How to Maximize Your Life’s Work & Retire Happy

In this fast-paced webinar, Duncan MacPherson was joined by Sherri Palle, one of Pareto’s most experienced Coaches. Sherri has worked with many Pareto clients on preparing for their succession and building out their exit plans, ensuring they capitalize on their life’s work.

Sherri and Duncan discussed:

• What are the highest contributors to building enterprise value?
• What can I start doing now to plan for my eventual exit?
• How do I ensure my legacy is intact long after my exit?

Click here to access the replay of it, and other, previous webinars

There’s a very simple mantra that every business is built to be sold. We all know the concept of forced savings, using a reliable process to create a nest egg for ourselves, and we advise our clients to do the same. Every investment of effort you make working on your business contributes to "forced savings." A synergy arises when you do this, and things come together to drive your enterprise value.

Tune into the ‘Always On with Duncan MacPherson Podcast’ for insights and strategies on increasing your business’s enterprise value from industry leading experts by clicking here: www.paretosystems.com/podcast

Have you considered going franchise ready - or are you already in the process? At Pareto Systems we help clients transition from an organic growth model to a scalable growth model - with minimal friction.

Many transitioning clients ask us “How can I find someone that aligns with my team, will contribute to our growth strategy, and will continue with us for the long-term?” Through our Building Exception Teams process, we help set many Advisory Teams up for the best possible outcomes.

To learn more about our Building Exception Teams process schedule a call and talk to one of our experts, click here: www.paretosystems.com/schedule-a-call

Growing up-market, consistently attracting very attractive clients and all the considerations that go into that, include sometimes growing down and either automating certain relationships, allocating certain relationships to different people on the bench, or in some cases, disassociating completely.

Tune into the latest episode of Always On, where Pareto Systems Business Consultant Terry Gronbeck-Jones shares how he helps financial advisory teams improve and grow their business by clicking here: https://paretosys.co/AODM_ep37

In a recent conversation with a client, I told them, ’I want you to set a goal to have 52 long weekends. And in the next five years, I want you to set a goal to have a six-month sabbatical.’

Your business is supposed to serve your life, not the other way around! But how can you achieve that? How do you build processes and systems where you don’t have to be actively involved all the time?

Pareto Systems Business Consultant Terry Gronbeck-Jones and Duncan MacPherson discuss how to make this happen in the latest episode of Always On.

Tune in now: paretosys.co/AODM_ep37

Avoiding a Plateau: A Case Study in Professional Contrast and Scarcity with Terry Gronbeck-Jones

This can require advisors to adopt changes that seem counterintuitive at first - such as disassociating from certain clients.

In this episode, Duncan MacPherson talks to Terry Gronbeck-Jones, co-founder of Mindset Consulting and a business development consultant at Pareto Systems. They highlight the benefits of right-sizing and explain how to approach it effectively.

They discuss:

• Major barriers to right-sizing (and how to overcome them)
• How to communicate your decision to disassociate with clients such that it enhances your brand
• How to position your network of COIs in front of clients
• Hidden opportunities in questions such as “What do you do for a living?” or “Do you have a minimum?”
• And more

Stream the new episode of Always On by clicking here: https://paretosys.co/AODM_ep37

Asking for referrals can be perceived negatively by clients, and can reflect poorly on you and your team. The goal is to leverage your client’s desire to be helpful to others, and position the concept of a referral as a value added service that you provide to the friends and family members of your clients. Encourage your clients to introduce you when the right situation arises, and ensure they clearly understand the process on how to proceed with an introduction.

Do you have a process in place for client introductions? No, what other Opportunity Gaps do you have? Find out, take our free PMI Assessment today by clicking here: www.practicemanagementindex.com

The most valuable intellectual property in your business is the information you have on your existing clients. What you know about your clients’ goals or aspirations as it relates to their money and the services you provide is important; however, the critical asset is what you know about your client’s family, occupation and recreational interests - this is your clients’ WHY.

WHY haven’t you taken the PMI Assessment? It’s free, and it will help you to identify the Opportunity Gaps that can propel your business to the next level. Take the free PMI Assessment today at: www.practicemanagementindex.com

You know who your ideal clients are; determine what characteristics make them a fit for your business. Often, professionals get into the habit of identifying their target or ideal client either by a minimum revenue threshold or by speaking in vague terms. Either of these tactics makes it difficult to effectively communicate to your team or current clients who is the best fit for your business, and who should be introduced to you.

