“Always look to where the play is developing, staying ahead of the curve—- we have seen the globalization of financial markets and financial institutions for the past forty years—but I think the future prowess lies in the atomization of the industry —-back to the individual as the real client.” PAS
Time and time again, L.M. Kohn has demonstrated that the corporate culture and immovable structure found in the large wirehouses are not always conducive to financial advisors and their clients. The flexibility and freedom to serve, adjust and understand the needs of the individual client, as the global financial markets dramatically evolve and develop, is paramount. When veteran advisors join L.M. Kohn after decades working for the big companies in our industry, it only proves our point. That’s why we’re happy to announce one of our newest representatives, Phillip A. Schwegmann.
Phillip’s interest in the financial industry began during his college career, which culminated in an MBA from the University of Notre Dame. Not only did he discover his talent for predicting future trends and identifying profitable investments, but he also found that he enjoyed the idea of reducing complex principles to understandable concepts for others to learn. Phillip saw an opportunity for utilizing this talent to teach finance as an associate adjunct professor at the University of Cincinnati for over 25 years.
Concurrent with his teaching career, Phillip became established with one of the largest financial services corporations in the world. His main focus was handling institutional work with 401k and pension accounts, which he enjoyed, and excelled at the creative and intellectual nature of the job. But as time passed, the evolution of technology, governmental rules and streamlined computerized platforms made this area of the business more process than prowess. Relying on his business acumen addressing the future changes in the industry, and after more than 30 years working for a large wirehouse, Phillip decided to make a big change in his financial practice.
“I think the atomization of our business, and the disruptive changes connected to AI, will alter the landscape for all financial firms,” said Phillip. “Wirehouses especially – under their current business models – will be acutely subject to these disruptions. The immense revenue requirements of large financial companies will be an impediment in adapting to the coming financial channels available to the individual. I think the smaller firms will be able to implement these new financial tools to control fees, capital requirements and enhance compliance, allowing the advisor to really think more strategically for their clients and not just process.”
With decades in the industry, Phillip had built a wide network of trusted colleagues. Many in his professional network encouraged him to go independent, and recommended L.M. Kohn as a broker-dealer.
“The decision to use L.M. Kohn wasn’t difficult,” said Phillip. “I have colleagues who work with
L.M. Kohn and they love it. They’ve been around a long time and have been successful in addressing the individual needs of the client. As the old becomes new again— client forward not process – still having a big company like RBC behind you closes the circle. A lot of my clients were worried that I was going from a big corporation to a smaller firm, but I ensured them they will have the backing of the 8th largest bank in the world, but with the nimbleness of a small firm not tied to any structure. The best of both worlds to meet the client’s needs and goals.”
Phillip joined the L.M. Kohn group in early 2024 and is enjoying the freedom that his new situation affords him.
For more information about the freedom that L.M. Kohn offers its reps, please contact us.
“Always look to where the play is developing, staying ahead of the curve—- we have seen the globalization of financial markets and financial institutions for the past forty years—but I think the future prowess lies in the atomization of the industry —-back to the individual as the real client.” PAS
Time and time again, L.M. Kohn has demonstrated that the corporate culture and immovable structure found in the large wirehouses are not always conducive to financial advisors and their clients. The flexibility and freedom to serve, adjust and understand the needs of the individual client, as the global financial markets dramatically evolve and develop, is paramount. When veteran advisors join L.M. Kohn after decades working for the big companies in our industry, it only proves our point. That’s why we’re happy to announce one of our newest representatives, Phillip A. Schwegmann.
Phillip’s interest in the financial industry began during his college career, which culminated in an MBA from the University of Notre Dame. Not only did he discover his talent for predicting future trends and identifying profitable investments, but he also found that he enjoyed the idea of reducing complex principles to understandable concepts for others to learn. Phillip saw an opportunity for utilizing this talent to teach finance as an associate adjunct professor at the University of Cincinnati for over 25 years.
Concurrent with his teaching career, Phillip became established with one of the largest financial services corporations in the world. His main focus was handling institutional work with 401k and pension accounts, which he enjoyed, and excelled at the creative and intellectual nature of the job. But as time passed, the evolution of technology, governmental rules and streamlined computerized platforms made this area of the business more process than prowess. Relying on his business acumen addressing the future changes in the industry, and after more than 30 years working for a large wirehouse, Phillip decided to make a big change in his financial practice.
“I think the atomization of our business, and the disruptive changes connected to AI, will alter the landscape for all financial firms,” said Phillip. “Wirehouses especially – under their current business models – will be acutely subject to these disruptions. The immense revenue requirements of large financial companies will be an impediment in adapting to the coming financial channels available to the individual. I think the smaller firms will be able to implement these new financial tools to control fees, capital requirements and enhance compliance, allowing the advisor to really think more strategically for their clients and not just process.”
With decades in the industry, Phillip had built a wide network of trusted colleagues. Many in his professional network encouraged him to go independent, and recommended L.M. Kohn as a broker-dealer.
“The decision to use L.M. Kohn wasn’t difficult,” said Phillip. “I have colleagues who work with
L.M. Kohn and they love it. They’ve been around a long time and have been successful in addressing the individual needs of the client. As the old becomes new again— client forward not process – still having a big company like RBC behind you closes the circle. A lot of my clients were worried that I was going from a big corporation to a smaller firm, but I ensured them they will have the backing of the 8th largest bank in the world, but with the nimbleness of a small firm not tied to any structure. The best of both worlds to meet the client’s needs and goals.”
Phillip joined the L.M. Kohn group in early 2024 and is enjoying the freedom that his new situation affords him.
For more information about the freedom that L.M. Kohn offers its reps, please contact us.
