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What Drives High Turnover

Sidebar to "Evaluating Broker-Dealer Service"

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October 25, 2010 • Reprints

• Unreasonable management
• Low pay or poor benefits (the highest retention firms pay in the upper 25% for their industry or region)
• Firms with numerous advisors who have difficult personalities (We like to call this type of rep a “staff eater” because they wear down and sometimes verbally abuse back office people. To weed out this type of rep, some firms apply criteria that they have to like the person they bring on.)
• Excessive hours (some firms take advantage of salaried employees by requiring excessive hours on a regular basis)

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About the Author
Jonathan Henschen, CFS, Henschen & Assoc.

Jonathan Henschen, CFS, Henschen & Assoc.

Jonathan Henschen, CFS, is President of Henschen & Associates. Jon's firm helps advisors find broker-dealer relationships that best fit their business profiles, while helping them uncover unique, progressive and previously unknown opportunities. Henschen & Associates contracts with more than 70 independent broker-dealers and 15 producer groups. Henschen is also a regular contributor to Investment News, On Wall Street, Investment Advisor, Broker/Dealer, Broker World, Producers Web, Bloomberg News, WealthManagement.com and AdvisorOne.com.

Visit Jon's website, http://www.findabrokerdealer.com or contact him at (888) 820-8107, (651) 433-3501, or e-mail at jon@henschenassoc.com

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