{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":6.36,"endTime":16.44,"body":"A welcome to the Real"},{"speaker":"Unknown","startTime":6.36,"endTime":16.44,"body":"Advisor Podcast, T R A P trap."},{"speaker":"Unknown","startTime":16.98,"endTime":20.07,"body":"Please follow us and join in the"},{"speaker":"Unknown","startTime":16.98,"endTime":20.07,"body":"conversation on Twitter at"},{"speaker":"Unknown","startTime":20.16,"endTime":23.84,"body":"Advisor Podcast, where you can"},{"speaker":"Unknown","startTime":20.16,"endTime":23.84,"body":"suggest ideas and themes you'd"},{"speaker":"Unknown","startTime":23.9,"endTime":27.32,"body":"like the trap team to discuss."},{"speaker":"Unknown","startTime":23.9,"endTime":27.32,"body":"Also, remember to like and"},{"speaker":"Unknown","startTime":27.38,"endTime":30.38,"body":"subscribe to our YouTube"},{"speaker":"Unknown","startTime":27.38,"endTime":30.38,"body":"channel, and leave a six out of"},{"speaker":"Unknown","startTime":30.44,"endTime":33.86,"body":"five star review on iTunes."},{"speaker":"Unknown","startTime":30.44,"endTime":33.86,"body":"Doing all this really, really"},{"speaker":"Unknown","startTime":33.95,"endTime":37.58,"body":"helps us, which means we can do"},{"speaker":"Unknown","startTime":33.95,"endTime":37.58,"body":"more to help you. Now, let's"},{"speaker":"Unknown","startTime":37.64,"endTime":47.62,"body":"head over to the studio for the"},{"speaker":"Unknown","startTime":37.64,"endTime":47.62,"body":"latest pile of trap, you Yes,"},{"speaker":"Nick Lincoln","startTime":47.71,"endTime":49.69,"body":"indeed. Dear"},{"speaker":"Nick Lincoln","startTime":47.71,"endTime":49.69,"body":"Travis, welcome back to what"},{"speaker":"Nick Lincoln","startTime":49.69,"endTime":54.07,"body":"many people are calling episode"},{"speaker":"Nick Lincoln","startTime":49.69,"endTime":54.07,"body":"100 the end of the Real Advisor"},{"speaker":"Nick Lincoln","startTime":54.13,"endTime":57.37,"body":"Podcast, T R A P Trap. My name"},{"speaker":"Nick Lincoln","startTime":54.13,"endTime":57.37,"body":"is Lick Lincoln, and joining me"},{"speaker":"Nick Lincoln","startTime":57.55,"endTime":61.92,"body":"somehow in a chaotic, properly"},{"speaker":"Nick Lincoln","startTime":57.55,"endTime":61.92,"body":"chaotic digital studio of Doom"},{"speaker":"Nick Lincoln","startTime":61.95,"endTime":64.71,"body":"of the three other horsemen of"},{"speaker":"Nick Lincoln","startTime":61.95,"endTime":64.71,"body":"the apocalypse, Alan the"},{"speaker":"Nick Lincoln","startTime":64.74,"endTime":68.01,"body":"storyteller, Smith Carl the"},{"speaker":"Nick Lincoln","startTime":64.74,"endTime":68.01,"body":"voice, Stella Vochi, would you"},{"speaker":"Nick Lincoln","startTime":69.24,"endTime":72.09,"body":"and the ultra heart. Now,"},{"speaker":"Nick Lincoln","startTime":69.24,"endTime":72.09,"body":"gentlemen, we have a show packed"},{"speaker":"Nick Lincoln","startTime":72.15,"endTime":76.77,"body":"full of app absolutely nothing,"},{"speaker":"Nick Lincoln","startTime":72.15,"endTime":76.77,"body":"so let's start unpacking it"},{"speaker":"Nick Lincoln","startTime":76.8,"endTime":79.2,"body":"straight away by going straight"},{"speaker":"Nick Lincoln","startTime":76.8,"endTime":79.2,"body":"into the topical tidbits."},{"speaker":"Nick Lincoln","startTime":81.27,"endTime":85.28,"body":"Awkward pause, right. Who's"},{"speaker":"Nick Lincoln","startTime":81.27,"endTime":85.28,"body":"first off? It's me. It's me. The"},{"speaker":"Nick Lincoln","startTime":85.31,"endTime":87.8,"body":"topical tidbits, yes. So just"},{"speaker":"Nick Lincoln","startTime":85.31,"endTime":87.8,"body":"let you know, the good friends"},{"speaker":"Nick Lincoln","startTime":87.83,"endTime":90.65,"body":"of the show, Vanguard, up and"},{"speaker":"Nick Lincoln","startTime":87.83,"endTime":90.65,"body":"coming asset manager, they need"},{"speaker":"Nick Lincoln","startTime":90.68,"endTime":93.98,"body":"your money, give them some."},{"speaker":"Nick Lincoln","startTime":90.68,"endTime":93.98,"body":"Vanguard had their annual Tough"},{"speaker":"Nick Lincoln","startTime":94.16,"endTime":98.57,"body":"Mudder thing, which is like a"},{"speaker":"Nick Lincoln","startTime":94.16,"endTime":98.57,"body":"physical exercise in a field"},{"speaker":"Nick Lincoln","startTime":98.66,"endTime":101.56,"body":"involving mud and slides and"},{"speaker":"Nick Lincoln","startTime":98.66,"endTime":101.56,"body":"shit, and it's going on Friday,"},{"speaker":"Nick Lincoln","startTime":101.59,"endTime":105.43,"body":"the 18th of September, and the"},{"speaker":"Nick Lincoln","startTime":101.59,"endTime":105.43,"body":"track team are taking part, and"},{"speaker":"Nick Lincoln","startTime":105.49,"endTime":107.8,"body":"we'd love to see you there. It's"},{"speaker":"Nick Lincoln","startTime":105.49,"endTime":107.8,"body":"gonna be a fun day, I think, in"},{"speaker":"Nick Lincoln","startTime":107.89,"endTime":110.83,"body":"West Sussex. So, get yourself"},{"speaker":"Nick Lincoln","startTime":107.89,"endTime":110.83,"body":"registered, enter as an"},{"speaker":"Nick Lincoln","startTime":110.86,"endTime":113.95,"body":"individual or as a team. Great"},{"speaker":"Nick Lincoln","startTime":110.86,"endTime":113.95,"body":"way of fostering team skills,"},{"speaker":"Nick Lincoln","startTime":114.04,"endTime":114.79,"body":"I'm told, whatever they are."},{"speaker":"Carl Widger","startTime":116.08,"endTime":118.48,"body":"I actually looked,"},{"speaker":"Carl Widger","startTime":116.08,"endTime":118.48,"body":"I looked at this dick on"},{"speaker":"Carl Widger","startTime":119.5,"endTime":122.85,"body":"YouTube, some YouTube clips, but"},{"speaker":"Carl Widger","startTime":119.5,"endTime":122.85,"body":"you have to work as a team to"},{"speaker":"Carl Widger","startTime":122.88,"endTime":125.16,"body":"get over like 10 foot walls and"},{"speaker":"Carl Widger","startTime":122.88,"endTime":125.16,"body":"stuff."},{"speaker":"Nick Lincoln","startTime":126.21,"endTime":127.71,"body":"I don't tell"},{"speaker":"Nick Lincoln","startTime":126.21,"endTime":127.71,"body":"myself I'll be fine. Yeah,"},{"speaker":"Carl Widger","startTime":129.09,"endTime":133.95,"body":"I was not gonna"},{"speaker":"Carl Widger","startTime":129.09,"endTime":133.95,"body":"work in this group here. Friday"},{"speaker":"Carl Widger","startTime":134.37,"endTime":134.7,"body":"got over"},{"speaker":"Alan Smith","startTime":134.85,"endTime":138.21,"body":"first. Just run away"},{"speaker":"Nick Lincoln","startTime":139.44,"endTime":144.86,"body":"Friday, the 18th"},{"speaker":"Nick Lincoln","startTime":139.44,"endTime":144.86,"body":"of September in Sussex, RH 12,"},{"speaker":"Nick Lincoln","startTime":144.98,"endTime":148.82,"body":"what's that, Reigate, Red Hill,"},{"speaker":"Nick Lincoln","startTime":144.98,"endTime":148.82,"body":"Red Hill, Red Hill area? Do"},{"speaker":"Nick Lincoln","startTime":149.12,"endTime":151.55,"body":"register, and the trap team will"},{"speaker":"Nick Lincoln","startTime":149.12,"endTime":151.55,"body":"be there. Be great to see as"},{"speaker":"Nick Lincoln","startTime":151.64,"endTime":153.56,"body":"many of you as possibly"},{"speaker":"Alan Smith","startTime":153.859,"endTime":156.709,"body":"glad that you've"},{"speaker":"Alan Smith","startTime":153.859,"endTime":156.709,"body":"named it properly. I saw on the"},{"speaker":"Alan Smith","startTime":156.709,"endTime":162.369,"body":"slate you had it down as bad"},{"speaker":"Alan Smith","startTime":156.709,"endTime":162.369,"body":"mother. I was just waiting, I"},{"speaker":"Alan Smith","startTime":162.369,"endTime":165.129,"body":"was just waiting to catch you,"},{"speaker":"Alan Smith","startTime":162.369,"endTime":165.129,"body":"but you actually named it"},{"speaker":"Alan Smith","startTime":165.129,"endTime":165.519,"body":"correctly."},{"speaker":"Nick Lincoln","startTime":165.789,"endTime":168.099,"body":"Bad Mudder sounds"},{"speaker":"Nick Lincoln","startTime":165.789,"endTime":168.099,"body":"like a sort of cringy 70s rock"},{"speaker":"Nick Lincoln","startTime":168.219,"endTime":170.919,"body":"band, isn't it? Yeah, tough."},{"speaker":"Nick Lincoln","startTime":168.219,"endTime":170.919,"body":"Okay,"},{"speaker":"Alan Smith","startTime":171.219,"endTime":171.969,"body":"mudder. Yeah,"},{"speaker":"Nick Lincoln","startTime":172.179,"endTime":174.579,"body":"haven't got rid of"},{"speaker":"Nick Lincoln","startTime":172.179,"endTime":174.579,"body":"some of the admin and done that."},{"speaker":"Nick Lincoln","startTime":174.609,"endTime":177.519,"body":"Let's go on to the next topical"},{"speaker":"Nick Lincoln","startTime":174.609,"endTime":177.519,"body":"tip, bitch, which is Ultra."},{"speaker":"Andy Hart","startTime":178.57,"endTime":180.64,"body":"I did do the original"},{"speaker":"Andy Hart","startTime":178.57,"endTime":180.64,"body":"Tough Mudder, is absolutely"},{"speaker":"Andy Hart","startTime":180.82,"endTime":182.67,"body":"hell. It's one of the most"},{"speaker":"Andy Hart","startTime":180.82,"endTime":182.67,"body":"hardest things I've ever had to"},{"speaker":"Andy Hart","startTime":182.7,"endTime":184.59,"body":"do. So we're not"},{"speaker":"Alan Smith","startTime":184.649,"endTime":187.349,"body":"doing it, so clearly"},{"speaker":"Alan Smith","startTime":184.649,"endTime":187.349,"body":"good, good"},{"speaker":"Andy Hart","startTime":187.41,"endTime":191.25,"body":"luck everybody. Okay,"},{"speaker":"Andy Hart","startTime":187.41,"endTime":191.25,"body":"so I was my first awful tip"},{"speaker":"Andy Hart","startTime":191.34,"endTime":194.07,"body":"here. I'm not sure if this"},{"speaker":"Andy Hart","startTime":191.34,"endTime":194.07,"body":"provider company has been"},{"speaker":"Andy Hart","startTime":194.13,"endTime":198.36,"body":"mentioned before. A company"},{"speaker":"Andy Hart","startTime":194.13,"endTime":198.36,"body":"called Bear Rock, they are a PI"},{"speaker":"Andy Hart","startTime":198.66,"endTime":202.49,"body":"insurance company that's doing"},{"speaker":"Andy Hart","startTime":198.66,"endTime":202.49,"body":"some innovative things in the"},{"speaker":"Andy Hart","startTime":202.58,"endTime":205.64,"body":"IFA world, they've got a new"},{"speaker":"Andy Hart","startTime":202.58,"endTime":205.64,"body":"white paper that's called"},{"speaker":"Andy Hart","startTime":205.7,"endTime":209.99,"body":"Prevention is Better Than Cure,"},{"speaker":"Andy Hart","startTime":205.7,"endTime":209.99,"body":"a field guide, which is a PDF"},{"speaker":"Andy Hart","startTime":210.05,"endTime":213.86,"body":"that goes into quite a lot of"},{"speaker":"Andy Hart","startTime":210.05,"endTime":213.86,"body":"detail about complaints, really,"},{"speaker":"Andy Hart","startTime":213.92,"endTime":218.42,"body":"and how to be on the front foot"},{"speaker":"Andy Hart","startTime":213.92,"endTime":218.42,"body":"around this. I've read through"},{"speaker":"Andy Hart","startTime":219.14,"endTime":222.43,"body":"it, the top five things that"},{"speaker":"Andy Hart","startTime":219.14,"endTime":222.43,"body":"they've found in their study is"},{"speaker":"Andy Hart","startTime":222.79,"endTime":226.84,"body":"most complaints stem from"},{"speaker":"Andy Hart","startTime":222.79,"endTime":226.84,"body":"confusion, not malice. Point"},{"speaker":"Andy Hart","startTime":226.84,"endTime":230.17,"body":"number two, memory fades faster"},{"speaker":"Andy Hart","startTime":226.84,"endTime":230.17,"body":"than you think. I think that's"},{"speaker":"Andy Hart","startTime":230.23,"endTime":232.96,"body":"in relation to clients retaining"},{"speaker":"Andy Hart","startTime":230.23,"endTime":232.96,"body":"what they were told."},{"speaker":"Andy Hart","startTime":232.99,"endTime":237.55,"body":"Potentially, ongoing engagement"},{"speaker":"Andy Hart","startTime":232.99,"endTime":237.55,"body":"is your best protection. That's"},{"speaker":"Andy Hart","startTime":237.58,"endTime":240.45,"body":"something that will play into"},{"speaker":"Andy Hart","startTime":237.58,"endTime":240.45,"body":"the hands of people that are"},{"speaker":"Andy Hart","startTime":240.45,"endTime":242.79,"body":"providing a proper service and"},{"speaker":"Andy Hart","startTime":240.45,"endTime":242.79,"body":"seeing their clients regularly."},{"speaker":"Andy Hart","startTime":243.57,"endTime":246.93,"body":"Point number four, clients won't"},{"speaker":"Andy Hart","startTime":243.57,"endTime":246.93,"body":"always tell you when they're"},{"speaker":"Andy Hart","startTime":246.99,"endTime":249.18,"body":"confused. That's quite an"},{"speaker":"Andy Hart","startTime":246.99,"endTime":249.18,"body":"interesting point to be aware"},{"speaker":"Andy Hart","startTime":249.33,"endTime":254.46,"body":"of. And the final point is, how"},{"speaker":"Andy Hart","startTime":249.33,"endTime":254.46,"body":"clients discover problems matter"},{"speaker":"Andy Hart","startTime":254.55,"endTime":257.85,"body":"enormously. When clients find"},{"speaker":"Andy Hart","startTime":254.55,"endTime":257.85,"body":"issues themselves, their"},{"speaker":"Andy Hart","startTime":257.91,"endTime":260.6,"body":"reaction is disproportionately"},{"speaker":"Andy Hart","startTime":257.91,"endTime":260.6,"body":"negative compared to when"},{"speaker":"Andy Hart","startTime":260.63,"endTime":265.37,"body":"advisors disclose problems"},{"speaker":"Andy Hart","startTime":260.63,"endTime":265.37,"body":"proactively, so yeah, it's worth"},{"speaker":"Andy Hart","startTime":265.58,"endTime":269.0,"body":"a read, and I believe they're"},{"speaker":"Andy Hart","startTime":265.58,"endTime":269.0,"body":"sort of pitching themselves as"},{"speaker":"Andy Hart","startTime":269.24,"endTime":275.81,"body":"offering PI insurance to"},{"speaker":"Andy Hart","startTime":269.24,"endTime":275.81,"body":"slightly better, cleaner, more"},{"speaker":"Andy Hart","startTime":275.87,"endTime":279.2,"body":"vanilla firms than the ones that"},{"speaker":"Andy Hart","startTime":275.87,"endTime":279.2,"body":"have sort of historically done"},{"speaker":"Andy Hart","startTime":279.8,"endTime":281.56,"body":"products here, there, and"},{"speaker":"Andy Hart","startTime":279.8,"endTime":281.56,"body":"everywhere, so yeah, check it"},{"speaker":"Andy Hart","startTime":281.59,"endTime":284.11,"body":"out as a link in the show notes."},{"speaker":"Andy Hart","startTime":281.59,"endTime":284.11,"body":"Bear Rock, I'm not sure if any"},{"speaker":"Andy Hart","startTime":284.11,"endTime":287.44,"body":"of you read this guy, but it's"},{"speaker":"Andy Hart","startTime":284.11,"endTime":287.44,"body":"worth scrolling through. Alan,"},{"speaker":"Andy Hart","startTime":287.53,"endTime":289.48,"body":"you're aware of the guys there,"},{"speaker":"Andy Hart","startTime":287.53,"endTime":289.48,"body":"and"},{"speaker":"Alan Smith","startTime":290.019,"endTime":292.779,"body":"yeah, I think I did."},{"speaker":"Alan Smith","startTime":290.019,"endTime":292.779,"body":"I have mentioned them maybe a"},{"speaker":"Alan Smith","startTime":292.839,"endTime":296.169,"body":"couple of years ago when they"},{"speaker":"Alan Smith","startTime":292.839,"endTime":296.169,"body":"were a relatively new entrants,"},{"speaker":"Alan Smith","startTime":297.489,"endTime":300.479,"body":"I think they sort of put"},{"speaker":"Alan Smith","startTime":297.489,"endTime":300.479,"body":"themselves forward as. Very kind"},{"speaker":"Alan Smith","startTime":300.509,"endTime":303.029,"body":"of digital and tech led, as far"},{"speaker":"Alan Smith","startTime":300.509,"endTime":303.029,"body":"as they've"},{"speaker":"Andy Hart","startTime":303.09,"endTime":305.28,"body":"got, they've got a"},{"speaker":"Andy Hart","startTime":303.09,"endTime":305.28,"body":"platform, and it's Jonathan"},{"speaker":"Andy Hart","startTime":305.34,"endTime":305.85,"body":"Newell, and"},{"speaker":"Alan Smith","startTime":306.239,"endTime":306.299,"body":"yeah,"},{"speaker":"Andy Hart","startTime":306.48,"endTime":308.49,"body":"John Netting and Lee"},{"speaker":"Andy Hart","startTime":306.48,"endTime":308.49,"body":"Robertson are part of the gang,"},{"speaker":"Andy Hart","startTime":308.52,"endTime":310.14,"body":"and they're building it out, so"},{"speaker":"Andy Hart","startTime":308.52,"endTime":310.14,"body":"yeah, Lee Robertson is"},{"speaker":"Alan Smith","startTime":310.2,"endTime":310.8,"body":"part of it, is he?"},{"speaker":"Nick Lincoln","startTime":311.009,"endTime":312.599,"body":"I believe so,"},{"speaker":"Nick Lincoln","startTime":311.009,"endTime":312.599,"body":"yeah,"},{"speaker":"Alan Smith","startTime":312.78,"endTime":313.17,"body":"doing that,"},{"speaker":"Andy Hart","startTime":313.53,"endTime":314.07,"body":"doing good work,"},{"speaker":"Alan Smith","startTime":314.19,"endTime":315.66,"body":"yeah, Jonathan Yule"},{"speaker":"Alan Smith","startTime":314.19,"endTime":315.66,"body":"has been around a long time,"},{"speaker":"Alan Smith","startTime":315.99,"endTime":318.36,"body":"it's, it'll be interesting, and"},{"speaker":"Alan Smith","startTime":315.99,"endTime":318.36,"body":"I know we're going to touch on"},{"speaker":"Alan Smith","startTime":318.39,"endTime":321.92,"body":"this later in the topical tip,"},{"speaker":"Alan Smith","startTime":318.39,"endTime":321.92,"body":"bits be interesting to see how"},{"speaker":"Alan Smith","startTime":322.61,"endTime":325.88,"body":"AI impacts on compliance and"},{"speaker":"Alan Smith","startTime":322.61,"endTime":325.88,"body":"complaints and things like that."},{"speaker":"Alan Smith","startTime":325.88,"endTime":328.7,"body":"Well, you've got a lot of"},{"speaker":"Alan Smith","startTime":325.88,"endTime":328.7,"body":"meetings recorded, you've got"},{"speaker":"Alan Smith","startTime":328.76,"endTime":334.19,"body":"the actual audio file, how that"},{"speaker":"Alan Smith","startTime":328.76,"endTime":334.19,"body":"will impact it, could be it"},{"speaker":"Alan Smith","startTime":334.28,"endTime":337.01,"body":"could go either way. Blessings,"},{"speaker":"Alan Smith","startTime":334.28,"endTime":337.01,"body":"yeah. Probably,"},{"speaker":"Nick Lincoln","startTime":337.49,"endTime":338.81,"body":"you know, that's"},{"speaker":"Nick Lincoln","startTime":337.49,"endTime":338.81,"body":"that's what I've been doing"},{"speaker":"Nick Lincoln","startTime":338.96,"endTime":342.04,"body":"really since 2000 well, for at"},{"speaker":"Nick Lincoln","startTime":338.96,"endTime":342.04,"body":"least 1010 years or so, is"},{"speaker":"Nick Lincoln","startTime":342.1,"endTime":344.8,"body":"recording all my meetings, so"},{"speaker":"Nick Lincoln","startTime":342.1,"endTime":344.8,"body":"for good or bad, I've got a"},{"speaker":"Nick Lincoln","startTime":344.83,"endTime":347.35,"body":"complete audit trail, because"},{"speaker":"Nick Lincoln","startTime":344.83,"endTime":347.35,"body":"the memory point you made there,"},{"speaker":"Nick Lincoln","startTime":347.95,"endTime":351.88,"body":"ultra, is very, I think, a spot"},{"speaker":"Nick Lincoln","startTime":347.95,"endTime":351.88,"body":"on people, not only as we get"},{"speaker":"Nick Lincoln","startTime":351.97,"endTime":353.95,"body":"older, does our memory fade, but"},{"speaker":"Nick Lincoln","startTime":351.97,"endTime":353.95,"body":"people will choose to retain"},{"speaker":"Nick Lincoln","startTime":354.01,"endTime":355.96,"body":"those memories, that those"},{"speaker":"Nick Lincoln","startTime":354.01,"endTime":355.96,"body":"messages they want, I think they"},{"speaker":"Nick Lincoln","startTime":356.08,"endTime":359.68,"body":"heard, and echo chamber in"},{"speaker":"Nick Lincoln","startTime":356.08,"endTime":359.68,"body":"clients' minds, and you did say"},{"speaker":"Nick Lincoln","startTime":359.8,"endTime":362.49,"body":"that you didn't actually, you"},{"speaker":"Nick Lincoln","startTime":359.8,"endTime":362.49,"body":"just about the audio from 10"},{"speaker":"Nick Lincoln","startTime":362.49,"endTime":365.07,"body":"years ago. 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I would"},{"speaker":"Nick Lincoln","startTime":371.07,"endTime":374.01,"body":"say"},{"speaker":"Carl Widger","startTime":375.06,"endTime":377.28,"body":"you should go"},{"speaker":"Carl Widger","startTime":375.06,"endTime":377.28,"body":"directly into, because it is"},{"speaker":"Carl Widger","startTime":377.4,"endTime":380.24,"body":"linked to this, your topical"},{"speaker":"Carl Widger","startTime":377.4,"endTime":380.24,"body":"tidbit about your clients"},{"speaker":"Carl Widger","startTime":380.87,"endTime":383.87,"body":"vetting your ice via your advice"},{"speaker":"Carl Widger","startTime":380.87,"endTime":383.87,"body":"via AI, I think."},{"speaker":"Nick Lincoln","startTime":384.65,"endTime":387.47,"body":"Thank you. Okay,"},{"speaker":"Nick Lincoln","startTime":384.65,"endTime":387.47,"body":"nice one, Cole. Yeah, so I had"},{"speaker":"Nick Lincoln","startTime":387.5,"endTime":390.14,"body":"an annual planning meeting last"},{"speaker":"Nick Lincoln","startTime":387.5,"endTime":390.14,"body":"week with a with clients of my"},{"speaker":"Nick Lincoln","startTime":390.23,"endTime":397.01,"body":"long-standing clients, nice gay"},{"speaker":"Nick Lincoln","startTime":390.23,"endTime":397.01,"body":"couple, nice guys, and yeah,"},{"speaker":"Nick Lincoln","startTime":397.13,"endTime":401.38,"body":"they've always been.. they are"},{"speaker":"Nick Lincoln","startTime":397.13,"endTime":401.38,"body":"so they used to work for French"},{"speaker":"Nick Lincoln","startTime":401.47,"endTime":403.81,"body":"Connections, so then they're"},{"speaker":"Nick Lincoln","startTime":401.47,"endTime":403.81,"body":"very artistic, and they're very"},{"speaker":"Nick Lincoln","startTime":403.9,"endTime":407.38,"body":"that side of the brain. So, with"},{"speaker":"Nick Lincoln","startTime":403.9,"endTime":407.38,"body":"money, they're not, and they'd"},{"speaker":"Nick Lincoln","startTime":407.47,"endTime":410.44,"body":"say this, they're not perhaps"},{"speaker":"Nick Lincoln","startTime":407.47,"endTime":410.44,"body":"the most intuitive people with"},{"speaker":"Nick Lincoln","startTime":410.5,"endTime":412.66,"body":"money, and they've taken my"},{"speaker":"Nick Lincoln","startTime":410.5,"endTime":412.66,"body":"coaching over the years, and"},{"speaker":"Nick Lincoln","startTime":412.66,"endTime":414.22,"body":"I've had to push them to do"},{"speaker":"Nick Lincoln","startTime":412.66,"endTime":414.22,"body":"things, because I was a bit"},{"speaker":"Nick Lincoln","startTime":414.28,"endTime":416.56,"body":"reticent, but they've always"},{"speaker":"Nick Lincoln","startTime":414.28,"endTime":416.56,"body":"done what they would I told them"},{"speaker":"Nick Lincoln","startTime":416.59,"endTime":418.99,"body":"to do, and now they're entering"},{"speaker":"Nick Lincoln","startTime":416.59,"endTime":418.99,"body":"that next stage of their life,"},{"speaker":"Nick Lincoln","startTime":419.05,"endTime":420.9,"body":"where they're starting the"},{"speaker":"Nick Lincoln","startTime":419.05,"endTime":420.9,"body":"spending thing, and they're"},{"speaker":"Nick Lincoln","startTime":420.96,"endTime":423.45,"body":"turning off the income tax, and"},{"speaker":"Nick Lincoln","startTime":420.96,"endTime":423.45,"body":"their financial plans never look"},{"speaker":"Nick Lincoln","startTime":423.51,"endTime":427.77,"body":"so strong or robust, which is a"},{"speaker":"Nick Lincoln","startTime":423.51,"endTime":427.77,"body":"credit to them and a credit to"},{"speaker":"Nick Lincoln","startTime":427.83,"endTime":430.44,"body":"me. Well, they took the advice I"},{"speaker":"Nick Lincoln","startTime":427.83,"endTime":430.44,"body":"gave them, they didn't, they"},{"speaker":"Nick Lincoln","startTime":430.47,"endTime":433.38,"body":"enacted it, so they're in a good"},{"speaker":"Nick Lincoln","startTime":430.47,"endTime":433.38,"body":"position. However, you know, one"},{"speaker":"Nick Lincoln","startTime":433.5,"endTime":437.85,"body":"of them, and talk about memory"},{"speaker":"Nick Lincoln","startTime":433.5,"endTime":437.85,"body":"and loss of memory, and this is"},{"speaker":"Nick Lincoln","startTime":437.85,"endTime":439.83,"body":"a thing that we all know, that"},{"speaker":"Nick Lincoln","startTime":437.85,"endTime":439.83,"body":"one of the, one of the, one of"},{"speaker":"Nick Lincoln","startTime":439.89,"endTime":443.69,"body":"the guys, he is, he's averse,"},{"speaker":"Nick Lincoln","startTime":439.89,"endTime":443.69,"body":"he's got a real fear they're"},{"speaker":"Nick Lincoln","startTime":443.69,"endTime":445.64,"body":"going to run out of money,"},{"speaker":"Nick Lincoln","startTime":443.69,"endTime":445.64,"body":"because he grew up in poverty,"},{"speaker":"Nick Lincoln","startTime":446.78,"endTime":449.36,"body":"and that even though now they're"},{"speaker":"Nick Lincoln","startTime":446.78,"endTime":449.36,"body":"relatively affluent, that fear"},{"speaker":"Nick Lincoln","startTime":449.45,"endTime":452.57,"body":"never goes, you know, the early"},{"speaker":"Nick Lincoln","startTime":449.45,"endTime":452.57,"body":"muscle memories around money"},{"speaker":"Nick Lincoln","startTime":453.02,"endTime":455.87,"body":"tend to stay with you, and if"},{"speaker":"Nick Lincoln","startTime":453.02,"endTime":455.87,"body":"you, and short Alan, with your"},{"speaker":"Nick Lincoln","startTime":455.9,"endTime":457.85,"body":"bulletproof entrepreneur,"},{"speaker":"Nick Lincoln","startTime":455.9,"endTime":457.85,"body":"you've, I know you've dealt with"},{"speaker":"Nick Lincoln","startTime":457.88,"endTime":460.37,"body":"people who grew up in, in heart,"},{"speaker":"Nick Lincoln","startTime":457.88,"endTime":460.37,"body":"in hardship, and now got more"},{"speaker":"Nick Lincoln","startTime":460.43,"endTime":463.57,"body":"money than they than they can"},{"speaker":"Nick Lincoln","startTime":460.43,"endTime":463.57,"body":"ever need, but still probably"},{"speaker":"Nick Lincoln","startTime":463.72,"endTime":466.75,"body":"worry about it, because it's"},{"speaker":"Nick Lincoln","startTime":463.72,"endTime":466.75,"body":"hard to throw off those, those,"},{"speaker":"Nick Lincoln","startTime":466.84,"endTime":469.84,"body":"those formative years around"},{"speaker":"Nick Lincoln","startTime":466.84,"endTime":469.84,"body":"money, and one of the couple is"},{"speaker":"Nick Lincoln","startTime":469.93,"endTime":473.56,"body":"like that, but then they really"},{"speaker":"Nick Lincoln","startTime":469.93,"endTime":473.56,"body":"know that we've done great work"},{"speaker":"Nick Lincoln","startTime":473.68,"endTime":476.83,"body":"as a threesome together, really"},{"speaker":"Nick Lincoln","startTime":473.68,"endTime":476.83,"body":"good stuff, but the clients did"},{"speaker":"Nick Lincoln","startTime":477.01,"endTime":481.11,"body":"feed the whole history of our"},{"speaker":"Nick Lincoln","startTime":477.01,"endTime":481.11,"body":"relationship into Claude, that"},{"speaker":"Nick Lincoln","startTime":481.11,"endTime":484.71,"body":"was things like suitability"},{"speaker":"Nick Lincoln","startTime":481.11,"endTime":484.71,"body":"letters, emails, meeting"},{"speaker":"Nick Lincoln","startTime":486.78,"endTime":488.97,"body":"investment portfolios. Yeah, did"},{"speaker":"Nick Lincoln","startTime":486.78,"endTime":488.97,"body":"that as well, and said, \"Okay,"},{"speaker":"Nick Lincoln","startTime":489.51,"endTime":491.79,"body":"is our financial advisor giving"},{"speaker":"Nick Lincoln","startTime":489.51,"endTime":491.79,"body":"us good advice? Is there"},{"speaker":"Nick Lincoln","startTime":491.79,"endTime":494.46,"body":"anything we've missed out? And"},{"speaker":"Nick Lincoln","startTime":491.79,"endTime":494.46,"body":"then, when they told me they'd"},{"speaker":"Nick Lincoln","startTime":494.58,"endTime":497.43,"body":"done this, first part of me"},{"speaker":"Nick Lincoln","startTime":494.58,"endTime":497.43,"body":"thought initially thought, you"},{"speaker":"Nick Lincoln","startTime":497.43,"endTime":499.98,"body":"know, classic Lincoln reaction,"},{"speaker":"Nick Lincoln","startTime":497.43,"endTime":499.98,"body":"cheeky buggers, but you know,"},{"speaker":"Nick Lincoln","startTime":501.06,"endTime":503.75,"body":"then the next 10 seconds, once"},{"speaker":"Nick Lincoln","startTime":501.06,"endTime":503.75,"body":"they talk me through the process"},{"speaker":"Nick Lincoln","startTime":503.75,"endTime":505.55,"body":"of what they deal with, Clause,"},{"speaker":"Nick Lincoln","startTime":503.75,"endTime":505.55,"body":"they go, \"Oh, shit, I hope it"},{"speaker":"Nick Lincoln","startTime":505.55,"endTime":508.13,"body":"came out okay. Anyway, I came,"},{"speaker":"Nick Lincoln","startTime":505.55,"endTime":508.13,"body":"the Claw gave me a glowing"},{"speaker":"Nick Lincoln","startTime":508.25,"endTime":514.76,"body":"review. So, thank you, AI bot. I"},{"speaker":"Nick Lincoln","startTime":508.25,"endTime":514.76,"body":"passed the first test, and your"},{"speaker":"Nick Lincoln","startTime":514.79,"endTime":517.61,"body":"advisor's advice totally lines"},{"speaker":"Nick Lincoln","startTime":514.79,"endTime":517.61,"body":"up with your aspirations and"},{"speaker":"Nick Lincoln","startTime":517.61,"endTime":520.94,"body":"your portfolios, the emergency"},{"speaker":"Nick Lincoln","startTime":517.61,"endTime":520.94,"body":"buckets he's got there. That"},{"speaker":"Nick Lincoln","startTime":521.0,"endTime":524.41,"body":"makes total sense. Understand"},{"speaker":"Nick Lincoln","startTime":521.0,"endTime":524.41,"body":"that. So, that was great, but"},{"speaker":"Nick Lincoln","startTime":524.44,"endTime":528.64,"body":"the point of this is expect more"},{"speaker":"Nick Lincoln","startTime":524.44,"endTime":528.64,"body":"and more of this. Yeah, expect"},{"speaker":"Nick Lincoln","startTime":528.7,"endTime":529.84,"body":"clients now to be vetting"},{"speaker":"Andy Hart","startTime":529.99,"endTime":531.31,"body":"every single day."},{"speaker":"Andy Hart","startTime":529.99,"endTime":531.31,"body":"Clients are doing"},{"speaker":"Nick Lincoln","startTime":531.58,"endTime":534.31,"body":"it, yeah, doing it"},{"speaker":"Nick Lincoln","startTime":531.58,"endTime":534.31,"body":"all the time, ready for it. And"},{"speaker":"Nick Lincoln","startTime":534.31,"endTime":536.59,"body":"again, I think it's a good"},{"speaker":"Nick Lincoln","startTime":534.31,"endTime":536.59,"body":"thing. I think it's a good as"},{"speaker":"Nick Lincoln","startTime":536.62,"endTime":539.95,"body":"long as the AI is up to it, and"},{"speaker":"Nick Lincoln","startTime":536.62,"endTime":539.95,"body":"I think it's pretty much getting"},{"speaker":"Nick Lincoln","startTime":540.01,"endTime":543.63,"body":"there, because it's going to"},{"speaker":"Nick Lincoln","startTime":540.01,"endTime":543.63,"body":"weed out bad practice, I think,"},{"speaker":"Nick Lincoln","startTime":544.05,"endTime":546.3,"body":"and again, if you're, if you're"},{"speaker":"Nick Lincoln","startTime":544.05,"endTime":546.3,"body":"paying lip service to full fat"},{"speaker":"Nick Lincoln","startTime":546.36,"endTime":549.45,"body":"financial planning, AI will"},{"speaker":"Nick Lincoln","startTime":546.36,"endTime":549.45,"body":"catch you out if you're not, if"},{"speaker":"Nick Lincoln","startTime":549.48,"endTime":551.19,"body":"you're not doing it, if you're"},{"speaker":"Nick Lincoln","startTime":549.48,"endTime":551.19,"body":"just talking about investment"},{"speaker":"Nick Lincoln","startTime":551.82,"endTime":555.63,"body":"portfolio. Yeah, yeah, yeah,"},{"speaker":"Nick Lincoln","startTime":551.82,"endTime":555.63,"body":"normal."},{"speaker":"Alan Smith","startTime":556.079,"endTime":558.089,"body":"I wonder, I mean,"},{"speaker":"Alan Smith","startTime":556.079,"endTime":558.089,"body":"what, what do you think, what's"},{"speaker":"Alan Smith","startTime":558.149,"endTime":563.659,"body":"this, the default setting to"},{"speaker":"Alan Smith","startTime":558.149,"endTime":563.659,"body":"decide, like an AI bot makes a"},{"speaker":"Alan Smith","startTime":563.719,"endTime":566.569,"body":"judgment as to whether the"},{"speaker":"Alan Smith","startTime":563.719,"endTime":566.569,"body":"advice is good or not. At what"},{"speaker":"Alan Smith","startTime":566.629,"endTime":568.789,"body":"point is it going to say this is"},{"speaker":"Alan Smith","startTime":566.629,"endTime":568.789,"body":"bad advice, or you could"},{"speaker":"Alan Smith","startTime":568.819,"endTime":573.859,"body":"improve? I mean, does it default"},{"speaker":"Alan Smith","startTime":568.819,"endTime":573.859,"body":"to index investing, for example,"},{"speaker":"Alan Smith","startTime":574.699,"endTime":578.149,"body":"which you would, you would argue"},{"speaker":"Alan Smith","startTime":574.699,"endTime":578.149,"body":"that all the evidence over"},{"speaker":"Alan Smith","startTime":578.179,"endTime":580.759,"body":"decades would say it is"},{"speaker":"Carl Widger","startTime":581.33,"endTime":583.93,"body":"evidence-based."},{"speaker":"Carl Widger","startTime":581.33,"endTime":583.93,"body":"Yeah, maybe that's.. I just"},{"speaker":"Carl Widger","startTime":583.96,"endTime":584.86,"body":"wonder why. If"},{"speaker":"Alan Smith","startTime":585.04,"endTime":587.23,"body":"you just asked open"},{"speaker":"Alan Smith","startTime":585.04,"endTime":587.23,"body":"questions and just said, 'What"},{"speaker":"Alan Smith","startTime":587.23,"endTime":591.7,"body":"is better? Is there a better way"},{"speaker":"Alan Smith","startTime":587.23,"endTime":591.7,"body":"to manage my pension fund? I"},{"speaker":"Alan Smith","startTime":591.73,"endTime":595.9,"body":"mean, interesting to see,"},{"speaker":"Alan Smith","startTime":591.73,"endTime":595.9,"body":"because I think it worked out"},{"speaker":"Alan Smith","startTime":595.96,"endTime":598.45,"body":"well in this experience, but I"},{"speaker":"Alan Smith","startTime":595.96,"endTime":598.45,"body":"can see a situation where"},{"speaker":"Alan Smith","startTime":598.48,"endTime":602.4,"body":"somebody does this and. They"},{"speaker":"Alan Smith","startTime":598.48,"endTime":602.4,"body":"say, and the Chat GPT, or"},{"speaker":"Alan Smith","startTime":602.61,"endTime":605.16,"body":"Claude, or whatever, comes back"},{"speaker":"Alan Smith","startTime":602.61,"endTime":605.16,"body":"and says, well, it could have"},{"speaker":"Alan Smith","startTime":605.16,"endTime":607.05,"body":"been enhanced, it could have"},{"speaker":"Alan Smith","startTime":605.16,"endTime":607.05,"body":"been better, you could have had,"},{"speaker":"Alan Smith","startTime":608.1,"endTime":611.28,"body":"yeah, you know, let's, I mean,"},{"speaker":"Alan Smith","startTime":608.1,"endTime":611.28,"body":"let's face it, that, for"},{"speaker":"Alan Smith","startTime":611.31,"endTime":614.31,"body":"example, these factor tilts"},{"speaker":"Alan Smith","startTime":611.31,"endTime":614.31,"body":"haven't exactly been successful"},{"speaker":"Alan Smith","startTime":614.43,"endTime":619.14,"body":"for best part of 20 years, and"},{"speaker":"Alan Smith","startTime":614.43,"endTime":619.14,"body":"so you could argue that a pure"},{"speaker":"Alan Smith","startTime":620.34,"endTime":623.0,"body":"market cap weighted index was"},{"speaker":"Alan Smith","startTime":620.34,"endTime":623.0,"body":"better, so it depends. You know"},{"speaker":"Alan Smith","startTime":623.0,"endTime":625.55,"body":"what I mean. So, depends on the"},{"speaker":"Alan Smith","startTime":623.0,"endTime":625.55,"body":"questions you ask, or the"},{"speaker":"Alan Smith","startTime":625.76,"endTime":628.85,"body":"prompts, as they say. So, your"},{"speaker":"Nick Lincoln","startTime":628.88,"endTime":630.62,"body":"hand was raised,"},{"speaker":"Nick Lincoln","startTime":628.88,"endTime":630.62,"body":"so speak."},{"speaker":"Andy Hart","startTime":631.43,"endTime":633.53,"body":"Yeah, good point. And"},{"speaker":"Andy Hart","startTime":631.43,"endTime":633.53,"body":"where will it draw the line if I"},{"speaker":"Andy Hart","startTime":633.62,"endTime":637.76,"body":"just asked it? Oh, an advisor is"},{"speaker":"Andy Hart","startTime":633.62,"endTime":637.76,"body":"charging me 6% initial fee to"},{"speaker":"Andy Hart","startTime":637.82,"endTime":640.52,"body":"invest this money. Would it"},{"speaker":"Andy Hart","startTime":637.82,"endTime":640.52,"body":"immediately flag that as well?"