Ep 118: Passion Prospecting To Small Business Owners Through A Niche With Bass Fishermen with Jared Reynolds
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 2 April 2019
⏱️ 104 minutes
🧾️ Download transcript
Summary
Jared Reynolds is a partner at Wilkerson & Reynolds, an advisory firm that oversees nearly $160 million in assets under management. With a heavy focus on working with small business owners and their 401k plans, Jared has grown his business by serving a niche of bass fisherman, for whom he regularly organizes fishing and hunting trip expeditions as prospecting activities.
In this episode, Jared shares how he turned his passion into an effective business model, as well as his experience building his firm into the success it is today. Listen in to learn his strategy for networking and building relationships while having fun, what kind of marketing activities he’s found to develop the best prospects, and how any advisor can create a similar opportunity with his or her own hobbies and passions.
For show notes and more visit: https://www.kitces.com/118
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with |
| 0:07.2 | financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial |
| 0:13.0 | advisors navigated the inevitable challenges that arise on the path to success and get insight |
| 0:18.6 | from leading industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.3 | Welcome to the 118th episode of the Financial Advisor Success podcast. My guest on today's podcast is |
| 0:35.9 | Jared Reynolds. Jared is a partner in Wilkerson and Reynolds, |
| 0:39.3 | an advisory firm in Columbia, Missouri that oversees nearly 160 million in assets under management |
| 0:44.3 | with a heavy focus in working with small business owners in their 401K plans. |
| 0:49.1 | What's unique about Jared, though, is the way that he's grown his business with small |
| 0:52.8 | business owners by forming a |
| 0:54.6 | niche in working with bass fishermen, for whom he organizes fishing and hunting trip expeditions, |
| 1:00.5 | and gets an opportunity to spend hours or even days at a time in close proximity with small |
| 1:06.4 | business owners to form relationships and then eventually share a little bit more about what he does for his |
| 1:11.9 | clients. In this episode, we talk in depth about how Jared formed his niche with bass fishermen, |
| 1:18.1 | in what started out as a family connection through his father into the bass fishing community, |
| 1:22.8 | and then morphed into attending bass fishing trade shows and tournaments, and then developing an |
| 1:29.9 | expertise in working with bass fishing tournament winners on tax strategies for their prize |
| 1:35.5 | winnings and how to negotiate their endorsement deals and TV contracts, and ultimately evolved |
| 1:40.6 | beyond just working with competitive bass fishing professionals and into those who |
| 1:45.0 | engage in bass fishing as a luxury sport, many of whom are also very successful small business |
| 1:50.7 | owners. |
... |
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