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2020-04-02 16:07:15 • 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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2020-05-27 20:22:36 • 20 second read

Consultants focus on the lifetime value of a relationship. You are in the relationship business as much as you are in the field noted on your business card. Use tangible tools as a symbol of your professionalism and as an extension of your brand, and your results will be outstanding.

Learn more about using tangible tools, visit: https://www.paretosystems.com/concierge.html

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2020-05-25 20:08:37 • 20 sec

Pareto Systems' Practice Management E-Summit - May 28th - 10 am ET

See full speaker lineup: https://paretosystems.com/virtual-summit.html

Featured Presentation: COO Roundtable - A Collection of pro Tips that Work with Scott Hamilton

Scott Hamilton is a long-time professional consultant and business advisor as well as the builder of a successful estate and tax practice and a nationally known Wealth Strategies Firm.

He now devotes much of his professional time to a select group of financial Advisors. His coaching clients now range from smaller boutique practices to a large multi-advisor RIA firm with over $2 Billion in assets under management. Register Now: https://paretosystems.com/virtual-summit.html

#businessdevelopment #practicemanagement #virtualsummit #branding

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2020-05-25 18:57:44 • 20 sec

Pareto Systems' Practice Management E-Summit - May 28th - 10 am ET See full speaker lineup: https://paretosystems.com/virtual-summit.html

Featured Presentation: COO Roundtable - Every Family's Business - Understanding Next-Gen with Tom Deans

In this session, Duncan MacPherson interviews Tom Deans about the biggest unmet need advisors can address with first generation affluent business owners, professionals and executives.

Tom Deans is currently the President of Detente Financial Press, which specializes in offering advanced executive training for financial institutions, charities, as well as legal and accounting firms. His book Every Family's Business is an international bestseller that has sold more than a million copies in 100 countries to date and has been called one of the top ten books business owners should read by The New York Times. His latest book, Willing Wisdom, represents a return to his doctoral research conducted in the US, Canada, and the UK. Register Now: https://paretosystems.com/virtual-summit.html

#businessdevelopment #practicemanagement #virtualsummit #branding

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2020-05-25 16:25:39 •

When it comes to practice management, a lot of attention must be placed on the client experience. Using an agenda, having a fit process, onboarding a client systematically and deploying a service matrix are just a few of the essentials that I help advisors put into action to project professionalism and strengthen their client relationships.

The Advisor Playbook is loaded with actionable content to take your business to the next level! Click to download a sample chapter: https://www.paretosystems.com/the-advisor-playbook.html

#branding #businessdevelopment #practicemanagement

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2020-05-25 15:20:48 • 20 sec

Pareto Systems' Practice Management E-Summit - May 28th - 10 am ET

See full speaker lineup: https://paretosystems.com/virtual-summit.html

Featured Presentation: COO Roundtable - Understanding Team Dynamics with Elaine Christakos

In this session, Elaine will be discussing 4 strategies that your CSA can implement immediately to enhance your clients' experience. She will also be discussing Team dynamics and communication and specifically how you can use DISC and Motivation assessments to understand your team, enhance communication within your team, and build your team successfully.

Register Now: https://paretosystems.com/virtual-summit.html

#businessdevelopment #practicemanagement #virtualsummit #branding

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2020-05-22 18:27:00 • 20 second read

Professionalizing every aspect of your business – from your agendas to your onboarding process to your office itself – and infusing each element with your brand, governed by replicable process, is the key to moving from the business running you, to you running the business.

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2020-05-19 14:04:46 • 20 second read

I'd love to hear your story about something positive that emerged from this episode in time.

