How to start a financial podcast: Tips from podcast host Reh Bhanji
- National Best Practice Leader at Desjardins
- Published on July 23, 2024
- Updated on September 10, 2024
Table of Contents
So you’re a financial advisor with a wealth of knowledge, years of experience, and a burning desire to share your insights with the world. But how do you reach beyond your client base and make a real impact in the financial industry? The answer might surprise you – it’s financial podcasts!
In early 2020s, I was exactly where you are now. I had an idea, a vision, but no clue how to turn it into one of the best finance podcasts in Canada that covers various finance & insurance topics and provides value to listeners. Fast forward to today, and I’m hosting the Discovery Series Unplugged Podcast, with over 50 episodes under our belt and a growing audience of engaged listeners.
Let me tell you, it wasn’t easy. I remember pitching the idea of a financial podcast to our team at Desjardins. They looked at me like I’d suggested we start selling samosas in the lobby! Challenging, to say the least. But the results? They’ve been nothing short of transformative to our company.
In this article, I’m going to pull back the curtain and share the 10 key lessons I’ve learned on my podcasting journey. From the importance of authenticity to the unexpected benefits of improv classes (yes, really). Trust me, if I can do it, so can you. Let’s dive in, shall we?
10. Get a Personal Finance Podcast Coach.
Let’s start with the podcast coach. Working with a podcast coach is crucial for creating a successful finance podcast. I know, I know. We’re financial advisors. We’re used to being the experts, not seeking them out. But trust me on this one, folks. Most need a podcast coach.
When we first started the Discovery Series Unplugged Podcast, I thought we had it all figured out. I mean, how hard could it be, right? Just talk into a mic about finance stuff and ask questions. Boy, was I in for a reality check.
Here’s the deal – a good podcast coach helps you nail down these four key areas:
- Who are you as a host? What’s your unique voice? For me, it was blending my financial expertise with my passion for storytelling.
- Your audience – who are they? In my case, it’s financial advisors hungry for insights and inspiration.
- Your message – what do you want to convey? I wanted to share best practices and innovative ideas in the financial industry.
- And finally, your purpose – why are you doing this? For me, it was about elevating the finance professionals and helping them make a bigger impact.
My podcast coach challenged me to dig deep. I remember she asked me, “If your podcast was a person, who would it be?” It seemed like a weird question at first, but it led to a breakthrough in how I approached my content, podcast hosting style and our audience. A good podcast coach also helps you avoid the most common traps. It isn’t always comfortable, but it is necessary. They’ve seen it all before.
Don’t be afraid to use social media. Have conversations with potential podcast coaches. Ask about their approach, their experience working with finance professionals, their success stories. And trust your gut. The right podcast coach should challenge you, but also make you feel excited about the possibilities.
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9. Sign Up for Improv Classes.
Let me tell you a secret. What helped me get over the sweaty palms before each Discovery Series Unplugged episode (other than the podcast coach) were the improv classes.
Improv? For a financial podcast? Trust me, it works wonders!
Improv teaches you to well… improvise! Improv teaches you to listen. Really listen. Not just wait for your turn to speak. It teaches you to be present in the moment. To really connect with your guest and your content. And trust me, your listeners can tell the difference.
But here’s the real magic of improv classes – they push you out of your comfort zone. You know what else gets you out of your comfort zone? Being audited by the IRS or CRA. At least with improv, you’re only pretending to be broke.
Jokes aside, as financial advisors, we’re used to having all the answers. Improv classes force you to embrace uncertainty. Improv teaches you to say “yes, and…” instead of “no, but…”. This mindset shift is transformative in my opinion.
My first improv class felt a bit scary, man! BUT by the end of it, I was laughing. It was liberating!
Improv classes helped me become more relaxed during Discovery Series Unplugged podcasts. They helped me create more dynamic conversations. Improv taught me to trust myself and my instincts. It helped me find my unique voice as a financial podcast host. Improv classes can also enhance the delivery of financial education through the podcast.
8. Learn to be Vulnerable as a Podcast Host.
As financial advisors, we’re trained to be professional, composed, and objective. But here’s what I’ve learned while hosting the Discovery Series Unplugged: in podcasting, vulnerability is your superpower.
