Thank you so much for joining us Julie. Can you tell us the “backstory” about what brought you to the finance industry?
I entered the financial services industry I like to say “by accident”. I was lucky enough to meet some great people who worked at UBS Financial Services who were also Lehigh alumni. I had never taken a finance class and always wanted to work in sports. But, somehow I ended up starting my career on a sales/trading desk at UBS 17 years ago. I found that it was easy to learn the business from the people around me and that I had a true passion for the industry. It’s challenging, always something new to learn/changing, and I get to work with great people.
Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or take away you took out of that story?
Success is not always linear or easy. In order to be successful, you need to learn from mistakes and be allowed to make mistakes. A few years ago I made a mistake. I owned it, apologized for it, and then moved on. Don’t be afraid to speak up when you make a mistake!
Are you working on any exciting new projects now? How do you think that will help people?
In my role as the Market Head of our Mid-Atlantic Private Wealth Management business, we are working on exciting things every day. We focus on meeting the needs of exceptional families of great wealth and business owners, which takes experience, dedication and above all, trust. This is the foundation of the strong one-on-one relationships we have with our clients, and we apply our global resources as the world’s largest wealth manager to create tailored, comprehensive solutions to help them achieve life’s most important goals. This enables them to pass on their values and legacy to the generations to come.
According to this report in Fortune, nearly two-thirds of Americans can’t pass a basic test of financial literacy. In your opinion or experience what is the cause of these unfortunate numbers?
I wouldn’t say that there is any one cause to point to, but one thing I do know is that starting from an early age is important and there are basic skills and programs in place that can help with this.
If you had the power to make a change, what 3 things would you recommend to improve these numbers?
a) Start financial literacy at a young age.
b) Teach your children the value of money and saving at a young age.
c) Help others.
Ok, thank you! Now to the main question of our interview: You are a “finance insider”. If you had to advise your adult child about 5 non intuitive essentials for smart Investing what would you say? Can you please give a story or an example for each.
Managing your finances can sound overwhelming but it doesn’t need to be. I like to tell people to think about it in these 5 simple terms and find a financial advisor you like and trust to help you put a plan in place to execute on this:
Think about your life and wealth along three key strategies: Liquidity, Longevity and Legacy. Each is designed to work in tandem throughout your life and beyond
a) Liquidity: what are your near-term expenses for entertainment, travel, taxes, purchasing a home? And what cash flow do you need to cover those expenses?
b) Longevity: what are your needs down the road — retirement, healthcare and long-term expenses (for you and your family), what other goals/longer term expenses will you have? How can you create a plan or a roadmap to make sure you will have the resources over the course of your life?
b) Legacy: what legacy do you want to leave behind? Philanthropy, wealth transfer over generations, giving to family?
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I have been lucky enough to have great mentors and sponsors in my career — both men and women. People are always looking for a “mentor.” I have had a few mentors in my life and I have mentored many young men and women, and I found that the key is to do it naturally and to not force the relationship. Come prepared when you have discussions/meetings with your mentors so you can use the time to get some good advice. Sponsors are different than mentors and it is helpful to have both!
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Keep your eye on the ball”. I grew up playing competitive tennis and my dad always used to tell me to “keep my eye on the ball”. I found that not only to be true on the court but also off the court and in life/work/family. It is important to stay focused on what is important.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger.
It excites me to see more women enter the financial services industry because we don’t have enough! I would love to see more interest in our industry from millennials and see more women come into and stay in this industry. The only way we can change that is by helping each other and working together to do this — no matter what age, firm or gender you are! The industry has made a lot of strides in doing this but there is still is a long way to go, and if we can get it right, it will change the way we work with clients in the future.
