":"your son. I suppose we have a"},{"speaker":"Nick Lincoln","startTime":4995.62,"endTime":4999.3,"body":"toss up. So I'm not gonna give"},{"speaker":"Nick Lincoln","startTime":4995.62,"endTime":4999.3,"body":"the grace it might not be"},{"speaker":"Nick Lincoln","startTime":4999.3,"endTime":5003.8,"body":"received too well, right?"},{"speaker":"Andy Hart","startTime":5004.82,"endTime":5008.78,"body":"Final point before we"},{"speaker":"Andy Hart","startTime":5004.82,"endTime":5008.78,"body":"wrap up, I I've certainly had"},{"speaker":"Andy Hart","startTime":5008.78,"endTime":5014.12,"body":"four clients pass away. All four"},{"speaker":"Andy Hart","startTime":5008.78,"endTime":5014.12,"body":"men, male and husbands and all"},{"speaker":"Andy Hart","startTime":5014.12,"endTime":5017.62,"body":"four of the wives have continued"},{"speaker":"Andy Hart","startTime":5014.12,"endTime":5017.62,"body":"to work with me. So again,"},{"speaker":"Unknown","startTime":5019.12,"endTime":5019.54,"body":"no"},{"speaker":"Andy Hart","startTime":5023.2,"endTime":5026.26,"body":"play it, because I've"},{"speaker":"Andy Hart","startTime":5023.2,"endTime":5026.26,"body":"set my stall out from the"},{"speaker":"Andy Hart","startTime":5026.5,"endTime":5030.7,"body":"beginning. Couples and family"},{"speaker":"Andy Hart","startTime":5026.5,"endTime":5030.7,"body":"happened to me, Carl, I could"},{"speaker":"Andy Hart","startTime":5030.76,"endTime":5034.54,"body":"have easy of lost. I'm just"},{"speaker":"Andy Hart","startTime":5030.76,"endTime":5034.54,"body":"saying I've been very lucky that"},{"speaker":"Andy Hart","startTime":5034.54,"endTime":5037.86,"body":"that's not happened, and it's"},{"speaker":"Andy Hart","startTime":5034.54,"endTime":5037.86,"body":"often, and it's always, it's"},{"speaker":"Andy Hart","startTime":5037.92,"endTime":5040.62,"body":"own. It's been four males. I've"},{"speaker":"Andy Hart","startTime":5037.92,"endTime":5040.62,"body":"lost four, four husbands."},{"speaker":"Alan Smith","startTime":5040.62,"endTime":5042.9,"body":"No one knows more"},{"speaker":"Alan Smith","startTime":5040.62,"endTime":5042.9,"body":"about dealing with widows and"},{"speaker":"Alan Smith","startTime":5042.9,"endTime":5043.98,"body":"Andy, right?"},{"speaker":"Andy Hart","startTime":5044.46,"endTime":5047.58,"body":"Yeah, I deal with"},{"speaker":"Andy Hart","startTime":5044.46,"endTime":5047.58,"body":"widows really well. Female"},{"speaker":"Andy Hart","startTime":5047.58,"endTime":5051.12,"body":"widows are great clients of"},{"speaker":"Andy Hart","startTime":5047.58,"endTime":5051.12,"body":"mine. Fantastic clients. I've"},{"speaker":"Andy Hart","startTime":5051.12,"endTime":5053.04,"body":"been working them for years."},{"speaker":"Andy Hart","startTime":5051.12,"endTime":5053.04,"body":"They listen to me, they"},{"speaker":"Andy Hart","startTime":5053.04,"endTime":5055.86,"body":"understand investing. They get"},{"speaker":"Andy Hart","startTime":5053.04,"endTime":5055.86,"body":"the caring gene. They're perfect"},{"speaker":"Andy Hart","startTime":5055.86,"endTime":5057.74,"body":"clients anyway."},{"speaker":"Unknown","startTime":5059.36,"endTime":5061.58,"body":"Yeah, yeah, it's not"},{"speaker":"Unknown","startTime":5059.36,"endTime":5061.58,"body":"playing, isn't Nick"},{"speaker":"Carl Widger","startTime":5062.0599999999995,"endTime":5069.8,"body":"so Oh, our friend"},{"speaker":"Carl Widger","startTime":5062.0599999999995,"endTime":5069.8,"body":"Mr. Lincoln, has dashed out. So"},{"speaker":"Unknown","startTime":5071.3,"endTime":5073.22,"body":"any, any final points"},{"speaker":"Alan Smith","startTime":5073.28,"endTime":5077.0599999999995,"body":"on that, boys? No,"},{"speaker":"Alan Smith","startTime":5073.28,"endTime":5077.0599999999995,"body":"we should go on to the next"},{"speaker":"Alan Smith","startTime":5077.0599999999995,"endTime":5082.54,"body":"section, the next section, which"},{"speaker":"Alan Smith","startTime":5077.0599999999995,"endTime":5082.54,"body":"is, well, Nick, Nick's gone away"},{"speaker":"Alan Smith","startTime":5082.54,"endTime":5086.5599999999995,"body":"to find the postman with, what"},{"speaker":"Alan Smith","startTime":5082.54,"endTime":5086.5599999999995,"body":"with a bulging sack of"},{"speaker":"Carl Widger","startTime":5087.7,"endTime":5090.5199999999995,"body":"whatever, we are"},{"speaker":"Carl Widger","startTime":5087.7,"endTime":5090.5199999999995,"body":"gonna go, oh jesus christ."},{"speaker":"Carl Widger","startTime":5090.5199999999995,"endTime":5092.68,"body":"Anyway, question, yeah, I"},{"speaker":"Andy Hart","startTime":5092.68,"endTime":5097.2,"body":"got the question."},{"speaker":"Andy Hart","startTime":5092.68,"endTime":5097.2,"body":"Okay, two questions, right? I'm"},{"speaker":"Andy Hart","startTime":5097.5599999999995,"endTime":5100.2,"body":"going to read one question, the"},{"speaker":"Andy Hart","startTime":5097.5599999999995,"endTime":5100.2,"body":"other one is lengthy, and I"},{"speaker":"Andy Hart","startTime":5100.2,"endTime":5104.82,"body":"think we've addressed it before."},{"speaker":"Andy Hart","startTime":5100.2,"endTime":5104.82,"body":"So the first question is by"},{"speaker":"Andy Hart","startTime":5104.82,"endTime":5110.5199999999995,"body":"James B his social handle is at"},{"speaker":"Andy Hart","startTime":5104.82,"endTime":5110.5199999999995,"body":"James underscore, bull pit,"},{"speaker":"Andy Hart","startTime":5111.24,"endTime":5114.78,"body":"gentlemen. First off, I should"},{"speaker":"Andy Hart","startTime":5111.24,"endTime":5114.78,"body":"point out that I'm not an"},{"speaker":"Andy Hart","startTime":5114.78,"endTime":5118.76,"body":"advisor, but a personal finance"},{"speaker":"Andy Hart","startTime":5114.78,"endTime":5118.76,"body":"enthusiast. I've been expanding"},{"speaker":"Andy Hart","startTime":5118.76,"endTime":5121.58,"body":"my knowledge for the last 10"},{"speaker":"Andy Hart","startTime":5118.76,"endTime":5121.58,"body":"years now. Struggle with one"},{"speaker":"Andy Hart","startTime":5121.58,"endTime":5126.68,"body":"aspect of advice given in the UK"},{"speaker":"Andy Hart","startTime":5121.58,"endTime":5126.68,"body":"as compared to the US. Why? Oh,"},{"speaker":"Andy Hart","startTime":5126.68,"endTime":5130.58,"body":"why do a lot of advisors still"},{"speaker":"Andy Hart","startTime":5126.68,"endTime":5130.58,"body":"recommend de risking from the"},{"speaker":"Andy Hart","startTime":5130.58,"endTime":5134.5999999999995,"body":"date of retirement when most"},{"speaker":"Andy Hart","startTime":5130.58,"endTime":5134.5999999999995,"body":"people no longer have a cash"},{"speaker":"Andy Hart","startTime":5134.66,"endTime":5138.46,"body":"event at this point anyway, as"},{"speaker":"Andy Hart","startTime":5134.66,"endTime":5138.46,"body":"in, to buy an annuity. I'm"},{"speaker":"Andy Hart","startTime":5138.46,"endTime":5144.34,"body":"assuming nothing that asset"},{"speaker":"Andy Hart","startTime":5138.46,"endTime":5144.34,"body":"allocation will want to be"},{"speaker":"Andy Hart","startTime":5145.0599999999995,"endTime":5149.2,"body":"nothing that asset allocation"},{"speaker":"Andy Hart","startTime":5145.0599999999995,"endTime":5149.2,"body":"will want to be different in the"},{"speaker":"Andy Hart","startTime":5149.2,"endTime":5152.5,"body":"accumulation as opposed to"},{"speaker":"Andy Hart","startTime":5149.2,"endTime":5152.5,"body":"accumulation phase. Maybe noting"},{"speaker":"Andy Hart","startTime":5152.98,"endTime":5156.48,"body":"I still don't understand this"},{"speaker":"Andy Hart","startTime":5152.98,"endTime":5156.48,"body":"point. US advisors do not have"},{"speaker":"Andy Hart","startTime":5156.48,"endTime":5160.92,"body":"this opinion, probably due to"},{"speaker":"Andy Hart","startTime":5156.48,"endTime":5160.92,"body":"historical reasons, but I can't"},{"speaker":"Andy Hart","startTime":5160.92,"endTime":5163.8,"body":"see how it is still relevant"},{"speaker":"Andy Hart","startTime":5160.92,"endTime":5163.8,"body":"today, after the pension"},{"speaker":"Andy Hart","startTime":5163.8,"endTime":5168.24,"body":"freedoms in 2015 I'd love your"},{"speaker":"Andy