I’ve seen many financial advisors make a mistake and turn their podcasts into a Wikipedia trip. All facts and figures. The content is solid, but something is missing. It feels… sterile.
Sharing personal stories is key in my opinion. They make podcasts so much more relatable. You’ll notice a big difference when the energy in the room shifts. Your guest opens up. The conversation becomes real, raw, and relatable. Sharing personal stories can also improve financial literacy among listeners by providing real-life examples of managing money and making financial decisions.
Sharing personal stories isn’t just okay. It’s essential! It humanizes you. Your vulnerabilities become your strengths.
But how do you build that rapport with guests? It starts before you hit the record. I always chat with my guests off-air first. We grab a coffee, share a laugh. I ask about their journey, their challenges. This pre-interview connection is invaluable. It creates a foundation of trust that carries into the recording.
During the interview, I listen actively. Really listen. I’m not just waiting for my turn to speak. I react genuinely to their stories. If something moves me, I say so. If I’m surprised, I show it. This authenticity encourages guests to dig deeper, to share more.
But here’s the million-dollar question: how do you balance professionalism and vulnerability? It’s a tightrope walk, no doubt about it. You don’t want to overshare or get too personal. But you also don’t want to come across as a robotic finance-bot.
So what’s my rule of thumb? Share experiences that are relevant and add value. For example, I once talked about my first memory of money which was painful. It was personal, sure, but it was also directly related to the topic at hand.
Remember, your listeners aren’t just looking for information. They’re looking for connection. By balancing professionalism with vulnerability, you create that connection. Share your story. Be real!
I’ll let you in on a little secret. The episodes where me or my podcast guests have been most vulnerable? They’re consistently our highest-rated. People remember them. They share them. They connect with them.
7. Learn from Others. Go to Finance Podcast Conferences.
Let’s talk about something financial advisors sometimes forget: we don’t know everything. Shocking, I know. But here’s the truth – when it comes to podcasting, there’s always more to learn. And the best way to learn? From others who’ve been in the podcasting game for a while.
Before starting the Discovery Series Unplugged Podcast, I listened to everything I could get my hands on. Financial podcasts, sure, but also shows about health, comedy, even Joe Rogan. Why? Because great ideas can come from unexpected places. Crime shows anyone? Now we’re going to have financial advisors stealing jokes from true crime shows. “Can we collect some DNA with that life insurance application?”
But don’t just passively listen. Pay attention to what works and what doesn’t. How do they open their podcasts? How do they transition between segments? What keeps you coming back for more? Trust me, you’ll start noticing little tricks that you can adapt for your own podcast.
But don’t stop at listening podcasts. Attend podcast conferences. I know, I know. Podcast conferences, the place where people who talk for a living go to listen to other people talk about talking. But hear me out!
You’ll meet folks who’ve been podcasting since before it was cool (yes, there was such a time). You’ll learn about the latest tech, marketing strategies, and content trends. But more importantly, you’ll find your community. People who get what you’re trying to do, who face the same challenges, and who can offer invaluable advice.
After each podcast you listen to or podcast conference you attend, ask yourself: “What’s one thing you can implement in your next episode?” The key is to constantly evolve and refine your podcast.
Remember, no two financial podcasts are the same. What works for one show might not work for yours. It’s about finding inspiration and adapting it to fit your unique voice and audience.
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6. Get 150 Followers as Fast as You Can.
Let’s talk numbers. I know you love ’em numbers! Well, here’s a crucial one for podcasting: 150 followers. That’s your initial target. Why? In my experience, it’s the tipping point. Once you hit 150 dedicated listeners, your podcast should start to gain momentum.
You really need that core group of engaged listeners. These are the people who’ll share your podcast and provide feedback. They’re your podcast’s cheerleaders.
So, how do you get there? First, leverage your existing network. As financial advisors, we’re fortunate to have a built-in audience. Reach out to colleagues, clients, and industry contacts. Don’t be shy about asking them to listen and share.
Social media is your friend here. I know, I know. Many of us in the financial industry are wary of social media. But it’s a powerful tool for podcast growth!
We share snippets of Discovery Series Unplugged episodes, thanks to our Digital Strategist Amar Ayoub. We post behind-the-scenes content on LinkedIn. We engage with our audience in the comments. It humanizes our brand and builds anticipation for our next episodes.
