Does asking for referrals make you feel like you’re being needy? Are you afraid of hurting your existing relationships with clients and COIs?
When asking for referrals, your words matter!
Catch Duncan MacPherson’s conversation with Bill Cates, referral coach and author of “The Language of Referrals,” about the art of being referable and mastering the concept of introductions with professionalism and stewardship. They highlight the biggest barriers to referrals and how to overcome them by using the right language.
They discuss:
Subtle word choices that have a profound impact on your referability
How to attract more of your “ideal clients”
How to build trust with centers of influence
Sample scripts and power phrases that you can instantly apply to your conversations
Bill Cates, CSP, CPAE, works with financial advisors to speed up their growth without increasing their marketing budget. Advisors tap into Bill’s proven process to multiply their best clients through introductions from advocates and Centers of Influence, communicate their value proposition more effectively, and create a reputation in a profitable target market. Bill helps advisors move from push prospecting to magnetic marketing – to attract more Right-Fit Clients™.
Bill is the author of 3 best-selling books, Get More Referrals Now, Beyond Referrals, and Radical Relevance. Bill’s newest book, The Language of Referrals is due to be released in March of 2024. He is the founder of The Cates Academy for Relationship Marketing™, has been named the #1 Financial Advisor Influencer by Indigo Marketing, and is the host of the acclaimed Top Advisor Podcast (www.TopAdvisorPodcast.com) – now ranked in the Top 10% of podcasts worldwide.
The complexities of passing on a legacy and managing family dynamics can be overwhelming, especially for first-generation business owners.
As their advisor, how can you help prepare their heirs and transition wealth smoothly?
Find out as Duncan MacPherson speaks with Tom Deans, Ph.D., intergenerational wealth expert, speaker, and best-selling author of “Every Family’s Business” and “Willing Wisdom.” They explore how advisors can improve client retention and referrals by addressing one of the biggest unmet needs of self-made first-generation business owners and professionals — continuity and succession planning.
They discuss:
Major challenges faced by business owners during succession planning
How advisors can set the stage for successful wealth transfer
Why multi-generational family meetings (with the advisor present) can be incredibly powerful and revealing
Strategies for addressing complex family dynamics
A sneak peek into Tom’s upcoming book: The Happy Inheritor
Tom Deans, Ph.D.’s research and thought leadership on the subjects of wealth transfers, preparing heirs, and family dynamics have made him an in-demand speaker and webinar presenter. He is the author of the best-selling family business book of all time, Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth, listed by the New York Times as one of the top ten books business owners should read. His second book, Willing Wisdom: 7 Questions Successful Families Ask, offers a creative process to bring transparency to a family’s estate plan. More than two million copies of his books are in circulation.
Dr. Deans gives more than 100 speeches a year on the subject of intergenerational wealth transfers, preparing heirs, and business succession planning. Over the past 17 years, he has delivered more than 2,000 keynote speeches in 28 countries on four continents. He has also provided advanced training to advisors employed by the world’s largest financial institutions, law firms, and accounting firms.
With messaging, the key is brevity, specificity, and proprietary.
You must choose your target audience, personalize your marketing to resonate with them, walk them through a proprietary process, and share their experience using effective testimonials!
Learn more about elevating your brand in this episode, as Duncan MacPherson speaks with Seth Diener, owner of Diener Money Management, and Alex Lerch, director of Oak & Stone Advisor Marketing. They explain how advisors can better focus their marketing efforts on their ideal audience — and then harness the power of AI during the implementation phase.
They discuss:
The multi-fold benefits of giving your process an identity (i.e., a brand within a brand)
How to garner a newfound appreciation from existing clients
How to use client testimonials in multiple ways and make the most out of them
Using AI to craft content (especially when the average human attention span is at an all-time low)
Seth J. Diener is an independent Private Wealth Manager and is the founder of Diener Money
Management, a financial services firm in Newtown, Pennsylvania.
