TRAP: The Real Adviser Podcast 63 - We Need To Talk About Trump
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Jan 30, 2025 In a lively discussion, the hosts tackle the shifting landscape of financial advisory, from charging for initial meetings to the rise of digital wills. They dissect the intricacies of Tax Freedom Day, exposing its significance in today's economy. A deep dive into the political implications of leaders like Trump prompts reflections on integrity and ethics in business. They also explore the delicate balance of wealth and social responsibility, and ponder the challenges of seeking longevity in life choices. It's an engaging mix of humor and serious insights!
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GIA Transfer Loophole
- Advisors can specify the acquisition cost of assets in GIA transfers, controlling capital gains calculations.
- This process relies on self-reporting and could be exploited by unscrupulous advisors.
Charging for First Meetings
- Alan Smith discusses Phil Bray's LinkedIn poll about charging for initial client meetings.
- Some advisors charge, viewing it as valuable time spent providing information.
Millionaires Fleeing Britain
- 10,000 millionaires left Britain in the last year, over double the previous year's figure.
- This concerning trend coincides with surging job cuts, potentially linked to tax hikes.