},{"speaker":"Andy Hart","startTime":640.64,"endTime":643.84,"body":"This seems very high. It's a bit"},{"speaker":"Andy Hart","startTime":640.64,"endTime":643.84,"body":"unusual. I'm just giving that as"},{"speaker":"Andy Hart","startTime":643.87,"endTime":645.7,"body":"an extreme example. I know"},{"speaker":"Andy Hart","startTime":643.87,"endTime":645.7,"body":"that's not sort of common"},{"speaker":"Andy Hart","startTime":645.73,"endTime":647.86,"body":"practice, but I've given it as"},{"speaker":"Andy Hart","startTime":645.73,"endTime":647.86,"body":"an extreme example. The other"},{"speaker":"Andy Hart","startTime":647.92,"endTime":650.26,"body":"thing with the AI, obviously, at"},{"speaker":"Andy Hart","startTime":647.92,"endTime":650.26,"body":"the moment, you know, depending"},{"speaker":"Andy Hart","startTime":650.29,"endTime":653.26,"body":"on what IA platform we use, we"},{"speaker":"Andy Hart","startTime":650.29,"endTime":653.26,"body":"can't put any personal client"},{"speaker":"Andy Hart","startTime":653.38,"endTime":656.05,"body":"data in, so we can't just do"},{"speaker":"Andy Hart","startTime":653.38,"endTime":656.05,"body":"what that client didn't throw"},{"speaker":"Andy Hart","startTime":656.17,"endTime":659.92,"body":"all that stuff into, let's say,"},{"speaker":"Andy Hart","startTime":656.17,"endTime":659.92,"body":"Claude. But the clients can, as"},{"speaker":"Andy Hart","startTime":660.01,"endTime":662.31,"body":"in, next issue that information"},{"speaker":"Andy Hart","startTime":660.01,"endTime":662.31,"body":"to them, and then they've just"},{"speaker":"Andy Hart","startTime":662.37,"endTime":667.89,"body":"dumped it onto a, you know, AI"},{"speaker":"Andy Hart","startTime":662.37,"endTime":667.89,"body":"platform of their choosing, and"},{"speaker":"Andy Hart","startTime":667.92,"endTime":670.2,"body":"it's also going to play into the"},{"speaker":"Andy Hart","startTime":667.92,"endTime":670.2,"body":"hands of the AI. The AI system"},{"speaker":"Andy Hart","startTime":670.2,"endTime":671.82,"body":"is going to get smarter and"},{"speaker":"Andy Hart","startTime":670.2,"endTime":671.82,"body":"smarter now. They're going to"},{"speaker":"Andy Hart","startTime":671.85,"endTime":675.54,"body":"look at 1000s of financial plans"},{"speaker":"Andy Hart","startTime":671.85,"endTime":675.54,"body":"every single year, and they're"},{"speaker":"Andy Hart","startTime":675.57,"endTime":678.69,"body":"going to become smarter at"},{"speaker":"Andy Hart","startTime":675.57,"endTime":678.69,"body":"recognizing, you know, what,"},{"speaker":"Andy Hart","startTime":678.93,"endTime":683.84,"body":"what, what good looks like. It"},{"speaker":"Andy Hart","startTime":678.93,"endTime":683.84,"body":"generally does default to the"},{"speaker":"Andy Hart","startTime":684.14,"endTime":686.63,"body":"evidence when it comes to"},{"speaker":"Andy Hart","startTime":684.14,"endTime":686.63,"body":"investing. I ask it frequently,"},{"speaker":"Andy Hart","startTime":686.84,"endTime":688.91,"body":"just tell me the one fund I need"},{"speaker":"Andy Hart","startTime":686.84,"endTime":688.91,"body":"to invest in for the rest of my"},{"speaker":"Andy Hart","startTime":689.24,"endTime":692.48,"body":"life, and it often throws up all"},{"speaker":"Andy Hart","startTime":689.24,"endTime":692.48,"body":"of the famous ranges that we"},{"speaker":"Andy Hart","startTime":692.6,"endTime":695.45,"body":"know. But yeah, AI, I think,"},{"speaker":"Andy Hart","startTime":692.6,"endTime":695.45,"body":"will play into the hands of good"},{"speaker":"Andy Hart","startTime":695.51,"endTime":697.34,"body":"financial advisors. It will say"},{"speaker":"Andy Hart","startTime":695.51,"endTime":697.34,"body":"it needs to be financial"},{"speaker":"Andy Hart","startTime":697.4,"endTime":699.23,"body":"planning led, it needs to be"},{"speaker":"Andy Hart","startTime":697.4,"endTime":699.23,"body":"funded with the correct"},{"speaker":"Andy Hart","startTime":699.26,"endTime":701.98,"body":"investment portfolios, and your"},{"speaker":"Andy Hart","startTime":699.26,"endTime":701.98,"body":"behavior is going to be very"},{"speaker":"Andy Hart","startTime":702.1,"endTime":705.28,"body":"important through through all"},{"speaker":"Andy Hart","startTime":702.1,"endTime":705.28,"body":"that cycle, so yeah, it's"},{"speaker":"Andy Hart","startTime":705.31,"endTime":706.15,"body":"happening every single day."},{"speaker":"Alan Smith","startTime":706.51,"endTime":709.9,"body":"So, if that, if, if"},{"speaker":"Alan Smith","startTime":706.51,"endTime":709.9,"body":"what you say just there is"},{"speaker":"Alan Smith","startTime":710.08,"endTime":713.14,"body":"correct, how is that going to"},{"speaker":"Alan Smith","startTime":710.08,"endTime":713.14,"body":"impact the other clients of,"},{"speaker":"Alan Smith","startTime":713.2,"endTime":718.96,"body":"let's say, without naming names,"},{"speaker":"Alan Smith","startTime":713.2,"endTime":718.96,"body":"SJP, if the big discretionary"},{"speaker":"Alan Smith","startTime":719.02,"endTime":721.29,"body":"managers that we know from"},{"speaker":"Alan Smith","startTime":719.02,"endTime":721.29,"body":"previous conversations on this"},{"speaker":"Alan Smith","startTime":721.35,"endTime":725.19,"body":"podcast, they're charging two"},{"speaker":"Alan Smith","startTime":721.35,"endTime":725.19,"body":"and 3% a year. Is that going to"},{"speaker":"Alan Smith","startTime":725.19,"endTime":728.28,"body":"come back with big red alert?"},{"speaker":"Alan Smith","startTime":725.19,"endTime":728.28,"body":"You're paying way too much. This"},{"speaker":"Alan Smith","startTime":728.31,"endTime":729.15,"body":"is suboptimal. It"},{"speaker":"Andy Hart","startTime":729.27,"endTime":731.91,"body":"may be. Yeah, I have"},{"speaker":"Andy Hart","startTime":729.27,"endTime":731.91,"body":"actually heard that from people"},{"speaker":"Andy Hart","startTime":732.12,"endTime":734.76,"body":"in some of the organizations,"},{"speaker":"Andy Hart","startTime":732.12,"endTime":734.76,"body":"organizations that you said, and"},{"speaker":"Andy Hart","startTime":734.76,"endTime":736.68,"body":"the initial stages it has"},{"speaker":"Andy Hart","startTime":734.76,"endTime":736.68,"body":"flagged things, and then the"},{"speaker":"Andy Hart","startTime":736.68,"endTime":740.64,"body":"client's been a bit reticent to"},{"speaker":"Andy Hart","startTime":736.68,"endTime":740.64,"body":"move forward again. Interesting"},{"speaker":"Andy Hart","startTime":741.42,"endTime":744.53,"body":"conversations to have, so yeah,"},{"speaker":"Andy Hart","startTime":741.42,"endTime":744.53,"body":"there'll be there'll be"},{"speaker":"Andy Hart","startTime":744.62,"endTime":746.72,"body":"unintended consequences,"},{"speaker":"Andy Hart","startTime":744.62,"endTime":746.72,"body":"outcomes of it, and you know,"},{"speaker":"Andy Hart","startTime":747.02,"endTime":749.45,"body":"second order effects. We don't"},{"speaker":"Andy Hart","startTime":747.02,"endTime":749.45,"body":"know, but assume all of your"},{"speaker":"Andy Hart","startTime":749.48,"endTime":751.43,"body":"clients are throwing all this"},{"speaker":"Andy Hart","startTime":749.48,"endTime":751.43,"body":"stuff in AI, even if they don't"},{"speaker":"Andy Hart","startTime":751.46,"endTime":755.39,"body":"tell you, just as the default"},{"speaker":"Andy Hart","startTime":751.46,"endTime":755.39,"body":"position to take."},{"speaker":"Nick Lincoln","startTime":756.32,"endTime":759.56,"body":"Yeah, yeah, I"},{"speaker":"Nick Lincoln","startTime":756.32,"endTime":759.56,"body":"totally agree. Okay, yeah, nice"},{"speaker":"Nick Lincoln","startTime":759.77,"endTime":762.16,"body":"touch there, Carl. Thank you for"},{"speaker":"Nick Lincoln","startTime":759.77,"endTime":762.16,"body":"bumping up the list, and"},{"speaker":"Nick Lincoln","startTime":762.79,"endTime":765.4,"body":"sticking with you, actually,"},{"speaker":"Nick Lincoln","startTime":762.79,"endTime":765.4,"body":"what you've got some good news"},{"speaker":"Nick Lincoln","startTime":765.43,"endTime":766.0,"body":"from the MODOL."},{"speaker":"Carl Widger","startTime":766.749,"endTime":769.809,"body":"Yeah, well, two"},{"speaker":"Carl Widger","startTime":766.749,"endTime":769.809,"body":"things to say: we should replace"},{"speaker":"Carl Widger","startTime":769.929,"endTime":773.649,"body":"PRSA Corner with Revolut Corner,"},{"speaker":"Carl Widger","startTime":769.929,"endTime":773.649,"body":"because this is another Revolut"},{"speaker":"Carl Widger","startTime":773.709,"endTime":777.459,"body":"story, but, but I kind of"},{"speaker":"Carl Widger","startTime":773.709,"endTime":777.459,"body":"reflecting on this, like we're"},{"speaker":"Carl Widger","startTime":777.639,"endTime":781.829,"body":"at episode 100 and I think the"},{"speaker":"Carl Widger","startTime":777.639,"endTime":781.829,"body":"evolution of the financial"},{"speaker":"Carl Widger","startTime":781.889,"endTime":787.169,"body":"planning business in Ireland has"},{"speaker":"Carl Widger","startTime":781.889,"endTime":787.169,"body":"been, it's just kind of gone"},{"speaker":"Carl Widger","startTime":787.319,"endTime":789.809,"body":"with the, with the, with the"},{"speaker":"Carl Widger","startTime":787.319,"endTime":789.809,"body":"journey of Trap, and I think"},{"speaker":"Carl Widger","startTime":789.839,"endTime":791.879,"body":"we're in a, we're in a really"},{"speaker":"Carl Widger","startTime":789.839,"endTime":791.879,"body":"good place at the moment, but"},{"speaker":"Carl Widger","startTime":792.689,"endTime":795.239,"body":"yeah, Revolut came out, I'm just"},{"speaker":"Carl Widger","startTime":792.689,"endTime":795.239,"body":"going to read some stuff here,"},{"speaker":"Carl Widger","startTime":795.389,"endTime":797.939,"body":"they came out with a report"},{"speaker":"Carl Widger","startTime":795.389,"endTime":797.939,"body":"about the amount of people"},{"speaker":"Carl Widger","startTime":797.999,"endTime":800.749,"body":"investing in Ireland on their"},{"speaker":"Carl Widger","startTime":797.999,"endTime":800.749,"body":"platform, now the numbers are"},{"speaker":"Carl Widger","startTime":801.379,"endTime":805.669,"body":"relatively small, but it just"},{"speaker":"Carl Widger","startTime":801.379,"endTime":805.669,"body":"shows, I suppose, a trend, and"},{"speaker":"Carl Widger","startTime":805.699,"endTime":808.009,"body":"hopefully it'll continue to"},{"speaker":"Carl Widger","startTime":805.699,"endTime":808.009,"body":"trend in the right direction."},{"speaker":"Carl Widger","startTime":808.699,"endTime":815.389,"body":"That they increased their amount"},{"speaker":"Carl Widger","startTime":808.699,"endTime":815.389,"body":"of investors, so not savers, but"},{"speaker":"Carl Widger","startTime":815.449,"endTime":820.659,"body":"we'll did say what they're"},{"speaker":"Carl Widger","startTime":815.449,"endTime":820.659,"body":"investing in to 1.1 billion last"},{"speaker":"Carl Widger","startTime":820.689,"endTime":824.709,"body":"year to more than 348,000"},{"speaker":"Carl Widger","startTime":820.689,"endTime":824.709,"body":"people, so the amounts they're"},{"speaker":"Carl Widger","startTime":824.739,"endTime":828.249,"body":"investing are very small. Okay,"},{"speaker":"Carl Widger","startTime":824.739,"endTime":828.249,"body":"but it's, it's, they're all good"},{"speaker":"Carl Widger","startTime":828.369,"endTime":832.209,"body":"trends, shall we say. But"},{"speaker":"Carl Widger","startTime":828.369,"endTime":832.209,"body":"interestingly, the largest group"},{"speaker":"Carl Widger","startTime":832.329,"endTime":837.549,"body":"by a distance of of people"},{"speaker":"Carl Widger","startTime":832.329,"endTime":837.549,"body":"investing is the 18 to 34 year"},{"speaker":"Carl Widger","startTime":837.729,"endTime":838.689,"body":"old people."},{"speaker":"Carl Widger","startTime":839.08,"endTime":841.77,"body":"Okay, so younger people are now"},{"speaker":"Carl Widger","startTime":839.08,"endTime":841.77,"body":"beginning to, yeah, let's go,"},{"speaker":"Carl Widger","startTime":842.28,"endTime":847.02,"body":"but then the top three"},{"speaker":"Carl Widger","startTime":842.28,"endTime":847.02,"body":"investments, US equities, so and"},{"speaker":"Carl Widger","startTime":847.05,"endTime":849.63,"body":"then in the US equities that"},{"speaker":"Carl Widger","startTime":847.05,"endTime":849.63,"body":"aim, Nvidia, and a couple of"},{"speaker":"Carl Widger","startTime":849.69,"endTime":851.58,"body":"others, right? So the ones that"},{"speaker":"Carl Widger","startTime":849.69,"endTime":851.58,"body":"you'll know, right, so they're"},{"speaker":"Carl Widger","startTime":851.67,"endTime":854.91,"body":"buying direct stocks and hoping"},{"speaker":"Carl Widger","startTime":851.67,"endTime":854.91,"body":"to get rich on direct stocks."},{"speaker":"Carl Widger","startTime":855.81,"endTime":859.53,"body":"Number two is money market"},{"speaker":"Carl Widger","startTime":855.81,"endTime":859.53,"body":"funds, right? So hey, there's a"},{"speaker":"Carl Widger","startTime":859.62,"endTime":863.63,"body":"lot of room for advice still,"},{"speaker":"Carl Widger","startTime":859.62,"endTime":863.63,"body":"and then the last one, yeah, and"},{"speaker":"Carl Widger","startTime":863.69,"endTime":867.95,"body":"then the last one is ETFs, but"},{"speaker":"Carl Widger","startTime":863.69,"endTime":867.95,"body":"look, I just think generally the"},{"speaker":"Carl Widger","startTime":867.98,"endTime":874.82,"body":"trend is that Ireland is"},{"speaker":"Carl Widger","startTime":867.98,"endTime":874.82,"body":"beginning to mature, and there"},{"speaker":"Carl Widger","startTime":874.85,"endTime":878.81,"body":"is a lot more work being done,"},{"speaker":"Carl Widger","startTime":874.85,"endTime":878.81,"body":"it's in literally, I could have"},{"speaker":"Carl Widger","startTime":878.84,"endTime":881.74,"body":"picked, I don't know, 20"},{"speaker":"Carl Widger","startTime":878.84,"endTime":881.74,"body":"different articles over the last"},{"speaker":"Carl Widger","startTime":881.77,"endTime":885.49,"body":"couple of weeks about, you know,"},{"speaker":"Carl Widger","startTime":881.77,"endTime":885.49,"body":"we have this new government"},{"speaker":"Carl Widger","startTime":885.55,"endTime":889.3,"body":"savings thing coming in, and"},{"speaker":"Carl Widger","startTime":885.55,"endTime":889.3,"body":"ideas around that, and taxes on"},{"speaker":"Carl Widger","startTime":889.36,"endTime":892.09,"body":"investments, fees on"},{"speaker":"Carl Widger","startTime":889.36,"endTime":892.09,"body":"investments, whatever. The more"},{"speaker":"Carl Widger","startTime":892.18,"endTime":894.34,"body":"it's in the mainstream, the"},{"speaker":"Carl Widger","startTime":892.18,"endTime":894.34,"body":"better for everybody, because"},{"speaker":"Carl Widger","startTime":894.43,"endTime":898.24,"body":"it's it, it now is being spoken"},{"speaker":"Carl Widger","startTime":894.43,"endTime":898.24,"body":"about, and I think if we can"},{"speaker":"Carl Widger","startTime":898.36,"endTime":902.04,"body":"really keep. A hammer down on"},{"speaker":"Carl Widger","startTime":898.36,"endTime":902.04,"body":"this one. Well, then you know,"},{"speaker":"Carl Widger","startTime":902.22,"endTime":905.37,"body":"generations to come are going to"},{"speaker":"Carl Widger","startTime":902.22,"endTime":905.37,"body":"be very thankful for the work"},{"speaker":"Carl Widger","startTime":905.46,"endTime":908.46,"body":"that's been done by so many"},{"speaker":"Carl Widger","startTime":905.46,"endTime":908.46,"body":"different stakeholders. I would"},{"speaker":"Carl Widger","startTime":908.52,"endTime":912.57,"body":"say right now, so yeah, all"},{"speaker":"Carl Widger","startTime":908.52,"endTime":912.57,"body":"good. I think exciting times"},{"speaker":"Carl Widger","startTime":912.66,"endTime":917.04,"body":"ahead. And you know what, Nick,"},{"speaker":"Carl Widger","startTime":912.66,"endTime":917.04,"body":"I will segue into something else"},{"speaker":"Carl Widger","startTime":917.13,"endTime":919.8,"body":"that I was going to say, just on"},{"speaker":"Carl Widger","startTime":917.13,"endTime":919.8,"body":"that rope."},{"speaker":"Alan Smith","startTime":920.46,"endTime":922.49,"body":"Yeah, well, on that"},{"speaker":"Alan Smith","startTime":920.46,"endTime":922.49,"body":"point, there's a couple of,"},{"speaker":"Carl Widger","startTime":922.639,"endTime":924.799,"body":"there's a couple of"},{"speaker":"Carl Widger","startTime":922.639,"endTime":924.799,"body":"new entrants to the Irish"},{"speaker":"Carl Widger","startTime":924.889,"endTime":928.579,"body":"market, as exclusively revealed,"},{"speaker":"Carl Widger","startTime":924.889,"endTime":928.579,"body":"and I shouldn't have a couple of"},{"speaker":"Carl Widger","startTime":928.579,"endTime":932.629,"body":"months back when I said second"},{"speaker":"Carl Widger","startTime":928.579,"endTime":932.629,"body":"were coming to Ireland. Well,"},{"speaker":"Carl Widger","startTime":932.689,"endTime":936.109,"body":"they have now actually announced"},{"speaker":"Carl Widger","startTime":932.689,"endTime":936.109,"body":"officially that they are in"},{"speaker":"Carl Widger","startTime":936.199,"endTime":939.079,"body":"Ireland, and they are now trying"},{"speaker":"Carl Widger","startTime":936.199,"endTime":939.079,"body":"to talk to advisors, which"},{"speaker":"Carl Widger","startTime":939.709,"endTime":944.439,"body":"that's really, really brilliant,"},{"speaker":"Carl Widger","startTime":939.709,"endTime":944.439,"body":"but then very, very interesting,"},{"speaker":"Carl Widger","startTime":944.799,"endTime":952.749,"body":"and I would say yes, and best of"},{"speaker":"Carl Widger","startTime":944.799,"endTime":952.749,"body":"luck to our good pal Dave"},{"speaker":"Carl Widger","startTime":952.809,"endTime":957.729,"body":"Ferguson and his team at Second,"},{"speaker":"Carl Widger","startTime":952.809,"endTime":957.729,"body":"but I, this one was this one"},{"speaker":"Carl Widger","startTime":957.789,"endTime":963.749,"body":"was, wow, Goldman Sachs have"},{"speaker":"Carl Widger","startTime":957.789,"endTime":963.749,"body":"their kind of, I suppose, not"},{"speaker":"Carl Widger","startTime":963.869,"endTime":967.469,"body":"their top level of service is"},{"speaker":"Carl Widger","startTime":963.869,"endTime":967.469,"body":"called Marcus Bank, as you"},{"speaker":"Carl Widger","startTime":967.529,"endTime":971.519,"body":"probably know. Well, Marcus Bank"},{"speaker":"Carl Widger","startTime":967.529,"endTime":971.519,"body":"has come to Ireland. Now they're"},{"speaker":"Carl Widger","startTime":971.609,"endTime":974.579,"body":"trying to figure out exactly"},{"speaker":"Carl Widger","startTime":971.609,"endTime":974.579,"body":"what that service looks like."},{"speaker":"Carl Widger","startTime":974.639,"endTime":978.839,"body":"They're hiring a few people, but"},{"speaker":"Carl Widger","startTime":974.639,"endTime":978.839,"body":"there will be some very big"},{"speaker":"Carl Widger","startTime":979.559,"endTime":984.199,"body":"stockbroking firms shaking in"},{"speaker":"Carl Widger","startTime":979.559,"endTime":984.199,"body":"their boots right now, because"},{"speaker":"Carl Widger","startTime":985.129,"endTime":988.909,"body":"Marcus Bank coming to Ireland,"},{"speaker":"Carl Widger","startTime":985.129,"endTime":988.909,"body":"whilst it'll probably take a"},{"speaker":"Carl Widger","startTime":988.969,"endTime":992.449,"body":"while before they'll make a real"},{"speaker":"Carl Widger","startTime":988.969,"endTime":992.449,"body":"impact. They will make a real"},{"speaker":"Carl Widger","startTime":992.539,"endTime":995.389,"body":"impact, I think they're going to"},{"speaker":"Carl Widger","startTime":992.539,"endTime":995.389,"body":"begin with their, they're going"},{"speaker":"Carl Widger","startTime":995.389,"endTime":999.379,"body":"to begin their first personal"},{"speaker":"Carl Widger","startTime":995.389,"endTime":999.379,"body":"deposit rate cash, which will,"},{"speaker":"Carl Widger","startTime":999.859,"endTime":1003.809,"body":"so that'll suck money away from"},{"speaker":"Carl Widger","startTime":999.859,"endTime":1003.809,"body":"the big banks, but they won't"},{"speaker":"Carl Widger","startTime":1003.839,"endTime":1008.369,"body":"stop there. And that's a hugely,"},{"speaker":"Carl Widger","startTime":1003.839,"endTime":1008.369,"body":"hugely successful business. It's"},{"speaker":"Carl Widger","startTime":1008.429,"endTime":1015.719,"body":"more for your mass affluent mid"},{"speaker":"Carl Widger","startTime":1008.429,"endTime":1015.719,"body":"market, and that is the place"},{"speaker":"Carl Widger","startTime":1015.869,"endTime":1019.739,"body":"where a lot of us financial"},{"speaker":"Carl Widger","startTime":1015.869,"endTime":1019.739,"body":"planners play. So, financial"},{"speaker":"Carl Widger","startTime":1019.769,"endTime":1024.079,"body":"planners, beware, the"},{"speaker":"Carl Widger","startTime":1019.769,"endTime":1024.079,"body":"competition is hotting up, but"},{"speaker":"Carl Widger","startTime":1024.559,"endTime":1026.779,"body":"again, we're only getting going"},{"speaker":"Carl Widger","startTime":1024.559,"endTime":1026.779,"body":"here. I think there's loads of"},{"speaker":"Carl Widger","startTime":1026.779,"endTime":1032.149,"body":"business for everybody, and I"},{"speaker":"Carl Widger","startTime":1026.779,"endTime":1032.149,"body":"think more significant players"},{"speaker":"Carl Widger","startTime":1032.329,"endTime":1035.419,"body":"who do it right to a large"},{"speaker":"Carl Widger","startTime":1032.329,"endTime":1035.419,"body":"extent. I know you'd have your"},{"speaker":"Carl Widger","startTime":1036.289,"endTime":1039.979,"body":"thoughts on Golden Slacks, Nick,"},{"speaker":"Carl Widger","startTime":1036.289,"endTime":1039.979,"body":"but you know who are putting"},{"speaker":"Carl Widger","startTime":1040.369,"endTime":1043.209,"body":"proper financial solutions"},{"speaker":"Carl Widger","startTime":1040.369,"endTime":1043.209,"body":"towards people, I think that's"},{"speaker":"Carl Widger","startTime":1043.419,"endTime":1046.839,"body":"that can only be a good thing,"},{"speaker":"Carl Widger","startTime":1043.419,"endTime":1046.839,"body":"so, so really like if I think"},{"speaker":"Carl Widger","startTime":1046.869,"endTime":1051.729,"body":"about episode one of Trap to"},{"speaker":"Carl Widger","startTime":1046.869,"endTime":1051.729,"body":"episode 100 our evolution has"},{"speaker":"Carl Widger","startTime":1051.819,"endTime":1056.889,"body":"been actually really fast, and"},{"speaker":"Carl Widger","startTime":1051.819,"endTime":1056.889,"body":"I'm unbelievably excited about"},{"speaker":"Carl Widger","startTime":1056.889,"endTime":1058.899,"body":"it. I think we're in a really,"},{"speaker":"Carl Widger","startTime":1056.889,"endTime":1058.899,"body":"really great place."},{"speaker":"Alan Smith","startTime":1059.8,"endTime":1063.36,"body":"We'll call it the"},{"speaker":"Alan Smith","startTime":1059.8,"endTime":1063.36,"body":"track effect. Yeah, the Irish"},{"speaker":"Alan Smith","startTime":1064.02,"endTime":1066.48,"body":"finance financial community,"},{"speaker":"Alan Smith","startTime":1064.02,"endTime":1066.48,"body":"that's interesting. In the"},{"speaker":"Alan Smith","startTime":1066.6,"endTime":1068.67,"body":"Marcus thing, Andy, you would"},{"speaker":"Alan Smith","startTime":1066.6,"endTime":1068.67,"body":"know about this. I thought"},{"speaker":"Alan Smith","startTime":1068.73,"endTime":1069.39,"body":"they'd shelved"},{"speaker":"Nick Lincoln","startTime":1069.9,"endTime":1071.43,"body":"it. His hands up."},{"speaker":"Nick Lincoln","startTime":1069.9,"endTime":1071.43,"body":"Oh, sorry, I didn't see"},{"speaker":"Alan Smith","startTime":1072.12,"endTime":1074.46,"body":"it. Sorry, carry on,"},{"speaker":"Alan Smith","startTime":1072.12,"endTime":1074.46,"body":"mate. I thought they shelved"},{"speaker":"Alan Smith","startTime":1074.61,"endTime":1078.69,"body":"Marcus in the UK, anyway."},{"speaker":"Alan Smith","startTime":1074.61,"endTime":1078.69,"body":"Launched it to great fanfare a"},{"speaker":"Alan Smith","startTime":1078.81,"endTime":1083.15,"body":"few years ago. Anything about"},{"speaker":"Alan Smith","startTime":1078.81,"endTime":1083.15,"body":"action, same thing that they can"},{"speaker":"Alan Smith","startTime":1083.21,"endTime":1083.72,"body":"do, but"},{"speaker":"Andy Hart","startTime":1084.23,"endTime":1085.52,"body":"they were headline"},{"speaker":"Andy Hart","startTime":1084.23,"endTime":1085.52,"body":"rates for a while, that's what"},{"speaker":"Andy Hart","startTime":1085.52,"endTime":1088.37,"body":"they do down there, launching a"},{"speaker":"Andy Hart","startTime":1085.52,"endTime":1088.37,"body":"new territory, and they just do"},{"speaker":"Andy Hart","startTime":1088.7,"endTime":1091.19,"body":"the, you know, top, top, top"},{"speaker":"Andy Hart","startTime":1088.7,"endTime":1091.19,"body":"rate to attract all the cash,"},{"speaker":"Andy Hart","startTime":1091.28,"endTime":1093.38,"body":"then work out what to do. Sorry,"},{"speaker":"Andy Hart","startTime":1091.28,"endTime":1093.38,"body":"my question to you, Carl, was,"},{"speaker":"Andy Hart","startTime":1094.07,"endTime":1096.74,"body":"what do you think Seckels play"},{"speaker":"Andy Hart","startTime":1094.07,"endTime":1096.74,"body":"is going to be again? If you had"},{"speaker":"Andy Hart","startTime":1096.8,"endTime":1102.79,"body":"to guesstimate, you know, in the"},{"speaker":"Andy Hart","startTime":1096.8,"endTime":1102.79,"body":"UK, there are very much back-end"},{"speaker":"Andy Hart","startTime":1103.09,"endTime":1105.73,"body":"plumbing of a lot of these"},{"speaker":"Andy Hart","startTime":1103.09,"endTime":1105.73,"body":"platforms, they have a lot of"},{"speaker":"Andy Hart","startTime":1106.33,"endTime":1110.68,"body":"techie, techie tech, it's not"},{"speaker":"Andy Hart","startTime":1106.33,"endTime":1110.68,"body":"like direct to consumer, and any"},{"speaker":"Andy Hart","startTime":1110.74,"endTime":1111.91,"body":"idea what the play is going to"},{"speaker":"Andy Hart","startTime":1110.74,"endTime":1111.91,"body":"be there."},{"speaker":"Carl Widger","startTime":1112.51,"endTime":1114.94,"body":"Yeah, I would say"},{"speaker":"Carl Widger","startTime":1112.51,"endTime":1114.94,"body":"partner with some big firms"},{"speaker":"Carl Widger","startTime":1115.18,"endTime":1121.36,"body":"who've got large AOM, and then"},{"speaker":"Carl Widger","startTime":1115.18,"endTime":1121.36,"body":"also go to advisors who are, you"},{"speaker":"Carl Widger","startTime":1121.39,"endTime":1125.34,"body":"know, doing financial planning"},{"speaker":"Carl Widger","startTime":1121.39,"endTime":1125.34,"body":"using a platform that market is"},{"speaker":"Carl Widger","startTime":1125.79,"endTime":1130.95,"body":"only going to grow more and more"},{"speaker":"Carl Widger","startTime":1125.79,"endTime":1130.95,"body":"and more, so there is a huge"},{"speaker":"Carl Widger","startTime":1131.07,"endTime":1134.52,"body":"opportunity, like the platform"},{"speaker":"Carl Widger","startTime":1131.07,"endTime":1134.52,"body":"space here is very limited in"},{"speaker":"Carl Widger","startTime":1134.64,"endTime":1139.26,"body":"terms of who's operating in it"},{"speaker":"Carl Widger","startTime":1134.64,"endTime":1139.26,"body":"properly, so I think there's a"},{"speaker":"Carl Widger","startTime":1139.56,"endTime":1144.14,"body":"there is opportunity here for"},{"speaker":"Carl Widger","startTime":1139.56,"endTime":1144.14,"body":"sure European"},{"speaker":"Andy Hart","startTime":1144.17,"endTime":1146.21,"body":"play as well,"},{"speaker":"Andy Hart","startTime":1144.17,"endTime":1146.21,"body":"European is as well. It"},{"speaker":"Andy Hart","startTime":1146.21,"endTime":1146.48,"body":"definitely"},{"speaker":"Carl Widger","startTime":1146.54,"endTime":1148.91,"body":"is, and that's the"},{"speaker":"Carl Widger","startTime":1146.54,"endTime":1148.91,"body":"Marcus thing, is also European"},{"speaker":"Carl Widger","startTime":1148.94,"endTime":1152.45,"body":"play as well. So, like, but"},{"speaker":"Carl Widger","startTime":1148.94,"endTime":1152.45,"body":"that's like Interactive Brokers"},{"speaker":"Carl Widger","startTime":1152.54,"endTime":1154.97,"body":"come in and said, \"Oh, we're"},{"speaker":"Carl Widger","startTime":1152.54,"endTime":1154.97,"body":"just basing it in Dublin, and"},{"speaker":"Carl Widger","startTime":1155.0,"endTime":1157.52,"body":"we're going to go to Europe, and"},{"speaker":"Carl Widger","startTime":1155.0,"endTime":1157.52,"body":"I went, \"Here, hold on a second,"},{"speaker":"Carl Widger","startTime":1157.82,"endTime":1160.72,"body":"we were only going to hire 25"},{"speaker":"Carl Widger","startTime":1157.82,"endTime":1160.72,"body":"people here. Now they now have"},{"speaker":"Carl Widger","startTime":1160.78,"endTime":1164.38,"body":"130 people in Ireland, because"},{"speaker":"Carl Widger","startTime":1160.78,"endTime":1164.38,"body":"they're all seeing that Ireland"},{"speaker":"Carl Widger","startTime":1164.62,"endTime":1169.78,"body":"is a is a place where there is a"},{"speaker":"Carl Widger","startTime":1164.62,"endTime":1169.78,"body":"lot of cash sloshing around to"},{"speaker":"Carl Widger","startTime":1169.81,"endTime":1174.73,"body":"be put to use, but I would say"},{"speaker":"Carl Widger","startTime":1169.81,"endTime":1174.73,"body":"partnering with some big players"},{"speaker":"Carl Widger","startTime":1175.03,"endTime":1178.48,"body":"who don't have their own"},{"speaker":"Carl Widger","startTime":1175.03,"endTime":1178.48,"body":"platforms and will need their"},{"speaker":"Carl Widger","startTime":1178.57,"endTime":1183.45,"body":"own platforms is the best way to"},{"speaker":"Carl Widger","startTime":1178.57,"endTime":1183.45,"body":"make significant inroads into"},{"speaker":"Carl Widger","startTime":1183.48,"endTime":1185.43,"body":"the Irish market for the likes"},{"speaker":"Carl Widger","startTime":1183.48,"endTime":1185.43,"body":"of Settle."},{"speaker":"Andy Hart","startTime":1216.31,"endTime":1216.97,"body":"Yeah, interesting."},{"speaker":"Nick Lincoln","startTime":1217.81,"endTime":1220.03,"body":"Just to, just to"},{"speaker":"Nick Lincoln","startTime":1217.81,"endTime":1220.03,"body":"confirm that Marcus Banks still"},{"speaker":"Nick Lincoln","startTime":1220.24,"endTime":1224.26,"body":"exist in the UK, and just look"},{"speaker":"Nick Lincoln","startTime":1220.24,"endTime":1224.26,"body":"at the website, they've got 4.9%"},{"speaker":"Nick Lincoln","startTime":1225.1599999999999,"endTime":1227.29,"body":"on a 12 year fixed rate bonds,"},{"speaker":"Nick Lincoln","startTime":1225.1599999999999,"endTime":1227.29,"body":"not still high"},{"speaker":"Alan Smith","startTime":1227.59,"endTime":1234.03,"body":"rates. Yes, just"},{"speaker":"Alan Smith","startTime":1227.59,"endTime":1234.03,"body":"correcting you."},{"speaker":"Nick Lincoln","startTime":1234.81,"endTime":1235.98,"body":"Did I say 12"},{"speaker":"Nick Lincoln","startTime":1234.81,"endTime":1235.98,"body":"years? I thought, said 12"},{"speaker":"Nick Lincoln","startTime":1235.98,"endTime":1239.79,"body":"months. Okay, right. Ah, advisor"},{"speaker":"Nick Lincoln","startTime":1235.98,"endTime":1239.79,"body":"happiness. Come on, give us"},{"speaker":"Nick Lincoln","startTime":1239.82,"endTime":1240.27,"body":"some. We need"},{"speaker":"Alan Smith","startTime":1242.43,"endTime":1245.52,"body":"it. This is an"},{"speaker":"Alan Smith","startTime":1242.43,"endTime":1245.52,"body":"article I read over the weekend."},{"speaker":"Alan Smith","startTime":1245.61,"endTime":1250.02,"body":"Do you guys ever see this"},{"speaker":"Alan Smith","startTime":1245.61,"endTime":1250.02,"body":"Financial Advisor magazine was"},{"speaker":"Alan Smith","startTime":1250.05,"endTime":1253.22,"body":"the online thing, American,"},{"speaker":"Alan Smith","startTime":1250.05,"endTime":1253.22,"body":"obviously, financial advisor had"},{"speaker":"Alan Smith","startTime":1253.37,"endTime":1253.8799999999999,"body":"the US"},{"speaker":"Andy Hart","startTime":1254.51,"endTime":1256.04,"body":"randomly. It's"},{"speaker":"Andy Hart","startTime":1254.51,"endTime":1256.04,"body":"usually"},{"speaker":"Alan Smith","startTime":1256.07,"endTime":1258.62,"body":"got some quite good"},{"speaker":"Alan Smith","startTime":1256.07,"endTime":1258.62,"body":"and interesting articles, but"},{"speaker":"Alan Smith","startTime":1258.6499999999999,"endTime":1263.84,"body":"this one was a take. They took"},{"speaker":"Alan Smith","startTime":1258.6499999999999,"endTime":1263.84,"body":"it from Michael Kitsis, and his,"},{"speaker":"Alan Smith","startTime":1263.84,"endTime":1269.21,"body":"he's done again another deep"},{"speaker":"Alan Smith","startTime":1263.84,"endTime":1269.21,"body":"dive, massive survey on the"},{"speaker":"Alan Smith","startTime":1269.21,"endTime":1272.17,"body":"subject of advisor happiness,"},{"speaker":"Alan Smith","startTime":1269.21,"endTime":1272.17,"body":"and it caught my eye, because,"},{"speaker":"Alan Smith","startTime":1272.26,"endTime":1278.05,"body":"because it kind of reflected the"},{"speaker":"Alan Smith","startTime":1272.26,"endTime":1278.05,"body":"now legendary trap survey that"},{"speaker":"Alan Smith","startTime":1278.08,"endTime":1282.01,"body":"we did a couple of months ago,"},{"speaker":"Alan Smith","startTime":1278.08,"endTime":1282.01,"body":"and it just looked, it looked at"},{"speaker":"Alan Smith","startTime":1282.46,"endTime":1285.37,"body":"the levels of happiness amongst"},{"speaker":"Alan Smith","startTime":1282.46,"endTime":1285.37,"body":"advisors, and what were the key"},{"speaker":"Alan Smith","startTime":1286.18,"endTime":1288.25,"body":"traits, and I thought it was"},{"speaker":"Alan Smith","startTime":1286.18,"endTime":1288.25,"body":"quite interesting, because from"},{"speaker":"Alan Smith","startTime":1289.0,"endTime":1291.87,"body":"memory, and I put a link to it"},{"speaker":"Alan Smith","startTime":1289.0,"endTime":1291.87,"body":"in the show notes, there's this,"},{"speaker":"Alan Smith","startTime":1292.11,"endTime":1295.11,"body":"there was three interesting"},{"speaker":"Alan Smith","startTime":1292.11,"endTime":1295.11,"body":"aspects of it. Number one was"},{"speaker":"Alan Smith","startTime":1295.35,"endTime":1299.49,"body":"the number of client households"},{"speaker":"Alan Smith","startTime":1295.35,"endTime":1299.49,"body":"or families that you look after."},{"speaker":"Alan Smith","startTime":1300.3899999999999,"endTime":1304.74,"body":"The sweet spot, they say, is"},{"speaker":"Alan Smith","startTime":1300.3899999999999,"endTime":1304.74,"body":"between 40 and 100 and I thought"},{"speaker":"Alan Smith","startTime":1304.77,"endTime":1307.23,"body":"that's quite interesting, with"},{"speaker":"Alan Smith","startTime":1304.77,"endTime":1307.23,"body":"it again, all this talk about"},{"speaker":"Alan Smith","startTime":1307.44,"endTime":1312.68,"body":"AI, people talking about, or we"},{"speaker":"Alan Smith","startTime":1307.44,"endTime":1312.68,"body":"could have 200 300 clients now"},{"speaker":"Alan Smith","startTime":1313.1599999999999,"endTime":1315.8,"body":"in the future with AI, but at"},{"speaker":"Alan Smith","startTime":1313.1599999999999,"endTime":1315.8,"body":"the moment, anyway, maybe that"},{"speaker":"Alan Smith","startTime":1315.83,"endTime":1319.85,"body":"gets, maybe that will improve if"},{"speaker":"Alan Smith","startTime":1315.83,"endTime":1319.85,"body":"the kind of client-facing time"},{"speaker":"Alan Smith","startTime":1319.9099999999999,"endTime":1323.81,"body":"increases and the admin burden"},{"speaker":"Alan Smith","startTime":1319.9099999999999,"endTime":1323.81,"body":"becomes less, but there does"},{"speaker":"Alan Smith","startTime":1323.87,"endTime":1326.3899999999999,"body":"appear to be a sweet spot in"},{"speaker":"Alan Smith","startTime":1323.87,"endTime":1326.3899999999999,"body":"terms of number of client"},{"speaker":"Alan Smith","startTime":1326.42,"endTime":1329.42,"body":"households you look after."