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2020-08-20 18:58:26 • 20 second read

Join Duncan MacPherson, the Pareto Team, and other leading industry experts in a full-day virtual practice management summit as they discuss the best in the industry are doing to finish strong in 2020 and position themselves for a breakthrough in 2021.

  • Learn what top professionals are doing right now
  • Create your strategic plan for 2021
  • Refine and optimize your business to create efficiency and capacity

Click here to for more info or to register

paretosystems.com/virtual-summit

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2020-09-21 18:45:07 • 20 second read

Selling a business is the biggest liquidity event you'll have. It's your opportunity to monetize your life’s work. A great advisor doesn’t spend their life selling investments, products and solutions. Instead, they build relationships and build a practice. It's not a ‘book of business’; it’s a business, and it has immense enterprise value.

Enterprise value goes well beyond AUM. What is it a buyer is acquiring? At one time valuation would be based solely on the assets bought, but that’s not always a representative measure. It's not just the AUM – the buyer is buying a practice and they're buying relationships, and the more work you put into building those relationships, the more enterprise value you will build.

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2020-09-18 16:54:26 • 20 second read

There's a lot of noise out there. You want people to tune out the noise and really tune into what it is you're communicating. Everything you say is either a "me too" or "so what". A "me too" that resonates and stands out and differentiates you or a "so what" that's just part of the noise.

Ultimately, connect it with your process. Don't tell people you “help your clients”, tell people that you've “developed and refined a process that helps your clients achieve their financial goals”. That’s a “me too.”

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2020-09-16 18:28:57 • 20 second read

The investment world is all about confidence and trust. Whether you are buying or selling, the more effectively and consistently you communicate with the clients involved, the more you will multiply the value of what you are buying or selling.

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2020-09-14 18:58:14 • 20 second read

Think of your service model. You may provide 85 services for your client over the lifetime of the relationship, but none of those 85 services are proprietary to you; a client can find them elsewhere.

Think of those 85 things like 85 bricks in front of you. Your process is the mortar that holds it all together. You're not selling products. You're not asking people to buy something. You want clients to buy into your process.

To see how a Pareto Systems Business Advisor can help you define and enhance your process schedule a complimentary 20 minute call: www.paretosystems.com/schedule-a-call

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2020-09-10 16:44:47 • 6 min audio

In this episode, Duncan suggests, as one of the silver linings that have come out of 2020, that this is an excellent opportunity for fee-for-service professionals to grow down their business. This will free up your time for the clients who deserve you as opposed to the clients who need you and allow you to shift from broadcasting to the masses to narrowcasting to your most deserving clients where the alignment of interest, now and in the future, is just absolutely ideal.

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2020-09-04 18:01:48 • 20 second read

Quality is a habit, not an act; we are what we repeatedly do.

We are products of our habits and rituals. Creating a new habit can be difficult because traction and meaningful results take time to manifest. Our daily routines get hardwired into our mindset and whenever we deviate we often subconsciously revert back to our original ways of doing things.

An important step is to develop an approach where you take action and build the bridge as you cross it. If you know you have to start doing something that’s in your best interest - or stop doing something that is not in your best interest - take action and let the momentum of your new habit compound over time.

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2020-09-03 14:13:04 • 8 min audio

In this episode, Duncan MacPherson provides actionable strategies to help you finish 2020 strong and position yourself for a great 2021! By focusing your efforts on the 20% clients who helped generate 80% of your business, and ratcheting up your service matrix, you will differentiate yourself from the crowd and convert clients into referral generating advocates.

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2020-09-02 18:22:22 • 20 sec

You probably have a handful of existing clients today who are ideal. The question is how can you best convert and create more of these ideal clients from within your client base? How can you keep them when things are chaotic? You have to coach them and lead them through a methodical communication plan, and the best time to start this is when market conditions are positive. Farmers work hard during the autumn harvest because they know winter is inevitable.

Grow your crop of Ideal Clients… schedule a call with my team today: https://www.paretosystems.com/total-client-engagement.html

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2020-08-31 16:14:07 • 20 second read

Do you ever have a client who says to you "Hey - our upcoming quarterly review meeting - I can't make it, and listen, it’s all good, everything looks fine, I trust you, whatever you think"? Often an advisor responds with "Well, yeah that happens a lot" in a tone that projects that this is no big deal, or is in fact a good thing.

It's NOT a good thing.

I get that they’re busy. Good, upmarket clients are always busy, their time is valuable. The client is saying that they do not perceive there being enough value to make the meeting a priority in their day. That is where loyalty fatigue is born. That’s where the relationship starts to be at risk. Stop calling them “quarterly review meetings” and instead call them strategy and tactical meetings. Communicate the value of that meeting and top clients will engage.

