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Are you a professional who wants to:
  • Consistently attract and retain great clients?
  • Run a more efficient and profitable practice?
  • Elevate the client experience?
  • Drive enterprise value?
  • Deploy a scalable growth model?
  • Create a panoramic branding strategy?
Speak with us today:Schedule a Call
Pareto Systems is a consulting firm dedicated to knowledge-for-profit professionals. Our practice management and relationship management programs are ideally suited for:
  • Financial Professionals
  • Insurance Specialists
  • Estate Planning Attorneys
  • Accounting Professionals
  • Trust Specialists
  • Wholesalers
  • All knowledge-for-profit professionals
World Map
2019-06-04 • 6 min video

In this episode Duncan discuss the concept of the Ideal Client Event, that’s agenda driven and more experiential than a simple presentation, to re-introduce and shift the focus from products, pricing and performance to a trusting relationship with the people, the practice and the process.

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2019-06-03 • 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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2019-05-31 • 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

2019-05-30 • 3 min video

Combine your high tech with high touch to competitor-proof clients and provide consistent advocacy to generate quality referrals. In this video Duncan suggests sending high quality, summer greeting cards to add energy to your client relationships.

Visit our friends at LavishCards.com for the highest quality greeting cards that have lasting shelf life. Go to https://lavishcards.com or call them toll-free at 1.888.599.7599

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2019-05-29 • 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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2019-05-28 • 3 minute read

Full Disclosure Leads to Full Empowerment

When we coach a financial advisor on how to improve his or her productivity, profitability and efficiency, we start a process to identify their untapped opportunities as well as any overlooked vulnerabilities.  This enables us to quickly establish where the low hanging fruit is, as well as any issues that are undermining their ability to achieve a breakthrough.

Often, the most startling untapped opportunity stems from clarifying the distinction between a customer and a client.  A Customer does some business with you but they also have needs fulfilled by one or more other service providers.  A Client empowers you fully.  You are their personal CFO.  Every need they have, they empower you.  And just as importantly, when a new need presents itself, the client instantly contacts you looking for a solution.  A customer goes shopping.

But this goes beyond just the status of your existing clients’ needs.  Money is constantly in motion and needs are continually evolving.  It’s essential that you have a process to ensure that you are the go-to advisor when a new need emerges.  This way you don’t have to go chasing the business.  You attract it.

So the question to ask, as part of your own strategic analysis is, do you have any customers among your client base and what are the benefits of taking action to convert them?  The next question is, how would your business change if you started all new relationships from the perspective of full empowerment?

The practical benefits are obvious.  A business made up of fully empowering clients means that you can grow the amount of assets you’re managing without growing the number of relationships you manage.  Plus, you don’t have rely strictly on a client acquisition strategy to convince new people to come on-board.  Convincing people can be draining – like pumping up a leaky tire.  When you work with the people who are already convinced, as new money in motion develops, they contact you to meet those needs.

All of which, brings me to a series of symbolic benefits too.  Sure, a client that calls you for a college plan for a new grand-daughter isn’t going to impact your next paycheck very much.  But the action speaks volumes.  Clients are more loyal and they are better equipped to describe you persuasively to others.  Clients tell their friends that “My financial advisor takes care of everything for me and does a stellar job.”  That is advocacy in action. Customers say, “I have a couple of different people who handle my investments, insurance and other things.”

The key is to have a process that enables you to get in front of unmet needs so that the moment they appear, you are getting the phone call.  Going forward, you need to re-frame your existing relationships so that they see the merit of this strategy and become trained – for lack of a better term – to anticipate contacting you immediately. And with new clients, you want to plant seeds early in the on-board process to future-pace how the relationship will look as it unfolds.

On-Boarding New Clients

The key with a new relationship is to explain how you conduct yourself and the role you will play in the client’s life as your relationship progresses.  The best way to do that is to present an impressive binder loaded with tabs and explain your service process to set expectations for how you will conduct yourself.  A good starting point is to say your own variation of this:

“The financial planning process is very dynamic and there are many pieces to the puzzle.  My job is to put those pieces into place as your life unfolds and your needs evolve.”  Then present a document – we call it a Personal Financial Organizer (PFO) – which contains a listing of every single service you provide along with a Take Action box beside it. You then say, “This is a listing of everything I provide for my clients.  Many of these solutions aren’t relevant to you and your family today but they may become relevant in the future.  As part of our review process, we will use this tool to anticipate needs and strategize your personal plan to align with your goals to ensure everything is taken care of in a precise manner.”

Re-framing Existing Customers

In your next review meeting with clients and customers, simply present the PFO and say this:

“We take great pride in providing exceptional service to our clients and ensuring that we anticipate needs and provide solutions that complement your complete personal financial plan.  But we never want to become complacent and we know that we can always raise the bar.  So going forward this binder will become the centerpiece of our review process and become an important hub for the important documentation we send you.”

Then, as part of your agenda as you walk through the binder, introduce your document that outlines your various services, and outline a modified version of what we discussed above. You’ll be amazed at how many of your customers/clients will say to you, “I didn’t know you did all of that.”

The binder becomes a tangible symbol of the strength of your process.  It locks relationships down, uncovers assets that are placed elsewhere, and ensures that it’s a knee jerk reaction that clients call you when money is in motion.  It also makes it easy for clients to conceptualize your value and easy for them to describe you to friends and family members too. 

Continued Success!

Contributed by Duncan MacPherson

2019-05-28 • 5 minute video

Join Chris Jeppesen, Chief of Advisory Practices at First Trust, and Duncan MacPherson, CEO of Pareto Systems, as they discuss how some of the best advisors are not trying to be all things to all people, but all things to some people. It's not how big they can get but how small they can stay.

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2019-05-27 • 20 second read

On behalf of the entire team here at Pareto Systems, I wish our American friends and family a wonderful day as they commemorate their fallen heroes.

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2019-05-24 • 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.

2019-05-23 • 5 minute video

In this episode I discuss the strategy of using the wall décor and greeting cards to enhance and reinforce your personal branding. Please note, as my kids have reminded me, there’s no Chinook Salmon in Mission Creek or Okanagan Lake, they’re Kokanee!

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