Seth is a proud Pareto graduate and has implemented his proprietary process, The Flourish Formula,
throughout his operations, marketing and practice.
Alex Lerch is the Marketing Director for Oak & Stone Advisor Marketing, specializing in assisting
financial advisors for nearly a decade. He excels in developing marketing systems for advisors within
their practices, referral strategies, communication plans, and modern media to help advisors grow
their firms.
With a deep understanding of the industry and a focus on personalized solutions, Alex has established
a reputation as a trusted partner for financial advisors seeking marketing support.
Want to receive maximum value for the business you’ve worked so hard to build?
The key lies in being proactive with your exit strategy.
Dive into a thought-provoking conversation between Duncan MacPherson and returning guest Ted Jenkin, CEO of oXYGen Financial and president of Exit Stage Left Advisors. Together, they uncover practical insights to streamline your operations, improve client acquisition, and scale your credibility — ultimately garnering a higher multiple for your business.
They discuss:
The critical role of recurring revenue in enhancing enterprise value
Creating “proprietary” value as an advisor
Using client testimonials and online reviews to build trust
How to leverage AI for content creation (with a list of helpful resources)
How an exit plan helps you de-risk in the face of uncertainty and volatility
Ted Jenkin is a serial entrepreneur with more than 15 years of experience in building and selling successful businesses in various sectors, such as finance, media, insurance, bookkeeping, and technology. As the President at Exit Stage Left Advisors, Ted helps small and medium-sized business owners maximize their valuation and get top dollar when they sell their companies.
Ted has multiple credentials in the financial industry, including Certified Financial Planner, Chartered Retirement Plans Specialist, and Accredited Wealth Manager Advisor. He is also a national media personality, appearing on various outlets such as Fox, CNN, HLN, The Weather Channel, WSJ, CNBC, and more. Ted hosts a national entrepreneur podcast called The Shrimp Tank and a national small business television network called America’s Small Business Network. His mission is to empower and educate business owners and individuals on how to achieve the highest possible multiple when they sell their business.
In your mind, you have a certain brand image and value proposition for your business. Do your clients see it the same way?
Are your clients well-equipped to tell your story for you and be your biggest advocates?
Join Duncan MacPherson and Mike “Cy” Cajthaml Jr., a business consultant at Pareto Systems, as they delve into the power of client advisory councils in uncovering unmet needs, elevating the client experience, and achieving professional contrast. You will learn a turnkey approach to simplify the process and make client advisory councils a routine best practice.
They discuss:
The complete process and logistics from ramp-up to execution to follow-through (with an example)
How to conduct effective, agenda-driven discussions that lead to actionable insights
How to position the idea of advisory councils to your clients for the first time
Why client feedback can result in improved referability
The added benefit of finding a renewed sense of purpose for advisors
Mike “Cy” Cajthaml Jr. has distinguished himself in the financial services industry over a remarkable 17-year career, marked by his vibrant and effective leadership style. He’s deeply committed to enhancing business and practice management strategies, always focusing on the achievement of his clients’ goals.
Mike’s career in the financial service industry was initiated at a major insurance-marketing organization, where he played a pivotal role in advising financial advisors nationwide on product solutions and marketing strategies. After dedicating six years to advising and coaching in the financial realm, Mike transitioned to become a financial advisor, collaborating with his father in Overland Park, KS. Their partnership managed substantial asset portfolios, leveraging a variety of insurance products. Mike’s firsthand experience with the Pareto Process, coupled with his insights from working with successful financial advisory firms, reinforced his belief in its transformative impact.
Driven by his conviction in the Pareto Process, Mike embraced the role of a Pareto coach. His unique blend of wholesale and retail experience empowers him to assist numerous advisory firms in integrating these processes, ultimately enabling advisors to realize their ideal lifestyle.
Whether you like it or not, the world is quickly adopting artificial intelligence (AI).
