In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including Della Voce’s 50th party, 12% commission for bust DFM, painful banking for IFAs, Vanguard’s 365 program, L&G workplace pension going into private equity, potential TRAP Tough Mudder team, Taylor Swift takes over Ireland, Debbie Condon’s LOA guide goes online, wasteful public pensions
• Meat and Potatoes: The Greatest Scandal of All
• Questions posted by beloved TRAPist Catherine Morgan: https://www.linkedin.com/in/catherine-morgan-a762a413/
• Culture Corner

Links referred to in the show:

• Della Voce’s 50th party, 12% commission for bust DFM, painful banking for IFAs, Vanguard’s 365 program, L&G workplace pension going into private equity, potential TRAP Tough Mudder team, Taylor Swift takes over Ireland, Debbie Condon’s LOA guide goes online, wasteful public pensions
• AH - The football, England 3 games away from lifting the trophy.
• Carl’s big birthday: https://www.youtube.com/shorts/SVTHjdpcFXU
• All - advising on potential changes – removal of TFC, pre funding school fees etc
• CW: 12% commission for bust DFM https://citywire.com/new-model-adviser/news/dfm-directors-banned-for-69m-commission-driven-bond-scheme/a2445021?re=121444&refea=1287904&link_id=1652775
• NL - business banking thread in IFA Forum: good reports on Revolut, NatWest/Mettle, Lloyds. Very negative on Santander. Tide, Metro and Starling blow hot and cold.
• AS - Be Long https://www.be-long.co/
• CW: Vanguard 365 Practice Management https://www.vanguard.co.uk/professional/vanguard-365/practice-management/marketing/how-to-build-your-professional-investor-bran
• AH - L&G Workplace pensions to be diverted into private equity https://www.thetimes.com/article/22a4b825-b0ab-443c-b84b-80c55fb6e6ad?shareToken=544da25f69a4c890d0ca6acbb7f806ad
• AS - TRAP Tough Mudder Team.
• DFA resources https://www.dimensional.com/gb-en/financial-professionals/dimensional-360/business-strategy
• CW: Taylor Swift hits Ireland
• NL - Debbie Condon’s LOA guide goes online. It’s £4pm plus VAT: https://www.intuitivesupportservices.com/register
• AS - Index Fund Advisors article https://www.ifa.com/articles/scandalo

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

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In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including Storyteller’s Munich Massacre, useful online calculators, ATR questionnaires for three year olds (!), MPs and double standards (!), nomination of beneficiary woes, Vanguard TRAP seminar feedback, Ade Edmondson investment gaff
• Meat and Potatoes: Of Tournaments and Trophies: The Awards Industry
• Questions posted by our beloved TRAPist Tom N
• Culture Corner

Links referred to in the show:

• NL: reminder of how useful Hargreaves L online calculators are: https://www.hl.co.uk/pensions/tax-relief/calculator
• CW: Central Bank of Ireland “Dear CEO” letter critical of compliance standards: https://www.independent.ie/business/personal-finance/brokers-heavily-criticised-for-poor-practices-by-central-bank/a1180315516.html?mc_cid=560d48dbac&mc_eid=f47c629345
• AH - MPs accused of double standards over pension scheme Only 1% of parliamentary retirement fund is invested in UK equities, despite politicians talking up the case for investing in Britain https://www.thetimes.com/article/705a7372-86cc-4bf4-af88-b4b5db9ff9ce?shareToken=5c0f02e19a8c5e3b990c965b10d058c8
• NL: WSJ story on nomination of beneficiary horror tale: https://www.wsj.com/personal-finance/inherited-retirement-savings-beneficiary-breakup-divorce-849e3ff2?st=r25xsho331jpvgg&reflink=desktopwebshare_permalink
• AS - Vanguard TRAP Webinar on Adviser Alpha (300 registered - 200 attended live) Recording available https://event.on24.com/wcc/r/4584722/8D0D76D89A13CF7D9AF43C6FD0F9DD84
• AH - Credit Suisse Global Investment Returns Yearbook 2023 - https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/credit-suisse-global-investment-returns-yearbook-2023-summary-edition.pdf - JP Morgan, Barclays, CS, all conclude the markets beats any humans
• NL: Adrian Edmondson, another celebrity/influencer/endorser of property over pensions/GCOTW: https://www.linkedin.com/posts/kusalariyawansa_property-stockmarket-ugcPost-7206179916441104388-Hc_p?utm_source=share&utm_medium=member_desktop
• AH - The C Wor

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

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In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including BTC ETFs coming here, insurance payouts from Royal London, SPIVA Persistence, Bank of Ireland saving rate rises, pension dashboard (really dull), Canada Pension Plan active follies, Abrdn price cuts
• Meat and Potatoes: Politics - do you or don’t you?
• Questions posted by our beloved TRAPist www.twitter.com/DomSpalding
• Culture Corner

