The Pareto System program is available through Pareto Academy, which is an online virtual coaching application that allows financial professionals to access Pareto's Turnkey Practice Management Programs.
Available now in Pareto Academy
Continuous Refinement, Consistent Results
The Pareto System
20 Core Strategies delivered through a step-by-step process which includes videos, scripts, tools and templates. Learn how to uncover new assets, establish a steady stream of qualified referrals, run more efficient and profitable practices, and build and competitor-proof fiercely loyal advocates.
20 Core Strategies delivered through a step-by-step process which includes videos, scripts, tools and templates.
The Pareto System program positions financial professionals to:
Uncover new assets
Build and competitor-proof fiercely loyal advocates
Establish a steady stream of qualified referrals
Run more efficient and profitable practices
The Pareto System is hosted by Duncan MacPherson
Get Started
1) Introduction and Orientation
Introduction into The Pareto System program:
Organize yourself
Organize your clients
Organize your team
Define and automate an impeccable level of client service
Implement a proven process for establishing trust-based relationships with new clients
Implement a proven process for reestablishing trust and/or enhancing relationships with your existing clients
Create a framework to troubleshoot and monitor your progress towards your ideal business
2) Ideal Life
Identify your personal motivation for making changes to your business.
Establish a process to regularly review your personal and business objectives.
Ensure that you are using your time effectively and efficiently.
Adopt a professional business model such as a lawyer, dentist, doctor or accountant.
Make conscious choices about how you spend your time.
Establish set hours of availability.
Increase business productivity through focused time allocation.
Organize Your Clients
3) Client Classification
Define clear criteria for desired assets, attitude and advocacy of an Ideal Client.
Establish clear criteria for accepting or rejecting a potential client on the basis of assets and attitude.
Establish clear criteria for classifying existing clients on the basis of assets, attitude and advocacy.
Finalize your Client Classification process for implementation.
4) Right Sizing
Determine your current client mix.
Identify your most valuable clients.
Spend more time with the clients in your AAA, AA client groups.
Attract more preferred clients by concentrating your attention on you AAA and AA.
Implement a strategy for reducing the number of less desirable clients.
Create the Rave Factor
5) FORM
(Family, Occupation, Recreation & Money) Build the foundations for client-focused relationships that transcend money.
Increase your awareness and understanding of the specific needs, desires and goals of your best clients (AAA, AA and A clients).
Provide customized attention and exceptional client service to meet the individual needs of each of your best clients.
Enhance the level of trust you and your team have with your best clients.
6) Advocate Service
Improve client loyalty and build higher levels of trust with your best clients.
Enhance refer-ability by cultivating an experience that AAA and AA clients will want others to experience as well.
Implement a fixed service program for each client classification group.
Automate and deliver the Advocate Service Matrix consistently.
Use time, energy and money resources efficiently in delivering the Advocate Service Matrix.
Delegate each service activity to the applicable team member.
Create procedures for each service activity to ensure consistent and flawless delivery of your Advocate Service Matrix.
Introductions
7) Introduction Process
Take the Path of Least Resistance - When it comes to referrals, ensure the greatest odds of success by working with those clients that already have the assets and the attitude.
Deserve Referrals by being Referable - Ensure that the very best clients are getting the attention they deserve. Simply being a great Financial Advisor does not necessarily mean you will receive regular referrals. Distance yourself from the notion that referrals are exclusively tied to investment performance.
Regularly outline your Introduction Process to Top Clients - Position the idea of Introductions as a true service for top clients, and ensure that your clients understand how Introductions should be handled via your Introduction Process.
New Client Process
8) New Client Advocate Process
Create predictability for the Advisor and team in the process of bringing on a new client.
Ensure that each new client has the identical experience when they become a client.
Align your process for bringing on a new client with your Ideal Client profile and long-term business goals.
Create high levels of trust and rapport with a new client that will last for the duration of your partnership.
Demonstrate through your process, and your actions, the clear difference between you and other advisors.
9) Pre-Appointment
Begin using New Client Advocate Process.