Here's mine: A friend of mine, Gary Athans, invited me and my dog Timber to join him and his dog Apollo for a hike in Kelowna recently. Now Gary is a respected leader in the local business community and is also a serious athlete; Olympic downhill skier, World class water skier and above average at every sport he plays, so I knew this wouldn't be your average hike. Timber and I have hiked extensively in the area but we had never hit the trails at Lebanon Creek. It was great as you can see from the pictures. As we wrapped up, Gary pointed out a stone that a kid had painted beautifully and apparently several others had done the same as a project while they were out from school. A few days later, Timber and I headed back to Lebanon Creek, just the two of us, and took a different route and found several more of the painted stones. I thought to myself, had I not been traveling I might never had tried this beautiful trail - and literally at that moment I saw the stone painted "Silver Linings". By the way, the trail is 5 minutes from the home we have lived in for 13 years!

Click here to share your Silver Lining story on LinkedIn

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2020-05-18 20:34:25 • 20 second read

paretosystems.com/recommended-reading

Enclosed is a listing of books that are perfect for:

  • Developing yourself - personally and professionally
  • Studying your ideal clients so that you can grow up market
  • Gifts to recognize critical life events and milestones in your clients lives 
  • Developing next-gen relationships with the kids of your best clients

To attract more attractive clients, you must make yourself more attractive. It's a study to achieve professional contrast. Keep working ON yourself and your business. See the full list at paretosystems.com/recommended-reading

 

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2020-05-15 16:53:38 • 20 second read

The best in any field of endeavor are masters at identifying and responding to unexpected situations. Being nimble means you can pivot on a dime and take action.

Sharpen your practice management skills, attend The Coiled Spring Virtual Summit on May 28th. Click here for more info and to register: https://paretosystems.com/virtual-summit.html

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2020-05-13 18:20:06 • 20 second read

Now, more than ever, your clients need you to be the voice of reason. Call your clients, start with your ideal clients and work through the list and be the fountain, not the drain. Tell some stories. Lead with purpose. Getting out in front of their concerns will ultimately increase your referability.

Join Duncan MacPherson, the Pareto Team, and other leading industry experts in a full-day virtual practice management on May 28th, click here to register: https://paretosystems.com/virtual-summit.html

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2020-05-12 16:43:28 • 20 second read

The Coiled Spring Virtual Summit - May 28th, 2020 - 7 am PT/ 9 am CT/ 10 am ET.

Register now: https://paretosystems.com/virtual-summit.html

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

  • Learn what top professionals are doing right now
  • Achieve professional contrast
  • Go further up market

Click here for more info and to register: https://paretosystems.com/virtual-summit.html

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2020-05-11 20:36:35 • 20 second read

It's easy to fixate on our technical ability and our core competencies, but we have to focus on ourselves as well. Jim Rohn said that "we are the average of the five people we spend the most amount of time around" and every now and again we have to assess our environment - because we are products of our environment.

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2020-05-08 19:40:02 • 20 second read

Did you miss yesterday’s ‘The Coiled Spring’ webinar with Chris Jeppesen and Duncan MacPherson? No worries, it was recorded and is now on the Pareto Systems YouTube channel where you’ll also find other great content, updated regularly: https://youtu.be/USwfxmw47ws

Register now for the upcoming Coiled Spring Virtual Summit: https://paretosystems.com/virtual-summit.html

The summit will feature Duncan MacPherson and great line up of presenters.

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2020-05-06 20:06:38 • 20 second read

Your GPA is an acronym for gratitude, purpose and action. Talk to your clients about your gratitude, sense of purpose and about the actions you are going to take. This is the art and science of being a financial advisor because this isn't about just wealth management, it’s about relationship management.

For access to videos, scripts and templates to help you be your clients’ voice of reason check out the Pareto Systems Knowledge Bank: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-05-05 18:56:04 • 6 min audio

The best in any field of endeavor are masters at identifying and responding to unexpected situations. Being nimble means you can pivot on a dime and take action. Take, for example, the kids of your best clients. Those in the 12th grade have had their graduation plans upended. No gowns, no prom, no ceremony. How about those in college or university? Final exams written at home with anticlimactic fanfare. Why not send those kids a beautiful card to pay tribute to their accomplishment? And life goes on. Birthdays, anniversaries and other milestones and life events have been celebrated virtually recently. Why not respond tangibly with a beautiful Lavish Card. You can also consider sending a copy of The Richest Man in Babylon - a great book for young adults embarking on a road to financial independence. Either way, while others watch things happen, be the one who makes things happen. Strengthening a relationship with a family can be achieved by bringing value to the next generation. And you also get to dig your well before you’re thirsty.