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2020-08-28 15:53:17 • 20 second read

Whatever your goals are, if you want your business to serve your life rather than the other way around, you have to get your business out of your head (and your assistant’s head) and start documenting your procedures. I know it sounds like work, but the payoff can be massive.

Learn how to document and organize your process with Total Client Engagement: www.paretosystems.com/total-client-engagement

#businessdevelopment #practicemanagement #theadvisorplaybook

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2020-08-27 14:24:30 • 20 second read

In this episode Duncan discusses the benefit of being in a “state of flow” and how right now there's an opportunity for you to rethink your business, and your focus, to get to a real state of fulfillment and potentially go up market to a higher-caliber client.

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2020-08-26 15:55:19 • 20 second read

Quality is a habit, not an act; we are what we repeatedly do.

We are products of our habits and rituals. Creating a new habit can be difficult because traction and meaningful results take time to manifest. Our daily routines get hardwired into our mindset and whenever we deviate we often subconsciously revert back to our original ways of doing things.

An important step is to develop an approach where you take action and build the bridge as you cross it. If you know you have to start doing something that’s in your best interest - or stop doing something that is not in your best interest - take action and let the momentum of your new habit compound over time.

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2020-08-21 15:45:41 • 20 sec

A personal branding strategy helps people connect with you on a deeper level. The firm you represent has its own brand, but you need to build a brand within that brand. This adds credibility to your overall brand, but people are connecting with you, the messenger, not just your message in terms of solutions, products or rates of return.

Learn how to refine your branding with our Total Client Engagement Process: https://www.paretosystems.com/total-client-engagement.html

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2020-08-19 16:02:15 • 20 second read

Listening doesn’t just make a client confident and happy; it gives you real information that makes you better in turn. It’s possible for your judgment to be clouded by inertia confidence, by neglect or by getting into a feedback vacuum. Your clients are the best board of directors/advisory panel you can have. They will keep you on track.

Excerpt from the Advisor Playbook: www.paretosystems.com/the-advisor-playbook

If you need to open deeper communications with your ideal clients, talk to my team, we can help. Ask for our consulting coordinator: 1.866.593.8020

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2020-08-17 17:33:41 • 20 second read

AI will never have EI, emotional intelligence, so emphasize practice management and relationship management. That’s where you can differentiate and stand out.

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2020-08-14 16:37:37 • 20 second read

What is the purest form of client acquisition? It is not going out and trying to convince new people, but rather working with the people who are already convinced and showing them how to convince people on your behalf. They go out of their way to wave your flag; not because they are trying to help you grow your business, but because they feel they are doing their friends a disservice if they do not make the introduction.

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2020-08-12 18:39:51 • 20 second read

Clarify your goals on paper. Use the W-5 Process. You can’t just randomly or haphazardly approach the future; you must design it. You’ve heard about the fool who goes hunting with a crossbow and fires an arrow into the forest, saying to himself, “Boy, I sure hope something runs into that.” Later, he finds the arrow lodged into a tree and draws a bull’s eye around it.

Don’t leave your future to chance. Visit paretosystems.com for more daily tips and insights.

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2020-08-10 16:46:21 • 20 second read

The longer a relationship exists, the more familiar it becomes and the more things can be taken for granted and trivialized. This is especially true in an abstract and turbulent business that focuses on knowledge and intangibles. You have clients today who stay with you because they like and trust you in general terms, but that doesn’t mean they are immune to the steady bombardment of promises made by the advisors trying to lure your clients away. These competitors are throwing the kitchen sink at your clients trying to instill that nagging feeling in their minds that there is a better asset management approach available than the one you are providing now.

Excerpt from The Advisor Playbook: www.paretosystems.com/the-advisor-playbook

Need a strategy to competitor-proof your clients? www.paretosystems.com/total-client-engagement

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2020-08-07 19:01:13 • 20 sec

Make your clients the voice you listen to. Just as importantly, demonstrate that you’re acting on their feedback. Close the feedback loop by continually pointing to any surveys or input you sought from your clients, and show them the actions you’re taking. This takes it from a claim that you’ll be improving the client experience, to your clients actually appreciating the elevation of service.

For more information on how to make your clients the voice you listen to and much more, talk to us about The Pareto Systems: https://www.paretosystems.com/the-pareto-system.html

https://www.linkedin.com/feed/update/urn:li:activity:6415227684355395585

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2020-08-05 18:07:19 • 20 sec

When someone gives you the opportunity to explain your value proposition, I want you to ask yourself, “what does this person really want?” How you define yourself shouldn’t address what you do in the literal sense, it should address what the person craves; a relationship with an expert who helps them achieve what they aspire to - financial independence and a greater sense of control.