Begin the process of building trust by make initial contact with a prospective new client.
Appear courteous and professional.
Create awareness about who you are and what you do.
Create understanding and awareness about your process.
To have a professional Introduction Kit to create awareness of your philosophy, process and approach with clients, prospective clients and professional partners.
10) The 1st Appointment
Establish rapport, trust and understanding with a prospective client.
Build client relationships using a forthright and well-understood meeting process.
Preemptively answer potential questions or concerns.
Set the stage for a productive, professional relationship.
Clearly articulate how you conduct yourself and what a client can expect from you.
Ensure that the FIT process is used with every new client.
11) The 2nd Appointment
Continue to establish rapport and build trust with your client.
Reinforce and clarify client goals.
Follow up the 'Is There A Fit' decision with the fact-finding required to prepare a Personal Financial Organizer (PFO).
Reinforce that you both made a well-informed decision about working together.
Deliver your Introduction Process.
Set the stage for the 3rd Appointment and the delivery of the Personal Financial Organizer (PFO).
12) The 3rd Appointment
Reinforce the approach you take in working with clients.
Reinforce your Introduction Process.
Present the Personal Financial Organizer (PFO).
Position the implementation of financial strategies as solutions for Critical Financial Events.
Ensure that you are not selling products and dwelling on investments.
13) Welcome Aboard!
Provide your new client with a 'soft landing', as your relationship gets underway.
Strengthen the relationship with the client after the business is done.
Create a deeper bond of trust with your client.
Create an experience your client will tell others about.
Existing Client Process
14) Existing Client Process
Enhance your relationship with existing clients by gathering further FORM further information.
Implement a clear and precise structure for you revised financial planning activities.
Outline the advantages of your improved process to existing clients.
Reevaluate your single 'A' client relationships using the Existing Client FIT Meeting Process.
Convey your Introduction Process to your triple 'AAA' and double 'AA' clients to ensure they know how to introduce others.
Deliver a PFO to the 'A', 'AA', 'AAA' clients.
15) Existing Client 1st Appointment
Initiate the rebranding process with your existing AAA, AA and A clients.
Provide them with a copy of your revised and/or new Introduction Kit.
Communicate a clear and precise structure for your enhanced financial planning activities.
Outline the advantages of your improved process to existing clients.
Identify and/or update the goals and objectives of your client to enable PFO preparation.
Conduct and thorough updating of their financial situation to enable PFO preparation.
Convey your Introduction Process to your triple 'AAA' and double 'AA' clients to ensure they know how to introduce others.
Reevaluate your single 'A' client relationships using the Existing Client FIT Meeting Process.
16) Existing Client 2nd Appointment & Welcome
Reinforce the key aspects of your practice and approach.
Reinforce the Introduction Process to ensure they know how to introduce others to you.
Deliver a PFO to each of your 'A', 'AA', 'AAA' clients.
Fully engage your top clients in the enhanced approach to managing their financial planning.
Competitor-proof your best clients.
Convert AA clients into Advocates - AAA clients.
17) Review Meetings
Ensure that you are thorough and consistent at every review meeting.
Reinforce your repositioned planning process at every review meeting.
Establish a consistent pattern from one review meeting to the next.
Reinforce your Introduction Process.
Monitor and update the Personal Financial Organizer at every meeting.
Business Management
18) Organize Your Team
Examine the current structure and organization of your financial planning team.
Identify the tasks that each member of the team is responsible for.
Effectively and efficiently delegate tasks and activities within your team.
Create a structured approach to ongoing team communication.
19) Initiate Quality Control
Review and document every aspect of your financial planning practice.
Make all staff members aware and accountable to operational procedures.
Facilitate the training of new or temporary staff.
Incorporate process automation of core business activities into your CRM.
Have the necessary scripting and templates for business communications.
Create the business procedures to ensure that your best clients have a consistent, congruent and accountable experience.
Reality Check
20) Reality Check
Define the purpose of your business.
Provide an accountability mechanism to ensure ongoing implementation of business systems.
Efficiently utilize the resources you have to operate your business.
