Articles Written by Jon Henschen

The Financial Advisor Balancing Act

16:51 02 March in Articles Written by Jon Henschen by rafferty

March 2012 by Jonathan Henschen and featured in Investment Advisor Will your life legacy read like a resume or a storybook rich in relationships? American culture exalts accomplishment and makes it a focal point for self-worth. Our industry is no different. In our recruiting interviews, reps list off accomplishments in terms of advanced college degrees, professional designations and the all-important production level. While all these achievements are admirable (who doesn’t want to build a lucrative book?), is it the legacy you want to leave? Building Personal Legacies Many of us grew up in families where accomplishment held much higher value than relationships, and we struggled to find role models for strong interpersonal skills. My father was a partner in the accounting firm Price Waterhouse for 15 years and later vice president of Bethlehem Steel. Success in...

Finding the Right Safety Net

17:36 06 January in Articles Written by Jon Henschen by rafferty

January 2012 by Jonathan Henschen and featured in Investment Advisor 2010 was the year of going nowhere. 2011 was much better. What does 2012 hold for broker-dealer recruiting? When changing broker-dealer, transition time is typically brief—only one or two months. Yet often, Financial Advisors place the weight of the world on this early part of the relationship, the "honeymoon period." They are enticed by what appears to be a sweet offer, and end up making a compromise that undoes their reasons for making the change in the first place. That compromise is usually in the form of upfront transition money. Upfront Transition Money Doesn't Always Pay Off Making the right choice when switching to a new broker-dealer is crucial in terms of retaining clients during the transition. We encourage our clients to set their...

10 Steps to Bulletproof Your Practice

18:49 05 December in Articles Written by Jon Henschen by rafferty

December 2011 by Jonathan Henschen and featured in  Investment Advisor If you find yourself in arbitration, following these steps can improve your chances of a decision in your favor As a recruiting firm, we deal with compliance issues so frequently that, put in college terms, I majored in recruiting and minored in compliance. The last two years have seen regulators tightening the thumbscrews on broker-dealers and, in turn, advisors. There is little room for error in our industry today—what once might have caused a change of broker-dealer can now put you out of business. Couple this more stringent compliance environment with securities attorneys increasingly expanding their profit centers into our industry and you’re left feeling a bit paranoid. If you ever find yourself needing to go to arbitration, realize only about 12% of advisors end...