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Articles Written by Jon Henschen

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5 Signs You Need to Switch Broker-Dealers

15:47 29 April in Articles Written by Jon Henschen by rafferty

April 26, 2019 By Jon Henschen, ThinkAdvisor To avoid changing broker-dealers, advisors will tolerate a great deal of aggravation and frustration. It’s easy to understand why. Changing broker-dealers is not a simple endeavor, and there’s no sugar coating the fact that it’s a disruptive process. However, avoiding a broker-dealer switch that can offer your business clear advantages hinders your ability to reach your full potential. Still, many advisors procrastinate, deciding to stay with a broker-dealer that does not meet their needs. Here are five areas where advisors suffer frustration and restrictions with broker-dealers that keep them from soaring to greater heights: 1. Poor Service There are two trends in the area of service-quality decline that affect both smaller broker-dealers and larger broker-dealers with back-office consolidation. First, over the past few years, smaller broker-dealers have spent about 30%...

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Don’t Sell Your Business: Try Semi-Retirement

16:27 11 April in Articles Written by Jon Henschen by rafferty

April 8, 2019 By Jon Henschen, ThinkAdvisor Advisors who trim their book of business can avoid the downsides of full retirement — which can take a toll on spouses — and continue to enjoy purpose and productivity. As the Japanese population ages, there’s a growing trend among married men who have worked long hours during their adult lives to fully retire at age 65. In earlier generations, these retirees tended to live with their children. Today, though, this is no longer the case. The husbands’ retirement can be such a difficult transition that their wives often suffer debilitating physical symptoms. The Japanese have adopted the label “Retired Husband Syndrome” for this condition. Dr. Nobuo Kurokawa and other medical researchers have pointed out that Retired Husband Syndrome can cause health problems for wives that include stomach...

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Want to Connect Better? Try Dan Arnold’s Technique

17:40 25 February in Articles Written by Jon Henschen by rafferty

February 22, 2019 By Jon Henschen, ThinkAdvisor  For deeper, longer relationships with clients and colleagues, advisors should take a cue from the head of LPL Financial.   Since 2001, I’ve made over 60 due diligence trips to independent broker-dealers. What stands out are the firms that have the ability to connect, not merely point out their list of strengths. One particular broker-dealer president shared the humble beginnings of his firm. When he and a group of his colleagues felt that their broker-dealers weren’t addressing their needs, they formed their own. They intended to form a broker-dealer “by advisors for advisors,” anticipating that other advisors who shared their concerns would want to be part of that kind of environment. During our discussion, this individual showed vulnerability and transparency as he explained that “early on, we didn’t really know...