The biggest value-add advisors offer to their clients does not lie in the rates of return or complex financial reports. It lies in the advisor-client relationship!
In this episode, Duncan MacPherson speaks with Tyson Ray, CFP®, CExP®, CIMA®, founding partner at FORM Wealth Advisors, about the concept of Total Relationship and how it can help you grow your business organically — while maintaining a sense of purpose.
Why relationship-based growth might be better than growing through acquisitions
Areas where financial advisors add significantly greater value than AI coaching
Strategies to improve relationship management (For example, Up or Down™ by Tyson)
Tyson Ray first learned about investing and the stock market during an economics class in his sophomore year at Badger High School, and at 16 years old, he decided to invest $100 into two different mutual funds. This was his first step on a path he continues to traverse today: using financial strategy to help make people’s lives better.
Over the past 25+ years, Tyson has sought to expand his knowledge and expertise through Yale School of Management, Investment Management Theory & Practice, CIMA Certification Registration Education Program, including obtaining the Certified Investment Management Analyst® (CIMA®) Certification and through the College for Financial Planning for the CFP® Certification, including obtaining CERTIFIED FINANCIAL PLANNER™ Certification. Tyson received his Certification in Business Exit Planning to better help entrepreneurs and business owners transition to selling their life’s work.
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.
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)
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.
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.
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
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.
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.
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?”
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.
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.
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
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.
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.
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
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.”
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.
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
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.
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.
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
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.
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.
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
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.
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.
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)
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.