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Articles Written by Jon Henschen

The Trouble With Being a Big Advisor at a Small BD

18:26 23 March in Articles Written by Jon Henschen by rafferty

March 19, 2021 By Jon Henschen, ThinkAdvisor What You Need to Know Several factors limit smaller firms’ ability to compete in today's broker-dealer marketplace. Besides struggling to add advisors, smaller BDs find their advisors retiring at an increasing rate or going fee-only. Their profit centers are on the decline, and they lack the ability to be rainmakers on services that drive growth. Advisors with large books of business sometimes consider joining a smaller broker-dealer to ensure that they rank in the top 10 or 20 in production (or yearly fees and commissions). Getting the extra attention, service level and admiration from BD staff, management and peers certainly has its attractions. But the ground is shifting under these advisors — with many unaware of the dynamics affecting smaller broker-dealers as well as some midsized firms. Recently,...

4 Ways to Give Clients a ‘Wow’ Experience

19:05 26 February in Articles Written by Jon Henschen by rafferty

February 24, 2021 By Jon Henschen, ThinkAdvisor There’s a lot for advisors to learn by reading “The Book of Wow,” which is based on the Art of Wow program created by Knowledge Labs — the value-added platform of Janus Henderson developed in partnership with Joseph Michelli, a client experience expert and best-selling author. The book is based on a survey of a wide variety of advisors, who share client experiences that go beyond their expectations — resulting in a “Wow.” According to the book, Wow experiences are unanticipated, surpass professional advice and involve actions that resonate on a personal basis with clients; they’re also often unique to each client. These experiences can be personal or tied to relationships between parties that go deeper and are more meaningful than what is normally experienced. Words are cheap, and actions speak...

SPACs: Not So SPACtacular

17:14 04 February in Articles Written by Jon Henschen by rafferty

February 3, 2021 By Jon Henschen, WealthManagement.com Blank check companies are a great deal—for their sponsors. For investors? The results so far have been abysmal, argues Jon Henschen.   Special Purpose Acquisition Companies, or SPACs, have been on a hockey stick growth chart since 2016. This alternative method of going public versus the traditional IPO process has been getting the attention of RIAs and broker/dealers such as Cetera’s Adam Antoniades, who has said SPACs may be a viable consideration for that firm going public. Longstanding IBD executives are also now directly involved with SPACs. That includes Larry Roth, who has held the CEO spot at both Cetera and Advisor Group, now raising capital for Britain-based Kingswood Holdings, whose blank check company Kingswood Acquisition Corp. recently went public with the intention of using raised capital to firms in the...