Live events to get podcast followers. Sure, you can try that too! Imagine Advisors doing a rap battle about Life Insurance: “Hip hop Hoooray!” Oh yeah, that’s definitely going to attract the Millennials, just ask my Co-Host of DSU David Lee.
Now, here’s where it gets tricky. Building an audience within a large company like Desjardins comes with its own set of challenges. There’s red tape. Compliance issues. Brand guidelines. Sometimes it feels like I’m trying to run a marathon with my shoelaces tied together.
If you’re in a similar position, don’t let that discourage you. Instead, use it to your advantage. Leverage your company’s existing channels. Collaborate with other departments. Position your financial podcast as a valuable resource for the entire organization.
Remember, building an audience takes time. It’s not about overnight success. It’s about consistent effort and genuine engagement. Keep creating valuable content. Keep connecting with your listeners. Keep pushing forward.
And here’s a tip: don’t pay for advertising, at least not initially. Organic growth might be slower, but it’s more sustainable. Your goal is to build a community organically, not just inflate numbers.
5. Record Financial Podcasts In-Person.
Not gonna lie, it’s tempting to do everything remotely. But when it comes to podcasting, I’ve found that there’s real magic in face-to-face interactions. Trust me, the energy you get from in-person recording is unmatched. I mean nothing says “high energy” like two financial advisors sitting in a room talking about whole life insurance. It’s like a rave, but with illustrations! Right!?
All kidding aside, there’s an electricity in the air when you’re sitting across from someone. You can read their body language, catch the subtle cues in their expressions. It adds a whole new dimension to the conversation. It’s like the difference between watching a concert on TV and being there live. Sure, you get the music either way, but the experience? It’s totally different! Discussing complex topics like corporate finance also benefits greatly from in-person interactions, as it allows for deeper engagement and understanding.
Also, the audio quality is often far superior. No wonky internet connections, no dogs barking in the background, no guests sounding like they’re talking through a tin can. Just crisp, clear audio that your podcast listeners will appreciate.
Managing in-person dynamics can be tricky. Eye contact is key. It helps maintain engagement and encourages your guest to elaborate on their thoughts. But don’t overdo it!
These days, we’ve got a dedicated space. It’s not fancy, but it’s comfortable. Comfy chairs, decent lighting, and a few plants to add some life. The key is to make your guest feel comfortable. Have water and snacks. A relaxed guest is a talkative guest!
Body language is another important factor. Lean in slightly to show interest. Nod to encourage your guest to continue. But be mindful of “uhs” and “huhs”. They work well in normal conversation but can be really distracting on audio.
One challenge I faced early on was talking over my guests. In person, it’s easy to get excited and want to jump in. Now, I use hand signals instead. A simple raised finger can indicate that I have a follow-up question without interrupting their flow. A raised eyebrow or a slight lean forward can encourage a guest to elaborate without you saying a word.
Yes, in-person recording requires more effort. You need to coordinate schedules, prepare a space, etc. But in my experience, it’s well worth it!
4. Be Authentic – Your Audience Can Pick up BS.
Authentic, authentic, authentic. It’s the new mantra for finance podcasts. Why does it matter? Simple. Your listeners can smell BS from a mile away. They’re not just tuning in for information – they can get that anywhere. They’re tuning in for YOU. YOUR perspective. YOUR personality. “Welcome to ‘Fiscal Nightmares,’ the only show that’s authentic enough to admit we have no idea what the market will do tomorrow.”
Developing an authentic podcast hosting style isn’t about finding a “persona”. It’s about showing your true self. For me, that meant embracing my passion for storytelling, my sometimes corny sense of humor, and yes, even my occasional stumbles. Providing practical advice is also a key aspect of being an authentic podcast host.
So, how do you develop an authentic hosting style? First off, ditch the script. Yes, you heard me right. Have talking points, sure, but leave room for spontaneity. Some of our best moments on the Discovery Series unplugged Podcast have come from unprepared remarks.
Next, embrace your quirks. Maybe you have a slightly goofy laugh. Maybe you get overly excited about the Raptors. Use sports analogies. Love cooking? Draw parallels between financial planning and creating a gourmet meal. Whatever it is, lean into it. Those little idiosyncrasies? That’s what makes you, well, you.