},{"speaker":"Alan Smith","startTime":1326.42,"endTime":1329.42,"body":"Secondly, again, I thought"},{"speaker":"Alan Smith","startTime":1329.51,"endTime":1332.47,"body":"interesting because people try"},{"speaker":"Alan Smith","startTime":1329.51,"endTime":1332.47,"body":"different methods of this"},{"speaker":"Alan Smith","startTime":1333.22,"endTime":1336.01,"body":"effectively, and translating it"},{"speaker":"Alan Smith","startTime":1333.22,"endTime":1336.01,"body":"from the American effectively,"},{"speaker":"Alan Smith","startTime":1336.1299999999999,"endTime":1339.04,"body":"where you've got where you"},{"speaker":"Alan Smith","startTime":1336.1299999999999,"endTime":1339.04,"body":"operate on a kind of pod system,"},{"speaker":"Alan Smith","startTime":1339.22,"endTime":1341.86,"body":"and you've got an advisor with"},{"speaker":"Alan Smith","startTime":1339.22,"endTime":1341.86,"body":"immediate support to support him"},{"speaker":"Alan Smith","startTime":1342.01,"endTime":1346.48,"body":"or him or her, versus"},{"speaker":"Alan Smith","startTime":1342.01,"endTime":1346.48,"body":"centralized, because I've spoken"},{"speaker":"Alan Smith","startTime":1346.54,"endTime":1349.06,"body":"to quite a few people, and they"},{"speaker":"Alan Smith","startTime":1346.54,"endTime":1349.06,"body":"are moving their firms to"},{"speaker":"Alan Smith","startTime":1349.21,"endTime":1353.04,"body":"centralized admin, and certainly"},{"speaker":"Alan Smith","startTime":1349.21,"endTime":1353.04,"body":"the big players, as I understand"},{"speaker":"Alan Smith","startTime":1353.58,"endTime":1356.1299999999999,"body":"it, as people have told me in"},{"speaker":"Alan Smith","startTime":1353.58,"endTime":1356.1299999999999,"body":"the past, is all centralized, so"},{"speaker":"Alan Smith","startTime":1356.19,"endTime":1360.45,"body":"you sort of throw your work into"},{"speaker":"Alan Smith","startTime":1356.19,"endTime":1360.45,"body":"some centralized work pool, so"},{"speaker":"Alan Smith","startTime":1360.54,"endTime":1364.4099999999999,"body":"they are the people with that"},{"speaker":"Alan Smith","startTime":1360.54,"endTime":1364.4099999999999,"body":"system, are much less happy than"},{"speaker":"Alan Smith","startTime":1364.47,"endTime":1368.58,"body":"those with sort of a pod, a para"},{"speaker":"Alan Smith","startTime":1364.47,"endTime":1368.58,"body":"planner, an associate support"},{"speaker":"Alan Smith","startTime":1368.6399999999999,"endTime":1372.68,"body":"person, yeah, makes sense, and"},{"speaker":"Alan Smith","startTime":1368.6399999999999,"endTime":1372.68,"body":"the final thing, which again it"},{"speaker":"Alan Smith","startTime":1372.68,"endTime":1376.43,"body":"just reflected exactly what we"},{"speaker":"Alan Smith","startTime":1372.68,"endTime":1376.43,"body":"saw on that survey that we did,"},{"speaker":"Alan Smith","startTime":1377.18,"endTime":1381.4099999999999,"body":"was those with external"},{"speaker":"Alan Smith","startTime":1377.18,"endTime":1381.4099999999999,"body":"ownership, specifically"},{"speaker":"Alan Smith","startTime":1381.83,"endTime":1385.28,"body":"according to this report they"},{"speaker":"Alan Smith","startTime":1381.83,"endTime":1385.28,"body":"did, private equity are"},{"speaker":"Alan Smith","startTime":1385.3999999999999,"endTime":1388.79,"body":"significantly less happy in the"},{"speaker":"Alan Smith","startTime":1385.3999999999999,"endTime":1388.79,"body":"day to day sort of quality of"},{"speaker":"Alan Smith","startTime":1388.85,"endTime":1391.78,"body":"life and how they enjoy their"},{"speaker":"Alan Smith","startTime":1388.85,"endTime":1391.78,"body":"work, they're considerably by"},{"speaker":"Alan Smith","startTime":1392.47,"endTime":1395.71,"body":"quite some margin less happy,"},{"speaker":"Alan Smith","startTime":1392.47,"endTime":1395.71,"body":"which again was reflected in"},{"speaker":"Alan Smith","startTime":1395.77,"endTime":1400.24,"body":"that, so I mean the optimum it"},{"speaker":"Alan Smith","startTime":1395.77,"endTime":1400.24,"body":"would seem if happiness, and"},{"speaker":"Alan Smith","startTime":1400.33,"endTime":1402.31,"body":"they would just say, you know,"},{"speaker":"Alan Smith","startTime":1400.33,"endTime":1402.31,"body":"adviser happiness, that's a kind"},{"speaker":"Alan Smith","startTime":1402.34,"endTime":1406.33,"body":"of ephemeral thing, it's what"},{"speaker":"Alan Smith","startTime":1402.34,"endTime":1406.33,"body":"does it mean, but certainly if"},{"speaker":"Alan Smith","startTime":1406.42,"endTime":1415.74,"body":"advisors, in particular, are"},{"speaker":"Alan Smith","startTime":1406.42,"endTime":1415.74,"body":"less happy, Kumbaya, my lord"},{"speaker":"Alan Smith","startTime":1418.11,"endTime":1422.31,"body":"perfect, but it does, it does"},{"speaker":"Alan Smith","startTime":1418.11,"endTime":1422.31,"body":"make a commercial point that if"},{"speaker":"Alan Smith","startTime":1422.34,"endTime":1425.76,"body":"advisors are less happy, you're"},{"speaker":"Alan Smith","startTime":1422.34,"endTime":1425.76,"body":"going to get more turnover, and"},{"speaker":"Alan Smith","startTime":1425.76,"endTime":1428.9099999999999,"body":"therefore you're going to spend"},{"speaker":"Alan Smith","startTime":1425.76,"endTime":1428.9099999999999,"body":"a lot more of your resources on"},{"speaker":"Alan Smith","startTime":1429.12,"endTime":1431.6599999999999,"body":"recruitment and trying to hire"},{"speaker":"Alan Smith","startTime":1429.12,"endTime":1431.6599999999999,"body":"people and train people up into"},{"speaker":"Alan Smith","startTime":1431.69,"endTime":1434.69,"body":"a new business, so if you're"},{"speaker":"Alan Smith","startTime":1431.69,"endTime":1434.69,"body":"trying to keep a stable team of,"},{"speaker":"Alan Smith","startTime":1434.8999999999999,"endTime":1439.22,"body":"then it seems like having"},{"speaker":"Alan Smith","startTime":1434.8999999999999,"endTime":1439.22,"body":"autonomy, having control, having"},{"speaker":"Alan Smith","startTime":1439.25,"endTime":1443.3,"body":"a support system, having not too"},{"speaker":"Alan Smith","startTime":1439.25,"endTime":1443.3,"body":"many families and households to"},{"speaker":"Alan Smith","startTime":1443.3899999999999,"endTime":1448.01,"body":"look after, and an external"},{"speaker":"Alan Smith","startTime":1443.3899999999999,"endTime":1448.01,"body":"ownership can be an issue for"},{"speaker":"Alan Smith","startTime":1448.1,"endTime":1448.28,"body":"some."},{"speaker":"Andy Hart","startTime":1448.97,"endTime":1451.69,"body":"It also mentions"},{"speaker":"Andy Hart","startTime":1448.97,"endTime":1451.69,"body":"profitability matters more than"},{"speaker":"Andy Hart","startTime":1451.75,"endTime":1455.11,"body":"efficiency. Delegation beats"},{"speaker":"Andy Hart","startTime":1451.75,"endTime":1455.11,"body":"automation. Are we looking at"},{"speaker":"Andy Hart","startTime":1455.11,"endTime":1458.3799999999999,"body":"the happiest advisor in the"},{"speaker":"Andy Hart","startTime":1455.11,"endTime":1458.3799999999999,"body":"world here, as mr. Nick Lincoln"},{"speaker":"Andy Hart","startTime":1458.44,"endTime":1464.74,"body":"on the call? See the issue to me"},{"speaker":"Andy Hart","startTime":1458.44,"endTime":1464.74,"body":"of this survey. The only thing"},{"speaker":"Andy Hart","startTime":1464.77,"endTime":1467.23,"body":"that he doesn't take is he does"},{"speaker":"Andy Hart","startTime":1464.77,"endTime":1467.23,"body":"everything himself. He hasn't"},{"speaker":"Andy Hart","startTime":1467.23,"endTime":1470.2,"body":"got a team behind him, but apart"},{"speaker":"Andy Hart","startTime":1467.23,"endTime":1470.2,"body":"from that, you are, you should"},{"speaker":"Andy Hart","startTime":1470.2,"endTime":1472.32,"body":"be the happiest advisor in the"},{"speaker":"Andy Hart","startTime":1470.2,"endTime":1472.32,"body":"world. Nick must be, you must be"},{"speaker":"Andy Hart","startTime":1472.4099999999999,"endTime":1473.28,"body":"a joy to live with."},{"speaker":"Nick Lincoln","startTime":1473.94,"endTime":1476.04,"body":"I think I am, and"},{"speaker":"Nick Lincoln","startTime":1473.94,"endTime":1476.04,"body":"I think I am on that score as"},{"speaker":"Nick Lincoln","startTime":1476.07,"endTime":1478.08,"body":"well. What, your hand is raised?"},{"speaker":"Carl Widger","startTime":1478.3799999999999,"endTime":1481.3799999999999,"body":"Yeah, I think I'm,"},{"speaker":"Carl Widger","startTime":1478.3799999999999,"endTime":1481.3799999999999,"body":"I'm, I'm well placed to discuss"},{"speaker":"Carl Widger","startTime":1481.56,"endTime":1484.47,"body":"this, because I've obviously"},{"speaker":"Carl Widger","startTime":1481.56,"endTime":1484.47,"body":"gone from one into the other,"},{"speaker":"Carl Widger","startTime":1486.36,"endTime":1493.73,"body":"and both have pros and both have"},{"speaker":"Carl Widger","startTime":1486.36,"endTime":1493.73,"body":"cons, but what I will say is 40"},{"speaker":"Carl Widger","startTime":1493.82,"endTime":1497.6299999999999,"body":"to 100 relationships is, I've"},{"speaker":"Carl Widger","startTime":1493.82,"endTime":1497.6299999999999,"body":"heard that so much, I've never"},{"speaker":"Carl Widger","startTime":1497.75,"endTime":1501.1399999999999,"body":"believed in that, I just"},{"speaker":"Carl Widger","startTime":1497.75,"endTime":1501.1399999999999,"body":"haven't. I think, like, as you"},{"speaker":"Carl Widger","startTime":1501.26,"endTime":1505.6399999999999,"body":"mature over a long period of"},{"speaker":"Carl Widger","startTime":1501.26,"endTime":1505.6399999999999,"body":"time, that might be possible,"},{"speaker":"Carl Widger","startTime":1506.1499999999999,"endTime":1510.52,"body":"but anyone trying to scale a"},{"speaker":"Carl Widger","startTime":1506.1499999999999,"endTime":1510.52,"body":"business, even if it's only to"},{"speaker":"Carl Widger","startTime":1510.58,"endTime":1513.52,"body":"scale a small business, if"},{"speaker":"Carl Widger","startTime":1510.58,"endTime":1513.52,"body":"you're looking at those numbers,"},{"speaker":"Carl Widger","startTime":1513.6399999999999,"endTime":1516.6399999999999,"body":"you're it ain't going to work,"},{"speaker":"Carl Widger","startTime":1513.6399999999999,"endTime":1516.6399999999999,"body":"I'm afraid, right? And I'm"},{"speaker":"Carl Widger","startTime":1516.7,"endTime":1519.85,"body":"talking about that from my meta"},{"speaker":"Carl Widger","startTime":1516.7,"endTime":1519.85,"body":"states, right? It needs to be"},{"speaker":"Carl Widger","startTime":1519.94,"endTime":1524.3799999999999,"body":"stronger than that, and for me,"},{"speaker":"Carl Widger","startTime":1519.94,"endTime":1524.3799999999999,"body":"150 is probably more about"},{"speaker":"Carl Widger","startTime":1524.44,"endTime":1529.0,"body":"right, and as your clients"},{"speaker":"Carl Widger","startTime":1524.44,"endTime":1529.0,"body":"become more mature and there's"},{"speaker":"Carl Widger","startTime":1529.1499999999999,"endTime":1532.68,"body":"more complexity. Yeah, sure, you"},{"speaker":"Carl Widger","startTime":1529.1499999999999,"endTime":1532.68,"body":"can. You can move that down, but"},{"speaker":"Carl Widger","startTime":1533.52,"endTime":1536.1599999999999,"body":"anybody setting out on their"},{"speaker":"Carl Widger","startTime":1533.52,"endTime":1536.1599999999999,"body":"journey thinking all I need to"},{"speaker":"Carl Widger","startTime":1536.19,"endTime":1539.55,"body":"do is get 40 clients, you'll be"},{"speaker":"Carl Widger","startTime":1536.19,"endTime":1539.55,"body":"out of business pretty quick. My"},{"speaker":"Carl Widger","startTime":1539.67,"endTime":1544.05,"body":"opinion, just that it's really"},{"speaker":"Carl Widger","startTime":1539.67,"endTime":1544.05,"body":"well made point about the pod"},{"speaker":"Carl Widger","startTime":1544.17,"endTime":1546.99,"body":"system, right? And having"},{"speaker":"Carl Widger","startTime":1544.17,"endTime":1546.99,"body":"dedicated support, whatever, and"},{"speaker":"Carl Widger","startTime":1546.99,"endTime":1551.12,"body":"I can tell you for absolute"},{"speaker":"Carl Widger","startTime":1546.99,"endTime":1551.12,"body":"sure, for absolute positivity,"},{"speaker":"Carl Widger","startTime":1551.27,"endTime":1556.1,"body":"you can't do that at a bigger"},{"speaker":"Carl Widger","startTime":1551.27,"endTime":1556.1,"body":"level, because it, there has to"},{"speaker":"Carl Widger","startTime":1556.1299999999999,"endTime":1561.05,"body":"be centralized systems and"},{"speaker":"Carl Widger","startTime":1556.1299999999999,"endTime":1561.05,"body":"processes, and when you get into"},{"speaker":"Carl Widger","startTime":1561.1399999999999,"endTime":1565.1599999999999,"body":"the bigger organizations, the"},{"speaker":"Carl Widger","startTime":1561.1399999999999,"endTime":1565.1599999999999,"body":"bigger firms, you know, having"},{"speaker":"Carl Widger","startTime":1565.25,"endTime":1568.8799999999999,"body":"autonomy is a huge risk for the"},{"speaker":"Carl Widger","startTime":1565.25,"endTime":1568.8799999999999,"body":"business, so you're just that"},{"speaker":"Carl Widger","startTime":1568.9099999999999,"endTime":1572.2,"body":"they're the things that you give"},{"speaker":"Carl Widger","startTime":1568.9099999999999,"endTime":1572.2,"body":"up, but you get lots of other"},{"speaker":"Carl Widger","startTime":1572.29,"endTime":1575.6499999999999,"body":"things, you know, so there are"},{"speaker":"Carl Widger","startTime":1572.29,"endTime":1575.6499999999999,"body":"lots of other positives, but you"},{"speaker":"Carl Widger","startTime":1575.68,"endTime":1580.09,"body":"know it. Working in a small"},{"speaker":"Carl Widger","startTime":1575.68,"endTime":1580.09,"body":"business, and maybe one that"},{"speaker":"Carl Widger","startTime":1580.12,"endTime":1584.23,"body":"you've set up yourself, is just"},{"speaker":"Carl Widger","startTime":1580.12,"endTime":1584.23,"body":"much, much different. And if"},{"speaker":"Carl Widger","startTime":1584.32,"endTime":1587.86,"body":"that's what you value the most"},{"speaker":"Carl Widger","startTime":1584.32,"endTime":1587.86,"body":"in Nick's case, well, then"},{"speaker":"Carl Widger","startTime":1588.43,"endTime":1593.1299999999999,"body":"that's where you should stay,"},{"speaker":"Carl Widger","startTime":1588.43,"endTime":1593.1299999999999,"body":"but, but look to think that"},{"speaker":"Carl Widger","startTime":1593.19,"endTime":1595.68,"body":"things are going to stay the"},{"speaker":"Carl Widger","startTime":1593.19,"endTime":1595.68,"body":"same when you're in a bigger"},{"speaker":"Carl Widger","startTime":1595.86,"endTime":1598.47,"body":"organization, it just can't"},{"speaker":"Carl Widger","startTime":1595.86,"endTime":1598.47,"body":"happen like that, you know, and"},{"speaker":"Carl Widger","startTime":1598.5,"endTime":1601.2,"body":"you got to, you got to either"},{"speaker":"Carl Widger","startTime":1598.5,"endTime":1601.2,"body":"embrace the change, but I think"},{"speaker":"Carl Widger","startTime":1601.56,"endTime":1606.21,"body":"the whole point of the report"},{"speaker":"Carl Widger","startTime":1601.56,"endTime":1606.21,"body":"here, Alan, is is is really"},{"speaker":"Carl Widger","startTime":1606.3,"endTime":1611.81,"body":"valuable, that advisor happiness"},{"speaker":"Carl Widger","startTime":1606.3,"endTime":1611.81,"body":"is is something that you should"},{"speaker":"Carl Widger","startTime":1612.74,"endTime":1617.8999999999999,"body":"be very focused on, because a"},{"speaker":"Carl Widger","startTime":1612.74,"endTime":1617.8999999999999,"body":"happy team is just a much better"},{"speaker":"Carl Widger","startTime":1617.99,"endTime":1620.6599999999999,"body":"environment to every for"},{"speaker":"Carl Widger","startTime":1617.99,"endTime":1620.6599999999999,"body":"everyone to work on, never mind"},{"speaker":"Carl Widger","startTime":1621.08,"endTime":1625.82,"body":"the turnover of people or"},{"speaker":"Carl Widger","startTime":1621.08,"endTime":1625.82,"body":"whatever, but if the work we do"},{"speaker":"Carl Widger","startTime":1626.06,"endTime":1629.8999999999999,"body":"has such a deep impact on the"},{"speaker":"Carl Widger","startTime":1626.06,"endTime":1629.8999999999999,"body":"families that we that we work"},{"speaker":"Carl Widger","startTime":1630.02,"endTime":1634.6,"body":"for, that if then you know"},{"speaker":"Carl Widger","startTime":1630.02,"endTime":1634.6,"body":"behind the scenes you're not"},{"speaker":"Carl Widger","startTime":1634.6299999999999,"endTime":1636.9099999999999,"body":"having a good time, you're not"},{"speaker":"Carl Widger","startTime":1634.6299999999999,"endTime":1636.9099999999999,"body":"enjoying it, it's all a bit of a"},{"speaker":"Carl Widger","startTime":1637.03,"endTime":1640.69,"body":"pain in the ass, and I feel like"},{"speaker":"Carl Widger","startTime":1637.03,"endTime":1640.69,"body":"I'm totally restricted. That"},{"speaker":"Carl Widger","startTime":1640.78,"endTime":1643.33,"body":"energy comes across into the"},{"speaker":"Carl Widger","startTime":1640.78,"endTime":1643.33,"body":"work that you do, and you won't"},{"speaker":"Carl Widger","startTime":1643.3899999999999,"endTime":1646.99,"body":"do that great work for the"},{"speaker":"Carl Widger","startTime":1643.3899999999999,"endTime":1646.99,"body":"family. So, yeah, I think I'm"},{"speaker":"Carl Widger","startTime":1647.02,"endTime":1650.79,"body":"very focused on that now. My new"},{"speaker":"Carl Widger","startTime":1647.02,"endTime":1650.79,"body":"role to make sure that we create"},{"speaker":"Carl Widger","startTime":1650.94,"endTime":1654.78,"body":"as best an environment as"},{"speaker":"Carl Widger","startTime":1650.94,"endTime":1654.78,"body":"possible, but at the same time"},{"speaker":"Carl Widger","startTime":1654.84,"endTime":1657.8999999999999,"body":"trying to say to everybody,"},{"speaker":"Carl Widger","startTime":1654.84,"endTime":1657.8999999999999,"body":"look, because of the size of"},{"speaker":"Carl Widger","startTime":1657.8999999999999,"endTime":1661.05,"body":"this thing, now there are going"},{"speaker":"Carl Widger","startTime":1657.8999999999999,"endTime":1661.05,"body":"to have to be guardrails, but I"},{"speaker":"Carl Widger","startTime":1661.17,"endTime":1665.43,"body":"haven't yet spoken to anybody"},{"speaker":"Carl Widger","startTime":1661.17,"endTime":1665.43,"body":"who doesn't think that you know"},{"speaker":"Carl Widger","startTime":1666.45,"endTime":1670.2,"body":"uniformity doesn't make huge"},{"speaker":"Carl Widger","startTime":1666.45,"endTime":1670.2,"body":"sense, there's nobody has"},{"speaker":"Carl Widger","startTime":1670.35,"endTime":1675.23,"body":"challenged that with there is,"},{"speaker":"Carl Widger","startTime":1670.35,"endTime":1675.23,"body":"if you know prospective clients"},{"speaker":"Carl Widger","startTime":1675.26,"endTime":1678.71,"body":"of ours come in and you're"},{"speaker":"Carl Widger","startTime":1675.26,"endTime":1678.71,"body":"talking to me or you're talking"},{"speaker":"Carl Widger","startTime":1678.71,"endTime":1682.04,"body":"to John, who works beside me."},{"speaker":"Carl Widger","startTime":1678.71,"endTime":1682.04,"body":"Broadly speaking, the solutions"},{"speaker":"Carl Widger","startTime":1682.1299999999999,"endTime":1684.68,"body":"have to be the same. Broadly"},{"speaker":"Carl Widger","startTime":1682.1299999999999,"endTime":1684.68,"body":"speaking, the advice has to be"},{"speaker":"Carl Widger","startTime":1730.9099999999999,"endTime":1735.53,"body":"same. I haven't met anybody who"},{"speaker":"Carl Widger","startTime":1730.9099999999999,"endTime":1735.53,"body":"doesn't agree that, yeah, that's"},{"speaker":"Carl Widger","startTime":1735.56,"endTime":1738.9399999999998,"body":"something that we have to look"},{"speaker":"Carl Widger","startTime":1735.56,"endTime":1738.9399999999998,"body":"at, but very interesting. I"},{"speaker":"Carl Widger","startTime":1739.03,"endTime":1741.9399999999998,"body":"haven't read that report yet,"},{"speaker":"Carl Widger","startTime":1739.03,"endTime":1741.9399999999998,"body":"but I will be reading that on an"},{"speaker":"Carl Widger","startTime":1742.03,"endTime":1744.04,"body":"airplane later on, for sure."},{"speaker":"Carl Widger","startTime":1742.03,"endTime":1744.04,"body":"Thank you."},{"speaker":"Alan Smith","startTime":1744.85,"endTime":1749.02,"body":"Just, just to take"},{"speaker":"Alan Smith","startTime":1744.85,"endTime":1749.02,"body":"the, the other side of that, I"},{"speaker":"Alan Smith","startTime":1749.1399999999999,"endTime":1750.3999999999999,"body":"think the Alan, you're really"},{"speaker":"Nick Lincoln","startTime":1750.4299999999998,"endTime":1752.08,"body":"struggling with"},{"speaker":"Nick Lincoln","startTime":1750.4299999999998,"endTime":1752.08,"body":"the raised hand symbols, aren't"},{"speaker":"Nick Lincoln","startTime":1752.08,"endTime":1757.4699999999998,"body":"you? But my hands up, yeah. I'll"},{"speaker":"Nick Lincoln","startTime":1752.08,"endTime":1757.4699999999998,"body":"close Nick. Oh, okay, go ahead."},{"speaker":"Nick Lincoln","startTime":1757.4699999999998,"endTime":1764.04,"body":"For God, well, just arrived."},{"speaker":"Nick Lincoln","startTime":1757.4699999999998,"endTime":1764.04,"body":"Sure, I get it. The Nick, if I"},{"speaker":"Nick Lincoln","startTime":1764.07,"endTime":1765.03,"body":"did it,"},{"speaker":"Alan Smith","startTime":1765.06,"endTime":1767.61,"body":"so I've still got"},{"speaker":"Alan Smith","startTime":1765.06,"endTime":1767.61,"body":"jet lag. Where have"},{"speaker":"Andy Hart","startTime":1767.639,"endTime":1767.9089999999999,"body":"you been?"},{"speaker":"Carl Widger","startTime":1769.53,"endTime":1771.03,"body":"You know, you, what"},{"speaker":"Carl Widger","startTime":1769.53,"endTime":1771.03,"body":"have you been"},{"speaker":"Alan Smith","startTime":1771.2399999999998,"endTime":1780.6799999999998,"body":"doing? I don't want"},{"speaker":"Alan Smith","startTime":1771.2399999999998,"endTime":1780.6799999999998,"body":"to talk about it, goes see"},{"speaker":"Nick Lincoln","startTime":1780.86,"endTime":1782.2399999999998,"body":"two goals in this"},{"speaker":"Nick Lincoln","startTime":1780.86,"endTime":1782.2399999999998,"body":"World Cup, and they were the"},{"speaker":"Nick Lincoln","startTime":1782.33,"endTime":1785.33,"body":"first two conceded by Scotland"},{"speaker":"Nick Lincoln","startTime":1782.33,"endTime":1785.33,"body":"against Brazil. The bank"},{"speaker":"Nick Lincoln","startTime":1785.4199999999998,"endTime":1787.6699999999998,"body":"accounts of the Scottish"},{"speaker":"Nick Lincoln","startTime":1785.4199999999998,"endTime":1787.6699999999998,"body":"Defense. Yeah, but anyway,"},{"speaker":"Carl Widger","startTime":1787.76,"endTime":1789.6799999999998,"body":"it doesn't matter"},{"speaker":"Carl Widger","startTime":1787.76,"endTime":1789.6799999999998,"body":"how Scotland performed on the"},{"speaker":"Carl Widger","startTime":1789.7099999999998,"endTime":1795.53,"body":"football pitch, their fans won"},{"speaker":"Carl Widger","startTime":1789.7099999999998,"endTime":1795.53,"body":"on this podcast, because that'd"},{"speaker":"Carl Widger","startTime":1795.53,"endTime":1796.82,"body":"be too indulgent."},{"speaker":"Alan Smith","startTime":1796.85,"endTime":1799.78,"body":"But oh my god,"},{"speaker":"Alan Smith","startTime":1796.85,"endTime":1799.78,"body":"Boston and Miami, where I've"},{"speaker":"Alan Smith","startTime":1799.81,"endTime":1803.9499999999998,"body":"just come back from incredible"},{"speaker":"Alan Smith","startTime":1799.81,"endTime":1803.9499999999998,"body":"experience, incredible. I wish"},{"speaker":"Alan Smith","startTime":1804.1299999999999,"endTime":1807.58,"body":"the football team did half as"},{"speaker":"Alan Smith","startTime":1804.1299999999999,"endTime":1807.58,"body":"well as the fans did, because we"},{"speaker":"Alan Smith","startTime":1807.7299999999998,"endTime":1810.6399999999999,"body":"just took over two cities."},{"speaker":"Alan Smith","startTime":1807.7299999999998,"endTime":1810.6399999999999,"body":"Wonderful. Anyway, I've"},{"speaker":"Alan Smith","startTime":1810.6699999999998,"endTime":1814.54,"body":"forgotten what I was gonna say."},{"speaker":"Alan Smith","startTime":1810.6699999999998,"endTime":1814.54,"body":"I'll"},{"speaker":"Nick Lincoln","startTime":1815.05,"endTime":1818.8799999999999,"body":"come in my post,"},{"speaker":"Nick Lincoln","startTime":1815.05,"endTime":1818.8799999999999,"body":"not really scalable if you have"},{"speaker":"Nick Lincoln","startTime":1818.8799999999999,"endTime":1821.31,"body":"that small number of clients,"},{"speaker":"Nick Lincoln","startTime":1818.8799999999999,"endTime":1821.31,"body":"but Alan, with your firm, you"},{"speaker":"Nick Lincoln","startTime":1821.31,"endTime":1824.52,"body":"know you've got a multi-ri firm,"},{"speaker":"Nick Lincoln","startTime":1821.31,"endTime":1824.52,"body":"and you've got Don and Graham"},{"speaker":"Nick Lincoln","startTime":1824.58,"endTime":1827.76,"body":"and Charles there off the top of"},{"speaker":"Nick Lincoln","startTime":1824.58,"endTime":1827.76,"body":"your head. How many client"},{"speaker":"Nick Lincoln","startTime":1827.85,"endTime":1830.82,"body":"families do they each look"},{"speaker":"Nick Lincoln","startTime":1827.85,"endTime":1830.82,"body":"after? Would you say?"},{"speaker":"Alan Smith","startTime":1830.9099999999999,"endTime":1835.1399999999999,"body":"Right, good point."},{"speaker":"Alan Smith","startTime":1830.9099999999999,"endTime":1835.1399999999999,"body":"Because one thing about me is I"},{"speaker":"Alan Smith","startTime":1835.32,"endTime":1839.54,"body":"was I was thoughtful in the"},{"speaker":"Alan Smith","startTime":1835.32,"endTime":1839.54,"body":"early days of the business, and"},{"speaker":"Alan Smith","startTime":1839.6599999999999,"endTime":1844.25,"body":"I was quite clear that I wanted"},{"speaker":"Alan Smith","startTime":1839.6599999999999,"endTime":1844.25,"body":"to be more of a kind of, I don't"},{"speaker":"Alan Smith","startTime":1844.25,"endTime":1848.1499999999999,"body":"know, a high-end vanilla"},{"speaker":"Alan Smith","startTime":1844.25,"endTime":1848.1499999999999,"body":"boutique. So, we very, so we"},{"speaker":"Alan Smith","startTime":1848.27,"endTime":1852.11,"body":"came up with the plan, it was in"},{"speaker":"Alan Smith","startTime":1848.27,"endTime":1852.11,"body":"all of us, and we've got, you"},{"speaker":"Alan Smith","startTime":1852.11,"endTime":1854.9299999999998,"body":"know, I'm not an advisor, as you"},{"speaker":"Alan Smith","startTime":1852.11,"endTime":1854.9299999999998,"body":"know, we've got five advisors,"},{"speaker":"Alan Smith","startTime":1856.1,"endTime":1860.35,"body":"chartered planners, right now,"},{"speaker":"Alan Smith","startTime":1856.1,"endTime":1860.35,"body":"and what we aim for is 75"},{"speaker":"Alan Smith","startTime":1860.8,"endTime":1865.4199999999998,"body":"clients, 75 families, households"},{"speaker":"Alan Smith","startTime":1860.8,"endTime":1865.4199999999998,"body":"per advisor. Now that gets a bit"},{"speaker":"Alan Smith","startTime":1865.6599999999999,"endTime":1868.57,"body":"out of sync from time to time. I"},{"speaker":"Alan Smith","startTime":1865.6599999999999,"endTime":1868.57,"body":"think Graham and Charles have"},{"speaker":"Alan Smith","startTime":1868.57,"endTime":1870.6999999999998,"body":"got more than I know, they've"},{"speaker":"Alan Smith","startTime":1868.57,"endTime":1870.6999999999998,"body":"got more than that, so there's a"},{"speaker":"Alan Smith","startTime":1870.7299999999998,"endTime":1875.4699999999998,"body":"bit of a transition going on to"},{"speaker":"Alan Smith","startTime":1870.7299999999998,"endTime":1875.4699999999998,"body":"hand clients across to Ollie and"},{"speaker":"Alan Smith","startTime":1875.5,"endTime":1879.6599999999999,"body":"to Hazel. Are sort of younger"},{"speaker":"Alan Smith","startTime":1875.5,"endTime":1879.6599999999999,"body":"advisors, but because you're"},{"speaker":"Alan Smith","startTime":1879.7199999999998,"endTime":1882.81,"body":"trying to, the thing here is, if"},{"speaker":"Alan Smith","startTime":1879.7199999999998,"endTime":1882.81,"body":"you, if you, then distill down"},{"speaker":"Alan Smith","startTime":1882.87,"endTime":1885.09,"body":"to the next level of the"},{"speaker":"Alan Smith","startTime":1882.87,"endTime":1885.09,"body":"calculation, it's average"},{"speaker":"Alan Smith","startTime":1885.1799999999998,"endTime":1887.37,"body":"revenue per client, and"},{"speaker":"Alan Smith","startTime":1885.1799999999998,"endTime":1887.37,"body":"therefore average profitability"},{"speaker":"Alan Smith","startTime":1887.6699999999998,"endTime":1890.7299999999998,"body":"per client, because the other"},{"speaker":"Alan Smith","startTime":1887.6699999999998,"endTime":1890.7299999999998,"body":"thing I think Andy alluded to in"},{"speaker":"Alan Smith","startTime":1890.85,"endTime":1895.83,"body":"that report is, is that a lot of"},{"speaker":"Alan Smith","startTime":1890.85,"endTime":1895.83,"body":"advisors have tried to take on"},{"speaker":"Alan Smith","startTime":1895.9199999999998,"endTime":1899.4499999999998,"body":"like lower revenue clients and"},{"speaker":"Alan Smith","startTime":1895.9199999999998,"endTime":1899.4499999999998,"body":"try to leverage technology like"},{"speaker":"Alan Smith","startTime":1899.6899999999998,"endTime":1902.33,"body":"online service and stuff, and"},{"speaker":"Alan Smith","startTime":1899.6899999999998,"endTime":1902.33,"body":"just hasn't worked, and we all"},{"speaker":"Alan Smith","startTime":1902.4199999999998,"endTime":1904.1899999999998,"body":"know that hasn't worked. A bunch"},{"speaker":"Alan Smith","startTime":1902.4199999999998,"endTime":1904.1899999999998,"body":"of people have tried it in the"},{"speaker":"Alan Smith","startTime":1904.31,"endTime":1907.61,"body":"UK, just sort of self-service"},{"speaker":"Alan Smith","startTime":1904.31,"endTime":1907.61,"body":"DIY type thing. It doesn't"},{"speaker":"Alan Smith","startTime":1907.61,"endTime":1912.11,"body":"really get much traction, so we"},{"speaker":"Alan Smith","startTime":1907.61,"endTime":1912.11,"body":"were always trying to focus on"},{"speaker":"Alan Smith","startTime":1913.6999999999998,"endTime":1917.02,"body":"relatively high averages for IFA"},{"speaker":"Alan Smith","startTime":1913.6999999999998,"endTime":1917.02,"body":"land, and I know that's easy to"},{"speaker":"Alan Smith","startTime":1917.1399999999999,"endTime":1919.3,"body":"say, because when you're"},{"speaker":"Alan Smith","startTime":1917.1399999999999,"endTime":1919.3,"body":"starting off, it's that you just"},{"speaker":"Alan Smith","startTime":1919.3,"endTime":1922.3899999999999,"body":"sort of take in the early days,"},{"speaker":"Alan Smith","startTime":1919.3,"endTime":1922.3899999999999,"body":"of course, we take anyone that"},{"speaker":"Alan Smith","startTime":1922.4199999999998,"endTime":1926.08,"body":"we can just sort of pay the"},{"speaker":"Alan Smith","startTime":1922.4199999999998,"endTime":1926.08,"body":"bills, but I think that for me"},{"speaker":"Alan Smith","startTime":1926.2299999999998,"endTime":1930.3999999999999,"body":"that's the thing, 75 families,"},{"speaker":"Alan Smith","startTime":1926.2299999999998,"endTime":1930.3999999999999,"body":"if you work out, we did a whole"},{"speaker":"Alan Smith","startTime":1930.4299999999998,"endTime":1933.01,"body":"lot of calculations about how"},{"speaker":"Alan Smith","startTime":1930.4299999999998,"endTime":1933.01,"body":"many hours are available for"},{"speaker":"Alan Smith","startTime":1933.04,"endTime":1935.29,"body":"you, and of course things are"},{"speaker":"Alan Smith","startTime":1933.04,"endTime":1935.29,"body":"changing pretty rapidly, I have"},{"speaker":"Alan Smith","startTime":1935.35,"endTime":1938.76,"body":"to say with technology, but at"},{"speaker":"Alan Smith","startTime":1935.35,"endTime":1938.76,"body":"the end of the day, what clients"},{"speaker":"Alan Smith","startTime":1938.79,"endTime":1942.2099999999998,"body":"are paying for is that face"},{"speaker":"Alan Smith","startTime":1938.79,"endTime":1942.2099999999998,"body":"time, and ideally you want more"},{"speaker":"Alan Smith","startTime":1942.2399999999998,"endTime":1945.84,"body":"of it, and so it depends on what"},{"speaker":"Alan Smith","startTime":1942.2399999999998,"endTime":1945.84,"body":"way you go, so you can, you"},{"speaker":"Alan Smith","startTime":1945.87,"endTime":1948.12,"body":"know, technology is going to"},{"speaker":"Alan Smith","startTime":1945.87,"endTime":1948.12,"body":"improve, you could move to 150"},{"speaker":"Alan Smith","startTime":1948.9299999999998,"endTime":1952.11,"body":"200 clients, but you aren't"},{"speaker":"Alan Smith","startTime":1948.9299999999998,"endTime":1952.11,"body":"going to get the depth, the same"},{"speaker":"Alan Smith","startTime":1952.1699999999998,"endTime":1954.75,"body":"level of depth, and if I, if a"},{"speaker":"Alan Smith","startTime":1952.1699999999998,"endTime":1954.75,"body":"client's paying us 20 grand a"},{"speaker":"Alan Smith","startTime":1954.87,"endTime":1958.82,"body":"year, they want that really"},{"speaker":"Alan Smith","startTime":1954.87,"endTime":1958.82,"body":"highly, super highly"},{"speaker":"Alan Smith","startTime":1958.8799999999999,"endTime":1963.02,"body":"personalized, not templated"},{"speaker":"Alan Smith","startTime":1958.8799999999999,"endTime":1963.02,"body":"cookie cutter service that, if"},{"speaker":"Alan Smith","startTime":1963.05,"endTime":1966.53,"body":"you're dealing with more than"},{"speaker":"Alan Smith","startTime":1963.05,"endTime":1966.53,"body":"mass affluent by definition"},{"speaker":"Alan Smith","startTime":1966.6499999999999,"endTime":1968.84,"body":"commercially, you have to"},{"speaker":"Alan Smith","startTime":1966.6499999999999,"endTime":1968.84,"body":"deliver. So, I just think"},{"speaker":"Alan Smith","startTime":1968.87,"endTime":1971.3,"body":"there's an important point here"},{"speaker":"Alan Smith","startTime":1968.87,"endTime":1971.3,"body":"that you have to decide what"},{"speaker":"Alan Smith","startTime":1971.33,"endTime":1974.57,"body":"sort of firm you want to be"},{"speaker":"Alan Smith","startTime":1971.33,"endTime":1974.57,"body":"early on. Are you scaled like"},{"speaker":"Alan Smith","startTime":1974.6599999999999,"endTime":1977.08,"body":"Carl's business and the new"},{"speaker":"Alan Smith","startTime":1974.6599999999999,"endTime":1977.08,"body":"empire that he's building again,"},{"speaker":"Alan Smith","startTime":1977.9499999999998,"endTime":1980.3799999999999,"body":"that's a scale business, and you"},{"speaker":"Alan Smith","startTime":1977.9499999999998,"endTime":1980.3799999999999,"body":"can't really do that. You can't"},{"speaker":"Alan Smith","startTime":1980.4099999999999,"endTime":1983.05,"body":"do that sort of boutique, highly"},{"speaker":"Alan Smith","startTime":1980.4099999999999,"endTime":1983.05,"body":"personalized. Nick is the"},{"speaker":"Alan Smith","startTime":1983.29,"endTime":1985.9899999999998,"body":"opposite end of that spectrum."},{"speaker":"Alan Smith","startTime":1983.29,"endTime":1985.9899999999998,"body":"You couldn't get more"},{"speaker":"Alan Smith","startTime":1986.11,"endTime":1989.08,"body":"personalized, but again, in our"},{"speaker":"Alan Smith","startTime":1986.11,"endTime":1989.08,"body":"firm, that's that's where the"},{"speaker":"Alan Smith","startTime":1989.1699999999998,"endTime":1993.55,"body":"number sits, on average 75 per"},{"speaker":"Alan Smith","startTime":1989.1699999999998,"endTime":1993.55,"body":"advisor. I disagree. I know that"},{"speaker":"Alan Smith","startTime":1993.58,"endTime":1996.1,"body":"you want to come in. I disagree"},{"speaker":"Alan Smith","startTime":1993.58,"endTime":1996.1,"body":"on a couple of things. So, so"},{"speaker":"Alan Smith","startTime":1996.1,"endTime":1996.1299999999999,"body":"the"},{"speaker":"Carl Widger","startTime":1996.28,"endTime":1999.87,"body":"first thing is 75"},{"speaker":"Carl Widger","startTime":1996.28,"endTime":1999.87,"body":"in is what you've fallen on now,"},{"speaker":"Carl Widger","startTime":2000.5,"endTime":2004.1,"body":"1015 years into a very mature"},{"speaker":"Carl Widger","startTime":2000.5,"endTime":2004.1,"body":"business in the center of"},{"speaker":"Carl Widger","startTime":2004.1599999999999,"endTime":2008.06,"body":"London, right? When we started"},{"speaker":"Carl Widger","startTime":2004.1599999999999,"endTime":2008.06,"body":"the business out in the"},{"speaker":"Carl Widger","startTime":2008.12,"endTime":2010.31,"body":"southwest of Ireland, in"},{"speaker":"Carl Widger","startTime":2008.12,"endTime":2010.31,"body":"Limerick, you know that was"},{"speaker":"Carl Widger","startTime":2010.37,"endTime":2012.5,"body":"never going to work, so I"},{"speaker":"Carl Widger","startTime":2010.37,"endTime":2012.5,"body":"suppose you know that the"},{"speaker":"Carl Widger","startTime":2012.83,"endTime":2017.02,"body":"geography will matter there."},{"speaker":"Carl Widger","startTime":2012.83,"endTime":2017.02,"body":"Yeah, so I think that that has"},{"speaker":"Carl Widger","startTime":2017.1399999999999,"endTime":2021.04,"body":"come down, but what I, but I"},{"speaker":"Carl Widger","startTime":2017.1399999999999,"endTime":2021.04,"body":"disagree that we can't. If we.."