Author: rafferty

Relationship Building For Broker Dealer Recruiting

by Jonathan Henschen, CFS and featured in Broker/Dealer Journal
August, 2007:

In 1989, one of those “penny” stocks so common at the time sponsored my Series 7 license.  After passing the exam, I spent three days listening in as experienced brokers made cold prospecting calls.  At each advisor’s side was a copy of Jim Pickens’ and Ben Gay III’s, The Closer, now in its fifth edition (LJR Group/Hampton Books, 1980). For those unfamiliar with The Closer, it’s the classic, how-to sales text that promotes the same techniques demonstrated in “Boiler Room,” an intense film released in 2000 starring Giovanni Ribisi, Vin Diesel and Nia Long.

“Boiler Room” is well-named, pulsing with the vigor of rich young people wreaking the deliberate mayhem that comes from greed run amok.

B/Ds in the Year 2010-What Does the Future Hold in Store for Independent b/d’s?

by Jonathan Henschen, CFS and featured in Investment Advisor
July, 2007:

IN DUSTING OFF our crystal ball, we thought of taking a prophetic approach to what lies ahead for our industry, attempting to answer such vexing questions as:

• Will equity indexed annuities by declared securities?
• Will advisors have any say as to their quilt or innocence when clients pursue arbitration?
• Will Merrill Lynch buy LPL, thereby confirming something advisors already believe, namely, the LPL is the Merrill Lynch of the independent channel?

Instead, we decided to focus on a few key trends that have cropped up over the past couple of years that we think will not only continue, but are likely to accelerate through 2010.

Technology

There has been a growing sameness in the technology broker/dealer firms are offering.