Yobo Bello-Asemota explains her path into investing and the work of a long-term public equity investor.
Key takeaways
Strategic research supports public equity investing.
Active ownership is part of the discussion.
Representation matters in shaping the future of capital markets.
About this episode
In this episode of Rocking Finance, RTSWS CEO Ashley Leftwich speaks with Yobo Bello-Asemota, Vice President at ValueAct Capital, about what it means to be a long-term public equity investor. Yobo shares how strategic research, active ownership, and an understanding of both business and societal impact drive better outcomes in finance. She also discusses her path into investing and why representation matters in shaping the future of capital markets.
Follow us on LinkedIn, Instagram, and Twitter for more career insights.
Disclaimer: All financial and investment information contained in this podcast is merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this podcast, you do so at your own risk.
Listen to the episode
Transcript
Transcript supplied by Riverside; it may contain transcription errors.
Rock The Street, Wall Street: Welcome to Rocking Finance, the Rock the Street Wall Street podcast. Real stories, real access, real path into finance. Join us for candid high-impact conversations with industry leaders sharing the insights, experiences, career pivots, and journeys that can help young women advance through the financial industry with great confidence. Rock the Street Wall Street equips high school and university students, especially young women, by bringing the image To life through financial and investment fundamentals. We provide direct industry access and guidance supporting students and young professionals on their journeys from classrooms to careers while expanding participation in the capital markets. Through cohort-based learning, mentorship, and individual career connection, we help students build confidence, capabilities, and network. That opens doors. Our goal is clear: expand participation in the capital markets and strengthen the future of finance one cohort at a time. Today I'm your host, Ashley Leftwich, CEO of Rockmistry Wall Street, that loves rock finance. Yo voy, thank you so much for joining us. We're looking forward to today's discussion. You're a vice president on the investment team at Value at Capital. Can you start by sharing your background and the path that led you to public equity investing? Yeah, sure. I'm happy to. And so nice to be here with you, Ashley. So I'm someone who's intellectually curious. I've always considered myself to be this way, and I've been drawn to the intersection of ideas, people, and capital. And all of this is what led me to study economics, philosophy, and Hispanic studies at Columbia University in New York, which is kind of where a lot of this got started. Because while I was at Columbia, I got the opportunity to spend my summers interning at Morgan Stanley across a range of their divisions, you know, first in sales and trading, and then equity research and eventually in investment banking, which is where I started my career after graduating. Each of these internships gave me a different. lens into how markets work and how the world of finance works. From the fast-paced decision making in sales and trading to the analytical depth of equity research and the deal making rigor that I got in investment banking. And so following graduation I spent two years in healthcare investment banking at Morgan Stanley before joining the infrastructure private equity practice of a Swedish investment firm called UT, which I did for two years. And working at EQT gave me more of an operational perspective, you know, especially being in the infrastructure side of things. But over time I realized that I was more energized by the research-driven side of investing rather than chasing after the next deal. I wanted to spend more time analyzing businesses deeply and thinking long term. And so when the Value Act opportunity came along and it seemed to check many of these boxes, you know, being research-focused, long-term oriented, and operationally engaged. It made perfect sense for me. And so I packed up my life and moved out west to San Francisco to join the team. That's so incredible. And I love that you looked into, you know, what is it that you really enjoyed and found the right fit for that? Building on that, what first drew you to finance and specifically the the public equity side of investing? Yeah. I mean, it's similar to what made me want to study all the things that I wanted to study and just this interdisciplinary lens that with which I've always approached the world. Just This idea of being drawn to the way things are done, thinking to people and to capital and an intersection between all of those things. I realized pretty early on in life that I didn't just want to look at numbers and, you know, through working in finance, realize I didn't just want to do deals, being spreadsheets, spreadsheets all day. I wanted to understand people, I wanted to spot patterns and think critically and ask big picture questions, which, you know, I was a philosophy major, so love asking questions. But yeah, applying those skills that I developed over time to asking these big picture questions about how businesses work and how should they work, how could they work better? Investing lets me do that. It lets me be truly interdisciplinary in my day-to-day work. It's a field where you're constantly learning about industries, about leadership, decision making, and the world at large. I also just love that it's a space where both analytical thinking and human insight matter. It's not just about being right on the numbers, it's about having a point of view and the curiosity to keep sharpening it. So it definitely keeps me on my toes and keeps things interesting. That human insight piece is really key. And Value Act is actually known for its long-term approach and for looking beyond just those numbers, as you were talking about, to consider industry structure and strategy. And even the environmental and social factors. So, how does that perspective shape your work day to day? Sure. I mean, in my day-to-day, I focus on understanding businesses at a really deep level. As you said, that's kind of our MO here at Value Act. So it's not just through financial models, but by speaking with people across the ecosystem, you know, former executives, customers, competitors, and sometimes academics or policy experts. I mean, I I try to piece together a mosaic of perspectives to better understand how a company fits into the broader industry and where could both the company and the industry could go. ⁓ also spend time working directly with management teams and engaging with them. The conversations with them help refine my thinking and help with pressure testing assumptions. So it's like teach and learn is how we like to say it. So I'm learning from their perspective and Where there's alignment, sometimes we find ways to collaborate together on creating that long-term shareholder value. ⁓ But what I like most about this work is that it requires both patience and curiosity. You'll hear me say both of these words a bunch of times whenever I talk about what I do. Because it's not just about chasing quick wins, it's about building conviction over time. We are long-term investors here. And that means asking tough questions, stress testing ideas, and being open to changing your mind, which does take some humility. Easy for me because I'm very early on in my career. So I don't think anyone expects me to know too much of anything, but maintaining that over time as you sort of establish yourself in the industry. So for me, it's about being thoughtful enough and humble enough to arrive at real unique insight, which is what generates the returns and makes makes one have a successful career. And as you might imagine, our students are so interested in what a day in the life actually looks like. So share with us a little bit about what your day and your typical role looks like. I'm gonna be so cliche and say, well, no two days are the same. You know, it is true. Some days it's just me and my computer, maybe watching an animated YouTube video on semiconductors for dummies, or reading a dense white paper and trying to make sense of it. Sometimes it's more immersive, like spending a full day with a company executive, just listing, learning, absorbing as much as I can. Sometimes it's spending hours huddled around a round table with my team asking, you know, what are we missing? What's the counterpoint? What's exciting to you in your world today? So it can, you know, no two days are exactly alike. It can involve some mix of deep thinking and some conversations, but regardless of which one dominates in any particular day, it's always driven by curiosity. I love that. So, my background is in math, and that certainly taught me how powerful data can be informing those decisions, as you were sharing. So, how does data and analysis guide your investment recommendations? Sure. I mean, data plays a big role in helping us make better decisions in investing. Math and analysis helps us test assumptions, spot trends, and stress test different scenarios. So for example, I'll use a financial model to understand what would need to be true, like what you need to be believe is how we call these analyses, but wait what would need to be true for a company to succeed over time and where the risk may be hiding. So might ask questions like, what if a company grows more slowly than expected? And what if interest rates change? Or, you know, modeling these different scenarios helps us understand where things could break or surprise us, both for the positive but also for the negative, and helping us think about what is a reasonable price to pay for this investment and what kind of return could you hope to achieve over a set time frame. So but I see data as a way to sharpen your thinking and not replace it. This is even more important, I think, today with AI, et cetera. The analysis is important, but it's only part of the picture. You still have to ask the right questions. You need to understand the human side, which I've you know talked about quite a bit already. You need to understand that side of the business and connect the dots across different pieces of information. So data definitely is one step to getting there. You need to be facile with the numbers and understand how the tools that are out there for you, but also don't outsource your thinking. You do need to make sure you're asking the right questions and seeing the bigger picture as much as possible. I really love that phrase, don't outsource your thinking. And it possibly plays into the next point that I was just going to mention, which is you've been very vocal about increasing representation in finance. So can you share why you think it's important and what steps you take to help open doors for others. Yeah, sure. I mean, it's almost kind of funny that I end up sitting here in the seat as a public equity investor telling other people how to get to where I am because I never really saw myself doing this. Looking back on it, I think I did have an early interest in public equity investing. And I did have that typical experience of, ⁓ I got stocks for my birthday and whatever. I cared about the markets. But For whatever reason, I never saw it realistically for me. I shouldn't say for whatever reason, I think a big part of the reason was that I didn't see it for people who looked like me. And so it didn't seem like something realistic. I