We believe a more inclusive, diverse world is a better one.
Did you know that studies have shown a diverse management team correlates with higher profitability? One study showed that executive teams that were highly gender-diverse were 21% more likely to outperform on profitability.1 In addition, companies that are in the top quartile for gender diversity on executive boards are 27% more likely to have superior value creation. 1 Finally, gender diversity is also key to boosting workplace performance.2
Four times as many women dropped out of the labor force in Sept 2020 due to COVID-19 school and childcare closures.3 This year, the theme of International Women’s Day is #BreakTheBias. We hope you will join us in challenging gender bias and inequality, celebrating the achievements of women in the financial services industry and beyond, to create a more inclusive world based on skills, expertise, and hard work.
Celebrating Women in Wealth Management
Did you know women financial advisors make up less than 20% of all advisors?4 While we know the lack of gender diversity in the wealth management industry is pronounced, we are proud to be a registered investment advisory firm (RIA) with a corporate leadership team that is more than 50% female and a professional team that is comprised of nearly 50% women. At Beacon Pointe, we are committed to sharing our experiences of being women in wealth and the incredible career paths available to women within the RIA industry.
In honor of #IWD, we wanted to take the opportunity to highlight some of the influential female members of our team. Today and every day, we are grateful for their dedication to our clients, commitment to fostering a collegial spirit and demonstration of leadership in challenging times.
“I am passionate about educating women about finance and empowering them to live their best lives. I feel fortunate to have found a career (wealth management) and a firm (Beacon Pointe) that allows me to do this. Proud to be part of the incredible group of women at Beacon Pointe working to advance this mission.”
– Jill Steinberg, Partner, Managing Director
With over 30 years of investment advisory and banking experience, Jill Steinberg is a Managing Director and Partner at Beacon Pointe. She is very passionate about empowering women both personally and professionally and was recently awarded Beacon Pointe’s inaugural Women’s Advisory Institute (“WAI”) Advisor of the Year award. Jill also holds the Certified Divorce Financial Analyst (CDFA®) designation.
“I always liked the quote by Maya Angelou and use that for inspiration: “Each time a woman stands up for herself, without knowing it possibly, without claiming it, she stands up for all women.” I love working at a company dedicated to its Women’s Advisory Initiative which educates all women around personal finance, as it continuously gives me the opportunity to stand up for other women. I am also proud to be a woman in this industry, as each woman makes it easier for another to embrace her financial well-being and thus, her financial health.”
– Stephanie Rumold, Partner, Managing Director
Stephanie Rumold, CFP®, CPWA® is a Senior Wealth Advisor at Beacon Pointe Advisors with over 20 years of experience in the finance industry. Stephanie has extensive experience in retirement planning, investment management, insurance, charitable planning, and tax planning, and is passionate about empowering women around personal finance.
“Happiness is a choice. Choose to be happy in your own skin, and work towards becoming the best version of yourself! I hope as we move forward, we will not need a special day to celebrate women, and each day will offer equal opportunities to all!”
– Medha Nadgir, Manager, Client Service
Medha Nadgir is a Client Service Manager with a passion for educating, empowering and engaging women investors. She holds a Bachelor of Engineering degree from NIT Nagpur, India, and transitioned to the financial services industry in 2008. She has completed the educational requirements for the CFP® certification. Medha is actively involved with her alumnae and in community service through Sewa International.
“Get comfortable with discomfort.”
– Kate Pettee, Wealth Advisor
Kate Pettee, CFP® is a passionate advisor and advocate for financial literacy. She regularly hosts seminars to guide young professionals in building lasting financial habits early in their careers, as well as hosting national events through Beacon Pointe’s Women’s Advisory Institute. She has been included in the InvestmentNews ‘40 Under 40’ recognition program, which selects 40 honorees annually based on four criteria: accomplishments, contribution, leadership and promise. Kate’s desire and drive to be the best advisor for her clients is evident through her success in obtaining the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation and her candidacy for both the Chartered Alternative Investment Analyst (CAIA®) and Certified Divorce Financial Analyst (CDFA®) designations.
Beacon Pointe’s Women’s Advisory Institute (“WAI”)
In 2011, we formed our Women’s Advisory Institute with the mission to educate, empower and engage the women investors of today and the young investors of tomorrow. We believe it is of paramount importance to create a space where women of all ages, levels of financial knowledge, and unique life circumstances can express their thoughts and questions.
Through our allWEALTH® process, Beacon Pointe is committed to providing our clients and their families with peace of mind and the ability to meet their long-term life and legacy goals. Our firm also specializes in helping women through major life transitions including but not limited to the death of a spouse or loved one, a divorce, and next-generation planning. Whether a client needs comprehensive financial planning or investment strategy execution, or both, the Beacon Pointe advisory team has the resources and expertise to design a tailored approach.
We are dedicated and honored to be able to continue serving women investors, their families and be a beacon of light for women just starting their careers or re-entering the workforce in the financial services sector.
1 Hunt, Vivian, Prince, Sara, Sundiatu, Dixon-Fyle, and Yee, Lareina. Mckinsey & Company. Delivering through Diversity (January 2018). Retrieved on March 5, 2021 from https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Organization/Our%20Insights/Delivering%20through%20diversity/Delivering-through-diversity_full-report.ashx
2 Hunt, Vivian, Layton, Dennis and Prince, Sara. Mckinsey & Company. Why diversity matters (January 1, 2015). Retrieved on March 5, 2021 from https://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters
3 Kashen, Julie, Glynn, Sarah Jane and Novello, Amanda. Center for American Progress. How COVID-19 Sent Women’s Workforce Progress Backward (October 30, 2020). Retrieved on March 5, 2021 from https://www.americanprogress.org/issues/women/reports/2020/10/30/492582/covid-19-sent-womens-workforce-progress-backward/
4 Garmhausen, Steve. Women Make Great Financial Advisors. So Why Aren’t There More? (June 7, 2019). Barron’s. Retrieved on March 5, 2021 from https://www.barrons.com/articles/barrons-top-100-women-advisors-of-2020-the-push-for-greater-diversity-51595024100
Important Disclosure: This content is for informational purposes only. Opinions expressed herein are subject to change without notice. Beacon Pointe has exercised all reasonable professional care in preparing this information. Some information may have been obtained from third-party sources we believe to be reliable; however, Beacon Pointe has not independently verified, or attested to, the accuracy or authenticity of the information. Nothing contained herein should be construed or relied upon as investment, legal or tax advice. Only private legal counsel may recommend the application of this general information to any particular situation or prepare an instrument chosen to implement the design discussed herein. An investor should consult with their financial professional before making any investment decisions.