},{"speaker":"Carl Widger","startTime":2021.7299999999998,"endTime":2025.36,"body":"I'm very focused on the moment"},{"speaker":"Carl Widger","startTime":2021.7299999999998,"endTime":2025.36,"body":"at segmenting our business and"},{"speaker":"Carl Widger","startTime":2025.4799999999998,"endTime":2028.7199999999998,"body":"having different service levels"},{"speaker":"Carl Widger","startTime":2025.4799999999998,"endTime":2028.7199999999998,"body":"for different clients, and so"},{"speaker":"Carl Widger","startTime":2029.05,"endTime":2033.31,"body":"I'm.. I'm fully convinced. I"},{"speaker":"Carl Widger","startTime":2029.05,"endTime":2033.31,"body":"hope I'm right that we can offer"},{"speaker":"Carl Widger","startTime":2034.54,"endTime":2038.1299999999999,"body":"the, you know, the very tailored"},{"speaker":"Carl Widger","startTime":2034.54,"endTime":2038.1299999999999,"body":"service, but we have to be very"},{"speaker":"Carl Widger","startTime":2038.4899999999998,"endTime":2043.9199999999998,"body":"strict about at what level we do"},{"speaker":"Carl Widger","startTime":2038.4899999999998,"endTime":2043.9199999999998,"body":"that, right, and that there are"},{"speaker":"Carl Widger","startTime":2044.1599999999999,"endTime":2047.9099999999999,"body":"there are a couple of levels"},{"speaker":"Carl Widger","startTime":2044.1599999999999,"endTime":2047.9099999999999,"body":"before you get there, and that"},{"speaker":"Carl Widger","startTime":2048.27,"endTime":2052.71,"body":"there will be an execution only"},{"speaker":"Carl Widger","startTime":2048.27,"endTime":2052.71,"body":"model of some description,"},{"speaker":"Carl Widger","startTime":2052.77,"endTime":2055.53,"body":"because there just has to, and"},{"speaker":"Carl Widger","startTime":2052.77,"endTime":2055.53,"body":"you can't give financial"},{"speaker":"Carl Widger","startTime":2055.56,"endTime":2059.33,"body":"planning to someone who's got a"},{"speaker":"Carl Widger","startTime":2055.56,"endTime":2059.33,"body":"40 grand personal retirement"},{"speaker":"Carl Widger","startTime":2059.33,"endTime":2063.02,"body":"bond, even if they need it, you"},{"speaker":"Carl Widger","startTime":2059.33,"endTime":2063.02,"body":"can't, because we'll break the"},{"speaker":"Carl Widger","startTime":2063.11,"endTime":2066.08,"body":"business, and we won't be able"},{"speaker":"Carl Widger","startTime":2063.11,"endTime":2066.08,"body":"to serve the people at the"},{"speaker":"Carl Widger","startTime":2066.08,"endTime":2069.14,"body":"higher end and give them the"},{"speaker":"Carl Widger","startTime":2066.08,"endTime":2069.14,"body":"proper service that they need."},{"speaker":"Carl Widger","startTime":2069.98,"endTime":2073.34,"body":"Technology and AI may mean, in a"},{"speaker":"Carl Widger","startTime":2069.98,"endTime":2073.34,"body":"couple years' time, I'll change"},{"speaker":"Carl Widger","startTime":2073.43,"endTime":2076.57,"body":"my mind on that, but right now I"},{"speaker":"Carl Widger","startTime":2073.43,"endTime":2076.57,"body":"don't have the tools to be able"},{"speaker":"Carl Widger","startTime":2076.66,"endTime":2081.07,"body":"to deliver, deliver those kinds"},{"speaker":"Carl Widger","startTime":2076.66,"endTime":2081.07,"body":"of service, so I think you can"},{"speaker":"Carl Widger","startTime":2081.82,"endTime":2085.87,"body":"deliver, you know, to clients"},{"speaker":"Carl Widger","startTime":2081.82,"endTime":2085.87,"body":"where you're getting 20 grand a"},{"speaker":"Carl Widger","startTime":2085.93,"endTime":2090.19,"body":"year fees. I think you can, and"},{"speaker":"Carl Widger","startTime":2085.93,"endTime":2090.19,"body":"I, and furthermore, I think you"},{"speaker":"Carl Widger","startTime":2090.37,"endTime":2093.82,"body":"must, because if you don't,"},{"speaker":"Carl Widger","startTime":2090.37,"endTime":2093.82,"body":"someone else will, and you just"},{"speaker":"Carl Widger","startTime":2093.85,"endTime":2096.51,"body":"won't retain the clients. So I"},{"speaker":"Carl Widger","startTime":2093.85,"endTime":2096.51,"body":"think that's that's really,"},{"speaker":"Carl Widger","startTime":2096.6,"endTime":2099.48,"body":"really important, and we're,"},{"speaker":"Carl Widger","startTime":2096.6,"endTime":2099.48,"body":"we're, we're focusing on that,"},{"speaker":"Carl Widger","startTime":2099.54,"endTime":2101.34,"body":"and we're kind of giving"},{"speaker":"Carl Widger","startTime":2099.54,"endTime":2101.34,"body":"ourselves the summer to figure"},{"speaker":"Carl Widger","startTime":2101.43,"endTime":2104.49,"body":"out the segmentation, and that"},{"speaker":"Carl Widger","startTime":2101.43,"endTime":2104.49,"body":"kind of stuff, but it's, it's,"},{"speaker":"Carl Widger","startTime":2104.73,"endTime":2108.09,"body":"it's a, it's a quandary, it's"},{"speaker":"Carl Widger","startTime":2104.73,"endTime":2108.09,"body":"like I keep saying, this is like"},{"speaker":"Carl Widger","startTime":2108.12,"endTime":2111.33,"body":"the impossible jigsaw, but you"},{"speaker":"Carl Widger","startTime":2108.12,"endTime":2111.33,"body":"know what, if you keep looking"},{"speaker":"Carl Widger","startTime":2111.42,"endTime":2113.4,"body":"at the jigsaw for long enough,"},{"speaker":"Carl Widger","startTime":2111.42,"endTime":2113.4,"body":"you'll start coming up with"},{"speaker":"Carl Widger","startTime":2113.49,"endTime":2117.65,"body":"ideas, and this is, this, this"},{"speaker":"Carl Widger","startTime":2113.49,"endTime":2117.65,"body":"can be done, it's just, it's not"},{"speaker":"Carl Widger","startTime":2117.74,"endTime":2117.92,"body":"easy."},{"speaker":"Andy Hart","startTime":2118.7,"endTime":2120.38,"body":"I mean, the article"},{"speaker":"Andy Hart","startTime":2118.7,"endTime":2120.38,"body":"is very intentional. We're just"},{"speaker":"Andy Hart","startTime":2120.38,"endTime":2123.26,"body":"looking at advisor happiness,"},{"speaker":"Andy Hart","startTime":2120.38,"endTime":2123.26,"body":"not what is the best way to grow"},{"speaker":"Andy Hart","startTime":2123.29,"endTime":2126.98,"body":"a firm. How do you scale a firm?"},{"speaker":"Andy Hart","startTime":2123.29,"endTime":2126.98,"body":"How do you work with teams? What"},{"speaker":"Andy Hart","startTime":2126.98,"endTime":2130.49,"body":"is the ultimate number of"},{"speaker":"Andy Hart","startTime":2126.98,"endTime":2130.49,"body":"clients? How can you earn the"},{"speaker":"Andy Hart","startTime":2130.5499999999997,"endTime":2132.65,"body":"most amount of money? How can"},{"speaker":"Andy Hart","startTime":2130.5499999999997,"endTime":2132.65,"body":"you get the biggest exit value?"},{"speaker":"Andy Hart","startTime":2133.0099999999998,"endTime":2137.3199999999997,"body":"So they were just drilling down"},{"speaker":"Andy Hart","startTime":2133.0099999999998,"endTime":2137.3199999999997,"body":"on what they have deemed, what"},{"speaker":"Andy Hart","startTime":2137.3199999999997,"endTime":2140.77,"body":"are the various points to make"},{"speaker":"Andy Hart","startTime":2137.3199999999997,"endTime":2140.77,"body":"the happiest advisors. I believe"},{"speaker":"Andy Hart","startTime":2140.83,"endTime":2142.7799999999997,"body":"we've sort of bled out a little"},{"speaker":"Andy Hart","startTime":2140.83,"endTime":2142.7799999999997,"body":"bit here."},{"speaker":"Alan Smith","startTime":2147.88,"endTime":2149.95,"body":"I think it's quite"},{"speaker":"Alan Smith","startTime":2147.88,"endTime":2149.95,"body":"an interesting subject. So, I'll"},{"speaker":"Alan Smith","startTime":2150.04,"endTime":2153.91,"body":"come back to you, Carl, on that."},{"speaker":"Alan Smith","startTime":2150.04,"endTime":2153.91,"body":"And I 100% get it. Where you"},{"speaker":"Alan Smith","startTime":2153.97,"endTime":2158.31,"body":"coming from, segmentation and"},{"speaker":"Alan Smith","startTime":2153.97,"endTime":2158.31,"body":"you know profitability is really"},{"speaker":"Alan Smith","startTime":2158.3399999999997,"endTime":2161.7599999999998,"body":"important, and you know, I just"},{"speaker":"Alan Smith","startTime":2158.3399999999997,"endTime":2161.7599999999998,"body":"thought about that for years,"},{"speaker":"Alan Smith","startTime":2161.7599999999998,"endTime":2165.27,"body":"and it was kind of revolutionary"},{"speaker":"Alan Smith","startTime":2161.7599999999998,"endTime":2165.27,"body":"thinking a decade ago that all"},{"speaker":"Alan Smith","startTime":2165.3599999999997,"endTime":2168.99,"body":"clients need to be profitable,"},{"speaker":"Alan Smith","startTime":2165.3599999999997,"endTime":2168.99,"body":"and a lot of firms will take on"},{"speaker":"Alan Smith","startTime":2169.95,"endTime":2172.62,"body":"unprofitable clients in the hope"},{"speaker":"Alan Smith","startTime":2169.95,"endTime":2172.62,"body":"that they'll become profitable"},{"speaker":"Alan Smith","startTime":2172.71,"endTime":2174.5099999999998,"body":"in the future, and I just didn't"},{"speaker":"Alan Smith","startTime":2172.71,"endTime":2174.5099999999998,"body":"like that idea from the"},{"speaker":"Alan Smith","startTime":2174.5099999999998,"endTime":2177.02,"body":"beginning. Why, why would you do"},{"speaker":"Alan Smith","startTime":2174.5099999999998,"endTime":2177.02,"body":"that, which. You know, they"},{"speaker":"Alan Smith","startTime":2177.08,"endTime":2179.39,"body":"might win the lottery one day,"},{"speaker":"Alan Smith","startTime":2177.08,"endTime":2179.39,"body":"they might get an inheritance,"},{"speaker":"Alan Smith","startTime":2179.5099999999998,"endTime":2182.3599999999997,"body":"but come on, because subsidy,"},{"speaker":"Alan Smith","startTime":2179.5099999999998,"endTime":2182.3599999999997,"body":"yeah,"},{"speaker":"Carl Widger","startTime":2182.69,"endTime":2185.5699999999997,"body":"yeah, I have a guy"},{"speaker":"Carl Widger","startTime":2182.69,"endTime":2185.5699999999997,"body":"challenging me on exactly that,"},{"speaker":"Carl Widger","startTime":2185.7799999999997,"endTime":2188.93,"body":"like right now, yeah, but so"},{"speaker":"Carl Widger","startTime":2185.7799999999997,"endTime":2188.93,"body":"there might be a real"},{"speaker":"Alan Smith","startTime":2189.02,"endTime":2191.33,"body":"life experience for"},{"speaker":"Alan Smith","startTime":2189.02,"endTime":2191.33,"body":"us. So we did this segmentation"},{"speaker":"Alan Smith","startTime":2191.39,"endTime":2195.7999999999997,"body":"exercise long, long time ago,"},{"speaker":"Alan Smith","startTime":2191.39,"endTime":2195.7999999999997,"body":"and we had like an entry level"},{"speaker":"Alan Smith","startTime":2196.43,"endTime":2198.8199999999997,"body":"service, and it was, we just, we"},{"speaker":"Alan Smith","startTime":2196.43,"endTime":2198.8199999999997,"body":"called it Portfolio Management"},{"speaker":"Alan Smith","startTime":2198.88,"endTime":2202.0299999999997,"body":"Service. You get access to our"},{"speaker":"Alan Smith","startTime":2198.88,"endTime":2202.0299999999997,"body":"intellectual property, our"},{"speaker":"Alan Smith","startTime":2202.12,"endTime":2205.5699999999997,"body":"unique investment portfolios,"},{"speaker":"Alan Smith","startTime":2202.12,"endTime":2205.5699999999997,"body":"which are outperform most other"},{"speaker":"Alan Smith","startTime":2205.66,"endTime":2210.0099999999998,"body":"things out there, similar to you"},{"speaker":"Alan Smith","startTime":2205.66,"endTime":2210.0099999999998,"body":"guys, but no financial planning,"},{"speaker":"Alan Smith","startTime":2210.85,"endTime":2214.93,"body":"because that's complex,"},{"speaker":"Alan Smith","startTime":2210.85,"endTime":2214.93,"body":"time-consuming, and all those"},{"speaker":"Alan Smith","startTime":2214.99,"endTime":2217.41,"body":"things, and really impacts your"},{"speaker":"Alan Smith","startTime":2214.99,"endTime":2217.41,"body":"profit, as you, as you know,"},{"speaker":"Alan Smith","startTime":2217.5,"endTime":2219.5699999999997,"body":"when you're actually building"},{"speaker":"Alan Smith","startTime":2217.5,"endTime":2219.5699999999997,"body":"financial plans and really"},{"speaker":"Alan Smith","startTime":2219.81,"endTime":2222.18,"body":"getting into the weeds of"},{"speaker":"Alan Smith","startTime":2219.81,"endTime":2222.18,"body":"clients' expenditure and all"},{"speaker":"Alan Smith","startTime":2222.18,"endTime":2224.88,"body":"that sort of stuff. So, we did,"},{"speaker":"Alan Smith","startTime":2222.18,"endTime":2224.88,"body":"we ran that for a year or so,"},{"speaker":"Alan Smith","startTime":2225.15,"endTime":2228.6,"body":"and then we just all realized we"},{"speaker":"Alan Smith","startTime":2225.15,"endTime":2228.6,"body":"can't do it, we can't deliver"},{"speaker":"Alan Smith","startTime":2228.69,"endTime":2231.3599999999997,"body":"investment, sensible investment"},{"speaker":"Alan Smith","startTime":2228.69,"endTime":2231.3599999999997,"body":"advice, without knowing what"},{"speaker":"Alan Smith","startTime":2231.42,"endTime":2233.7599999999998,"body":"the, what the problem is we're"},{"speaker":"Alan Smith","startTime":2231.42,"endTime":2233.7599999999998,"body":"trying to solve, what the time"},{"speaker":"Alan Smith","startTime":2233.91,"endTime":2236.9,"body":"horizon is, and so we ended up"},{"speaker":"Alan Smith","startTime":2233.91,"endTime":2236.9,"body":"in this, and this is the risk"},{"speaker":"Alan Smith","startTime":2237.89,"endTime":2240.2,"body":"you will run, Carl, in the"},{"speaker":"Alan Smith","startTime":2237.89,"endTime":2240.2,"body":"future is that you're, you know,"},{"speaker":"Alan Smith","startTime":2240.23,"endTime":2244.16,"body":"you've got your kind of light"},{"speaker":"Alan Smith","startTime":2240.23,"endTime":2244.16,"body":"touch service, for which is all"},{"speaker":"Alan Smith","startTime":2244.46,"endTime":2247.37,"body":"you know costed out well and"},{"speaker":"Alan Smith","startTime":2244.46,"endTime":2247.37,"body":"profitable, but then advisors,"},{"speaker":"Alan Smith","startTime":2247.94,"endTime":2251.54,"body":"we're by nature, we're very"},{"speaker":"Alan Smith","startTime":2247.94,"endTime":2251.54,"body":"helpful and supportive, and you"},{"speaker":"Alan Smith","startTime":2251.6,"endTime":2254.06,"body":"kind of, and you know that"},{"speaker":"Alan Smith","startTime":2251.6,"endTime":2254.06,"body":"there's another service, a"},{"speaker":"Alan Smith","startTime":2254.15,"endTime":2256.96,"body":"little bit more sort of up"},{"speaker":"Alan Smith","startTime":2254.15,"endTime":2256.96,"body":"market, if you like, or more"},{"speaker":"Alan Smith","startTime":2257.0499999999997,"endTime":2259.69,"body":"costly, and you end up, and"},{"speaker":"Alan Smith","startTime":2257.0499999999997,"endTime":2259.69,"body":"that's what we did. We had"},{"speaker":"Alan Smith","startTime":2259.75,"endTime":2262.0,"body":"advisors just delivering"},{"speaker":"Alan Smith","startTime":2259.75,"endTime":2262.0,"body":"financial plans, sort of light"},{"speaker":"Alan Smith","startTime":2262.12,"endTime":2265.33,"body":"touch financial plans. And"},{"speaker":"Alan Smith","startTime":2262.12,"endTime":2265.33,"body":"before we knew it, we thought,"},{"speaker":"Alan Smith","startTime":2265.42,"endTime":2268.48,"body":"bollocks, this doesn't work. We"},{"speaker":"Alan Smith","startTime":2265.42,"endTime":2268.48,"body":"just, we just got to focus on"},{"speaker":"Alan Smith","startTime":2268.81,"endTime":2272.98,"body":"doing one core service. Yes, at"},{"speaker":"Alan Smith","startTime":2268.81,"endTime":2272.98,"body":"the higher end, you can create"},{"speaker":"Alan Smith","startTime":2273.04,"endTime":2276.16,"body":"some really ex useful extra"},{"speaker":"Alan Smith","startTime":2273.04,"endTime":2276.16,"body":"bells and whistles, almost"},{"speaker":"Alan Smith","startTime":2276.22,"endTime":2279.39,"body":"private office, family office"},{"speaker":"Alan Smith","startTime":2276.22,"endTime":2279.39,"body":"type thing, but there's a core"},{"speaker":"Alan Smith","startTime":2279.5099999999998,"endTime":2282.42,"body":"service. If you believe in full"},{"speaker":"Alan Smith","startTime":2279.5099999999998,"endTime":2282.42,"body":"fat financial planning, there's"},{"speaker":"Alan Smith","startTime":2282.48,"endTime":2285.18,"body":"a core service that needs to be"},{"speaker":"Alan Smith","startTime":2282.48,"endTime":2285.18,"body":"delivered. Not saying it can't"},{"speaker":"Alan Smith","startTime":2285.18,"endTime":2289.17,"body":"be done, you can have a digital"},{"speaker":"Alan Smith","startTime":2285.18,"endTime":2289.17,"body":"online DIY type service, but I"},{"speaker":"Alan Smith","startTime":2289.23,"endTime":2291.21,"body":"just think that's running two"},{"speaker":"Alan Smith","startTime":2289.23,"endTime":2291.21,"body":"different businesses under the"},{"speaker":"Alan Smith","startTime":2291.21,"endTime":2294.27,"body":"same roof. Just my experience,"},{"speaker":"Alan Smith","startTime":2291.21,"endTime":2294.27,"body":"but I'm sure you'll figure"},{"speaker":"Andy Hart","startTime":2295.29,"endTime":2297.17,"body":"it out. The irony of"},{"speaker":"Andy Hart","startTime":2295.29,"endTime":2297.17,"body":"you offering that service, Alan,"},{"speaker":"Andy Hart","startTime":2297.23,"endTime":2302.12,"body":"the real value is the financial"},{"speaker":"Andy Hart","startTime":2297.23,"endTime":2302.12,"body":"planning and the driver that's"},{"speaker":"Andy Hart","startTime":2302.15,"endTime":2304.94,"body":"going to get the clients to"},{"speaker":"Andy Hart","startTime":2302.15,"endTime":2304.94,"body":"invest more and potentially"},{"speaker":"Andy Hart","startTime":2305.0,"endTime":2308.0,"body":"become a standard client will be"},{"speaker":"Andy Hart","startTime":2305.0,"endTime":2308.0,"body":"all run via the financial"},{"speaker":"Andy Hart","startTime":2308.06,"endTime":2312.08,"body":"planning, which is the element"},{"speaker":"Andy Hart","startTime":2308.06,"endTime":2312.08,"body":"of the service that you decided"},{"speaker":"Andy Hart","startTime":2312.08,"endTime":2315.02,"body":"to remove. So, what you probably"},{"speaker":"Andy Hart","startTime":2312.08,"endTime":2315.02,"body":"did is they built up 3040, 5080,"},{"speaker":"Andy Hart","startTime":2315.38,"endTime":2317.29,"body":"100, whatever the numbers were,"},{"speaker":"Andy Hart","startTime":2315.38,"endTime":2317.29,"body":"and then shipped it out"},{"speaker":"Andy Hart","startTime":2317.35,"endTime":2320.77,"body":"somewhere, because you won't"},{"speaker":"Andy Hart","startTime":2317.35,"endTime":2320.77,"body":"deliver about it. You think, oh,"},{"speaker":"Andy Hart","startTime":2320.8599999999997,"endTime":2322.45,"body":"they're potentially going to"},{"speaker":"Andy Hart","startTime":2320.8599999999997,"endTime":2322.45,"body":"become a good client here, and"},{"speaker":"Andy Hart","startTime":2322.45,"endTime":2324.79,"body":"then they bought a bought a"},{"speaker":"Andy Hart","startTime":2322.45,"endTime":2324.79,"body":"house that you didn't know about"},{"speaker":"Andy Hart","startTime":2324.85,"endTime":2326.68,"body":"in Devon, or something. Anyway,"},{"speaker":"Carl Widger","startTime":2329.379,"endTime":2333.819,"body":"I agree with Alan,"},{"speaker":"Carl Widger","startTime":2329.379,"endTime":2333.819,"body":"like Methods was was set up for"},{"speaker":"Carl Widger","startTime":2333.909,"endTime":2337.3489999999997,"body":"that core service to look after"},{"speaker":"Carl Widger","startTime":2333.909,"endTime":2337.3489999999997,"body":"and do financial planning, or"},{"speaker":"Carl Widger","startTime":2337.3489999999997,"endTime":2340.949,"body":"whatever, but hey, I'm in a"},{"speaker":"Carl Widger","startTime":2337.3489999999997,"endTime":2340.949,"body":"world now where there's there's"},{"speaker":"Carl Widger","startTime":2341.219,"endTime":2343.8289999999997,"body":"a health insurance division and"},{"speaker":"Carl Widger","startTime":2341.219,"endTime":2343.8289999999997,"body":"employee benefits division, and"},{"speaker":"Carl Widger","startTime":2343.859,"endTime":2346.259,"body":"there's business coming from,"},{"speaker":"Carl Widger","startTime":2343.859,"endTime":2346.259,"body":"like, you wouldn't believe it,"},{"speaker":"Carl Widger","startTime":2346.3489999999997,"endTime":2350.699,"body":"so I have to have to figure this"},{"speaker":"Carl Widger","startTime":2346.3489999999997,"endTime":2350.699,"body":"out, and I think you know we can"},{"speaker":"Carl Widger","startTime":2351.209,"endTime":2354.8689999999997,"body":"offer financial plans, but"},{"speaker":"Carl Widger","startTime":2351.209,"endTime":2354.8689999999997,"body":"charge for them, and that means"},{"speaker":"Carl Widger","startTime":2354.959,"endTime":2358.0989999999997,"body":"most people won't go for the"},{"speaker":"Carl Widger","startTime":2354.959,"endTime":2358.0989999999997,"body":"financial plan at the lower end,"},{"speaker":"Carl Widger","startTime":2358.3089999999997,"endTime":2361.459,"body":"which is goes back to Andy's"},{"speaker":"Carl Widger","startTime":2358.3089999999997,"endTime":2361.459,"body":"point. This is a luxury service,"},{"speaker":"Carl Widger","startTime":2361.5789999999997,"endTime":2365.419,"body":"so we'll be giving our premium"},{"speaker":"Carl Widger","startTime":2361.5789999999997,"endTime":2365.419,"body":"or hot storage use, Andy, but"},{"speaker":"Carl Widger","startTime":2365.5989999999997,"endTime":2369.709,"body":"you know what I mean. Anyway, so"},{"speaker":"Carl Widger","startTime":2365.5989999999997,"endTime":2369.709,"body":"yeah, it's a challenge to very,"},{"speaker":"Alan Smith","startTime":2370.429,"endTime":2372.019,"body":"you're the man of"},{"speaker":"Alan Smith","startTime":2370.429,"endTime":2372.019,"body":"the job, mr. Witcher."},{"speaker":"Carl Widger","startTime":2372.739,"endTime":2375.379,"body":"It's very cool."},{"speaker":"Carl Widger","startTime":2372.739,"endTime":2375.379,"body":"It's actually very cool. The"},{"speaker":"Carl Widger","startTime":2375.379,"endTime":2375.769,"body":"happiness"},{"speaker":"Andy Hart","startTime":2375.83,"endTime":2377.95,"body":"levels on the call"},{"speaker":"Andy Hart","startTime":2375.83,"endTime":2377.95,"body":"between Nicholas Lincoln and"},{"speaker":"Andy Hart","startTime":2378.0099999999998,"endTime":2382.81,"body":"Carl Widger, on the journey"},{"speaker":"Andy Hart","startTime":2378.0099999999998,"endTime":2382.81,"body":"ahead, I can just feel the"},{"speaker":"Andy Hart","startTime":2382.8399999999997,"endTime":2384.49,"body":"number difference here, but"},{"speaker":"Andy Hart","startTime":2382.8399999999997,"endTime":2384.49,"body":"Carl's"},{"speaker":"Nick Lincoln","startTime":2384.58,"endTime":2386.71,"body":"got compensated"},{"speaker":"Nick Lincoln","startTime":2384.58,"endTime":2386.71,"body":"for his, yeah, I know, yeah,"},{"speaker":"Nick Lincoln","startTime":2389.5899999999997,"endTime":2390.64,"body":"yeah, he just looks at"},{"speaker":"Alan Smith","startTime":2390.64,"endTime":2393.31,"body":"his bank account,"},{"speaker":"Alan Smith","startTime":2390.64,"endTime":2393.31,"body":"yeah, everything"},{"speaker":"Andy Hart","startTime":2393.43,"endTime":2395.17,"body":"Nick's having a"},{"speaker":"Andy Hart","startTime":2393.43,"endTime":2395.17,"body":"better time than him, he gets"},{"speaker":"Andy Hart","startTime":2395.29,"endTime":2397.0899999999997,"body":"out the gets out revolute as"},{"speaker":"Nick Lincoln","startTime":2398.92,"endTime":2401.3399999999997,"body":"we I want to make"},{"speaker":"Nick Lincoln","startTime":2398.92,"endTime":2401.3399999999997,"body":"a revolute drop. By the way,"},{"speaker":"Nick Lincoln","startTime":2401.3399999999997,"endTime":2405.54,"body":"this is getting daft. Yeah, just"},{"speaker":"Nick Lincoln","startTime":2401.3399999999997,"endTime":2405.54,"body":"to close on this point, and"},{"speaker":"Nick Lincoln","startTime":2405.5699999999997,"endTime":2408.15,"body":"just, just to underline,"},{"speaker":"Nick Lincoln","startTime":2405.5699999999997,"endTime":2408.15,"body":"underline Andy's point. For the"},{"speaker":"Nick Lincoln","startTime":2408.21,"endTime":2410.49,"body":"younger trappers listening to"},{"speaker":"Nick Lincoln","startTime":2408.21,"endTime":2410.49,"body":"this, the financial plan is kind"},{"speaker":"Nick Lincoln","startTime":2410.49,"endTime":2413.31,"body":"of still born. There's no value"},{"speaker":"Nick Lincoln","startTime":2410.49,"endTime":2413.31,"body":"in a financial plan, it's out of"},{"speaker":"Nick Lincoln","startTime":2413.37,"endTime":2415.62,"body":"date. The moment it's done, the"},{"speaker":"Nick Lincoln","startTime":2413.37,"endTime":2415.62,"body":"value to the client is in the"},{"speaker":"Nick Lincoln","startTime":2415.62,"endTime":2418.64,"body":"financial planning, the ongoing,"},{"speaker":"Nick Lincoln","startTime":2415.62,"endTime":2418.64,"body":"the ongoing service, and that's"},{"speaker":"Nick Lincoln","startTime":2418.64,"endTime":2421.85,"body":"why I don't think a light touch"},{"speaker":"Nick Lincoln","startTime":2418.64,"endTime":2421.85,"body":"financial plan service can never"},{"speaker":"Nick Lincoln","startTime":2422.18,"endTime":2425.81,"body":"really, really work. Okay. Oh"},{"speaker":"Nick Lincoln","startTime":2422.18,"endTime":2425.81,"body":"yeah, more good news from our"},{"speaker":"Nick Lincoln","startTime":2425.8399999999997,"endTime":2426.5299999999997,"body":"beloved Treasury."},{"speaker":"Andy Hart","startTime":2427.8199999999997,"endTime":2429.47,"body":"Yeah, this is"},{"speaker":"Andy Hart","startTime":2427.8199999999997,"endTime":2429.47,"body":"dreadful, dreadfully dull and"},{"speaker":"Andy Hart","startTime":2429.5,"endTime":2431.9,"body":"boring, but we'll mention"},{"speaker":"Andy Hart","startTime":2429.5,"endTime":2431.9,"body":"anyway. So, the Treasury has"},{"speaker":"Andy Hart","startTime":2431.96,"endTime":2437.68,"body":"confirmed 22% stocks and shares"},{"speaker":"Andy Hart","startTime":2431.96,"endTime":2437.68,"body":"ISER cash interest charge. Now,"},{"speaker":"Andy Hart","startTime":2437.77,"endTime":2442.33,"body":"this is very unusual for the ISA"},{"speaker":"Andy Hart","startTime":2437.77,"endTime":2442.33,"body":"historical PEP, etc. etc."},{"speaker":"Andy Hart","startTime":2443.08,"endTime":2446.47,"body":"They've never meddled with it. I"},{"speaker":"Andy Hart","startTime":2443.08,"endTime":2446.47,"body":"don't believe"},{"speaker":"Nick Lincoln","startTime":2448.33,"endTime":2449.71,"body":"they used to"},{"speaker":"Nick Lincoln","startTime":2448.33,"endTime":2449.71,"body":"charge interest on cash."},{"speaker":"Andy Hart","startTime":2450.7,"endTime":2452.41,"body":"Okay, since I've been"},{"speaker":"Andy Hart","startTime":2450.7,"endTime":2452.41,"body":"an advisor, because obviously"},{"speaker":"Andy Hart","startTime":2452.41,"endTime":2454.8399999999997,"body":"you boys are a lot older than"},{"speaker":"Andy Hart","startTime":2452.41,"endTime":2454.8399999999997,"body":"me, they've never faffed around"},{"speaker":"Andy Hart","startTime":2454.8399999999997,"endTime":2457.68,"body":"with the ISA, the interest"},{"speaker":"Andy Hart","startTime":2454.8399999999997,"endTime":2457.68,"body":"inside it. Carl, mute, please."},{"speaker":"Andy Hart","startTime":2457.74,"endTime":2461.7599999999998,"body":"Sorry, mate, you're typing,"},{"speaker":"Andy Hart","startTime":2457.74,"endTime":2461.7599999999998,"body":"okay? So they charge 22% on cash"},{"speaker":"Andy Hart","startTime":2461.94,"endTime":2466.3199999999997,"body":"inside stocks and shares ISAs."},{"speaker":"Andy Hart","startTime":2461.94,"endTime":2466.3199999999997,"body":"So there's this, there's this"},{"speaker":"Andy Hart","startTime":2466.44,"endTime":2470.58,"body":"movement to limiting the cash"},{"speaker":"Andy Hart","startTime":2466.44,"endTime":2470.58,"body":"ISA now to 12,000 pounds cap for"},{"speaker":"Andy Hart","startTime":2470.6099999999997,"endTime":2474.8399999999997,"body":"people under 65 They're trying"},{"speaker":"Andy Hart","startTime":2470.6099999999997,"endTime":2474.8399999999997,"body":"to promote an investing culture,"},{"speaker":"Andy Hart","startTime":2475.2,"endTime":2478.1,"body":"that's why they're making."},{"speaker":"Andy Hart","startTime":2475.2,"endTime":2478.1,"body":"Making cash inside investment"},{"speaker":"Andy Hart","startTime":2478.25,"endTime":2483.14,"body":"ices unattractive, and they're"},{"speaker":"Andy Hart","startTime":2478.25,"endTime":2483.14,"body":"also restricting investment ices"},{"speaker":"Andy Hart","startTime":2483.23,"endTime":2486.1099999999997,"body":"moving to cash, then being"},{"speaker":"Andy Hart","startTime":2483.23,"endTime":2486.1099999999997,"body":"switched to cash, cash ISS. It"},{"speaker":"Andy Hart","startTime":2486.1099999999997,"endTime":2488.06,"body":"can still, the money can still"},{"speaker":"Andy Hart","startTime":2486.1099999999997,"endTime":2488.06,"body":"go the other way around from"},{"speaker":"Andy Hart","startTime":2488.12,"endTime":2491.24,"body":"cash to investment ISIS. I'm not"},{"speaker":"Andy Hart","startTime":2488.12,"endTime":2491.24,"body":"too sure about if that's a"},{"speaker":"Andy Hart","startTime":2491.33,"endTime":2496.0699999999997,"body":"change restricting it from"},{"speaker":"Andy Hart","startTime":2491.33,"endTime":2496.0699999999997,"body":"investment ISIS to cash ISIS,"},{"speaker":"Andy Hart","startTime":2496.1,"endTime":2498.64,"body":"because I've never had to do it"},{"speaker":"Andy Hart","startTime":2496.1,"endTime":2498.64,"body":"that way round. Okay, well,"},{"speaker":"Andy Hart","startTime":2498.64,"endTime":2503.3199999999997,"body":"that's a new change, and also"},{"speaker":"Andy Hart","startTime":2498.64,"endTime":2503.3199999999997,"body":"this is the recurring theme of"},{"speaker":"Andy Hart","startTime":2503.41,"endTime":2508.15,"body":"them forcing you at some point"},{"speaker":"Andy Hart","startTime":2503.41,"endTime":2508.15,"body":"to invest some of your proceeds"},{"speaker":"Andy Hart","startTime":2508.21,"endTime":2511.75,"body":"and funds inside an investment"},{"speaker":"Andy Hart","startTime":2508.21,"endTime":2511.75,"body":"ISA into specifically UK"},{"speaker":"Andy Hart","startTime":2511.93,"endTime":2518.94,"body":"companies. This is their bright"},{"speaker":"Andy Hart","startTime":2511.93,"endTime":2518.94,"body":"idea, it's messy, and now all"},{"speaker":"Andy Hart","startTime":2519.0899999999997,"endTime":2523.98,"body":"the platforms I'm assuming I got"},{"speaker":"Andy Hart","startTime":2519.0899999999997,"endTime":2523.98,"body":"another job to do in terms of"},{"speaker":"Andy Hart","startTime":2524.04,"endTime":2527.0699999999997,"body":"trying to work out the"},{"speaker":"Andy Hart","startTime":2524.04,"endTime":2527.0699999999997,"body":"percentage interest on the cash,"},{"speaker":"Andy Hart","startTime":2527.73,"endTime":2532.35,"body":"so now there might be a triple"},{"speaker":"Andy Hart","startTime":2527.73,"endTime":2532.35,"body":"cash skim on investment ISAs."},{"speaker":"Andy Hart","startTime":2533.37,"endTime":2537.47,"body":"The platform will be holding"},{"speaker":"Andy Hart","startTime":2533.37,"endTime":2537.47,"body":"back their margin, which is not"},{"speaker":"Andy Hart","startTime":2537.5,"endTime":2539.39,"body":"unusual. Banks have been doing"},{"speaker":"Andy Hart","startTime":2537.5,"endTime":2539.39,"body":"it forever, but it's just a bit,"},{"speaker":"Andy Hart","startTime":2540.29,"endTime":2546.41,"body":"seems a bit icky, icky from the"},{"speaker":"Andy Hart","startTime":2540.29,"endTime":2546.41,"body":"platforms. They'll be charging"},{"speaker":"Andy Hart","startTime":2546.44,"endTime":2552.02,"body":"their normal fees, and then"},{"speaker":"Andy Hart","startTime":2546.44,"endTime":2552.02,"body":"there'll be 22% on the interest"},{"speaker":"Andy Hart","startTime":2552.2599999999998,"endTime":2555.8599999999997,"body":"element of it. So, another sort"},{"speaker":"Andy Hart","startTime":2552.2599999999998,"endTime":2555.8599999999997,"body":"of three clips of the ticket, as"},{"speaker":"Andy Hart","startTime":2555.95,"endTime":2560.0499999999997,"body":"we call it. I think this is"},{"speaker":"Andy Hart","startTime":2555.95,"endTime":2560.0499999999997,"body":"going to come into law or"},{"speaker":"Andy Hart","startTime":2560.17,"endTime":2564.79,"body":"regulation. So, anyway, Smithy,"},{"speaker":"Andy Hart","startTime":2560.17,"endTime":2564.79,"body":"over to you. Do you know"},{"speaker":"Alan Smith","startTime":2566.1099999999997,"endTime":2567.85,"body":"the really"},{"speaker":"Alan Smith","startTime":2566.1099999999997,"endTime":2567.85,"body":"interesting thing about all this"},{"speaker":"Alan Smith","startTime":2568.21,"endTime":2572.38,"body":"is that they've exempted money"},{"speaker":"Alan Smith","startTime":2568.21,"endTime":2572.38,"body":"market funds, so you just park"},{"speaker":"Alan Smith","startTime":2572.8599999999997,"endTime":2575.02,"body":"if you want to, if you want to"},{"speaker":"Alan Smith","startTime":2572.8599999999997,"endTime":2575.02,"body":"help hold cash, you just buy the"},{"speaker":"Alan Smith","startTime":2575.1099999999997,"endTime":2578.7,"body":"whatever it is, the Fidelity"},{"speaker":"Alan Smith","startTime":2575.1099999999997,"endTime":2578.7,"body":"money market, and get cash like"},{"speaker":"Alan Smith","startTime":2578.79,"endTime":2580.7999999999997,"body":"returns with no, there is"},{"speaker":"Nick Lincoln","startTime":2580.83,"endTime":2582.87,"body":"a ring tool there."},{"speaker":"Nick Lincoln","startTime":2580.83,"endTime":2582.87,"body":"I think you can't, you can have"},{"speaker":"Nick Lincoln","startTime":2582.96,"endTime":2587.2799999999997,"body":"99% in money. Yes, if it's 100"},{"speaker":"Nick Lincoln","startTime":2582.96,"endTime":2587.2799999999997,"body":"bizarre world is"},{"speaker":"Andy Hart","startTime":2588.42,"endTime":2590.0699999999997,"body":"like non qualifying"},{"speaker":"Andy Hart","startTime":2588.42,"endTime":2590.0699999999997,"body":"assets. Are"},{"speaker":"Alan Smith","startTime":2591.21,"endTime":2591.69,"body":"you sure? I"},{"speaker":"Andy Hart","startTime":2591.8089999999997,"endTime":2592.409,"body":"mean, yeah,"},{"speaker":"Alan Smith","startTime":2594.089,"endTime":2597.769,"body":"so 99% in something"},{"speaker":"Alan Smith","startTime":2594.089,"endTime":2597.769,"body":"in equities,"},{"speaker":"Nick Lincoln","startTime":2597.92,"endTime":2598.79,"body":"yeah, it's"},{"speaker":"Alan Smith","startTime":2599.93,"endTime":2602.9,"body":"just again the chat."},{"speaker":"Alan Smith","startTime":2599.93,"endTime":2602.9,"body":"I think we've have spoken about"},{"speaker":"Alan Smith","startTime":2602.93,"endTime":2605.5099999999998,"body":"this in the past. One of the"},{"speaker":"Alan Smith","startTime":2602.93,"endTime":2605.5099999999998,"body":"real attractions of ISIS was"},{"speaker":"Alan Smith","startTime":2605.6,"endTime":2609.35,"body":"simplicity. Yeah, now just every"},{"speaker":"Alan Smith","startTime":2605.6,"endTime":2609.35,"body":"client make it more and more"},{"speaker":"Alan Smith","startTime":2609.44,"endTime":2612.29,"body":"complex, and you know, certainly"},{"speaker":"Alan Smith","startTime":2609.44,"endTime":2612.29,"body":"in the short term, until or"},{"speaker":"Alan Smith","startTime":2612.35,"endTime":2615.08,"body":"unless they bring in the, you"},{"speaker":"Alan Smith","startTime":2612.35,"endTime":2615.08,"body":"know, the tax break is only for"},{"speaker":"Alan Smith","startTime":2615.17,"endTime":2618.6099999999997,"body":"UK equities, and as we discussed"},{"speaker":"Alan Smith","startTime":2615.17,"endTime":2618.6099999999997,"body":"that in the past, that's a"},{"speaker":"Alan Smith","startTime":2618.7599999999998,"endTime":2621.67,"body":"nonsense as well, in terms of"},{"speaker":"Alan Smith","startTime":2618.7599999999998,"endTime":2621.67,"body":"where a lot of UK companies make"},{"speaker":"Alan Smith","startTime":2621.7,"endTime":2625.99,"body":"their money. This is a massive"},{"speaker":"Alan Smith","startTime":2621.7,"endTime":2625.99,"body":"boon for the US tech business,"},{"speaker":"Alan Smith","startTime":2627.0699999999997,"endTime":2631.0,"body":"because if people are going to"},{"speaker":"Alan Smith","startTime":2627.0699999999997,"endTime":2631.0,"body":"shift into equities, the default"},{"speaker":"Alan Smith","startTime":2631.0899999999997,"endTime":2636.13,"body":"is that they'll end up in S and"},{"speaker":"Alan Smith","startTime":2631.0899999999997,"endTime":2636.13,"body":"p5 100, and, and what have you."},{"speaker":"Alan Smith","startTime":2636.46,"endTime":2641.0699999999997,"body":"That's what the point is. If the"},{"speaker":"Alan Smith","startTime":2636.46,"endTime":2641.0699999999997,"body":"thought process to try to"},{"speaker":"Alan Smith","startTime":2641.13,"endTime":2645.15,"body":"encourage us to become a nation"},{"speaker":"Alan Smith","startTime":2641.13,"endTime":2645.15,"body":"of investors and savers, I think"},{"speaker":"Alan Smith","startTime":2645.21,"endTime":2646.38,"body":"it's going about it completely."},{"speaker":"Nick Lincoln","startTime":2648.179,"endTime":2649.679,"body":"And also, there"},{"speaker":"Nick Lincoln","startTime":2648.179,"endTime":2649.679,"body":"can't be that much money"},{"speaker":"Nick Lincoln","startTime":2649.769,"endTime":2652.8289999999997,"body":"sloshing around in cash and"},{"speaker":"Nick Lincoln","startTime":2649.769,"endTime":2652.8289999999997,"body":"stocks and shares. I mean, there"},{"speaker":"Nick Lincoln","startTime":2652.8289999999997,"endTime":2653.879,"body":"are certain situations where"},{"speaker":"Andy Hart","startTime":2654.359,"endTime":2656.3889999999997,"body":"I think there's a"},{"speaker":"Andy Hart","startTime":2654.359,"endTime":2656.3889999999997,"body":"lot, only because let's just"},{"speaker":"Andy Hart","startTime":2656.509,"endTime":2659.3889999999997,"body":"assume about 5% is probably in"},{"speaker":"Andy Hart","startTime":2656.509,"endTime":2659.3889999999997,"body":"cash, maybe a little bit more."