Story of the Week

Think your traditional "delegating model" will captivate Gen Z investors? Think again! This astute generation, poised to inherit an astounding £5.5 trillion over the next 30 years, seeks more than outdated services. 📉 According to World Economic Forum studies, the rise of "finfluencers" has revolutionised the landscape. Information asymmetry is a thing of the past. The new mantra? Empowerment, autonomy, and DIY financial management in a commoditised market. 💪 To ensure your business remains relevant in the coming decades, explore our latest article to understand the importance of moving beyond product intermediation. Holistic financial planners, your time to shine is now! 🌟 Read more. 📈😅

Editor, The Weekly Waffle

Hello, I'm Steve Conley, the visionary transforming financial planning into the exhilarating journey you never anticipated 🎢✨. With a blend of boldness, wisdom, and an unwavering drive to challenge the norm, who would have thought that upholding financial integrity could be this exciting?

Good morning, ##firstname##!

Take a seat, everyone, because it's time for the latest installment of the Friday Lunch Bunch! 🍽️ Relax, enjoy, and prepare yourself for a feast of news you never knew you needed. Today, we've assembled an engaging selection of topics to offer a welcome diversion from your daily routine. Without further ado, here are the headlines. 😏

Your selected articles

🔔 Overwhelmed by Regulatory Reporting? Hello, Academy members! 🖐️ Feeling swamped by an endless stream of paperwork? 📑💼 Do the FCA's regulatory demands have you more stressed than a cat at a dog show? 🐱🐶 You're not alone! The burden can indeed be daunting. 🏳️ But wait! 🤔 Instead of letting this push you to the edge, why not consider a daring shift? 🚀 Retire from regulated advice, but not from the impactful projects that ignite your passion. 🌟 Your future self will thank you for taking decisive action now. 🤸‍♂️

 🌟  Read more. 📈😅

Financial Service Industry Not Recommended. Recent research from Medius, as reported in FT Adviser, reveals a notable trend in the financial sector: nearly three-quarters (72 percent) of finance professionals in the UK are actively seeking jobs outside their current field. 📊🚪 Furthermore, 75 percent would not recommend a career in finance to Generation Z. 🚫👩‍💼 This sentiment stems from several factors, including better compensation in other industries, 💰 high levels of burnout, 🔥 and a decreasing sense of job security. 🔒🚀 Read more. 📈😅

Empowerment, Not Delegation. Guess what? The era of “just leave it to us” financial planning is coming to an end. Baby Boomers loved it, but our younger generation? Not so much. They want to take control themselves! 💼💪 If you're relying on old methods, thinking AUM strategies will save you, think again. The £5.5 TRILLION Great Wealth Transfer is on the horizon, and guess who's going to benefit? That's right, the non-intermediating financial planners who genuinely empower their clients! 🤑✨ 📰 Read more. 📈😅

🌞👴💻 Think retirement means hanging up your work boots forever? Think again! 🛑👢 Our latest article uncovers the surprising truth about retirement. Spoiler alert: It's not all cocktails and beaches. 🏖️🍹 More than 3 million people over 50 in the UK have unretired and gone back to work. Why? It's not just for the 💰 (though that helps with rising costs 📈). Well-being and a sense of purpose are significant motivators too! 🧠❤️ Discover why part-time or seasonal work is the new retirement plan and how you can find flexible work that feels more like fun than a chore. 🎉🤹‍♂️ And yes, it includes those well-deserved siestas. 😴☀️✨  Read more. 📈😅

The CII and PFS’s insistence that members must be on the FCA’s register of intermediaries to retain their titles underscores a critical oversight. ⚠️ By equating financial planning with the sales-driven world of financial intermediation, 💼 they are alienating professionals dedicated to holistic financial planning advice. 🌍📊 This misalignment not only undermines the integrity of financial planning as a profession but also discourages new entrants from pursuing careers in this essential field. 🚫👩‍💼👨‍💼🌟 Read more. 📈😅

👀 Curious about the future of financial advice? Spoiler alert: it's robotic. 🤖 At the 2024 Artificial Intelligence in Financial Advice conference, we learned that half of the advisers aged 58+ are planning their exit strategy. Why? Because AI is about to do their job for free. Our advice? Focus on the human touch – psychology, behavioral science, and genuine client care. Plan the client before you plan the money. 💡❤️ 🌟 Read more. 📈😅

Labour recognises the financial services sector as one of Britain’s greatest success stories. 🇬🇧 Their manifesto and the January 2024 publication, Financing Growth: Labour’s Plan for Financial Services (“Financing Growth”), emphasise the sector’s importance and Labour’s commitment to supporting it. 📚 Key points include: Championing the financial services sector as a cornerstone of the UK’s economy. 🏦💪, A commitment to stability, predictability, and balanced regulation. ⚖️🔄, Ensuring a regulatory environment that fosters competitiveness and growth. 🚀📈. Labour aims to position the financial services sector as the engine of growth in the UK economy, leveraging the country’s strengths in green finance and innovation. 🌱💡