Hart","startTime":5163.8,"endTime":5168.24,"body":"take on this, as I just don't"},{"speaker":"Andy Hart","startTime":5168.24,"endTime":5174.42,"body":"get it. Thanks, correct? We"},{"speaker":"Andy Hart","startTime":5168.24,"endTime":5174.42,"body":"still have this underlying"},{"speaker":"Andy Hart","startTime":5175.14,"endTime":5182.96,"body":"force. That does want to tweak"},{"speaker":"Andy Hart","startTime":5175.14,"endTime":5182.96,"body":"and change couple investment"},{"speaker":"Andy Hart","startTime":5182.96,"endTime":5186.26,"body":"portfolios or individual"},{"speaker":"Andy Hart","startTime":5182.96,"endTime":5186.26,"body":"investment portfolios as they"},{"speaker":"Andy Hart","startTime":5186.26,"endTime":5188.66,"body":"approach retirement, and then"},{"speaker":"Andy Hart","startTime":5186.26,"endTime":5188.66,"body":"they live through their"},{"speaker":"Andy Hart","startTime":5188.66,"endTime":5192.08,"body":"retirement. I mean, it is"},{"speaker":"Andy Hart","startTime":5188.66,"endTime":5192.08,"body":"changing. It used to be this"},{"speaker":"Andy Hart","startTime":5192.14,"endTime":5197.44,"body":"cliff edge. Have a load of"},{"speaker":"Andy Hart","startTime":5192.14,"endTime":5197.44,"body":"money, build it up, stop at some"},{"speaker":"Andy Hart","startTime":5197.44,"endTime":5199.72,"body":"point, use that money to buy an"},{"speaker":"Andy Hart","startTime":5197.44,"endTime":5199.72,"body":"annuity. So therefore,"},{"speaker":"Andy Hart","startTime":5199.72,"endTime":5202.24,"body":"approaching that point you"},{"speaker":"Andy Hart","startTime":5199.72,"endTime":5202.24,"body":"wanted to have it as liquid as"},{"speaker":"Andy Hart","startTime":5202.24,"endTime":5206.2,"body":"you can, ideally in cash. This"},{"speaker":"Andy Hart","startTime":5202.24,"endTime":5206.2,"body":"has changed. Pension freedoms"},{"speaker":"Andy Hart","startTime":5206.2,"endTime":5209.38,"body":"have been around for years"},{"speaker":"Andy Hart","startTime":5206.2,"endTime":5209.38,"body":"before pension freedoms because"},{"speaker":"Andy Hart","startTime":5209.38,"endTime":5213.34,"body":"we had the different rules but"},{"speaker":"Andy Hart","startTime":5209.38,"endTime":5213.34,"body":"correct. A typical retiring"},{"speaker":"Andy Hart","startTime":5213.34,"endTime":5217.5599999999995,"body":"couple hit age 65 there's a very"},{"speaker":"Andy Hart","startTime":5213.34,"endTime":5217.5599999999995,"body":"high chance that one of them"},{"speaker":"Andy Hart","startTime":5217.5599999999995,"endTime":5222.36,"body":"will make it to their 90s. So"},{"speaker":"Andy Hart","startTime":5217.5599999999995,"endTime":5222.36,"body":"this money needs to do what the"},{"speaker":"Andy Hart","startTime":5222.36,"endTime":5225.36,"body":"only same definition of money"},{"speaker":"Andy Hart","startTime":5222.36,"endTime":5225.36,"body":"is, which is purchasing power,"},{"speaker":"Andy Hart","startTime":5225.48,"endTime":5227.82,"body":"and it needs to maintain its"},{"speaker":"Andy Hart","startTime":5225.48,"endTime":5227.82,"body":"purchasing power over multi"},{"speaker":"Andy Hart","startTime":5227.82,"endTime":5231.24,"body":"decades. And the answer to that"},{"speaker":"Andy Hart","startTime":5227.82,"endTime":5231.24,"body":"has been in a predominantly"},{"speaker":"Andy Hart","startTime":5231.24,"endTime":5234.5999999999995,"body":"global equity portfolio,"},{"speaker":"Andy Hart","startTime":5231.24,"endTime":5234.5999999999995,"body":"managing your cash flows on an"},{"speaker":"Andy Hart","startTime":5234.5999999999995,"endTime":5239.18,"body":"annual year basis and focusing"},{"speaker":"Andy Hart","startTime":5234.5999999999995,"endTime":5239.18,"body":"somewhat on the safe withdrawal"},{"speaker":"Andy Hart","startTime":5239.18,"endTime":5243.5599999999995,"body":"rate. So James, it is changing."},{"speaker":"Andy Hart","startTime":5239.18,"endTime":5243.5599999999995,"body":"The conventional wisdom around"},{"speaker":"Andy Hart","startTime":5243.5599999999995,"endTime":5247.04,"body":"this, as I say, is changing, and"},{"speaker":"Andy Hart","startTime":5243.5599999999995,"endTime":5247.04,"body":"a lot of the smart advisors are"},{"speaker":"Andy Hart","startTime":5247.04,"endTime":5251.9,"body":"now pushing back on this. But"},{"speaker":"Andy Hart","startTime":5247.04,"endTime":5251.9,"body":"still, the default dogma is,"},{"speaker":"Andy Hart","startTime":5251.96,"endTime":5255.8,"body":"you're in retirement, therefore"},{"speaker":"Andy Hart","startTime":5251.96,"endTime":5255.8,"body":"you need to be predominantly in"},{"speaker":"Andy Hart","startTime":5257.0,"endTime":5259.72,"body":"a fixed income type portfolio."},{"speaker":"Andy Hart","startTime":5257.0,"endTime":5259.72,"body":"But as I say, the one, the"},{"speaker":"Andy Hart","startTime":5259.72,"endTime":5262.0599999999995,"body":"people that are being advised"},{"speaker":"Andy Hart","startTime":5259.72,"endTime":5262.0599999999995,"body":"that are thinking about this on"},{"speaker":"Andy Hart","startTime":5262.0599999999995,"endTime":5265.66,"body":"a sort of slightly deeper level,"},{"speaker":"Andy Hart","startTime":5262.0599999999995,"endTime":5265.66,"body":"are still being predominantly in"},{"speaker":"Andy Hart","startTime":5265.66,"endTime":5268.54,"body":"the global equity portfolios."},{"speaker":"Andy Hart","startTime":5265.66,"endTime":5268.54,"body":"Does anyone else"},{"speaker":"Alan Smith","startTime":5268.72,"endTime":5270.58,"body":"want to hazard add"},{"speaker":"Alan Smith","startTime":5268.72,"endTime":5270.58,"body":"to that? I had to read the"},{"speaker":"Alan Smith","startTime":5270.58,"endTime":5273.7,"body":"question twice. This is not"},{"speaker":"Alan Smith","startTime":5270.58,"endTime":5273.7,"body":"about these, you know, phasing"},{"speaker":"Alan Smith","startTime":5273.7,"endTime":5277.08,"body":"into pre retirement. Is it to"},{"speaker":"Alan Smith","startTime":5273.7,"endTime":5277.08,"body":"these lifestyle funds? This is"},{"speaker":"Alan Smith","startTime":5277.08,"endTime":5281.76,"body":"more that post retirement, and I"},{"speaker":"Alan Smith","startTime":5277.08,"endTime":5281.76,"body":"think it's, I think it's driven"},{"speaker":"Alan Smith","startTime":5281.76,"endTime":5287.22,"body":"by and go back, go to the roots"},{"speaker":"Alan Smith","startTime":5281.76,"endTime":5287.22,"body":"of this. This is a regulatory"},{"speaker":"Alan Smith","startTime":5287.22,"endTime":5293.28,"body":"slash compliance initiative. Our"},{"speaker":"Alan Smith","startTime":5287.22,"endTime":5293.28,"body":"regulator, the FCA, undertook a"},{"speaker":"Alan Smith","startTime":5293.28,"endTime":5296.22,"body":"significant piece of work, and"},{"speaker":"Alan Smith","startTime":5293.28,"endTime":5296.22,"body":"it's ongoing as far as I'm"},{"speaker":"Alan Smith","startTime":5296.22,"endTime":5299.5999999999995,"body":"aware. You know the at"},{"speaker":"Alan Smith","startTime":5296.22,"endTime":5299.5999999999995,"body":"retirement, post retirement"},{"speaker":"Alan Smith","startTime":5299.96,"endTime":5303.2,"body":"strategy, you know, we've all"},{"speaker":"Alan Smith","startTime":5299.96,"endTime":5303.2,"body":"got one in one to one degree or"},{"speaker":"Alan Smith","startTime":5303.2,"endTime":5305.72,"body":"another. Every firm should have"},{"speaker":"Alan Smith","startTime":5303.2,"endTime":5305.72,"body":"an investment policy statement,"},{"speaker":"Alan Smith","startTime":5305.72,"endTime":5308.42,"body":"and you're expected to have a"},{"speaker":"Alan Smith","startTime":5305.72,"endTime":5308.42,"body":"retirement investment policy"},{"speaker":"Alan Smith","startTime":5308.42,"endTime":5310.88,"body":"statement as well. So what are"},{"speaker":"Alan Smith","startTime":5308.42,"endTime":5310.88,"body":"you doing differently? Commonly"},{"speaker":"Alan Smith","startTime":5310.88,"endTime":5313.04,"body":"enough, I was just speaking to a"},{"speaker":"Alan Smith","startTime":5310.88,"endTime":5313.04,"body":"journalist the other day."