Use this downtime to catch up on your reading, visit: Duncan’s Recommended Reading: paretosystems.com/recommended-reading

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2020-05-04 20:19:18 • 20 second read

Instead of trying to convince a prospect to become client, only accept a new client if the alignment and fit is perfect based on your ideal client profile. How you start a relationship has so much impact in terms of how it will unfold.

Visit the Pareto Systems Knowledge Bank to access videos, scripts and templates that will help you re-focus your business and come out stronger: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-05-01 18:53:31 • 20 second read

Reframe relationships, rejuvenate and elevate your value to emerge from these extraordinary times as the advisor of the future.

Visit the Pareto Systems Knowledge Bank to access numerous other videos, scripts and templates to help you reframe and rejuvenate your client relationships: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-29 16:38:46 • 20 second read

Join Duncan MacPherson and Tom Deans, Best Selling Author of Every Families Business, in this in-depth webinar. Tom and Duncan discuss a proven approach to attracting first generation affluent business owners and how to get their families down from the summit successfully.

Tom’s book Every Family’s Business has been selected by prominent New York Times business blogger Josh Patrick as one of 10 books that every business owner should read. The books on the list detail how to ensure success, manage crisis, and, in the case of Every Family’s Business, determine the best exit strategy. Much of this webinar centers around the concepts and strategies pulled from this book

This webinar on demand was recorded live on April 22nd, 2020. https://register.gotowebinar.com/register/4661505296853101068

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2020-04-28 16:25:36 • 20 second read

I am excited to announce that my From-the-Field series is now available on Apple Podcasts and Google Play Music! We will be posting exclusive content here as well, conversations, interviews, and consultations that you will not find anywhere else! Subscribe today!

Apple Podcasts: https://itunes.apple.com/ca/podcast/duncan-macpherson-from-the-field/id1359813986?mt=2

Google Play: https://play.google.com/music/m/Invlkszkicyak7v4vgciyqtqzj4?t=Duncan_MacPherson_-_From_the_Field

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2020-04-22 16:15:58 • 20 second read

Future pace your business to see how you can capitalize on this coiled spring of untapped opportunity that's about to pop. Become indispensable to your clients as their unmet and developing needs evolve.

Visit the Pareto Systems Knowledge Bank to access numerous other videos, scripts and templates to help you future pace your clients during these turbulent times: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-20 14:55:59 • 11 minute audio

This audio is taken directly from a recent consultation between Duncan MacPherson and Jeff Gates. Jeff is a successful Advisor based in Waterloo ON, Canada. He and Duncan discuss the positioning of what you can say - right now - to be the voice of reason for your clients.

Listen on: Apple Podcasts  or  Google Play

 

https://itunes.apple.com/ca/podcast/duncan-macpherson-from-the-field/id1359813986?mt=2

https://play.google.com/music/m/Invlkszkicyak7v4vgciyqtqzj4?t=Duncan_MacPherson_-_From_the_Field

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2020-04-17 17:31:53 • 20 second read

During this period of intense volatility, your team went into this together, made it through together and are now starting to come out of it together. Show your clients a composite of your team working from home with smiles, optimism and purpose. Remind your clients that they belong to a community of very dedicated people committed to maintaining a consistent client experience and navigating through the storm with a process.

Visit the Pareto Systems Knowledge Bank to access videos, scripts and templates that will help you navigate these turbulent times: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-15 15:00:31 • 20 second read

There is an art and science to navigating your clients through storms. Balance your technical ability with empathy and listening. Strength comes from wisdom, courage and caring - remind them that you care about what they care about. After all, you can't count everything that counts.

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2020-04-13 17:29:50 • 20 second read

During volatile times, a good advisor is at his or her highest level of refer-ability. When money becomes topical, a client’s friends and family members may develop nagging doubts about their current provider and begin looking for a safe haven.

