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August 19, 2014 at 01:22 PM
After earning his undergrad in business and economics, Jason Jenkins, partner and co-founder of Denver, Co.-based Jenkins Wealth Management Group, got started by selling mortgage leads before moving into the fixed annuity space. After hosting a few seminars, he says he quickly realized, “Hey, I really like this.” “You can help people in a significant way. This is really important. People get divorced over money problems; people have heart attacks because of financial crises.”
His desire to help comes with a feeling of responsibility, especially to the senior clients who make up the majority of his business. “I’m a huge fan of history,” he says. “The senior generation deserves the best, because they’ve earned it and they’ve worked hard for their money. So I’m passionate about doing what I believe is best for our clients. That motivation to serve them is what drives me.”
“We gotta do this”
In 2005, his passion and enthusiasm led Jenkins somewhere unexpected: the Republic of Ghana. Shortly after earning his MBA from Point Loma Nazarene University in San Diego, Calif., he picked up a book by his former economics professor, Dr. Senyo Adjibolosoo, titled “The Human Factor in Leadership Effectiveness.” The more he read, the more excited he became as he highlighted and dog-eared the pages. “I said to myself, ‘Holy cow! How is this message not getting out there?’”
Jenkins set up a meeting with Adjibolosoo, and told him “These ideas can’t die on the bookshelf. People need to be exposed to this. What can we do about it?’” Adjibolosoo explained that he dreamed of one day starting a school based on the principles of leadership and compassion discussed in the book. “I said, ‘We gotta do this,” Jenkins recalls. “I have no idea how, but we’ll figure it out.”
In 2007, they purchased 100 acres in the Volta region of Ghana and begin laying the groundwork for a school. They also converted a former British tobacco factory into a library of more than 80,000 books, the largest in the region. Today, the Human Factor Leadership Academy has more than 250 preschool and elementary-age students, and discussions are underway to expand a portion of the tobacco factory into a high school. The Academy’s website describes the school as “committed to producing honest and compassionate leaders who will one day bring monumental positive changes to the continent of Africa.”
During his time in Ghana, Jenkins says he learned valuable lessons that he now shares with his own children. “If you ask my kids, ‘Where are the best ideas in the whole world?’ they’ll say, ‘ My dad told me they’re in the graveyard, because people didn’t take the risks to make things happen,’” he says. The stories he heard from the village chief and other elders in the community have given him a different perspective on life. ”And now I get to turn around and share them with others as life lessons that can spark the most beautiful conversations.”
The future
Like many in the industry, Jenkins expects major changes for advisors in the coming years due to shifts in technology and distribution. But rather than fearing the unknown, Jenkins says he’s confident about his future. Why? “It’s all about value,” he says. The distribution of financial products over the Internet or through big box stores like Walmart and Costco will undoubtedly grab market share, he predicts. “And who will that affect? The products pusher,” he says. “Consumers are changing and that’s forcing the advisors and products to change. The consumers’ voice and their power of choice is going to continue to grow. If an advisor is focusing exclusively on product, rather than process and providing a unique value proposition, then he’s going to have a very tough time. “
Jenkins says foresight and desire will be key for advisors in the coming years. The successful advisors of the future “are going to invest in themselves. They’re going to invest in their knowledge, their process and their branding so that they are naturally referable and clients will say, ‘This is somebody who cares.’”
The keys to trust
In the past, the financial industry has too often relied on a” slap on the back, ‘Hey, trust me’ mentality,” Jenkins says. “But trust can be a very empty word.” He believes two key components must be present before trust can exist: knowledge and understanding. Jenkins and his brother and business partner Brad, co-founder of the practice, strive to “make deposits” in both areas on a daily basis.