Do you have an up-to-date Ideal Client Profile? No, what other Opportunity Gaps do you have? Find out, take our free PMI Assessment today at www.practicemanagementindex.com

It is the implementation of an IDEA that sets it apart from everything else and brings it to life. A strategic plan lets you implement efficiently and more predictably. Strategic Plans can have real value if they are thoughtfully created, referred to regularly, adjusted as needed, and involve the entire team. Strategic planning can be simple, and it can help you establish and meet your targets.

Want to know where you rank in Practice Management? Take our free PMI Assessment today at www.practicemanagementindex.com

Have you considered going franchise ready - or are you already in the process? At Pareto Systems we help clients transition from an organic growth model to a scalable growth model - with minimal friction.

Many transitioning clients ask us “How can I find someone that aligns with my team, will contribute to our growth strategy, and will continue with us for the long-term?” Through our Building Exception Teams process, we help set many Advisory Teams up for the best possible outcomes.

To learn more about our Building Exception Teams process schedule a call with us today and talk to one of our experts by clicking here: www.paretosystems.com/schedule-a-call

You are not asking clients to buy a product. You’re asking them to buy into a process.

So, if you want clients to really buy in, you need to have an effective client engagement process in place.

Not sure how to do so? Check out the latest episode of the Always On with Duncan MacPherson podcast by clicking here: paretosys.co/AODM_ep36

Being Process-Driven with Peter Dobrich

You’ve got 24 hours in a day and five days in a work week. Wouldn’t it be incredible to be able to put more sand in your hourglass?

It is possible if you become highly process-driven and liberate yourself from the daily minutia of financial planning, which can be easily automated, streamlined or outsourced!

In this episode, Duncan MacPherson talks to Peter Dobrich, President at Private Financial Group. Peter shares his proprietary process, Your Life Print FORMula, which has helped him grow organically and improve his client relationships.

They discuss:

• The importance of having a FIT process instead of being all things to all people
• How Peter attracts and connects with business-owner clients
• How you, as an advisor, can easily tap into Private Financial Group’s proven process
• The much-needed mindset shift from financial advisor to CEO
• And more

Stream the new episode of Always On by clicking here: https://paretosys.co/AODM_ep36

It’s an introduction, not a referral. Take the word referral out of your language and focus more on the activity rather than implied productivity. Then, tell people why you do it. It’s rooted in your sense of purpose. Helping people is why you chose this profession, and it’s easily the most fulfilling part of it. Punctuate that by saying, “if you ever happen to introduce someone to me, they do not need to become a client to take advantage of this service. If they are important to you, they are important to me.”

Download Chapter 1 of The Blue Square Method for free now!

Top advisors today are using video as a key component in their growth strategy. Digital media has become one of the most important ways to communicate with clients and prospective clients.

In this fast-paced webinar, Duncan talks to the co-founders of Idea Decanter, Laura Garfield and Sharon Gottula, about the videos that are having the most impact on advisory practices. If you’re looking to grow faster, these stories are the best place to start.

They also discuss:

• Why you should include Video in your strategic plan
• The most important things to consider when creating video
• Key tips on producing video

Bonus: Learn how to transfer the Pareto Systems messaging to evergreen content that works (even when you’re not working).

Watch the replay by clicking here: www.paretosystems.com/webinars

Most of your clients don’t “go there” because they are unclear of how it looks to get involved in someone’s life and potentially put their own reputation on the line. They are undermined by a subconscious “no good deed goes unpunished” mindset, so they don’t get involved, even when the opportunity is presented. It’s not that they’re unconvinced or unmotivated, there is just some uncertainty about referring, so they don’t. Some may be out there singing your praises and endorsing you because you are dependable, but it sputters out quickly when it lands in the friend’s mind. Unless and until a client or partner is crystal clear about how it will reflect on them and the friend, there’s a blockage.

Download Chapter 1 of The Blue Square Method for free now at: thebluesquaremethod.com

In Charlotte, NC with Josh Gongaware at First Trust along with a stellar group of financial professionals discussing the best practices that create growth and efficiency.

Everything we’ve discussed to this point will make you undeniably more refer-able, but there is one more piece that needs to be put into place to convert referability into a steady stream of good quality introductions: Communication. You must always position and articulate the concept of an introduction as a service you are providing, not as a tactic to drive your business.

