Smartest Takeaways From the Women Advisors Forum
June 12, 2014 4:14 PM
Smartest Things Heard at the Women Advisors Forum in New York
Attendees at the recent Women Advisors Forum, held in New York, shared their tips and experiences in topics ranging from branding their own practices to helping clients fund philanthropy and invest in fine art. And advisors had the chance to hear from industry veterans like Sallie Krawcheck. Click through our slideshow to see some of the smartest takeaways from the conference. To view these tips on single page click here.
Image: Regina Fleming Photography
Image: Regina Fleming Photography
Go Sallie
Keynote speaker and industry veteran Sallie Krawcheck talked about how women advisors succeed and her latest venture, the Pax Ellevate Global Women's Index Fund.
"One of the biggest takeaways for me was, 'Go, Sallie,'" said Kerri Kimball, a managing partner with Apogee Wealth Advisors. She's building this empire. She's got this network and now she's advocating an investment that supports women. I'm going to watch it very closely."
Image: Regina Fleming Photography
"One of the biggest takeaways for me was, 'Go, Sallie,'" said Kerri Kimball, a managing partner with Apogee Wealth Advisors. She's building this empire. She's got this network and now she's advocating an investment that supports women. I'm going to watch it very closely."
Image: Regina Fleming Photography
Finding Your Sucessor
Advisors approaching retirement said that they gleaned important insights from a panel discussion on succession planning. Advisor Jane Berryman, of Raymond James & Associates, appreciated the thoroughness of presenters Sarah Boston and Sarah Cray of Raymond James Financial Services.
"It resonated with me because I'm 52 years old and I'm going to start thinking about retirement eventually," said Berryman.
Image: Regina Fleming Photography
"It resonated with me because I'm 52 years old and I'm going to start thinking about retirement eventually," said Berryman.
Image: Regina Fleming Photography
Funding Philanthropy With Complex Assets
Advisors who help clients achieve their philanthropic goals were drawn to Fidelity Charitable's Karla D'Alleva Valas' lecture on the benefits of funding those goals with complex assets. Amanda Friedman of LPL Financial said, If you arent talking about philanthropy with your clients, somebody else is."
Image: Regina Fleming Photography
Image: Regina Fleming Photography
Personalize Your Brand
Leasha Flammio-Watson's message to embrace the personal when branding a practice resonated strongly with advisors.
"Years ago everyone had to act the same and sound the same but now the industry has changed where women can be who they are," said Kathy Anne Lo Bue, managing director, Glen Eagle Advisors in Princeton, N.J.
Image: Regina Fleming Photography
"Years ago everyone had to act the same and sound the same but now the industry has changed where women can be who they are," said Kathy Anne Lo Bue, managing director, Glen Eagle Advisors in Princeton, N.J.
Image: Regina Fleming Photography
Point-Counterpoint in Online Lending
Advisors attending the forum were divided on the value of online lending, following a presentation by Morgan Parkes, director of business development and investor relations at Eaglewood Capital Management.
"It sounds like it will be appealing to the generation coming in. They already do their own research. I think this one has legs," said Aisling Carroll of Highline Wealth Management.
Suzanne Lundreen Abrams, principal, Lundreen Abrams Advisors, cautioned that the risks appeared to be high. "I don't know if I would feel comfortable pitching it."
Image: Regina Fleming Photography
"It sounds like it will be appealing to the generation coming in. They already do their own research. I think this one has legs," said Aisling Carroll of Highline Wealth Management.
Suzanne Lundreen Abrams, principal, Lundreen Abrams Advisors, cautioned that the risks appeared to be high. "I don't know if I would feel comfortable pitching it."
Image: Regina Fleming Photography
Investing in Art? Be Sure to Check With Experts
Nancy Harrison, a fine art specialist at Emigrant Bank Fine Art Finance and Fine Art Asset Management, told attendees that investing in art can bring rewards, but caution is needed. The art world is byzantine, very opaque and very manipulated. One can make huge mistakes, she warned.
Image: Regina Fleming Photography
Image: Regina Fleming Photography
Preparing Clients for the Next Recession
While predicting when a recession may occur is notoriously difficult, that shouldn't stop advisors from preparing their clients for the next crisis.
One place to start: expect periods of unemployment to last longer than before, explained Polina Vlasenko, senior research fellow at the American Institute for Economic Research.
Vlasenko said that until the end of the 1970s the average time for unemployment was 15 weeks. Today, however, the average is 35 weeks.
People need to plan for at least six months, she said. But I would plan for more than that.
Image courtesy of American Institute for Economic Research
One place to start: expect periods of unemployment to last longer than before, explained Polina Vlasenko, senior research fellow at the American Institute for Economic Research.
Vlasenko said that until the end of the 1970s the average time for unemployment was 15 weeks. Today, however, the average is 35 weeks.
People need to plan for at least six months, she said. But I would plan for more than that.
Image courtesy of American Institute for Economic Research
