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Author: rafferty

Transfer Time – When Decoding B/D Transfer Options, Don’t Focus on The Money

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

by Jonathan Henschen, CFS and featured on Henschen Associates
May, 2008:

For advisors pondering a move from a wirehouse to an independent broker/dealer with visions of large, forgivable transition loans dancing in their heads, it’s time for a reality check.

That’s because, as an esteemed economist famously said, there’s no such thing as a free lunch! With reps at independent B/D reps earning 90% payouts, independent firms have much smaller margins to work with than do their wirehouse counterparts.

Times have certainly changed when it comes to a broker’s transfer options. It was once common for reps joining a firm to be responsible for covering all their own expenses, including registration costs, business cards, stationery and ACAT transfer fees. While some firms still take that approach,

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The Lasting Impact of Effective Broker/Dealer Stories

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal
April, 2008:

Effective broker/dealer recruiting stories provide structure, direction, inspiration and motivation. When properly done they’re remembered because they connect with advisors at an emotional level.

Broker/dealer stories are intended to connect favorably with advisors on the move. But so many of these stories fall short by sounding like mission statements followed by a string of tired details most advisors have heard many, many times before:

  • We have top-notch service!
  • Our technology is the very best!
  • We’ll help you get to the next level!
Yawn!

Too many otherwise successful broker/dealers have one-dimensional recruiting stories like that. Instead, they should develop effective, multi-dimensional stories describing why they’ve done so well,

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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,

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