mean, I I thought I had a better chance of being a global pop star than sitting where I am today. And so having sort of stumbled my way into this. I see so many people, especially young women, count themselves out of the race before it even begins by just not thinking that this is something that is achievable. And so I do try to put myself out there a little bit more and encourage people so that they can see that it is very achievable. It is very doable. The people who are doing this are not rocket scientists. The rocket scientists are off being rocket scientists somewhere. It's regular people just like you who have an interest and a passion and have. the discipline to go out and make it happen for themselves. So that's that's a big part of why I think it's so important. There's so many other obstacles that you're going to have to overcome in this career and pursuing this path. You shouldn't be one of the obstacles. And you as you might imagine some of our students think public equity investing sounds very intimidating. But what's one myth that you'd like to clear up? I don't know if this is very flattering Myself to say this, but you just don't need to be a genius to do this. It's really not that hard. And I'm being so sincere when I say that. I think a lot of people in particular think you need to be some sort of math whiz. And I I've met people who kind of assume that that is the case. Like I said, you need to know enough to be dangerous, but also there is such a broad range of what it means to be a public markets investor. Like there are definitely pockets of this industry where you do genuinely need to be kind of a math genius to play in those fields, but that's not everything. There is a a lot of variety in what a public markets investor is. And so maybe some of your journey there and seeing yourself in that role might be finding a mentor. And this could either be someone you know in real life or just someone whose career that you admire who has a skill set that you maybe already have or have an interest in building. and model yourself after that person. But there isn't one archetypical public markets investor. And you know, if you don't fit the mold of some of the more famous ones that you might have heard of, don't count yourself out of the race. Like you definitely can still do this. You shared such great insights. What's one step our students can take this year to begin building both their confidence and credibility in the investment world? Well, I'll say for starters, if you're watching this interview and you're engaged with the Rock, the Street, Wall Street community already, then you are well on your way. A big, big part of what I've seen makes a difference between both getting into the industry and staying into the industry is establishing a community, a support system around yourself, especially because as you go into these spaces very often, you won't see a lot of people who look like you every day. And so that can feel a little isolating. It doesn't have to be isolating, but I understand that, you know, the mind can play a lot of tricks in us. So it's good to have that support system of people that you know who are who share these similar interests, who are at a similar stage in life, going through this, doing that group learning and peer-to-peer mentorship, as well as, you know, the traditional mentorship to somebody more senior and ahead of you who can tell you what's coming down the pike. So staying invested in these communities is a big going to be a big thing that you can do to get yourself started. But also just study things that are interesting to you. I've also seen people make the mistake of again thinking of a very narrow definition of what a public markets investor can look like and then taking courses and joining clubs that they don't have a passion for. And when you're not passionate about something, it's hard to be competitive against people who are. So it's better for you to Be as authentic and genuine in your interests as you can. It's not to say that something you can develop an interest over time. If something is not interesting to you right now, like reading the Wall Street Journal may not be super interesting to you right now because you may not understand all the jargon. But that is something that can be built up over time. But the passion is something that you can't really fake. So if your passion is for public markets, there are a lot of tools, there are newsletters that kind of summarize the news of the day in more bite-sized forms. And I can promise you that repeated exposure to the Wall Street Journal, The Economists, Financial Times, etc., you will begin to get into the flow of things and start to understand the jargon that is being spoken. But again, just do the things that feel authentic and natural to you and the rest kind of takes care of itself. Well, Yoba, thank you for bringing your authentic and genuine self to this conversation. We so greatly appreciate it and know that our students will find great value. So thank you. Awesome. I'm really glad to have helped in any way that I can. Thank you for joining the conversation. Visit Rock the Streetwall Street.com to learn more. Make sure to follow and join us for the next episode. Until next time, let's keep rocking finance.
Carmen Palafox discusses her path to venture capital, early-stage companies and leadership.
Key takeaways
The conversation explores what makes a strong founder.
Diverse teams bring different perspectives to investment and leadership.
Resilience matters when building a career in finance.
About this episode
In this episode of Rocking Finance, CEO Ashley Leftwich sits down with venture capitalist Carmen Palafox to explore the fast-paced world of venture capital, innovation, and leadership. Carmen shares her journey from studying economics at USC and building her career at Dimensional Fund Advisors to becoming a founding partner at 2045 Ventures, where she backs groundbreaking startups at the earliest stages. Together, they discuss what makes a great founder, why diverse teams drive stronger outcomes, how resilience shapes success, and the young professionals can apply as they pursue careers in finance.
Follow us on LinkedIn, Instagram, and Twitter for more career insights.
Disclaimer: All financial and investment information contained in this podcast is merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this podcast, you do so at your own risk.
Listen to the episode
Transcript
Transcript supplied by Riverside; it may contain transcription errors.
Rock The Street, Wall Street: Welcome to Rocking Finance, the Rock the Street Wall Street podcast. Real stories, real access, real path into finance. Join us for candid high-impact conversations with industry leaders sharing the insights, experiences, career pivots, and journeys that can help young women advance through the financial industry with great confidence. Rock the Street Wall Street equips high school and university students, especially young women, by bringing the image To life through financial and investment fundamentals. We provide direct industry access and guidance supporting students and young professionals on their journeys from classrooms to careers while expanding participation in the capital markets. Through cohort-based learning, mentorship, and individual career connection, we help students build confidence, capabilities, and network. That opens doors. Our goal is clear: expand participation in the capital markets and strengthen the future of finance one cohort at a time. Today I'm your host, Ashley Leftwich, CEO of Rockmistry Wall Street, that loves rock finance. Welcome to Rocking Finance, the podcast where we explore careers, leadership, and the people helping build the future of finance and investing. I'm Ashley Leftwich, CEO of Rock the Street Wall Street. Today I'm happy to be joined by Carmen Palafox, a seasoned venture capitalist and a star in the VC space. Carmen is a founding partner of 2045 Ventures, a venture partner at How Women Invest, and a partner at Mila Capital. She's been recognized with the Rising Star Award Los Angeles Latino Chamber of Commerce, spotlighted by the National Venture Capital Association as a Rising Star MVC, and featured by Los Angeles Magazine as one of LA's most powerful women. After graduating from the University of Southern California with a degree in economics, Carmen began her career at Dimensional Fund Advisors, where she helped scale operations across Latin America. Canada and Europe during a period of tremendous growth. Today, she focuses on identifying and supporting innovative founders at some of the earliest stages of company building. Carmen, welcome to Rocking Finance. Thank you, Ashley. I'm excited to talk to the students of Rock the Street Wall Street. Carmen, you studied economics at USC and earned an MBA from Berkeley Haas. What first sparked your interest in economics and investing? And what advice would you offer students who may be exploring careers that are different from their parents? Yeah, as an undergrad at USD, it was a time of exploration. So I took advantage of testing out different majors of f everything from geology to international relations, but I would say with the economics, I I started to really get interested. when we were diving into econometrics and statistics and looking at data on the difference between micro and macroeconomics. ⁓ So that was the foundation for me and in learning about the capital markets and the economy. I would say what sparked my interest in investing though was my time at Berkeley Haas and being at the Epicenter of tech and innovation in the Bay Area. I had incredible professors, Maura O'Neal and Toby Stewart, who are both practitioners. They're they both founded companies that were venture backed. And so through their lens and experience, I I really started to understand the impact of venture capital. And when you think about VC, I know we'll talk about this. later it really touches most of the products and services that we use. So when you think about Zoom, which we're we're using now, that was a venture-backed company. Alphabet and Google, which many of us use, is venture-backed, Netflix, which we all watch, venture-backed Moderna, and so on and so forth, even Starbucks and and Home Depot. So Venture plays a a critical role in in innovation and our economy. I love that you mentioned the data piece. That is something that we are very in tune with here at Rocklist Street, Wall Street, and also the relevancy of venture capital backing so many companies that we know and and many of us love. You actually began your career though at Dimensional Fund Advisors during a period of significant growth. the firm had expanded from approximately 75 billion to 300 billion in AUM assets under management. Looking back at those early years, what lessons did you learn about building expertise and earning opportunities and positioning yourself for future leadership roles? Yeah, just reflecting back at my time at Dimensional, I was so fortunate coming out of USC to land. my first job in my early twenties at a firm like Dimensional. Like you said, a period of really high growth. Back then we only had the Santa Monica office in the US and London and Australia internationally. So for me it was that's where I I learned everything. Our growth was really driven by Customer discovery. So really understanding what the customer needed and wanted and and satisfying that. It was very dependent on on data and theory. So most of the board at dimensional were Nobel prize winners in economic theory. So