Learn how to define yourself through our Total Client Engagement Process:
https://www.paretosystems.com/total-client-engagement.html

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2020-08-03 16:20:03 • 20 second read

One of the most important procedures you can document and refine is that of onboarding new clients. The benefits of starting a new relationship professionally include:

Validation - The new client was probably referred from an existing client or strategic partner. At some point in the future these two people are going to connect and you want the new client to say “Thank you for introducing me to your advisor”. That validation makes you more referable and increases the likelihood that the referrer will do it again.

Contrast - The new client will contrast your client experience to that of their former advisor. Positive contrast solidifies their decision and competitor- proofs them in the future.

Self-motivation – The new client feels so good about their decision that they feel compelled to wave your flag to others. They know how to describe you because the experience is positive, clear and fresh in their minds.

Excerpt from International Best-seller: The Advisor Playbook https://www.paretosystems.com/the-advisor-playbook.html

Looking for a challenge? Aligned with our philosophies? Check out our Pareto Coaches Network: http://www.paretocoachesnetwork.com/

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2020-07-31 15:54:50 • 20 second read

The Law of Cause and Effect states that your activities will determine your productivity. If you want your productivity to increase, the first place you should look is the activities you engage in which give you the best return on your investment of time and energy.

Excerpt from The Advisor Playbook

Visit paretosystems.com for more daily tips and insights.

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2020-07-30 19:47:27 • 6 min audio

Everything is possible, but virtually nothing is certain. In periods of difficulty we find ourselves lurking. When you have a plan C and you think through all the contingencies, and spend a lot less time worrying. Join Duncan as he discusses the power of plan C and the impact it can have on you and your team when developing your strategy or plans.

Listen on iTunes

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Do you have a ‘Plan C”? Visit our website to learn more about our customized consulting designed to help you re-focus your business and take it to new heights: www.paretosystems.com

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2020-07-29 18:36:22 • 20 second read

Develop a proven strategy for differentiating yourself and elevating how you’re perceived and how you’re described. Go beyond greeting cards, wall décor and act like the Nike Swoosh to create an identity and imprint your value for your clients.

Visit our friends at LavishCards.com to discover their stunning images that will symbolize your value: https://www.lavishcards.com/product-category/symbols-branding/

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2020-07-27 17:15:04 • 20 second read

There are advisors who have made themselves indispensable to their clients, and created incredible buzz throughout families, by creatively bringing value to their clients’ children when it comes to understanding money and investing. If you read The Millionaire Next Door by Tom Stanley, you already know the power of positioning yourself within the entire family.

Excerpt from The Advisor Playbook: https://www.amazon.com/Advisor-Playbook-Liberation-Personal-Professional/dp/B01MQVORIW

Need a next gen strategy? Talk to my team: www.paretosystems.com

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2020-07-24 15:24:38 • 20 second read

Just a gentle reminder that, contrary to the old cliché, time is more valuable than money.

I called a client of mine in Florida and got his voicemail. He had a very professional, pleasant greeting, and - right out of our Playbook - at the end of the voicemail he said “I return messages between 3 and 4 pm every day. If your matter is urgent, please contact so and so”. He is projecting to his clients and anybody else that he values his time. He guards his time, and unless and until you do, nobody else will.

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2020-07-23 18:39:32 • 20 second read

Don't just make your clients the voice you listened to, make your team the voice as well. Understanding how you're perceived and how your value is articulated by everybody on your team can help you raise the client experience and increase your rate of referrals.

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2020-07-22 19:46:42 • 20 second read

This is Why
You Became a Financial Advisor

Remember your Purpose, stick to the Plan, and trust the Process.

The Pareto Systems Knowledge Bank includes actionable resources for you to be the voice of reason in these volatile times. We will continue to add insights, videos, scripting and more to this page, so check back often.

Click here to access: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-07-22 15:48:40 • 20 second read

As a professional productivity coach, I spend a lot of time with clients helping them understand the power of consistent and sequential implementation. When you try to develop a skill such as a second language or a sport, ongoing immersion and refinement over time (rather than a quick bombardment) leads to lasting results.

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2020-07-20 15:00:54 • 20 second read

When you and your clients are crystal clear about all the reasons why they want to achieve financial independence, they place far more value on how you plan to get them to there. This will competitor-proof your clients in a way that ensures that anyone trying to steal them will meet resistance and dead ends with every effort. It’s a win-win situation, because the more your now-competitor-proof client buys into your process and understands and appreciates it, the easier it will be for them to describe that process to someone else. You’re more referable.

