Author: rafferty

Jon Henschen: The 2012 IA 25 Extended Profile

23:22 16 May in In the News by rafferty

May 7, 2012 by Danielle Andrus, AdvisorOne Jon Henschen, president of Henschen & Associates, a broker-dealer recruiting firm, likens the torrent of regulatory changes the industry has seen recently to “having a cut on your finger, and they’re cutting your arm off to repair it.” Henschen has more than 20 years in the industry, and his insights into the independent broker-dealer channel have been published by no less an authority than Bloomberg, The Wall Street Journal and (full disclosure) Investment Advisor. While the Dodd-Frank Act’s effect was largely felt by wirehouses and big banks, the independent channel hasn’t escaped increased bureaucracy that, Henschen says, is “grinding down the business.” For example, “the ‘know your customer’ rule allows broker-dealers to take a risk-based approach to implementing new suitability factors, but it’s doubtful that broker-dealers and regulators will see...

Could Allianz Chief Buy Old Firm?

16:07 23 April in In the News by rafferty

by Jim Hammerand and featured in Minneapolis/St. Paul Business Journal April 20, 2012 It could be a coincidence that Walter White has become CEO of Allianz Life Insurance Co. of North America while Woodbury Financial Services Inc., the securities broker/dealer he helped build, looks for a new owner. Or it could be fate. Industry observers see Golden Valley-based Allianz as a likely buyer of Woodbury Financial. However, in his first interview as Allianz’s chief executive, White carefully considered his words when asked whether his firm should — or would — acquire the Twin Cities’ third-largest broker/dealer by revenue. “I obviously have an affinity for Woodbury. It’s a quality firm. I have no doubt they will find a buyer,” he said. He also discussed his time at Woodbury Financial, the challenges now before him, and the future of...

Call In… The Specialists

19:57 20 April in In the News by rafferty

April 2, 2012 by Jerry Gleeson, Registered Rep Niches are beautiful As markets change and the financial advisory industry demands new services, advisor teams that have the right skills and are paying attention can position themselves as the next go-to practice. “There's this push for specialization in different areas of your practice,” says Ryan Svatora, whose UBS practice catering to gay clients has seen growth as the gay marriage debate has intensified in recent years. (See profile, page 36.) “More and more firms are beginning to roll out niche marketing services, not only to the LGBT community but to other niche markets as well.” Historically, advisory teams looked for FAs whose skill sets complemented gaps in their own — for example, seeking to add a financial planner or someone who knows his way around...