think Fom in French, right? And so incredibly exciting and inspiring to be in rooms with with those leaders. Also disciplined. Dimensional is very disciplined on their investing and approach and block trading. So learned a lot through that. But was very fortunate to just be led by an awesome leader, Rick Eustace, who really was himself very disciplined and informed and developed fact pattern, never jumped to to any conclusions. And so that was awesome to to be led by him, to learn to be a leader under him. And and then David Booth, he ended every company meeting with telling us to have fun in our jobs. And we did. Love that you mentioned that listening to customers is a key piece, that discipline aspect and then having fun at work. Those are all wonderful takeaways. Now we started talking about venture capital naturally, and it sounds so exciting and makes such an impact. Could you summarize venture capital for our listeners and what roles you often see venture capitalists play in helping innovative companies grow? Yeah. So just kind of tying my experience together at Dimensional, we're investing in public companies. The expectation is when you go public, you're profitable. I would say that's in question now nowadays, but Back then you were you were profitable. So going back to school and learning that VC invests in companies that don't have revenue yet in many cases was was very eye-opening to me. So venture capital is risk capital. It's that first money in when you may not have a product, you may not have revenue, you may not have customers, right? A bank is not going to issue you a loan because you don't have a history of revenue, you don't have collateral things like that. And VCs are underwriting different forms of risk. So we are underwriting a team risk, we are underwriting market risk, we are underwriting whether or not a company can scale and be repeatable across jurisdictions, across states, internationally, so on and so forth. So that is in basic terms what VC does, what VC provides to company is expertise and network. Right. And so this is very nuanced because I'm generalizing a lot. VCs come in different flavors and Our funds are different sizes, but at the early stage where I focus, I'm typically providing companies with expertise on their operating budget, right? If if I'm investing capital into a company, I want to know how they're gonna use that money and how what they're gonna use it on. Then we're talking about, well, what does this whole journey look like? What are your financial needs? Going on through year one, three, five, seven, helping them with their go to market, who their customers are, what their revenue model is, and making intros. So extending our network of limited partners. So as a fund, we have investors in the fund who are successful, who have networks of their own. So bringing all those resources to the table to help these companies get to the next level. Your venture career included Mila Capital, which focused on that frontier technologies and companies building physical products where hardware and software innovations are. And my parents are technologists, so I'm particularly attuned to this part of VC. Tell us about making those investments in fields where innovation is actually changing the landscape. Yeah, so I was fortunate coming out of Berkeley Haas to start my career in Southern California venture and land at a firm that was focused on what we call Tech You Can Touch, right? So this is anything that required manufacturing and LA has a deep history in manufacturing. We have two ports for us, it was being focused on helping founders really understand the complexity of getting from a design to actual manufacturing and being surrounded in this ecosystem by operators who have that expertise was was very valuable. And in terms of companies that we invested in through that first fund, Orbit Fab, they're building refueling stations in space. Which when you think about what has happened historically, satellites used to have to take all of their fuel up into space. So once they r ran out of fuel, that was it. ⁓ but now if you have a refueling station on on space, you can operate longer, so less waste, more efficiency. We invested in a wearable called feel that attracts emotions and and so that ⁓ it was useful for drug discovery, understanding how patients react to medication. And then another company we invested in called Pathspot, which identifies pathogens in restaurants and hospitality. So if you walk into a Marriott, they are Pathspot customers, so you can be assured that they they are serious about health and have that as their operating system. And they're in also several different restaurants chains at this point too. Wow, that's very interesting. Such interesting companies. 2045 ventures, you often are in the pre-seed stage. So you talked a little bit about how you're looking at what budget is, what their operational budget is, what they're going to spend money on. And What are some of those other things that you're looking for whenever you meet founders who have a little more than an idea or a prototype or a vision? But what what qualities make you think this is someone I want to back? Yeah, I think this is very hard to encapsulate. It is definitely more art than science, right? So we've talked about data, but at the very early stage f with a a founding team. Especially in the areas that I invest in in in deep tech, I'm looking for both hard skills and soft skills. Hard skills obviously do have the technical chops to do what you want to do and bring your big vision to life. I'm often backing more folks with scientific backgrounds and so understanding do they have prior patent history? What does that look like? What have they brought product market, what publications do they have, ⁓ what can they point to in in in terms of their technical expertise? And then on the soft skill side, which is often overlooked or or not taken into as much consideration, is do they have an ability to to lead, right? Are they gonna be able to grow the company to a successful stage? What does that look like? And especially at the early stage, it's very chaotic. There's a lot of uncertainty. It's a roller coaster ride. So major peaks and valleys. Are you able to accept that and not walk away? Right. And so just looking for for a lot. And as a VC you have to be able to identify that in a short period of time. So it's it's not typically at pre seed, you don't have years and years to be able to underwrite a team. You have to do as best you can with with what you have. I have a mathematics background, so I love data. And of course we measure outcomes and impact. But I like that you point out the fact that not all of it is historical data. There's other pieces that you're picking up relationally about the people that you potentially are working with and those that you're going to invest in. One of the things that stands out about 2045 ventures is that the firm is grounded in data showing that diverse founding teams can deliver strong outcomes. You've shared that companies with women on founding teams are more likely to generate stronger returns and ethnically diverse teams can also outperform. What should our students understand about the value of bringing different perspectives to providing solutions? Yeah, our history of 2045 is definitely rooted in that data. So understanding the fact that women are capital efficient, right? They they definitely, in my experience, are incredibly scrappy and gritty and have been proven to to outperform sixty percent of the companies we invested in in our first fund are led by women. So we're excited to to track the progress there and to see what comes next. Many of our students are also scrappy and gritty. What advice would you give the young people building resilience when they inevitably will encounter setbacks along the way? Yeah, if you are looking to build company, there will be many setbacks and there will be a lot of uncertainty, a lot of chaos as always talk to founders. It's never over until there is some sort of exit. And so endurance is important. Having support a solid support network in your family and friends, having different outlets is incredibly important. So I think those are those are all things that I highly recommend. I'm pretty active in in my community here in Santa Monica in so many different ways. Well, you mentioned endurance and you also run marathons. You've built a career in an industry that's urgent and yet also rewards patience and discipline and long-term thinking. So what lessons from those endurance sports have influenced your approach to venture capital and leadership? I ran my first marathon in London. So London Marathon was an incredible experience. I qualified for the Boston Marathon in that first marathon and I credit that to my coach, Jackie Hansen. She was the first woman to break 240 in a marathon. Jackie's also responsible for getting the marathon included in the nineteen eighty four LA Olympics. So she was a very strong advocate for distance running and for women in sports. So what I've learned from sports in my career is A few things it's it's putting in the hard work, doing the reps. Like in venture at this point, I've made over forty five investments and I've learned from each and every one. You have to reflect back on what works, what doesn't. And that's the same in training for a marathon. Every time you increase your distance, you're learning something about your body. And in addition to the reps, there's also discipline. So Jackie gave me a plan and I followed it. I did everything she said I needed to do and that was really important. And as a result of that, was able to qualify for the Boston Marathon in that first run. So discipline is incredibly important in venture. You just at the early stage, you just don't know what companies are gonna break out until they break out. So you have to be very disciplined at pre seed. How inspiring and congratulations. That's that's incredible. We often asked our guests if they were to go back and give your student self one piece of advice about careers, confidence, or life, what would it be? Yeah, the one piece of advice that I always come back to, it was given to me by one of my colleagues actually at Dimensional and he said, play the cards or dealt. And it's something that resonates with me because No two people are the same. If you're sitting next to someone at the poker table or if you're playing dominoes, or you're each gonna have a different set of cards ⁓ to play. And that situation is unique to your own self. So for me that means my network is is unique. It means that my relationships are important and I need to think strategically about the decisions I make. Carmen, thank you for sharing your experiences and insights with us today. I love playing the cards that you're dealt. Your journey reinforces the innovation benefits from many perspectives that sometimes the most meaningful opportunities begin with courage to take the first step into similar or something unfamiliar. To our students and listeners, remember you don't need to have your entire future mapped out today. Stay curious, continue learning. Build relationships and don't be afraid to pursue opportunities that stretch you beyond your comfort zone. Thank you for joining us for another episode of Rocking Finance. Until next time, keep learning, keep asking questions, and keep investing in yourself. Visit Rock the StreetWall Street.com to learn more. Make sure to follow and join us for the next episode. Until next time, let's keep rocking finally.