Also, DO NOT try to please everyone. You can’t! And frankly, you shouldn’t. Some listeners will love your style, others won’t. And that’s A-Okay. Focus on being genuine, and you’ll attract the right audience. Keep it real like the OG of DS, Douglas Chiu!
Another trap is over-preparation. Yes, you need to be prepared, but don’t script every word. Leave room for improv. Some of our best moments on the Discovery Series Podcast have come from unscripted exchanges… thanks David Lee!
Remember, authenticity isn’t about being perfect. It’s about being real. Share your successes, but also your failures. Talk about the lessons you’ve learned. Be willing to laugh at yourself. Your vulnerabilities are often your greatest strengths.
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3. Guest Research and Preparation is Key.
Alright, folks, let’s talk about something that separates the amateurs from the pros: guest research and preparation. Thorough research is non-negotiable. It’s the foundation of a great financial podcast, in my opinion.
I read their articles and social media posts. It allows me to ask questions that go beyond the surface level. It shows respect for your podcast guest’s time and expertise. And trust me, your listeners will notice the difference. “So, Mr. Financial Guru, I hear you’re a size 10 and partial to mauve. Let’s talk interest rates!”
But here’s the thing: research is just the start. I always have a simple conversation with the guests prior to hitting record. It’s not an interrogation, just a friendly way to figure out what makes them tick, what they love talking about, and any no-go zones. It’s all about making them feel comfortable.
Reh Bhanji - "Sliding into DMs!"
I also give them a rough idea of where we’re headed in the episode. Not a script – we’re not robots here – just a general roadmap. I always leave room for those “aha!” moments.
Now, let’s talk about the p-word: perfection. Spoiler alert number two: it doesn’t exist in podcasting. And you know what? That’s totally fine.
The imperfections are what make it authentic. Don’t get me wrong – we should always aim for quality. But don’t let the fear of messing up hold you back. Flub a word? Laugh it off. Need to double-check a fact? Go for it. Conversation takes an unexpected detour? Buckle up and enjoy the ride.
Remember, we’re not making a TV special here. We’re having real talks about finance and life. Because in podcasting, just like in finance, it’s not about being flawless. It’s about being real, dropping knowledge, and connecting with people.
2. Make Your Financial Podcast Entertaining, Educational, and Emotional.
Entertaining, educational, emotional – the three E’s of financial podcasting! I have found the best edge-of-seat entertainers are advisors. So let’s leverage their voice!
BUT, here’s the secret sauce! It’s all about balance.
If your podcast is all about the numbers. You rattle off statistics and jargon like there is no tomorrow. Guess what? Your listeners will be snoring by minute three. You need to spice things up with a bit of masala!
So, how do you do it? First off, don’t be afraid to have a little fun. Yes, we’re talking about serious financial stuff, but that doesn’t mean we can’t throw in a joke or two. Personal finance anecdotes are gold.
Oh, and here’s a pro tip: cliffhangers. Yes, like in those TV shows you can’t stop binging. Tease what’s coming in the next episode and reference previous episodes. Give them a reason to come back.
Remember, at the end of the day, we’re storytellers. Yes, we’re telling stories about finance and insurance, but they’re still stories. They have characters (your clients, industry leaders, even yourself), conflicts (family tragedy, personal health issues, anyone?), and resolutions (financial freedom, life lessons). This brings me to my last and the most important finance podcasting tip.
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1. Learn to be a Storyteller
Here’s the deal: humans are hardwired for stories. It’s how we’ve passed down knowledge since we were painting on cave walls. And guess what? It works just as well for explaining Disability Insurance as it does for epic battles.
Learning to tell stories isn’t just nice-to-have, it’s a must-have.
So, what makes a good story? It’s not rocket science, but it does take practice. You need a setting (the economic landscape, perhaps?), characters (your clients, industry leaders, maybe even the market itself), and motivation (the why behind financial and business decisions).
Don’t forget conflict. In finance, we’ve got plenty of that! Market crashes, regulatory changes, personal financial health struggles. These create tension, and tension keeps people listening.
And of course, you need resolution. The satisfaction of a well-executed financial plan, the triumph of weathering a market storm, the peace of mind that comes with improving financial health and security.
