Articles Written by Jon Henschen

Woodbury-Advisor Group Deal: A Recruiter’s Perspective

August 3, 2012
by Jon Henschen and featured on AdvisorOne

As far as acquisition matches go, the purchase of Woodbury by AIG can turn out to be one of the better retention purchases by the insurance giant. To be sure, the AIG story will be carefully edited so it’s one that will entice as well as bringing a feeling of security.  Many positives exist with this acquisition but wrinkles are always lurking beneath the surface.

Woodbury will probably experience very good retention with their reps, primarily due to retention bonuses already paid, but also for the following:

• No paperwork in making the change
• More retention money probably coming
• RVP’s working hard to talk up the new owner (they are paid bonuses for the reps taking retention bonuses)
• AIG promising to plug in their technology which would be an improvement to what they have
• They are having a conference in two weeks where they’ll have a pep talk with Larry Roth and Benmouche speaking to the reps giving them a “You’ve gone to heaven” perspective to the purchase.

The Financial Advisor Balancing Act

March 2012
by Jonathan Henschen and featured in Investment Advisor

Will your life legacy read like a resume or a storybook rich in relationships?

American culture exalts accomplishment and makes it a focal point for self-worth. Our industry is no different. In our recruiting interviews, reps list off accomplishments in terms of advanced college degrees, professional designations and the all-important production level. While all these achievements are admirable (who doesn’t want to build a lucrative book?), is it the legacy you want to leave?

Building Personal Legacies

Many of us grew up in families where accomplishment held much higher value than relationships, and we struggled to find role models for strong interpersonal skills. My father was a partner in the accounting firm Price Waterhouse for 15 years and later vice president of Bethlehem Steel.

Finding the Right Safety Net

January 2012
by Jonathan Henschen and featured in Investment Advisor

When changing broker-dealer, transition time is typically brief—only one or two months. Yet often, Financial Advisors place the weight of the world on this early part of the relationship, the “honeymoon period.” They are enticed by what appears to be a sweet offer, and end up making a compromise that undoes their reasons for making the change in the first place. That compromise is usually in the form of upfront transition money.

Making the right choice when switching to a new broker-dealer is crucial in terms of retaining clients during the transition.