},{"speaker":"Andy Hart","startTime":2659.449,"endTime":2661.009,"body":"Between five and 10% is in cash,"},{"speaker":"Nick Lincoln","startTime":2661.459,"endTime":2661.6389999999997,"body":"right?"},{"speaker":"Andy Hart","startTime":2661.79,"endTime":2664.46,"body":"The total value of"},{"speaker":"Andy Hart","startTime":2661.79,"endTime":2664.46,"body":"ISA stocks and shares, five, 10%"},{"speaker":"Andy Hart","startTime":2664.7599999999998,"endTime":2668.5099999999998,"body":"is in cash. It's probably a nice"},{"speaker":"Andy Hart","startTime":2664.7599999999998,"endTime":2668.5099999999998,"body":"easy win for them to be totally"},{"speaker":"Andy Hart","startTime":2668.6,"endTime":2669.29,"body":"honest, but again,"},{"speaker":"Nick Lincoln","startTime":2670.2799999999997,"endTime":2670.49,"body":"Robert,"},{"speaker":"Andy Hart","startTime":2673.25,"endTime":2673.31,"body":"I'll"},{"speaker":"Nick Lincoln","startTime":2673.91,"endTime":2677.14,"body":"get my 5% down to"},{"speaker":"Nick Lincoln","startTime":2673.91,"endTime":2677.14,"body":"2% It's not gonna, you know, so"},{"speaker":"Nick Lincoln","startTime":2677.23,"endTime":2679.42,"body":"I've, you know, my pen and I,"},{"speaker":"Nick Lincoln","startTime":2677.23,"endTime":2679.42,"body":"we've got stocks and shares"},{"speaker":"Nick Lincoln","startTime":2679.75,"endTime":2682.12,"body":"ISAs, but they're sitting in"},{"speaker":"Nick Lincoln","startTime":2679.75,"endTime":2682.12,"body":"cash, because that money's got"},{"speaker":"Nick Lincoln","startTime":2682.12,"endTime":2684.31,"body":"to be there in two years' time"},{"speaker":"Nick Lincoln","startTime":2682.12,"endTime":2684.31,"body":"to clear the mortgage, right? So"},{"speaker":"Nick Lincoln","startTime":2684.37,"endTime":2687.5499999999997,"body":"it's in cash for a reason. So"},{"speaker":"Nick Lincoln","startTime":2684.37,"endTime":2687.5499999999997,"body":"all I'm doing now is just"},{"speaker":"Nick Lincoln","startTime":2687.7,"endTime":2690.0099999999998,"body":"converting it both to cash ISIS,"},{"speaker":"Nick Lincoln","startTime":2687.7,"endTime":2690.0099999999998,"body":"you know, I'm making that switch"},{"speaker":"Nick Lincoln","startTime":2691.21,"endTime":2694.3599999999997,"body":"over to cash ISIS, and that's"},{"speaker":"Nick Lincoln","startTime":2691.21,"endTime":2694.3599999999997,"body":"what I'm sure people will do."},{"speaker":"Nick Lincoln","startTime":2694.48,"endTime":2698.25,"body":"And hey, presto, the HMRC is not"},{"speaker":"Nick Lincoln","startTime":2694.48,"endTime":2698.25,"body":"getting 22% of the interest on"},{"speaker":"Nick Lincoln","startTime":2698.31,"endTime":2702.0,"body":"my stocks and shares, ISIS in"},{"speaker":"Nick Lincoln","startTime":2698.31,"endTime":2702.0,"body":"that situation, and also talk"},{"speaker":"Nick Lincoln","startTime":2702.0,"endTime":2704.43,"body":"about simplicity and the beauty"},{"speaker":"Nick Lincoln","startTime":2702.0,"endTime":2704.43,"body":"of ISIS. What was their"},{"speaker":"Nick Lincoln","startTime":2704.49,"endTime":2707.46,"body":"simplicity? They're revamping"},{"speaker":"Nick Lincoln","startTime":2704.49,"endTime":2707.46,"body":"the LISA, aren't they?"},{"speaker":"Nick Lincoln","startTime":2709.83,"endTime":2711.7799999999997,"body":"Complicated, that looks like the"},{"speaker":"Nick Lincoln","startTime":2709.83,"endTime":2711.7799999999997,"body":"most complicated thing ever."},{"speaker":"Nick Lincoln","startTime":2714.39,"endTime":2719.45,"body":"Okay, so, as Sarah, okay, where"},{"speaker":"Nick Lincoln","startTime":2714.39,"endTime":2719.45,"body":"are we on the slate? So, over to"},{"speaker":"Nick Lincoln","startTime":2719.63,"endTime":2723.0499999999997,"body":"you, Nicholas Morgan. Thank you,"},{"speaker":"Nick Lincoln","startTime":2719.63,"endTime":2723.0499999999997,"body":"thank you, Ultra. So, yes, bit"},{"speaker":"Nick Lincoln","startTime":2723.0499999999997,"endTime":2728.9,"body":"of ongoing open saw with me,"},{"speaker":"Nick Lincoln","startTime":2723.0499999999997,"endTime":2728.9,"body":"FNZ. I don't know their figures,"},{"speaker":"Nick Lincoln","startTime":2728.96,"endTime":2734.3599999999997,"body":"they, so the last last year,"},{"speaker":"Nick Lincoln","startTime":2728.96,"endTime":2734.3599999999997,"body":"2025 their losses rose by 98% to"},{"speaker":"Nick Lincoln","startTime":2735.0499999999997,"endTime":2740.8599999999997,"body":"1.4 billion US dollars, and of"},{"speaker":"Nick Lincoln","startTime":2735.0499999999997,"endTime":2740.8599999999997,"body":"course, the CEO and the CFO"},{"speaker":"Nick Lincoln","startTime":2740.98,"endTime":2742.48,"body":"said, well, there were"},{"speaker":"Nick Lincoln","startTime":2740.98,"endTime":2742.48,"body":"exceptional write-offs in that"},{"speaker":"Nick Lincoln","startTime":2742.6,"endTime":2744.91,"body":"year, blah blah blah, but they"},{"speaker":"Nick Lincoln","startTime":2742.6,"endTime":2744.91,"body":"seem to be having year upon year"},{"speaker":"Nick Lincoln","startTime":2745.15,"endTime":2748.3599999999997,"body":"really quite worrying figures,"},{"speaker":"Nick Lincoln","startTime":2745.15,"endTime":2748.3599999999997,"body":"and given that FNZ powers"},{"speaker":"Nick Lincoln","startTime":2748.8399999999997,"endTime":2751.18,"body":"apparently the two biggest"},{"speaker":"Nick Lincoln","startTime":2748.8399999999997,"endTime":2751.18,"body":"advisor-led platforms, according"},{"speaker":"Nick Lincoln","startTime":2751.18,"endTime":2755.47,"body":"to the link from CityWork, which"},{"speaker":"Nick Lincoln","startTime":2751.18,"endTime":2755.47,"body":"are Quilter and Aviva, I don't"},{"speaker":"Nick Lincoln","startTime":2755.47,"endTime":2758.16,"body":"know, I would be getting that, I"},{"speaker":"Nick Lincoln","startTime":2755.47,"endTime":2758.16,"body":"think this, I'd be getting"},{"speaker":"Nick Lincoln","startTime":2758.2799999999997,"endTime":2759.9,"body":"nervous about this. I need to"},{"speaker":"Andy Hart","startTime":2759.96,"endTime":2760.83,"body":"get acquired quickly."},{"speaker":"Nick Lincoln","startTime":2761.6389999999997,"endTime":2764.069,"body":"Yeah, something,"},{"speaker":"Nick Lincoln","startTime":2761.6389999999997,"endTime":2764.069,"body":"something. Who's"},{"speaker":"Alan Smith","startTime":2764.16,"endTime":2767.43,"body":"gonna, who's gonna"},{"speaker":"Alan Smith","startTime":2764.16,"endTime":2767.43,"body":"acquire a dated technology and"},{"speaker":"Alan Smith","startTime":2768.15,"endTime":2769.29,"body":"massive loss-making business?"},{"speaker":"Andy Hart","startTime":2769.3489999999997,"endTime":2771.509,"body":"They, they will be"},{"speaker":"Andy Hart","startTime":2769.3489999999997,"endTime":2771.509,"body":"acquired. I'm telling you,"},{"speaker":"Andy Hart","startTime":2771.5389999999998,"endTime":2774.269,"body":"they'll be acquired. They've got"},{"speaker":"Andy Hart","startTime":2771.5389999999998,"endTime":2774.269,"body":"a shed load of influence and"},{"speaker":"Andy Hart","startTime":2774.3289999999997,"endTime":2777.379,"body":"assets. There'll be lots of"},{"speaker":"Andy Hart","startTime":2774.3289999999997,"endTime":2777.379,"body":"firms. Just licking their lips"},{"speaker":"Andy Hart","startTime":2777.799,"endTime":2779.149,"body":"on acquiring that for cheap,"},{"speaker":"Alan Smith","startTime":2779.63,"endTime":2780.0499999999997,"body":"have you?"},{"speaker":"Andy Hart","startTime":2780.35,"endTime":2781.22,"body":"They need to be"},{"speaker":"Andy Hart","startTime":2780.35,"endTime":2781.22,"body":"acquired."},{"speaker":"Alan Smith","startTime":2781.49,"endTime":2782.18,"body":"Have you finished,"},{"speaker":"Alan Smith","startTime":2781.49,"endTime":2782.18,"body":"Nick?"},{"speaker":"Nick Lincoln","startTime":2783.1099999999997,"endTime":2784.49,"body":"Yeah, just wanted"},{"speaker":"Nick Lincoln","startTime":2783.1099999999997,"endTime":2784.49,"body":"to bring that. Yeah, thank you."},{"speaker":"Alan Smith","startTime":2784.79,"endTime":2787.52,"body":"No, I just wanted to"},{"speaker":"Alan Smith","startTime":2784.79,"endTime":2787.52,"body":"add to that, because the other"},{"speaker":"Alan Smith","startTime":2788.27,"endTime":2792.44,"body":"platform that they largely power"},{"speaker":"Alan Smith","startTime":2788.27,"endTime":2792.44,"body":"is Aberdeen, who, as you know,"},{"speaker":"Alan Smith","startTime":2792.98,"endTime":2796.66,"body":"we've got quite a few, quite a"},{"speaker":"Alan Smith","startTime":2792.98,"endTime":2796.66,"body":"few quid on it, to say the"},{"speaker":"Alan Smith","startTime":2796.81,"endTime":2802.27,"body":"least, and I, yeah, I got to say"},{"speaker":"Alan Smith","startTime":2796.81,"endTime":2802.27,"body":"publicly, this is something that"},{"speaker":"Alan Smith","startTime":2803.17,"endTime":2806.35,"body":"we're focusing on now. We have"},{"speaker":"Alan Smith","startTime":2803.17,"endTime":2806.35,"body":"board meetings where we're just"},{"speaker":"Alan Smith","startTime":2806.41,"endTime":2810.73,"body":"understanding what are the kind"},{"speaker":"Alan Smith","startTime":2806.41,"endTime":2810.73,"body":"of risk reward scenarios. I"},{"speaker":"Alan Smith","startTime":2810.88,"endTime":2814.18,"body":"don't suspect for a second that"},{"speaker":"Alan Smith","startTime":2810.88,"endTime":2814.18,"body":"there's any risk to client"},{"speaker":"Alan Smith","startTime":2814.24,"endTime":2817.89,"body":"money, but there's potentially,"},{"speaker":"Alan Smith","startTime":2814.24,"endTime":2817.89,"body":"I mean, they clearly, FNZ, with"},{"speaker":"Alan Smith","startTime":2818.49,"endTime":2823.17,"body":"their sort of input in UK"},{"speaker":"Alan Smith","startTime":2818.49,"endTime":2823.17,"body":"financial services, are too big"},{"speaker":"Alan Smith","startTime":2823.23,"endTime":2827.58,"body":"to fail. They will be bailed"},{"speaker":"Alan Smith","startTime":2823.23,"endTime":2827.58,"body":"out, rescued, or whatever, but I"},{"speaker":"Alan Smith","startTime":2827.7,"endTime":2832.2,"body":"can imagine that is going to be"},{"speaker":"Alan Smith","startTime":2827.7,"endTime":2832.2,"body":"a nightmare to try to sort of"},{"speaker":"Alan Smith","startTime":2832.23,"endTime":2834.63,"body":"pull apart and, sorry,"},{"speaker":"Alan Smith","startTime":2832.23,"endTime":2834.63,"body":"replatform."},{"speaker":"Andy Hart","startTime":2835.319,"endTime":2838.999,"body":"Alan, you and many"},{"speaker":"Andy Hart","startTime":2835.319,"endTime":2838.999,"body":"other advisors, so the shift now"},{"speaker":"Andy Hart","startTime":2839.839,"endTime":2843.499,"body":"of the assets leaving the FNZ"},{"speaker":"Andy Hart","startTime":2839.839,"endTime":2843.499,"body":"bus are going to be"},{"speaker":"Andy Hart","startTime":2843.6189999999997,"endTime":2846.409,"body":"astronomical, hence they need to"},{"speaker":"Andy Hart","startTime":2843.6189999999997,"endTime":2846.409,"body":"get acquired by someone deep"},{"speaker":"Andy Hart","startTime":2846.439,"endTime":2848.449,"body":"pockets and fix this problem"},{"speaker":"Andy Hart","startTime":2846.439,"endTime":2848.449,"body":"before it gets worse and worse"},{"speaker":"Andy Hart","startTime":2848.479,"endTime":2849.049,"body":"and worse and worse."},{"speaker":"Alan Smith","startTime":2849.859,"endTime":2852.499,"body":"I'm just not sure, I"},{"speaker":"Alan Smith","startTime":2849.859,"endTime":2852.499,"body":"mean, yeah, that's an ideal"},{"speaker":"Alan Smith","startTime":2852.589,"endTime":2855.199,"body":"world. Don't forget, and as"},{"speaker":"Alan Smith","startTime":2852.589,"endTime":2855.199,"body":"Nick's mentioned in the past,"},{"speaker":"Alan Smith","startTime":2855.229,"endTime":2858.729,"body":"and it's also referred to in"},{"speaker":"Alan Smith","startTime":2855.229,"endTime":2858.729,"body":"that article, they've got a huge"},{"speaker":"Alan Smith","startTime":2859.239,"endTime":2862.719,"body":"court case going on with their,"},{"speaker":"Alan Smith","startTime":2859.239,"endTime":2862.719,"body":"you know, their employees,"},{"speaker":"Alan Smith","startTime":2862.989,"endTime":2865.209,"body":"former shareholders, and what"},{"speaker":"Alan Smith","startTime":2862.989,"endTime":2865.209,"body":"have you, founder members,"},{"speaker":"Alan Smith","startTime":2865.3889999999997,"endTime":2867.879,"body":"according to the, you know,"},{"speaker":"Alan Smith","startTime":2865.3889999999997,"endTime":2867.879,"body":"allegedly they've stitched them"},{"speaker":"Alan Smith","startTime":2867.999,"endTime":2870.0389999999998,"body":"up in terms of the kind of"},{"speaker":"Alan Smith","startTime":2867.999,"endTime":2870.0389999999998,"body":"refinancing they did with"},{"speaker":"Alan Smith","startTime":2870.189,"endTime":2873.729,"body":"external investors, you"},{"speaker":"Alan Smith","startTime":2870.189,"endTime":2873.729,"body":"mentioned talking about, you"},{"speaker":"Alan Smith","startTime":2873.759,"endTime":2877.019,"body":"know, referring back to get the"},{"speaker":"Alan Smith","startTime":2873.759,"endTime":2877.019,"body":"kumbaya on again, but yeah,"},{"speaker":"Alan Smith","startTime":2877.259,"endTime":2880.739,"body":"employee happiness. Do you see"},{"speaker":"Alan Smith","startTime":2877.259,"endTime":2880.739,"body":"that they do a net promoter"},{"speaker":"Alan Smith","startTime":2880.859,"endTime":2883.319,"body":"score? Just, you know, is it,"},{"speaker":"Alan Smith","startTime":2880.859,"endTime":2883.319,"body":"you know, do you enjoy working"},{"speaker":"Alan Smith","startTime":2883.469,"endTime":2885.839,"body":"here? And it's absolutely at the"},{"speaker":"Alan Smith","startTime":2883.469,"endTime":2885.839,"body":"rock bottom. So, they've got"},{"speaker":"Alan Smith","startTime":2885.929,"endTime":2890.399,"body":"really disgruntled, pissed-off"},{"speaker":"Alan Smith","startTime":2885.929,"endTime":2890.399,"body":"employees, they've got huge, you"},{"speaker":"Alan Smith","startTime":2890.429,"endTime":2895.1389999999997,"body":"know, litigation in play."},{"speaker":"Alan Smith","startTime":2890.429,"endTime":2895.1389999999997,"body":"Billions, billions are at stake,"},{"speaker":"Alan Smith","startTime":2896.3089999999997,"endTime":2899.179,"body":"and from what I can see, and"},{"speaker":"Alan Smith","startTime":2896.3089999999997,"endTime":2899.179,"body":"from what people tell me, the"},{"speaker":"Alan Smith","startTime":2899.239,"endTime":2902.989,"body":"technology is outdated, and we'd"},{"speaker":"Alan Smith","startTime":2899.239,"endTime":2902.989,"body":"need a lot of investment."},{"speaker":"Nick Lincoln","startTime":2903.8889999999997,"endTime":2905.089,"body":"Well, you've had"},{"speaker":"Nick Lincoln","startTime":2903.8889999999997,"endTime":2905.089,"body":"some.. I mean, I'm not gonna.."},{"speaker":"Nick Lincoln","startTime":2905.089,"endTime":2907.519,"body":"I'm not breaching here, but I"},{"speaker":"Nick Lincoln","startTime":2905.089,"endTime":2907.519,"body":"know that Capital has had some"},{"speaker":"Nick Lincoln","startTime":2907.549,"endTime":2909.319,"body":"horror stories recently with"},{"speaker":"Nick Lincoln","startTime":2907.549,"endTime":2909.319,"body":"that, Aberdeen, hasn't it? It's"},{"speaker":"Nick Lincoln","startTime":2909.319,"endTime":2911.419,"body":"just.. it seems like, you know,"},{"speaker":"Nick Lincoln","startTime":2909.319,"endTime":2911.419,"body":"yeah. I mean,"},{"speaker":"Alan Smith","startTime":2911.5699999999997,"endTime":2915.2599999999998,"body":"this is the thing,"},{"speaker":"Alan Smith","startTime":2911.5699999999997,"endTime":2915.2599999999998,"body":"you've.. and again, you learn as"},{"speaker":"Alan Smith","startTime":2915.29,"endTime":2918.3399999999997,"body":"you, as you go along, you know,"},{"speaker":"Alan Smith","startTime":2915.29,"endTime":2918.3399999999997,"body":"you got Aberdeen, who are you"},{"speaker":"Alan Smith","startTime":2918.3399999999997,"endTime":2920.5899999999997,"body":"know, they were certainly one of"},{"speaker":"Alan Smith","startTime":2918.3399999999997,"endTime":2920.5899999999997,"body":"the largest, most successful"},{"speaker":"Alan Smith","startTime":2920.68,"endTime":2925.42,"body":"platforms in the UK, advisor"},{"speaker":"Alan Smith","startTime":2920.68,"endTime":2925.42,"body":"platforms. They've got their own"},{"speaker":"Alan Smith","startTime":2925.5099999999998,"endTime":2927.31,"body":"challenges, you know, you know,"},{"speaker":"Alan Smith","startTime":2925.5099999999998,"endTime":2927.31,"body":"they've been through, there's"},{"speaker":"Alan Smith","startTime":2927.3399999999997,"endTime":2929.77,"body":"been well documented, their"},{"speaker":"Alan Smith","startTime":2927.3399999999997,"endTime":2929.77,"body":"share price, it has recovered a"},{"speaker":"Alan Smith","startTime":2929.83,"endTime":2932.29,"body":"fair bit, but the share price"},{"speaker":"Alan Smith","startTime":2929.83,"endTime":2932.29,"body":"was absolutely cratered over the"},{"speaker":"Alan Smith","startTime":2932.3199999999997,"endTime":2934.93,"body":"last five years. There were lots"},{"speaker":"Alan Smith","startTime":2932.3199999999997,"endTime":2934.93,"body":"of issues going on in that"},{"speaker":"Alan Smith","startTime":2934.99,"endTime":2938.7599999999998,"body":"organization, but then the next"},{"speaker":"Alan Smith","startTime":2934.99,"endTime":2938.7599999999998,"body":"layer beneath them is FNZ, which"},{"speaker":"Alan Smith","startTime":2938.79,"endTime":2943.74,"body":"is largely powered and provided"},{"speaker":"Alan Smith","startTime":2938.79,"endTime":2943.74,"body":"the technology for their wrap"},{"speaker":"Alan Smith","startTime":2943.92,"endTime":2947.8199999999997,"body":"platform, as they call it. So,"},{"speaker":"Alan Smith","startTime":2943.92,"endTime":2947.8199999999997,"body":"there's like two layers of"},{"speaker":"Alan Smith","startTime":2948.0899999999997,"endTime":2950.6099999999997,"body":"issues there. If one of them was"},{"speaker":"Alan Smith","startTime":2948.0899999999997,"endTime":2950.6099999999997,"body":"was working really well, you"},{"speaker":"Alan Smith","startTime":2950.64,"endTime":2953.46,"body":"could probably just about manage"},{"speaker":"Alan Smith","startTime":2950.64,"endTime":2953.46,"body":"it. So, it's it's a real issue,"},{"speaker":"Alan Smith","startTime":2953.91,"endTime":2957.02,"body":"you know. The I know that"},{"speaker":"Alan Smith","startTime":2953.91,"endTime":2957.02,"body":"certainly with Andy and Nick,"},{"speaker":"Alan Smith","startTime":2957.2599999999998,"endTime":2960.74,"body":"all roads lead back to Transac."},{"speaker":"Alan Smith","startTime":2957.2599999999998,"endTime":2960.74,"body":"They're not, they're not"},{"speaker":"Alan Smith","startTime":2960.77,"endTime":2964.97,"body":"without, they're not perfect, to"},{"speaker":"Alan Smith","startTime":2960.77,"endTime":2964.97,"body":"say the least. We use Transac as"},{"speaker":"Alan Smith","startTime":2965.0899999999997,"endTime":2968.2999999999997,"body":"well. Got the challenges. It's"},{"speaker":"Alan Smith","startTime":2965.0899999999997,"endTime":2968.2999999999997,"body":"interesting, as this, you know,"},{"speaker":"Alan Smith","startTime":2969.1099999999997,"endTime":2972.83,"body":"world evolves. You know, Carl's"},{"speaker":"Alan Smith","startTime":2969.1099999999997,"endTime":2972.83,"body":"mentioned SecL going to Ireland."},{"speaker":"Alan Smith","startTime":2973.46,"endTime":2978.16,"body":"SecL seem to be.. I mean, I've"},{"speaker":"Alan Smith","startTime":2973.46,"endTime":2978.16,"body":"heard anecdotal issues with"},{"speaker":"Alan Smith","startTime":2978.31,"endTime":2982.21,"body":"pretty much every platform that"},{"speaker":"Alan Smith","startTime":2978.31,"endTime":2982.21,"body":"we deal with, and you can name"},{"speaker":"Alan Smith","startTime":2982.2999999999997,"endTime":2985.45,"body":"all the all the companies, and"},{"speaker":"Alan Smith","startTime":2982.2999999999997,"endTime":2985.45,"body":"then we'll all talk a good game,"},{"speaker":"Alan Smith","startTime":2985.63,"endTime":2987.88,"body":"but the advisors using them."},{"speaker":"Alan Smith","startTime":2985.63,"endTime":2987.88,"body":"I've just, I've just heard"},{"speaker":"Alan Smith","startTime":2988.0,"endTime":2990.52,"body":"stories, so it's a really, it's"},{"speaker":"Alan Smith","startTime":2988.0,"endTime":2990.52,"body":"a really challenging issue,"},{"speaker":"Alan Smith","startTime":2990.64,"endTime":2992.68,"body":"because platforms, by"},{"speaker":"Alan Smith","startTime":2990.64,"endTime":2992.68,"body":"definition, are the ultimate"},{"speaker":"Alan Smith","startTime":2992.74,"endTime":2995.98,"body":"commodity product, they provide,"},{"speaker":"Alan Smith","startTime":2992.74,"endTime":2995.98,"body":"you know, custody trading, and"},{"speaker":"Alan Smith","startTime":2996.0699999999997,"endTime":2997.92,"body":"so, in theory, and I know this,"},{"speaker":"Alan Smith","startTime":2996.0699999999997,"endTime":2997.92,"body":"they've got a few of them, got"},{"speaker":"Alan Smith","startTime":2997.95,"endTime":3001.16,"body":"bells and whistles and extra"},{"speaker":"Alan Smith","startTime":2997.95,"endTime":3001.16,"body":"things, and as we know in"},{"speaker":"Alan Smith","startTime":3001.43,"endTime":3003.8599999999997,"body":"economics, commoditized"},{"speaker":"Alan Smith","startTime":3001.43,"endTime":3003.8599999999997,"body":"products, there's a race to the"},{"speaker":"Alan Smith","startTime":3003.92,"endTime":3007.13,"body":"bottom on price, but it's a"},{"speaker":"Alan Smith","startTime":3003.92,"endTime":3007.13,"body":"little"},{"speaker":"Carl Widger","startTime":3007.16,"endTime":3009.0499999999997,"body":"bit like banking,"},{"speaker":"Carl Widger","startTime":3007.16,"endTime":3009.0499999999997,"body":"don't, and you know, when you"},{"speaker":"Carl Widger","startTime":3009.1099999999997,"endTime":3011.72,"body":"look at like the traditional"},{"speaker":"Carl Widger","startTime":3009.1099999999997,"endTime":3011.72,"body":"banks trying to move their"},{"speaker":"Carl Widger","startTime":3011.87,"endTime":3015.41,"body":"models into the world, whereas"},{"speaker":"Carl Widger","startTime":3011.87,"endTime":3015.41,"body":"you've got the fintechs coming"},{"speaker":"Carl Widger","startTime":3015.5,"endTime":3017.89,"body":"in, because they, yeah, exactly,"},{"speaker":"Carl Widger","startTime":3015.5,"endTime":3017.89,"body":"they didn't have, they didn't"},{"speaker":"Carl Widger","startTime":3017.95,"endTime":3020.29,"body":"have the legacy shit to deal"},{"speaker":"Carl Widger","startTime":3017.95,"endTime":3020.29,"body":"with. You look at, you look at"},{"speaker":"Carl Widger","startTime":3020.44,"endTime":3024.13,"body":"Fundament, and the work that"},{"speaker":"Carl Widger","startTime":3020.44,"endTime":3024.13,"body":"they're doing, and they got to"},{"speaker":"Carl Widger","startTime":3024.79,"endTime":3028.7799999999997,"body":"start from a blank page and say,"},{"speaker":"Carl Widger","startTime":3024.79,"endTime":3028.7799999999997,"body":"right, what actually does, what"},{"speaker":"Carl Widger","startTime":3028.81,"endTime":3031.8399999999997,"body":"does best in class look like"},{"speaker":"Carl Widger","startTime":3028.81,"endTime":3031.8399999999997,"body":"now, because of the technology"},{"speaker":"Carl Widger","startTime":3031.93,"endTime":3035.7999999999997,"body":"we have available to us. So, the"},{"speaker":"Carl Widger","startTime":3031.93,"endTime":3035.7999999999997,"body":"likes of Fun M Second, you know,"},{"speaker":"Carl Widger","startTime":3035.95,"endTime":3038.97,"body":"they're there, they're well"},{"speaker":"Carl Widger","startTime":3035.95,"endTime":3038.97,"body":"placed, I think, to do really"},{"speaker":"Carl Widger","startTime":3039.0299999999997,"endTime":3040.2599999999998,"body":"well going forward. I really do."},{"speaker":"Alan Smith","startTime":3040.56,"endTime":3042.27,"body":"What will they are?"},{"speaker":"Alan Smith","startTime":3040.56,"endTime":3042.27,"body":"And they can do it at very low"},{"speaker":"Alan Smith","startTime":3042.42,"endTime":3046.5,"body":"cost. I'm just finishing off my"},{"speaker":"Alan Smith","startTime":3042.42,"endTime":3046.5,"body":"point. And you know, I've had"},{"speaker":"Alan Smith","startTime":3047.0699999999997,"endTime":3049.5899999999997,"body":"several conversations with"},{"speaker":"Alan Smith","startTime":3047.0699999999997,"endTime":3049.5899999999997,"body":"Fergie over the years. I don't"},{"speaker":"Alan Smith","startTime":3049.5899999999997,"endTime":3052.23,"body":"really understand the tech"},{"speaker":"Alan Smith","startTime":3049.5899999999997,"endTime":3052.23,"body":"aspect of it, but basically, as"},{"speaker":"Alan Smith","startTime":3052.5,"endTime":3056.52,"body":"you know, that's in our shit"},{"speaker":"Alan Smith","startTime":3052.5,"endTime":3056.52,"body":"non-technical conversation,"},{"speaker":"Alan Smith","startTime":3056.6099999999997,"endTime":3059.72,"body":"Carl. They've just got more"},{"speaker":"Alan Smith","startTime":3056.6099999999997,"endTime":3059.72,"body":"modern technology that is, it's"},{"speaker":"Alan Smith","startTime":3059.81,"endTime":3063.47,"body":"just very efficient, and they"},{"speaker":"Alan Smith","startTime":3059.81,"endTime":3063.47,"body":"can deliver it at this, just"},{"speaker":"Alan Smith","startTime":3064.0699999999997,"endTime":3067.52,"body":"wafer thin, you know, basis"},{"speaker":"Alan Smith","startTime":3064.0699999999997,"endTime":3067.52,"body":"points and costs. I think they"},{"speaker":"Alan Smith","startTime":3067.58,"endTime":3069.2,"body":"can run it for two or three"},{"speaker":"Alan Smith","startTime":3067.58,"endTime":3069.2,"body":"basis points"},{"speaker":"Carl Widger","startTime":3069.589,"endTime":3073.339,"body":"very, very quickly,"},{"speaker":"Carl Widger","startTime":3069.589,"endTime":3073.339,"body":"you know. So, yeah, so this is"},{"speaker":"Carl Widger","startTime":3073.3689999999997,"endTime":3073.939,"body":"going to be an issue,"},{"speaker":"Alan Smith","startTime":3074.509,"endTime":3077.529,"body":"as is, you've. Not"},{"speaker":"Alan Smith","startTime":3074.509,"endTime":3077.529,"body":"just incumbents, legacy"},{"speaker":"Alan Smith","startTime":3077.649,"endTime":3081.5789999999997,"body":"providers, but it's just, it is"},{"speaker":"Alan Smith","startTime":3077.649,"endTime":3081.5789999999997,"body":"still very, very difficult. You"},{"speaker":"Alan Smith","startTime":3081.609,"endTime":3083.679,"body":"can't just flick a switch and"},{"speaker":"Alan Smith","startTime":3081.609,"endTime":3083.679,"body":"say let's all move to fundment."},{"speaker":"Alan Smith","startTime":3083.769,"endTime":3086.3489999999997,"body":"It's not quite as easy as that,"},{"speaker":"Alan Smith","startTime":3083.769,"endTime":3086.3489999999997,"body":"despite what Ola tells me."},{"speaker":"Andy Hart","startTime":3088.15,"endTime":3091.9,"body":"But remember, FNZ are"},{"speaker":"Andy Hart","startTime":3088.15,"endTime":3091.9,"body":"the layer below fundment. I"},{"speaker":"Andy Hart","startTime":3091.96,"endTime":3095.5899999999997,"body":"mean, fund men provide their own"},{"speaker":"Andy Hart","startTime":3091.96,"endTime":3095.5899999999997,"body":"tech, Transac provide their own"},{"speaker":"Andy Hart","startTime":3095.77,"endTime":3100.98,"body":"tech, HL provide their own tech."},{"speaker":"Andy Hart","startTime":3095.77,"endTime":3100.98,"body":"This is, I probably guesstimate,"},{"speaker":"Andy Hart","startTime":3101.13,"endTime":3105.39,"body":"about 80% of the platforms are"},{"speaker":"Andy Hart","startTime":3101.13,"endTime":3105.39,"body":"powered by a third party. Yeah,"},{"speaker":"Andy Hart","startTime":3105.54,"endTime":3110.16,"body":"20% of them only have their own"},{"speaker":"Andy Hart","startTime":3105.54,"endTime":3110.16,"body":"tech, and mostly the ones that"},{"speaker":"Andy Hart","startTime":3110.19,"endTime":3113.64,"body":"have their own tech, there's"},{"speaker":"Andy Hart","startTime":3110.19,"endTime":3113.64,"body":"less horror stories being shared"},{"speaker":"Andy Hart","startTime":3113.67,"endTime":3117.14,"body":"about them. The assets on the"},{"speaker":"Andy Hart","startTime":3113.67,"endTime":3117.14,"body":"platform of FNZ at the moment, a"},{"speaker":"Andy Hart","startTime":3117.2599999999998,"endTime":3122.99,"body":"2.5 trillion, and rising every"},{"speaker":"Andy Hart","startTime":3117.2599999999998,"endTime":3122.99,"body":"single day. The revenue for last"},{"speaker":"Andy Hart","startTime":3123.02,"endTime":3126.2599999999998,"body":"year was 1.8 billion, and, as"},{"speaker":"Andy Hart","startTime":3123.02,"endTime":3126.2599999999998,"body":"Nick alluded to, the loss was"},{"speaker":"Andy Hart","startTime":3126.38,"endTime":3130.85,"body":"1.4 billion. So, there's not a"},{"speaker":"Andy Hart","startTime":3126.38,"endTime":3130.85,"body":"lot of money swashing around"},{"speaker":"Andy Hart","startTime":3130.88,"endTime":3133.7599999999998,"body":"here, and you're right, Alan, it"},{"speaker":"Andy Hart","startTime":3130.88,"endTime":3133.7599999999998,"body":"is a race to the bottom. You can"},{"speaker":"Andy Hart","startTime":3133.79,"endTime":3138.5499999999997,"body":"imagine the pricing arrangements"},{"speaker":"Andy Hart","startTime":3133.79,"endTime":3138.5499999999997,"body":"they have with some of their"},{"speaker":"Andy Hart","startTime":3138.64,"endTime":3142.18,"body":"largest clients. Yeah, I think"},{"speaker":"Andy Hart","startTime":3138.64,"endTime":3142.18,"body":"SJP recently, when they did a"},{"speaker":"Andy Hart","startTime":3142.24,"endTime":3144.25,"body":"lot of their big deals on the"},{"speaker":"Andy Hart","startTime":3142.24,"endTime":3144.25,"body":"asset management, they were"},{"speaker":"Andy Hart","startTime":3144.37,"endTime":3147.37,"body":"paying basis points I've never"},{"speaker":"Andy Hart","startTime":3144.37,"endTime":3147.37,"body":"seen before, you know, like"},{"speaker":"Andy Hart","startTime":3147.52,"endTime":3153.0699999999997,"body":"0.01118 basis points, not even"},{"speaker":"Andy Hart","startTime":3147.52,"endTime":3153.0699999999997,"body":"10 basis. So, so the deals that"},{"speaker":"Andy Hart","startTime":3153.1,"endTime":3155.5299999999997,"body":"they're cutting on these things"},{"speaker":"Andy Hart","startTime":3153.1,"endTime":3155.5299999999997,"body":"obviously show through to the"},{"speaker":"Andy Hart","startTime":3155.65,"endTime":3158.73,"body":"accounts, but they need to do"},{"speaker":"Andy Hart","startTime":3155.65,"endTime":3158.73,"body":"something. If the employees are"},{"speaker":"Andy Hart","startTime":3159.69,"endTime":3162.21,"body":"incredibly unhappy, the"},{"speaker":"Andy Hart","startTime":3159.69,"endTime":3162.21,"body":"company's hemorrhaging money,"},{"speaker":"Andy Hart","startTime":3164.25,"endTime":3165.66,"body":"someone needs to make a"},{"speaker":"Andy Hart","startTime":3164.25,"endTime":3165.66,"body":"decision, don't they? And"},{"speaker":"Andy Hart","startTime":3165.66,"endTime":3167.58,"body":"they've got a court case with"},{"speaker":"Andy Hart","startTime":3165.66,"endTime":3167.58,"body":"the original founders. It's,"},{"speaker":"Andy Hart","startTime":3169.02,"endTime":3171.42,"body":"it's a little bit worrying. A"},{"speaker":"Andy Hart","startTime":3169.02,"endTime":3171.42,"body":"two and a half trillion, you"},{"speaker":"Andy Hart","startTime":3171.42,"endTime":3173.8199999999997,"body":"know, is on their platform."},{"speaker":"Andy Hart","startTime":3171.42,"endTime":3173.8199999999997,"body":"Always we go."},{"speaker":"Nick Lincoln","startTime":3174.69,"endTime":3176.4,"body":"Okay, that's good."},{"speaker":"Nick Lincoln","startTime":3174.69,"endTime":3176.4,"body":"Thrashing watch,"},{"speaker":"Carl Widger","startTime":3177.6,"endTime":3182.24,"body":"yeah, the Renatus M"},{"speaker":"Carl Widger","startTime":3177.6,"endTime":3182.24,"body":"and A newsletter. So, Renatas"},{"speaker":"Carl Widger","startTime":3182.5099999999998,"endTime":3187.25,"body":"are an Irish private equity"},{"speaker":"Carl Widger","startTime":3182.5099999999998,"endTime":3187.25,"body":"firm, and they do this"},{"speaker":"Carl Widger","startTime":3187.3399999999997,"endTime":3191.0299999999997,"body":"newsletter every Sunday. Now,"},{"speaker":"Carl Widger","startTime":3187.3399999999997,"endTime":3191.0299999999997,"body":"it's very Irish-oriented, so I"},{"speaker":"Carl Widger","startTime":3191.12,"endTime":3194.0,"body":"suppose this is for our Irish"},{"speaker":"Carl Widger","startTime":3191.12,"endTime":3194.0,"body":"fuel viewers and listeners. If"},{"speaker":"Carl Widger","startTime":3194.06,"endTime":3197.56,"body":"you're not subscribed to it"},{"speaker":"Carl Widger","startTime":3194.06,"endTime":3197.56,"body":"already, you should. It's, it's"},{"speaker":"Carl Widger","startTime":3197.65,"endTime":3200.5299999999997,"body":"pretty cool. They do a kind of"},{"speaker":"Carl Widger","startTime":3197.65,"endTime":3200.5299999999997,"body":"opinion piece at the start. They"},{"speaker":"Carl Widger","startTime":3200.62,"endTime":3203.5299999999997,"body":"talk about all the M and A"},{"speaker":"Carl Widger","startTime":3200.62,"endTime":3203.5299999999997,"body":"activity that's going on in"},{"speaker":"Carl Widger","startTime":3203.62,"endTime":3208.45,"body":"Ireland. Then they'll do kind of"},{"speaker":"Carl Widger","startTime":3203.62,"endTime":3208.45,"body":"companies that have received"},{"speaker":"Carl Widger","startTime":3208.6,"endTime":3211.63,"body":"funding for various things, and"},{"speaker":"Carl Widger","startTime":3208.6,"endTime":3211.63,"body":"then they do people who've been"},{"speaker":"Carl Widger","startTime":3211.66,"endTime":3216.69,"body":"appointed to good jobs. But so I"},{"speaker":"Carl Widger","startTime":3211.66,"endTime":3216.69,"body":"would, I would strongly advise"},{"speaker":"Carl Widger","startTime":3216.8399999999997,"endTime":3219.99,"body":"anybody operating in business at"},{"speaker":"Carl Widger","startTime":3216.8399999999997,"endTime":3219.99,"body":"all in Ireland to make sure that"},{"speaker":"Carl Widger","startTime":3220.02,"endTime":3222.99,"body":"you're on that newsletter, it's"},{"speaker":"Carl Widger","startTime":3220.02,"endTime":3222.99,"body":"really, really good. But this"},{"speaker":"Carl Widger","startTime":3223.08,"endTime":3226.47,"body":"week's opinion piece, Nick"},{"speaker":"Carl Widger","startTime":3223.08,"endTime":3226.47,"body":"prepared to be triggered, was"},{"speaker":"Carl Widger","startTime":3227.91,"endTime":3233.0099999999998,"body":"Ireland versus the UK economy 10"},{"speaker":"Carl Widger","startTime":3227.91,"endTime":3233.0099999999998,"body":"years on from Brexit. So I won't"},{"speaker":"Carl Widger","startTime":3233.0099999999998,"endTime":3239.0899999999997,"body":"go through all of the various"},{"speaker":"Carl Widger","startTime":3233.0099999999998,"endTime":3239.0899999999997,"body":"metrics that they use, but it's"},{"speaker":"Carl Widger","startTime":3239.24,"endTime":3243.0499999999997,"body":"very clear that the one of the"},{"speaker":"Carl Widger","startTime":3239.24,"endTime":3243.0499999999997,"body":"impacts of Brexit, whatever, but"},{"speaker":"Carl Widger","startTime":3243.08,"endTime":3246.62,"body":"the impact, and whatever about"},{"speaker":"Carl Widger","startTime":3243.08,"endTime":3246.62,"body":"what you guys think, Ireland was"},{"speaker":"Carl Widger","startTime":3246.98,"endTime":3251.48,"body":"a massive, massive beneficiary,"},{"speaker":"Carl Widger","startTime":3246.98,"endTime":3251.48,"body":"and the last 10 years for us"},{"speaker":"Carl Widger","startTime":3251.66,"endTime":3257.74,"body":"have have come at a really good"},{"speaker":"Carl Widger","startTime":3251.66,"endTime":3257.74,"body":"time, so we saw a plus 39%"},{"speaker":"Carl Widger","startTime":3258.46,"endTime":3262.54,"body":"employment from 2 million to 2.7"},{"speaker":"Carl Widger","startTime":3258.46,"endTime":3262.54,"body":"9 million, which is effectively"},{"speaker":"Carl Widger","startTime":3262.63,"endTime":3266.41,"body":"full employment, whereas the UK"},{"speaker":"Carl Widger","startTime":3262.63,"endTime":3266.41,"body":"employment increased by 9% in"},{"speaker":"Carl Widger","startTime":3266.41,"endTime":3269.35,"body":"the same period. And then the"},{"speaker":"Carl Widger","startTime":3266.41,"endTime":3269.35,"body":"other one that I thought was"},{"speaker":"Carl Widger","startTime":3269.74,"endTime":3275.23,"body":"really interesting was we had a"},{"speaker":"Carl Widger","startTime":3269.74,"endTime":3275.23,"body":"point 7 billion deficit 10 years"},{"speaker":"Carl Widger","startTime":3275.29,"endTime":3279.0299999999997,"body":"ago, where now 11 point 2"},{"speaker":"Carl Widger","startTime":3275.29,"endTime":3279.0299999999997,"body":"billion surplus. Of course, we"},{"speaker":"Carl Widger","startTime":3279.18,"endTime":3282.12,"body":"can't fall asleep at the wheel,"},{"speaker":"Carl Widger","startTime":3279.18,"endTime":3282.12,"body":"because we know that that's"},{"speaker":"Carl Widger","startTime":3282.75,"endTime":3286.92,"body":"largely resulted from a very few"},{"speaker":"Carl Widger","startTime":3282.75,"endTime":3286.92,"body":"amount of companies, FDI"},{"speaker":"Carl Widger","startTime":3287.1,"endTime":3291.0299999999997,"body":"companies, paying that. But the"},{"speaker":"Carl Widger","startTime":3287.1,"endTime":3291.0299999999997,"body":"deficit in the UK over that"},{"speaker":"Carl Widger","startTime":3291.12,"endTime":3297.35,"body":"period of time grew from 76"},{"speaker":"Carl Widger","startTime":3291.12,"endTime":3297.35,"body":"billion to 129 billion. I am"},{"speaker":"Carl Widger","startTime":3297.62,"endTime":3300.71,"body":"totally aware, totally aware"},{"speaker":"Carl Widger","startTime":3297.62,"endTime":3300.71,"body":"that these things are cycles,"},{"speaker":"Carl Widger","startTime":3301.3399999999997,"endTime":3305.15,"body":"and I'm totally aware that I'm"},{"speaker":"Carl Widger","startTime":3301.3399999999997,"endTime":3305.15,"body":"talking now in Ireland, being in"},{"speaker":"Carl Widger","startTime":3305.24,"endTime":3309.98,"body":"a very, very good place, but we"},{"speaker":"Carl Widger","startTime":3305.24,"endTime":3309.98,"body":"do not have clear road ahead"},{"speaker":"Carl Widger","startTime":3310.16,"endTime":3313.58,"body":"that doesn't come with"},{"speaker":"Carl Widger","startTime":3310.16,"endTime":3313.58,"body":"significant challenge. We do"},{"speaker":"Carl Widger","startTime":3313.7599999999998,"endTime":3316.5099999999998,"body":"have challenges ahead. What will"},{"speaker":"Carl Widger","startTime":3313.7599999999998,"endTime":3316.5099999999998,"body":"this look like in 10 years'"},{"speaker":"Carl Widger","startTime":3316.5699999999997,"endTime":3321.7599999999998,"body":"time, I don't know, but it's"},{"speaker":"Carl Widger","startTime":3316.5699999999997,"endTime":3321.7599999999998,"body":"just interesting to see the"},{"speaker":"Carl Widger","startTime":3322.21,"endTime":3328.0,"body":"economic stories of two"},{"speaker":"Carl Widger","startTime":3322.21,"endTime":3328.0,"body":"next-door neighbors, and I"},{"speaker":"Carl Widger","startTime":3328.0899999999997,"endTime":3331.0299999999997,"body":"suppose the impacts on the"},{"speaker":"Carl Widger","startTime":3328.0899999999997,"endTime":3331.0299999999997,"body":"people living and doing business"},{"speaker":"Carl Widger","startTime":3331.15,"endTime":3333.58,"body":"in the, in those countries. Just"},{"speaker":"Carl Widger","startTime":3331.15,"endTime":3333.58,"body":"interesting, I thought."