Now, the choice is yours — Do you want to get on board and leverage AI to improve your business? Or do you want to risk falling behind other advisors?
To stay ahead of the curve, Join Duncan MacPherson and Craig Kirkpatrick, founder of Act-Three Consulting, to learn how to use AI to save time, connect better with clients, and expand your knowledge along the way. This insightful conversation will expand your thinking around how AI is here to serve you, not hurt you.
They discuss:
A methodical approach to AI prompting for better results
How to use AI for faster content creation (with insights about navigating compliance)
A list of up-and-coming AI tools that may be relevant to your business
Real-world examples of successful AI applications
Why the “human touch” will become even more important with the adoption of AI
With over three decades of seasoned experience in the financial services sector, Craig Kirkpatrick is committed to educating advisors to help them better serve their clients. His Act Three journey is characterized not just by his prior achievements, but with relentless curiosity and dedication to empowering financial advisors through the understanding and application of Artificial Intelligence and Blockchain technologies.
Craig deeply values the potential of AI to enhance client interactions in financial advising, advocating for its integration as a tool for smarter decision-making and stronger relationships. His interest in blockchain, with certificates by DACFP and CAIA, underpins Act Three’s vision of understanding through education. Craig also co-founded Orinda Asset Management, where they launched pioneering liquid alternative mutual funds. Before Orinda, Craig co-founded Kensington Investment Group which launched one of the first long-short REIT mutual funds, a REIT preferred fund, and a global infrastructure fund. Craig is a grounded professional, who, through Act Three, continues to explore and advocate for the future of financial planning and asset management, guided by innovative technologies.
The transition to fee-based services has prompted advisors to prioritize fee-worthiness, with clients focusing less on cost and more on perceived value.
Plus, the complexities of relationship management may be amplified in a B2B upscaling model.
In this episode, Duncan MacPherson speaks with Bill Sowell, CEO of Sowell Management, about the distinction between salesmanship and stewardship, and what it takes to cultivate lasting client relationships. They also talk about the shift from a B2C organic growth model to a franchise-ready B2B upscaling model.
They discuss:
Being a consolidator versus adopting a methodical organic growth model
How Bill’s firm struck a powerful balance between the proverbial Wall Street-Main Street dynamics
Why advisors should never lose sight of relationship management
The path to strong advisor partnerships and an effective fit process
How technology and the Great Wealth Transfer are shaping financial services
Bill began his career in the financial services industry in 1990 and quickly became a top producer within the industry. In 1995, he began a fee-only practice now known as Sowell Management, which services a broad spectrum of some of the top Independent Advisor Representatives (IARs), and Registered Investment Advisors (RIAs) in the United States. He and his wife, Cindy, have worked as a team for more than 20 years. Bill is a bridge builder. He is passionate about helping advisors see an independent and prosperous future and guiding them through the entire journey.
In the fast-paced and ever-evolving world of financial advising, get ready to discover timely and timeless strategies that help you achieve professional contrast and create enduring value for clients.
In this 50th-episode special, Duncan MacPherson is back with co-author of The Blue Square Method, Chris Jeppesen, Chief of Advisory Practices at First Trust. Gleaning from their life experiences and the success stories of high-performing advisors, they share valuable best practices to achieve long-term growth.
They discuss:
Why more and more advisors are finding personal rejuvenation in their work
The upcoming retirement wave in the industry and the opportunities it presents
A process-driven approach to exhibiting empathy and personalization
How AI is revolutionizing financial services
The power of testimonials in building trust and attracting clients
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 and The Blue Square Method.
For years, financial advisors saw themselves as brokers, being mostly transactional and product-driven.
Today, advisors wear many hats. It’s no longer just a book of business, but an actual business!
In this episode, Duncan MacPherson joins Max Winthrop, CEO, and Lucas Winthrop, COO, of Winthrop Wealth and long-time clients of Pareto Systems. They emphasize the importance of embracing a C-suite approach to streamline core business functions and deliver a consistent and elevated client experience.
