Helping financial planners help others
Dominique has had a long career in finance, from working for a hedge fund to working for a small broker dealer. He didn’t know what he was getting himself into when he began, nor what the career path looked like. He just knew that he liked to help people, and he had a gift for breaking complex ideas into more easily digestible terms.
“I always say financial planning simplified is, ‘how do I take limited time and money as resources and spread them across unlimited choices’?” said Dominique. That analogy can be useful for any planner, new or veteran.
Dominique doesn’t limit his desire to help others to the clients of his firm, DJH Capital Management. This year he founded the Jumpstart Coaching Lab, which aims to help the next generation of financial professionals. That includes fresh-faced professionals out of school, yes, but also people changing careers. In fact, “career changers” are Dominique’s primary audience.
Career changers face unique challenges that new grads may not. For one thing, they may be coming from their first career where they were in a higher position — with higher pay. Starting a new career means a drop in salary and a change in power. Who do you turn to for advice? How do you navigate a career change in a profession like financial planning?
That’s what Jumpstart is there for. It provides new planners a central repository, as Dominique calls it, a wealth of information that tells new planners what to expect. Dominique knew he wanted to leave a mark on the industry by helping the next generation of planners.
Career paths and soft skills
How do career changers dive into the profession? It depends on what they want to do, said Dominique. One may start an apprenticeship, another may work at an independent IRA, while another may join Fidelity or Schwab. Your needs and your personality type have a huge influence on the career path you make for yourself.
No matter which career path you choose, experience is what will make you a master of the craft. Dominique explained that programs and education may have changed since his time, but there’s nothing like experience to learn the profession.
“I think there's a lot of different ways to get this technical knowledge, but I'm going to defer to the experience, because I'm old school,” said Dominique. “Being able to look into the camera and try to have direct eye contact, and maybe being able to read body language from the client as they shift positions. All these...sound super nuanced, but they're really valuable and helpful, especially if you're running an online business.”
Experience will teach you these soft skills that are essential in the profession. When we start to talk about other skills, like marketing yourself, where can new planners go for information? Jumpstart, of course, is one resource. Investing in a marketing sales course can help, too. Look at what others in the profession are doing to market themselves also.
The power of video
Dominique realized he was able to reach so many people through his YouTube videos on financial planning and financial topics. Not only could he educate others about finances and the profession, he could sell himself, too.
A recent prospective client told Dominique during the last part of the meeting that he had him sold. When he visited his website and watched his videos, he was able to see what he felt was the type of person he wanted to work with.
“That just speaks volumes,” said Dominique. “Because if a picture's worth a thousand words, then imagine what a video is worth.”
It wasn’t always so easy to make this kind of content, Dominique mentioned starting out with PowerPoint and transitioning into videos that were “absolutely horrendous, horrible.” But after working with a PR coach and figuring out what to talk about, he found his groove.
Dominique’s channel has grown to over 5,000 subscribers — and it’s given his practice a boost as well. It goes to show that content on social media can show prospective clients a face behind the name. That’s what the profession needs.
“If we can humanize this profession in a way that allows people to feel like they've got a relationship and some accountability towards moving to some of these important goals that they have....I think that's how we win in this profession,” said Dominique. “That's how everybody wins.”
What You’ll Learn:
- How Dominique’s career in finance began
- What drives financial planners
- Career changers vs. new grads
- Why Dominique founded Jumpstart
- The importance of soft skills
- Examples of career paths
- Experience is the best teacher
- Challenges Dominique faced in his own career
- Using social media for marketing
- Reaching new clients through online content
In this episode of YAFPNW, Hannah and Dominique discuss: