In the world of research and advocacy, dedicated individuals and organizations play a pivotal role in bringing meaningful change to society. At the Center for Women in Financial Services, we are honored to acknowledge the profound impact of a generous donor, Mary Wright, whose vision and philanthropy have paved the way for developing a successful research enterprise, one that has shone brightly in media mentions and professional circles.

The journey towards transformative change began with Wright’s generous contribution to establishing an impactful research project in late 2020. Her support allowed the Center to conduct vital research exploring the unique traits of successful financial advisors. This visionary donation set in motion a series of events that have enriched our understanding of what contributes to success as a financial advisor and provided ample evidence for industry partners to better understand the unique needs of female professionals in the industry. The research earned six industry trade publications placements within two weeks of the launch and has appeared in white papers as well as numerous professional presentations reaching thousands of industry professionals.

The initial funding of the Traits of Successful Advisors research project laid the foundation for the Center’s research initiatives and contributed to the future research agenda. With Wright’s ongoing financial support, we established a research fellow position at the Center for Women in Financial Services, the esteemed Wright Fellowship. This fellow will work with our Research Director to collect data studying Gen Z perceptions of careers in the financial industry, their work attitudes, and strategies to attract more Gen Z women to the industry. Our research will enhance our understanding of Gen Z's work attitudes and interest in financial services. The fellow will play a crucial role in publishing findings, developing industry presentations, and creating educational materials for the financial services sector in Spring of 2024. We are grateful for Wright’s commitment to the Center and the mission to advocate, educate, and support the success of women at all levels within the sector.

With Wright’s continued support, the Center for Women in Financial Services is well-positioned to continue advocating and educating the industry on the critical need for supporting women in finance at every level. Our mission to break barriers and empower women in this field would not have been possible without the unwavering generosity of our donor, Mary Wright, who has enabled us to bring about lasting change in the industry.

In conclusion, we extend our deepest gratitude to our visionary donor, Mary Wright, for her commitment to our cause and her invaluable contribution to the success of our research enterprise. We look forward to continuing our work, striving to create a more equitable and inclusive financial services sector, and making a lasting impact on the lives of women in this industry. Together, we can bring about positive change and inspire future generations to follow suit.

In a strategic move towards enhancing accessibility and amplifying impact, the Center for Women in Financial Services is gearing up for a shift from a singular Women Working in Wealth Summit & Awards Signature Event to a series of dynamic micro-events hosted at various locations across the nation. This evolution aligns seamlessly with the broader vision of The College: to elevate the profession's expertise through specialized financial knowledge and education.

Diverse Avenues, Richer Understanding: The New Landscape

The decision to migrate to smaller, targeted events reflects a commitment to championing professional diversity and transforming avenues of access to financial expertise. Recognizing the disparities in the services clients expect versus what they receive, The College is determined to bridge this gap. With participation in events such as the NAIFA Women’s Fly-In in Washington DC, FA Magazine’s Invest in Women in West Palm Beach, FL, and the IN Women Advisor Summit in Chicago, the aim is to foster a more inclusive representation within the financial services sector.

Opening Doors to Career Success: A Commitment to Diversity

At the heart of this transition is the goal to tackle advisor shortages and increase diverse representation within the industry. The micro-events, strategically located across the US, provide a platform to attract, recruit, and retain advisors from all backgrounds. By connecting with organizations like Women in Insurance in Financial Services (WIFS) and participating in initiatives like the CFP Board Diversity Summit in Washington DC, The College aims to create innovative programming that opens doors to career success for a broader spectrum of professionals.

Holistic Planning for Every Stage: A Focus on Retirement Education

Recognizing the pressing need for comprehensive retirement planning, The College is prioritizing the deepening of retirement expertise among financial professionals. The micro-events offer a unique opportunity to disseminate vital retirement planning knowledge. This focus is not limited to a specific age group; it extends to every American seeking financial security. By participating in events like the Carson – Excell Represent, The College is actively contributing to a holistic approach to retirement planning at every age and stage of an individual's wealth-building journey.

Empowering Individuals, Transforming the Future

As The Center for Women in Financial Services aligns itself with The College's overarching vision, it sets the stage for empowering individuals and transforming the future of the financial services sector. By hosting micro-events in key locations and participating in diverse industry summits, The College is not just responding to changing needs but actively shaping a new era of financial specialists. The focus on education, diversity, and retirement planning reflects a commitment to bridging gaps, opening doors, and ultimately, empowering a more inclusive and knowledgeable financial community. The journey from one signature event to numerous micro-events marks a strategic leap towards a future where expertise is diverse, knowledge is inclusive, and financial strength is within reach for all Americans.

