An interview with Jonathan Henkels, financial adviser and financial planning analyst at Phase 3 Advisory Services, Ltd. in Buffalo Grove.
Q: Describe your business. What do you do?
A: I am one of the most fortunate people in the world because I get to spend my day helping people in an extremely practical and important way; I have the privilege of helping them get the most out of their money and gain financial peace of mind, especially now, in this current environment of uncertainty. Money worries and troubles are one of the most common stressors in life and it’s our job to help take the pressure off people, guide them planning with their hard-earned money and investments. Providing my client’s with a big-picture game plan to reach their long term goals is my passion. Every day we help our clients take the necessary steps to satisfy their needs, which is empowering for everyone involved.
Q: What has been the most difficult obstacle in running or starting a small business?
A: Initially it was a lot of self-doubt; not doubt that I could help people, but doubt in my ability to show people that I could help them. I just needed the opportunity to show how well I could listen and then tell them how I could help. My company is relatively small and when you don’t have a big name behind you, naturally you have to work harder to overcome any initial skepticism in order to have the opportunity to prove yourself
But over time that fear hurdle has subsided and people are now recognize who I am, what I do, and how I can help them.
Q: If you could give one tip to a rookie business owner, what would it be?
A: I would say it is essential to be patient. It takes time to build a reputation. You have to show that you are in the business for the long haul and be dedicated to the process. A lot of the time, people are interested in your services but they don’t necessarily want to work with someone who may be gone in a year or two. It is a Catch-22, but you have to find a way to stay in the game long enough to show you’re stable and prepared to do whatever it takes.
Q: Who is your main influencer?
A: Nick Murray. Nick wrote some amazing books for financial advisers in how to work with clients. Even though it was written a while back, the themes and messages he created are still relevant and apply to today’s world, in fact, even more so with the chaos that is going on in the economy. He also inspired me to have the confidence to develop a philosophy and to stick with it. While I want to make sure I am taking my clients thoughts and emotions into consideration, I won’t be helping them or myself if I violate what I feel are absolutes in order to make a sale in the short term. Highly successful, effective Financial Advisors in our business have long-term partnerships and relationships; they don’t make it by taking short cuts.