I was going to call this blog post “The Top Five Podcasts for Financial Advisors,” but then I ran the post by my dad, who happens to perfectly embody my target audience, and he asked, “What’s a podcast?” So, let’s start from the beginning.
What is a Podcast?
A podcast is a radio show. Don’t let the funny word fool you; it’s a combination of “iPod” and Broadcast,” but the term is outdated since no one listens on an iPod anymore. A podcast is nothing but a digital audio broadcast.
The Golden Age of Radio lasted from the 1920s through the 1950s, until the TV took over. Today, people are going back to good old-fashioned audio shows, because there’s something nice about sitting (or walking or driving) and listening. Podcasts are simply audio recordings like radio shows, however, you can listen to them online or through your iPhone. There are some podcasts that are also videos, but most people listen to podcasts.
How Do I Listen?
Guys like my Dad can get on board with listening to a podcast, but may balk when it comes to accessing iTunes or their “Podcast” app. You don’t need an app to listen to a podcast and you don’t need to listen from your phone. The advantage of a Podcast app (which comes built into your iPhone) is that you can subscribe to your favorite shows and be notified of new episodes.
You can also automatically play back-to-back episodes during a long drive. We have a family cabin in Big Bear Lake, California, so I listen during the three hour drive up to the mountains. The time flies by and I always arrive with a slew of new marketing ideas.
A Podcast app isn’t required to listen; you can simply go to the podcast’s website and click to listen from your computer. Or, you can search for the podcast in iTunes and download episodes to listen offline, like when you are on a plane. Any way you listen, you can double down on your extra time and get a wealth of new ideas.
Why Are Podcasts Awesome?
Radio broadcasters used to need a relationship with a network to broadcast their show, but podcasts are easy to record and put online. This has given way to an incredible diversity of podcasts available.
For advisors, this matters because there isn’t much specific or valuable information about our industry on AM, FM, or Satellite radio, but there are incredible shows in podcast format. Today, I listened to this recap of the recent Barron’s Top Advisor summit, which featured interesting summaries and takeaways from top advisors.
Listening to podcasts keeps your finger on the pulse of our industry, offers ideas from experts, and is a great way to spend otherwise idle time. It’s like getting the benefits of attending a great conference without the travel or buffet lines. Try it out by listening to these top podcasts for advisors!
The Top Five Podcasts for Financial Advisors
Steve Sanduski’s podcast is my favorite because he knows everyone in the industry, asks honest and humble questions, and lands amazing guests. While Tony Robbins has been on the show twice, the greater value comes from his top advisor guests sharing their secrets for success and his deep discussions about industry trends.
The National Association of Insurance and Financial Advisors (NAIFA) puts out these episodes every few months, but they are worth the wait. Interviews with successful advisors highlight general practice management ideas and specific insurance-related discussions.
The XY Planning Network’s podcast with Alan Moore and Michael Kitces aims to help advisors grow firms serving younger clients within the X and Y generations (under 55). Focused on fee-only advisors, the hosts interview successful advisors about their business models and challenges.
Hosted by Russ Roberts of Stanford University, this cerebral show offers controversy and debate on the modern economy. It’s an interesting and entertaining way to get caught up on economic forces and geopolitical events.
This is the only dedicated marketing podcast for financial advisors from advisor marketing expert, Jovan Will, offering tips to grow your firm online. The show is relatively new, but gaining steam. You can check out my exclusive interview on the show here.
There you have it, and you may notice this is a pretty short list. There aren’t many podcasts in our industry yet, so there’s plenty of room for new stars. Have you considered starting a podcast? Which are your favorite shows? Please share the shows that you enjoy and happy listening!
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