Excerpt from The Advisor Playbook: www.paretosystems.com/the-advisor-playbook

For our daily stream of actionable insights visit paretosystems.com

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2020-07-17 15:33:19 • 20 second read

One of the easiest and most powerful branding strategies you can deploy to exceed the expectations of your high net-worth clients - and make yourself indispensable to them in the process - is to adopt a train-the-trainer mindset. Help them to encourage their children to develop a solid financial philosophy and approach.

Excerpt from The Advisor Playbook: https://www.amazon.com/Advisor-Playbook-Liberation-Personal-Professional/dp/B01MQVORIW

Need a next gen strategy? Talk to my team: www.paretosystems.com

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2020-07-16 18:39:11 • 5 min audio

Elevate the client experience by transitioning to a process driven environment and shift from organic to scalable growth. In this episode, Duncan provides valuable insight into overcoming the ‘red-zone’ of scalable growth to building a truly franchise ready business.

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2020-07-15 17:29:28 • 20 second read

I spoke with a client last week about communication and how they transmit their message and, ultimately, they need a receiver to tune that in. Think of the room you're in right now. There are probably a thousand signals and with the right receiver you can pull anything in. But there is also a signal-to-noise ratio. There's a lot of noise out there. You want people to tune out the noise and really tune into what it is you're communicating.

Everything you say is either a "me too" or a "so what": A "me too" that resonates and stands out and differentiates, or a "so what" that's just part of the noise.

Do you want to make sure your communication stands out? Talk to my team about our Total Client Engagement process and ensure your signal is being received: www.paretosystems.com/total-client-engagement

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2020-07-13 18:07:56 • 20 second read

Remember, you are not marketing to yourself. What matters is how you are perceived and described by your clients. You don't sell insurance. You're not an insurance broker. Risk management is part of your process. You're not selling something, you're building something. You're building financial independence for your clients. You're building advocacy within those clients. You're building enterprise value, not trading your time for money. Don't be your own best-kept secret, relying solely on skills and intentions that a client can get somewhere else. Skills are important, but everything you do is part of your process. Imprint the panoramic process. Make sure your clients can internalize it, that so they can socialize it to others.

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2020-07-10 17:12:53 • 20 second read

Quality introductions are by design, not by chance. Don't leave your rainmakers to their own devices trying to figure out who to introduce to you; tell them. In fact, many of our clients go so far as to show them. When they are in an engaged conversation with someone on the topic of who is a good fit, as an extension of their value proposition, they show a list of the qualities of their ideal clients. Excerpt from The Advisor Playbook www.paretosystems.com/the-advisor-playbook

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2020-07-08 17:48:46 • 20 second read

When you position the concept of a referral as a service you provide rather than as a favor you seek,and then drive it home with your sense of purpose, refer-ability is amplified. You don’t look needy and your value is easy to describe to others.

Excerpt from The Advisor Playbook

Learn more about our proven introduction process: https://www.paretosystems.com/total-client-engagement.html

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2020-07-06 20:25:01 • 20 second read

Did you know that construction on the Empire State building began in 1930? This was, for a longtime, the tallest building in the world and it was built during a depression. I’m asking you to apply that same vision, confidence and work ethic to your business and build something that stands above the pack, even in periods of uncertainty and volatility.

 

Excerpt from The Advisor Playbook

 

Join me at Mastermind and start building: https://www.paretosystems.com/mastermind-total-client-engagement.html

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2020-07-01 16:56:40 • 20 second read

Many financial advisors obviously have great intentions, qualities and skills. While these are all important factors, none are proprietary. We want you to professionalize that skillset and every interaction with a process that clients can internalize and buy into.

If you are interested in learning more about our process and working directly with me, click here: www.paretosystems.com/blue-square

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2020-06-30 16:48:35 • 20 second read

A fist bump to our friends as we approach Canada Day and Independence Day to pay tribute to our enduring friendship. The best is yet to come….

We are all travelers in the wilderness of this world, and the best we can find in our travels is an honest friend. - Robert Louis Stevenson

Often when I seek inspiration to punctuate a message, I look to both Robert Louis Stephenson and C.S. Lewis. I'm including links to a collection of quotes from both:

https://www.brainyquote.com/authors/c-s-lewis-quotes

https://www.brainyquote.com/a…/robert-louis-stevenson-quotes

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2020-06-29 15:49:29 • 20 second read

One of my favorite quotes,often attributed to Confucius, is “Dig your well before you’re thirsty.” As a professional advisor you know all about the importance of planning, risk management and the power of compounding. From a business perspective, do you apply the same mindset?