},{"speaker":"Alan Smith","startTime":5313.04,"endTime":5315.62,"body":"They're going to do an article"},{"speaker":"Alan Smith","startTime":5313.04,"endTime":5315.62,"body":"about this very subject, and I"},{"speaker":"Alan Smith","startTime":5315.62,"endTime":5319.66,"body":"was making the point, there is"},{"speaker":"Alan Smith","startTime":5315.62,"endTime":5319.66,"body":"no, there's no difference."},{"speaker":"Alan Smith","startTime":5319.96,"endTime":5321.94,"body":"You're saving then you're"},{"speaker":"Alan Smith","startTime":5319.96,"endTime":5321.94,"body":"spending. You've still, you've"},{"speaker":"Alan Smith","startTime":5321.94,"endTime":5324.76,"body":"still got the same challenges"},{"speaker":"Alan Smith","startTime":5321.94,"endTime":5324.76,"body":"you you do need, definitely a"},{"speaker":"Alan Smith","startTime":5324.76,"endTime":5327.16,"body":"bit more sophistication around"},{"speaker":"Alan Smith","startTime":5324.76,"endTime":5327.16,"body":"your planning, your spend,"},{"speaker":"Alan Smith","startTime":5327.16,"endTime":5329.86,"body":"spending and keeping, keeping"},{"speaker":"Alan Smith","startTime":5327.16,"endTime":5329.86,"body":"the creative. It's hard"},{"speaker":"Alan Smith","startTime":5329.86,"endTime":5333.46,"body":"to grasp spending rather than it"},{"speaker":"Alan Smith","startTime":5329.86,"endTime":5333.46,"body":"should be loose, yeah. But all"},{"speaker":"Alan Smith","startTime":5333.46,"endTime":5338.04,"body":"of a sudden you haven't removed"},{"speaker":"Alan Smith","startTime":5333.46,"endTime":5338.04,"body":"the desire to to have, in fact,"},{"speaker":"Alan Smith","startTime":5338.04,"endTime":5342.0599999999995,"body":"if anything has changed. Now"},{"speaker":"Alan Smith","startTime":5338.04,"endTime":5342.0599999999995,"body":"you've got an A desire to have a"},{"speaker":"Alan Smith","startTime":5342.0599999999995,"endTime":5345.3,"body":"proper income that's fulfills"},{"speaker":"Alan Smith","startTime":5342.0599999999995,"endTime":5345.3,"body":"your lifestyle expectations,"},{"speaker":"Alan Smith","startTime":5345.48,"endTime":5348.24,"body":"which is rising in line with or"},{"speaker":"Alan Smith","startTime":5345.48,"endTime":5348.24,"body":"ahead of the prevailing rate of"},{"speaker":"Alan Smith","startTime":5348.24,"endTime":5350.5199999999995,"body":"inflation. That's your biggest"},{"speaker":"Alan Smith","startTime":5348.24,"endTime":5350.5199999999995,"body":"number one goal. What's the"},{"speaker":"Alan Smith","startTime":5350.5199999999995,"endTime":5352.92,"body":"biggest? What's the way you're"},{"speaker":"Alan Smith","startTime":5350.5199999999995,"endTime":5352.92,"body":"going to achieve that? You don't"},{"speaker":"Alan Smith","startTime":5352.98,"endTime":5356.4,"body":"achieve it by changing to good"},{"speaker":"Alan Smith","startTime":5352.98,"endTime":5356.4,"body":"now in retirement, we've got a"},{"speaker":"Alan Smith","startTime":5356.4,"endTime":5359.24,"body":"new investment philosophy that's"},{"speaker":"Alan Smith","startTime":5356.4,"endTime":5359.24,"body":"made up of bonds and cash or"},{"speaker":"Alan Smith","startTime":5359.24,"endTime":5362.66,"body":"something. And the journalists,"},{"speaker":"Alan Smith","startTime":5359.24,"endTime":5362.66,"body":"I can't remember her name, but"},{"speaker":"Alan Smith","startTime":5362.66,"endTime":5362.96,"body":"she she"},{"speaker":"Alan Smith","startTime":5364.34,"endTime":5366.74,"body":"was really pushing back on this."},{"speaker":"Alan Smith","startTime":5364.34,"endTime":5366.74,"body":"But that's not all that all the"},{"speaker":"Alan Smith","startTime":5366.74,"endTime":5369.74,"body":"other firms that I'm speaking to"},{"speaker":"Alan Smith","startTime":5366.74,"endTime":5369.74,"body":"are telling me, I'm afraid this"},{"speaker":"Alan Smith","startTime":5369.74,"endTime":5373.0999999999995,"body":"is back to the same thing."},{"speaker":"Alan Smith","startTime":5369.74,"endTime":5373.0999999999995,"body":"You've got an industry which is"},{"speaker":"Alan Smith","startTime":5373.0999999999995,"endTime":5375.8,"body":"run by compliance tick box"},{"speaker":"Alan Smith","startTime":5373.0999999999995,"endTime":5375.8,"body":"people telling you you need to"},{"speaker":"Alan Smith","startTime":5375.8,"endTime":5378.7,"body":"have this and advisers. I go"},{"speaker":"Alan Smith","startTime":5375.8,"endTime":5378.7,"body":"back to the private equity thing"},{"speaker":"Alan Smith","startTime":5378.7,"endTime":5381.76,"body":"earlier on. Advisors either"},{"speaker":"Alan Smith","startTime":5378.7,"endTime":5381.76,"body":"haven't got the ability to or"},{"speaker":"Alan Smith","startTime":5381.76,"endTime":5385.66,"body":"they just don't want to push"},{"speaker":"Alan Smith","startTime":5381.76,"endTime":5385.66,"body":"back and say, on what basis is"},{"speaker":"Alan Smith","startTime":5385.66,"endTime":5385.78,"body":"it."},{"speaker":"Andy Hart","startTime":5385.78,"endTime":5389.0199999999995,"body":"But also, investment"},{"speaker":"Andy Hart","startTime":5385.78,"endTime":5389.0199999999995,"body":"firms are manufacturing products"},{"speaker":"Andy Hart","startTime":5389.0199999999995,"endTime":5391.84,"body":"to fit within the client,"},{"speaker":"Andy Hart","startTime":5389.0199999999995,"endTime":5391.84,"body":"compliance narrative, smooth"},{"speaker":"Andy Hart","startTime":5391.9,"endTime":5393.94,"body":"returns, time and income"},{"speaker":"Andy Hart","startTime":5391.9,"endTime":5393.94,"body":"portfolios,"},{"speaker":"Alan Smith","startTime":5394.36,"endTime":5397.26,"body":"exactly. They're"},{"speaker":"Alan Smith","startTime":5394.36,"endTime":5397.26,"body":"just building something to fit,"},{"speaker":"Alan Smith","startTime":5397.44,"endTime":5400.92,"body":"rather than why we're doing this"},{"speaker":"Alan Smith","startTime":5397.44,"endTime":5400.92,"body":"in the first place, they're"},{"speaker":"Alan Smith","startTime":5400.92,"endTime":5402.84,"body":"saying, Oh, here's one of these"},{"speaker":"Alan Smith","startTime":5400.92,"endTime":5402.84,"body":"things you could have the the"},{"speaker":"Alan Smith","startTime":5402.9,"endTime":5405.72,"body":"green portfolio of the blue"},{"speaker":"Alan Smith","startTime":5402.9,"endTime":5405.72,"body":"portfolio. They tick that box."},{"speaker":"Alan Smith","startTime":5405.72,"endTime":5409.08,"body":"And so everyone's happy to have"},{"speaker":"Alan Smith","startTime":5405.72,"endTime":5409.08,"body":"a but it's the it's the main"},{"speaker":"Alan Smith","startTime":5409.08,"endTime":5412.5,"body":"thrust of being a high quality,"},{"speaker":"Alan Smith","startTime":5409.08,"endTime":5412.5,"body":"real financial planner. You"},{"speaker":"Alan Smith","startTime":5412.5,"endTime":5416.04,"body":"still, you stick within the"},{"speaker":"Alan Smith","startTime":5412.5,"endTime":5416.04,"body":"rules and regulations. Of course"},{"speaker":"Alan Smith","startTime":5416.04,"endTime":5418.34,"body":"you do, but you have a"},{"speaker":"Alan Smith","startTime":5416.04,"endTime":5418.34,"body":"thoughtful approach to this, and"},{"speaker":"Alan Smith","startTime":5418.34,"endTime":5422.0,"body":"say quite believe that you need"},{"speaker":"Alan Smith","startTime":5418.34,"endTime":5422.0,"body":"to adhere to this. It's not a"},{"speaker":"Alan Smith","startTime":5422.0,"endTime":5425.9,"body":"strict rule. Need to be aware of"},{"speaker":"Alan Smith","startTime":5422.0,"endTime":5425.9,"body":"it. But I'm not sure what he's"},{"speaker":"Alan Smith","startTime":5425.9,"endTime":5428.3,"body":"referring to. The market in the"},{"speaker":"Alan Smith","startTime":5425.9,"endTime":5428.3,"body":"States, they probably just don't"},{"speaker":"Alan Smith","startTime":5428.3,"endTime":5431.12,"body":"do this at all. In the US, they"},{"speaker":"Alan Smith","startTime":5428.3,"endTime":5431.12,"body":"just keep fully invested by the"},{"speaker":"Alan Smith","startTime":5431.12,"endTime":5432.98,"body":"sounds of things. Yeah, and"},{"speaker":"Carl Widger","startTime":5434.36,"endTime":5436.72,"body":"back to Nick's"},{"speaker":"Carl Widger","startTime":5434.36,"endTime":5436.72,"body":"point. You know, between art