RTSWS alum Marilyn Shi reflects on early opportunities, internships and her academic and professional journey.
Key takeaways
RTSWS helped introduce Marilyn to financial knowledge and career possibilities.
Internships and campus leadership influenced her aspirations.
Networking helped shape her professional journey.
About this episode
In this episode of Rocking Finance, we sit down with RTSWS alum Marilyn Shi, who first joined Rock The Street, Wall Street as a High School student, where she served as her cohort’s Student CEO. Now a rising senior at the Wharton School studying Economics and a member of the RTSWS Alumni Advisory Council, Marilyn reflects on the experiences that have shaped her academic and professional journey.
Marilyn shares the lasting impact of RTSWS, how internships, campus leadership, and meaningful networking opportunities have influenced her career aspirations. From the confidence and financial knowledge she gained to exploring careers in finance, Marilyn’s story reminds listeners of the impact of Rock The Street, Wall Street programs.
Follow us on LinkedIn, Instagram, and Twitter for more career insights.
Disclaimer: All financial and investment information contained in this podcast is merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this podcast, you do so at your own risk.
Listen to the episode
Transcript
Transcript supplied by Riverside; it may contain transcription errors.
speaker-0: Welcome to Rocking Finance, the Rock the Street Wall Street podcast. Real stories, real access, real path into finance. Join us for candid high-impact conversations with industry leaders sharing the insights, experiences, career pivots, and journeys that can help young women advance through the financial industry with great confidence. Rock the Street Wall Street equips high school and university students, especially young women, by bringing the ⁓ and STEM to life through financial and investment fundamentals. We provide direct industry access and guidance supporting students and young professionals on their journeys from classrooms to careers while expanding participation in the capital markets. Through cohort-based learning, mentorship, and individual career connection, we help students build confidence, capabilities, and networks that open doors. Our goal is clear: expand participation in the capital markets and strengthen the future of finance one cohort at a time. Today I'm your host, Ashley Leftwich, CEO of Rock the Street Wall Street. Now let's rock finance. Welcome to Rocking Finance. Today we're joined by Marilyn She, a Rock the Street-Wall Street alum who served as a student CEO for her cohort at Stuyvesant High School. Marilyn is currently a rising senior at the Wharton School studying economics and serves as a member of the Rock the Street Wall Street Alumni Advisory Council. Thank you for being here and for sharing your experiences with our students and listeners.
speaker-1: Thank you, Ashley. I'm so excited to talk.
speaker-0: Marilyn, take us back to when you first joined Rock the Street Wall Street. What were your initial thoughts about the program and your cohort?
speaker-1: I gotta go back like this was six or seven years ago, but I remember I joined Rock the Street Wall Street the first year it came to my high school Stuyvesant. And I suppose me nor any of my classmates knew much about it. And I was a freshman back then and I didn't know the first thing about finance or what Wall Street was, but I just wanted to try all the new things that my school had to offer and I remember sitting in the auditorium and we were going over, I believe it was like budgeting. There was a woman from Invesco who was working with Rock the Street, ⁓ teaching us all of these things. And I got to turn around and meet new people from my high school across all the different grades. And it was just a really, really good experience and honestly got me hooked. ⁓ because after that I never left Rock the Street. I
speaker-0: Of course, love hearing that story as far as not only getting to meet those that are in other grades and across your school that maybe you wouldn't have met otherwise, but also the mentor side of things and getting to meet those professionals. Was there a particular mentor or inside day or office visit that stands out to you? What did you enjoy most about Rock the Street Walls?
speaker-1: I think for one, the people. ⁓ everybody says that, but I think the people who work with Rock the Street are especially special. So we had the privilege of working with Invesco, which was not a far walk from Stuyvesant. It was right on Brookfield. So we would just walk there and I remember we had one site visit. Me and a big group of girls from STI all went and we were all greeted by the really wonderful Invesco ladies. The person I worked with closely, Casey Ryan, who's amazing. There were a couple of other people who spoke with the girls, sort of spoke about their roles and what they were doing. To a freshman or sophomore in high school, you go in, you see these beautiful shiny desks, you see these large screens, there's TV, there's news everywhere, and there's just all this noise and bustle. like the sense of importance and to see that and to be in a place like that when you're that young, it sort of makes these things real and that exposure is so important. So I think that was one of my favorite experiences every time we could do those group trips to the Invesco office, see what everybody was working on and maybe see a little bit of the future in ourselves as well.
speaker-0: ⁓ What are you most excited about as you head into your senior year and begin thinking about your next steps after graduation?
speaker-1: It's crazy to me that I am gonna be a rising senior now. I feel like now I'm currently interning the summer, so I feel like there's still a little bit of that time before I process really that I'm a senior. I'm just excited to keep doing what I've done these past four years, which is try to make the most of it, whether it be my personal life. Meeting as many people as I can, especially in college. There's just so many people that you can meet. And we always talk about networking. And I think truly my peers are going to be people that I'll keep bumping into, hopefully, for years and decades ahead. And I'm just excited to keep meeting everybody. It's a big school, and that's part of it. Another part is just to keep diving into my academics. So I'm doing a real estate and legal studies concentration with an art history minor. So it might sound a little bit like a jumble, but I am super excited to continue all this coursework. I feel like my real estate and legal studies perspective gives me a lot of like the analytical and argumentative aspects of my education. And then the art history is a little bit more of describing things, trying to place words and a little bit more of like a creative side. And I just love the combination of all of those. So I have a really exciting. course schedule for this coming year. I want to take some fun classes. And I think I just want to like say yes to a lot of things. I'm gonna try to help assist as many professors as I can and speak with as many underclassmen who reach out or feel like I can help with at any point. And all those good things I'm just excited to say yes to. I
speaker-0: I love the idea always of their being analytical and creative and I think that's where so much magic happens as far as creative solutions and looking at problems differently.
speaker-1: Thank you. And I feel like that's what Rock the Street Wall Street has really taught us, you know, to have that STEM background and to pull all those different things in that can really give you a different perspective as an investor.
speaker-0: And you've actually completed several internships during college as well. What have those experiences taught you about the financial industry and have any of them changed your career interests and goals?
