TRAP: The Real Adviser Podcast

83 - The Future of TRAP

Nov 6, 2025
The hosts dive into the future of financial advising, discussing Standard Life's move to include private assets and the associated risks for average clients. They also critique Deloitte's AI report, cautioning against over-reliance on technology. A survey reveals the impact of trust on client retention, sparking dialogue on check-in strategies. Plans for expanding the community include a Trap Academy and intensive learning retreats. Finally, they touch on cryptocurrency trends and recommend compelling podcast picks.
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INSIGHT

Retail Funds Adding Private Assets

  • Standard Life is adding private assets (PE, real estate, private debt, VC) into managed funds with a performance fee on that slice.
  • The Trap hosts warn this dilutes liquidity and may not suit average clients given low hurdles and added complexity.
ADVICE

Always Verify Fund Liquidity Terms

  • Check fund terms and liquidity thoroughly before using managed funds that include private assets.
  • Ask how redemptions work and whether the fund can be gated during stress.
INSIGHT

Magazine Covers Often Signal Crowded Trades

  • Media front-page recommendations tend to be contra-indicators for asset timing.
  • The hosts note buying articles often signal peak enthusiasm and worse future returns.
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