and"},{"speaker":"Carl Widger","startTime":5436.72,"endTime":5440.68,"body":"science, right? I think your"},{"speaker":"Carl Widger","startTime":5436.72,"endTime":5440.68,"body":"point is perfect Island. It's"},{"speaker":"Carl Widger","startTime":5440.68,"endTime":5445.3,"body":"this is what real financial"},{"speaker":"Carl Widger","startTime":5440.68,"endTime":5445.3,"body":"planning is. And I know the"},{"speaker":"Carl Widger","startTime":5445.3,"endTime":5448.96,"body":"detractors will go, Oh, there's"},{"speaker":"Carl Widger","startTime":5445.3,"endTime":5448.96,"body":"the guys on trap going, the"},{"speaker":"Carl Widger","startTime":5448.96,"endTime":5451.78,"body":"answer to everything is real"},{"speaker":"Carl Widger","startTime":5448.96,"endTime":5451.78,"body":"financial planning, but it"},{"speaker":"Carl Widger","startTime":5451.78,"endTime":5455.62,"body":"actually is. And to your point"},{"speaker":"Carl Widger","startTime":5451.78,"endTime":5455.62,"body":"about spending, I think that the"},{"speaker":"Carl Widger","startTime":5455.62,"endTime":5459.18,"body":"spending patterns need to be"},{"speaker":"Carl Widger","startTime":5455.62,"endTime":5459.18,"body":"nailed before retirement. It's"},{"speaker":"Carl Widger","startTime":5459.18,"endTime":5461.46,"body":"too late to be doing it in"},{"speaker":"Carl Widger","startTime":5459.18,"endTime":5461.46,"body":"retirement, because you can't"},{"speaker":"Carl Widger","startTime":5461.46,"endTime":5465.84,"body":"really do a plan for retirement,"},{"speaker":"Carl Widger","startTime":5461.46,"endTime":5465.84,"body":"or third act, or whatever you"},{"speaker":"Carl Widger","startTime":5465.84,"endTime":5469.98,"body":"want to call it. You know, you"},{"speaker":"Carl Widger","startTime":5465.84,"endTime":5469.98,"body":"got to start fine tuning that."},{"speaker":"Carl Widger","startTime":5469.98,"endTime":5474.84,"body":"And what we found is, over time,"},{"speaker":"Carl Widger","startTime":5469.98,"endTime":5474.84,"body":"your financial plan might be a"},{"speaker":"Carl Widger","startTime":5474.84,"endTime":5478.94,"body":"little bit kind of loose. Juice"},{"speaker":"Carl Widger","startTime":5474.84,"endTime":5478.94,"body":"at the start. But year on year,"},{"speaker":"Carl Widger","startTime":5478.94,"endTime":5482.54,"body":"it gets tighter and tighter and"},{"speaker":"Carl Widger","startTime":5478.94,"endTime":5482.54,"body":"more accurate. It's right, it's"},{"speaker":"Carl Widger","startTime":5483.0199999999995,"endTime":5487.22,"body":"and then, you know, you you come"},{"speaker":"Carl Widger","startTime":5483.0199999999995,"endTime":5487.22,"body":"to, you know, you might well"},{"speaker":"Carl Widger","startTime":5487.22,"endTime":5491.84,"body":"decide to draw down your pension"},{"speaker":"Carl Widger","startTime":5487.22,"endTime":5491.84,"body":"at 60. But, but in Ireland here,"},{"speaker":"Carl Widger","startTime":5492.2,"endTime":5496.96,"body":"you know everybody, every"},{"speaker":"Carl Widger","startTime":5492.2,"endTime":5496.96,"body":"advisor, not every advisor, lots"},{"speaker":"Carl Widger","startTime":5496.96,"endTime":5500.14,"body":"of advisors tell their clients,"},{"speaker":"Carl Widger","startTime":5496.96,"endTime":5500.14,"body":"oh, bail out at 60 and take your"},{"speaker":"Carl Widger","startTime":5500.14,"endTime":5502.5999999999995,"body":"tax re lump sum, and then you"},{"speaker":"Carl Widger","startTime":5500.14,"endTime":5502.5999999999995,"body":"have to invest the balance in"},{"speaker":"Carl Widger","startTime":5502.5999999999995,"endTime":5505.0,"body":"what we call an approved"},{"speaker":"Carl Widger","startTime":5502.5999999999995,"endTime":5505.0,"body":"retirement fund. We had pension"},{"speaker":"Carl Widger","startTime":5505.0,"endTime":5508.54,"body":"freedoms way before you guys"},{"speaker":"Carl Widger","startTime":5505.0,"endTime":5508.54,"body":"did. So you copied us on that,"},{"speaker":"Carl Widger","startTime":5508.54,"endTime":5513.04,"body":"which is totally fine, right?"},{"speaker":"Carl Widger","startTime":5508.54,"endTime":5513.04,"body":"But, but you can, you can invest"},{"speaker":"Carl Widger","startTime":5513.04,"endTime":5516.28,"body":"in, you can invest in. My screen"},{"speaker":"Carl Widger","startTime":5513.04,"endTime":5516.28,"body":"has gone off behind me, as I"},{"speaker":"Carl Widger","startTime":5516.28,"endTime":5517.68,"body":"said, you can try"},{"speaker":"Andy Hart","startTime":5517.8,"endTime":5519.0599999999995,"body":"and fix it, mate,"},{"speaker":"Carl Widger","startTime":5521.099,"endTime":5525.179,"body":"but, but you can."},{"speaker":"Carl Widger","startTime":5521.099,"endTime":5525.179,"body":"You can your pension fund grows"},{"speaker":"Carl Widger","startTime":5525.179,"endTime":5527.8189999999995,"body":"tax free, right? So, but once"},{"speaker":"Carl Widger","startTime":5525.179,"endTime":5527.8189999999995,"body":"you draw it down, then you got"},{"speaker":"Carl Widger","startTime":5527.8189999999995,"endTime":5530.339,"body":"to start paying tax on the"},{"speaker":"Carl Widger","startTime":5527.8189999999995,"endTime":5530.339,"body":"drawdowns, and you got to take"},{"speaker":"Carl Widger","startTime":5530.339,"endTime":5534.179,"body":"4% a year before your it doesn't"},{"speaker":"Carl Widger","startTime":5530.339,"endTime":5534.179,"body":"really matter. This is, this is"},{"speaker":"Carl Widger","startTime":5534.179,"endTime":5537.499,"body":"what financial planning will"},{"speaker":"Carl Widger","startTime":5534.179,"endTime":5537.499,"body":"dictate, exactly what you need"},{"speaker":"Carl Widger","startTime":5537.499,"endTime":5540.739,"body":"when you get it, but, but the"},{"speaker":"Carl Widger","startTime":5537.499,"endTime":5540.739,"body":"answer to every question,"},{"speaker":"Carl Widger","startTime":5541.759,"endTime":5544.459,"body":"because the answer to I we"},{"speaker":"Carl Widger","startTime":5541.759,"endTime":5544.459,"body":"probably are having time to do"},{"speaker":"Carl Widger","startTime":5544.459,"endTime":5547.579,"body":"the next question, but, but it's"},{"speaker":"Carl Widger","startTime":5544.459,"endTime":5547.579,"body":"about attitude to risk. The"},{"speaker":"Carl Widger","startTime":5547.579,"endTime":5551.539,"body":"answer to every question is, do"},{"speaker":"Carl Widger","startTime":5547.579,"endTime":5551.539,"body":"your financial plan and the the"},{"speaker":"Carl Widger","startTime":5551.539,"endTime":5555.439,"body":"answers become apparent that the"},{"speaker":"Carl Widger","startTime":5551.539,"endTime":5555.439,"body":"financial plan tells you what"},{"speaker":"Carl Widger","startTime":5555.439,"endTime":5559.7789999999995,"body":"the answer is going to be every,"},{"speaker":"Carl Widger","startTime":5555.439,"endTime":5559.7789999999995,"body":"every question in terms of"},{"speaker":"Carl Widger","startTime":5559.7789999999995,"endTime":5564.159,"body":"families, finances can be"},{"speaker":"Carl Widger","startTime":5559.7789999999995,"endTime":5564.159,"body":"answered by doing a long term"},{"speaker":"Carl Widger","startTime":5564.159,"endTime":5567.759,"body":"financial plan. It will tell you"},{"speaker":"Carl Widger","startTime":5564.159,"endTime":5567.759,"body":"into the long term, broadly"},{"speaker":"Carl Widger","startTime":5567.759,"endTime":5570.759,"body":"speaking, how you're fixed. But"},{"speaker":"Carl Widger","startTime":5567.759,"endTime":5570.759,"body":"it can get very accurate in the"},{"speaker":"Carl Widger","startTime":5570.759,"endTime":5573.039,"body":"short term, very accurate, I"},{"speaker":"Carl Widger","startTime":5570.759,"endTime":5573.039,"body":"think,"},{"speaker":"Alan Smith","startTime":5573.04,"endTime":5575.38,"body":"I think this is, and"},{"speaker":"Alan Smith","startTime":5573.04,"endTime":5575.38,"body":"we will, I mean, it's the name"},{"speaker":"Alan Smith","startTime":5575.38,"endTime":5578.88,"body":"of this bloody podcast, after"},{"speaker":"Alan Smith","startTime":5575.38,"endTime":5578.88,"body":"all, and we will keep banging on"},{"speaker":"Alan Smith","startTime":5578.94,"endTime":5581.34,"body":"about this forever, and I think"},{"speaker":"Alan Smith","startTime":5578.94,"endTime":5581.34,"body":"this is the underlying pod."