speaker-1: Well, a hundred percent. I would say my first foray into finance was of course rock the street. And as I was looking into an internship at a f hedge fund called Ballyasny the summer before I started at Penn. And through that internship, you know, I from seeing what the women at Invesco were doing to like actually placing myself at one of those desks on a trading floor and understanding what equity research meant, digging into company SEC filings and like really understanding what the behind the scenes were of all the companies that I was using in my life every day was just a whole new perspective. And I just loved it. I loved the pace of the work. I loved working with small groups and digging deep to understand problems. And I think that's what my first internship gave me. And so going forward from that experience, I knew that I loved that analytical aspect, but I wanted to do something where I felt like I was more in touch with the consumer. That's how I sort of ended up in real estate. I feel like Real estate essentially is a consumer good. Everything that we do, you know, whether it be a commercial building or like an industrial warehouse that ships an Amazon package to your apartment. All of these things all touch humans. And I feel like that's what really attracted me to real estate. And so I ended up doing a real estate internship after that. Completely fell in love. It combined those two things that I really liked. Had been doing real estate ever since, doing real estate now and hopefully post grad, but we shall see.
speaker-0: It's so great to hear how you find, as many of us do, finance actually impacts the general public. Like it impacts how we have hospitals and roads are built and how there is real estate that we're operating businesses out of or including our apartment buildings and and places that we live. So I think that that relevancy is so important and brings it back to how finance really does play a part in our greater economy and of course plays a part in each of us individually. So when you arrived at Wharton, were there any skills or experiences from Rock the Street Wall Street that helped you feel more prepared than your peers?
speaker-1: Hundred percent. Yes, a hundred percent. And I feel like, you know, I talked about networking a little bit before and I feel like that's one of the main things that I felt more prepared in when I came to Penn. ⁓ going to a business school is like rock the street Wall Street, but every day ⁓ and every hour of the day. And so I go to Penn and I hear all these things like LinkedIn and I hear, you know, what's your resume? Like what are your experiences? And you there are companies that come to campus and people go up to the executives who come in and try to talk with them. And these are things that I feel like Rock the Street has exposed to me from an earlier age. And so, you know, I already had a LinkedIn. My resume had been Proofread by a mentor from Rock the Street prior. So I felt like in those senses, I had a better grasp. And I also understood on the networking component that it wasn't just about trying to collect as many LinkedIn connections as possible or, you know, get as many phone numbers in your book, but it was more about really nurturing those relationships, like the ones that we had with our mentors and our peers from Rock the Street. So I think that was almost even more important than like the shiny resume that I had thanks to Rock the Street.
speaker-0: Networking can feel very intimidating, especially for high school and college students. As we wrap up, what's one message that you'd like every Rockestreet Wall Street student listening today and our listeners as a whole to remember as they think about their own futures?
speaker-1: If there was one thing that I could say to my younger self, I think it would just be to pay more attention to myself and my gut feelings about things. And I mean that not in a spiritual way, but I think of it more as in being in tune with your interests. I think that knowing that finance is a thing out there is so important. And then even more than that, knowing that finance touches so many different aspects, the whole breadth of the human experience and that like You can insert yourself or work in any part of that, whether it be in real estate or a hedge fund or family office, private equity. There are so many different flavors of finance and that internships are one of the many ways where you can try out and see if you like it. Just don't discount the importance of experiencing things for yourself and know that you should trust yourself with if you like something, it'll click.
speaker-0: Marilyn, I hope you've taken a moment to appreciate how much you've accomplished. What advice would you give to current Rockstreet Wall Street students about making the most of the program, building connections, and having the confidence to raise their hands and be involved?
speaker-1: From being in Rock the Street these four years and even beyond, I've seen so many students who treat the program in different ways. And I'll say that one of the best ways to make the most of the program is really to treat it not just as a program that you're participating in, but one that you are a part of and that you're building for yourself. By that I mean raising your hand whenever there's a guest speaker and not being afraid to speak up, because I know sometimes there's this. pressure to impress somebody, especially if they're an executive or a senior who has so many accomplishments in an industry, but coming from a place of genuine curiosity because they understand that you're a high schooler who's just getting started in the field and trying to learn. And I think the people from Rock the Street are so good with this and they understand and they come from a place of mentorship. And that's really how again you foster these genuine connections by raising your hand, coming from a genuine space where you're just trying to learn. And then along with that is just whenever an opportunity arises, you know, if a mentor asks you to maybe catch up through a coffee, definitely follow up on that. Put it in your calendar, put their phone number in your calendar, remind yourself to catch up with them every once in a while and keep up with them. And I think those relationships can really compound because you never know what can come out of it, whether it be a piece of advice that can change your life or an internship opportunity or any one of those things, just make this program something that is truly yours rather than a passive thing.
speaker-0: Well, you even mentioned compounding, which is one of my favorite words. And this is such a full circle moment being able to have you on the podcast and you give back to Rock the Street Wall Street. We've had such a great time talking with you today and really pulling some of those nuggets of information from whenever you were a part of Rock the Street Wall Street and you've really accomplished so much already. We can't wait to see what comes next. We know your story will encourage other students to stretch and grow outside their comfort zones, to stay curious and to work hard.
speaker-1: Thank you, Ashley. Thank you, Rockle Street Wall Street team for everything. I really couldn't be where I am without you all, so I owe it all to you.
speaker-0: Thank you for joining the conversation. Visit Rock the Streetwall Street.com to learn more. Make sure to follow and join us for the next episode. Until next time, let's keep rocking finding.
Tricia Rothschild discusses her career journey and leading organizations through innovation.
Key takeaways
Rothschild reflects on scaling businesses at Morningstar.
The conversation considers leadership during innovation.
She shares advice for the next generation of finance professionals.
About this episode
In this episode of Rocking Finance, Rock The Street, Wall Street CEO Ashley Leftwich speaks with Tricia Rothschild, Interim Chief Executive Officer at CFA Institute about leading organizations through periods of innovation. From helping to scale businesses with more than two decades at Morningstar to leading the CFA Institute, Tricia talks about her career journey, finding your inspiration and advice for the next generation.
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Disclaimer: All financial and investment information contained in this podcast is merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this podcast, you do so at your own risk.
A transcript is not yet available for this episode.
Cary Carbonaro discusses financial literacy, early planning and confidence with money.
Key takeaways
Early planning can support financial goals.
The time value of money is a central topic.
Carbonaro shares practical lessons from her work in wealth advising.
About this episode
In this episode of Rocking Finance, Rock The Street, Wall Street CEO Ashley Leftwich speaks with Cary Carbonaro, wealth advisor and author of Women and Wealth, about the power of financial literacy, early planning and building confidence with money.
Cary shares personal stories and practical advice from her book, showing how students and professionals alike can take control of their finances and plan for the future. From the time value of money to simple ways to build trust, this conversation is packed with insights for anyone looking to grow their financial knowledge.
Background on the Speakers:
Cary Carbonaro
Cary Carbonaro is an award-winning Certified Financial Planner, Managing Wealth Advisor and longtime advocate for women in finance. She is the author of The Money Queen’s Guide and Women and Wealth: A Playbook to Empower Clients and Unlock Their Fortunes. Cary has over 25 years of experience in the industry and has served as a CFP Board Ambassador. Named to Investopedia’s Top 100 Most Influential Financial Advisors, Cary earned Investment News’ DEI Trailblazer of the Year award and was the only woman appointed to the Nasdaq Index Advisory Council in 2024.
Ashley Leftwich
Ashley Leftwich is the CEO of Rock The Street, Wall Street. RTSWS empowers high school and university students by bringing the M in STEM to life through a focus on Financial & Investment fundamentals. The nonprofit provides industry access and guidance to students and alumni, supporting their journey from classrooms to careers while fostering expanded participation in the capital markets. Ashley has a background in mathematics and is committed to helping students gain the skills and confidence to help them succeed in finance and beyond.
Follow us on LinkedIn, Instagram, and Twitter for more career insights.
Disclaimer: All financial and investment information contained in this podcast is merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this podcast, you do so at your own risk.
