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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?
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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
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2019-11-20 • 20 second read

At The Woodlands outside of Houston along with Melissa Taylor, Jared Todd and Michael Sloboda at First Trust presenting on our Total Client Engagement process for a great group of fee-for-service professionals.

2019-11-19 • 5 minute video

Listen in on Duncan speaking with his team of consultants in this episode of Lightning in a Bottle.

Duncan talks to his team about what makes an advisor different and how that applies to their branding strategy.

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2019-11-19 • 3 minute read

As I eased into the chair at the shoe shine booth, I half-jokingly asked the man if he could make my tired shoes look new again. To my surprise, he answered, “You have to do a lot of things for your shoes long before you get them shined if you want to keep them looking like new.”

What followed was a five minute clinic on shoe maintenance. “First,” he told me, “you have to get cedar shoe trees. Put them in your shoes each night and they’ll prevent them from looking like Ali Baba’s.” In other words, your shoes will keep their shape. “Secondly, buy some lanolin cream like the stuff I’m using right now and apply it every couple of weeks. That will keep the leather soft and moist, prevent cracking and stop embedded creases from developing.”

All the while, as the lesson continued, he performed what was the most efficient and skilled shoe polishing I had ever experienced. I was told to only buy shoes with thick soles, since thin soles don’t look as “strong or confident”, and to use lace-up shoes only for business, as well as a number of other helpful tips. 

So why am I sharing this with you? Because everything is a study, and knowledge is everywhere, even at the foot of a shoe-shine chair.

Learn by Formal Study and Learn by being Aware

One of my favorite business philosophers, Jim Rohn, told me that a formal education will help you earn a living, while continual self-education can make you rich. It is true that income rarely exceeds self-development.

The word ‘autodidact’ means that you are self-taught rather than formally educated. But here’s the key: while your CE credits generally revolve around building your credentials, that is only one piece of the puzzle. Your success also depends on your ability to develop chemistry with clients, and that is a study as well. So just don’t study the markets, study marketing too. Many life skills and qualities lead to being attractive to the marketplace. Self-development shapes your character and philosophy. Appropriately enough, the word ‘philosophy’ stems from the Greek for love of knowledge. If you took it upon yourself to read one book a month on business development strategies, you would be in an elite group within this industry.

Look Inward at your Existing Clientele to Find What Works Best

But don’t stop at books. Study your existing business. How did you attract your favorite clients? I’m astounded when advisor engage in time consuming tactics such as seminars, direct mail campaigns, trade show and cold calling although none of their best clients were attracted this way. Replicate your best successes. If you track your client genealogy and discover that your best clients were referrals/introductions, invest your time and money in that area.

Turn Common Sense into Action

As practice management and business development consultants, our clients often say that they like our information because it’s creative. However, it is often not about creativity. Creativity, sometimes, is simply the ability to conceal your sources. Our clients are our best teachers, and their experiences help us help others navigate through their challenges. (If they hit us up for royalties, we’re sunk.)

We are constantly asked for new ideas. Here’s another breakthrough: there are very few new ideas, simply existing approaches that are refined and customized for one’s own situation. So look around and pay attention. Network and befriend other top advisors. They have knowledge and most of the time, they are prepared to share it with you. 

This article has largely been a collection of gentle reminders of things you already know. Sometimes you just need to hear them again. As Confucius said, ‘when the student is ready, the teacher will appear.’ But don’t delay and let the Law of Diminishing Intent rob you of the wealth of skills that stem from being a serious student. As the expression goes, “When all is said and done, often more gets said than done.” Now would be a perfect time to get busy.

Continued Success!

Contributed by Duncan MacPherson

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2019-11-19 • 20 second read

Duncan MacPherson in Toronto with Karl Chung and Colin White at First Trust Portfolios along with a great group of fee-for-service professionals attending an Echo Meeting.

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2019-11-18 • 20 second read

Oscar Wilde said, “A cynic is someone who knows the cost of everything and the value of nothing.” Don’t let the cynics dictate your approach. Find the people who share and value your approach and who have an alignment of interests with you. These are the people who embrace you so completely that they feel they are doing a friend a disservice by not introducing them to you.

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2019-11-15 • 20 sec

When you position the concept of a referral as a service you provide rather than as a favor you seek, and then drive it home with your sense of purpose, refer-ability is amplified. You don’t look needy and your value is easy to describe to others.

Learn more about our proven introduction process:

2019-11-14 • 4 minute video

Transform your client relationships from an abstract, commoditized and transactional model to decommoditize, depersonalize and demystify your value to gain your clients full empowerment and increase your refer-ability.

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2019-11-14 • 20 second read

In Palm Springs with two great coaches, Steve Phillips and Marci Fried along with an elite group of fee-for-service professionals at a Mastermind Session.

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2019-11-12 • 20 second read

Had a great time in Atlanta with Ted Jenkin and Lee Heisman discussing entrepreneurship on The Shrimp Tank Podcast.

Catch the podcast here:

2019-11-12 • 5 minute video

A discussion on leveraging the mentor/protege team dynamic to elevate the client experience.

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