},{"speaker":"Alan Smith","startTime":5581.34,"endTime":5584.04,"body":"Quite a few of these questions"},{"speaker":"Alan Smith","startTime":5581.34,"endTime":5584.04,"body":"come up, and all roads lead back"},{"speaker":"Alan Smith","startTime":5584.04,"endTime":5588.54,"body":"to the same answer, yeah,"},{"speaker":"Alan Smith","startTime":5584.04,"endTime":5588.54,"body":"actually. And I do feel for and"},{"speaker":"Alan Smith","startTime":5588.54,"endTime":5591.42,"body":"it's not this particular guy is"},{"speaker":"Alan Smith","startTime":5588.54,"endTime":5591.42,"body":"not an advisor. He's a he's just"},{"speaker":"Alan Smith","startTime":5591.42,"endTime":5594.66,"body":"an interested observer. He's"},{"speaker":"Alan Smith","startTime":5591.42,"endTime":5594.66,"body":"interested in personal finance."},{"speaker":"Alan Smith","startTime":5595.14,"endTime":5597.92,"body":"But I have had conversations"},{"speaker":"Alan Smith","startTime":5595.14,"endTime":5597.92,"body":"with other advisors. I think we"},{"speaker":"Alan Smith","startTime":5597.92,"endTime":5601.76,"body":"all have, and particularly with"},{"speaker":"Alan Smith","startTime":5597.92,"endTime":5601.76,"body":"larger firms, there is a kind of"},{"speaker":"Alan Smith","startTime":5601.76,"endTime":5604.58,"body":"dictatorial policy. You need to"},{"speaker":"Alan Smith","startTime":5601.76,"endTime":5604.58,"body":"do this. You need to tick this"},{"speaker":"Alan Smith","startTime":5604.58,"endTime":5607.5199999999995,"body":"box, the client's going to"},{"speaker":"Alan Smith","startTime":5604.58,"endTime":5607.5199999999995,"body":"retirement. You need to get into"},{"speaker":"Alan Smith","startTime":5607.5199999999995,"endTime":5610.88,"body":"this fund, or this structure,"},{"speaker":"Alan Smith","startTime":5607.5199999999995,"endTime":5610.88,"body":"this thing. Because everything,"},{"speaker":"Alan Smith","startTime":5611.0,"endTime":5614.54,"body":"if you do things at scale and"},{"speaker":"Alan Smith","startTime":5611.0,"endTime":5614.54,"body":"mass. And I think this, this is"},{"speaker":"Alan Smith","startTime":5614.54,"endTime":5617.74,"body":"a point as well. We are dealing"},{"speaker":"Alan Smith","startTime":5614.54,"endTime":5617.74,"body":"with our firms in particular,"},{"speaker":"Alan Smith","startTime":5617.74,"endTime":5620.5599999999995,"body":"but dealing with affluent"},{"speaker":"Alan Smith","startTime":5617.74,"endTime":5620.5599999999995,"body":"clients that the commercials"},{"speaker":"Alan Smith","startTime":5620.5599999999995,"endTime":5623.5,"body":"work out you can't afford to get"},{"speaker":"Alan Smith","startTime":5620.5599999999995,"endTime":5623.5,"body":"really, really bespoke, really"},{"speaker":"Alan Smith","startTime":5623.5,"endTime":5626.86,"body":"sort of personalized, highly"},{"speaker":"Alan Smith","startTime":5623.5,"endTime":5626.86,"body":"personalized financial planning"},{"speaker":"Alan Smith","startTime":5626.86,"endTime":5629.32,"body":"and all the things we've talked"},{"speaker":"Alan Smith","startTime":5626.86,"endTime":5629.32,"body":"about. If you're trying to do"},{"speaker":"Alan Smith","startTime":5629.32,"endTime":5632.98,"body":"this stuff at scale with 10s of"},{"speaker":"Alan Smith","startTime":5629.32,"endTime":5632.98,"body":"1000s of clients, you probably"},{"speaker":"Alan Smith","startTime":5632.98,"endTime":5636.22,"body":"can't therefore, so maybe that's"},{"speaker":"Alan Smith","startTime":5632.98,"endTime":5636.22,"body":"where there's a crossover some"},{"speaker":"Alan Smith","startTime":5636.22,"endTime":5639.36,"body":"of the firms working with 1000s"},{"speaker":"Alan Smith","startTime":5636.22,"endTime":5639.36,"body":"and 1000s of clients, maybe they"},{"speaker":"Alan Smith","startTime":5639.36,"endTime":5642.84,"body":"have to, by definition, do tick"},{"speaker":"Alan Smith","startTime":5639.36,"endTime":5642.84,"body":"the box. Put them in this risk"},{"speaker":"Alan Smith","startTime":5642.84,"endTime":5646.44,"body":"profiler. Put them in this"},{"speaker":"Alan Smith","startTime":5642.84,"endTime":5646.44,"body":"retirement account because there"},{"speaker":"Alan Smith","startTime":5646.44,"endTime":5648.78,"body":"isn't enough time in the day to"},{"speaker":"Alan Smith","startTime":5646.44,"endTime":5648.78,"body":"do this art and science"},{"speaker":"Alan Smith","startTime":5648.78,"endTime":5651.0599999999995,"body":"experience. Yep, Nicholas, and"},{"speaker":"Alan Smith","startTime":5648.78,"endTime":5651.0599999999995,"body":"they just want"},{"speaker":"Unknown","startTime":5651.059,"endTime":5652.739,"body":"to pick their battles,"},{"speaker":"Unknown","startTime":5651.059,"endTime":5652.739,"body":"don't they? Okay, I'll just"},{"speaker":"Unknown","startTime":5652.739,"endTime":5653.099,"body":"close up"},{"speaker":"Nick Lincoln","startTime":5653.099,"endTime":5654.959,"body":"on this one some"},{"speaker":"Nick Lincoln","startTime":5653.099,"endTime":5654.959,"body":"sure you can hear me. Thank you"},{"speaker":"Nick Lincoln","startTime":5654.959,"endTime":5657.259,"body":"for stepping in then. But I"},{"speaker":"Nick Lincoln","startTime":5654.959,"endTime":5657.259,"body":"think virgin broadband are doing"},{"speaker":"Nick Lincoln","startTime":5657.259,"endTime":5659.839,"body":"work in the area. So my internet"},{"speaker":"Nick Lincoln","startTime":5657.259,"endTime":5659.839,"body":"is very, very spotty. Yeah,"},{"speaker":"Nick Lincoln","startTime":5660.439,"endTime":5662.959,"body":"interesting. A guy completely"},{"speaker":"Nick Lincoln","startTime":5660.439,"endTime":5662.959,"body":"outside of this thing of asking"},{"speaker":"Nick Lincoln","startTime":5662.959,"endTime":5666.019,"body":"look into it and see exactly"},{"speaker":"Nick Lincoln","startTime":5662.959,"endTime":5666.019,"body":"what some of us have been saying"},{"speaker":"Nick Lincoln","startTime":5666.019,"endTime":5667.999,"body":"for a long time. I think we'll"},{"speaker":"Nick Lincoln","startTime":5666.019,"endTime":5667.999,"body":"close it on there. We're all"},{"speaker":"Nick Lincoln","startTime":5667.999,"endTime":5670.2789999999995,"body":"broad agreement about this."},{"speaker":"Nick Lincoln","startTime":5667.999,"endTime":5670.2789999999995,"body":"James, you're absolutely right."},{"speaker":"Nick Lincoln","startTime":5670.459,"endTime":5673.519,"body":"James, underscore, b, u, l, p,"},{"speaker":"Nick Lincoln","startTime":5670.459,"endTime":5673.519,"body":"i, double C. It's not a painful"},{"speaker":"Nick Lincoln","startTime":5673.519,"endTime":5679.659,"body":"name. Our thoughts go up to you."},{"speaker":"Nick Lincoln","startTime":5673.519,"endTime":5679.659,"body":"Okay, let's move on to we'll do"},{"speaker":"Nick Lincoln","startTime":5679.659,"endTime":5682.599,"body":"the second question. Is a"},{"speaker":"Nick Lincoln","startTime":5679.659,"endTime":5682.599,"body":"massive one. So Lewis, M or the"},{"speaker":"Nick Lincoln","startTime":5682.599,"endTime":5686.079,"body":"first day anonymous, and they"},{"speaker":"Nick Lincoln","startTime":5682.599,"endTime":5686.079,"body":"tell me, M, Lewis will do your"},{"speaker":"Nick Lincoln","startTime":5686.079,"endTime":5690.579,"body":"question in the next episode,"},{"speaker":"Nick Lincoln","startTime":5686.079,"endTime":5690.579,"body":"maybe episode anybody couldn't"},{"speaker":"Nick Lincoln","startTime":5690.579,"endTime":5695.139,"body":"lose. We'll do we'll do your"},{"speaker":"Nick Lincoln","startTime":5690.579,"endTime":5695.139,"body":"we'll do your question in the"},{"speaker":"Nick Lincoln","startTime":5695.139,"endTime":5699.599,"body":"next episode, after slash on the"},{"speaker":"Nick Lincoln","startTime":5695.139,"endTime":5699.599,"body":"half, that'll be set something."