},{"speaker":"Nick Lincoln","startTime":3335.08,"endTime":3339.0899999999997,"body":"Okay. Thank you"},{"speaker":"Nick Lincoln","startTime":3335.08,"endTime":3339.0899999999997,"body":"for that watch. Okay, so me me,"},{"speaker":"Nick Lincoln","startTime":3339.72,"endTime":3344.64,"body":"so in episode 99 of The Real"},{"speaker":"Nick Lincoln","startTime":3339.72,"endTime":3344.64,"body":"Advisor Podcast, TR AP Trap, we"},{"speaker":"Nick Lincoln","startTime":3344.8199999999997,"endTime":3347.79,"body":"were speaking about what happens"},{"speaker":"Nick Lincoln","startTime":3344.8199999999997,"endTime":3347.79,"body":"with ongoing fees upon the"},{"speaker":"Nick Lincoln","startTime":3347.8199999999997,"endTime":3351.3599999999997,"body":"passing of a client, and whether"},{"speaker":"Nick Lincoln","startTime":3347.8199999999997,"endTime":3351.3599999999997,"body":"or not you should or could"},{"speaker":"Nick Lincoln","startTime":3351.54,"endTime":3354.54,"body":"switch to cash across portfolios"},{"speaker":"Nick Lincoln","startTime":3351.54,"endTime":3354.54,"body":"to lock in the value for the"},{"speaker":"Nick Lincoln","startTime":3354.6,"endTime":3357.5899999999997,"body":"estate, so you don't get angry"},{"speaker":"Nick Lincoln","startTime":3354.6,"endTime":3357.5899999999997,"body":"beneficiaries quibbling that the"},{"speaker":"Nick Lincoln","startTime":3357.68,"endTime":3361.85,"body":"portfolio has dropped by 2% as"},{"speaker":"Nick Lincoln","startTime":3357.68,"endTime":3361.85,"body":"the probate took six months to"},{"speaker":"Nick Lincoln","startTime":3362.15,"endTime":3366.1099999999997,"body":"get through, so anyway, I added"},{"speaker":"Nick Lincoln","startTime":3362.15,"endTime":3366.1099999999997,"body":"a clause to my client agreement"},{"speaker":"Nick Lincoln","startTime":3366.1099999999997,"endTime":3370.6099999999997,"body":"letter, and I said in it, on"},{"speaker":"Nick Lincoln","startTime":3366.1099999999997,"endTime":3370.6099999999997,"body":"your demise, on your passing, we"},{"speaker":"Nick Lincoln","startTime":3370.73,"endTime":3373.64,"body":"will - we, I can't remember the"},{"speaker":"Nick Lincoln","startTime":3370.73,"endTime":3373.64,"body":"exact word, but I basically said"},{"speaker":"Nick Lincoln","startTime":3373.73,"endTime":3376.21,"body":"we will, we will move your all"},{"speaker":"Nick Lincoln","startTime":3373.73,"endTime":3376.21,"body":"your portfolios into cash. Cash,"},{"speaker":"Nick Lincoln","startTime":3377.74,"endTime":3380.71,"body":"just so you know, and I thought"},{"speaker":"Nick Lincoln","startTime":3377.74,"endTime":3380.71,"body":"I'll just feed my client"},{"speaker":"Nick Lincoln","startTime":3380.77,"endTime":3384.49,"body":"agreement into, into AI again,"},{"speaker":"Nick Lincoln","startTime":3380.77,"endTime":3384.49,"body":"so I use Saturn and Gemini, just"},{"speaker":"Nick Lincoln","startTime":3384.52,"endTime":3386.7999999999997,"body":"I said, said to just go through"},{"speaker":"Nick Lincoln","startTime":3384.52,"endTime":3386.7999999999997,"body":"my client, we've never looked"},{"speaker":"Nick Lincoln","startTime":3386.7999999999997,"endTime":3389.38,"body":"for anything that's that could"},{"speaker":"Nick Lincoln","startTime":3386.7999999999997,"endTime":3389.38,"body":"be a red flag there with the"},{"speaker":"Nick Lincoln","startTime":3389.47,"endTime":3392.2,"body":"FCA, and it came out, everything"},{"speaker":"Nick Lincoln","startTime":3389.47,"endTime":3392.2,"body":"was fine, but it picked up on"},{"speaker":"Nick Lincoln","startTime":3392.23,"endTime":3394.48,"body":"this, this paragraph I just"},{"speaker":"Nick Lincoln","startTime":3392.23,"endTime":3394.48,"body":"added that said, you cannot do"},{"speaker":"Nick Lincoln","startTime":3394.5699999999997,"endTime":3397.95,"body":"that, you categorically cannot"},{"speaker":"Nick Lincoln","startTime":3394.5699999999997,"endTime":3397.95,"body":"do that, the client is dead. You"},{"speaker":"Nick Lincoln","startTime":3398.04,"endTime":3400.89,"body":"cannot then act upon that"},{"speaker":"Nick Lincoln","startTime":3398.04,"endTime":3400.89,"body":"client's portfolio, no matter"},{"speaker":"Nick Lincoln","startTime":3400.92,"endTime":3403.47,"body":"what we might think we'd like to"},{"speaker":"Nick Lincoln","startTime":3400.92,"endTime":3403.47,"body":"do. You cannot do that. And then"},{"speaker":"Nick Lincoln","startTime":3403.5299999999997,"endTime":3406.41,"body":"last week I had my annual"},{"speaker":"Nick Lincoln","startTime":3403.5299999999997,"endTime":3406.41,"body":"compliance meeting with Rob from"},{"speaker":"Nick Lincoln","startTime":3406.5,"endTime":3408.72,"body":"the Compliance Department, and"},{"speaker":"Nick Lincoln","startTime":3406.5,"endTime":3408.72,"body":"I, you know, came - it was all"},{"speaker":"Nick Lincoln","startTime":3408.81,"endTime":3410.3399999999997,"body":"perfectly fine. And I was"},{"speaker":"Nick Lincoln","startTime":3408.81,"endTime":3410.3399999999997,"body":"talking to him about, he said,"},{"speaker":"Nick Lincoln","startTime":3410.49,"endTime":3413.25,"body":"'You cannot do that. And he"},{"speaker":"Nick Lincoln","startTime":3410.49,"endTime":3413.25,"body":"said, 'Also, you should, you"},{"speaker":"Nick Lincoln","startTime":3413.2799999999997,"endTime":3416.0699999999997,"body":"know, you need to add a thing to"},{"speaker":"Nick Lincoln","startTime":3413.2799999999997,"endTime":3416.0699999999997,"body":"your client agreement about what"},{"speaker":"Nick Lincoln","startTime":3416.0699999999997,"endTime":3418.3399999999997,"body":"happens on death in respect of"},{"speaker":"Nick Lincoln","startTime":3416.0699999999997,"endTime":3418.3399999999997,"body":"fees. So I'm going to quickly"},{"speaker":"Nick Lincoln","startTime":3418.4,"endTime":3420.92,"body":"read this paragraph out. So now,"},{"speaker":"Nick Lincoln","startTime":3418.4,"endTime":3420.92,"body":"out of the new section, what"},{"speaker":"Nick Lincoln","startTime":3420.92,"endTime":3424.4,"body":"happens on death following the"},{"speaker":"Nick Lincoln","startTime":3420.92,"endTime":3424.4,"body":"death of a client? Any ongoing"},{"speaker":"Nick Lincoln","startTime":3424.49,"endTime":3427.73,"body":"authority to act ceases. We may"},{"speaker":"Nick Lincoln","startTime":3424.49,"endTime":3427.73,"body":"continue to provide services to"},{"speaker":"Nick Lincoln","startTime":3427.91,"endTime":3430.85,"body":"the executives, administrators,"},{"speaker":"Nick Lincoln","startTime":3427.91,"endTime":3430.85,"body":"trustees, or beneficiaries only"},{"speaker":"Nick Lincoln","startTime":3430.97,"endTime":3433.1,"body":"where we have received the"},{"speaker":"Nick Lincoln","startTime":3430.97,"endTime":3433.1,"body":"necessary authority and agreed"},{"speaker":"Nick Lincoln","startTime":3433.19,"endTime":3435.74,"body":"terms of engagement. Any fees"},{"speaker":"Nick Lincoln","startTime":3433.19,"endTime":3435.74,"body":"for such services will be"},{"speaker":"Nick Lincoln","startTime":3435.89,"endTime":3437.98,"body":"charged in accordance with our"},{"speaker":"Nick Lincoln","startTime":3435.89,"endTime":3437.98,"body":"current tariffs of charges, blah"},{"speaker":"Nick Lincoln","startTime":3438.04,"endTime":3441.73,"body":"blah blah. On being notified of"},{"speaker":"Nick Lincoln","startTime":3438.04,"endTime":3441.73,"body":"a client's death, the firm will"},{"speaker":"Nick Lincoln","startTime":3441.8199999999997,"endTime":3444.19,"body":"contact the executives or"},{"speaker":"Nick Lincoln","startTime":3441.8199999999997,"endTime":3444.19,"body":"administrators to agree the next"},{"speaker":"Nick Lincoln","startTime":3444.19,"endTime":3447.22,"body":"steps, which may include moving"},{"speaker":"Nick Lincoln","startTime":3444.19,"endTime":3447.22,"body":"assets to cash, where that is"},{"speaker":"Nick Lincoln","startTime":3447.25,"endTime":3450.25,"body":"agreed to be in the interests of"},{"speaker":"Nick Lincoln","startTime":3447.25,"endTime":3450.25,"body":"the estate. The ongoing client"},{"speaker":"Nick Lincoln","startTime":3450.31,"endTime":3453.7,"body":"care program fee, see below,"},{"speaker":"Nick Lincoln","startTime":3450.31,"endTime":3453.7,"body":"ceases from the date the firm is"},{"speaker":"Nick Lincoln","startTime":3453.73,"endTime":3455.65,"body":"notified of the client's death."},{"speaker":"Nick Lincoln","startTime":3453.73,"endTime":3455.65,"body":"Now, I know, Carl, you're gonna,"},{"speaker":"Nick Lincoln","startTime":3455.77,"endTime":3458.46,"body":"this is gonna raise your"},{"speaker":"Nick Lincoln","startTime":3455.77,"endTime":3458.46,"body":"heckles, but again, it's saying"},{"speaker":"Nick Lincoln","startTime":3458.49,"endTime":3462.72,"body":"you cannot be charging ongoing"},{"speaker":"Nick Lincoln","startTime":3458.49,"endTime":3462.72,"body":"fees, it just cannot do it, and"},{"speaker":"Nick Lincoln","startTime":3462.72,"endTime":3464.8199999999997,"body":"that's that. So I put that, my,"},{"speaker":"Nick Lincoln","startTime":3462.72,"endTime":3464.8199999999997,"body":"in my letter, that just nail"},{"speaker":"Nick Lincoln","startTime":3464.88,"endTime":3468.72,"body":"things, and you can't switch to"},{"speaker":"Nick Lincoln","startTime":3464.88,"endTime":3468.72,"body":"cash unilaterally, you can,"},{"speaker":"Andy Hart","startTime":3469.41,"endTime":3470.91,"body":"you can, if you speak"},{"speaker":"Andy Hart","startTime":3469.41,"endTime":3470.91,"body":"to the executors, yeah,"},{"speaker":"Nick Lincoln","startTime":3471.5699999999997,"endTime":3472.41,"body":"yeah, you know,"},{"speaker":"Nick Lincoln","startTime":3471.5699999999997,"endTime":3472.41,"body":"actually, you've got to be"},{"speaker":"Nick Lincoln","startTime":3472.5,"endTime":3473.0099999999998,"body":"appointed,"},{"speaker":"Alan Smith","startTime":3473.79,"endTime":3474.81,"body":"executors got to a"},{"speaker":"Alan Smith","startTime":3473.79,"endTime":3474.81,"body":"point"},{"speaker":"Nick Lincoln","startTime":3476.64,"endTime":3478.0099999999998,"body":"that could take"},{"speaker":"Nick Lincoln","startTime":3476.64,"endTime":3478.0099999999998,"body":"weeks and months, couldn't scoot"},{"speaker":"Nick Lincoln","startTime":3478.22,"endTime":3480.5,"body":"into that months, you know. So,"},{"speaker":"Nick Lincoln","startTime":3478.22,"endTime":3480.5,"body":"yeah, but that's"},{"speaker":"Alan Smith","startTime":3482.0899999999997,"endTime":3483.8599999999997,"body":"you might have to"},{"speaker":"Alan Smith","startTime":3482.0899999999997,"endTime":3483.8599999999997,"body":"change your practices, Andrew."},{"speaker":"Alan Smith","startTime":3485.0299999999997,"endTime":3485.21,"body":"Sorry,"},{"speaker":"Andy Hart","startTime":3485.48,"endTime":3487.04,"body":"I always speak to the"},{"speaker":"Andy Hart","startTime":3485.48,"endTime":3487.04,"body":"executives, I will speak to the"},{"speaker":"Andy Hart","startTime":3487.16,"endTime":3490.5499999999997,"body":"person that's gonna be receiving"},{"speaker":"Andy Hart","startTime":3487.16,"endTime":3490.5499999999997,"body":"it. So, there's anyway, my final"},{"speaker":"Andy Hart","startTime":3490.6099999999997,"endTime":3492.92,"body":"point on this was the lawyers,"},{"speaker":"Andy Hart","startTime":3490.6099999999997,"endTime":3492.92,"body":"because I've gone through this"},{"speaker":"Andy Hart","startTime":3492.98,"endTime":3495.95,"body":"recently, went through it this"},{"speaker":"Andy Hart","startTime":3492.98,"endTime":3495.95,"body":"year and last year. The lawyers"},{"speaker":"Andy Hart","startTime":3496.0099999999998,"endTime":3498.2799999999997,"body":"just want to know the value of"},{"speaker":"Andy Hart","startTime":3496.0099999999998,"endTime":3498.2799999999997,"body":"everything on the date of death,"},{"speaker":"Andy Hart","startTime":3499.0299999999997,"endTime":3501.46,"body":"that is what everything gets"},{"speaker":"Andy Hart","startTime":3499.0299999999997,"endTime":3501.46,"body":"pinned to, which again is"},{"speaker":"Andy Hart","startTime":3501.91,"endTime":3505.93,"body":"another reason why I don't want"},{"speaker":"Andy Hart","startTime":3501.91,"endTime":3505.93,"body":"any fluctuations with that. Tell"},{"speaker":"Andy Hart","startTime":3505.93,"endTime":3508.0299999999997,"body":"us the evaluation on the date of"},{"speaker":"Andy Hart","startTime":3505.93,"endTime":3508.0299999999997,"body":"death for all of the stuff that"},{"speaker":"Andy Hart","startTime":3508.0299999999997,"endTime":3511.27,"body":"you look after for them. They"},{"speaker":"Andy Hart","startTime":3508.0299999999997,"endTime":3511.27,"body":"then put that into their, you"},{"speaker":"Andy Hart","startTime":3511.2999999999997,"endTime":3515.35,"body":"know, into their advice, and"},{"speaker":"Andy Hart","startTime":3511.2999999999997,"endTime":3515.35,"body":"then that then gets spat out to"},{"speaker":"Andy Hart","startTime":3516.1,"endTime":3518.43,"body":"the various people that will be"},{"speaker":"Andy Hart","startTime":3516.1,"endTime":3518.43,"body":"receiving the assets, so yeah,"},{"speaker":"Andy Hart","startTime":3518.91,"endTime":3520.56,"body":"thanks for doing that, Nick."},{"speaker":"Andy Hart","startTime":3518.91,"endTime":3520.56,"body":"That's, that's interesting. I'll"},{"speaker":"Andy Hart","startTime":3520.5899999999997,"endTime":3524.37,"body":"take a look, but yeah, another"},{"speaker":"Andy Hart","startTime":3520.5899999999997,"endTime":3524.37,"body":"point for not wanting investment"},{"speaker":"Andy Hart","startTime":3524.37,"endTime":3528.81,"body":"volatility is the lawyer only"},{"speaker":"Andy Hart","startTime":3524.37,"endTime":3528.81,"body":"cares about what is the value on"},{"speaker":"Andy Hart","startTime":3529.08,"endTime":3533.5499999999997,"body":"Thursday, the 30th of October,"},{"speaker":"Andy Hart","startTime":3529.08,"endTime":3533.5499999999997,"body":"whatever that date is. Okay,"},{"speaker":"Nick Lincoln","startTime":3534.18,"endTime":3537.56,"body":"yeah, yeah, and"},{"speaker":"Nick Lincoln","startTime":3534.18,"endTime":3537.56,"body":"you know, and I, if you know me,"},{"speaker":"Nick Lincoln","startTime":3537.56,"endTime":3539.54,"body":"I'm not a big fan of"},{"speaker":"Nick Lincoln","startTime":3537.56,"endTime":3539.54,"body":"legislation, but if there was to"},{"speaker":"Nick Lincoln","startTime":3539.54,"endTime":3542.42,"body":"be one bit legislation the FCA"},{"speaker":"Nick Lincoln","startTime":3539.54,"endTime":3542.42,"body":"did bring in and said, yes, you"},{"speaker":"Nick Lincoln","startTime":3542.45,"endTime":3544.85,"body":"are mad, you must switch to cash"},{"speaker":"Nick Lincoln","startTime":3542.45,"endTime":3544.85,"body":"on death, I'd be, yes, thank"},{"speaker":"Nick Lincoln","startTime":3544.94,"endTime":3547.8199999999997,"body":"you, thank you, thank you, thank"},{"speaker":"Nick Lincoln","startTime":3544.94,"endTime":3547.8199999999997,"body":"you, but we can't, right,"},{"speaker":"Nick Lincoln","startTime":3549.98,"endTime":3550.4,"body":"Andrew,"},{"speaker":"Andy Hart","startTime":3551.8399999999997,"endTime":3554.42,"body":"yeah, this is a brief"},{"speaker":"Andy Hart","startTime":3551.8399999999997,"endTime":3554.42,"body":"story, just a bit of a heads up,"},{"speaker":"Andy Hart","startTime":3554.5099999999998,"endTime":3557.7999999999997,"body":"I suppose, people listening to"},{"speaker":"Andy Hart","startTime":3554.5099999999998,"endTime":3557.7999999999997,"body":"this good friend of the show,"},{"speaker":"Andy Hart","startTime":3558.49,"endTime":3564.49,"body":"who listens to this show, he'll"},{"speaker":"Andy Hart","startTime":3558.49,"endTime":3564.49,"body":"go by the name of Foz. He"},{"speaker":"Andy Hart","startTime":3564.8199999999997,"endTime":3567.8199999999997,"body":"basically has recently gone"},{"speaker":"Andy Hart","startTime":3564.8199999999997,"endTime":3567.8199999999997,"body":"directly authorized, so I'm"},{"speaker":"Andy Hart","startTime":3567.85,"endTime":3570.31,"body":"calling him Foz, that's his"},{"speaker":"Andy Hart","startTime":3567.85,"endTime":3570.31,"body":"nickname. We all know him,"},{"speaker":"Andy Hart","startTime":3570.67,"endTime":3572.98,"body":"sorry, we all know him, apart"},{"speaker":"Andy Hart","startTime":3570.67,"endTime":3572.98,"body":"from Carl on the show. He's been"},{"speaker":"Andy Hart","startTime":3573.04,"endTime":3577.17,"body":"advising at least 30 years, and"},{"speaker":"Andy Hart","startTime":3573.04,"endTime":3577.17,"body":"he's a really decent advisor,"},{"speaker":"Andy Hart","startTime":3577.2599999999998,"endTime":3580.2,"body":"you know, he's worked at a very"},{"speaker":"Andy Hart","startTime":3577.2599999999998,"endTime":3580.2,"body":"large London firm, you know, top"},{"speaker":"Andy Hart","startTime":3580.29,"endTime":3583.68,"body":"of his game, managing people."},{"speaker":"Andy Hart","startTime":3580.29,"endTime":3583.68,"body":"He's very smart on regulation"},{"speaker":"Andy Hart","startTime":3583.8599999999997,"endTime":3586.62,"body":"teams, super client focused,"},{"speaker":"Andy Hart","startTime":3583.8599999999997,"endTime":3586.62,"body":"great financial planner, knows"},{"speaker":"Andy Hart","startTime":3586.68,"endTime":3590.13,"body":"about investing, blah blah blah."},{"speaker":"Andy Hart","startTime":3586.68,"endTime":3590.13,"body":"He went out on his own, probably"},{"speaker":"Andy Hart","startTime":3590.16,"endTime":3592.7999999999997,"body":"about seven or eight years ago,"},{"speaker":"Andy Hart","startTime":3590.16,"endTime":3592.7999999999997,"body":"I could get the timing wrong,"},{"speaker":"Andy Hart","startTime":3593.0699999999997,"endTime":3595.23,"body":"and he was an AR, so he worked"},{"speaker":"Andy Hart","startTime":3593.0699999999997,"endTime":3595.23,"body":"underneath another friend of"},{"speaker":"Andy Hart","startTime":3595.3199999999997,"endTime":3598.37,"body":"ours, and then over the last"},{"speaker":"Andy Hart","startTime":3595.3199999999997,"endTime":3598.37,"body":"sort of year, 18 months, he"},{"speaker":"Andy Hart","startTime":3598.46,"endTime":3601.3399999999997,"body":"decided to go directly"},{"speaker":"Andy Hart","startTime":3598.46,"endTime":3601.3399999999997,"body":"authorized. Now, if there was"},{"speaker":"Andy Hart","startTime":3601.4,"endTime":3605.12,"body":"ever a candidate, a poster boy,"},{"speaker":"Andy Hart","startTime":3601.4,"endTime":3605.12,"body":"post a person for the perfect"},{"speaker":"Andy Hart","startTime":3605.15,"endTime":3606.7999999999997,"body":"person to go directly"},{"speaker":"Andy Hart","startTime":3605.15,"endTime":3606.7999999999997,"body":"authorized, and it should be as"},{"speaker":"Andy Hart","startTime":3606.83,"endTime":3611.27,"body":"smooth as possible, you know,"},{"speaker":"Andy Hart","startTime":3606.83,"endTime":3611.27,"body":"it's, it's false, basically. And"},{"speaker":"Andy Hart","startTime":3611.2999999999997,"endTime":3614.5099999999998,"body":"on a recent little gathering"},{"speaker":"Andy Hart","startTime":3611.2999999999997,"endTime":3614.5099999999998,"body":"that me and Alan Marat, he sort"},{"speaker":"Andy Hart","startTime":3614.5699999999997,"endTime":3617.23,"body":"of shared a few of the stories"},{"speaker":"Andy Hart","startTime":3614.5699999999997,"endTime":3617.23,"body":"about going directly authorized,"},{"speaker":"Andy Hart","startTime":3617.3199999999997,"endTime":3622.5699999999997,"body":"and it sounded quite arduous and"},{"speaker":"Andy Hart","startTime":3617.3199999999997,"endTime":3622.5699999999997,"body":"quite painful, and a lot of the"},{"speaker":"Andy Hart","startTime":3622.5699999999997,"endTime":3624.49,"body":"things he thought they were"},{"speaker":"Andy Hart","startTime":3622.5699999999997,"endTime":3624.49,"body":"going to focus on they didn't,"},{"speaker":"Andy Hart","startTime":3624.58,"endTime":3626.3199999999997,"body":"and they picked him up on loads"},{"speaker":"Andy Hart","startTime":3624.58,"endTime":3626.3199999999997,"body":"of stuff that he didn't think"},{"speaker":"Andy Hart","startTime":3626.5899999999997,"endTime":3629.23,"body":"they were going to question, and"},{"speaker":"Andy Hart","startTime":3626.5899999999997,"endTime":3629.23,"body":"bearing in mind he's got a"},{"speaker":"Andy Hart","startTime":3629.3199999999997,"endTime":3632.08,"body":"mature client bank, mature"},{"speaker":"Andy Hart","startTime":3629.3199999999997,"endTime":3632.08,"body":"revenue, been in the business"},{"speaker":"Andy Hart","startTime":3632.2599999999998,"endTime":3638.73,"body":"ages, and it was quite a tricky"},{"speaker":"Andy Hart","startTime":3632.2599999999998,"endTime":3638.73,"body":"challenge for him to do it, he"},{"speaker":"Andy Hart","startTime":3638.8199999999997,"endTime":3641.91,"body":"finally did do it, and he's got"},{"speaker":"Andy Hart","startTime":3638.8199999999997,"endTime":3641.91,"body":"through, but also I think"},{"speaker":"Andy Hart","startTime":3641.91,"endTime":3644.79,"body":"there's a few more checkpoints"},{"speaker":"Andy Hart","startTime":3641.91,"endTime":3644.79,"body":"they want once he becomes"},{"speaker":"Andy Hart","startTime":3644.91,"endTime":3647.1,"body":"directly authorized. Six months'"},{"speaker":"Andy Hart","startTime":3644.91,"endTime":3647.1,"body":"time he needs to say that he's"},{"speaker":"Andy Hart","startTime":3647.19,"endTime":3649.56,"body":"adhere to the business plan"},{"speaker":"Andy Hart","startTime":3647.19,"endTime":3649.56,"body":"that's been agreed, then a year"},{"speaker":"Andy Hart","startTime":3649.62,"endTime":3653.7599999999998,"body":"down the line. So it's not a, I"},{"speaker":"Andy Hart","startTime":3649.62,"endTime":3653.7599999999998,"body":"suppose it's a word of caution."},{"speaker":"Andy Hart","startTime":3654.3599999999997,"endTime":3659.18,"body":"Going directly authorized is a"},{"speaker":"Andy Hart","startTime":3654.3599999999997,"endTime":3659.18,"body":"goal for a lot of people, a lot"},{"speaker":"Andy Hart","startTime":3659.21,"endTime":3662.33,"body":"of teams, a lot of individuals,"},{"speaker":"Andy Hart","startTime":3659.21,"endTime":3662.33,"body":"but yeah, you certainly have to"},{"speaker":"Andy Hart","startTime":3662.39,"endTime":3666.68,"body":"have your, your ducks in a row,"},{"speaker":"Andy Hart","startTime":3662.39,"endTime":3666.68,"body":"that's why a lot of these"},{"speaker":"Andy Hart","startTime":3666.89,"endTime":3672.95,"body":"networks have grown valid path"},{"speaker":"Andy Hart","startTime":3666.89,"endTime":3672.95,"body":"has grown so large in the last"},{"speaker":"Andy Hart","startTime":3672.98,"endTime":3677.1099999999997,"body":"few years, and also scents, and"},{"speaker":"Andy Hart","startTime":3672.98,"endTime":3677.1099999999997,"body":"also new leafs. So there is"},{"speaker":"Andy Hart","startTime":3677.17,"endTime":3680.1099999999997,"body":"stepping stones to get directly"},{"speaker":"Andy Hart","startTime":3677.17,"endTime":3680.1099999999997,"body":"authorized, but yeah, I thought"},{"speaker":"Andy Hart","startTime":3680.14,"endTime":3683.5299999999997,"body":"I'd mentioned his, his, his"},{"speaker":"Andy Hart","startTime":3680.14,"endTime":3683.5299999999997,"body":"story, and if anyone's thinking"},{"speaker":"Andy Hart","startTime":3683.56,"endTime":3686.92,"body":"about doing it, and maybe wants"},{"speaker":"Andy Hart","startTime":3683.56,"endTime":3686.92,"body":"to speak to Fars, I'm sure we'll"},{"speaker":"Andy Hart","startTime":3686.98,"endTime":3691.12,"body":"be open to having that"},{"speaker":"Andy Hart","startTime":3686.98,"endTime":3691.12,"body":"conversation with you. So that's"},{"speaker":"Andy Hart","startTime":3692.5,"endTime":3693.3399999999997,"body":"all they could buy our"},{"speaker":"Nick Lincoln","startTime":3693.4,"endTime":3695.14,"body":"businesses, they"},{"speaker":"Nick Lincoln","startTime":3693.4,"endTime":3695.14,"body":"could buy our squeaky clean"},{"speaker":"Nick Lincoln","startTime":3695.23,"endTime":3697.5899999999997,"body":"directly authorized businesses,"},{"speaker":"Nick Lincoln","startTime":3695.23,"endTime":3697.5899999999997,"body":"can't they? Oh, yes,"},{"speaker":"Andy Hart","startTime":3697.77,"endTime":3699.63,"body":"that's the potential"},{"speaker":"Andy Hart","startTime":3697.77,"endTime":3699.63,"body":"of the cards."},{"speaker":"Alan Smith","startTime":3700.41,"endTime":3704.31,"body":"Yes, I remember the"},{"speaker":"Alan Smith","startTime":3700.41,"endTime":3704.31,"body":"conversation. I was, I wasn't"},{"speaker":"Alan Smith","startTime":3704.37,"endTime":3707.3399999999997,"body":"surprised that it's difficult to"},{"speaker":"Alan Smith","startTime":3704.37,"endTime":3707.3399999999997,"body":"get directly authorized. We know"},{"speaker":"Alan Smith","startTime":3707.49,"endTime":3710.04,"body":"already that it is. We know a"},{"speaker":"Alan Smith","startTime":3707.49,"endTime":3710.04,"body":"few other people who have tried"},{"speaker":"Alan Smith","startTime":3710.13,"endTime":3713.94,"body":"and unfortunately didn't"},{"speaker":"Alan Smith","startTime":3710.13,"endTime":3713.94,"body":"succeed, but it's the ongoing I"},{"speaker":"Alan Smith","startTime":3714.06,"endTime":3718.31,"body":"thought was just really.. I"},{"speaker":"Alan Smith","startTime":3714.06,"endTime":3718.31,"body":"mean, all right, taking a step"},{"speaker":"Alan Smith","startTime":3718.64,"endTime":3721.46,"body":"back from all this, it's good,"},{"speaker":"Alan Smith","startTime":3718.64,"endTime":3721.46,"body":"it's positive, it reduces the"},{"speaker":"Alan Smith","startTime":3721.58,"endTime":3724.94,"body":"number of sharks and cowboys in"},{"speaker":"Alan Smith","startTime":3721.58,"endTime":3724.94,"body":"our game who just able to very"},{"speaker":"Alan Smith","startTime":3725.12,"endTime":3729.2599999999998,"body":"much so get directly authorized."},{"speaker":"Alan Smith","startTime":3725.12,"endTime":3729.2599999999998,"body":"So, it's, you know, I guess from"},{"speaker":"Alan Smith","startTime":3729.29,"endTime":3732.8599999999997,"body":"an industry perspective, you'd"},{"speaker":"Alan Smith","startTime":3729.29,"endTime":3732.8599999999997,"body":"rather have some real detailed"},{"speaker":"Alan Smith","startTime":3732.89,"endTime":3735.41,"body":"due diligence than not, but as"},{"speaker":"Alan Smith","startTime":3732.89,"endTime":3735.41,"body":"you say, when you, when you know"},{"speaker":"Alan Smith","startTime":3735.5899999999997,"endTime":3739.48,"body":"someone like Foz, and he's just"},{"speaker":"Alan Smith","startTime":3735.5899999999997,"endTime":3739.48,"body":"like an absolute top guy, and it"},{"speaker":"Alan Smith","startTime":3739.5099999999998,"endTime":3741.97,"body":"just, you know, fully ethical,"},{"speaker":"Alan Smith","startTime":3739.5099999999998,"endTime":3741.97,"body":"and all the rest of it. It's"},{"speaker":"Alan Smith","startTime":3741.97,"endTime":3744.79,"body":"just ongoing, you can't just"},{"speaker":"Alan Smith","startTime":3741.97,"endTime":3744.79,"body":"deliver your business plan and"},{"speaker":"Alan Smith","startTime":3744.79,"endTime":3747.46,"body":"they say, right, you're"},{"speaker":"Alan Smith","startTime":3744.79,"endTime":3747.46,"body":"authorized, or even with loads"},{"speaker":"Alan Smith","startTime":3747.5499999999997,"endTime":3750.7,"body":"of, and he got a lot of support"},{"speaker":"Alan Smith","startTime":3747.5499999999997,"endTime":3750.7,"body":"from, you know, from compliance"},{"speaker":"Alan Smith","startTime":3750.7599999999998,"endTime":3754.12,"body":"people and stuff to submit his"},{"speaker":"Alan Smith","startTime":3750.7599999999998,"endTime":3754.12,"body":"application ongoing, but it's"},{"speaker":"Alan Smith","startTime":3754.27,"endTime":3756.7799999999997,"body":"the fact that they're going to"},{"speaker":"Alan Smith","startTime":3754.27,"endTime":3756.7799999999997,"body":"be continuing to very closely"},{"speaker":"Alan Smith","startTime":3756.9,"endTime":3760.47,"body":"monitor him for I think for"},{"speaker":"Alan Smith","startTime":3756.9,"endTime":3760.47,"body":"several years post directly"},{"speaker":"Alan Smith","startTime":3760.5299999999997,"endTime":3761.1,"body":"authorization he"},{"speaker":"Andy Hart","startTime":3761.13,"endTime":3764.0099999999998,"body":"was quite fortunate"},{"speaker":"Andy Hart","startTime":3761.13,"endTime":3764.0099999999998,"body":"he worked at another firm so it"},{"speaker":"Andy Hart","startTime":3764.0699999999997,"endTime":3767.8199999999997,"body":"didn't quite matter that it took"},{"speaker":"Andy Hart","startTime":3764.0699999999997,"endTime":3767.8199999999997,"body":"a long time but if you were had"},{"speaker":"Andy Hart","startTime":3767.97,"endTime":3772.38,"body":"left a firm and your you know"},{"speaker":"Andy Hart","startTime":3767.97,"endTime":3772.38,"body":"entire financial future career"},{"speaker":"Andy Hart","startTime":3772.56,"endTime":3775.2599999999998,"body":"income depends on getting"},{"speaker":"Andy Hart","startTime":3772.56,"endTime":3775.2599999999998,"body":"authorized and they're you know"},{"speaker":"Andy Hart","startTime":3775.35,"endTime":3778.49,"body":"getting you to jump through"},{"speaker":"Andy Hart","startTime":3775.35,"endTime":3778.49,"body":"necessary hoops, and it just"},{"speaker":"Andy Hart","startTime":3778.52,"endTime":3782.0,"body":"taken ages. I'm sure you'll be a"},{"speaker":"Andy Hart","startTime":3778.52,"endTime":3782.0,"body":"lot more stressed out about it."},{"speaker":"Andy Hart","startTime":3782.0899999999997,"endTime":3785.66,"body":"So, he was less stressed, but if"},{"speaker":"Andy Hart","startTime":3782.0899999999997,"endTime":3785.66,"body":"it's taken him, who's, you know,"},{"speaker":"Andy Hart","startTime":3785.8399999999997,"endTime":3789.2599999999998,"body":"top, top, top advisor, that"},{"speaker":"Andy Hart","startTime":3785.8399999999997,"endTime":3789.2599999999998,"body":"long, that much did they not"},{"speaker":"Nick Lincoln","startTime":3789.29,"endTime":3791.5099999999998,"body":"make any"},{"speaker":"Nick Lincoln","startTime":3789.29,"endTime":3791.5099999999998,"body":"allowances for Fozzie's career?"},{"speaker":"Nick Lincoln","startTime":3791.7799999999997,"endTime":3793.37,"body":"I mean, that's sort of, that's"},{"speaker":"Nick Lincoln","startTime":3791.7799999999997,"endTime":3793.37,"body":"the body of evidence that we're"},{"speaker":"Nick Lincoln","startTime":3793.4,"endTime":3794.48,"body":"just, that's maybe,"},{"speaker":"Andy Hart","startTime":3794.96,"endTime":3796.8399999999997,"body":"maybe not Nick, you"},{"speaker":"Andy Hart","startTime":3794.96,"endTime":3796.8399999999997,"body":"know, they might have just"},{"speaker":"Andy Hart","startTime":3796.87,"endTime":3801.91,"body":"treated it like any other"},{"speaker":"Andy Hart","startTime":3796.87,"endTime":3801.91,"body":"application, these boxes around"},{"speaker":"Andy Hart","startTime":3801.91,"endTime":3802.8399999999997,"body":"your advisor, but yeah,"},{"speaker":"Alan Smith","startTime":3803.439,"endTime":3805.569,"body":"but the regulatory"},{"speaker":"Alan Smith","startTime":3803.439,"endTime":3805.569,"body":"environment changed quite"},{"speaker":"Alan Smith","startTime":3805.629,"endTime":3808.269,"body":"dramatically a few years ago,"},{"speaker":"Alan Smith","startTime":3805.629,"endTime":3808.269,"body":"when you had RDR, then you've"},{"speaker":"Alan Smith","startTime":3808.299,"endTime":3813.189,"body":"had subsequent legislation since"},{"speaker":"Alan Smith","startTime":3808.299,"endTime":3813.189,"body":"then, senior managers regime is"},{"speaker":"Alan Smith","startTime":3813.429,"endTime":3818.189,"body":"the big one, and either you know"},{"speaker":"Alan Smith","startTime":3813.429,"endTime":3818.189,"body":"it or not, we've all got the"},{"speaker":"Alan Smith","startTime":3818.189,"endTime":3823.319,"body":"same functions as, like, the CEO"},{"speaker":"Alan Smith","startTime":3818.189,"endTime":3823.319,"body":"of Barclays, for example. That's"},{"speaker":"Alan Smith","startTime":3823.379,"endTime":3825.989,"body":"what a compliance person told"},{"speaker":"Alan Smith","startTime":3823.379,"endTime":3825.989,"body":"me. You, we are all judged at"},{"speaker":"Alan Smith","startTime":3826.049,"endTime":3829.169,"body":"the same level, so unless you've"},{"speaker":"Alan Smith","startTime":3826.049,"endTime":3829.169,"body":"got sufficient experience,"},{"speaker":"Alan Smith","startTime":3829.259,"endTime":3833.399,"body":"knowledge, resources, access to"},{"speaker":"Alan Smith","startTime":3829.259,"endTime":3833.399,"body":"information, and I think that's"},{"speaker":"Alan Smith","startTime":3833.489,"endTime":3836.989,"body":"where people do fall down,"},{"speaker":"Alan Smith","startTime":3833.489,"endTime":3836.989,"body":"because you get interviewed by a"},{"speaker":"Alan Smith","startTime":3837.0789999999997,"endTime":3840.919,"body":"panel of the regulators of the"},{"speaker":"Alan Smith","startTime":3837.0789999999997,"endTime":3840.919,"body":"FCA, you get interviewed, and"},{"speaker":"Alan Smith","startTime":3840.949,"endTime":3842.899,"body":"it's, you know, it's a live"},{"speaker":"Alan Smith","startTime":3840.949,"endTime":3842.899,"body":"interview, and they ask you lots"},{"speaker":"Alan Smith","startTime":3842.929,"endTime":3845.569,"body":"of questions. What are you doing"},{"speaker":"Alan Smith","startTime":3842.929,"endTime":3845.569,"body":"about your CF this, and you did"},{"speaker":"Alan Smith","startTime":3845.629,"endTime":3848.3289999999997,"body":"it to that? You really have to"},{"speaker":"Alan Smith","startTime":3845.629,"endTime":3848.3289999999997,"body":"know your stuff, even though in"},{"speaker":"Alan Smith","startTime":3848.419,"endTime":3852.649,"body":"reality most of us rely upon"},{"speaker":"Alan Smith","startTime":3848.419,"endTime":3852.649,"body":"external or internal compliance"},{"speaker":"Alan Smith","startTime":3853.009,"endTime":3856.659,"body":"support, but that's that is that"},{"speaker":"Alan Smith","startTime":3853.009,"endTime":3856.659,"body":"it's a very high bar now to get"},{"speaker":"Alan Smith","startTime":3856.659,"endTime":3860.049,"body":"directly authorized, but it's as"},{"speaker":"Alan Smith","startTime":3856.659,"endTime":3860.049,"body":"I say, it's not just getting"},{"speaker":"Alan Smith","startTime":3860.0789999999997,"endTime":3863.0789999999997,"body":"across the line, it's the"},{"speaker":"Alan Smith","startTime":3860.0789999999997,"endTime":3863.0789999999997,"body":"ongoing highly, you know, very,"},{"speaker":"Alan Smith","startTime":3863.319,"endTime":3867.5789999999997,"body":"very close monitoring for years"},{"speaker":"Alan Smith","startTime":3863.319,"endTime":3867.5789999999997,"body":"afterwards. So, yeah, it's good"},{"speaker":"Alan Smith","startTime":3867.6389999999997,"endTime":3868.149,"body":"story, Andrew."