Listen to the episode
Transcript
Transcript supplied by Riverside; it may contain transcription errors.
speaker-0: Welcome to Rocking Finance, the Rock the Street Wall Street podcast. Real stories, real access, real path into finance. Join us for candid high-impact conversations with industry leaders sharing the insights, experiences, career pivots, and journeys that can help young women advance through the financial industry with great confidence. Rock the Street Wall Street equips high school and university students, especially young women, by bringing the ⁓ and STEM to life through financial and investment fundamentals. We provide direct industry access and guidance supporting students and young professionals on their journeys from classrooms to careers while expanding participation in the capital markets. Through cohort-based learning, mentorship, and individual career connection, we help students build confidence, capabilities, and networks that open doors. Our goal is clear: expand participation in the capital markets and strengthen the future of finance one cohort at a time. Today I'm your host, Ashley Leftwich, CEO of Rockmistry Wall Street. Now let's rock finance. Hi everyone, I'm Ashley Leftwich, CEO of Rock the Street, Wall Street, and I'm so happy to have with me here today Carrie Capanaro. Carrie, you have built such a distinguished career as a CFP professional, an MBA, a managing wealth advisor, and women and wealth ambassador. And you've used that platform to empower clients, especially women, to unlock their fortunes, which is of Powerful message that you share. With over 25 years of experience, you served as a CFP board ambassador, ranked the top five on Investipedia's 100 Most Influential Advisors, won Investment News DEI Trailblazer of the Year Award, and were the sole woman appointed to the NASDAQ Index Advisor Council in twenty twenty four. You are absolutely a role model for our Rock the Street Wall Street students and alum as we work to bring financial and investment fundamentals to life and support young women from classrooms to careers. You're also the author of The Money Queen's Guide, which we have proudly shared with several Rock the Street Wall Street cohorts. And now we're in we're very excited to talk to you about your new book, Women and Wealth of playbook to empower clients and unlock their fortunes. So welcome.
speaker-1: you for having me and actually I am such a big fan of Rock the Street Wall Street and you are actually in the book in for worthy nonprofits helping women so if people want to donate or learn more about Rock the Street it's in the book. So I'm hoping that brings more visibility to your incredible organization.
speaker-0: Well, we are so delighted and proud to have you included. Thank you so much for including us and certainly appreciate your support. So let's go ahead and jump in. You've spent your career serving clients and also helping women gain financial presence. For those that are just starting out, what does learning financial and investment literacy really unlock? How does that knowledge help build women's wealth? And You know, step into leadership around money.
speaker-1: Sure. So well, first of all, I always say money equals power and women need more of both. So it's interesting because women, as I don't know if our audience knows, but women well, they always say that women will inherit the earth, but in literally in this situation, women are going to control two-thirds of the nation's wealth by twenty thirty, which is a short four and a half years away. So we're going from one third of the wealth. To two-thirds of the wealth or $30 trillion, which is literally the same as the GDP of the United States. So we are talking massive numbers. ⁓ it's a lot of convergence of a lot of different things that are happening that is going to make this incredible wealth shift happen. And I don't think the industry is ready for it. ⁓ I don't know if women are ready for it. I'm excited to get them ready for it. ⁓ I think that women in general. They don't talk about money. They don't want to learn about money. They are ⁓ you know, intimidated by it in for the most part. And so in a lot of cases, they think somebody else is gonna take care of it for them. So I believe that step one is just coming into coming into power and learning why you should be responsible for your money is literally step one.
speaker-0: Yeah, we really are up against a cultural issue here. And you're absolutely right about that, the relationship with money. Your new book has such practical and insightful, it's really an insightful guide to the financial professionals and how they can better serve those female clients. So what do you wish more people in financial services industry understood when it comes to working with women and how
speaker-1: So what's interesting is that financial services looks at women definitely as a niche and definitely as really two things: widows and divorced. And that's it. Like as if women are none nothing else but those two things. And as we know, women have a complete life cycle. ⁓ so women have lots of life events, and we're not just divorced or widowed. So first of all, women are not a niche. They are a powerhouse and they are the future. So that's the first thing that I want everybody to know, including women and outside of the industry. So, you know, the book is practical guidelines for how to work with this with this population, right? So what's interesting is my industry, wealth management was built by men for men, and and men have been the primary clients. And so what's worked in the past will not work in the future. Because it's a different clientele. So I am literally giving my industry the playbook to do it right and to how and and how to serve women, you know, the way they want to be served. And so I'm hoping that it changes the industry. That is literally why I wrote the book, because I want women to have a good experience with financial services. And I want more women in the profession and I want women to learn more about money. And I want women to be going to financial planners and have good experiences. So it's like a combination of all these things at once.
speaker-0: So much alignment to what we want as well at Rock the Street Walker Base.
speaker-1: I know.
speaker-0: You write about such actionable strategies as well, back by research. I mean, you didn't just write things down, you really have the research in here as well as real world experience. So can you share one of those practical takeaways from your book that advisors and even our students and other students can start applying right now to better serve women and to really advocate for themselves?
speaker-1: Sure. So it's I feel like that's a two part question. So ⁓ with women, I you know, there's the first thing that women are like turned off by, which is like a simple thing, is to reevaluate your communication with women. Are you resonating with them? Are you speaking their language? They speak a different language. You know, they're not gonna be excited by, you know, beating the S P five hundred and all the sports analogies and you know, all the jargon and all the, you know. impressing them with sharp ratios and alpha betas and all that stuff and their eyes are gonna glaze over and they're gonna be like, what does this mean to me? Like just tell me I'm gonna be okay. So that's number one. Step one is are you communicating with them in a way that they understand? ⁓ the second thing is active listening because and also getting to know her as a person. That is so important to a woman because I always say and obviously I didn't come up with the saying but they don't know how much They don't care how much you know until they know how much you care. Right. And so that's how women are. Like they're not gonna you're not gonna dazzle them with their with your with your jargon and knowledge. They just wanna know that you know them as that you know them and you know them as a person and as a human being. And then they'll listen to your advice of what what to do with their money. You know, so it's it's it's just very different. ⁓ and also, you know, it's all about for for back to the leadership part of of that statement is education and money and knowledge is power. And that's that's it. So the more you have of that, the more money you have, you the more power you have, the more knowledge you have, the more power you have.
speaker-0: Absolutely. And what I really like that you just shared is that piece of really paying attention to what they're saying. I mean, that you're right. I I'm in the Southeast, so we there's sports being talked about all the time, right? What's really interesting that you call out though is that you really need to hear what their goals are. Really really repeat back what it is and and that understanding. And I think that that's so key to building any relationship, right? Especially when in this way. And I also enjoy how you called out for our students and for women overall to really, to really feel confident in that piece of, you know, you have, you can have the education, the knowledge, and all of that really is power. So thank you so much for sharing that.
speaker-1: You're so welcome. And and it's funny because I there's a whole thing in the ch in in the book, but I talk about how confidence is key. And it's it's one of the most important things that you can have as a woman is confidence. I think it's so underrated and it's incredibly important in your career, in your life, in your decision making, in and in all of it.
speaker-0: Couldn't agree more. So between this historic wealth transfer that we know is happening ⁓ and and understar demographics, what should women and families be thinking about, regardless of their current income or wealth? What would you suggest that they really be focusing on? And what's at risk if they don't pay attention?
speaker-1: So what's at risk is saying somebody else is going to take care of this for me. And it's happening, it happens so much I can't even tell you. I mean, because it's what I do for a living. So I get the women calling me when there's a divorce, a death, a disability, a job loss, something that's horrible. And then they come to me. And I always say they come to me when it's raining, not when it's sunshine. And I would love women to come to me when it's sunshining out and everything's great. And then we can go from there and we can learn and teach and grow from that place rather than a place of you know vulnerability and ⁓ crisis. So I feel like my you know, my one of my life's goals is that every woman says, I'm gonna take care of this money thing myself. I'm gonna be responsible for it on my own. ⁓ I'm not gonna let somebody else take care of it, a man, my dad, my husband, my spouse, my friend, my aunt, my uncle, whoever. So not nobody else is taking care of it. It's me. And so that is like the number one thing that I believe in and that I want to practice and teach and preach. ⁓ because guess what? In over 90% of cases, women are gonna be responsible for it themselves anyway. So you might as well learn now. There's no there's no time like today to do it when the sun is shining.