},{"speaker":"Nick Lincoln","startTime":5699.719,"endTime":5704.639,"body":"Okay. Let's move on to what many"},{"speaker":"Nick Lincoln","startTime":5699.719,"endTime":5704.639,"body":"people call culture. Oh, my God,"},{"speaker":"Nick Lincoln","startTime":5704.639,"endTime":5706.919,"body":"where the hell is there? Is"},{"speaker":"Nick Lincoln","startTime":5704.639,"endTime":5706.919,"body":"culture corner dude with Christ."},{"speaker":"Nick Lincoln","startTime":5706.919,"endTime":5710.879,"body":"So this is what, right. Okay,"},{"speaker":"Alan Smith","startTime":5711.599,"endTime":5714.899,"body":"okay, technical"},{"speaker":"Alan Smith","startTime":5711.599,"endTime":5714.899,"body":"troubles, Lincoln, I think"},{"speaker":"Alan Smith","startTime":5714.899,"endTime":5716.539,"body":"today. Okay, okay,"},{"speaker":"Andy Hart","startTime":5717.44,"endTime":5721.58,"body":"so I want to be the"},{"speaker":"Andy Hart","startTime":5717.44,"endTime":5721.58,"body":"Virgin Media engineer is outside"},{"speaker":"Andy Hart","startTime":5721.64,"endTime":5721.88,"body":"soon"},{"speaker":"Unknown","startTime":5721.88,"endTime":5723.08,"body":"as this call ends,"},{"speaker":"Unknown","startTime":5727.88,"endTime":5729.08,"body":"hiring for a chairman."},{"speaker":"Unknown","startTime":5731.12,"endTime":5733.16,"body":"We're driving"},{"speaker":"Unknown","startTime":5733.16,"endTime":5734.9,"body":"up and down the streets trying"},{"speaker":"Unknown","startTime":5733.16,"endTime":5734.9,"body":"to find the"},{"speaker":"Nick Lincoln","startTime":5735.86,"endTime":5738.5199999999995,"body":"Virgin the MD of"},{"speaker":"Nick Lincoln","startTime":5735.86,"endTime":5738.5199999999995,"body":"trap. I might, I might. I'll do"},{"speaker":"Nick Lincoln","startTime":5738.5199999999995,"endTime":5742.24,"body":"the hiring myself. Now crack on"},{"speaker":"Nick Lincoln","startTime":5738.5199999999995,"endTime":5742.24,"body":"with it. Storyteller, right?"},{"speaker":"Alan Smith","startTime":5743.38,"endTime":5747.04,"body":"I would like to"},{"speaker":"Alan Smith","startTime":5743.38,"endTime":5747.04,"body":"recommend a book by a gentleman"},{"speaker":"Alan Smith","startTime":5747.04,"endTime":5751.18,"body":"called Anthony Pompliano Andy."},{"speaker":"Alan Smith","startTime":5747.04,"endTime":5751.18,"body":"You ever heard of him? I know"},{"speaker":"Alan Smith","startTime":5751.18,"endTime":5754.84,"body":"the other two. Sounds amazing,"},{"speaker":"Alan Smith","startTime":5751.18,"endTime":5754.84,"body":"real legend of a person. So he's"},{"speaker":"Alan Smith","startTime":5754.84,"endTime":5757.5599999999995,"body":"got a book. I've been following"},{"speaker":"Alan Smith","startTime":5754.84,"endTime":5757.5599999999995,"body":"him for quite a while. Quite"},{"speaker":"Alan Smith","startTime":5757.5599999999995,"endTime":5760.38,"body":"active social media, quite a"},{"speaker":"Alan Smith","startTime":5757.5599999999995,"endTime":5760.38,"body":"high profile person, very"},{"speaker":"Alan Smith","startTime":5760.38,"endTime":5763.38,"body":"interesting character. But his"},{"speaker":"Alan Smith","startTime":5760.38,"endTime":5763.38,"body":"book, this is an interesting"},{"speaker":"Alan Smith","startTime":5763.38,"endTime":5766.08,"body":"one. I think even Carl might be"},{"speaker":"Alan Smith","startTime":5763.38,"endTime":5766.08,"body":"interested. He started writing a"},{"speaker":"Alan Smith","startTime":5766.08,"endTime":5768.96,"body":"book when he had children, just"},{"speaker":"Alan Smith","startTime":5766.08,"endTime":5768.96,"body":"kind of advice to my kids, and"},{"speaker":"Alan Smith","startTime":5768.96,"endTime":5771.12,"body":"he sort of, and he's like, you"},{"speaker":"Alan Smith","startTime":5768.96,"endTime":5771.12,"body":"know, write one a day or one a"},{"speaker":"Alan Smith","startTime":5771.12,"endTime":5775.38,"body":"week or something. He's now got"},{"speaker":"Alan Smith","startTime":5771.12,"endTime":5775.38,"body":"65 of these, just sort of short,"},{"speaker":"Alan Smith","startTime":5775.38,"endTime":5777.68,"body":"just two or three. Pages of 65"},{"speaker":"Alan Smith","startTime":5775.38,"endTime":5777.68,"body":"kids."},{"speaker":"Unknown","startTime":5778.4,"endTime":5778.76,"body":"No,"},{"speaker":"Unknown","startTime":5779.78,"endTime":5782.48,"body":"he was allowed to give each of"},{"speaker":"Unknown","startTime":5779.78,"endTime":5782.48,"body":"more than one piece of advice."},{"speaker":"Unknown","startTime":5784.76,"endTime":5786.5599999999995,"body":"Book of 65 letters, by the looks"},{"speaker":"Alan Smith","startTime":5786.559,"endTime":5788.959,"body":"of the link, yeah,"},{"speaker":"Alan Smith","startTime":5786.559,"endTime":5788.959,"body":"how to live an extraordinary"},{"speaker":"Alan Smith","startTime":5788.959,"endTime":5791.719,"body":"life. So very simple. It's like"},{"speaker":"Alan Smith","startTime":5788.959,"endTime":5791.719,"body":"one of these classic you know,"},{"speaker":"Alan Smith","startTime":5791.719,"endTime":5794.419,"body":"letters to my younger self,"},{"speaker":"Alan Smith","startTime":5791.719,"endTime":5794.419,"body":"letters to my children. But of"},{"speaker":"Alan Smith","startTime":5794.419,"endTime":5798.099,"body":"course, letters to all of us."},{"speaker":"Alan Smith","startTime":5794.419,"endTime":5798.099,"body":"And I just, I bought it. Read it"},{"speaker":"Alan Smith","startTime":5798.099,"endTime":5800.199,"body":"in about one or two sittings"},{"speaker":"Alan Smith","startTime":5798.099,"endTime":5800.199,"body":"just, it's just really"},{"speaker":"Alan Smith","startTime":5800.199,"endTime":5803.799,"body":"beautifully written. Loads of"},{"speaker":"Alan Smith","startTime":5800.199,"endTime":5803.799,"body":"really, you know, nuggets of"},{"speaker":"Alan Smith","startTime":5803.799,"endTime":5806.679,"body":"wisdom, golden bits of advice"},{"speaker":"Alan Smith","startTime":5803.799,"endTime":5806.679,"body":"that he's given to children now,"},{"speaker":"Alan Smith","startTime":5806.679,"endTime":5809.799,"body":"sharing it with the world. And"},{"speaker":"Alan Smith","startTime":5806.679,"endTime":5809.799,"body":"it's, as I say, it's an easy"},{"speaker":"Alan Smith","startTime":5809.799,"endTime":5813.399,"body":"read. Download it, read it,"},{"speaker":"Alan Smith","startTime":5809.799,"endTime":5813.399,"body":"listen to it. Highly recommend"},{"speaker":"Alan Smith","startTime":5813.399,"endTime":5817.259,"body":"it. How to live an extraordinary"},{"speaker":"Alan Smith","startTime":5813.399,"endTime":5817.259,"body":"life. By Anthony, I'm"},{"speaker":"Carl Widger","startTime":5817.38,"endTime":5819.66,"body":"definitely"},{"speaker":"Carl Widger","startTime":5817.38,"endTime":5819.66,"body":"downloading that right up my"},{"speaker":"Carl Widger","startTime":5819.66,"endTime":5828.5999999999995,"body":"street, as is icky guy, which is"},{"speaker":"Carl Widger","startTime":5819.66,"endTime":5828.5999999999995,"body":"Nick nearly getting were you"},{"speaker":"Carl Widger","startTime":5828.5999999999995,"endTime":5832.38,"body":"laughing or getting sick there?"},{"speaker":"Carl Widger","startTime":5828.5999999999995,"endTime":5832.38,"body":"Do you remember Andy? We debated"},{"speaker":"Carl Widger","startTime":5832.44,"endTime":5835.8,"body":"Eckhart Tolle, the power of now"},{"speaker":"Carl Widger","startTime":5832.44,"endTime":5835.8,"body":"is no and you loved it. And I"},{"speaker":"Carl Widger","startTime":5835.8,"endTime":5839.18,"body":"was like, Oh, I found it really"},{"speaker":"Carl Widger","startTime":5835.8,"endTime":5839.18,"body":"tough going. Well, if, like me,"},{"speaker":"Carl Widger","startTime":5839.18,"endTime":5843.08,"body":"you found Eckhart Tolle stuff"},{"speaker":"Carl Widger","startTime":5839.18,"endTime":5843.08,"body":"kind of that was hard going."},{"speaker":"Carl Widger","startTime":5843.32,"endTime":5847.4,"body":"This is a milder version, but"},{"speaker":"Carl Widger","startTime":5843.32,"endTime":5847.4,"body":"some of it gets a bit mad,"},{"speaker":"Carl Widger","startTime":5847.58,"endTime":5852.86,"body":"right? But it's the Japanese."