Be your client’s voice of reason and offer to speak to the people important to them to allay their fears. Access the Pareto Systems Knowledge Base for videos, scripts and templates to help be your client’s voice of reason: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-08 19:06:53 • 20 second read

Emerging from these turbulent times are a group of enlightened people who have viewed this as an opportunity to look inwards at themselves and their trajectory to determine the refinements needed to achieve self-actualization -- the best version of themselves -- the ultimate reason for being.

Access the Pareto Systems Knowledge Base for videos, scripts and templates to help achieve self-actualization: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-03 16:42:23 • 20 second read

Take this opportunity to work on your own personal and professional development to ultimately galvanize your client relationships and become a sounding board for their friends and family.

Access the Pareto Systems Knowledge Bank for videos, scripts and templates to help you refine your client processes check out the: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-04-01 15:53:16 • 20 second read

Avoid drifting into a pattern where your business runs you instead of you running your business. Take this time to reflect and improve upon your processes so you come out stronger and more on track.

Access the Pareto Systems Knowledge Bank for videos, scripts and templates to help you utilize this downtime to re-focus your efforts: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-03-30 17:42:35 • 20 second read

Now, more than ever, your clients, and their family and friends, need you to be a fountain of hope and reason. Call them, discuss what’s important to them and be their beacon of light.

For access to videos, scripts and templates to help you be your clients’ voice of reason check out the Pareto Systems Knowledge Bank: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-03-25 17:43:18 • 20 second read

Your responsibility, as a Financial Advisor, is to not just to get your clients up, but to safely get them back down. In these turbulent times, your clients need you more than ever to be their voice of reason.

Check out the Pareto Systems Knowledge Bank to access videos, scripts and templates to help you be your clients’ voice of reason: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-03-23 19:19:16 • 20 second read

Be the person who runs into a burning building while everybody else is running away. Talk to your clients and be their voice of reason and help them thru these turbulent times.

For access to videos, scripts and templates to help you be your clients’ voice of reason check out the Pareto Systems Knowledge Bank: https://paretoacademy.com/knowledge-bank-volatility.html

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2020-03-13 19:39:13 • 20 second read

One of the most effective ways to sift prospects from suspects and get them to contact you is to deploy a permission marketing approach... This means that you change the call to action from asking them to meet you personally to asking them to request some content from you online. They can begin a relationship with you without actually meeting you at first.

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2020-03-11 18:25:01 • 20 second read

When clients realize that you don't try to sell to people but rather inform them, they know that they can wave your flag without fear. To complement this you should create a habitual approach to providing market commentary, insights and updates and feed it into your site on consistent basis.

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2020-03-09 19:57:54 • 20 second read

From a business development perspective, your website can become an essential and dependable 24/7 driver for you. Of all the benefits that today’s savvy advisors are achieving with their websites and on-line communications, the most important is in making it effortless for clients to introduce friends, family members and business associates. Your web-presence can enhance your referrals and act as an approachable route for communication, not just for your existing clients, but for their statistical circle of 52 friends and family.

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2020-03-06 18:50:20 • 20 second read

Whenever a client or partner introduces you to someone, you know that, at some point down the road, those two people will talk and the experience you provided will come up in the conversation. Ensure that the person that was introduced says “thank you!” to the rainmaker. Your commitment to service prompts him or her to validate their delight to the person who referred them, and that validation opens the referral floodgates in the future.

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2020-03-05 16:33:47 • 20 second read

Duncan in Denver with Chris Jeppesen, co-author The Advisor Playbook and Head of Practice Management at First Trust along with Jon DiGiovanni, Jake Rigert, and Jared Marcus, CFA presenting on the best practices for organic and scalable growth.

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2020-03-04 19:46:44 • 20 second read

One of the golden rules of conversation is that people tend to discuss the things that exceed their expectations, or that fall below them. People seldom discuss the things that meet their expectations, because those types of things do not make for a good anecdote. Your referability works in exactly the same way.

