In the latest episode of Bridging the Gap, Matt Reiner welcomes guest John Prendergast, CEO of Blueleaf, podcast host, and CEO of talking about media & tech in wealth management. Jump into a compelling discussion on the importance of authenticity in professional communication. Both Matt and John agree that advisors should utilize their strengths, be it writing, audio, or video, to foster genuine connections with clients. Diving into the challenges advisors face, they highlight the trap of overthinking and the liberation found in shedding self-consciousness to communicate more freely.
With media evolving rapidly, John points out the fierce competition for client attention, underscoring the need for advisors to master these platforms to engage effectively with their audience. Pushing the envelope of innovation, John embraces the necessity of risk-taking and learning from failures to advance within the industry. Both he and Matt share their personal journeys of curiosity and learning, from childhood dreams to continual self-education through various mediums. As the conversation turns to technology, John delves into the transformative power of AI in marketing and communication, from altering professional photos to deploying chatbots for client interaction.
Despite the financial industry’s resistance to change, he sees huge improvements on the horizon. John emphasizes the significance of personalized, consistent communication, leveraged through strategic AI applications, which was repeatedly stressed as key to the future of wealth management. They stress the importance of learning from setbacks and aligning oneself for continuous improvement. Lastly, John and Matt shift to the impact of modern media in the industry, and the need for advisors to adopt and excel in these platforms. Both Matt and John call for a cultural shift that highlights innovative advisors and recruits open-minded individuals who aren’t deterred by the prospect of failure. Most importantly, Matt and John reflect on the unique value advisors bring to the table through their authenticity and creative engagement with clients, positioning these qualities as the true differentiators in the financial industry. This is an informative yet insightful episode – you don’t want to miss it!
Timestamps From This Episode
[07:20] Solo advisors hustle and spend time exploring the power of media and YouTube to expand their podcast. They learn from experts, apply their findings, get feedback, and progress forward.
[16:11] Encourage open-mindedness and innovation, accept failures, and seek support for experimentation in business.
[31:28] Optimize client communication by engaging regularly and considering the context to break through the noise of competing media channels. Traditional advisors should move beyond quarterly reports and scheduled calls to effectively reach clients in today’s media landscape.
[44:14] John emphasizes opportunities for incremental improvement in the industry, particularly in leveraging client engagement for new offerings that can coexist with traditional financial planning. It emphasizes the difficulty of replacing existing products and the need to offer something significantly better to motivate change.
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About the Show
Bridging the Gap is a financial podcast hosted by CEO Matt Reiner focused on bringing together leaders from the finance and the technology industries to focus on innovating the financial services industry.
Host
Matt Reiner, CFA, CFP®