In 2023, we had the honor to award women designations beyond the WMCP® thanks to the generous contribution from LPL Financial. We applaud their dedication and commitment to advancing their knowledge and expanding their opportunities.

• Amanda Corral
• Anna N'Jie-Konte
• Carol Parrish
• Cherie Stueve
• Christina Vaughn
• Jasmine Bridges
• Kristin Feliz
• Lisa Macbeth
• Macey Markowitz
• Megan Mills
• Meredith Dean
• Mónica Clesse Meléndez
• Paula  Kurday
• Rachel  Sims
• Sara Griffin
• Sasha Walters

As this cohort embarks on this educational journey, we encourage women to make the most of the opportunities available to you. Their success is not only a personal triumph, but also a testament to the collective strength of women in the financial services sector.

Congratulations to all our scholarship recipients! Their commitment to excellence is inspiring, and we look forward to witnessing their continued growth and success in the financial services industry. May this scholarship be a stepping stone toward achieving their aspirations and making a lasting impact in the field.

We are thrilled to extend our warmest congratulations to the exceptional individuals who have been awarded scholarships for their pursuit of excellence in financial services education. Among these outstanding scholars, seven have been granted the prestigious Ameritas Scholarship for the Wealth Management Certified Professional® (WMCP®) Program. We applaud their dedication and commitment to advancing their knowledge and skills in the field of wealth management.

Ameritas Scholarship for WMCP® Program Recipients:

• Amber Valdovinos
• Andrea Cohen
• Brittnei Washington
• Diedre Braverman
• Megan Harkins
• Michelle Piper
• Vanessa Johnson
   

Their applications shone brightly in a competitive field, capturing the attention of the scholarship committee. Their professional excellence, leadership qualities, and unwavering commitment to ongoing education are exceptional.

In the ever-dynamic exploration of leadership in the world of wealth management, the Center for Women in Financial Services’ collaboration with Investment News shines a spotlight on the powerful journey of women in financial services from leadership roles to influencing critical decisions to propelling better outcomes for clients and businesses alike. Here are five key lessons that the Center learned at the Investment News Women’s Events:

1. Inclusivity Drives Effective Leadership: Embracing inclusivity in decision-making is a key factor in becoming a more effective leader, as demonstrated by the experiences and transformative decisions shared by the industry executive.
2. The Power of Authenticity: Authenticity emerges as a potent platform in wealth management, fostering trust with clients, enabling diverse perspectives, and serving as a catalyst for business growth—highlighting the importance of being true to oneself in the industry.
3. Strategic Model Selection for Growth: Success in wealth management involves recognizing and leveraging the unique strengths of different business models, whether as a broker-dealer, independent advisor, or RIA, offering opportunities for advisors to optimize their approach and potentially reshape their professional lives. Learn more about this from our Research.
4. Collaboration for Future-Proofing: Fostering collaboration within the industry is identified as a strategy for future-proofing businesses, emphasizing the collective approach to staying ahead in the evolving financial services sector and meeting the changing needs of clients.
5. Harnessing Unique Perspectives for Innovation: Women advisors and clients, with their distinct perspectives and approaches, are driving innovation in wealth management, suggesting the importance of identifying and capitalizing on unique opportunities for long-term success in the ever-evolving financial landscape.

As we reflect on these lessons, one thing becomes clear: The future of wealth management is bright, driven by the innovation, collaboration, and authenticity of women leaders who continue to redefine success in this dynamic industry. The Center for Women in Financial Services will continue to collaborate with organizations to foster inclusion for the industry at large. 

The American College of Financial Services is proud to announce the combining of leadership for the Center for Special Needs and the Center for Women in Financial Services. This exciting move follows the retirement of Hilary Fiorella, former executive director of the Center for Women in Financial Services. Moving forward, both centers will be led by Executive Director, Joellen Meckley.

“The Center for Women in Financial Services has made great strides over the past few years supporting the advancement of women in the industry. I am thrilled to join the team as we continue working toward a more equitable future together,” 
Joellen Meckley, Executive Director. 

The Center for Women in Financial Services appreciates your continued support as we undergo these exciting changes. We encourage you to take part in this journey moving forward, as we, along with the Center for Special Needs, work together to transform the landscape of financial services and create a more inclusive industry.

 In her recent article featured in Financial Advisor Magazine, Sophia Duffy, an assistant professor of business planning at The American College of Financial Services, discussed the effectiveness of tools such as revocable living trusts (RLTs) in planning as one ages.

Duffy compares the RLT to power of attorney (POA) and explains how RLTs can be even more effective than a durable POA.

Read on to learn more about this topic as Duffy enlightens readers to the usefulness of this tool!

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