Download Chapter 1 of The Blue Square Method for free now at: thebluesquaremethod.com

Branding not only impacts prospective clients and existing clients, it impacts other influencers like strategic partners. Branding is the lifeblood of advocacy. It is reputational and can be relayed. Marketing can create transactions, but does not go anywhere near as far as branding when it comes to referrals. Introductions from advocates are a recurring revenue stream for your business and build the very fabric of your business. Transacting is like sewing without a knot at the end of the thread. Lastly, and it bears repeating, branding helps achieve stewardship, meaning your value is bought, not sold.

Do the ads drive referrals, or do they make people wonder why you still have to do advertising? Do the ads increase the awareness of professional scarcity and contrast, or do they undermine them?

Download Chapter 1 of my new book The Blue Square Method for free now at: thebluesquaremethod.com

"If you’re really thinking about selling your practice, realize that there are probably a hundred buyers that are out there right now. I’m not talking about another financial advisor. I’m not talking about somebody in your town or in your city. I’m talking about real buyers..." This is an excerpt from episode 35 of the ‘Always On with Duncan MacPherson’ podcast with guest Ted Jenkin.

Click here to watch on YouTube

The Anatomy of an Offer with Ted Jenkin 

There is a simple mantra in business: Every business is built to be sold.

Whether you plan to exit in the next 18 months or after 10 years, it is important to know your options so you can achieve the best possible outcome.

In this episode, Duncan MacPherson talks to Ted Jenkin, CEO of oXYGen Financial, about the anatomy of a business sale. As someone who has sold a multi-million-dollar business himself, Ted has valuable insights on how to effectively navigate the sale of your business from start to end. They discuss:

• The current and future outlook of the M&A space (including private equity firms)
• Actionable steps to increase your potential valuation multiple
• How exit planning can help you de-risk your position and achieve a higher sense of purpose
• The best place to get started if you have given zero thought to selling your business
• And more

Stream the new episode of Always On by clicking here: https://paretosys.co/AODM_ep35

The congruency you display, by backing up your statements of “having a process” by actually having one, puts additional distance between you and the pack. Still, in the pursuit of balance, don’t let yourself tip too far over into the science of building a business – remember the art. It is one thing to not “go through the motions” when it comes to best practices and standard operating procedures, you also need to combine it with your calling as a professional with a purpose.

"The reason video is the most powerful medium is because throughout the entire history of humanity, the one thing that we’ve always had is the connection to people’s faces." This is an excerpt from episode 34 of the ‘Always On with Duncan MacPherson’ podcast with guest Katie Braden.

Click here to watch on YouTube

Attracting and sifting requires more effort than expense. Before you start any of this, get a very high up, nose-bleed view to assess your overall plan and temperament. It’s one thing to have the idea, but do you have the stomach to execute it? It can be frustrating and disappointing, initially. In your strategic planning, jump to the end in terms of what it would look like if you stopped because you were unhappy with the results, or if it took off and caused unintended bursting at the seams. It’s inevitable that it will work, but how long will it take and how much time will it consume?

"We should be looking at all those checkpoints, the bottlenecks, and how to actually leverage all of your marketing materials to just as effectively deter people that aren’t the right fit as it is to attract the right people." This is an excerpt from episode 34 of the ‘Always On with Duncan MacPherson’ podcast with guest Katie Braden.

Click here to watch on YouTube

Building Relationships through Video with Katie Braden

Video marketing is revolutionizing the way advisors connect with clients and prospects. However, getting in front of the camera can feel terrifying for some people. For others, it might just seem like “a lot of work.” But not anymore.

In this episode, Duncan MacPherson speaks with Katie Braden, CFP®, founder and chief video officer at Advisor Video Marketing. Katie explains how advisors can make short yet impactful videos with clarity, conviction, confidence, and consistency.

They discuss:

• The key to creating authentic videos that build intimate relationships
• How video marketing helps advisors sift the prospects from the suspects
• Three most common video mistakes that damage the viewer experience 
• Ideas for evergreen and one-on-one videos to help you get started
• Navigating compliance for video marketing
• And more

Stream the new episode of Always On by clicking here: paretosys.co/AODM_ep34

Be certain to take any jargon and sales lingo out of your lexicon. Nothing about accounts, households, minimums, production or asset gathering. Never say, “Thanks for the business” to a new client or “Thanks for the referral” to an advocate. Always point to the relationship and the process that ensures you are directionally focused (where it’s going), rather than decision focused (you made a sale).