speaker-0: Right. You gotta be a part of the conversation. You gotta know. Yes. ⁓ so you speak it the language of numbers, which we are very much so data people here. Yeah, Rock the Street, Wall Street. With my background, it's actually in mathematics. I
speaker-1: Yes, I know you are.
speaker-0: ⁓ like to secretly call myself a math nerd, but a math lead and all the other pieces. ⁓ so with a background in mathematics, I know how powerful it is when young people understand the value of money and time, ⁓ the time value of money for that matter and what compounding can look like in all those different pieces. If you in your experience, how does financial literacy and seeing the numbers shift behavior?
speaker-1: So it's so incredibly powerful. I always say that compounding interest is literally the eighth wonder of the world. And I can literally show it to you. Like I can I can take an eighteen year old and be like, okay, if you put this away now or this away this much a month or this much a year or this much whatever, this is how much it's gonna be worth when you're sixty-five, or this is gonna and like you know, and blow them away. Like I love doing those numbers for them because it's just, it's, it's literally unbelievable. People d like they cannot even believe it. But it's true. And so what I the other thing I say to people is if what if you could make more money from your assets than you could from your day job? And that's also the power of compounding interest. And people are like, what? And I'm like, 'Cause you know, it's funny, the young young generation on, you know, TikTok or whatever. maybe even Instagram, are, you know, talking about passive income. And I'm like, you don't have any money. How are you going to do passive income? There's you need you need assets to have passive income. So I think it's I think it's kind of funny. But I that's one of my things that I always say, you've made it if you can make more off of your portfolio than you do your day job. And so to show the numbers and how incredible they are, and it as me and you know, it's just math. ⁓ But it is literally incredible.
speaker-0: It is. It's one of those things that I think, ⁓ at the time, whenever I was younger, I thought, ⁓ I can't even spare a single dollar like to put it away. And I absolutely could have. I could have worked. See, that's so there's so much time value, you know, of money that you lose by looking at that.
speaker-1: you a funny story. ⁓ and I I I don't even know if it's in the book or not, but I knew the time value of money at a young age. So here I was twenty two right out of college and all my all my girlfriends were going to ⁓ Mardi Gras in New Orleans and I said, I can't go. And they're like, why not? And I'm like, it's gonna be a thousand dollars. I'm like, that thousand dollars is gonna be worth Two hundred thousand dollars by the time I'm sixty five, I can't justify it. And I didn't go on that vacation. Is that crazy? I mean that's obviously quite extreme, but that's where my head was at.
speaker-0: And it's a great place to be. So we loved the Queen's Money Guide. Our students connected with it. And now this new book builds on that foundation for both rising professionals and those already in the field. So you've shown incredible perseverance throughout your career. What's one lesson that helped you stay true to your values and grow your book business?
speaker-1: Sure. So you know that saying A B C always B closing? Well, I do A B Y always be yourself. And so I think that's the most important thing to do is to be yourself because everybody else has already taken. Be true to yourself. And for me, it's interesting because I have never, every client that I've ever gotten in my entire career. has been self-sourced, meaning organic growth, which is, you know, the the holy grail of financial planning is to is to have organic growth. And every single one of my clients have literally come to me by the law of attraction. So I have never done traditional mo traditional things or ways of getting clients. They have literally all come to me by just holding myself out and and believing in what I do, who I am, speaking my truth and just putting it out in the universe. And that's what's happened. So it's I've been incredibly fortunate.
speaker-0: It's amazing. As we feature your work across our career center and our summer programming, what advice would you offer to young women entering the financial industry today?
speaker-1: Sure, I've got a lot for this. So I would say number one is the be confident. ⁓ be confident in what you know and who you are, and be brave about what you don't. That's really important too. ⁓ always be yourself because why would you be anybody else? Right. find a mentor because this is a difficult profession for women, or at least it was when I was coming up. It hopefully it's gonna get better over time. But We there's lots of great mentorship programs and to be part of be part of them. WLA, which is Women's Leadership Alliance, is one of them that I'm involved with. That's a great mentorship location group. women are the future, so remember that. And so we need you and we want you and you need to stay in the profession because it's going to be, you know, female dominated someday, I believe. ⁓ and then protect your integrity and your reputation because it's the only thing that you have that's yours. And it's really important in this industry. ⁓ say what you know, do what you say and say what you do and you know, just always follow through with ⁓ everything that you're going to do with clients and with anybody ⁓ any other professionals.
speaker-0: That was so interesting what you just shared about keeping your word. Can you give us an example of that?
speaker-1: Sure. So if you tell a client, I'm going to get back with you within 24 hours, you better get back to them within 24 hours. Rich, who works for me for 16 years and I have a rule that our clients we are completely responsive and nobody we have a rule that you will hear from us within 24 hours. Usually it's five minutes, but sometimes it takes us a little bit longer, but it's never more than 24 hours. And we've had clients reach out to us. Who said, We ha I haven't heard back from you and it's more than 24 hours. Something, something must be wrong. And then I say, I didn't get any message from you. And then and then I'm like, where did you send it? And then we find out they sent it to an old email that we don't work at anymore. And I'm like, this is why you didn't hear from us within 24 hours, because we never got the message. So, but my c our clients know that that's how responsive we are and they're never gonna have to wait. And if something is so if they don't hear from us, something is wrong. So it's great that we have that. ⁓ expectation and that clients expect it from us because we do what we say and that's what you always have to do. And and then you can over deliver too, but at least you're gonna do exactly what you say, if not more.
speaker-0: you're how you're really focusing on the fact that that builds integrity, right? And it deepens the relationship with trust. And so yes, that is amazing. And I love the idea of over-delivering and and making that reach out in less than 24 hours if possible. And so that's that's a wonderful practice and something that really does deepen those relationships. Well Carrie, it has been a joy. You are absolutely incredible. We are delighted about your new book. Thank you again for mentioning Rock the Street Wall Street. And we so look forward to continuing our engagements together and involving our students in the lab.
speaker-1: Awesome, thank you so much for having me and I'm such a big supporter of your organization.
speaker-0: Thank you. Thank you for joining the conversation. Visit Rock the Streetwall Street.com to learn more. Make sure to follow and join us for the next episode. Until next time, let's keep rocking finance.
Kristie Feinberg reflects on leadership, lessons learned and looking forward.
Key takeaways
Leadership and resilience shape Feinberg's reflections.
Mentorship can support professional growth.
Creating access and opportunity for the next generation is a central theme.
About this episode
Join RTSWS CEO Ashley Leftwich as she speaks to 2026 Rock The Street, Wall Street’s Woman of the Year, Kristie Feinberg. Kristie is the President and CEO of Manulife John Hancock Investments with a career and leadership journey that is inspiring and deeply grounded in purpose.
In this episode of Rocking Finance, Kristie shares thoughtful reflections on the Three L’s: Leadership, Lessons Learned & Looking Forward. She dives into leadership, resilience, mentorship, as well as the importance of creating access and opportunity for the next generation.
