Advisor Today - November/December 2015 - (Page 16)

practice specialties MANAGING YOUR PRACTICE By Ayo Mseka In Step with a Winner I t has been 10 years since Marcus T. Henderson, Sr., won Advisor Today's Four Under Forty Award. Since that time, his practice, Henderson Financial Group, Inc., has grown substantially. When we caught up with him recently, he shared some valuable tips for moving ahead, and the reasons for his enduring success. Advisor Today: What attracted you to the financial-services business, and what has kept you engaged and involved over the years? Marcus Henderson: The thing that attracted me to this particular industry is the opportunity to serve families in times when they need help the most. What keeps me engaged now is seeing the aftermath of all the service given. It really is so simple-we either live too long, die too early or become disabled along the way. When one or more of these circumstances happen, my firm and I are there to fill the gap. It is such an awesome privilege and a prophetic calling. AT: What areas do you specialize in, and why did you choose those areas? Henderson: My firm and I specialize in Wealth Management because it allows us to touch all areas of the client's financial house. Whether it's investment planning, insurance planning, estate planning, or tax analysis, we have a specialist on board to give expert advice and guidance. This approach allows the client to feel completely at ease, knowing that all areas are being reviewed and properly addressed. AT: Ten years ago, you received Advisor Today's Four Under Forty Award. How has your practice changed since then? Henderson: Ten years ago, I was more or less a one-man shop. Since that time, our industry, world and firm have changed quite a bit. I was able to successfully evolve from "Me to We," which made a significant impact in our clients' lives and the capabilities of Henderson Financial Group, Inc. AT: You manage a highly successful practice. What are some of the secrets to your continued success? Henderson: I surround myself with the very best talent available. Over the years, I observe the industry morphing into something that only advisors with multi-disciplines and outstanding administrative support could navigate. None of us are islands and no single advisor can have all the answers to the complexities of a client's world. Collaboration is best for all involved. Building a top-notch team was a game-changer for our clients as well as for me. AT: Throughout your career, what has been your biggest professional challenge, and how did you overcome it? Henderson: My biggest professional challenge has been the onset of new regulations and the compliance that continues to change. There is so much to remember and know, yet all necessary to protect our valued clients from those who may not have their best interests in mind. I deal with it on a day-to-day basis and try to implement systems that protect us from harm. My firm's COO, Todd A. Turner, CFP, takes the lead in this complicated area. AT: What advice would you give to advisors new to the business and to those who have some experience but can't seem to make it to the next level of success? Henderson: The advice I would give to a new advisor is something all have heard before: "Get a mentor." But there is a catch- you cannot just go out and find one; they must find you. Do all the things that a good young advisor should be doing and you will attract the right mentor. Even when you think others are not watching, they are. Now, for the more senior advisors, pay attention to what would happen to all your beloved relationships and clients should you become disabled, retire or die prematurely. All the promises you made must be kept. Succession planning is not optional; otherwise, you are not practicing what we are preaching. To get to the next level, a "team of excellence" is absolutely vital. AT: What skills and attributes would you encourage all producers to develop? Henderson: The most valued skill for a Top of the Table producer is exceptional relationship building. The old adage is true: Work harder on yourself than you do on your job. Make your life work interesting and draw clients to you. It's all about having the fish chase the boat. Study psychology and the human condition, and take the time to care about people more than most believe you should. This unique quality will put you head and shoulders above the pack. AT: What is the best piece of business advice you have ever received? cont'd on page 18 16 ADVISOR TODAY | November/December 2015

Table of Contents for the Digital Edition of Advisor Today - November/December 2015

From the Editor
New Products
In Step with a Winner
Finding Success in the Chinese-American Market
Dealing with Client Confidentiality
Hashtag Your Way to Social Media Relevance
Starting the LTCI Conversation
From Term to Perm
Protecting the Downside with Allocation Adjustment
Jules Gaudreau: A NAIFA Success Story
Helping Clients Cope with Market Volatility
NAIFA Government Relations
Working with Single Women
Financial Planning FAQs of Small-Business Owners
Three Retirement Conversations to Have with Clients Today
The Advent of Robo-Advisors
Moving into the Retirement Space with 401(k) and 403(b) Plans
Moving the Sales Process Forward
Cultivating the African American Market
The Lighter Side of LIfe
Advertiser Index
Back Page

Advisor Today - November/December 2015