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Proven Strategies Blog

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2022-01-13 • 25 second read

Many professional advisors I work with are successful, enjoy an impressive lifestyle and should be content, but many of them are still ambitious and are frustrated because they have hit a plateau. While every advisor’s scenario is unique, often the plateau stems from inertia confidence. Simply put, the advisor is busy repeating habits and patterns, and has been for an extended period of time. They are getting results, but they can raise the bar and achieve more.

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2022-01-12 • 20 second read

Make sure prospective clients know you’re a specialist, not a generalist. Whatever your target market is, do case studies, success stories, warnings and examples around that target market to help activate contrast - so that prospective clients understand you are superior to their current provider and give them a reason to reach out and talk to you.

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2022-01-11 • 20 second read

As aging clients transfer their wealth, advisors often yearn for a lasting relationship with their beneficiaries down the road. However, getting introductions to clients’ family members can be a challenge!

In this podcast, Duncan speaks with Jackie Wilke, Vice President and Advisor Consultant at First Trust. They unpack strategies to help you attract and retain clients for multiple generations by developing a Multi-Family Office (MFO) client experience.

Duncan and Jackie discuss:

  • How to demonstrate your genuine care for clients without seeming too sales-y
  • The “family phone call” exercise that positions you as a family advisor 
  • Tips to help you navigate complex family conversations with clients
  • Content marketing ideas to create significant value for your target audience
  • The importance of building a multi-generational client base
  • And more

Click here to listen to the Podcast 

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2022-01-11 • 2 min read

I stress worth as the measure you need to be judged by, rather than cost. Let’s delve into how a Service Matrix can help smooth your route through transitions or troubled times and encourage clients to see you as deserving of your compensation while, at the same time, ensuring that you are investing your time on the clients who generate 80 percent of your income. Click to read more on LinkedIn

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2022-01-10 • 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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2022-01-05 • 20 second read

Planning, philosophy and process are all interdependent. Educating a prospective client as to why this is – or re-framing your value with an existing client through the three Ps – helps them buy into your positioning as a professional consultant. 

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2022-01-04 • 20 second read

How deep do you go to understand your client’s goals and aspirations? As you know, many of your competitors only scratch the surface and instead go deep on data dumping and industry jargon. It is essential that you constantly focus on the aspects of your business and relationships that are proprietary to supplement the aspects that are commoditized... Click to read more on LinkedIn

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2022-01-03 • 20 second read

You want your business legacy to reflect your commitment to helping people face the future with anticipation and to be an action-oriented implementer. Strategic planning isn’t just about crystallizing your thoughts on paper. It’s also about the application of appropriate strategies that will propel you forward.

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2021-12-28 • 2 minute read

Over the last couple of weeks I’ve had many intense calls with very high-caliber teams about the concept of becoming a multi-family office (MFO). Part of entering the space to becoming an MFO is to approach it as a progression. It doesn’t have to be something you jump all-in, 100%. You can test the waters, and there are many benefits to that. One of them is on the merit of “growing down” to grow up-market.

On that point, with one of the teams I spoke with, we talked about the mindset…

Click to read more on LinkedIn

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2021-12-27 • 8 min video

In this excerpt from the Always On with Duncan MacPherson podcast, Chris Jeppesen, Chief Of Advisory Practices at First Trust, and I question whether or not starting a Multi-Family Office is right for you. Click to watch on YouTube: https://youtu.be/-aKE_DGyQVw

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