Links referred to in the show:

• Vanguard TRAP landing page: https://www.vanguard.co.uk/professional/insights-education/events-webinars/vanguard-at-the-real-adviser-podcast
• Timeline TRAP landing page: https://www.timeline.co/trap-live
• CW: The US TRAP?! The Unlock https://www.youtube.com/watch?v=5GP-laLIlss
• AS - BTC ETFs arrive in the UK
• https://www.ft.com/content/76e9ecf3-4429-42c5-a945-43ab92abfda4
• AH Royal London 2023 claims payout - https://adviser.royallondon.com/protection/our-claims-record/
• NL: Neil Woodford’s excellent piece on the decline of the UK stock market (as covered by us in episode 17) (https://www.buzzsprout.com/2056762/12602273)
  https://www.woodfordviews.com/post/a-quarter-century-of-damaging-reforms
• AS - SPIVA Persistence Report Card https://www.spglobal.com/spdji/en/spiva/article/europe-persistence-scorecar
• CW: Bank of Ireland raises interest rates https://www.rte.ie/news/business/2024/0529/1451872-bank-of-ireland-deposit-rates/
• AH - Pension Dashboards - Aviva and Scottish Widows plan to become official pensions dashboard operators, joining a coalition of companies seeking to breathe life into the long-delayed project. https://www.thetimes.co.uk/article/aviva-and-scottish-widows-to-join-pension-dashboard-coalition-55f5ctfnf
• NL: Canada Pension Plan Fund tale of active woe: https://www.theglobeandmail.com/opinion/article-eighteen-years-and-46-billion-later-the-cpp-admits-it-could-have/
• AS Abrdn price cut - are we heading to 100 bps all in? AH YES WE ARE.
• AH - Motem - client journey Melissa Kidd - https://motem.co.uk/ Ace Your Annual R

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

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TRAP Live!

This is a TRAP episode recorded on 9th May 2024 in front of 140 adoring TRAPists at Lola's, the louche, loose, slightly dangerous bar in the underground caverns of the world-famous London Hippodrome casino.

Our sources confirm that this is the first (last?) UK financial services-related live podcast held in the UK and, secondly, there has never been any financial services event in the UK involving so much alcohol.

The show follows the normal format, albeit in a slightly more "shambolic" fashion than normal.

At the end, there's a bonus 30-minute Q&A session where the TRAP Pack fields an assortment of idiotic questions from our beloved TRAPists.

Thanks to Emmelia Powell for emceeing the chaos and Dan Haylett for his excellent pre-recording presentation. And lots of love for our event partners (with special TRAP-focused landing pages), Vanguard and Timeline.

No thanks at all to the striking train drivers. Bring on the robots.

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

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So today is TRAP Live, and we can't put out a show. Fear not, TRAPists, the live show is being recorded and will come out in two weeks, on 23rd May, Episode 45.

For the moment, here's a compilation of bits from previous episodes. Enjoy!

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

• Subscribe and Like our YouTube Channel
• Leave a 6/5 star review on iTunes
• Share TRAP with your peers and colleagues
• 'Enjoy' the Twitter chat at @AdviserPodcast.

In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including the imminent TRAP Live event, superb service, FCA fee review update, Ultra’s new book (yes, really), Voice’s “planning” week, more Irish investment fraud
• Meat and Potatoes: Bricks and Torture
• Questions posted by our beloved TRAPist Patrick Duggan
• Culture Corner

Links referred to in the show:

• Meanwhile, service standards elsewhere are awful: https://www.ft.com/content/0a5d30ed-164f-4b9f-a049-fc9692219f79
• CW: Investment fraud https://www.rte.ie/news/2024/0405/1441779-investment-fraud/
• NL: Leveraging Wealth: The Advice Amplified podcast with IFA Pete Ridlington.Property vs. Equity: Tej Singh: https://pca.st/736pxk89
• Keeper Security over LastPass? https://www.keepersecurity.com/en_GB/ H/T to Jon Doyle www.twitter.com/juniper_jon
• Diary of a CEO - Jimmy Carr: "I've Found The Cure For My Anxiety!" https://www.youtube.com/watch?v=uHLAazKUU68
• CW: David McWilliams Podcast - interview with Michael Lewis re SBF https://podcasts.apple.com/ie/podcast/the-david-mcwilliams-podcast/id1462649946?i=1000651097893
• AS - Brett Davidson newsletter https://fpadvance.com/blog/

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

• Subscribe and Like our YouTube Channel
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• Share TRAP with your peers and colleagues
• 'Enjoy' the Twitter chat at @AdviserPodcast.

