Articles Written by Jon Henschen

Characteristics of Top Producers

00:00 01 January in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in ProducersWeb January, 2006: Success is a journey, not a destination. Top producers live that credo because it enables them to excel while enjoying what they do, feel motivated, energized and satisfied. After consulting with a wide variety of advisors, as I do, certain personal characteristics have inevitably emerged. And it’s typically those characteristics that differentiate top producers from the others. Now, the term top producer is relative, since advisors producing $200,000 in Wyoming can be every bit as successful as advisors producing $500,000 in San Francisco or New York City. So we’ll leave the quantitative definition of top producer open to your interpretation; instead, we’ll detail these eight qualitative personal characteristics of highly successful financial services professionals. Character and integrity Hardship and difficulty do not create character and...

Strength in Numbers

00:00 01 January in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in Investment Advisor January, 2006: In your search to find business approaches that can make your practice stand out, you may have found that real value is more elusive than ever as our industry becomes increasingly commoditized. There are exceptions to every rule, however, and while our recruiting firm places advisors with over 50 broker/dealers nationwide, some of the real jewels we contract with are a dozen or so producer groups. What are producer groups, you ask? Simply put, producer groups are likeminded advisors doing business through carefully selected independent broker/ dealers. Though producer groups grew out of several different models, the two most common types are: Office of Supervisory Jurisdiction ( OSJ) groups, in which the principals of several advisory firms band together under the premise they’ll have...

When Your Broker-Dealer Relationship Goes Bad

00:00 01 November in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in Broker World Magazine November, 2005: As part of a high school science experiment, a teacher dropped a frog into a pot of hot water. It jumped right out. Then the frog was put into a pot of room-temperature water on the stove and the teacher slowly turned up the heat. The frog swam around normally--until it suddenly died. Advisors are often like that frog, swimming around in ill-suited broker/dealer relationships until they reach a breaking point. This is especially true during acquisitions, where a new B/D takes over and makes lots of small operational changes. Because those changes are gradually phased in, the reps don’t notice them as much, whereas if the B/D had come in making wholesale changes all at once, the reps would have...