Navigating Culture Shifts and Accountability: Claudia Glover’s Diary of a Financial Advisor

This is Eric Brotman, the host of Don't Retire Graduate, a podcast that asks you what you want to be when you grow up so you can graduate into retirement with a purpose and a passion. Welcome to our Diary of a Financial Advisor segment where we interview financial advisors about their professional journeys and their passion for helping others succeed. Today I'm pleased to be joined by my fellow BFGer, Claudia Glover, who is the chair of our investment committee, a CFP with a variety of designations and credentials. And I'm glad you're here. Thanks for being here. Glad to be here.

Thanks, Eric.

So I want to start by saying that this is in fact your maiden voyage, so we're going to go easy on you. It's your first time, so I'm not going to ask you any questions that are designed to really rock the boat. But we are going to have a little fun today. And I want to start with what was your journey into being a financial advisor? Because we all have totally different paths. So what was your path?

Well, it started really growing up and watching. I don't know if my dad knows this, but just watching everything he went through to be able to provide what we had as a family. My parents immigrated to this country when I was very young and just watching him be able to manage, really save in a very disciplined way was really impressive to me. So when I got out of college, I knew I wanted to be in finance. And being an advisor and being able to help guide people through their own journeys is really what drives me.

And none of us have a linear path to get where we are. So your world prior to being at BFG had a couple of different stops on it. Tell us a little bit about that.

Yeah, a little bit. So I, you know, I started off like most people as, as an associate, just kind of helping a team of advisors and realized how much there really was to learn within the industry. So I kind of decided to, to go a number of different directions. I worked on a fixed income trading desk where I learned about the importance of interest rates and inflation and the Fed. I ended up working after that with the advisory services team, with our chief Investment officer and helping to manage portfolios. By the end of my time at Wells Fargo, I was managing a growth and income internally managed sma. So I have a ton of experience, but really the reason I did all that was to learn as much as I could so that when I'm having conversations with clients, I know what I'm talking about.

So when you say SMA for our audience, who doesn't know what an SMA is? That's a separately managed account. You are essentially managing a portfolio for a large group of clients, correct?

Correct, yes. So, yeah, clients could buy into the portfolio. It was my responsibility to do my research, vet the position, make sure it met the investment policy statement of the portfolio, and also support the financial advisors throughout the company and understanding what we were doing and why we were doing it.

So you went from a very large institution to what one of our shareholders once dubbed a rinky dink organization, which was hurtful, but she had also come from a very large organization. And I'm gonna, I'm making sure that I call her out on that when she's in this hot seat. But you went from a organization with tens of thousands of people to one with 20 something. What was that like for you?

Was a little bit of a culture change, I will say. The one nice thing at my previous position was I was working with a team. So from that perspective, it was similar. But the way that we get to know our clients, the way that we are able to really understand the ins and outs of their financial world is really only something we dreamed of doing at Wells Fargo. You know, this idea of financial planning and doing due diligence and getting to know clients was, was something we talked about, but really difficult to do at such a large size. So it's, it's really been nice.

So if I had to put you on the spot, which I can't wait to do, and I had to ask you, what is your why? Why do you do this for a living? Why is this the way you want to spend this chapter of your adult life? What does that look like?

Well, my why is, is really watching people make it through those milestones. So, you know, I always say, you know, we have a number of different meetings every week, but having those meetings with people when they finally retire or finally pay that last college tuition payment is. It's really such a. An emotional moment for the person going through that and being able to be the one that got them through that journey. I mean, that's, that's my why the, the everyday is fun, but those, those big aha moments, and you know that that's why I do it. It just keeps. It drives me every day.

So Claudia won't admit this, but I'm going to once again put her on the spot because it's fun. But anytime there's a project at bfg, she's voluntold that we need her in that project. Like, I've never seen anyone be on every committee and subcommittee of the subcommittees than you have. And first of all, I thank you for, for all those hats that you wear. And second of all, I apologize for all those hats that you wear. Um, but. But your voice is just such an important one in the, in the room because of not only your institutional experience, but also your. The thoughtful nature of the way that you.

That you digest information and that you're. You're less likely to make a knee jerk reaction or to come up with a. A decision prematurely. You really do sort of take all of that into account. And I imagine that's partly why clients enjoy working with you, because you're, you're not there to sort of bark orders, you're there to listen and to. And to sort of assimilate all of. And, and integrate it. So that was not so much to put you on the spot, but to compliment you.

So I understand BFG has a program for accountability, and every person who works in the organization has an accountability partner who sort of holds their feet to the fire. Can you talk a little bit about the accountability partner, the long straw or short straw you drew for that and how that's been a part of your journey?

Yeah, it's been a big part of this year. Eric and I have the pleasure of being accountability partners. I think one of the things that we talked about at the beginning of the year was holding ourselves accountable to not only personal goals and professional goals, but we meet every month and talk about that. And it really has been helpful to. Sometimes I think we tend to focus too much on one or two things and lose sight of the big picture. I think the accountability meetings have been really helpful.

Well, I will confess they've been more helpful for me, maybe, than they've been for you, because I've gotten a whole lot out of that. So we're short on time. I do want to take a moment to talk about the impact that financial wellness and the financial wellness programs that we're working on have played a role not only in your professional journey, but in the financial lives of so many people we've touched. Can you just chat about that for a moment before we close?

Yeah, absolutely. So through the financial wellness programs, we really get to, you know, touch more people. It's working with companies and their employees and helping them to understand their. Their benefits. And, you know, we. We spend 45 minutes to an hour with people talking to them about anything. And we recently just did one in D.C. a couple of weeks ago.

And the number of different people and different stories that I really got to work with was exciting. So I think it's. It's an incredible way to be able to spread the word about financial planning and, you know, really help people where they need it the most at that time.

Well, we are. We are going to close the next time you're on Diary of a Financial Advisor. As a part of Don't Retire Graduate, I'm going to ask you for some stories, obviously anonymous stories, but things that you've seen that are either really big successes and wins or really swings and misses. And. And so, you know, as. As we build our diary, we're going to start with these introductions, introduce all the various advisors and members of the team. And you. You were first.

You. I don't know if you volunteered to be first or if this just happened. You did not.

I'm always volunteered.

Well, I appreciate it, Claudia. Thank you very, very much for. For being first and well done.

Thanks.

Want to thank all of you for listening today. If you enjoy our show, please subscribe, Leave a rating on your favorite podcast platform and share it with your friends and family so they can join you on your journey to financial freedom. If you'd like to send us a topic or idea we can discuss in a future episode of Don't Retire Graduate, please post it on our Facebook page or tweet us at Brotman Planning. We'll be back next week with another engaging guest and in two weeks on the hot seat with another entry in the Diary of a Financial Advisor. For now, this is your host, Eric Brotman, saying Don't Retire Graduate.

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