Download Chapter 1 of The Blue Square Method for free now at: thebluesquaremethod.com

How to Sell Your Business for Top Dollar

Do you have a succession plan in place? Have you considered your exit strategy and the enterprise value of your business? Have you considered how long you would stay in the business through a transition?

Join Duncan MacPherson, co-author of the Advisor Playbook, and Ted Jenkins, serial entrepreneur and CEO of oXYGen Financial as they discuss:

• Deploying a process to work on your business and drive enterprise value
• The world of private equity and how practices are really being valued today
• How a 1MM cash flow business producer can sell for 15x cash flow or more
• The option for selling your practice including you selling only part of your business, staying in the practice forever, and how to take care of your family
• And much, much, more

Access the recording here: www.paretosystems.com/webinars

"That surprises me... to this day that people would receive a referral and not solicit why the referral came." This is an excerpt from episode 33 of the ‘Always On with Duncan MacPherson’ podcast with guest Chris Jeppesen.

Click here to watch on YouTube

As rapport, interaction and trust gathers steam, you can feel the enthusiasm. One of the best things to do at this point is to not deviate. Keep feeding the self-motivation. Help them come to their own conclusions. One of the masters of this is Randy Schwantz, an exceptional presenter and consultant and the author of The Wedge. Randy’s epic statement, “For you to get hired, someone else has to get fired” is as good as it gets when it comes to attracting a client that closes you, instead of chasing a prospect trying to close them.

Download Chapter 1 of my new book The Blue Square Method for free now at: thebluesquaremethod.com

For a professional whose solutions are not tangible, and the benefits of which can be delayed, it is essential to create a client experience that de-commoditizes your services – and a process that communicates those benefits clearly.

You are striving for alignment, not a close. The “win” is in arriving at a mutually agreed upon conclusion that is natural and feels right. Yes, you will gradually expose the flaws of the current provider and others in the vetting process, but it will be achieved honorably and comfortably for the potential client and for your industry.

Download Chapter 1 of The Blue Square Method for free now at: thebluesquaremethod.com

In this excerpt from episode 33 of the ‘Always On" podcast Duncan MacPherson, and guest, Chris Jeppesen discuss the importance of focusing on what clients actually want. 

Click to watch on YouTube

Everything you do that has three or more steps must be documented. Once you document your processes, they become your intellectual property!

This week on the Always On podcast, Chris Jeppesen and I explain how you can turn your client experience into intellectual property that is difficult to replicate for competitors.

Always On Podcast Episode 33 out now - Click here to listen.

Enough Coasting. Now’s the Time To Climb! With Chris Jeppesen

The financial services industry has experienced colossal changes over the last decade. Today, advisors are on a collision course with commoditization like never before!

As a result, coasting is not an option moving forward. It’s either climbing or fading to irrelevance.

In this episode, Duncan MacPherson speaks with Chris Jeppesen, chief of advisory practices at First Trust, on why advisors need to shift their mindset and focus more on relationship and practice management to grow their business.

They discuss:

• Insights into The Blue Square Method; (and how it differs from The Advisor Playbook)
• How to identify and address early symptoms of loyal fatigue in clients
• How to effectively engage your team in a profound gap analysis
• Four ways to be “always on” and fulfill your clients’ unmet needs
• What elite, forward-looking professionals are doing to achieve scalable growth
• And more

Tune in now (or download it for later!) by clicking here: paretosys.co/AODM_ep33

Always have an extra chair in the room (some even have an artistic picture of an empty chair on the wall) to symbolize the prospective client’s current provider being in the room with you. The idea here is to think in terms of professional contrast, with an emphasis on self-evident professionalism. It’s a mindset technique to ensure you are sitting up straight and bringing your A-game to the meeting – not by chasing or competing – by being the most attractive option the prospective client will ever have.

So the, the process starts with the data, it starts with the interview, and then it’s just a matter of helping them better understand what they really should be doing. And there’s, a lot of them understand what they could be doing because they read it all the time. They read different practice management books, they watch different podcasts, and there’s no shortage of strategies that they could pursue.

Click to here watch on YouTube

Our consulting clients no longer (or never did) use pitch books or presentation decks. They use a beautifully crafted fit process. When they meet a prospective client for the first time, they pump hands and exchange pleasantries and then they say, “I hope you don’t mind but I looked you up and visited your website out of curiosity after our initial call. What really caught my eye was (something very personal but perhaps obscure that many might not notice or ask about).” The first goal is always to be interested. Being interesting is always a distant second because you learn nothing about someone by dominating the conversation.

