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Articles Written by Jon Henschen

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The Subtle ‘Tyranny’ of Regulatory Overlords

19:23 15 January in Articles Written by Jon Henschen by rafferty

January 12, 2018 By Jon Henschen, Intellectual Takeout Who really benefits from the 14,000 pages of Dodd-Frank? If you’re a business owner, you quickly learn the pains of regulation and how it impacts your ability to survive and thrive. Author and theologian C.S. Lewis framed the topic best when he said, “Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.” This description aptly describes the actions of governmental bureaucrats who make up...

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The Herd vs. the Country Club: Which Mentality Is Right for You?

16:12 15 December in Articles Written by Jon Henschen by rafferty

December 15, 2017 By Jon Henschen as published on ThinkAdvisor The need to follow the crowd and the desire for exclusivity are both powerful motivators you can use to your advantage Since September 2017, we’ve experienced a substantial outflow of advisors from the Jackson National broker-dealers that were sold to LPL Financial via the National Planning Holdings acquisition. Industry publications announced regular movement to broker dealers, touting the group’s assets and discussing why they moved to whatever firm they had ultimately chosen. The herd mentality has been in full swing, as BDs and the press drew attention to which firms were the most successful in attracting advisors. In a perceptive move, even LPL joined in by publicizing the names of large groups that decided to go along with the sale and proceed with their...

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What Boomers’ Retirement Means for the Advisor Industry

16:51 21 July in Articles Written by Jon Henschen by rafferty

July 18, 2017 By Jon Henschen, published on WealthManagement.com   Our industry will be unable to keep up with the demand for new advisors to fill the vacancies left by boomers retiring. The number of financial advisors (RIAs) peaked in 2008 at 325,000. By 2014, that number dropped to 285,000 (Cerulli Associates). The number of FINRA registered representatives is currently at 633,822 (April 2017), which is down from 643,433 in 2015. This reflects only the beginning of boomer retirement trends. Public accounting firm Moss Adams has forecast a shortfall of 200,000 advisors by 2022, with boomer retirement continuing through 2030. This will only compound the shortfall of advisors. The average age of advisers today is over 50, and 41 percent of advisors are 55 or older according to Cerulli. The industry has responded with...