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Jay Coulter, is an investment strategist, practice management consultant, author, podcast host, and award-winning business speaker. He is the Founder of Pinger Systems, a training and technology firm, and has a consulting practice through RC Whatley & Company, both businesses focused on serving advisors, their teams and their firms. Jay also started a non-profit organization called ConquerWorry.org™, which has grown into a global platform. Jay holds his CFP™, CIMA® and has an MBA.
Takeaway Quote:
“If you engage with your community in an authentic way, your platform grows exponentially.”
Show Timeline:
1:18 Jay’s history in the financial services industry
From being an advisor to helping advisors implement best practices
3:04 How Jay has built a large online network
The three drivers behind a solid brand
5:59 The importance of consistency in delivering content
The challenges and benefits that come with that consistency
7:49 Making an authentic connection
How engaging personally with people affects the growth of the platform
11:56 Thoughts on blogging
How advisors can get started easily and effectively to start building their brand
15:06 Increasing engagement via podcasts
An idea for drawing people into an episode before they download it
17:45 How advisors can become thought leaders in their markets
Optimizing the usage of digital platforms and groups to connect with your niche and drive referrals
21:56 The science behind influence
Lessons learned from one of Jay’s favorite books
24:36 Why having a relationship management system is critical to becoming referable
Jay’s example of a simple but effective ‘pinger system’
30:00 Jay’s strategy of a digital supernova campaign
And how you can start yours using the resources he has provided for our listeners
Links:
Website: https://www.jaycoulter.com/
Resource for Becoming Referable listeners: https://www.jaycoulter.com/becomingreferable
Podcast & Blog: https://www.jaycoulter.com/blog
Books: The Resilient Advisor, Conquer Worry
Twitter: https://twitter.com/sjaycoulter
LinkedIn: https://www.linkedin.com/in/sjaycoulter/
Instagram: www.instagram.com/sjaycoulter
Facebook: www.facebook.com/resilientadvisor
Other resources mentioned: Influence: The Psychology of Persuasion, Never Eat Alone
Want more?
Stephen Wershing: www.TheClientDrivenPractice.com/checklistblog
Julie Littlechild: www.absoluteengagement.com/blog
Episode Transcript:
Julie:
Welcome to another episode of Becoming Referable. The podcast that helps you be the kind of advisor people can’t stop talking about. I’m Julie Littlechild and on this week’s show, Steve and I are speaking with Jay Coulter.
Jay is an investment strategist. He’s a practice management consultant. He’s an author. And he’s a speaker. He doesn’t just run one business, that would be too easy. He has two businesses that focus on helping financial advisors, their teams, as well as their firms. Jay is also the host of the Resilient Advisor podcast. And I’ve had the pleasure of being a guest on that podcast, so it’s nice to turn the tables on Jay today.
We talk to Jay about how he’s been so successful in building a platform that literally reaches hundreds of thousands of people and the lessons that advisors can learn from that. We talk to him about the science of influence and how that can impact your growth. And we walk through a systematic approach for staying in front of clients and prospects. And with that, let’s get straight to our conversation with Jay.
Well Jay, welcome to the show. So thrilled to have you here today.
Jay:
Thanks so much for having me.
Julie:
So look. I want to talk a lot about the work that you’re doing. But I think it might be really interesting and helpful to start with a brief history of Jay. So I know a big part of your career has been working as an advisor. Is that right? Can you talk a bit about your path from there to here and what you’re doing today?
Jay:
Yeah, absolutely. So in a nutshell, I’ve spent about 20 years in the financial services industry, primarily serving financial advisors in various roles with large asset manager brands. Like Lehman Brothers, Schwab, Morgan Stanley, Guggenheim. But I did work for three years after the ‘08 crisis as a portfolio manager and financial planner on a team at a wirehouse. And that experience has really helped me serve financial advisors as a consultant since I’ve sat in their seat before. In the last couple of years, I’ve really been focused on my consulting and coaching businesses that serve financial advisors.
Julie:
Okay, great. So you had that view as an advisor, but you’ve been watching advisors and working with them and seeing the challenges that they had. And I assume that that led you to the business that you’ve got today. What were some of the problems that you thought you could solve and really wanted to help advisors to solve?
Jay:
From the seat I’m in today, I have a really, really interesting view, in that I get to work with large IRAs to wirehouse producers to the independent. So I get a view on really what some of the top advisors are doing in terms of best practices. And really, from this consultant seat, I’m able to help advisors implement those types of systems inside their practices.
Julie:
Yeah. That makes sense. One of the things I’m interested in is that you’re helping advisors obviously to build their businesses, but looking at your own business, you have built a really incredibly large network of your own. So you really walk the walk in that way. I was looking, I don’t know if I’ve got all the numbers right, but it looks like you’ve got over 200,000 social media followers, a podcast that is heard in 90 countries. Can you just talk to us about your own experience in building that network? What worked? What didn’t? And the impact that that had on the business.
Jay:
Absolutely. And I get asked this question a lot just because we do have a pretty substantial following on social media, or as I like to call it, digital media.
In 2012, my wife and I realized that we could significantly grow our non-profit by leveraging those digital media platforms and really we built that brand by trial and error. And through that whole trial and error process of growing, leveraging Twitter, Facebook, Instagram, we learned that there are really three drivers to building a brand that I was then able to go and apply to my professional platform. And that platform is The Resilient Advisor, where we have a podcast, a book. And I use that to get my content out in the marketplace.
And those three drivers are value, consistency and authentic connection. So when you think about adding value to the marketplace, what we learned in the beginning is any time we were in the market, posting about things that only we cared about or anything that came across as a sales pitch, we really didn’t see a whole lot of engagement. Now, that makes sense to everybody on this podcast, but in 2012, that isn’t really the way the market was doing it. We switched gears and we made sure that all we did was add value to the people who were following us. And we saw our number of followers and the people engaging in our community skyrocket.
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