Depending on the experience you provide, you can meet, exceed, or fall short of client expectations.

And guess what? Your clients never forget two out of those three scenarios: Exceeding and falling short of expectations.

Plus, it is crucial that your clients know about the great work you do for them i.e., they appreciate you!

Learn more about exceeding client expectations and improving practice management in the latest episode of Always On with Duncan MacPherson by clicking here: paretosys.co/AODM_ep32

Do you know what is the most difficult part of your business for competitors to replicate?

Your client experience.

In fact, performance coach Kevin BIshopp calls it the “final frontier for differentiation.”

Tune in to the newest episode of Always On with Duncan MacPherson to discover actionable ideas for elevating your client experience by clicking here: paretosys.co/AODM_ep32 

When it comes to making significant changes to a practice, advisors might hesitate if it seems like a lot of “work.”

In this episode of Always On with Duncan MacPherson, performance coach Kevin Bishopp of First Trust shares how he eases advisors into the implementation of new business processes to elevate the client experience.

If you are not afraid to challenge the status quo and ready to enhance your business, stream the full episode by clicking here: paretosys.co/AODM_ep32

The Art and Science of Practice Management With Kevin Bishopp

Taking your practice management to the next level, nurturing your organizational culture, and improving client experiences might require switching your mindset from advisor to CEO.

In this episode, Duncan MacPherson speaks with Kevin Bishopp, Vice President and Performance Coach for the Advisor Consulting Group at First Trust, about the art and science of practice management — including several actionable ideas for financial advisors.

They discuss:

• What stops advisors from dissociating from clients who are not a good fit
• The impact of professional scarcity on advisor branding
• The difference between client service and client experience (and how to balance them)
• The HOW and WHY of nurturing a cohesive organizational culture
• And more

Tune in now (or download it for later!) by clicking here: paretosys.co/AODM_ep32

A best practice that can take more time to produce, but strongly reflects and supports your branding strategy, is content marketing. When you create and promote your content, and make it the call to action, you ask the world to ask for your thought leadership IP, rather than asking for appointments or new business. You are attracting with permission marketing, rather than chasing with sales techniques.

In this excerpt from episode 24 of the ‘Always On with Duncan MacPherson’ podcast, guest Chris Jeppesen and Duncan discuss the impact of professionalizing your empathy with clients through goals-based planning.

Click here to watch on YouTube

Growing Down – as we touched on, and will cover more deeply in Chapter 12, if you’ve made the decision to dramatically reduce your client count so that you can shift from a breadth to a depth model, call your best and favorite clients and inform them that, as a team, you are excited because you’ve made the decision to grow your business from 300 clients down to 75! (The client’s immediate thought will be, “Whoa, did I make the cut?”) Tell them that the upside to downsizing is the opportunity to go deeper into the needs and client experience of the clients you are best suited for, especially as so many of those clients are approaching liquidity events, and with more money comes more complexity.

Download Chapter 1 of my new book The Blue Square Method for free now at: thebluesquaremethod.com

If you received six referrals in the last 12 months, you were probably talked about and endorsed 30 times. It’s about a five-to-one ratio between endorsement and introduction. Closing that gap is not only where the lowest-hanging fruit lives, but your growth model elevates you from transacting – trading time for money and pumping up a leaky tire – to a more predictable, efficient and durable approach.

In business and in life, it’s not about wins and losses but about how you play - and if and when you’ll stop learning and growing. Getting set in our ways is understandable, especially later in life. Coasting is easier, so it’s impressive seeing someone on the back-nine of life still committed to health and wellness, attending yoga sessions and gym classes. It’s impressive to see a retired person register for, and crush it, in a blockchain and cryptocurrency Masterclass. It’s equally sad to see someone counting the days until they can get away from the ball and chain called “work” because it’s never been their calling or passion.

What does the advisor of the future look like?

There is a shift happening right now, where advisors are dusting off old habits and mindsets, and achieving new levels of growth. Join Duncan MacPherson, in this actionable webinar, as he discusses his experiences with advisors transitioning from their traditional role to CEO.

Learn how to:

• Grow on your own terms
• Drive enterprise value
• De-risk your business
• Build a scalable playbook

Watch the recording of this informative Go-to-Webinar webcast by clicking here:  www.paretosystems.com/webinars

Every investment of effort you make contributes to two words, conversion and convergence. This outtake is from the Blue Square Academy which is available with the purchase of the book The Blue Square Method.

Click here to watch on YouTube