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2020-02-28 18:05:04 • 20 second read

Being good at what you do is expected by a client. For clients to feel it would be a disservice to a friend not to make an introduction requires you to be better than good.

Providing an exemplary level of service and communicating your value with clarity allows clients to buy into a relationship with you, not just products from you. It lets you exceed their expectations. Being refer-able actually does lead to referrals.

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2020-02-26 19:24:19 • 20 second read

With Michael Cain, Scott Curran and John Jochum at First Trust in beautiful Westport Connecticut outlining The Blue Square Method - the mindset and best practices of top free for service professionals.

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2020-02-24 18:33:10 • 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

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2020-02-21 16:54:37 • 20 sec

In addition to strengthening your client relationships and running a more efficient and productive business, the process of developing a “Fee-Worthy” mindset and approach can provide you with another meaningful benefit. You also become more efficient with your time. With money we think of Return on Investment; with time we should be thinking about ROE - Return on Energy.

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2020-02-19 18:19:06 • 20 sec

Just so there is no mistake: Everything you do is client-centered, whether meeting with a client’s friend, recruiting a protégé or conveying the full array of your services. Everything is client-centered, including right-sizing. If you have too many clients, or clients you cannot stand working with, no one wins, and that has to be the core principle that governs right-sizing.

Learn how to stay client-centered through our Total Client Engagement Process: www.paretosystems.com/total-client-engagement

#advisors #businessdevelopment #practicemanagement

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2020-02-18 21:30:54 • 20 second read

Duncan MacPherson in Newport Beach with Jeffrey Baker and Rebecca Kern with First Trust presenting to a great group on how to achieve consistent client acquisition and deploy an impeccable client experience.

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2020-02-14 17:57:21 • 20 second read

The key to reaching the next level is to take your processes from a concept in your head and galvanize your vision and deliverables on paper for you, your team, and your clients to see. None of what you do is an asset or an intellectual property unless it’s documented. If it’s in your head, it’s just a concept.

Turn your good intentions into a proprietary process. Visit: www.paretosystems.com

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2020-02-13 16:27:38 • 20 second read

Duncan MacPherson in Jacksonville with Ryan Issakainen, Anthony Laudicina, Bryan Ulmer and Paul Peterson at First Trust getting ready to present on The Blue Square Method - the mindset and best practices of top fee-for-service professionals.

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2020-02-12 18:33:55 • 20 second read

Advisors who continually expand their client base eventually hit a point of diminishing returns. Once you exceed your service capacity, you can no longer effectively competitor-proof clients, gain their complete financial empowerment or maintain a high degree of refer-ability. As a result, you are likely to become stressed, frustrated and miss important opportunities. Furthermore, unless you hire and manage more staff, which takes time and money, you cannot effectively deploy your service matrix. In time, you will be perceived as a transactional generalist, and you will end up with a business that is a mile wide and an inch deep.

We come back full circle to the question you should ask yourself continually: If 20 percent of your clients generate 80 percent of your business, do you invest 80 percent of your time on that 20 percent? To generate the qualified referrals that will allow you to build a quality practice, you need to do exactly that. Right sizing your clientele will allow you to do it.

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2020-02-10 17:20:36 • 20 second read

The one thing all professional advisors have an equal amount of is time. We all have 24 hours in a given day. The concept of time-management is a bit of a misnomer. We can’t manage time itself; we can only manage the activities we choose to engage in each business day. The more you value your time, the more your clients will, as well.

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2020-02-07 16:18:26 • 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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2020-02-05 21:01:17 • 20 second read

In Las Vegas with Brad Shaffer and Daniella Sucato at First Trust presenting on The Advisor of the Future - the art and science of shifting from organic to scalable growth.

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2020-02-05 17:48:25 • 20 second read

Stephen Covey, the legendary author of the book The 7 Habits of Highly Effective People, advised that you should always begin with the end in mind … I suggest that you apply a mindset of building a business with the intention of selling it for maximum value at some point in the future.

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