Money Manager and Investment Advisor

Laurie Itkin started her career climbing the corporate ladder, then decided to launch her own business based on her passion for investing in the stock market. “I launched The Options Lady to inspire, educate and empower women to become successful self-directed investors in the stock and options market,” she says. “I have two facets of my job. Through my coaching business, The Options Lady, I teach clients how to trade in self-directed accounts. I am also a licensed investment advisor and manage clients' money if they don't have the time or inclination to manage it themselves,” Itkin says.

Itkin wants to encourage women to learn about the stock market and not be afraid of it because she knows so many professional women, even lawyers, doctors and corporate executives, who have their money sitting in a money market account earning minimal interest simply because they don’t know what to do with it. One advantage for women working in her field, Itkin says, is that “recent studies show that women make better traders than men because we are more risk-averse, do our research before we jump in and follow the rules.”

There are many things she likes about her job that other women may find similarly appealing: “My practice focuses on women and that means I'm involved in networking, community and charitable activities with other women,” Itkin says. And in addition to the satisfaction she says she gets from helping women learn how to generate monthly income by writing covered calls and from inspiring women to take control of their financial futures, Itkin enjoys having a job where no one tells her she needs to sit at a desk from nine to five. “Many women would love having a job where they spend time socializing with other women and have flexibility to work out, pick up the kids and prepare dinner,” she says.

The downside is that “lots of women feel uncomfortable working a room, so building a client base might be difficult for them,” says Itkin. But, she says, “I feel very comfortable entering a room full of people I don't know and making new connections.”

Financial Planner
Zaneilia Harris is a fee-only financial planner and the owner and president of her firm, Harris and Harris Wealth Management. She develops portfolios for clients that position their assets for changing market conditions so they don’t need to constantly monitor their investments or the market.

Like Zing, Harris sees opportunities in her profession for women to differentiate themselves from men in the way women approach client interactions.

“I feel that we may listen more to our clients’ needs and not take the stance of dictating a choice to clients,” Harris says. “We may exhibit more of the softer qualities, such as compassion, understanding, patience and empathy, which can be key when clients have been through a devastating event.”

Female financial planners can face challenges in their work, however. Exhibiting softer traits can make women be considered “too soft,” Harris says. What’s more, “I feel being in a male-dominated environment can be intimidating. You have to have a thick skin and handle rejection well,” Harris says, and you cannot allow others to force their opinions on you. “When you feel you are right, stick to your guns, especially when you have the research behind you.”

The challenges can pay off. “I feel being a financial planner is rewarding in ways greater than just money. It has allowed me the flexibility to be available for my daughter and family. Also, I get to help people that need me,” Harris says. “Lastly, I get to establish my own terms for my business and its direction. I am not saying it is not hard work, because it is. But there is satisfaction knowing you are in the right place doing what you enjoy.”

The Bottom Line
Although finance has traditionally been a male-dominated field, women can not only excel and stand out but also strike the right work-life balance in financial careers ranging from asset and investment advice and management to financial planning. “I think there are huge opportunities for women to work in the financial field if they are smart, self-motivated, analytical and empathic,” Itkin says. “Women think differently about money than men. If you can build trust and credibility with potential female clients by listening to their needs and taking the time to educate them, they will become lifelong loyal clients.”