🌟 Read more. 📈😅

MoneyFitt Focus: Are you ready to take control of your financial future? 🌟💼 We've just released a powerful article on the importance of creating an impartial financial education hub. 🏛️📚 This hub aims to provide unbiased, high-quality financial education, free from the influence of financial firms. It's all about empowering YOU to make informed decisions and achieve financial success! 💪💰 🔍 Why does this matter? 📘 Empowerment Through Knowledge: Learn financial concepts without biased interests. 💡 Financial Agency: Take control of your finances with confidence. 📈 True Financial Literacy: Understand saving, investing, and planning for your future. ⚖️ Leveling the Playing Field: Ensure everyone has access to top-notch financial education. Discover how initiatives like MoneyFitt are leading the way in providing affordable, unbiased financial education for just £2.99/month per user. 📊👩‍🏫 🌟 Read more. 📈😅

HapNav Focus: Tired of the old, broken model where clients just hand over their assets and hope for the best? 😒 It's time for a change. The future of financial planning is all about empowering clients to take control of their own finances. 🧠💪 Enter HapNav - The Happiness Navigator! 🎉 This revolutionary tool gives your clients the power to be their own wealth managers. No more blindly trusting the so-called "experts" to dip into their hard-earned money for fees. 🙄

With HapNav, your clients will:
🔹 Increase their financial literacy
🔹 Activate their financial potential
🔹 Gain true agency and control over their finances
🔹 Fully own their financial planning process

It’s time to trust in personal power and financial ownership. It’s the way things should be. 🌟 Join the revolution and start equipping your clients with HapNav today. Because giving them the right tools is just the beginning of a financially empowered future. 🚀🌟 Read more. 📈

📝 Are You Prepared for Retirement? 🏦

As we approach a pivotal moment for many of us, it's crucial to ask ourselves if our current pension contributions will be enough. With auto-enrolment, millions will retire in 10 years, but will 8% of your pay suffice for a comfortable retirement?

🔍 In our latest blog, we explore the expectations versus reality of auto-enrolment pensions and the additional steps you might need to take. Beyond the State Pension, will you need to continue working, rely on other income sources, or live more frugally?

📊 The time to decide is now. Don't wait until it's too late to discover you haven't saved enough. Learn more about securing your financial future today. Read more.

The economic masterminds are at it again! 🏛️💼 Here's an interesting read about the grand plan for wealth creation—spoiler alert, it's not what you think! 🙄 We dive into the intricate tale of balancing income, expenditure, assets, and liabilities (yawn, right?). But wait, there's more! 🎉 Instead of focusing on helping you increase your wealth, some lobbyist groups are busy protecting their own interests. Shocking, I know. 😲🙃 While they're advising us to tighten our belts and save, they're conveniently ignoring the "earning more" aspect. 🤔💭 Savings are important, but what about not having to choose between rent and groceries? 🍞🏠 Join the conversation about how we can genuinely promote well-being (for everyone, not just the elite) and create a fair, transparent, and inclusive financial system. 💡🤝🌟 Read more. 📈😅

🚨 Alert: Asset Hoovering in Financial Advising 🚨 An adviser is boasting on LinkedIn about increasing their managed funds by 1,150% in 5 years. 🤑 Impressive, right? Think again! 🤔 🔍 Let's break it down:

Fees: £30k annually in initial fees, £40k rising to £500k in recurring revenue. 💸

Client outcomes: Zilch. Nada. Nothing. They've made no real money for clients. 📉

And here’s the kicker: clients could have done the same (or better!) by investing directly in the market! 🤷‍♂️ But wait, there’s more! 🎩✨ Advisers often justify their fees with:

1️⃣ Lower fees (after their own hefty cut, of course) 💼

2️⃣ Market-beating returns for risk (sounds too good to be true? It is) 🎢

3️⃣ Matching investments to risk profiles (duh!) 📊

4️⃣ Consolidation for “easier tracking” (more like easier fee collection) 📋

5️⃣ Unlocking pension freedoms (freedom for whom?) 🔓

6️⃣ Socially Responsible Investing (but is it really?) 🌱

🔴 Bottom line: This isn’t a success story; it’s a hall of shame. Why should asset hoovering be celebrated when it’s just taking advantage of naive clients? 🤦‍♂️

🌟 Read more. 📈😅

My work is "open source," so feel free to plagiarize, copy, and share as much as you like.

Thanks for being an Academy subscriber. Your membership keeps newsletters like this one coming, and we want to ensure you’re getting every bit of value from your subscription.