},{"speaker":"Carl Widger","startTime":5847.58,"endTime":5852.86,"body":"Ikigai is a Japanese word or"},{"speaker":"Carl Widger","startTime":5852.86,"endTime":5856.66,"body":"phrase for what's your purpose"},{"speaker":"Carl Widger","startTime":5852.86,"endTime":5856.66,"body":"or the meaning to your life. But"},{"speaker":"Carl Widger","startTime":5856.66,"endTime":5861.58,"body":"they they they go to this"},{"speaker":"Carl Widger","startTime":5856.66,"endTime":5861.58,"body":"community in Okinawa in Japan,"},{"speaker":"Carl Widger","startTime":5861.94,"endTime":5865.0599999999995,"body":"and they study, you know, all"},{"speaker":"Carl Widger","startTime":5861.94,"endTime":5865.0599999999995,"body":"these really old people and how"},{"speaker":"Carl Widger","startTime":5865.0599999999995,"endTime":5867.46,"body":"they're, you know, finding"},{"speaker":"Carl Widger","startTime":5865.0599999999995,"endTime":5867.46,"body":"meaning and purpose in their"},{"speaker":"Carl Widger","startTime":5867.46,"endTime":5873.5199999999995,"body":"life. It's really, it's, it's,"},{"speaker":"Carl Widger","startTime":5867.46,"endTime":5873.5199999999995,"body":"it's really good. And the more I"},{"speaker":"Carl Widger","startTime":5873.5199999999995,"endTime":5876.78,"body":"kind of, the more I'm trying to"},{"speaker":"Carl Widger","startTime":5873.5199999999995,"endTime":5876.78,"body":"reading these kind of books"},{"speaker":"Carl Widger","startTime":5877.08,"endTime":5880.62,"body":"tomorrow, I'm realizing, hmm,"},{"speaker":"Carl Widger","startTime":5877.08,"endTime":5880.62,"body":"are you looking for something?"},{"speaker":"Carl Widger","startTime":5880.62,"endTime":5883.2,"body":"You're searching for a bit of"},{"speaker":"Carl Widger","startTime":5880.62,"endTime":5883.2,"body":"meaning there, Karen and I"},{"speaker":"Carl Widger","startTime":5883.2,"endTime":5886.68,"body":"probably am. And does that come"},{"speaker":"Carl Widger","startTime":5883.2,"endTime":5886.68,"body":"at a particular hour of your"},{"speaker":"Carl Widger","startTime":5886.68,"endTime":5891.0,"body":"life? I don't know, but I"},{"speaker":"Carl Widger","startTime":5886.68,"endTime":5891.0,"body":"thought this one was really"},{"speaker":"Carl Widger","startTime":5891.0,"endTime":5895.26,"body":"good, which is why I'm"},{"speaker":"Carl Widger","startTime":5891.0,"endTime":5895.26,"body":"definitely going to read Alan's"},{"speaker":"Carl Widger","startTime":5895.26,"endTime":5896.84,"body":"book. Because this is"},{"speaker":"Andy Hart","startTime":5898.34,"endTime":5900.62,"body":"on the audible link."},{"speaker":"Andy Hart","startTime":5898.34,"endTime":5900.62,"body":"House, really short, three hours"},{"speaker":"Andy Hart","startTime":5900.62,"endTime":5902.0,"body":"and 20 minutes, yeah, yeah,"},{"speaker":"Alan Smith","startTime":5902.36,"endTime":5905.72,"body":"I forgot that beside"},{"speaker":"Alan Smith","startTime":5902.36,"endTime":5905.72,"body":"my bed, actually bed. It says"},{"speaker":"Alan Smith","startTime":5905.78,"endTime":5908.66,"body":"it's a short book, isn't it"},{"speaker":"Alan Smith","startTime":5905.78,"endTime":5908.66,"body":"short? Yeah, light blue book."},{"speaker":"Alan Smith","startTime":5908.66,"endTime":5911.78,"body":"Start, really, yeah, quickly,"},{"speaker":"Alan Smith","startTime":5908.66,"endTime":5911.78,"body":"really, really, really good."},{"speaker":"Alan Smith","startTime":5911.96,"endTime":5915.38,"body":"Like, yeah, that's the icky guy"},{"speaker":"Alan Smith","startTime":5911.96,"endTime":5915.38,"body":"at the what is it? 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It's called"},{"speaker":"Andy Hart","startTime":5927.64,"endTime":5930.34,"body":"Confessions of an advertising"},{"speaker":"Andy Hart","startTime":5930.34,"endTime":5934.5999999999995,"body":"man. It's by David Ogilvy, who"},{"speaker":"Andy Hart","startTime":5930.34,"endTime":5934.5999999999995,"body":"is muted, or is known as being"},{"speaker":"Andy Hart","startTime":5934.5999999999995,"endTime":5938.76,"body":"one of the greatest advertising"},{"speaker":"Andy Hart","startTime":5934.5999999999995,"endTime":5938.76,"body":"men to ever exist. He's the"},{"speaker":"Andy Hart","startTime":5938.76,"endTime":5942.3,"body":"original Mad Men. It's a"},{"speaker":"Andy Hart","startTime":5938.76,"endTime":5942.3,"body":"brilliant book. It's very"},{"speaker":"Andy Hart","startTime":5942.3,"endTime":5945.66,"body":"relevant for our business, how"},{"speaker":"Andy Hart","startTime":5942.3,"endTime":5945.66,"body":"to win clients, how to keep"},{"speaker":"Andy Hart","startTime":5945.66,"endTime":5949.5599999999995,"body":"clients, how to manage teams."},{"speaker":"Andy Hart","startTime":5945.66,"endTime":5949.5599999999995,"body":"It's an awesome book. It's not"},{"speaker":"Andy Hart","startTime":5949.5599999999995,"endTime":5952.14,"body":"that big. You get through it"},{"speaker":"Andy Hart","startTime":5949.5599999999995,"endTime":5952.14,"body":"quite quickly. He's a he's a"},{"speaker":"Andy Hart","startTime":5952.14,"endTime":5955.86,"body":"great wordsmith. Uses amazing"},{"speaker":"Andy Hart","startTime":5952.14,"endTime":5955.86,"body":"words, words that I can't"},{"speaker":"Andy Hart","startTime":5955.86,"endTime":5959.24,"body":"pronounce or read, but it's a"},{"speaker":"Andy Hart","startTime":5955.86,"endTime":5959.24,"body":"strong recommendation from the"},{"speaker":"Andy Hart","startTime":5959.24,"endTime":5964.0999999999995,"body":"Confessions of an advertising"},{"speaker":"Andy Hart","startTime":5959.24,"endTime":5964.0999999999995,"body":"man, David Ogilvy, good"},{"speaker":"Andy Hart","startTime":5964.0999999999995,"endTime":5967.94,"body":"Scotsman, advisors should"},{"speaker":"Andy Hart","startTime":5964.0999999999995,"endTime":5967.94,"body":"definitely"},{"speaker":"Nick Lincoln","startTime":5967.94,"endTime":5969.68,"body":"sales. We need"},{"speaker":"Nick Lincoln","startTime":5967.94,"endTime":5969.68,"body":"everything. I read that book"},{"speaker":"Nick Lincoln","startTime":5969.68,"endTime":5971.96,"body":"years ago. So, very, very good"},{"speaker":"Nick Lincoln","startTime":5969.68,"endTime":5971.96,"body":"book salesman."},{"speaker":"Unknown","startTime":5975.0199999999995,"endTime":5977.38,"body":"End of this mess. Nick,"},{"speaker":"Unknown","startTime":5975.0199999999995,"endTime":5977.38,"body":"please."},{"speaker":"Nick Lincoln","startTime":5977.86,"endTime":5981.28,"body":"Yep. Okay, all"},{"speaker":"Nick Lincoln","startTime":5977.86,"endTime":5981.28,"body":"right. Mine is my culture"},{"speaker":"Nick Lincoln","startTime":5981.28,"endTime":5985.0,"body":"corner. Is a podcast, city wire"},{"speaker":"Nick Lincoln","startTime":5981.28,"endTime":5985.0,"body":"podcast. Listen to it today. The"},{"speaker":"Nick Lincoln","startTime":5985.0,"endTime":5989.14,"body":"two sort of eminent Greece is at"},{"speaker":"Nick Lincoln","startTime":5985.0,"endTime":5989.14,"body":"City wire, Daniel grote and"},{"speaker":"Nick Lincoln","startTime":5989.14,"endTime":5991.9,"body":"Lawrence lever. Daniel groat has"},{"speaker":"Nick Lincoln","startTime":5989.14,"endTime":5991.9,"body":"written a long piece about the"},{"speaker":"Nick Lincoln","startTime":5991.9,"endTime":5995.14,"body":"SGP charges, their revised"},{"speaker":"Nick Lincoln","startTime":5991.9,"endTime":5995.14,"body":"charges, which came out last"},{"speaker":"Nick Lincoln","startTime":5995.14,"endTime":5997.2,"body":"year. And I thought I better"},{"speaker":"Nick Lincoln","startTime":5995.14,"endTime":5997.2,"body":"listen first time. Try and"},{"speaker":"Nick Lincoln","startTime":5997.2,"endTime":5999.66,"body":"understand them. For the first"},{"speaker":"Nick Lincoln","startTime":5997.2,"endTime":5999.66,"body":"time in my life, listen to it."},{"speaker":"Nick Lincoln","startTime":5999.66,"endTime":6002.36,"body":"Still don't understand them, but"},{"speaker":"Nick Lincoln","startTime":5999.66,"endTime":6002.36,"body":"have got a better understanding."