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Transcript
Transcript supplied by Riverside; it may contain transcription errors.
speaker-0: Welcome to Rocking Finance, the Rock the Street Wall Street podcast, real stories, real access, real paths into finance. Join us for candid high impact conversations with industry leaders sharing the insights, experiences, group events and journeys that can help young women advance through the financial industry with great confidence. Rock the Street Wall Street equips high school and university students, especially young women by bringing the ⁓ in STEM to life through financial and investment fundamentals. We provide direct industry access and guidance supporting students and young professionals on their journeys from classrooms to careers while expanding participation in the capital markets. Through cohort-based learning, mentorship, and individual career connection, we help students build confidence, capabilities, and networks that open doors. Our goal is clear. Expand participation in the capital markets and strengthen the future of finance, one cohort at a time. I'm Ashley Leftwich, CEO of Rock the Street Wall Street, and today's conversation is a particularly meaningful one. Recently, during our Women of the Year event, I was joined by honoree Christy Feinberg, president and CEO of ManyLive John Hancock Investments, for a fireside chat geared towards students, volunteers, and corporate leaders who were in attendance. And today, I'm delighted to share with you as well. Christy's leadership journey is inspiring and deeply grounded in purpose. Throughout our conversation, she shares thoughtful reflections on leadership, resilience, mentorship, as well as the importance of creating access and opportunity for the next generation of strong teams. What made this discussion especially powerful were the Rock Street, Wall Street students in the room. Many were hearing firsthand how someone at the highest levels of the financial industry navigated challenges, was the first in her family to attend college and stayed focused on results and impact. We're grateful to Christy to the entire team at Many Life John Hancock Investments and to all the volunteers and supporters who continue helping us empower students from classrooms to careers. I hope you enjoy this inspiring conversation with Christy. Now let's rock finance.
speaker-1: Could not be a more incredible cause and I'm so honored to be able to have this award and to sit here with and speak with Ashley. But more importantly just to connect with all of you. I think it's absolutely fabulous and seeing the students has been probably my favorite thing.
speaker-0: We are joined by cohorts, as you mentioned, from three local schools that you had the opportunity to speak to right before. So we're going to build on that earlier conversation. Would you share with us learning that stayed with you?
speaker-1: wasn't entirely sure what I wanted to do. And there is a big portion of just understanding that these early days are wonderful time to start to explore and to really understand how the fact that you might not know how everything is going to play out, that's completely OK. I think over time, I've come to realize is that the future is always uncertain, whether you're sitting in your seat or whether you're sitting in my seat. I can honestly say that I can't predict what's going to happen over the next few years and certainly couldn't be able to do that in my early 20s. But the one thing that I would say is choosing to go on to college, even underneath all that uncertainty and leaning in, was probably one of the best decisions that I've ever made. I actually was the first person in my family to go to college, and it was something that was very nerve-racking. I ended up going to college in my hometown. In fact, almost right across the street from my high school. It took me five years to graduate because I switched majors twice and I worked full time. So when you really say that's a time to just explore and think about what you like and what you don't like is something that resonated with me. I think understanding that you can make decisions and you can continue to revise or think about things in a different way, that's been something that's really lasted with me all the way through my early days of college.
speaker-0: And you shared more of your incredible journey with the students ahead of time. And I just love to hear that you actually stayed nearby for college. You actually moved away and then realized that I would have liked to have been closer to my family and moved back. Those different journeys makes us who we are. And it's interesting how all those values still pull through to how we live our everyday life. Thinking back to that early career, what were some of the biggest influences on you? I know that I've had some mentors that knew that they were my mentors and didn't know that they were my mentors.
speaker-1: I would say, listen, the two biggest influences are people and education. We're all surrounded by people and who we surround ourselves matters. I think it's incredibly important to find a mentor and one that will give you that real hard feedback. I have a mentor still to this day for probably the past 25 years and he's been one that has probably made me look in the mirror more times than I care to remember.
speaker-0: At the end of the day.
speaker-1: to say, are you making the right decision? Are you pushing yourself hard enough? Are you doing the things that you really want to be able to do? Are you stretching yourself? And are you comfortable? I think that that matters. I also think it matters to have a mentor within your industry and outside of your industry to give you little bit of just different perspective. And not just one, but a few different mentors. And then who you surround yourself with, because it really does influence how you think. and how you look at life. That's a huge kind of contributor in the early days. And then the last thing I say is education. As we talked about earlier, I didn't actually plan on going into finance. But once I did realize that that was the industry that I had passion for and the industry I wanted to stay in, I leaned into it and learned as much about the industry as I possibly could. And that certainly has helped me out over the years.
speaker-0: I think that regardless of whether they are an official mentor or not, they challenge your thinking. And that challenge is what offers you not only different perspective, but offers you to have that inner reflection and that intentionality that you mentioned earlier as well. So you've served as treasurer, as CFO, and now a CEO. What have you carried forward from those experiences that you possibly still use today?
speaker-1: Probably the most important thing, roles change and what you're focused on depending upon your priorities in any given year change. But the one thing that is the most important and resonates with me across everything is your teams, your people, who you have working with you, how incredibly important it is to ensure that you have the right talent and not just the right talent, but sitting in the right seats. ⁓ Doesn't matter where you work or what role you have, your team. is going to define and be the biggest contributor to the success. And it's not just about the talent, because you can have incredibly talented people all sitting in one room, but it's also how you work together. What you do and how you do it, I would argue how you do it and how you work together is probably even more important than anything else, because that is really truly what drives the difference. I read a book years ago called The Happiness Advantage. and how you can get more onto your team and be more productive the happier your team is and whether that's because they're engaged in what they like doing or that they're interested in their work or they like who they're working with, it can make all the difference in the world. And the competitive advantage that organizations have are the ones that build the best teams.
speaker-0: Members of the team that have different perspectives as well than ourselves. And I think that those different areas that we're able to put team members into and then being in those right seats, as you mentioned, is not only what makes a great team, but how we actually achieve goals and how we're able to have more collaboration within our, within spaces. Yeah.
speaker-1: I mean, listen, and I would argue as well that it's not any one role in an organization. It's all roles in an organization that really need to come together. think about, I can't believe I would do a sporting analogy. I have my two boys here. But you think about a sports team, and every single player on the team has a role. And so that is the same within any organization or anything else. It's the people you have working with you and working together that really makes the difference.
speaker-0: So one thing that we often hear is the importance of asking questions and challenging yourself and being willing to make mistakes and continue learning. So how has that shown up in your leadership? We've heard a lot about your leadership and I…
speaker-1: I will say that for my team members or even my family, know, well, first of all, I believe in asking as many possible questions as you can. If you don't know the answer, there is no way you're going to find that answer unless you ask the question. And even if you think the answer, still ask the question because you're probably going to learn more or learn from somebody else. In terms of making mistakes, it's probably the one thing that you want to become the most comfortable with. I say all the time, if I'm not stubbing my toe every single day, I'm not pushing myself hard enough. You can stub your toe sometimes, it hurts a little, and you can stub your toe and it drops you to your knees. It's probably one the most painful things in that moment. But if you're not out there pushing yourself and trying new things every single day, then you're not really trying to reach your full capacity. But in order to do that, you have to be willing to make mistakes, and it's OK. Every single person in this room makes mistakes. And so just learning from them and course correcting as quickly as possible is what really matters.
speaker-0: for the students in the room, what advice would you give them as they begin to think about their own paths?
speaker-1: I would say, we talked about it a little bit before about betting on yourself. I would say get comfortable with sort of not knowing, not everybody knows, and really understanding that it's what you bring to the table, it's how you show up, it's what you put out there that's gonna be probably one of the biggest determinations of what you receive back. And that's showing up and working hard, that's knowing your job better than others, that's helping people out when they need help. but really leaning in to kind of all the different possibilities and not being afraid of them, right? Push yourself beyond what you think is possible. Think about all the different things that you want to try and go for it because you only get one shot at this. So really you want to try and do absolutely everything you can to achieve the goals and see what you can
speaker-0: do. Yeah, I think one of the pieces that we hear time and time again as well is that you belong in the industry and you're welcome here. As you see with all these industry professionals, this is the room that you belong in. Thank you, Christy, for such a thoughtful conversation. And thanks to all of our Rocking Finance podcast listeners for being part of the community. We have many more great conversations ahead with leaders across finance, investing, and the capital markets. each focused on their experience of building knowledge, access and networks. Visit rockthestreetwallstreet.com and be sure to subscribe. Until next time, let's keep rocking finance.
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