Member Live Events:

1. VOD HapNav Mastery 👋 How to use the worlds first end-user cash flow modeller with open banking inside!!!

Tired of the old, broken model where clients just hand over their assets and hope for the best? 😒 It’s time for a change. The future of financial planning is all about empowering clients to take control of their own finances. 🧠💪

Enter HapNav - The Happiness Navigator! 🎉 This revolutionary tool gives your clients the power to be their own wealth managers. No more blindly trusting the so-called "experts" to dip into their hard-earned money for fees. 🙄 With HapNav, your clients will:

🔹 Increase their financial literacy

🔹 Activate their financial potential

🔹 Gain true agency and control over their finances

🔹 Fully own their financial planning process

It’s time to trust in personal power and financial ownership. It’s the way things should be. 🌟 Join the revolution and start equipping your clients with HapNav today. Because giving them the right tools is just the beginning of a financially empowered future. 🚀

It’s time for the era of financial empowerment to begin. 🏆

👉 Available to view now Video-On-Demand.

2. VOD Partner Parade: My Financial Future

Do you find yourself lost in the wilderness of cash flow models? Is your wallet being held hostage by high-end financial planners? 😩 Well, have we got news for you! Our VOD might just change your financial planning life. Or at least make it a bit more bearable. 📊

Introducing My Finance Future – the mid-priced hero we've all been waiting for. Not as pricey as those high-end planners like Voyant, Timeline, Truth, Cash Calc, but definitely more sophisticated than HapNav. Perfect for those "in the middle" complexity clients who just want a straightforward way to keep track of their finances. 💸💡 What's in it for you? 🤔

Expert Insights: Hear from the one and only Richard Squire, Founder & CEO, who will share his wisdom (or at least his PowerPoint slides).

👉 Available to view now Video-On-Demand. We promise it will be worth the effort (or at least better than binge-watching yet another series). 📅✨

3. CPD Masterclass: Wed 14 Aug 2:00 PM

The Longevity Coach

Attention, all you longevity enthusiasts and financial planning aficionados! 🕒 Mark your calendars for Wed, 14 Aug at 2:00 PM, because our next CPD Masterclass, "The Longer Life Practitioner," is coming in hot. 🔥

In this session, our Game Plan Coach will walk you through the art of living longer and better. Forget the early retirement dreams; we're talking about investing in 'vitality assets'—yes, that's a thing. 💪💡 From mind, body, heart, and spirit, we’ll show you how every choice impacts your well-being and finances.

We’ll explore how to balance physical, emotional, mental, and spiritual assets with your financial resources over a lifetime. And yes, some choices are like bad tattoos—permanent. So, mindfulness is key here. 🧘‍♂️💸 Inspired by Sir Muir Gray’s 'Living Longer Better' programme, we'll discuss how staying economically active in later years trumps the old 'cliff edge' retirement models. 📉💼

This session is your toolkit for guiding clients toward a balanced, fulfilling life that embraces both longevity and financial savvy. 🛠️📈

Join us on Zoom: When: Aug 14, 2024 02:00 PM London Register here: Zoom Registration Link

After registering, you’ll get a confirmation email with all the juicy details about joining the meeting.

Don't miss out—let's make those later years the best ones yet! 🌟💪

🍷🚪 Curtain Call, Town Hall Warriors!

You’ve just survived another round of the Academy’s infamous Friday Lunch Bunch. 🏆 Scatter freely, but oh—plot twist: there's homework. Because of course, there is. 📚 Check out the hyperlinks we’ve tossed around like a trail of digital breadcrumbs. 📎 Consider the gossip mill officially closed for the week.

If you’re craving a blast from the past, browse through our legendary pranks or book your seat for the next session of chaos on July 26th, 2024, at 12 PM London time. 🎟️🕛

That’s it for today’s banter broadcast. Until next time, keep those waffles waving! 🧇

Take Care,

Steve 

Academy of Life Planning 🧀

Email: steve.conley@aolp.co.uk

P.S.Buckle up, financial adventurers, and dive into the latest blog from the Academy of Life Planning (AoLP) – your self-proclaimed partner in transformational financial life planning. 🌟📚 Here, they’re not just dishing out financial advice; they’re transforming lives with the finesse of a life coach wielding a spreadsheet. It’s not just about money; it’s about finding your inner financial peace in a world where peace comes with a price tag. So, check out their latest post and learn how to turn your financial dreams into reality—or at least a well-organized plan. Happy navigating! 🚀💼  Academy of Life Planning: Your Partner in Transformational Financial Life Planning

P.P.S. If you know anyone who would like to be added to our mailing list, please share this link.

Websites: Academy of Life Planning, Planning My Life, Financial Life Coach, Steve's Blog.

Copyright the Academy of Life Planning Limited 2024. Contact us by email at info@aolp.co. The Academy of Life Planning Limited is a service sector trading company regulated by the Competition and Markets Authority and Registered in England and Wales number 8016568. Registered office address 9 Franklin Way, Spilsby, Lincolnshire, PE23 5GG, United Kingdom. Information Commissioner's Office reference number ZA502687.

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