TRAP LIVE IS HAPPENING ON 9th MAY 2024. BUY TICKETS HERE: www.therealadviserpodcast.com

In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including Paddy Andrews Métis Norway appt, US$90 trillion to move between generations, surge meeting review, SPIVA S&P Global, the passing of Danny Kahneman, another unregulated investment scheme goes belly up, Ali Hussain in the Sunday Times on adviser fee refunds
• Meat and Potatoes: AI
• Questions posted by our beloved TRAPists www.twitter.com/@SamColbyButcher and https://www.linkedin.com/in/janemcaleese
• Culture Corner

Links referred to in the show:

• CW: Paddy Andrews appointed Director at Metis Ireland: https://businessplus.ie/news/metis-ireland-paddy-andrews/
• NRL: 4 million US citizens will turning 65 every year until 2030. “A study from Knight Frank details that over $90 trillion in assets will move between generations over the next 20 years.”: https://www.morningstar.com/financial-advice/record-number-americans-are-turning-65-thats-great-news-financial-advisors?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_advisordigest&utm_content=52931
• AH surge meeting season over, thoughts, reflection, points to note.
• CW: Would a round table of active fund managers say the same? https://citywire.com/new-model-adviser/news/do-etf-bosses-invest-in-their-own-products/a2439481?re=118846&refea=1287904
• AH - Spiva S&P Global - https://www.spglobal.com/spdji/en/research-insights/spiva/
• NRL: “For all his knowledge of how foolish investors can be, Danny didn’t try to outsmart the market. “I don’t try to be clever at all,” he told me. Most of his money was in index funds. “The idea that I could see what no one else can is an illusion,” he said.
• “All of us would be better investors,” he often said, “if we just made fewer decisions.” Jason Zweig (paywall) article on the late Danny Kahneman: https://www.wsj.com/finance/investing/daniel-kahneman-behavioral-economics-270c9797?mod=djintinvestor_t
• CW: Solar 21 going pear-shaped despite “ray of light” last summer: https://www.independent.

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

• Subscribe and Like our YouTube Channel
• Leave a 6/5 star review on iTunes
• Share TRAP with your peers and colleagues
• 'Enjoy' the Twitter chat at @AdviserPodcast.

TRAP LIVE IS HAPPENING ON 9th MAY 2024. BUY TICKETS HERE: www.therealadviserpodcast.com

In this latest pile of TRAP, the Trap Pack discuss

• Topical issues, including Finish fables, JISA joys, Leffler love, cheap online tax-returns, total returns mean dividends, FCA thematic review #1,242, True Potential CEO says the quiet part out loud
• Meat and Potatoes: Clients or Customers?
• Questions posted by our beloved Steven S www.twitter.com/passivevanguard
• Culture Corner

Links referred to in the show:

• Edward Leffler: https://www.ft.com/content/6d4f870c-f39a-4a06-a18f-f1e65484f35a
• AH - https://www.taxd.co.uk/ Easy/Cheap Tax Filing. NL on this: should 40% PAYE taxpayers trust HMRC or should they self-assess as a matter of course?
• CW: Idea for your advisory firm ….. Metis 5K Fund Run for Charity https://www.linkedin.com/feed/update/urn:li:activity:7173968807340691458
• AS - total returns https://www.timeline.co/blog/is-the-ftse-100-misleading
• NL - 100 years of Edward Leffler’s transformational idea: https://www.ft.com/content/6d4f870c-f39a-4a06-a18f-f1e65484f35a
• AH - FCA - Article - Undertaking cashflow modelling to demonstrate the suitability of retirement-related advice https://www.fca.org.uk/firms/undertaking-cashflow-modelling-demonstrate-suitability-retirement-related-advice
• CW: Metis Ireland is hiring https://www.linkedin.com/feed/update/urn:li:activity:7176905922131173376
• AS FCA Thematic Review / AS - Fees for no service https://www.fca.org.uk/publication/thematic-reviews/tr24-1.pdf
• CW: Most clients don't need advice according to True Potential CEO https://citywire.com/new-model-adviser/news/true-potential-ceo-its-very-rare-our-clients-need-advice/a2438636?re=118418&ea=1287904&utm_source=BulkEmail_NMA_Daily_Single_EAM&utm_medium=BulkEmail_NMA_Daily_Single_EAM&utm_campaign=BulkEmail_NMA_Daily_Single_EAM

Take part in the conversation! We want YOU to suggest topics and questions you’d like the Trap Pack to answer. The best way to do this is to ask them here.

Help us to help you! The more followers we have, the more we can do stuff going forward. So please:

• Subscribe and Like our YouTube Channel
• Leave a 6/5 star review on iTunes
• Share TRAP with your peers and colleagues
• 'Enjoy' the Twitter chat at @AdviserPodcast.