**Update** A new interview with Bruce Bent II is available on CEO/CFO magazine
Bruce Bent II is an entrepreneur that has helped create some of the most unique cash solutions for the broker dealer, bank, and retail markets. Bent’s drive has influenced a number of different products in the development of cash sweep and also FDIC programs. Bent oversaw The Reserve, a money market mutual fund, for over 20 years. Under Bent’s leadership, the markets of distribution were diversified, as the firm made billions of dollars in revenue.
Bruce Bent II serves as the Vice Chairman and President of Double Rock Corporation, a leading financial services and technologies company. Bent is a senior executive to Double Rock’s multiple subsidiary companies. He earned a Bachelor of Science in Philosophy from Northeastern University. He has been quoted in a number of different publications, including the Wall Street Journal, New York Times, and Financial Times. Bent is also a member of the Young President’s Organization, which is a peer network that connects thousands of young global business leaders throughout the World. Bent recently sat down for an interview to help people gain more insight into his success.
What people have influenced you?
My father was a huge influence on my life. I believe in innovation, and my father helped me believe that just because something has never been done before, that does not mean that it won’t be successful. I continue to learn from people who aren’t afraid to follow their vision.
How do you come up with ideas?
It is never one person who comes up with an idea. It takes a team to make everything work the way that it should. It’s important to identify smart people. I try to keep things practical instead of relying too much on intellect. The customers may end up being the most valuable members of the team.
What advice would you give a younger version of yourself?
I would tell my younger self to look at building relationships faster. You may not always need a direct reason to speak with people, but networking is a great tool to help you find partners who can benefit your business.
Looking back at your failures, how did you overcome them?
Well, one of my biggest problems is not always listening to my intuition. Do your research, however in the end your intuition should be the deciding factor. Listening to that voice in my stomach is how I make my final decision.
What trends are you excited about?
How easy communication has become. Today, there is more dialogue among people, however, the conversation needs to be more productive. Things will evolve over time and hopefully we will talk with each other, educate each other, and work together throughout the World.
Could you explain the origins behind Double Rock?
A turning point was the invention of the first money market mutual fund in 1970. My father Bruce Bent and his partner Harry Brown came up with this idea. Soon, it grew into a trillion dollar industry. The business expanded to include other types of cash management products. We strive to continue evolving and creating new things.
What’s something that you feel strongly about even If others don’t?
I don’t think you need to go to college to be successful. Having a college degree as a minimum requirement for employment is not helping anyone. People should be judged on their performance instead of pedigree.