Advisor Today - November/December 2015 - (Page 16)
MANAGING YOUR PRACTICE
By Ayo Mseka
In Step with a Winner
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
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
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
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
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
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
NAIFA Takes NOLA
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
Advisor Today - November/December 2015