Pareto Systems Video Feedback - David Hays

December 14, 2023

Video Transcript

Speaker: David Hays

Hey there, I'm David Hays from Bloomington, Indiana. I wanted to share a couple of things with you as it relates to the Pareto Systems. I first joined Pareto as part of a study group that I was part of. Some went EOS, some went Pareto kind of based on where they were with their practices. Been a financial advisor for 29 years, headed into 30 years and just felt like I was needing a push in the right direction. So I picked Pareto and I was fortunate enough to have Scott Hamilton as my coach, very successful gentleman on his own, right. A musician as well. Learned a lot about him and his family, which has been nice. My wife says it's my best friend that I've never actually met in person only via Zoom. Uh It's been a fun journey. I hooked up in 2020 19. We then took a little hiatus during COVID just a brief hiatus and then got right back to it. And I began working with them because I wanted to be better. I wanted to do more and have more fun. And that's what Pareto has helped me in with coach Hamilton's assistants do. Now, the other question would be my, my biggest significant challenge. So part of it is the 80/20 right? So you focus on the top 20% clients, you segment your book, which I'd never done before. He assisted in that we identified the profitable portion of my book, which was my top 40 clients. How to laser focus in on them, how to uh attract what he refers to or pray to as AAA clients, assets, right? Attitude and advocacy. Teaching you how to become a sounding board for clients, friends, families, people that they care about. If you care about them, we care about them as well. So just a lot of techniques, tips and tactics to do that and it's work. I had a challenge. My own challenge was what will my older legacy clients think, right? When I start to hand them off to an associate advisor? Well, guess what? It's not that hard. It was in my head, not their head, he's done a great job. I had to be involved in the beginning of introducing them and maybe even still for the first year or two before they weaned off of me completely and on to Jared, which is my associate advisor. So he's done a great job with that. As far as my growth from an asset perspective, honestly, I never really tracked things that closely. We had random success here at my office. growing always had money in the checkbook. Everything was fine. But, you know, I'd find myself showing up at 5, 6 in the morning trying to bang out a plan. Well, we have a great financial engineer. I call him that helps alleviate all that stress. So now all I do is what I enjoy doing, which is meeting with people, inspiring them, getting them to say yes and then just getting out of the way of the of the engine and Scott in the Pareto System has helped me with that. So one thing is tracking its goal setting. So Scott was able to help us visualize like where we wanted to be in 10 years and then break that down 5 3, you know, into one, even into quarters in the month. So my goal was to bring in a certain amount of assets uh for the year, which meant when you can break that pretty easily down into month and then really even into weeks or what did I do this week to do that? So, the accountability of having him with me every two weeks and you don't want to disappoint Scott for some reason. He has AAA mean way about him that you just don't want to disappoint him. I'll disappoint myself all day long when given the opportunity, but I hate disappointing other people. So whenever I say I'm gonna do something. I generally do it and that's because of having the accountability with him. So, as far as a, a true success story, well, I can tell you this when we first started, with Pareto, I think we were billing on about 280 million of assets. We're now building on 477 million of assets. We have a path for growth going forward. That's, that's going to be much easier than what we had been experiencing in the past. Great people. We have not been afraid to hire people. We're always hiring, that's our theme around here and it's just been great. So for anybody that's stuck like me after 20 - 25 years in business and you're like, man, I, I'm not having as much fun as I used to have. they like hell hell out if you step back, recognize what you love about what you do. They don't try to change. You don't try to change the, the way you look at the world or the what you enjoy or what you don't want to do. Yeah, they just help you and encourage you and,

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