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.
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.
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.
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.
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)
Q4 is the perfect time to finish the year with a bang, especially as we come out of an unprecedented disruption. It’s also the perfect time to build momentum and prepare to fast-track success in the New Year.
In this episode, Duncan MacPherson highlights four key steps financial professionals should take to maximize their client relationships and position their businesses for a strong and profitable final quarter of 2022, and for a great start to 2023. These strategies are easy to implement and translate into results quickly and predictably.
A proven process to rejuvenate relationships with your best clients and amplify growth through advocacy
How to make timely adjustments to increase efficiency and productivity
Sample scripts to use in client meetings (and holiday cards!)
Tips for maximizing your value during volatile market conditions
There’s a huge difference between someone buying your products versus someone buying into a relationship with your practice, people and process.
Adding a coaching dynamic to your practice can help you win and retain clients in the long run.
In this episode, Duncan MacPherson talks to Jeff Ambrose, business consultant at Pareto Systems. They share strategies to create professional contrast as the financial industry becomes increasingly commoditized.
Action items that every advisor should have on their client meeting agenda
Why clients might be seeing only 5% of your total value (and how to fix it)
How coaching improves your relationships — especially with high-net-worth clients
Jeff Ambrose has 20 years of experience in the financial services industry working with successful advisory teams through his wholesale relationships. He has consistently met and exceeded goals in every aspect of his career; growing revenue with existing clients, attracting new clients, and turning around failing territories resulting in consistent promotions leading up to Senior Vice President and, most recently, Partner.
Jeff’s success in the industry has been driven by his talent for crafting winning strategies. Putting relationships first, focusing on value that is accretive to an advisor’s practice, and positioning himself as a true strategic partner has allowed him to enjoy tremendous success at the firms he’s represented. His passion, and his talent as a mentor and coach, became well-known to his leadership, peers and advisors. He has been dedicated to helping advisors implement strategies to grow their business; such as turn clients into advocates, and competitor-proof and brand their practice. Jeff now works with select groups of advisors helping them attain their professional and personal goals through proven Pareto processes.
Purchasing power, operational processes, client experience, core values…There are several nuances you might consider while screening potential buyers/sellers.
Such due diligence is key to finding your ideal match in M&A.
In this episode, Duncan MacPherson talks to Katie Bruner, managing partner at SkyView Partners. They share the ultimate “acquisition checklist” that helps buyers in winning deals and sellers in weeding out unqualified purchasers.
Key factors (both financial and non-financial) that affect your ability to secure M&A deals
How to ensure greater client retention after an acquisition
The “intent, consent, implement” process of finding the right-fit partner
How current market volatility is influencing the M&A landscape
Katie brings over 20 years of experience in the financial services industry to the SkyView Partners team. Currently, she oversees sales, marketing, and distribution for SkyView Partners, in addition to loan sourcing through strategic partnerships and multi-medium channels. In January 2021, Katie assumed the role of leading overall strategy and M&A initiatives for SkyView Investment Bank. Prior to SkyView, Katie served as a Director – National Accounts at Principal Financial Group for 13 years, where she was responsible for cultivating and growing the major independent and regional broker relationships. Before joining Principal, Katie was employed by Fidelity Investments in their non-profit retirement plan group. Katie graduated with a bachelor’s degree in Economics and International Relations from the University of California, Berkeley.
When the time comes to exit your business, the goal is to drive your enterprise value, maximize your exit strategy, and elevate yourself qualitatively in the process.
In this episode, Duncan MacPherson talks to Ted Jenkin, CEO of oXYGen Financial, about the three E’s of successfully liquidating a business. They highlight steps advisors must take today to have a successful business exit in the future.
How liquidity events create a sense of self-actualization and personal fulfillment
Major drivers of enterprise value (and how to achieve them)
Negotiation tactics to secure the best deal for your business sale
Why now is an opportune time to consider 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.”
Legacy planning is much more than transferring money from one generation to the next. It’s also about transferring values. If you simply “give” the money to your children, they might lack the wisdom, grit, and satisfaction of accomplishment that only struggle and adversity can bring.
In this episode, Duncan MacPherson joins Richard Watts, author of Entitlemania: How Not To Spoil Your Kids, And What To Do If You Have! Having been the wise counsel to many of America’s wealthiest families, Richard shares how you can help your clients prepare their children for the real world, instead of spoiling them with free money.
How to prompt wealth transfer conversations that your clients might not like
Why first-generation earners should not deprive their children of experiential learning
Real-life examples of families who have adopted the “tough love” approach
How to take your relationship management to the next level
Richard Watts, lawyer, author, columnist, speaker, and problem solver, is the wise counsel to many of America’s wealthiest families. They rely on him to guide their families and journey through the rapids of life. From behind these castle walls, Richard provides the wisdom and counsel to avoid the pitfalls of excess and entitlement. The founder of Family Business Office ® (“FBO”), Richard was admitted to practice law in 1982 and is an alumnus of the Harvard Business School. He has appeared on numerous television programs and authored articles as an expert on how money often complicates the “simple life”. Author of Fables of Fortune: What Rich People Have That You Don’t Want, and Entitlemania How Not To Spoil Your Kids, And What To Do If You Have!