},{"speaker":"Nick Lincoln","startTime":6002.36,"endTime":6004.64,"body":"And it's clearly Daniel grow"},{"speaker":"Nick Lincoln","startTime":6002.36,"endTime":6004.64,"body":"who's written this long piece,"},{"speaker":"Nick Lincoln","startTime":6004.64,"endTime":6007.64,"body":"doesn't quite there's still a"},{"speaker":"Nick Lincoln","startTime":6004.64,"endTime":6007.64,"body":"bit of a mess. But basically, on"},{"speaker":"Nick Lincoln","startTime":6007.64,"endTime":6012.08,"body":"ices, which are 20% of the SJB"},{"speaker":"Nick Lincoln","startTime":6007.64,"endTime":6012.08,"body":"book, they've got rid of the"},{"speaker":"Nick Lincoln","startTime":6012.08,"endTime":6015.5,"body":"half percent initial charge. We"},{"speaker":"Nick Lincoln","startTime":6012.08,"endTime":6015.5,"body":"should go straight to SJP. Wow."},{"speaker":"Nick Lincoln","startTime":6015.62,"endTime":6019.24,"body":"And the initial charge the"},{"speaker":"Nick Lincoln","startTime":6015.62,"endTime":6019.24,"body":"advisors can levy is now capped"},{"speaker":"Nick Lincoln","startTime":6019.24,"endTime":6024.64,"body":"at 3% and the ongoing all in"},{"speaker":"Nick Lincoln","startTime":6019.24,"endTime":6024.64,"body":"charge is 1.59% and on pensions"},{"speaker":"Nick Lincoln","startTime":6024.64,"endTime":6028.0,"body":"and life, which is the massive"},{"speaker":"Nick Lincoln","startTime":6024.64,"endTime":6028.0,"body":"part of their book, they waive"},{"speaker":"Nick Lincoln","startTime":6028.0599999999995,"endTime":6031.96,"body":"the 1.5% initial charge, which"},{"speaker":"Nick Lincoln","startTime":6028.0599999999995,"endTime":6031.96,"body":"is to go straight to SGPs back"},{"speaker":"Nick Lincoln","startTime":6031.96,"endTime":6035.2,"body":"pocket, that's gone and again,"},{"speaker":"Nick Lincoln","startTime":6031.96,"endTime":6035.2,"body":"the initial advice charge is"},{"speaker":"Nick Lincoln","startTime":6035.2,"endTime":6038.46,"body":"capped at 3% or less, If you"},{"speaker":"Nick Lincoln","startTime":6035.2,"endTime":6038.46,"body":"want to. And the ongoing charge"},{"speaker":"Nick Lincoln","startTime":6038.46,"endTime":6042.66,"body":"is 1.67% a year, and they've got"},{"speaker":"Nick Lincoln","startTime":6038.46,"endTime":6042.66,"body":"rid of the exit charges. So it's"},{"speaker":"Nick Lincoln","startTime":6042.66,"endTime":6048.0,"body":"a big turnaround. I wasn't quite"},{"speaker":"Nick Lincoln","startTime":6042.66,"endTime":6048.0,"body":"clear where the fund charges."},{"speaker":"Nick Lincoln","startTime":6048.0,"endTime":6050.58,"body":"Daniel Groce, these figures, the"},{"speaker":"Nick Lincoln","startTime":6048.0,"endTime":6050.58,"body":"ongoing charges are kind of"},{"speaker":"Nick Lincoln","startTime":6050.58,"endTime":6053.5199999999995,"body":"fixed. I was thinking it sort of"},{"speaker":"Nick Lincoln","startTime":6050.58,"endTime":6053.5199999999995,"body":"depends what underlying fund you"},{"speaker":"Nick Lincoln","startTime":6053.5199999999995,"endTime":6056.04,"body":"go into, because that's part of"},{"speaker":"Nick Lincoln","startTime":6053.5199999999995,"endTime":6056.04,"body":"that mix. But I listen to I"},{"speaker":"Nick Lincoln","startTime":6056.04,"endTime":6058.94,"body":"didn't quite get it. Their"},{"speaker":"Nick Lincoln","startTime":6056.04,"endTime":6058.94,"body":"charges have come down little"},{"speaker":"Nick Lincoln","startTime":6058.94,"endTime":6061.94,"body":"bit, but not by a great deal,"},{"speaker":"Nick Lincoln","startTime":6058.94,"endTime":6061.94,"body":"but they have weighed the exit"},{"speaker":"Nick Lincoln","startTime":6061.94,"endTime":6064.58,"body":"charges, which is a good thing."},{"speaker":"Nick Lincoln","startTime":6061.94,"endTime":6064.58,"body":"So if you want an explanation of"},{"speaker":"Nick Lincoln","startTime":6064.58,"endTime":6067.22,"body":"it, classic media brand though,"},{"speaker":"Nick Lincoln","startTime":6064.58,"endTime":6067.22,"body":"city wire, all they are is a"},{"speaker":"Nick Lincoln","startTime":6067.22,"endTime":6069.86,"body":"media brand, and they talk about"},{"speaker":"Nick Lincoln","startTime":6067.22,"endTime":6069.86,"body":"this long piece that Daniel"},{"speaker":"Nick Lincoln","startTime":6069.86,"endTime":6072.8,"body":"wrote. You look at the show"},{"speaker":"Nick Lincoln","startTime":6069.86,"endTime":6072.8,"body":"notes, and there's no link to"},{"speaker":"Nick Lincoln","startTime":6072.8,"endTime":6075.62,"body":"it. So a bit of a fail from city"},{"speaker":"Nick Lincoln","startTime":6072.8,"endTime":6075.62,"body":"wide. Apart from that,"},{"speaker":"Carl Widger","startTime":6075.74,"endTime":6078.16,"body":"what a. What a"},{"speaker":"Carl Widger","startTime":6075.74,"endTime":6078.16,"body":"wonderful culture. Corner Nick,"},{"speaker":"Carl Widger","startTime":6078.16,"endTime":6079.78,"body":"thanks for sharing. Yeah. Well,"},{"speaker":"Nick Lincoln","startTime":6079.78,"endTime":6080.92,"body":"you know, I'm an"},{"speaker":"Nick Lincoln","startTime":6079.78,"endTime":6080.92,"body":"icky guy. I should"},{"speaker":"Unknown","startTime":6083.26,"endTime":6084.94,"body":"have said. I should"},{"speaker":"Nick Lincoln","startTime":6086.86,"endTime":6091.0599999999995,"body":"have kept quiet"},{"speaker":"Nick Lincoln","startTime":6086.86,"endTime":6091.0599999999995,"body":"and just let you guys talk about"},{"speaker":"Nick Lincoln","startTime":6091.12,"endTime":6094.36,"body":"um, yeah, living extraordinary"},{"speaker":"Nick Lincoln","startTime":6091.12,"endTime":6094.36,"body":"lives with icky guys, but um,"},{"speaker":"Nick Lincoln","startTime":6094.36,"endTime":6094.96,"body":"there we go."},{"speaker":"Andy Hart","startTime":6096.4,"endTime":6099.5999999999995,"body":"Right. Thank you."},{"speaker":"Andy Hart","startTime":6096.4,"endTime":6099.5999999999995,"body":"Okay, are we done? Go"},{"speaker":"Alan Smith","startTime":6099.899,"endTime":6103.799,"body":"and shout at your"},{"speaker":"Alan Smith","startTime":6099.899,"endTime":6103.799,"body":"virgin. 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Having,"},{"speaker":"Nick Lincoln","startTime":6112.5,"endTime":6115.5599999999995,"body":"I don't care the court is not as"},{"speaker":"Nick Lincoln","startTime":6115.5599999999995,"endTime":6118.82,"body":"great. This is so much easier,"},{"speaker":"Nick Lincoln","startTime":6115.5599999999995,"endTime":6118.82,"body":"right? There's episode Sloss on"},{"speaker":"Nick Lincoln","startTime":6118.82,"endTime":6122.54,"body":"nerve comes to a sticky,"},{"speaker":"Nick Lincoln","startTime":6118.82,"endTime":6122.54,"body":"pleasant end, another pile of"},{"speaker":"Nick Lincoln","startTime":6122.54,"endTime":6126.44,"body":"trap slides down the U Bender,"},{"speaker":"Nick Lincoln","startTime":6122.54,"endTime":6126.44,"body":"Father, thank you. Do leave a"},{"speaker":"Nick Lincoln","startTime":6126.68,"endTime":6129.5599999999995,"body":"review. False rate and leave us"},{"speaker":"Nick Lincoln","startTime":6126.68,"endTime":6129.5599999999995,"body":"a review. Six out five stars is"},{"speaker":"Nick Lincoln","startTime":6129.5599999999995,"endTime":6132.08,"body":"mandatory. Like and subscribe to"},{"speaker":"Nick Lincoln","startTime":6129.5599999999995,"endTime":6132.08,"body":"our YouTube channel. Buy those"},{"speaker":"Nick Lincoln","startTime":6132.08,"endTime":6134.78,"body":"remaining trap live tickets,"},{"speaker":"Nick Lincoln","startTime":6132.08,"endTime":6134.78,"body":"which are going and like, three"},{"speaker":"Nick Lincoln","startTime":6134.78,"endTime":6137.86,"body":"and a half grand a pop. Now that"},{"speaker":"Nick Lincoln","startTime":6134.78,"endTime":6137.86,"body":"is the demand true story. So"},{"speaker":"Nick Lincoln","startTime":6137.86,"endTime":6140.92,"body":"until the next time from the"},{"speaker":"Nick Lincoln","startTime":6137.86,"endTime":6140.92,"body":"trap pack, it's Adios, take care"},{"speaker":"Nick Lincoln","startTime":6140.92,"endTime":6143.08,"body":"of there, and we'll see you on"},{"speaker":"Nick Lincoln","startTime":6140.92,"endTime":6143.08,"body":"the other side. Good"},{"speaker":"Unknown","startTime":6143.86,"endTime":6145.36,"body":"bye."},{"speaker":"Unknown","startTime":6145.84,"endTime":6147.88,"body":"Goodbye, goodbye. Ciao,"},{"speaker":"Unknown","startTime":6154.24,"endTime":6155.5,"body":"what fucking mess that was."}]}