Watches and broker-dealers? Jon Henschen of Henschen & Associates, LLC matched up his love for watches with four of his broker-dealer clients. According to Henschen, the pairing exercise reveals key qualities advisors may want to look for in their broker-dealer — and in their watches.
- Fortune Financial Service & The Hamilton Khaki Field Mechanical 38 mm
Similar to the Hamilton Field Watch, Fortune Financial has the tagline, "We keep it simple." Fortune does not use a clearing firm. Fortune allows advisors to purchase their own errors and omissions insurance, and it stays clear of illiquid investments to mitigate risk.
The Hamilton Field watch has features like Swiss movement and a sapphire crystal. The watch's heritage stems from the military, and it holds up well against outdoor activities. With an impressive compliance history, Fortune steers clear of high-risk investing, resulting in a broker-dealer that, like the Hamilton Field Watch, is ready for battle when market turbulence occurs.
- Arete Wealth & Raymond Weil Freelance Caliber Skeleton RW1212
The Raymond Weil Skeleton Watch is an excellent matchup of the artful and sophisticated ways that Arete communicates its industry offerings. Raymond Weil is an independent Swiss watchmaker that offers a true skeleton watch; other brands charge thousands more for a comparable quality.
Raymond Weil touts itself as artsy and high-end, which makes them the perfect match for Arete Wealth. Arete is the only independent broker-dealer with a partnership with Masterworks, a provider of art-investment securities. Serving high-end accredited and qualified investors is Arete's primary focus. Arete also has an art and wine advisory program that integrates wealth-management success with exploring personal passions.
- LPL Financial & Longines Master Collection L26734783
Longines is one of 18 watch companies owned by the Swatch Group. Watches in the Longines Master Collection have many complications beyond telling time. Longines' proprietary Swiss movement makes it the only watch in its price range to bring such a combination of high quality and complications. The watch, with its high degree of complications, is surprisingly thin.
Like Longines, LPL Financial can offer more for less due to its scale, housing over 20,000 advisors. LPL also has in-house clearing, which adds its profitability advantages compared to other large firms. LPL has numerous complications in business models, technology, and services. Like the Longines Master Collection watch, LPL's scale and services provide high quality and value.
- United Planners Financial Services of America & Wise Adamascus AD830A
The Wise Adamascus is a microbrand watchmaker based in Taiwan. Microbrand watchmakers have successfully made an impact by offering more for less to gain market share, which holds for Wise Adamascus watches. The watch provides excellent value and features typically seen on dive watches totaling over $2,000.
According to Henschen, United Planners shares similar qualities as Wise, offering more for less. United Planners reflects the economic freedom of Taiwan, allowing advisors freedom concerning where they can custody advisory assets. Advisors also can own their data and avoid delays in tech updates due to United Planner's agnostic approach to technology choices.
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