},{"speaker":"Nick Lincoln","startTime":3868.899,"endTime":3871.419,"body":"Yep, go on. Okay,"},{"speaker":"Nick Lincoln","startTime":3868.899,"endTime":3871.419,"body":"let's close this topical tidbit"},{"speaker":"Nick Lincoln","startTime":3871.449,"endTime":3874.209,"body":"section off of episode 100 with"},{"speaker":"Nick Lincoln","startTime":3871.449,"endTime":3874.209,"body":"you, mr. Wadja."},{"speaker":"Carl Widger","startTime":3876.2799999999997,"endTime":3879.0899999999997,"body":"No, I said leave"},{"speaker":"Carl Widger","startTime":3876.2799999999997,"endTime":3879.0899999999997,"body":"that one out, Nick. I did send"},{"speaker":"Carl Widger","startTime":3879.15,"endTime":3882.21,"body":"you a message, so we'll chat,"},{"speaker":"Carl Widger","startTime":3879.15,"endTime":3882.21,"body":"but he's not really watching."},{"speaker":"Carl Widger","startTime":3882.27,"endTime":3886.08,"body":"He's not really on his game"},{"speaker":"Carl Widger","startTime":3882.27,"endTime":3886.08,"body":"today. Very chosen,"},{"speaker":"Andy Hart","startTime":3887.52,"endTime":3887.7,"body":"sharp,"},{"speaker":"Nick Lincoln","startTime":3887.73,"endTime":3889.98,"body":"but didn't shop."},{"speaker":"Nick Lincoln","startTime":3887.73,"endTime":3889.98,"body":"Okay, right. Okay, in that case,"},{"speaker":"Nick Lincoln","startTime":3890.0099999999998,"endTime":3892.3199999999997,"body":"then we'll move. Well, listen,"},{"speaker":"Nick Lincoln","startTime":3890.0099999999998,"endTime":3892.3199999999997,"body":"we get 63 minutes. We've.."},{"speaker":"Nick Lincoln","startTime":3892.71,"endTime":3894.7799999999997,"body":"that's a.. I mean, to be honest,"},{"speaker":"Nick Lincoln","startTime":3892.71,"endTime":3894.7799999999997,"body":"that advisor happiness section"},{"speaker":"Nick Lincoln","startTime":3894.81,"endTime":3896.48,"body":"could have been unmeated"},{"speaker":"Nick Lincoln","startTime":3894.81,"endTime":3896.48,"body":"potatoes for today's show,"},{"speaker":"Nick Lincoln","startTime":3896.54,"endTime":3897.3199999999997,"body":"because that was it,"},{"speaker":"Andy Hart","startTime":3897.65,"endTime":3898.37,"body":"could have actually,"},{"speaker":"Andy Hart","startTime":3897.65,"endTime":3898.37,"body":"yeah,"},{"speaker":"Nick Lincoln","startTime":3900.74,"endTime":3903.2599999999998,"body":"but it wasn't, so"},{"speaker":"Nick Lincoln","startTime":3900.74,"endTime":3903.2599999999998,"body":"instead we will go on to our"},{"speaker":"Nick Lincoln","startTime":3903.3199999999997,"endTime":3906.83,"body":"meat and potatoes, and we'll"},{"speaker":"Nick Lincoln","startTime":3903.3199999999997,"endTime":3906.83,"body":"keep this quick if we can, guys,"},{"speaker":"Nick Lincoln","startTime":3906.89,"endTime":3909.89,"body":"because we're at 64 minutes, and"},{"speaker":"Nick Lincoln","startTime":3906.89,"endTime":3909.89,"body":"I've got a planning meeting to"},{"speaker":"Nick Lincoln","startTime":3909.89,"endTime":3912.38,"body":"go to after this, so, but we're"},{"speaker":"Nick Lincoln","startTime":3909.89,"endTime":3912.38,"body":"just gonna have a reflect, you"},{"speaker":"Nick Lincoln","startTime":3912.41,"endTime":3914.69,"body":"know, I'm not a big one for"},{"speaker":"Nick Lincoln","startTime":3912.41,"endTime":3914.69,"body":"these kind of things, but the"},{"speaker":"Nick Lincoln","startTime":3914.81,"endTime":3917.41,"body":"guys wanted to talk about the"},{"speaker":"Nick Lincoln","startTime":3914.81,"endTime":3917.41,"body":"fact we got to episode 100 and"},{"speaker":"Nick Lincoln","startTime":3917.41,"endTime":3919.54,"body":"just really the highlights of"},{"speaker":"Nick Lincoln","startTime":3917.41,"endTime":3919.54,"body":"our journey here. That's the"},{"speaker":"Nick Lincoln","startTime":3919.5699999999997,"endTime":3924.16,"body":"best part of four years of doing"},{"speaker":"Nick Lincoln","startTime":3919.5699999999997,"endTime":3924.16,"body":"knocking out this stuff on a"},{"speaker":"Nick Lincoln","startTime":3924.19,"endTime":3927.7599999999998,"body":"bi-weekly basis, and to pick"},{"speaker":"Nick Lincoln","startTime":3924.19,"endTime":3927.7599999999998,"body":"highlights, and to sort of think"},{"speaker":"Nick Lincoln","startTime":3927.79,"endTime":3930.4,"body":"about, I'm struggling with it."},{"speaker":"Nick Lincoln","startTime":3927.79,"endTime":3930.4,"body":"The whole thing has been"},{"speaker":"Nick Lincoln","startTime":3930.4,"endTime":3933.49,"body":"amazing. It's just like me, the"},{"speaker":"Nick Lincoln","startTime":3930.4,"endTime":3933.49,"body":"highlight is the whole thing."},{"speaker":"Nick Lincoln","startTime":3933.67,"endTime":3937.77,"body":"The trap is the highlight, it's"},{"speaker":"Nick Lincoln","startTime":3933.67,"endTime":3937.77,"body":"the community, it's working with"},{"speaker":"Nick Lincoln","startTime":3937.8599999999997,"endTime":3940.3199999999997,"body":"you guys. There's no particular"},{"speaker":"Nick Lincoln","startTime":3937.8599999999997,"endTime":3940.3199999999997,"body":"episode. I mean, all the SJP"},{"speaker":"Nick Lincoln","startTime":3940.44,"endTime":3945.06,"body":"ones did really well. The"},{"speaker":"Nick Lincoln","startTime":3940.44,"endTime":3945.06,"body":"Turkish Fire Alarm one is the"},{"speaker":"Nick Lincoln","startTime":3945.18,"endTime":3947.2799999999997,"body":"one I saw. So many people coming"},{"speaker":"Nick Lincoln","startTime":3945.18,"endTime":3947.2799999999997,"body":"in, saying, 'What's that noise"},{"speaker":"Nick Lincoln","startTime":3947.31,"endTime":3950.7,"body":"in the back? When I was driving"},{"speaker":"Nick Lincoln","startTime":3947.31,"endTime":3950.7,"body":"along, I heard the bloody alarm."},{"speaker":"Nick Lincoln","startTime":3952.0499999999997,"endTime":3952.14,"body":"For"},{"speaker":"Alan Smith","startTime":3952.739,"endTime":3956.189,"body":"those who didn't"},{"speaker":"Alan Smith","startTime":3952.739,"endTime":3956.189,"body":"hear, I did an episode from my"},{"speaker":"Alan Smith","startTime":3956.759,"endTime":3961.429,"body":"hotel room in Turkey, and there"},{"speaker":"Alan Smith","startTime":3956.759,"endTime":3961.429,"body":"was, it wasn't a fire alarm, it"},{"speaker":"Alan Smith","startTime":3961.459,"endTime":3964.669,"body":"was like a smoke detector whose"},{"speaker":"Alan Smith","startTime":3961.459,"endTime":3964.669,"body":"battery had run out. Yeah, does"},{"speaker":"Alan Smith","startTime":3964.7889999999998,"endTime":3969.319,"body":"that really annoying incessant"},{"speaker":"Alan Smith","startTime":3964.7889999999998,"endTime":3969.319,"body":"every 30 seconds, beep? And I do"},{"speaker":"Alan Smith","startTime":3969.409,"endTime":3971.659,"body":"remember there was there was one"},{"speaker":"Alan Smith","startTime":3969.409,"endTime":3971.659,"body":"guy just listening to it,"},{"speaker":"Alan Smith","startTime":3971.689,"endTime":3973.909,"body":"walking around his house,"},{"speaker":"Alan Smith","startTime":3971.689,"endTime":3973.909,"body":"checking all his smoke alarms,"},{"speaker":"Alan Smith","startTime":3974.269,"endTime":3976.0389999999998,"body":"what the hell, taking the"},{"speaker":"Alan Smith","startTime":3974.269,"endTime":3976.0389999999998,"body":"batteries up and."},{"speaker":"Carl Widger","startTime":3976.18,"endTime":3976.54,"body":"Back in"},{"speaker":"Andy Hart","startTime":3977.38,"endTime":3978.52,"body":"the thing that might"},{"speaker":"Andy Hart","startTime":3977.38,"endTime":3978.52,"body":"have been funny, if he was"},{"speaker":"Andy Hart","startTime":3978.58,"endTime":3980.41,"body":"listening to it in headphones,"},{"speaker":"Andy Hart","startTime":3978.58,"endTime":3980.41,"body":"that beat would have been"},{"speaker":"Andy Hart","startTime":3980.47,"endTime":3983.1099999999997,"body":"following him around, you know?"},{"speaker":"Andy Hart","startTime":3980.47,"endTime":3983.1099999999997,"body":"If the beat was in the kitchen"},{"speaker":"Andy Hart","startTime":3983.14,"endTime":3985.18,"body":"elector or something, you just.."},{"speaker":"Andy Hart","startTime":3983.14,"endTime":3985.18,"body":"you're like, \"Shit, it's in the"},{"speaker":"Andy Hart","startTime":3985.21,"endTime":3985.72,"body":"bathroom now."},{"speaker":"Nick Lincoln","startTime":3992.2599999999998,"endTime":3993.88,"body":"So, guys, well,"},{"speaker":"Nick Lincoln","startTime":3992.2599999999998,"endTime":3993.88,"body":"who wants to go? Who wants to"},{"speaker":"Nick Lincoln","startTime":3994.0899999999997,"endTime":3996.0099999999998,"body":"give their reflections on the"},{"speaker":"Nick Lincoln","startTime":3994.0899999999997,"endTime":3996.0099999999998,"body":"past near four years?"},{"speaker":"Alan Smith","startTime":3996.939,"endTime":3998.399,"body":"I'll just jump in"},{"speaker":"Alan Smith","startTime":3996.939,"endTime":3998.399,"body":"quickly, because you're right,"},{"speaker":"Alan Smith","startTime":3998.429,"endTime":4002.779,"body":"we're just.. we don't want to"},{"speaker":"Alan Smith","startTime":3998.429,"endTime":4002.779,"body":"indulge ourselves in this too"},{"speaker":"Alan Smith","startTime":4002.929,"endTime":4006.709,"body":"much and talk about it, but I've"},{"speaker":"Alan Smith","startTime":4002.929,"endTime":4006.709,"body":"really loved, and there's been a"},{"speaker":"Alan Smith","startTime":4006.859,"endTime":4010.0389999999998,"body":"lot of stories about this, but"},{"speaker":"Alan Smith","startTime":4006.859,"endTime":4010.0389999999998,"body":"I've really, really enjoyed the"},{"speaker":"Alan Smith","startTime":4010.3089999999997,"endTime":4013.489,"body":"opportunity. We seem like, and"},{"speaker":"Alan Smith","startTime":4010.3089999999997,"endTime":4013.489,"body":"you've just alluded to it, Nick,"},{"speaker":"Alan Smith","startTime":4014.149,"endTime":4017.439,"body":"it seems like this is a kind of"},{"speaker":"Alan Smith","startTime":4014.149,"endTime":4017.439,"body":"central community of people, and"},{"speaker":"Alan Smith","startTime":4017.499,"endTime":4019.719,"body":"some people are looking for"},{"speaker":"Alan Smith","startTime":4017.499,"endTime":4019.719,"body":"something, some people are"},{"speaker":"Alan Smith","startTime":4020.739,"endTime":4024.339,"body":"offering something, and the"},{"speaker":"Alan Smith","startTime":4020.739,"endTime":4024.339,"body":"classic example is finding, and"},{"speaker":"Alan Smith","startTime":4024.339,"endTime":4028.269,"body":"it kind of refers back to the"},{"speaker":"Alan Smith","startTime":4024.339,"endTime":4028.269,"body":"advisor happiness survey. What"},{"speaker":"Alan Smith","startTime":4028.269,"endTime":4031.149,"body":"has been determined through our"},{"speaker":"Alan Smith","startTime":4028.269,"endTime":4031.149,"body":"conversations, and we all get"},{"speaker":"Alan Smith","startTime":4031.299,"endTime":4035.409,"body":"lots of direct messages and"},{"speaker":"Alan Smith","startTime":4031.299,"endTime":4035.409,"body":"emails and contacts, is that"},{"speaker":"Alan Smith","startTime":4035.499,"endTime":4039.0589999999997,"body":"there are a there's advisors"},{"speaker":"Alan Smith","startTime":4035.499,"endTime":4039.0589999999997,"body":"working at firms that they don't"},{"speaker":"Alan Smith","startTime":4039.1189999999997,"endTime":4042.479,"body":"love working in, because the"},{"speaker":"Alan Smith","startTime":4039.1189999999997,"endTime":4042.479,"body":"advisors themselves are real"},{"speaker":"Alan Smith","startTime":4042.5989999999997,"endTime":4045.8689999999997,"body":"proponents of full fat financial"},{"speaker":"Alan Smith","startTime":4042.5989999999997,"endTime":4045.8689999999997,"body":"planning. They want to do the"},{"speaker":"Alan Smith","startTime":4045.929,"endTime":4048.719,"body":"work that we talk about every"},{"speaker":"Alan Smith","startTime":4045.929,"endTime":4048.719,"body":"other week on this podcast, but"},{"speaker":"Alan Smith","startTime":4048.779,"endTime":4051.209,"body":"for whatever reason, and it's,"},{"speaker":"Alan Smith","startTime":4048.779,"endTime":4051.209,"body":"you know, it's a commercial"},{"speaker":"Alan Smith","startTime":4051.239,"endTime":4053.249,"body":"decision, but their employers"},{"speaker":"Alan Smith","startTime":4051.239,"endTime":4053.249,"body":"just don't do it, they don't"},{"speaker":"Alan Smith","startTime":4053.249,"endTime":4058.069,"body":"embrace it, so they're looking"},{"speaker":"Alan Smith","startTime":4053.249,"endTime":4058.069,"body":"for to change, so we've been"},{"speaker":"Alan Smith","startTime":4058.0989999999997,"endTime":4061.669,"body":"able to connect people, and"},{"speaker":"Alan Smith","startTime":4058.0989999999997,"endTime":4061.669,"body":"there are also career changers,"},{"speaker":"Alan Smith","startTime":4061.969,"endTime":4064.759,"body":"so people who've been in other"},{"speaker":"Alan Smith","startTime":4061.969,"endTime":4064.759,"body":"walks of life, and we know there"},{"speaker":"Alan Smith","startTime":4064.759,"endTime":4068.959,"body":"was a, there's a school teacher"},{"speaker":"Alan Smith","startTime":4064.759,"endTime":4068.959,"body":"who found financial planning,"},{"speaker":"Alan Smith","startTime":4068.959,"endTime":4072.019,"body":"and there's been quite a number"},{"speaker":"Alan Smith","startTime":4068.959,"endTime":4072.019,"body":"over the years. The one that"},{"speaker":"Alan Smith","startTime":4072.049,"endTime":4075.439,"body":"really sticks out for me, and to"},{"speaker":"Alan Smith","startTime":4072.049,"endTime":4075.439,"body":"give him a specific name call"},{"speaker":"Alan Smith","startTime":4075.469,"endTime":4079.8689999999997,"body":"and shout out, is Matt Spivey,"},{"speaker":"Alan Smith","startTime":4075.469,"endTime":4079.8689999999997,"body":"because he, you know, he was"},{"speaker":"Alan Smith","startTime":4080.3489999999997,"endTime":4083.8289999999997,"body":"working, I think, from memory in"},{"speaker":"Alan Smith","startTime":4080.3489999999997,"endTime":4083.8289999999997,"body":"telecoms, you know, entirely"},{"speaker":"Alan Smith","startTime":4083.8889999999997,"endTime":4084.669,"body":"different industry,"},{"speaker":"Nick Lincoln","startTime":4085.66,"endTime":4085.72,"body":"yeah,"},{"speaker":"Alan Smith","startTime":4086.14,"endTime":4088.0299999999997,"body":"obviously had an"},{"speaker":"Alan Smith","startTime":4086.14,"endTime":4088.0299999999997,"body":"interest and a passion for"},{"speaker":"Alan Smith","startTime":4088.0899999999997,"endTime":4091.66,"body":"personal finance, and stumbled"},{"speaker":"Alan Smith","startTime":4088.0899999999997,"endTime":4091.66,"body":"across Trap, starts listening to"},{"speaker":"Alan Smith","startTime":4092.56,"endTime":4095.5899999999997,"body":"it, and then you'll recall that"},{"speaker":"Alan Smith","startTime":4092.56,"endTime":4095.5899999999997,"body":"one of our earlier episodes we"},{"speaker":"Alan Smith","startTime":4095.5899999999997,"endTime":4098.4000000000005,"body":"were saying about, you know,"},{"speaker":"Alan Smith","startTime":4095.5899999999997,"endTime":4098.4000000000005,"body":"trying to find another employer,"},{"speaker":"Alan Smith","startTime":4098.52,"endTime":4100.95,"body":"what have you, and we just all"},{"speaker":"Alan Smith","startTime":4098.52,"endTime":4100.95,"body":"came up with the idea, don't"},{"speaker":"Alan Smith","startTime":4100.9800000000005,"endTime":4105.1500000000005,"body":"just send in a random three line"},{"speaker":"Alan Smith","startTime":4100.9800000000005,"endTime":4105.1500000000005,"body":"email or a boring word document"},{"speaker":"Alan Smith","startTime":4105.33,"endTime":4108.96,"body":"CV, do something more, go the"},{"speaker":"Alan Smith","startTime":4105.33,"endTime":4108.96,"body":"extra mile, you know, create"},{"speaker":"Alan Smith","startTime":4109.2300000000005,"endTime":4112.14,"body":"your personal website, create a"},{"speaker":"Alan Smith","startTime":4109.2300000000005,"endTime":4112.14,"body":"short form video, do something"},{"speaker":"Alan Smith","startTime":4112.56,"endTime":4115.8,"body":"which differentiates yourself."},{"speaker":"Alan Smith","startTime":4112.56,"endTime":4115.8,"body":"Well, Matt listened to that, and"},{"speaker":"Alan Smith","startTime":4116.13,"endTime":4119.99,"body":"he did exactly that. Remember,"},{"speaker":"Alan Smith","startTime":4116.13,"endTime":4119.99,"body":"he built his own website. He"},{"speaker":"Alan Smith","startTime":4120.08,"endTime":4122.96,"body":"built, he shared his business"},{"speaker":"Alan Smith","startTime":4120.08,"endTime":4122.96,"body":"plan on his website. He created"},{"speaker":"Alan Smith","startTime":4122.99,"endTime":4126.5,"body":"a video, created a bit of"},{"speaker":"Alan Smith","startTime":4122.99,"endTime":4126.5,"body":"content, mentioned it. We give"},{"speaker":"Alan Smith","startTime":4126.5,"endTime":4129.92,"body":"him a shout out on the podcast,"},{"speaker":"Alan Smith","startTime":4126.5,"endTime":4129.92,"body":"and as we have mentioned in the"},{"speaker":"Alan Smith","startTime":4129.95,"endTime":4133.4000000000005,"body":"past, he's ended up at a great"},{"speaker":"Alan Smith","startTime":4129.95,"endTime":4133.4000000000005,"body":"firm near in Yorkshire, near"},{"speaker":"Alan Smith","startTime":4133.49,"endTime":4137.83,"body":"where he lives. So, that there's"},{"speaker":"Alan Smith","startTime":4133.49,"endTime":4137.83,"body":"dozens of stories like that, but"},{"speaker":"Alan Smith","startTime":4137.83,"endTime":4141.07,"body":"that's one specific one that I"},{"speaker":"Alan Smith","startTime":4137.83,"endTime":4141.07,"body":"think we've really added a lot"},{"speaker":"Alan Smith","startTime":4141.1,"endTime":4143.62,"body":"of value to the community, and"},{"speaker":"Alan Smith","startTime":4141.1,"endTime":4143.62,"body":"we've helped one individual in"},{"speaker":"Alan Smith","startTime":4143.62,"endTime":4147.64,"body":"particular and one firm, so that"},{"speaker":"Alan Smith","startTime":4143.62,"endTime":4147.64,"body":"has been a highlight to me, as"},{"speaker":"Alan Smith","startTime":4148.06,"endTime":4151.27,"body":"well as all the other support"},{"speaker":"Alan Smith","startTime":4148.06,"endTime":4151.27,"body":"we've given to other advisors on"},{"speaker":"Alan Smith","startTime":4151.33,"endTime":4151.84,"body":"their journey."},{"speaker":"Carl Widger","startTime":4154.299,"endTime":4159.269,"body":"Watch anything to"},{"speaker":"Carl Widger","startTime":4154.299,"endTime":4159.269,"body":"add? Yeah, I do. Yeah, I can't"},{"speaker":"Carl Widger","startTime":4160.649,"endTime":4164.459,"body":"actually believe we got to 100"},{"speaker":"Carl Widger","startTime":4160.649,"endTime":4164.459,"body":"If you look at our YouTube"},{"speaker":"Carl Widger","startTime":4164.579,"endTime":4167.759,"body":"channel, there's some YouTube"},{"speaker":"Carl Widger","startTime":4164.579,"endTime":4167.759,"body":"shorts that are like kind of"},{"speaker":"Carl Widger","startTime":4167.939,"endTime":4172.5289999999995,"body":"almost outtakes, and that will"},{"speaker":"Carl Widger","startTime":4167.939,"endTime":4172.5289999999995,"body":"give you a sense of what"},{"speaker":"Carl Widger","startTime":4172.559,"endTime":4175.199,"body":"actually happens, because even"},{"speaker":"Carl Widger","startTime":4172.559,"endTime":4175.199,"body":"this morning we were half an"},{"speaker":"Carl Widger","startTime":4175.259,"endTime":4178.849,"body":"hour trying to get the tech"},{"speaker":"Carl Widger","startTime":4175.259,"endTime":4178.849,"body":"working right, and there's a lot"},{"speaker":"Carl Widger","startTime":4178.879,"endTime":4184.249,"body":"of, yeah, there's a lot of funny"},{"speaker":"Carl Widger","startTime":4178.879,"endTime":4184.249,"body":"stuff that goes on, and it's"},{"speaker":"Carl Widger","startTime":4184.339,"endTime":4186.919,"body":"just, you know, we do have a"},{"speaker":"Carl Widger","startTime":4184.339,"endTime":4186.919,"body":"laugh, and this thing, no matter"},{"speaker":"Carl Widger","startTime":4186.979,"endTime":4192.229,"body":"how busy I've ever been coming"},{"speaker":"Carl Widger","startTime":4186.979,"endTime":4192.229,"body":"into going, oh Jesus Christ, I"},{"speaker":"Carl Widger","startTime":4192.229,"endTime":4195.649,"body":"have to record trap, it just"},{"speaker":"Carl Widger","startTime":4192.229,"endTime":4195.649,"body":"gives me energy, and the reason"},{"speaker":"Carl Widger","startTime":4195.649,"endTime":4199.5689999999995,"body":"it gives me energy is because"},{"speaker":"Carl Widger","startTime":4195.649,"endTime":4199.5689999999995,"body":"we're all kind of like whatever"},{"speaker":"Carl Widger","startTime":4199.809,"endTime":4203.1089999999995,"body":"way we all come around to it,"},{"speaker":"Carl Widger","startTime":4199.809,"endTime":4203.1089999999995,"body":"we're all trying to do the right"},{"speaker":"Carl Widger","startTime":4203.169,"endTime":4206.079,"body":"thing and do really great work"},{"speaker":"Carl Widger","startTime":4203.169,"endTime":4206.079,"body":"for our clients, and I think"},{"speaker":"Carl Widger","startTime":4206.139,"endTime":4209.8589999999995,"body":"that's why there's a like it's"},{"speaker":"Carl Widger","startTime":4206.139,"endTime":4209.8589999999995,"body":"almost not a community, it's"},{"speaker":"Carl Widger","startTime":4209.919,"endTime":4216.0689999999995,"body":"almost like a cult, and you know"},{"speaker":"Carl Widger","startTime":4209.919,"endTime":4216.0689999999995,"body":"it's it's it's a whole movement"},{"speaker":"Carl Widger","startTime":4216.219,"endTime":4220.349,"body":"almost that people have been"},{"speaker":"Carl Widger","startTime":4216.219,"endTime":4220.349,"body":"looking for something to kind of"},{"speaker":"Carl Widger","startTime":4220.379,"endTime":4224.219,"body":"hang on to, and, and it's, and"},{"speaker":"Carl Widger","startTime":4220.379,"endTime":4224.219,"body":"it's small, and it's niche, and"},{"speaker":"Carl Widger","startTime":4224.249,"endTime":4226.649,"body":"it always will, and that's why"},{"speaker":"Carl Widger","startTime":4224.249,"endTime":4226.649,"body":"we get some of the trolls,"},{"speaker":"Carl Widger","startTime":4226.799,"endTime":4230.159,"body":"because they're outside, they're"},{"speaker":"Carl Widger","startTime":4226.799,"endTime":4230.159,"body":"probably not doing it the way,"},{"speaker":"Carl Widger","startTime":4230.6089999999995,"endTime":4235.769,"body":"and I love the trolls, I just, I"},{"speaker":"Carl Widger","startTime":4230.6089999999995,"endTime":4235.769,"body":"love them, I, they give me loads"},{"speaker":"Carl Widger","startTime":4235.799,"endTime":4241.339,"body":"of energy, go giggle, you know,"},{"speaker":"Carl Widger","startTime":4235.799,"endTime":4241.339,"body":"and it's like, I think I'll just"},{"speaker":"Carl Widger","startTime":4241.369,"endTime":4244.369,"body":"leave that one just hang there"},{"speaker":"Carl Widger","startTime":4241.369,"endTime":4244.369,"body":"again, right? Because it's like,"},{"speaker":"Carl Widger","startTime":4244.699,"endTime":4248.929,"body":"it's just, wow, have you nothing"},{"speaker":"Carl Widger","startTime":4244.699,"endTime":4248.929,"body":"good to say yourself that you"},{"speaker":"Carl Widger","startTime":4248.989,"endTime":4251.689,"body":"have to come in and tell me I'm"},{"speaker":"Carl Widger","startTime":4248.989,"endTime":4251.689,"body":"stupid because I don't know"},{"speaker":"Carl Widger","startTime":4251.749,"endTime":4254.839,"body":"about cryptocurrency, which I've"},{"speaker":"Carl Widger","startTime":4251.749,"endTime":4254.839,"body":"been proven right about again"},{"speaker":"Carl Widger","startTime":4254.959,"endTime":4262.629,"body":"and again, but anyway, this but,"},{"speaker":"Carl Widger","startTime":4254.959,"endTime":4262.629,"body":"but look, probably a highlight"},{"speaker":"Carl Widger","startTime":4262.659,"endTime":4266.229,"body":"for me was a trap live this year"},{"speaker":"Carl Widger","startTime":4262.659,"endTime":4266.229,"body":"that Eva came along and three of"},{"speaker":"Carl Widger","startTime":4266.229,"endTime":4268.719,"body":"my four kids, and you know, like"},{"speaker":"Carl Widger","startTime":4266.229,"endTime":4268.719,"body":"with your kids, you're just,"},{"speaker":"Carl Widger","startTime":4268.959,"endTime":4274.059,"body":"you're just your dad, and it's"},{"speaker":"Carl Widger","startTime":4268.959,"endTime":4274.059,"body":"like I'm just dad, and then they"},{"speaker":"Carl Widger","startTime":4274.119,"endTime":4278.489,"body":"come to this thing and go. To"},{"speaker":"Carl Widger","startTime":4274.119,"endTime":4278.489,"body":"Jesus, this is kind of a, this"},{"speaker":"Carl Widger","startTime":4278.519,"endTime":4281.549,"body":"is kind of a big deal, and"},{"speaker":"Carl Widger","startTime":4278.519,"endTime":4281.549,"body":"you're actually doing quite"},{"speaker":"Carl Widger","startTime":4281.6089999999995,"endTime":4285.299,"body":"well, and that you actually"},{"speaker":"Carl Widger","startTime":4281.6089999999995,"endTime":4285.299,"body":"spoke reasonably well on the"},{"speaker":"Carl Widger","startTime":4285.3589999999995,"endTime":4288.869,"body":"stage, kind of thing. So it was"},{"speaker":"Carl Widger","startTime":4285.3589999999995,"endTime":4288.869,"body":"just, it was just cool to, was"},{"speaker":"Carl Widger","startTime":4288.959,"endTime":4292.679,"body":"almost like a bring your kids to"},{"speaker":"Carl Widger","startTime":4288.959,"endTime":4292.679,"body":"work day, right? But, um, but"},{"speaker":"Carl Widger","startTime":4292.709,"endTime":4294.989,"body":"yeah, there's, there's a,"},{"speaker":"Carl Widger","startTime":4292.709,"endTime":4294.989,"body":"there's, there's loads of stuff,"},{"speaker":"Carl Widger","startTime":4295.499,"endTime":4298.249,"body":"and I get loads of these random"},{"speaker":"Carl Widger","startTime":4295.499,"endTime":4298.249,"body":"messages from people I don't"},{"speaker":"Carl Widger","startTime":4298.2789999999995,"endTime":4301.879,"body":"know on LinkedIn, thanking me"},{"speaker":"Carl Widger","startTime":4298.2789999999995,"endTime":4301.879,"body":"for something, or saying your"},{"speaker":"Carl Widger","startTime":4301.969,"endTime":4304.669,"body":"point was really well made, and"},{"speaker":"Carl Widger","startTime":4301.969,"endTime":4304.669,"body":"the odd one saying that I don't"},{"speaker":"Carl Widger","startTime":4304.669,"endTime":4309.169,"body":"agree, and blah blah blah,"},{"speaker":"Carl Widger","startTime":4304.669,"endTime":4309.169,"body":"that's okay too, but yeah, I"},{"speaker":"Carl Widger","startTime":4309.469,"endTime":4313.729,"body":"just think my overriding sense"},{"speaker":"Carl Widger","startTime":4309.469,"endTime":4313.729,"body":"here is I cannot believe we got"},{"speaker":"Carl Widger","startTime":4313.789,"endTime":4317.679,"body":"to 100 and the fact that we got"},{"speaker":"Carl Widger","startTime":4313.789,"endTime":4317.679,"body":"to 100 we probably were so"},{"speaker":"Carl Widger","startTime":4317.769,"endTime":4320.229,"body":"bloody stubborn, that means"},{"speaker":"Carl Widger","startTime":4317.769,"endTime":4320.229,"body":"we'll go to 1000 or something"},{"speaker":"Carl Widger","startTime":4320.349,"endTime":4324.459,"body":"ridiculous. Four whole years of"},{"speaker":"Carl Widger","startTime":4320.349,"endTime":4324.459,"body":"this mental, but thank you guys."},{"speaker":"Carl Widger","startTime":4324.579,"endTime":4326.019,"body":"I've really loved the journey so"},{"speaker":"Carl Widger","startTime":4324.579,"endTime":4326.019,"body":"far."},{"speaker":"Nick Lincoln","startTime":4326.68,"endTime":4328.5999999999995,"body":"Thank you as well."},{"speaker":"Nick Lincoln","startTime":4326.68,"endTime":4328.5999999999995,"body":"Well said. I'll try anything to"},{"speaker":"Nick Lincoln","startTime":4328.72,"endTime":4328.78,"body":"say."},{"speaker":"Andy Hart","startTime":4329.32,"endTime":4331.12,"body":"Yeah, I'll chip in."},{"speaker":"Andy Hart","startTime":4329.32,"endTime":4331.12,"body":"So, yeah, I mean, the trolls are"},{"speaker":"Andy Hart","startTime":4331.12,"endTime":4334.0,"body":"quite interesting, aren't they?"},{"speaker":"Andy Hart","startTime":4331.12,"endTime":4334.0,"body":"It's clear that they consume a"},{"speaker":"Andy Hart","startTime":4334.12,"endTime":4338.55,"body":"shed load of our content, you"},{"speaker":"Andy Hart","startTime":4334.12,"endTime":4338.55,"body":"know what Alan said at minute 37"},{"speaker":"Andy Hart","startTime":4339.33,"endTime":4342.2699999999995,"body":"is slightly not technically"},{"speaker":"Andy Hart","startTime":4339.33,"endTime":4342.2699999999995,"body":"true, based on the new"},{"speaker":"Andy Hart","startTime":4342.39,"endTime":4345.15,"body":"legislation that came in. He's a"},{"speaker":"Andy Hart","startTime":4342.39,"endTime":4345.15,"body":"complete and utter arsehole."},{"speaker":"Carl Widger","startTime":4346.92,"endTime":4348.72,"body":"You've got some"},{"speaker":"Carl Widger","startTime":4346.92,"endTime":4348.72,"body":"technical stuff just totally"},{"speaker":"Carl Widger","startTime":4348.96,"endTime":4355.14,"body":"wrong, and I think it's a"},{"speaker":"Carl Widger","startTime":4348.96,"endTime":4355.14,"body":"disgrace. You should not be"},{"speaker":"Carl Widger","startTime":4355.23,"endTime":4355.71,"body":"coming to"},{"speaker":"Alan Smith","startTime":4355.89,"endTime":4358.76,"body":"listen to Trap for"},{"speaker":"Alan Smith","startTime":4355.89,"endTime":4358.76,"body":"detailed, complex technical"},{"speaker":"Alan Smith","startTime":4358.79,"endTime":4359.57,"body":"advice, if"},{"speaker":"Andy Hart","startTime":4359.69,"endTime":4362.69,"body":"you do your thinking"},{"speaker":"Andy Hart","startTime":4359.69,"endTime":4362.69,"body":"in public and produce hundreds"},{"speaker":"Andy Hart","startTime":4362.72,"endTime":4365.93,"body":"of hours of shared information,"},{"speaker":"Andy Hart","startTime":4362.72,"endTime":4365.93,"body":"of course, you're going to get a"},{"speaker":"Andy Hart","startTime":4365.99,"endTime":4369.8,"body":"few things wrong every so often"},{"speaker":"Andy Hart","startTime":4365.99,"endTime":4369.8,"body":"anyway. But yes, I mean, yeah,"},{"speaker":"Andy Hart","startTime":4369.89,"endTime":4373.13,"body":"we got to 100 shows. I think"},{"speaker":"Andy Hart","startTime":4369.89,"endTime":4373.13,"body":"it's a huge celebration. I mean,"},{"speaker":"Andy Hart","startTime":4373.19,"endTime":4377.2,"body":"not many shows get to 100 shows,"},{"speaker":"Andy Hart","startTime":4373.19,"endTime":4377.2,"body":"you know. We've showed up every"},{"speaker":"Andy Hart","startTime":4377.29,"endTime":4380.86,"body":"two weeks, we've done what we"},{"speaker":"Andy Hart","startTime":4377.29,"endTime":4380.86,"body":"said we're going to do. We are"},{"speaker":"Andy Hart","startTime":4380.98,"endTime":4385.75,"body":"still friends, just a few hairy"},{"speaker":"Andy Hart","startTime":4380.98,"endTime":4385.75,"body":"moments, a few toys being thrown"},{"speaker":"Andy Hart","startTime":4385.84,"endTime":4390.01,"body":"out the WhatsApp group pram"},{"speaker":"Andy Hart","startTime":4385.84,"endTime":4390.01,"body":"every so often, but yeah, I'm"},{"speaker":"Andy Hart","startTime":4390.04,"endTime":4393.4,"body":"taken aback by the reception and"},{"speaker":"Andy Hart","startTime":4390.04,"endTime":4393.4,"body":"the ongoing growth of the"},{"speaker":"Andy Hart","startTime":4393.58,"endTime":4396.19,"body":"podcast. You know, it was"},{"speaker":"Andy Hart","startTime":4393.58,"endTime":4396.19,"body":"clearly needed, the community,"},{"speaker":"Andy Hart","startTime":4396.49,"endTime":4399.8099999999995,"body":"the profession was obviously"},{"speaker":"Andy Hart","startTime":4396.49,"endTime":4399.8099999999995,"body":"wanting something like this to"},{"speaker":"Andy Hart","startTime":4399.84,"endTime":4402.96,"body":"be put out there inside"},{"speaker":"Andy Hart","startTime":4399.84,"endTime":4402.96,"body":"financial advice, let's call it,"},{"speaker":"Andy Hart","startTime":4403.14,"endTime":4404.94,"body":"and I believe the best thing"},{"speaker":"Andy Hart","startTime":4403.14,"endTime":4404.94,"body":"we're doing is uniting the"},{"speaker":"Andy Hart","startTime":4405.2699999999995,"endTime":4408.39,"body":"profession, as in younger"},{"speaker":"Andy Hart","startTime":4405.2699999999995,"endTime":4408.39,"body":"advisors listen to us, people"},{"speaker":"Andy Hart","startTime":4408.51,"endTime":4411.72,"body":"outside the profession, older"},{"speaker":"Andy Hart","startTime":4408.51,"endTime":4411.72,"body":"people, independent firms,"},{"speaker":"Andy Hart","startTime":4411.87,"endTime":4416.28,"body":"restricted firms, employed"},{"speaker":"Andy Hart","startTime":4411.87,"endTime":4416.28,"body":"advisors, para planners, you"},{"speaker":"Andy Hart","startTime":4416.3099999999995,"endTime":4420.2,"body":"know, raising all ships, as it"},{"speaker":"Andy Hart","startTime":4416.3099999999995,"endTime":4420.2,"body":"were, and I think we're having a"},{"speaker":"Andy Hart","startTime":4420.62,"endTime":4424.46,"body":"big impact on it. For me,"},{"speaker":"Andy Hart","startTime":4420.62,"endTime":4424.46,"body":"specific ones, Nick in Sicily"},{"speaker":"Andy Hart","startTime":4424.58,"endTime":4428.09,"body":"was a bit of a highlight."},{"speaker":"Andy Hart","startTime":4424.58,"endTime":4428.09,"body":"Obviously, we need, we need our"},{"speaker":"Andy Hart","startTime":4428.18,"endTime":4434.5999999999995,"body":"main man to show up and do the"},{"speaker":"Andy Hart","startTime":4428.18,"endTime":4434.5999999999995,"body":"drop, so he does shoot her off"},{"speaker":"Andy Hart","startTime":4434.75,"endTime":4440.7699999999995,"body":"before, before, before we went"},{"speaker":"Andy Hart","startTime":4434.75,"endTime":4440.7699999999995,"body":"live, I think I done every show."},{"speaker":"Andy Hart","startTime":4441.04,"endTime":4444.01,"body":"Nick might know, I think Nick,"},{"speaker":"Andy Hart","startTime":4441.04,"endTime":4444.01,"body":"you've done every show, Alan."},{"speaker":"Andy Hart","startTime":4444.19,"endTime":4449.68,"body":"Yeah, Carl's missed a few."},{"speaker":"Andy Hart","startTime":4444.19,"endTime":4449.68,"body":"Anyway, we've all massively"},{"speaker":"Andy Hart","startTime":4449.71,"endTime":4452.74,"body":"committed. Yeah, so the Sicily"},{"speaker":"Andy Hart","startTime":4449.71,"endTime":4452.74,"body":"was a highlight for me. Trap"},{"speaker":"Andy Hart","startTime":4452.89,"endTime":4455.0199999999995,"body":"live has been amazing. We've"},{"speaker":"Andy Hart","startTime":4452.89,"endTime":4455.0199999999995,"body":"done it three times, and I think"},{"speaker":"Andy Hart","startTime":4455.05,"endTime":4457.89,"body":"we've nailed it now. So I'm"},{"speaker":"Andy Hart","startTime":4455.05,"endTime":4457.89,"body":"happy we're going to the same"},{"speaker":"Andy Hart","startTime":4457.95,"endTime":4462.36,"body":"venue next year, we'll, you"},{"speaker":"Andy Hart","startTime":4457.95,"endTime":4462.36,"body":"know, spend a bit more time"},{"speaker":"Andy Hart","startTime":4462.45,"endTime":4465.42,"body":"trying to make sure that show is"},{"speaker":"Andy Hart","startTime":4462.45,"endTime":4465.42,"body":"the best it can be, but in terms"},{"speaker":"Andy Hart","startTime":4465.51,"endTime":4468.57,"body":"of, yeah, the logistics and the"},{"speaker":"Andy Hart","startTime":4465.51,"endTime":4468.57,"body":"venue, that's going to be, you"},{"speaker":"Andy Hart","startTime":4468.57,"endTime":4471.15,"body":"know, hopefully ticking the box,"},{"speaker":"Andy Hart","startTime":4468.57,"endTime":4471.15,"body":"so yeah, we'll just work a bit"},{"speaker":"Andy Hart","startTime":4471.15,"endTime":4474.99,"body":"harder at it, yeah, so onwards"},{"speaker":"Andy Hart","startTime":4471.15,"endTime":4474.99,"body":"to 200 shows, guys, yeah, thank"},{"speaker":"Andy Hart","startTime":4474.99,"endTime":4476.4,"body":"you very much, and thank you"},{"speaker":"Andy Hart","startTime":4474.99,"endTime":4476.4,"body":"very much for listening,"},{"speaker":"Andy Hart","startTime":4476.43,"endTime":4476.73,"body":"everyone,"},{"speaker":"Nick Lincoln","startTime":4477.15,"endTime":4477.42,"body":"yeah, indeed,"},{"speaker":"Andy Hart","startTime":4478.5,"endTime":4479.24,"body":"Nicholas, or someone."