Authenticity leads to genuine connections

Leveraging social media effectively in the financial industry is about more than just posting regularly; it’s about authenticity and connection. For Josh Bannerman, founder of Bannerman Wealth, the key to successful engagement, whether through social media, podcasts, or other platforms, lies in being true to oneself.

“The biggest thing is really around being authentic to who you are,” he says. “Clients want to engage with people who are experiencing the same thing that they’re experiencing.”

Bannerman’s approach, however, isn’t about projecting a polished, overly curated persona; rather, it’s about showing up as you are. He reflects on a story in which a listener noted how Bannerman’s advice remained consistent over the years, even down to the tone and energy of his delivery.

“That’s just how I feel about the thing. I don’t have to be a different person online. When you try to be somebody else, then you have to try to remember, ‘What’s my character?’”

And when it comes to creating content, Bannerman and his team have developed a robust system for their podcast, which has been running for 14 years. They produce three shows a week, often organizing content around broad themes.

“Our show production schedule is eight weeks on and then one week off. During that eight-week period, we will try to wrap it around some sort of theme, broad-based.” This method ensures that while the topics might range widely, they maintain a consistent narrative that ties back to financial planning. After all, it’s not just about money, but the lessons adjacent to it – which Bannerman believes add value to the listener’s experience.

Events are another powerful tool in Bannerman’s client engagement strategy. He views them as an extension of the personal brand he’s cultivated online. Whether it’s a small dinner or a sporting event, Bannerman tailors these experiences to his and his clients’ interests, ensuring that the events are enjoyable and natural.

“I’d much rather have a smaller event and say, let’s have a dinner thing… who do you want to bring? I’ll just listen,” he explains.

In terms of attracting high-net-worth clients, Bannerman’s strategy revolves around understanding and addressing the specific concerns of each client. He notes the importance of being responsive and attentive to what clients are asking for, rather than just delivering a generic pitch. Bannerman recalls advice from industry veteran Joe Duran, who criticized advisors for being too focused on their own processes instead of addressing client needs. Bannerman has taken this to heart, ensuring that in every meeting, the client’s immediate concerns take precedence.

“Whatever is most important to you, that’s what we need to talk about today, because that’s the most important thing to you,” he says.

The referral process is another area where Bannerman emphasizes simplicity and directness. Despite the common belief that referrals are the primary source of new clients, Bannerman points out that the data doesn’t necessarily support this, largely because many advisors simply don’t ask for referrals.

Bannerman believes that asking for introductions or referrals should be a natural extension of delivering value to a client. If done without pressure, this approach can integrate into the advisor-client relationship.

And so, by aligning all aspects of his practice – social media presence, content creation, client events, and referral strategies – with authenticity and client-centricity, Bannerman has crafted a business model that feels organic and personal, yet highly effective. In a world where digital interactions often feel impersonal, Bannerman’s approach is a reminder that, even in finance, relationships are built on genuine connections.

“You will attract people who want to be around people like you, and you will repel people who don’t want to be around people like you.”