Now, how do you apply this to your financial podcast? Start with your intro. Instead of diving straight into the topic, set the scene. For example: “Imagine it’s 2 am, and your phone rings. It’s the hospital. Your partner’s been in an accident…” Boom. Instantly, listeners are engaged, because they can see themselves in that scenario.
And here’s a pro tip: don’t just tell success stories. Some of our most popular episodes have been about financial failures and how to recover from them. People love a good comeback story.
Remember, you don’t need to be Shakespeare. You just need to be authentic. Share real stories about real people facing real financial challenges. That’s what resonates!
There are 2 more secrets to create a successful story but I can’t give all my secrets away?
Bonus Tip: surround yourself with a diverse dedicated team that wants the same impact as you! Special shouts to our global nurturer Amar Ayoub, OG of DS – Douglas Chui, Cat Tam who makes Data Sing and of course the master navigator that keeps me out of trouble, co-host of Discovery Series Unplugged podcast David Lee.
Conclusion
Well, there you go folks – my top 10 lessons from hosting Discovery Series podcast. Your journey as a financial podcast host is unique. You’ll face challenges, make mistakes, and have moments of doubt. But trust me, it’s all part of the process. Embrace the learning curve, stay true to yourself, and keep pushing forward.
Whether you’re explaining complex financial concepts or sharing personal finance anecdotes, always keep your audience in mind. They’re not just looking for information in a financial podcast – they’re looking for connection, insight, and maybe even a bit of entertainment.
In conclusion, just remember: be authentic, tell stories, and for God’s sake, try not to put your podcast audience to sleep. Although, come to think of it, unconscious listeners can’t unsubscribe!
FAQs
How much does it cost to start a financial podcast?
Starting a financial podcast can cost anywhere from $100 to $1000+. Basic setup includes a mic ($50-$200), headphones ($30-$100), and editing software (free-$50/mo). As you grow, invest in better equipment, hosting (free-$50/mo), and potentially professional editing. Costs vary based on your goals and budget.
How long should each episode of my financial podcast be?
The ideal length for a financial podcast varies, but 30-60 minutes is common. Consider your content depth and audience. Shorter episodes (5-10 minutes) work well for quick financial tips. Longer formats (30-60 minutes) suit in-depth discussions on investing, real estate investing, or interviews with industry experts.
How often should I release new episodes of my financial podcast?
For financial podcasts, consistency is key. Weekly or bi-weekly episodes help build a loyal audience. Consider your capacity to produce quality content on topics like personal finance, investing, and money management. Some successful finance podcasts release daily short episodes, while others do monthly shows.
How can I measure the success of my financial podcast?
You can measure the success of your financial podcast by tracking key metrics like number of downloads, listener engagement (comments, social media interaction), subscriber growth, and potentially revenue if you’re monetizing.
Disclaimer: The following information is being presented on the understanding that it is intended for information purposes only. None of the presenters or Desjardins Insurance has been engaged for the purpose of providing legal, taxation, or other professional advice. No one should act upon the examples/information without a thorough examination of the legal/tax situation with the appropriate professional advisors.
About the Author
Reh Bhanji (Certified Financial Planner, Chartered Life Underwriter), a veteran in the insurance and financial advisory industry, boasts over 25 years of experience. His journey began in 1998 at Imperial Life Financial in Toronto, ON, where he managed over $40 Million in annuity assets. His prowess quickly earned him a promotion to Team Leader in 2002, where he led a team of financial advisors. In 2005, Reh’s expertise propelled him to the role of Regional Sales Director at Desjardins Financial Security. In this role, he was responsible for training financial advisors and driving life and health insurance sales through strategic marketing and business development. His commitment to financial advisor education was further exemplified between 2007 and 2009, serving as Vice President for Education at Advocis Toronto (The Financial Advisors Association of Canada). In 2012, he became Senior Regional Sales Director at Desjardins Financial Security. At Desjardins, he managed the company’s largest account and developed key sales strategies and business building techniques for life and health insurance solutions. His exceptional leadership skills led to his 2020 promotion to National Best Practice Leader at Desjardins Financial Security, where he spearheaded the coaching and development of sales processes across the national network. In 2021, Reh expanded his influence as the host of the award-winning Discovery Series Podcast by Desjardins, providing a platform for industry-leading financial advisors to share their strategies, success stories, and industry leading insights.
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