Women in Finance~ New Pamplin Education series
~Contributed by Erica Mathews
Just know, you can’t do it all, but you can do a lot with proper discipline and faith
What led you to finance?
Finance is my second career. For about 8 years, I was an interior architect. Providing a high level of service, attention to detail, and personal touch are skills I learned while in architecture and skills I still use every day in finance. I began my transition into finance about three and a half years ago, but you could say my financial education began at birth.
My mom is a retired CPA and my dad owns a financial advisory and investment management company. After having my second child, I began to search for more flexibility in my working schedule. When my dad, causally mentioned, again, the idea of someone taking over the family firm (way in the future), I began to consider switching careers and learning more about finance. I started by reading books, listening to podcasts, and taking basic classes on Lynda.com. I came to realize just how much I missed math and analysis and decided I needed to take a deeper dive into what it would mean to work for my dad in finance. He told me if I was serious, I needed to get the CFP® certification.
I dove in, studying anywhere and anytime I could: in the evenings, on the train ride into work, occasionally on the weekend. I completed the classes and started to study for the November 2020 exam while still working in architecture, raising two other little boys, and pregnant with twins. I failed my first attempt and had to wait a year to re-take the exam because of my twins’ births. I officially started working for my dad 4 months after they were born and passed the exam the following November. I love the daily challenges, relationships, and individual problem solving I get to do.
What is unique about being a female in finance?
In general, the profession is still very male dominant, but I do believe there is a unique place for women to serve within the financial industry. More and more women are having larger incomes, starting their own business, and diving into investing. They need people to explain their finances and the opportunities they can have by managing their money well. These women seem to trust other women more. They are looking for a relationship with their advisor. Women, in general, are more relational so this comes more natural to us.
Are there any specific hurdles you feel like you face as a female?
I have been lucky enough to work in a family business. I have been encouraged to explore what makes me unique as the only woman in the firm. I have not personally experienced anything negative within our company. Personally, I struggle a bit with feeling confident when I am speaking to just men about their finances. It is an area I am growing in. As in any male dominated profession, there are bound to be some gender inequalities in some companies. My biggest advice for this is to stand your ground, be confident, and present yourself in a manner that shows your strengths. Those strengths may (and possibly should) be different than your male co-workers. Capitalize on them and be sure that others are aware of them.
What advantages do you find as a woman in finance?
As I mentioned before, women tend to be better at relationships than men. I think this is a huge advantage! Having people skills, remembering to send a birthday email, and building and maintaining relationships with clients are huge assets. Trust is essential when you manage someone’s money. Building a relationships and truly caring about your clients is imperative to having a successful career.
What advice do you have for other women pursuing careers in finance?
Stick with it and know your strengths. I know many more female financial coaches than I do advisors. Maybe that path is better for you. It is a truly rewarding career that is centered on helping people and does not need to be tainted by greed. Remember that you are helping people be prepared for their future, provide for their families, and live out their dreams. There is nothing greedy about that. Most people struggle to understand even the basics of finance, so be a teacher, coach, and cheerleader for your clients.
One last thing, know your limits. There will be times in your life that you will not be able to do it all. Have the humility to recognize this when it happens and discern what is best for you, your family, and your future. I will never regret changing my career so I can have more time home with my kids.
About Erica Mathews
Erica Mathews currently works for Financial Counseling Associates. She completed her course work for the CERTIFIED FINANCIAL PLANNER™ certification at the College for Financial Planning and is one year of experience away from completing her certification. She is passionate about helping families build their wealth so they can live out (their dreams or calls God has places on their hearts). She lives in Colorado with her husband and four kids. They love everything outdoors including gardening, hiking, biking and simply exploring nature.
Questions? If you would like to reach out to Erica, her email is erica@fca-inc.com or visit www.fca-inc.com