Rising Stars of the Bank Channel
February 3, 2016 1:52 PM
Rising Stars of the Bank Channel
Bank Investment Consultant is highlighting the up-and-comers in the channel. We asked banks and broker-dealers to submit the bank advisors they considered their "rising stars." These advisors are all either under 30, or have been in the business less than five years (to account for career-changers).
The editorial staff here at Bank Investment Consultant then sifted through the nominations and made the final determination. Here are our final eight. Unlike our signature rankings such as the BIC Top 50 or the Top Program Managers, this list is purely qualitative and subjective, but these advisors have the characteristics that we feel point to ongoing success in the industry.
Click through to see photos and an excerpt from the responses they gave us to a short series of questions. To see their complete responses, clickhere .
The editorial staff here at Bank Investment Consultant then sifted through the nominations and made the final determination. Here are our final eight. Unlike our signature rankings such as the BIC Top 50 or the Top Program Managers, this list is purely qualitative and subjective, but these advisors have the characteristics that we feel point to ongoing success in the industry.
Click through to see photos and an excerpt from the responses they gave us to a short series of questions. To see their complete responses, click
Nathan Bosek
Bremer Bank
St. Cloud, Minn.
Raymond James
Age: 27
One of the biggest changes I face compared to my older colleagues is foot traffic in the banks. I work with my bank partners to try and generate ways to increase foot traffic and one way is through a joint planning appointment. Client willing, we include the personal banker in the financial planning meeting so we can discuss loans, deposits or anything else that we can help them with.
St. Cloud, Minn.
Raymond James
Age: 27
One of the biggest changes I face compared to my older colleagues is foot traffic in the banks. I work with my bank partners to try and generate ways to increase foot traffic and one way is through a joint planning appointment. Client willing, we include the personal banker in the financial planning meeting so we can discuss loans, deposits or anything else that we can help them with.
Andrea Devon
Elmira Savings Bank
Elmira, N.Y.
LPL
Age: 27
One of the important issues I face stems from working inside a financial institution. I have many clients currently invested in CDs that are subject to interest rate risks. With interest rates being at an all-time low, I have been able to provide alternative options to CDs that have turned out to be more rewarding with less time commitment.
Elmira, N.Y.
LPL
Age: 27
One of the important issues I face stems from working inside a financial institution. I have many clients currently invested in CDs that are subject to interest rate risks. With interest rates being at an all-time low, I have been able to provide alternative options to CDs that have turned out to be more rewarding with less time commitment.
Katie Fehrenbacher
First National Bank
Olney, Ill.
Investment Centers of America
Age: 26
I've learned that some clients who think they're okay with market risk, really are not okay with it at all when things get volatile. For instance, I recently had a new client request an appointment. She hadn't kept track of her balance as much as watched the news and started to worry about her account. I think she just wanted to reassurance, and left my office feeling comfortable and confident.
Olney, Ill.
Investment Centers of America
Age: 26
I've learned that some clients who think they're okay with market risk, really are not okay with it at all when things get volatile. For instance, I recently had a new client request an appointment. She hadn't kept track of her balance as much as watched the news and started to worry about her account. I think she just wanted to reassurance, and left my office feeling comfortable and confident.
Nancy Hernandez-Guzman
Patelco Credit Union
San Bruno, Calif.
CUSO Financial Services
Age: 29
One of the best pieces of career advice I've received was that all financial advisors have access to similar investment options, and while the products that you choose are important to reach a clients financial success, what really matters is the trust you earn from your client. The product they are buying is really you. Mastering what it takes to be a trusted advisor will make you successful in this career.
San Bruno, Calif.
CUSO Financial Services
Age: 29
One of the best pieces of career advice I've received was that all financial advisors have access to similar investment options, and while the products that you choose are important to reach a clients financial success, what really matters is the trust you earn from your client. The product they are buying is really you. Mastering what it takes to be a trusted advisor will make you successful in this career.
Tariq Johnson
Altura Credit Union
Riverside, Calif.
CUSO Financial Services
Age: 27
I make a point to use analogies to explain things to clients in a simple manner as opposed to using industry jargon. One analogy is for clients who tend to make piecemeal financial decisions. I stress that it's important to have a cohesive financial plan, noting that if they were putting together a puzzle, they can't do so using pieces from three different boxes. Rather, it's important to find pieces that are meant to fit together.
Riverside, Calif.
CUSO Financial Services
Age: 27
I make a point to use analogies to explain things to clients in a simple manner as opposed to using industry jargon. One analogy is for clients who tend to make piecemeal financial decisions. I stress that it's important to have a cohesive financial plan, noting that if they were putting together a puzzle, they can't do so using pieces from three different boxes. Rather, it's important to find pieces that are meant to fit together.
Mike Monteverde
Citibank
New York
Age: 26
Many people have been blinded by the bull market over the past six to seven years and have market exposure that is uncomfortable and at times unreasonable. To correct this, we review the risk metrics of their current portfolio, examine their personal risk appetites and desired returns, and do our best to align the two.
New York
Age: 26
Many people have been blinded by the bull market over the past six to seven years and have market exposure that is uncomfortable and at times unreasonable. To correct this, we review the risk metrics of their current portfolio, examine their personal risk appetites and desired returns, and do our best to align the two.
Andy Rivenbark
TowneBank
Suffolk, Va.
Raymond James
Age: 30 (he qualifies for consideration because he has less than 5 years in the industry)
Financial media coverage has expanded tremendously in just a few short years. Not only is there television coverage from the moment the market opens until the minute it closes, but online coverage through social media can be accessed at any hour of the day. This readily accessible information will continue to expand and evolve, but it's important for clients to understand that this type of advice is generalized and may not meet the needs of more complex and personal situations.
Suffolk, Va.
Raymond James
Age: 30 (he qualifies for consideration because he has less than 5 years in the industry)
Financial media coverage has expanded tremendously in just a few short years. Not only is there television coverage from the moment the market opens until the minute it closes, but online coverage through social media can be accessed at any hour of the day. This readily accessible information will continue to expand and evolve, but it's important for clients to understand that this type of advice is generalized and may not meet the needs of more complex and personal situations.
Gene Songy
South Louisiana Bank
Houma, La.
Investment Centers of America
Age: 27
The biggest issue that I see every day with my clients is uncertainty. I live in a community that is driven by the oilfield and there is a lot of uncertainty in that sector right now. They are uncertain about the market volatility and how this will hinder their retirement plans. They are uncertain about having enough money for retirement and concerned about outliving their savings.
Houma, La.
Investment Centers of America
Age: 27
The biggest issue that I see every day with my clients is uncertainty. I live in a community that is driven by the oilfield and there is a lot of uncertainty in that sector right now. They are uncertain about the market volatility and how this will hinder their retirement plans. They are uncertain about having enough money for retirement and concerned about outliving their savings.