},{"speaker":"Nick Lincoln","startTime":4479.24,"endTime":4481.16,"body":"Okay, thank you."},{"speaker":"Nick Lincoln","startTime":4479.24,"endTime":4481.16,"body":"And then we've got plans, plans"},{"speaker":"Nick Lincoln","startTime":4481.28,"endTime":4484.25,"body":"for rolling out this trap thing"},{"speaker":"Nick Lincoln","startTime":4481.28,"endTime":4484.25,"body":"in various ways over the over"},{"speaker":"Nick Lincoln","startTime":4484.25,"endTime":4487.58,"body":"the coming months and years."},{"speaker":"Nick Lincoln","startTime":4484.25,"endTime":4487.58,"body":"Good stuff. Okay, so I've got -"},{"speaker":"Nick Lincoln","startTime":4487.8499999999995,"endTime":4490.34,"body":"I'm a bit time scarce today, and"},{"speaker":"Nick Lincoln","startTime":4487.8499999999995,"endTime":4490.34,"body":"my apologies for that. Let's"},{"speaker":"Nick Lincoln","startTime":4490.43,"endTime":4492.92,"body":"move straight on to the Trappist"},{"speaker":"Nick Lincoln","startTime":4490.43,"endTime":4492.92,"body":"questions. This is where we"},{"speaker":"Nick Lincoln","startTime":4493.07,"endTime":4496.3,"body":"answer a question from our"},{"speaker":"Nick Lincoln","startTime":4493.07,"endTime":4496.3,"body":"beloved Trappist audience. You"},{"speaker":"Nick Lincoln","startTime":4496.39,"endTime":4499.57,"body":"can submit a question by the"},{"speaker":"Nick Lincoln","startTime":4496.39,"endTime":4499.57,"body":"pinned tweet on X, the pinned X"},{"speaker":"Nick Lincoln","startTime":4499.66,"endTime":4502.45,"body":"on Twitter, whatever you want to"},{"speaker":"Nick Lincoln","startTime":4499.66,"endTime":4502.45,"body":"call it, and or in the show"},{"speaker":"Nick Lincoln","startTime":4502.57,"endTime":4504.76,"body":"called Show Notes, there's a"},{"speaker":"Nick Lincoln","startTime":4502.57,"endTime":4504.76,"body":"link there to click and submit"},{"speaker":"Nick Lincoln","startTime":4504.76,"endTime":4507.55,"body":"your question. We will get to"},{"speaker":"Nick Lincoln","startTime":4504.76,"endTime":4507.55,"body":"it, we answer them in order. So"},{"speaker":"Nick Lincoln","startTime":4507.67,"endTime":4510.07,"body":"we're still a few months behind,"},{"speaker":"Nick Lincoln","startTime":4507.67,"endTime":4510.07,"body":"but we're going to do this one."},{"speaker":"Nick Lincoln","startTime":4510.13,"endTime":4515.41,"body":"And this is from, who is this"},{"speaker":"Nick Lincoln","startTime":4510.13,"endTime":4515.41,"body":"from? It's a nice, it's a nice"},{"speaker":"Nick Lincoln","startTime":4516.0999999999995,"endTime":4518.73,"body":"envelope. This is from someone"},{"speaker":"Nick Lincoln","startTime":4516.0999999999995,"endTime":4518.73,"body":"called Tom L, who's not got a"},{"speaker":"Nick Lincoln","startTime":4518.76,"endTime":4520.62,"body":"social handle. It's a long"},{"speaker":"Nick Lincoln","startTime":4518.76,"endTime":4520.62,"body":"question. Thanks for this one,"},{"speaker":"Nick Lincoln","startTime":4520.65,"endTime":4523.83,"body":"Tom. I don't think Tom's in the"},{"speaker":"Nick Lincoln","startTime":4520.65,"endTime":4523.83,"body":"profession in this thing of ours"},{"speaker":"Nick Lincoln","startTime":4523.89,"endTime":4526.47,"body":"from reading it. Hello, dear"},{"speaker":"Nick Lincoln","startTime":4523.89,"endTime":4526.47,"body":"Trap. I'm one of those end users"},{"speaker":"Nick Lincoln","startTime":4526.53,"endTime":4528.42,"body":"who stumbled upon your podcast"},{"speaker":"Nick Lincoln","startTime":4526.53,"endTime":4528.42,"body":"and have listened back through"},{"speaker":"Nick Lincoln","startTime":4528.45,"endTime":4531.24,"body":"every episode whilst running."},{"speaker":"Nick Lincoln","startTime":4528.45,"endTime":4531.24,"body":"Just fantastic stuff, six out of"},{"speaker":"Nick Lincoln","startTime":4531.2699999999995,"endTime":4533.88,"body":"five stars. Thank you. There's"},{"speaker":"Nick Lincoln","startTime":4531.2699999999995,"endTime":4533.88,"body":"our review. I have a question"},{"speaker":"Nick Lincoln","startTime":4533.91,"endTime":4535.71,"body":"about helping people who need"},{"speaker":"Nick Lincoln","startTime":4533.91,"endTime":4535.71,"body":"financial advice, but are too"},{"speaker":"Nick Lincoln","startTime":4535.83,"endTime":4538.22,"body":"stubborn to admit they need it."},{"speaker":"Nick Lincoln","startTime":4535.83,"endTime":4538.22,"body":"My father is a proud,"},{"speaker":"Nick Lincoln","startTime":4538.25,"endTime":4540.26,"body":"independent man, but he's"},{"speaker":"Nick Lincoln","startTime":4538.25,"endTime":4540.26,"body":"struggling to move forward with"},{"speaker":"Nick Lincoln","startTime":4540.44,"endTime":4543.62,"body":"IHT planning due to behavioral"},{"speaker":"Nick Lincoln","startTime":4540.44,"endTime":4543.62,"body":"issues. He wants to minimize the"},{"speaker":"Nick Lincoln","startTime":4543.68,"endTime":4545.9,"body":"bill, but doesn't want to use"},{"speaker":"Nick Lincoln","startTime":4543.68,"endTime":4545.9,"body":"any allowances because he thinks"},{"speaker":"Nick Lincoln","startTime":4545.96,"endTime":4548.9,"body":"they're too small, and he"},{"speaker":"Nick Lincoln","startTime":4545.96,"endTime":4548.9,"body":"doesn't want to follow their"},{"speaker":"Nick Lincoln","startTime":4549.0199999999995,"endTime":4551.54,"body":"rules. I'm warming to your dad"},{"speaker":"Nick Lincoln","startTime":4549.0199999999995,"endTime":4551.54,"body":"already, Tom. He's also"},{"speaker":"Nick Lincoln","startTime":4551.5999999999995,"endTime":4553.49,"body":"struggling to draw from his"},{"speaker":"Nick Lincoln","startTime":4551.5999999999995,"endTime":4553.49,"body":"pension because he doesn't want"},{"speaker":"Nick Lincoln","startTime":4553.49,"endTime":4556.36,"body":"to pay income tax. He's fixated"},{"speaker":"Nick Lincoln","startTime":4553.49,"endTime":4556.36,"body":"on doing something with the"},{"speaker":"Nick Lincoln","startTime":4556.45,"endTime":4558.97,"body":"house and his approach is based"},{"speaker":"Nick Lincoln","startTime":4556.45,"endTime":4558.97,"body":"on random articles from"},{"speaker":"Nick Lincoln","startTime":4558.97,"endTime":4562.3,"body":"experienced IHT barristers. Oh"},{"speaker":"Nick Lincoln","startTime":4558.97,"endTime":4562.3,"body":"God, when I say we shouldn't try"},{"speaker":"Nick Lincoln","startTime":4562.42,"endTime":4565.21,"body":"to make specific plans based on"},{"speaker":"Nick Lincoln","startTime":4562.42,"endTime":4565.21,"body":"general articles, he says things"},{"speaker":"Nick Lincoln","startTime":4565.2699999999995,"endTime":4567.88,"body":"like we don't need an advisor,"},{"speaker":"Nick Lincoln","startTime":4565.2699999999995,"endTime":4567.88,"body":"they're for people with complex"},{"speaker":"Nick Lincoln","startTime":4567.94,"endTime":4572.08,"body":"family situations like second"},{"speaker":"Nick Lincoln","startTime":4567.94,"endTime":4572.08,"body":"wives. I'm worried we'll face an"},{"speaker":"Nick Lincoln","startTime":4572.14,"endTime":4575.41,"body":"IHT bill so high that we'll"},{"speaker":"Nick Lincoln","startTime":4572.14,"endTime":4575.41,"body":"generally genuinely struggle to"},{"speaker":"Nick Lincoln","startTime":4575.47,"endTime":4577.92,"body":"pay it is. Anything we can do, I"},{"speaker":"Nick Lincoln","startTime":4575.47,"endTime":4577.92,"body":"just want to come on that final"},{"speaker":"Nick Lincoln","startTime":4578.07,"endTime":4581.97,"body":"point, and I'll throw out the"},{"speaker":"Nick Lincoln","startTime":4578.07,"endTime":4581.97,"body":"trap pack. The IHT bill is only"},{"speaker":"Nick Lincoln","startTime":4582.03,"endTime":4585.15,"body":"ever at most 40% of the estate,"},{"speaker":"Nick Lincoln","startTime":4582.03,"endTime":4585.15,"body":"less exemptions, so you still"},{"speaker":"Nick Lincoln","startTime":4585.15,"endTime":4588.51,"body":"gonna have 60% left behind. You"},{"speaker":"Nick Lincoln","startTime":4585.15,"endTime":4588.51,"body":"can always pay the IHT bill. It"},{"speaker":"Nick Lincoln","startTime":4588.51,"endTime":4591.36,"body":"might mean you have to be a"},{"speaker":"Nick Lincoln","startTime":4588.51,"endTime":4591.36,"body":"forced seller of prized beloved"},{"speaker":"Nick Lincoln","startTime":4591.45,"endTime":4595.14,"body":"assets like the family home, but"},{"speaker":"Nick Lincoln","startTime":4591.45,"endTime":4595.14,"body":"if you've got an IHT bill, it"},{"speaker":"Nick Lincoln","startTime":4595.14,"endTime":4597.89,"body":"means you've got assets, and"},{"speaker":"Nick Lincoln","startTime":4595.14,"endTime":4597.89,"body":"it's only ever gonna be 40% you"},{"speaker":"Nick Lincoln","startTime":4597.89,"endTime":4603.53,"body":"have 6% left. Yeah, that point I"},{"speaker":"Nick Lincoln","startTime":4597.89,"endTime":4603.53,"body":"don't get, but I think the"},{"speaker":"Nick Lincoln","startTime":4603.53,"endTime":4605.39,"body":"behavioral stuff, yes, it's very"},{"speaker":"Nick Lincoln","startTime":4603.53,"endTime":4605.39,"body":"diverse. People get older, they"},{"speaker":"Nick Lincoln","startTime":4605.39,"endTime":4607.01,"body":"get more stubborn, don't they?"},{"speaker":"Nick Lincoln","startTime":4605.39,"endTime":4607.01,"body":"I'm sure we know that with our,"},{"speaker":"Nick Lincoln","startTime":4607.37,"endTime":4609.05,"body":"with our parents, we notice that"},{"speaker":"Nick Lincoln","startTime":4607.37,"endTime":4609.05,"body":"with our parents, they'd get"},{"speaker":"Nick Lincoln","startTime":4609.11,"endTime":4611.75,"body":"more entrenched in their ways."},{"speaker":"Nick Lincoln","startTime":4609.11,"endTime":4611.75,"body":"And"},{"speaker":"Carl Widger","startTime":4612.71,"endTime":4615.53,"body":"yes, I was"},{"speaker":"Carl Widger","startTime":4612.71,"endTime":4615.53,"body":"thinking, we don't have to look"},{"speaker":"Carl Widger","startTime":4615.59,"endTime":4619.42,"body":"to our more stubborn. We just.."},{"speaker":"Andy Hart","startTime":4620.92,"endTime":4622.42,"body":"well, I was born.. I"},{"speaker":"Andy Hart","startTime":4620.92,"endTime":4622.42,"body":"was born stubborn, and I'm not"},{"speaker":"Andy Hart","startTime":4622.42,"endTime":4625.66,"body":"getting any better. But you"},{"speaker":"Andy Hart","startTime":4622.42,"endTime":4625.66,"body":"know, again, this.. you know"},{"speaker":"Andy Hart","startTime":4625.72,"endTime":4628.39,"body":"that I actually planning with"},{"speaker":"Andy Hart","startTime":4625.72,"endTime":4628.39,"body":"the house.. that just.. that's a"},{"speaker":"Andy Hart","startTime":4628.63,"endTime":4631.87,"body":"massive red flag. Just be very"},{"speaker":"Andy Hart","startTime":4628.63,"endTime":4631.87,"body":"careful about that with guys."},{"speaker":"Andy Hart","startTime":4631.93,"endTime":4633.64,"body":"Anything to add to this?"},{"speaker":"Andy Hart","startTime":4631.93,"endTime":4633.64,"body":"Anything to respond to this"},{"speaker":"Andy Hart","startTime":4633.7,"endTime":4636.54,"body":"question? I mean, it's probably"},{"speaker":"Andy Hart","startTime":4633.7,"endTime":4636.54,"body":"not gonna be very helpful in"},{"speaker":"Andy Hart","startTime":4636.54,"endTime":4638.3099999999995,"body":"this situation, but you can only"},{"speaker":"Andy Hart","startTime":4636.54,"endTime":4638.3099999999995,"body":"help people who want to help"},{"speaker":"Andy Hart","startTime":4638.3099999999995,"endTime":4642.84,"body":"themselves. Yeah, as I think"},{"speaker":"Andy Hart","startTime":4638.3099999999995,"endTime":4642.84,"body":"Carl mentioned, we, or Alan"},{"speaker":"Andy Hart","startTime":4642.87,"endTime":4645.75,"body":"mentioned, we generally want to"},{"speaker":"Andy Hart","startTime":4642.87,"endTime":4645.75,"body":"help people by default, but you"},{"speaker":"Andy Hart","startTime":4645.75,"endTime":4647.4,"body":"can only help people who want to"},{"speaker":"Andy Hart","startTime":4645.75,"endTime":4647.4,"body":"help themselves. And we come"},{"speaker":"Andy Hart","startTime":4647.43,"endTime":4649.74,"body":"across loads of different things"},{"speaker":"Andy Hart","startTime":4647.43,"endTime":4649.74,"body":"in life, and if you start trying"},{"speaker":"Andy Hart","startTime":4649.74,"endTime":4653.13,"body":"to help someone, trying to lead"},{"speaker":"Andy Hart","startTime":4649.74,"endTime":4653.13,"body":"them down a road, you're just"},{"speaker":"Andy Hart","startTime":4653.13,"endTime":4657.41,"body":"going to waste your time. So you"},{"speaker":"Andy Hart","startTime":4653.13,"endTime":4657.41,"body":"learn that just with experience,"},{"speaker":"Andy Hart","startTime":4657.5,"endTime":4660.23,"body":"I think over time, if people"},{"speaker":"Andy Hart","startTime":4657.5,"endTime":4660.23,"body":"come to me genuinely say I need"},{"speaker":"Andy Hart","startTime":4660.23,"endTime":4662.03,"body":"some help, and I want you to"},{"speaker":"Andy Hart","startTime":4660.23,"endTime":4662.03,"body":"spend three hours explaining"},{"speaker":"Andy Hart","startTime":4662.0599999999995,"endTime":4664.94,"body":"something to me, or I need to do"},{"speaker":"Andy Hart","startTime":4662.0599999999995,"endTime":4664.94,"body":"this, that, and the other, I'm"},{"speaker":"Andy Hart","startTime":4665.0,"endTime":4667.37,"body":"there. If I just see a problem"},{"speaker":"Andy Hart","startTime":4665.0,"endTime":4667.37,"body":"and I think, right, I'm going to"},{"speaker":"Andy Hart","startTime":4667.43,"endTime":4669.86,"body":"butt in here and try and help"},{"speaker":"Andy Hart","startTime":4667.43,"endTime":4669.86,"body":"this person, if they don't help"},{"speaker":"Andy Hart","startTime":4669.86,"endTime":4671.87,"body":"themselves, it's very hard. But"},{"speaker":"Carl Widger","startTime":4672.32,"endTime":4674.54,"body":"sorry, I didn't"},{"speaker":"Carl Widger","startTime":4672.32,"endTime":4674.54,"body":"read the question earlier, and"},{"speaker":"Carl Widger","startTime":4674.54,"endTime":4677.08,"body":"I'm really sorry. Is this this"},{"speaker":"Carl Widger","startTime":4674.54,"endTime":4677.08,"body":"guy's talking about his"},{"speaker":"Carl Widger","startTime":4677.32,"endTime":4678.61,"body":"father-in-law. No, his"},{"speaker":"Andy Hart","startTime":4679.12,"endTime":4680.59,"body":"father, I think. So,"},{"speaker":"Andy Hart","startTime":4679.12,"endTime":4680.59,"body":"this is a"},{"speaker":"Alan Smith","startTime":4680.68,"endTime":4684.67,"body":"non-advisor. He's an"},{"speaker":"Alan Smith","startTime":4680.68,"endTime":4684.67,"body":"end user talking about his dad."},{"speaker":"Carl Widger","startTime":4685.33,"endTime":4688.36,"body":"I don't know if his"},{"speaker":"Carl Widger","startTime":4685.33,"endTime":4688.36,"body":"mom was alive, maybe to talk to"},{"speaker":"Carl Widger","startTime":4688.39,"endTime":4692.95,"body":"his mom, like his dad may have"},{"speaker":"Carl Widger","startTime":4688.39,"endTime":4692.95,"body":"preconceived notions that Tom of"},{"speaker":"Carl Widger","startTime":4693.07,"endTime":4694.0,"body":"him looking. Yeah,"},{"speaker":"Andy Hart","startTime":4694.69,"endTime":4696.07,"body":"he needs a third"},{"speaker":"Andy Hart","startTime":4694.69,"endTime":4696.07,"body":"opinion for"},{"speaker":"Carl Widger","startTime":4696.16,"endTime":4698.43,"body":"money. It needs to"},{"speaker":"Carl Widger","startTime":4696.16,"endTime":4698.43,"body":"come from the body of his, who's"},{"speaker":"Carl Widger","startTime":4698.5199999999995,"endTime":4700.83,"body":"a less financial advice. That's"},{"speaker":"Alan Smith","startTime":4701.01,"endTime":4703.65,"body":"what I was thinking."},{"speaker":"Alan Smith","startTime":4701.01,"endTime":4703.65,"body":"Two quick points on this one."},{"speaker":"Alan Smith","startTime":4703.68,"endTime":4708.72,"body":"This thing about hiring advisors"},{"speaker":"Alan Smith","startTime":4703.68,"endTime":4708.72,"body":"only for complex and situations"},{"speaker":"Alan Smith","startTime":4708.78,"endTime":4712.32,"body":"with second wives, and what have"},{"speaker":"Alan Smith","startTime":4708.78,"endTime":4712.32,"body":"you. We've talked about this,"},{"speaker":"Alan Smith","startTime":4712.5,"endTime":4718.43,"body":"you know, the new legislation,"},{"speaker":"Alan Smith","startTime":4712.5,"endTime":4718.43,"body":"and as it applies to your home"},{"speaker":"Alan Smith","startTime":4718.76,"endTime":4721.88,"body":"and the tax allowances, and now"},{"speaker":"Alan Smith","startTime":4718.76,"endTime":4721.88,"body":"your pension falling into the"},{"speaker":"Alan Smith","startTime":4721.91,"endTime":4725.12,"body":"tax bracket, stuff. It is"},{"speaker":"Alan Smith","startTime":4721.91,"endTime":4725.12,"body":"getting ridiculously complex,"},{"speaker":"Alan Smith","startTime":4725.21,"endTime":4728.03,"body":"and yes, you're right, Nick. In"},{"speaker":"Alan Smith","startTime":4725.21,"endTime":4728.03,"body":"terms of this, should always be"},{"speaker":"Alan Smith","startTime":4728.18,"endTime":4731.84,"body":"sufficient assets to pay the tax"},{"speaker":"Alan Smith","startTime":4728.18,"endTime":4731.84,"body":"bill, but you might be waiting a"},{"speaker":"Alan Smith","startTime":4731.93,"endTime":4734.36,"body":"long time and unwinding all that"},{"speaker":"Alan Smith","startTime":4731.93,"endTime":4734.36,"body":"stuff, and you're going to incur"},{"speaker":"Alan Smith","startTime":4734.5999999999995,"endTime":4736.9,"body":"penalties and late payment fees,"},{"speaker":"Alan Smith","startTime":4734.5999999999995,"endTime":4736.9,"body":"and God knows what else, so it"},{"speaker":"Alan Smith","startTime":4736.9,"endTime":4742.51,"body":"is complex, and planning does"},{"speaker":"Alan Smith","startTime":4736.9,"endTime":4742.51,"body":"help with this. What I read, the"},{"speaker":"Alan Smith","startTime":4742.51,"endTime":4746.53,"body":"I read the question earlier, and"},{"speaker":"Alan Smith","startTime":4742.51,"endTime":4746.53,"body":"I don't think you want to be"},{"speaker":"Alan Smith","startTime":4746.53,"endTime":4749.83,"body":"bashing your dad over the head"},{"speaker":"Alan Smith","startTime":4746.53,"endTime":4749.83,"body":"with statistics and facts and"},{"speaker":"Alan Smith","startTime":4750.22,"endTime":4752.92,"body":"charts and all that sort of"},{"speaker":"Alan Smith","startTime":4750.22,"endTime":4752.92,"body":"stuff. What do you think stories"},{"speaker":"Alan Smith","startTime":4753.07,"endTime":4755.3499999999995,"body":"work, and just joining the"},{"speaker":"Alan Smith","startTime":4753.07,"endTime":4755.3499999999995,"body":"joining the doctor in what Carl"},{"speaker":"Alan Smith","startTime":4755.38,"endTime":4761.43,"body":"was just has just said for the"},{"speaker":"Alan Smith","startTime":4755.38,"endTime":4761.43,"body":"guy? guy who, who wrote in with"},{"speaker":"Alan Smith","startTime":4761.43,"endTime":4764.82,"body":"the question, does he have any,"},{"speaker":"Alan Smith","startTime":4761.43,"endTime":4764.82,"body":"does he have friends of his"},{"speaker":"Alan Smith","startTime":4765.48,"endTime":4768.39,"body":"generation whose parents have"},{"speaker":"Alan Smith","startTime":4765.48,"endTime":4768.39,"body":"engaged more, they have done"},{"speaker":"Alan Smith","startTime":4768.48,"endTime":4771.33,"body":"some planning work, and then"},{"speaker":"Alan Smith","startTime":4768.48,"endTime":4771.33,"body":"there's a story you can tell, do"},{"speaker":"Alan Smith","startTime":4771.36,"endTime":4774.18,"body":"you know that you know Bob and"},{"speaker":"Alan Smith","startTime":4771.36,"endTime":4774.18,"body":"Mary down the road, they, what"},{"speaker":"Alan Smith","startTime":4774.21,"endTime":4777.05,"body":"they did was this, that, and the"},{"speaker":"Alan Smith","startTime":4774.21,"endTime":4777.05,"body":"other, I think just somehow,"},{"speaker":"Alan Smith","startTime":4777.3499999999995,"endTime":4780.41,"body":"just dropping in a few stories,"},{"speaker":"Alan Smith","startTime":4777.3499999999995,"endTime":4780.41,"body":"real-life experiences, people"},{"speaker":"Alan Smith","startTime":4780.47,"endTime":4783.83,"body":"that they know, or that the dad"},{"speaker":"Alan Smith","startTime":4780.47,"endTime":4783.83,"body":"knows, or knows of, you know,"},{"speaker":"Alan Smith","startTime":4783.92,"endTime":4786.7699999999995,"body":"nothing complex, and but they"},{"speaker":"Alan Smith","startTime":4783.92,"endTime":4786.7699999999995,"body":"did a couple of things, which"},{"speaker":"Alan Smith","startTime":4786.86,"endTime":4790.46,"body":"just help and keep, and it"},{"speaker":"Alan Smith","startTime":4786.86,"endTime":4790.46,"body":"depends on the dad's kind of"},{"speaker":"Alan Smith","startTime":4790.5199999999995,"endTime":4794.9,"body":"motivation to it, because"},{"speaker":"Alan Smith","startTime":4790.5199999999995,"endTime":4794.9,"body":"ultimately, if he doesn't want"},{"speaker":"Alan Smith","startTime":4794.9,"endTime":4799.75,"body":"to do anything, and he's aware"},{"speaker":"Alan Smith","startTime":4794.9,"endTime":4799.75,"body":"that the tax man will become the"},{"speaker":"Alan Smith","startTime":4799.75,"endTime":4803.23,"body":"single biggest beneficiary of"},{"speaker":"Alan Smith","startTime":4799.75,"endTime":4803.23,"body":"his life's work and his estate,"},{"speaker":"Alan Smith","startTime":4803.23,"endTime":4805.8099999999995,"body":"and his career. If he's okay"},{"speaker":"Alan Smith","startTime":4803.23,"endTime":4805.8099999999995,"body":"with that, yeah, then you have"},{"speaker":"Alan Smith","startTime":4805.84,"endTime":4808.78,"body":"to, you're gonna have to live"},{"speaker":"Alan Smith","startTime":4805.84,"endTime":4808.78,"body":"with it. But I think narratives"},{"speaker":"Alan Smith","startTime":4808.84,"endTime":4812.38,"body":"and storytelling, and examples"},{"speaker":"Alan Smith","startTime":4808.84,"endTime":4812.38,"body":"of others that he knows and"},{"speaker":"Alan Smith","startTime":4812.41,"endTime":4814.72,"body":"knows of, is probably your only"},{"speaker":"Alan Smith","startTime":4812.41,"endTime":4814.72,"body":"hope there."},{"speaker":"Andy Hart","startTime":4816.01,"endTime":4817.71,"body":"I mean, it's pretty"},{"speaker":"Andy Hart","startTime":4816.01,"endTime":4817.71,"body":"staggering. This is the point we"},{"speaker":"Andy Hart","startTime":4817.8,"endTime":4820.98,"body":"mentioned earlier. I mean, he's"},{"speaker":"Andy Hart","startTime":4817.8,"endTime":4820.98,"body":"an end user, and he stumbled"},{"speaker":"Andy Hart","startTime":4820.98,"endTime":4823.5,"body":"across the podcast, and has now"},{"speaker":"Andy Hart","startTime":4820.98,"endTime":4823.5,"body":"listened back through every"},{"speaker":"Andy Hart","startTime":4823.65,"endTime":4826.26,"body":"episode, and now given us a six"},{"speaker":"Andy Hart","startTime":4823.65,"endTime":4826.26,"body":"out of five star. He must be"},{"speaker":"Andy Hart","startTime":4826.44,"endTime":4829.59,"body":"interested in this world of"},{"speaker":"Andy Hart","startTime":4826.44,"endTime":4829.59,"body":"money and world of finance, and"},{"speaker":"Andy Hart","startTime":4829.68,"endTime":4833.64,"body":"later on down the line, he may"},{"speaker":"Andy Hart","startTime":4829.68,"endTime":4833.64,"body":"decide to pursue a career in"},{"speaker":"Andy Hart","startTime":4833.7,"endTime":4837.98,"body":"this or not, but it's pretty"},{"speaker":"Andy Hart","startTime":4833.7,"endTime":4837.98,"body":"crazy that someone from the"},{"speaker":"Andy Hart","startTime":4838.01,"endTime":4840.86,"body":"outside of this profession goes"},{"speaker":"Andy Hart","startTime":4838.01,"endTime":4840.86,"body":"back and listens through 99"},{"speaker":"Andy Hart","startTime":4841.0999999999995,"endTime":4841.49,"body":"episodes."},{"speaker":"Alan Smith","startTime":4842.54,"endTime":4844.55,"body":"People have got an"},{"speaker":"Alan Smith","startTime":4842.54,"endTime":4844.55,"body":"interest in personal finance,"},{"speaker":"Alan Smith","startTime":4845.24,"endTime":4847.58,"body":"haven't they? Yes. And this is,"},{"speaker":"Alan Smith","startTime":4845.24,"endTime":4847.58,"body":"you know, this is a behind the"},{"speaker":"Alan Smith","startTime":4847.64,"endTime":4850.49,"body":"scenes look instead of a no, I"},{"speaker":"Alan Smith","startTime":4847.64,"endTime":4850.49,"body":"get it for dot version"},{"speaker":"Andy Hart","startTime":4850.97,"endTime":4854.69,"body":"chewing the fat about"},{"speaker":"Andy Hart","startTime":4850.97,"endTime":4854.69,"body":"all right. All right, yes. Next,"},{"speaker":"Andy Hart","startTime":4854.72,"endTime":4854.8099999999995,"body":"move"},{"speaker":"Nick Lincoln","startTime":4854.9,"endTime":4856.8099999999995,"body":"on. Okay, let's"},{"speaker":"Nick Lincoln","startTime":4854.9,"endTime":4856.8099999999995,"body":"move on to what many people call"},{"speaker":"Nick Lincoln","startTime":4857.08,"endTime":4857.89,"body":"culture cord."},{"speaker":"Alan Smith","startTime":4863.14,"endTime":4864.79,"body":"Okay, I haven't got"},{"speaker":"Alan Smith","startTime":4863.14,"endTime":4864.79,"body":"the thing in front of me. I"},{"speaker":"Alan Smith","startTime":4864.88,"endTime":4868.66,"body":"guess it's me first. I just want"},{"speaker":"Alan Smith","startTime":4864.88,"endTime":4868.66,"body":"to do a very quick shout out,"},{"speaker":"Alan Smith","startTime":4868.87,"endTime":4872.0199999999995,"body":"because I met the guy a couple"},{"speaker":"Alan Smith","startTime":4868.87,"endTime":4872.0199999999995,"body":"of weeks ago, Andrew Craig. You"},{"speaker":"Alan Smith","startTime":4872.08,"endTime":4876.07,"body":"may have seen him apply. He's"},{"speaker":"Alan Smith","startTime":4872.08,"endTime":4876.07,"body":"got a, he's got a whole kind of."},{"speaker":"Alan Smith","startTime":4876.12,"endTime":4880.5,"body":"Of community, he's a"},{"speaker":"Alan Smith","startTime":4876.12,"endTime":4880.5,"body":"best-selling author. Does anyone"},{"speaker":"Alan Smith","startTime":4880.5599999999995,"endTime":4884.97,"body":"else know any best-selling"},{"speaker":"Alan Smith","startTime":4880.5599999999995,"endTime":4884.97,"body":"authors on this podcast? No, but"},{"speaker":"Alan Smith","startTime":4884.97,"endTime":4887.19,"body":"Andrew Craig is, and his"},{"speaker":"Alan Smith","startTime":4884.97,"endTime":4887.19,"body":"business is called Plain English"},{"speaker":"Alan Smith","startTime":4887.64,"endTime":4892.14,"body":"Finance. He broadly supports our"},{"speaker":"Alan Smith","startTime":4887.64,"endTime":4892.14,"body":"thoughts. He believes in"},{"speaker":"Alan Smith","startTime":4892.2,"endTime":4895.53,"body":"financial planning. He's not"},{"speaker":"Alan Smith","startTime":4892.2,"endTime":4895.53,"body":"100% sold on index investing. He"},{"speaker":"Alan Smith","startTime":4895.53,"endTime":4897.7699999999995,"body":"believes there are"},{"speaker":"Alan Smith","startTime":4895.53,"endTime":4897.7699999999995,"body":"opportunities, but he's got his"},{"speaker":"Alan Smith","startTime":4897.86,"endTime":4900.98,"body":"own. He's relatively recently"},{"speaker":"Alan Smith","startTime":4897.86,"endTime":4900.98,"body":"launched his YouTube channel,"},{"speaker":"Alan Smith","startTime":4901.01,"endTime":4902.99,"body":"and it's getting some"},{"speaker":"Alan Smith","startTime":4901.01,"endTime":4902.99,"body":"significant traction. I just"},{"speaker":"Alan Smith","startTime":4902.99,"endTime":4905.66,"body":"think it's really good. It's"},{"speaker":"Alan Smith","startTime":4902.99,"endTime":4905.66,"body":"worth checking out Andrew Craig."},{"speaker":"Alan Smith","startTime":4905.78,"endTime":4908.12,"body":"There's a link to in the show"},{"speaker":"Alan Smith","startTime":4905.78,"endTime":4908.12,"body":"notes, Plain English Finance,"},{"speaker":"Alan Smith","startTime":4908.69,"endTime":4911.12,"body":"and also he gave me a gift of,"},{"speaker":"Alan Smith","startTime":4908.69,"endTime":4911.12,"body":"he's got about two or three"},{"speaker":"Alan Smith","startTime":4911.24,"endTime":4914.75,"body":"books, but his, I think it's"},{"speaker":"Alan Smith","startTime":4911.24,"endTime":4914.75,"body":"originally the well-selling"},{"speaker":"Alan Smith","startTime":4914.84,"endTime":4917.0199999999995,"body":"book, yeah, How to Buy the"},{"speaker":"Alan Smith","startTime":4914.84,"endTime":4917.0199999999995,"body":"World, I think,"},{"speaker":"Andy Hart","startTime":4917.3499999999995,"endTime":4917.41,"body":"yeah,"},{"speaker":"Alan Smith","startTime":4918.34,"endTime":4921.13,"body":"which I guess is"},{"speaker":"Alan Smith","startTime":4918.34,"endTime":4921.13,"body":"what we believe in, buying the"},{"speaker":"Alan Smith","startTime":4921.19,"endTime":4925.12,"body":"world. So, check out Andy Craig"},{"speaker":"Alan Smith","startTime":4921.19,"endTime":4925.12,"body":"and Plain English Finance and"},{"speaker":"Alan Smith","startTime":4925.12,"endTime":4926.47,"body":"his YouTube channel. Thank you."},{"speaker":"Nick Lincoln","startTime":4926.62,"endTime":4930.97,"body":"Thanks. Mine is"},{"speaker":"Nick Lincoln","startTime":4926.62,"endTime":4930.97,"body":"from Abe's Abraham Aukens, and"},{"speaker":"Nick Lincoln","startTime":4931.0599999999995,"endTime":4936.21,"body":"news podcast and advisor 3.0 and"},{"speaker":"Nick Lincoln","startTime":4931.0599999999995,"endTime":4936.21,"body":"it's a, it's a live recording of"},{"speaker":"Nick Lincoln","startTime":4936.24,"endTime":4938.28,"body":"a session that took place at his"},{"speaker":"Nick Lincoln","startTime":4936.24,"endTime":4938.28,"body":"events, which happens the day"},{"speaker":"Nick Lincoln","startTime":4938.4,"endTime":4942.09,"body":"after Trapp Live in May, and"},{"speaker":"Nick Lincoln","startTime":4938.4,"endTime":4942.09,"body":"next year also we had Trap Live"},{"speaker":"Nick Lincoln","startTime":4942.12,"endTime":4946.11,"body":"again, and Abe's events the day"},{"speaker":"Nick Lincoln","startTime":4942.12,"endTime":4946.11,"body":"after. So make a big jolly in"},{"speaker":"Nick Lincoln","startTime":4946.17,"endTime":4948.69,"body":"the city if you want to. Anyway,"},{"speaker":"Nick Lincoln","startTime":4946.17,"endTime":4948.69,"body":"good session on AI, and their"},{"speaker":"Nick Lincoln","startTime":4948.75,"endTime":4952.41,"body":"guests on stage, Sarah Ruffs"},{"speaker":"Nick Lincoln","startTime":4948.75,"endTime":4952.41,"body":"Edge, Matt Pitcher, and Dan"},{"speaker":"Nick Lincoln","startTime":4952.47,"endTime":4958.8499999999995,"body":"Haylett, who's just some really"},{"speaker":"Nick Lincoln","startTime":4952.47,"endTime":4958.8499999999995,"body":"good content, and the empathy"},{"speaker":"Nick Lincoln","startTime":4958.94,"endTime":4961.04,"body":"delusion, and it was an"},{"speaker":"Nick Lincoln","startTime":4958.94,"endTime":4961.04,"body":"interesting discussion. Dan"},{"speaker":"Nick Lincoln","startTime":4961.0999999999995,"endTime":4963.68,"body":"Hale, saying don't think that"},{"speaker":"Nick Lincoln","startTime":4961.0999999999995,"endTime":4963.68,"body":"your advisors can swerve AI just"},{"speaker":"Nick Lincoln","startTime":4963.68,"endTime":4965.99,"body":"because you've got this empathy"},{"speaker":"Nick Lincoln","startTime":4963.68,"endTime":4965.99,"body":"thing going on with your"},{"speaker":"Nick Lincoln","startTime":4966.08,"endTime":4968.66,"body":"clients, because that's now I'm"},{"speaker":"Nick Lincoln","startTime":4966.08,"endTime":4968.66,"body":"not sure I necessarily agree"},{"speaker":"Nick Lincoln","startTime":4968.69,"endTime":4970.79,"body":"with it, but it's a really good"},{"speaker":"Nick Lincoln","startTime":4968.69,"endTime":4970.79,"body":"discussion. Maybe we're"},{"speaker":"Nick Lincoln","startTime":4970.91,"endTime":4972.71,"body":"listening, by the way, get the"},{"speaker":"Nick Lincoln","startTime":4970.91,"endTime":4972.71,"body":"bloody levels on your podcast"},{"speaker":"Nick Lincoln","startTime":4972.71,"endTime":4975.5599999999995,"body":"sorted out, they're so quiet at"},{"speaker":"Nick Lincoln","startTime":4972.71,"endTime":4975.5599999999995,"body":"the volume at max. Anyway,"},{"speaker":"Nick Lincoln","startTime":4975.98,"endTime":4976.37,"body":"that's mine."},{"speaker":"Andy Hart","startTime":4978.44,"endTime":4981.58,"body":"Okay, to close this"},{"speaker":"Andy Hart","startTime":4978.44,"endTime":4981.58,"body":"out. Show 100 I don't know if"},{"speaker":"Andy Hart","startTime":4981.64,"endTime":4984.37,"body":"you boys have come across this"},{"speaker":"Andy Hart","startTime":4981.64,"endTime":4984.37,"body":"podcast. It's run by Rick Rubin,"},{"speaker":"Andy Hart","startTime":4984.55,"endTime":4988.57,"body":"the famous music producer. It's"},{"speaker":"Andy Hart","startTime":4984.55,"endTime":4988.57,"body":"called Tetragrammaton, or"},{"speaker":"Andy Hart","startTime":4988.69,"endTime":4994.03,"body":"Tetragrammaton. He's got Bill"},{"speaker":"Andy Hart","startTime":4988.69,"endTime":4994.03,"body":"Gurley on recently, who is a"},{"speaker":"Andy Hart","startTime":4994.24,"endTime":4998.37,"body":"step-in on the All In podcast."},{"speaker":"Andy Hart","startTime":4994.24,"endTime":4998.37,"body":"Very smart, smart individual, I"},{"speaker":"Andy Hart","startTime":4998.4,"endTime":5001.58,"body":"like to listen to, so check it."},{"speaker":"Andy Hart","startTime":4998.4,"endTime":5001.58,"body":"Yeah, the Tetragrammaton podcast"},{"speaker":"Andy Hart","startTime":5001.61,"endTime":5005.0,"body":"is amazing. He gets some really"},{"speaker":"Andy Hart","startTime":5001.61,"endTime":5005.0,"body":"interesting characters to his"},{"speaker":"Andy Hart","startTime":5005.39,"endTime":5008.96,"body":"Malibu ranch, and they have good"},{"speaker":"Andy Hart","startTime":5005.39,"endTime":5008.96,"body":"conversations about various"},{"speaker":"Andy Hart","startTime":5008.99,"endTime":5011.72,"body":"things. So, do check the whole"},{"speaker":"Andy Hart","startTime":5008.99,"endTime":5011.72,"body":"podcast out. But specifically,"},{"speaker":"Andy Hart","startTime":5011.75,"endTime":5014.24,"body":"the one I mentioned, it is Bill"},{"speaker":"Andy Hart","startTime":5011.75,"endTime":5014.24,"body":"Gurley. Thank you very much."},{"speaker":"Andy Hart","startTime":5014.36,"endTime":5017.23,"body":"Over and out. Goodbye. See you."},{"speaker":"Andy Hart","startTime":5014.36,"endTime":5017.23,"body":"Episode 200 Nicholas. Indeed,"},{"speaker":"Nick Lincoln","startTime":5017.44,"endTime":5018.55,"body":"there's indeed"},{"speaker":"Nick Lincoln","startTime":5017.44,"endTime":5018.55,"body":"your Trappers. Thank you. As"},{"speaker":"Nick Lincoln","startTime":5018.61,"endTime":5024.22,"body":"episode 100 thing disappears on"},{"speaker":"Nick Lincoln","startTime":5018.61,"endTime":5024.22,"body":"the view, Benda, Father Time,"},{"speaker":"Nick Lincoln","startTime":5024.28,"endTime":5026.38,"body":"it's Adios. Take care out there."},{"speaker":"Nick Lincoln","startTime":5024.28,"endTime":5026.38,"body":"We'll see you on the other side."},{"speaker":"Nick Lincoln","startTime":5026.74,"endTime":5030.16,"body":"Goodbye. Thank you for your"},{"speaker":"Nick Lincoln","startTime":5026.74,"endTime":5030.16,"body":"support and love over the last"},{"speaker":"Nick Lincoln","startTime":5030.3099999999995,"endTime":5031.57,"body":"100 episodes."},{"speaker":"Alan Smith","startTime":5032.53,"endTime":5033.55,"body":"Thank you. Goodbye."},{"speaker":"Alan Smith","startTime":5032.53,"endTime":5033.55,"body":"100"},{"speaker":"Carl Widger","startTime":5034.0,"endTime":5034.66,"body":"and counting,"},{"speaker":"Alan Smith","startTime":5038.83,"endTime":5040.7699999999995,"body":"amazing. Amazing, we"},{"speaker":"Alan Smith","startTime":5038.83,"endTime":5040.7699999999995,"body":"got through that. Amazing,"},{"speaker":"Andy Hart","startTime":5040.92,"endTime":5042.84,"body":"that was rocky stuff."},{"speaker":"Carl Widger","startTime":5044.28,"endTime":5044.37,"body":"100"}]}