Category Archives: Uncategorized

How to Maximize Your Life’s Work with Sherri Palle (Ep. 39)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , , ,

Are you 10 years or less from selling your practice?

If so, now is the time to start thinking about your succession plan so you can maximize your life’s work (i.e., your business valuation).

In this episode, Duncan MacPherson speaks with Sherri Palle, business consultant and coach at Pareto Systems, about how business owners can effectively plan their eventual exit and capitalize on their life’s work.

They discuss:

  • Factors that help you maximize your enterprise value
  • The best place to start planning your exit if you haven’t thought about it yet
  • How to ensure your legacy is intact long after your exit
  • The importance of having a contingency plan (with real-world examples)
  • Key considerations about WHO will take over your business (and WHEN)
  • And more

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About Our Guest:

Sherri Palle, Pareto Systems Business Consultant and Coach, is known for her high-energy calls which provide motivation, enthusiasm, and thought provoking ‘aha moments’ – making these calls something the entire team looks forward to. Sherri began working as a Business Coach at Pareto Systems in 2005 where she worked with financial advisory teams all over North America and continues to work as a Pareto Coach today. In 2014 she co-founded Mindset Consulting allowing her to work extensively with an exclusive group of advisory teams. During her 16 years of coaching, she’s had the opportunity to develop and deliver customized training programs for several reputable, successful financial firms throughout North America.

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Achieving Professional Scarcity and Professional Contrast with Steve Phillips (Ep. 38)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , ,

Creating professional contrast and scarcity, improving referability, alleviating loyalty fatigue…These are all key pieces of the bigger puzzle: How to grow your practice to the next level?

In this episode, Duncan MacPherson speaks with Steve Phillips, chief practice management officer at USA Financial and a business consultant at Pareto Systems. They share best practices and timeless principles to help advisors build profound client relationships that lead to advocacy.

They discuss:

  • The importance of combining technological aids with the “human touch”
  • Shoot Your Trailer: an effective strategy to articulate your value to prospective clients
  • How to improve the quality of your referrals (in other words, duplicate your best clients)
  • How to deepen your client relationships amidst volatile markets
  • Why small gestures can go a long way in improving your overall client experience
  • And more

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About Our Guest:

Steve Phillips is the Chief Practice Management Officer at USA Financial. He is a longtime friend and partner of Duncan MacPherson and the entire Pareto Systems team, having first engaged with Pareto as a client in 2010. With over 25 years of experience in the financial services industry as a speaker, team leader and passionate educator, Steve was an early adopter of the processes around practice management, business refinement and client acquisition. It was a natural next step for Steve to become a Pareto Certified Practice Management Consultant, and part of the Pareto Coaches Network.

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Avoiding a Plateau: A Case Study in Professional Contrast and Scarcity with Terry Gronbeck-Jones (Ep 37)

Avoiding a Plateau: A Case Study in Professional Contrast and Scarcity with Terry Gronbeck-Jones (Ep 37)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , ,

Sometimes, the best way to grow upmarket is to “grow down” or right-size your business.

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

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About Our Guest:

Terry Gronbeck-Jones has been a consultant and business coach for the financial services industry since the late 1990s, the majority of those years spent at Pareto Systems. Terry also does consulting through Mindset Consulting, a company that he co-founded in 2014.

Terry’s primary role is working with financial advisory teams across North America with an emphasis on helping them implement marketing and business development best practices. He has worked on a multitude of corporate projects, consulting with companies such as Wells Fargo, Raymond James, and Creative Marketing, to name just a few.

Terry is the co-author of The North Wind and the Sun, a book that tells a series of true stories about the importance of relationships in business.

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Being Process-Driven With Peter Dobrich

Being Process-Driven With Peter Dobrich (Ep. 36)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , , ,

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 of 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

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About Our Guest:

Peter Dobrich/PFG is a Managing Partner with Q Wealth, a Portfolio Management firm. Peter personifies what it means to be the Advisor of the Future. He is a true CEO and a current client of Pareto Systems. Peter and his team are based out of Windsor, ON, Canada.

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The Anatomy of an Offer With Ted Jenkin (Ep. 35)

The Anatomy of an Offer With Ted Jenkin (Ep. 35)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , ,

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

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About Our Guest:

Ted Jenkin is the CEO of oXYGen Financial, CEO of Hyperchat Social, co-owner of Complete Concrete & Hardscapes, and a serial entrepreneur. With 26 years of experience and six advanced designations including the Certified Financial Planner degree, Ted is a featured columnist on the Wall Street Journal and can be seen regularly on CNN/Headline News. He is also featured locally on 93.7FM, 106.3FM, 680 The Fan, and NBC 11 Alive News. Ted is the author of “The 21 Day Budget Cleanse” and “100 Smart Money Moves To Make Now.”

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Building Relationships through Video With Katie Braden (Ep. 34)

Building Relationships through Video With Katie Braden (Ep. 34)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , ,

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

Resources:

  • Upcoming Workshops: Advisor Video Marketing
  • PARETO100 provides $100 off my Video Foundations Workshop
  • PARETO150 provides $150 off my Video Marketing Workshop
  • PARETO200 provides $200 off the workshop package (both workshops)

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About Our Guest:

Katie Braden, CFP® is bullish on the power of authentic video. She loves working with advisors to help them improve their virtual meeting setup, build confidence on camera and use video to grow their brand, attract more of their ideal clients and better communicate with existing clients. 

