Get to know Cory Hertenstein, Associate Vice President, Automated Customer Account Transfer (ACAT) Security Processing Manager
Cory emphasizes the importance of proactive learning in the nuanced, constantly evolving finance industry.
1. How would you describe your role and key responsibilities?
As an operations manager, I oversee teams for account transfers and security processing, providing support on a broad range of topics. We facilitate transfers in and out of the firm. These can be electronic, automatic, manual, and in some cases, physical. We provide support for the front office by applying our expertise to help ensure these transfers are seamless.
2. What motivated you to pursue a career in finance, and what keeps you passionate about your work?
I’ve always had an interest in numbers. In college, I pursued a degree in economics due to an interest in macroeconomic trends. Working in finance, I get to see the effects these trends have on a broad range of investments. It also gives me an insight into the behavioral components of investing. I am passionate about our piece in the broad picture of helping clients navigate these trends. I also like to keep my finger on the pulse as a hobbyist in investing.
3. How has the financial services industry evolved since you started, and what changes have you observed related to your work?
The industry is constantly changing as policy evolves, and it is important to stay in front of these changes to serve our clients. Directly related to my areas of oversight, the account transfer process has experienced many significant efficiencies, with most ACAT transfers completing within three business days. With the broader industry push to dematerialization, electronic stock transfers have become more prominent. We have the opportunity to work with physical securities in a way few do, and we help clients to modernize their holdings where possible.
4. What do you like most about working in security operations?
D.A. Davidson’s operations community is tight-knit, and we have good relations across all departments. In operations, we have broad exposure to the complete financial picture. Having that access is a great way to see the full scope of the industry.
5. What skills do you believe are essential for success in your field and how do you cultivate them?
It is important to be naturally curious. The longer a team member spends in the field of finance, the more there is to learn. I encourage my team to learn as much as possible about the industry as they can; you never know when you’ll cross paths with new experiences. By being proactive and “owning your career,” my team is able to take advantage of avenues to grow within the industry, whether that is through diversification, obtaining certifications, or any number of other experience-building opportunities.
6. How do you balance the demands of your job with your personal life, and what strategies do you use to manage stress?
A healthy work-life balance is important. I budget specific times for specific tasks when possible, which builds structure in the day-to-day. Of course, it is crucial to be flexible for anything out of the ordinary. Creating a pecking order helps with prioritization. If the day is particularly stressful, taking breaks for short walks away from the office helps ground me.
7. What is your idea of a perfect day?
Any day where I accomplish all my goals and can go home to hang out with my wife and kids is a perfect day. Fortunately, D.A. Davidson allows me to have these perfect days often.
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