Excerpt from The AdvisorPlaybook

Visit www.paretosystems.comfor more daily insights.

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2020-06-29 15:32:49 • 20 second read

Missed last month's Pareto Systems' Practice Management E-Summit?

Watch the replay here: paretosystems.com/virtual-summit-recordings

7 Hours of content
10 Sessions
16 Speakers
100’s of Actionable Ideas

Join Duncan MacPherson, the Pareto Team, and other leading industry experts in a full-day virtual practice management summit as they discussed how you can emerge from this current environment prepared for the future - To convey leadership, strength and optimism and identify.

Watch the replay of each presentation here: paretosystems.com/virtual-summit-recordings

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2020-06-26 19:29:33 • 20 second read

A lot of people in your market area need your expertise, but you shouldn’t spend time with people who need you at the expense of people who deserve you. You are only one person with just 24 hours in a day. Work with the people who are already convinced and let them convince their acquaintances for you.

 

Excerpt from The Advisor Playbook. 

 

Buy it today on Amazon: https://www.amazon.com/Advisor-Playbook-liberation-personal-professional/dp/0968440185

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2020-06-26 15:31:02 • 20 sec

A lot of people in your market area need your expertise, but you shouldn’t spend time with people who need you at the expense of people who deserve you. You are only one person with just 24 hours in a day. Work with the people who are already convinced and let them convince their acquaintances for you.

Excerpt from The Advisor Playbook: https://www.paretosystems.com/the-advisor-playbook.html 

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2020-06-24 18:04:26 • 20 second read

How do you welcome new clients? How do you say thank you for client referrals? How do you respond toclient service issues? Do you recognize milestones? As a business owner, branding is everything to your business, and everything you do is part of your branding. Everything you do matters. Scrutinize the entire client experience, and make a list of how you will respond to moments of truth. This is the first step in creating velocity, building confidence and ensuring that you are continually refining and optimizing your systems and procedures. Everything has to be rooted in process and habits.

Excerpt from The Advisor Playbook

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2020-06-22 16:42:07 • 10 second read

Legendary personal and business development philosopher and speaker Jim Rohn often said the following: “The winds of opportunity blow the same for all of us. The difference that separates the best from the rest is how they set their sails. As a professional advisor, you invest a lot of time with your clients helping them face the future with confidence thanks to your investment planning process. Be sure that you have a plan, and that it’s leading you to your goals. 

Excerpt from The Advisor Playbook: www.paretosystems.com/the-advisor-playbook

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2020-06-19 17:19:46 • 10 second read

It’s easy to fall into a consistency trap where complacency seeps in. The Japanese have a word - Kaizen - which means ‘good change’. The business world has adopted and altered it slightly to mean continuous improvement, and Japanese business in particular sees it as a daily, ongoing process. Being consistent doesn’t mean that you shouldn’t be open to the refinement of your established procedures. We can always improve the things we do, and we have to do so in a balanced way.

Excerpt from The Advisor Playbook: www.paretosystems.com/the-advisor-playbook

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2020-06-17 15:57:29 • 20 second read

Refer-ability, too, is a by-product of your habits and rituals. The best hour you can spend every day is calling clients and strategic partners. You’re not calling to sell anything nor are you trying to be the bearer of any profound news. You are just staying in touch and top-of-mind. You are showing and not merely saying that you value the relationship.

We work our clients to establish a fit process to improve their refer-ability. See if you are a fit for Blue Square: www.paretosystems.com/blue-square

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2020-06-15 16:17:30 • 20 second read

If the prospective client starts talking about short term performance or specific stocks or sectors, the advisor steps in and says, “It’s important for you to know my philosophy. Some advisors fixate on products, pricing and performance – that’s not me. I believe the markets are like the seasons. When things are rocking along, we are in the autumn harvest. Now how often does winter follow autumn? Approximately, how often? Every time. When markets are rising, I think winter. When markets are volatile and dropping, I think spring. The most successful investors in the world, whose results are enduring, share this same philosophy. If you are thinking short term, I’m probably not the advisor for you.”

Excerpt from The Advisor Playbook www.paretosystems.com/the-advisor-playbook

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2020-06-12 16:17:38 • 20 second read

A personal branding strategy, a compelling value proposition, and well- crafted messaging speaks to people at a deeper level and elevates you from the pack so you are never swimming in that lukewarm pool of sameness.

Excerpt from The Advisor Playbook: www.paretosystems.com/the-advisor-playbook

Our friends at LavishCards.com provide stunning images that symbolize and re-enforce your personal branding strategy. VView their website here: https://lavishcards.com/

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