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Articles / Resources

Reality and Your Pipeline to Prosperity

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal February, 2008: If you’ve been recruiting for even a short while, you’ve realized that the prospects in your pipeline are your lifeblood. You may believe by now that on your prospect pipeline hangs your every hope for the future. And by now, you may even harbor the common misconception that every prospect in your pipeline will eventually entrust his or her professional future with your firm. If That’s So, Dream On! As time goes by and the real world looms, you’ll know what you can do with all those dreams. Namely, divide them by two and then some. Only then will your grandiose expectations come within waving distance of reality. Sure, your share of pipeline prospects will come your way; but others will go elsewhere....

Steering Hooks

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal November, 2007: Over the years I’ve had the privilege of being the “fly on the wall,” hearing both the perspective of broker/dealers seeking qualified professionals and Advisors shopping for a suitable new firm. Not only do I deal with over 70 independent broker/dealers and their recruiters and management, I get to hear prospective Advisors’ uninhibited feedback on why they choose one broker/dealer over another. As a result, I’ve been able to put together this sampling of some of the many so-called “steering hooks” recruiters and management use to win over Advisors who’ve come knocking on their doors. Herd Dynamics. Broker/Dealer to Advisor Prospect: “We’ve brought over many Advisors from your current firm and they’ve worked out well, enjoying increased production and much greater professional...

Target Recruiting: Who Do You Want and Who Do They Want

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal November, 2007: During a recent conversation with a client of mine, a broker/dealer president, the issue of the firm’s recruiting market came up. On the one hand, the firm was frustrated by a lack of recruiting success. On the other hand, the client was generally comfortable with his firm’s recruiting market because they were top producers with little if any compliance issues. Specifically, the firm’s reps are institutional traders specializing in stock-and-bond trading for clients who are money managers, insurance companies and municipalities - a market for which there are decided pros and cons. I explained to my client that he’d been receiving so few recruiting leads from us because few reps target the “Institutional” market. As a result, I said, I could...

Find the Perfect Broker/Dealer Match

00:00 01 October in In the News by rafferty

by David Port and featured in Boomer Market Advisor October, 2007: The question greets visitors to the Henschen & Associates Web site in big, bold letters: “The grass can be greener, but over which hill?” It’s much more than a rhetorical question for advisors who are assessing the state of their broker/dealer relationships or contemplating the wisdom of seeking greener pastures with an entirely new firm. Given the transitional headaches that seem inevitably to accompany a change in broker/dealers, reps who have endured the process say the overall proposition offered by the broker/dealer to make a switch must be compelling. “It is a huge undertaking for a rep to change broker-dealers in today’s environment”,” says Cliff Oberlin, CEO of NRP Financial, an independent broker/dealer based in Bryan, Ohio. “I wouldn’t want to do this again,”...