They discuss:
How to build effective functional teams with high functional accountability
How key C-suite positions can be refined and optimized for an advisory practice
The need for a philosophical alignment across the firm, which spills over to clients and strategic partners
Strategies for creating a process-driven and well-integrated business structure
Max Winthrop is the Chief Executive Officer at Winthrop Wealth. Max has consistently challenged the industry norms for wealth management providers, investing in creating a team-based wealth management experience that is complemented by a cutting-edge technology platform. He has over ten years of experience in the financial services and investment management industry. He is responsible for setting the firm’s strategy, broadening the service offering, and constantly working to enhance the client experience.
Max spearheaded the creation of the Winthrop Wealth Registered Investment Advisor (RIA) in 2017, implementing a partnership structure, a scalable technology infrastructure, and built out an experienced team of professionals. Since the creation of the new RIA, Winthrop Wealth has grown its asset base of regulatory advisory assets, won numerous employer awards, and was recently named to the INC 5000 (2021) list of fastest growing private companies.
Max’s prior work experience with a Fortune 500 Financial Organization equipped him with a leadership/management skillset. He also spent time as an investment analyst structuring large, institutional, Regulation D private placements.
Max believes that the industry needs an injection of youth and is working towards extending services, previously reserved for only wealthy individuals, to the younger millennial generation.
Lucas Winthrop is the Chief Operating Officer at Winthrop Wealth, where he collaborates with the leadership team to shape the firm’s strategic direction and plan. He plays a crucial role in focusing and marshaling firm resources to see the firm’s vision come to fruition. Winthrop Wealth’s current strategic plan includes initiatives related to building exceptional teams, implementing innovative solutions, and designing streamlined processes and structures to help drive scalable, positive outcomes. With over a decade of experience in financial services, Lucas is determined to disrupt outdated industry practices and usher in a new era of possibilities by focusing not on what has been but instead asking what could be.
To drive business optimization and strong business performance outcomes, Lucas focuses on anchoring and fostering a culture of collaboration and innovation that is ready to disrupt outdated industry practices or take advantage of disruption. Since launching the RIA alongside his brother Max in 2017, Winthrop has achieved remarkable success, including securing a coveted position on the esteemed INCE 5000 (2021) list of the fastest-growing private companies. Before joining Winthrop Wealth, Lucas was co-founder and CFO of a non-profit organization, and co-founded a music entertainment company.
Lucas’s obsession is to find out what interests and drives those around him and to unlock their utmost potential. With a profound love for the financial services industry, he enjoys connecting with his industry peers and assisting them in optimizing their businesses.
Have you ever stepped into your clients’ shoes to see your business from their point of view? Understanding how they perceive your value is key to building lasting relationships.
In this episode, Duncan MacPherson engages in a thought-provoking conversation with Steve Phillips, Chief Practice Management and Development Officer at USA Financial and a consultant at Pareto Systems. Together, they explore strategies for effectively articulating your value proposition and turning clients into enthusiastic advocates.
They discuss:
Three golden questions to ask your existing clients
The path from endorsements to introductions (i.e., quality referrals)
How “client advisory councils” and “ideal client meetings” can rejuvenate your relationships and generate valuable feedback
Powerful ways to position (not pitch!) your value to clients
Steve Phillips is the Chief Practice Management and Development Officer, joining USA Financial in 2019. He leads the coaching and consulting team working with USA Financial advisors to increase the enterprise value of their firms through tailored ongoing and evolving practice management initiatives. In addition to Steve’s integral role within the coaching team, he works with the sales team to develop strong and productive partner relationships with advisors. This interconnective approach between coaching and sales strategically elevates the overall client experience provided.
Steve Phillips is also a Pareto Certified Practice Management Consultant at Pareto Systems. He has spent over 25 years in the financial services industry as a speaker, trainer, and educator working with advisors, product development firms, and carriers.