Katie obtained a degree in photography from RMIT University in Melbourne, Australia before returning to the U.S. and joining her mother’s RIA. She left in 2013 to start one of the first completely virtual, subscription-model financial planning businesses and then pivoted to working, speaking and consulting with financial planners in 35 countries. She now combines that creative side with her passion for the profession as Founder and Chief Video Officer of Advisor Video Marketing. 

Katie has served on CFP Board’s Women’s Initiative (WIN) Council since 2014, is a 2016 InvestmentNews 40 Under 40 Alum, and is often seen speaking at or video-reporting from industry conferences. 

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Enough Coasting. Now’s the Time To Climb! With Chris Jeppesen (Ep. 33)

Enough Coasting. Now’s the Time To Climb! With Chris Jeppesen (Ep. 33)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , ,

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

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About Our Guest:

Chris Jeppesen is the head of advisory practices at First Trust, a firm known not only for its robust investment product line which includes UITs, ETFs, SMAs, and VAs (to name a few) but also for its commitment to the growth of financial advisors. First Trust has dedicated many years to finding (and investing in) creative ways to help financial advisors grow their practices. Chris’ goal over the last 18 years has been to give financial advisors the tools to develop an efficient business model focused on building long-term client trust and loyalty. Chris is also the co-author of The Advisor Playbook.

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The Art and Science of Practice Management With Kevin Bishopp (Ep. 32)

The Art and Science of Practice Management With Kevin Bishopp (Ep. 32)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , , ,

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

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About Our Guest:

Kevin Bishopp is a Vice President and Performance Coach for the Advisor Consulting Group at First Trust. His focus is the best practices and mission-critical strategies that propel professionals/firms to be truly unique within the industry. His insights into key metrics, resource allocation, team structure, marketing and client acquisition equip professionals/firms to make high-quality strategic decisions that can generate dynamic results. Prior to joining First Trust, Kevin spent 12 years with Russell Investments, where he held positions as Director of Practice Management, RIA

Channel Head and Business Development Director. In those roles, he focused on coaching, content creation, sales management, national account management, and business development. Before joining Russell Investments, Kevin spent 5 years as a wealth manager for The Bishopp Group LLC, a family-owned wealth management practice. In 1994, he started his career in financial services as an associate for Principal Financial Group. Kevin holds an MBA from the Michael G. Foster School of Business at the University of Washington and a BA in Finance from Eastern Washington University.

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The Evolution and Elevation of the Financial Professional With Thane Stenner (Ep. 31)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , ,

The Japanese have a concept called Kaizen, which means “constant and never-ending improvement.”

If you want to become the advisor of the future and avoid a growth plateau, it’s important to strive for Kaizen.

In this episode, Duncan MacPherson speaks with Thane Stenner, CIM®, FCSI®, senior portfolio manager and senior wealth advisor at Stenner Wealth Partners. They share proven strategies to engineer professional contrast and achieve constant growth.

They discuss:

  • The evolution of the financial industry from transactional to relationship-focused
  • How he grew his business by reducing the number of clients
  • How to mold the way your clients articulate your value to their network
  • Every reason to be at the front of the change curve (even if it means making mistakes)
  • And more

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About Our Guest:

Thane Stenner is based in Vancouver, British Columbia, Canada and is a Senior Portfolio Manager & Senior Wealth Advisor of Stenner Wealth Partners+ at CG Wealth Management Canada and CG Wealth Management (USA), Inc. He has spent more than three decades understanding and managing the unique financial complexities facing wealthy investors, family offices, and institutional fiduciaries in North America. Thane is cross-border licensed with FINRA in the USA, and with IIROC in Canada, with clients based in San Francisco and The Bay Area as well as across Canada. He is a Fellow of the Canadian Securities Institute (FCSI®), the highest Canadian Securities Institute designation and Chartered Investment Manager (CIM®), the recognized standard for portfolio management.

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The Advisor of the Future With Mike "Cy" Cajthaml Jr.

The Advisor of the Future With Mike “Cy” Cajthaml Jr. (Ep. 30)

Advisor, Education, Finance, Financial, Uncategorized, , , , , , , , ,

If you want to distinguish yourself from the advisor down the street, you’ll need to create a memorable client experience that extends beyond financial expertise. This includes being highly process-driven, keeping up with clients’ evolving needs, improving communication, and more.

In this episode, Duncan MacPherson speaks with Mike “Cy” Cajthaml Jr., a business consultant at Pareto Systems. They explain what it means to be the advisor of the future and strategies to move from organic to scalable growth.

Mike discusses:

  • What to do if you have maxed out and hit a growth plateau
  • The importance of clear communication — both internally and externally
  • How to make your value feel more “tangible” to clients
  • Key points to keep in mind while creating a succession plan for your business
  • Reasons to decommoditize, demystify, and depersonalize your practice (and how)
  • And more

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