In August, we hosted our 2nd Annual Fashion + Finance Event to bring together women from many different parts of our firm’s community to talk about everything from transitioning a business suit into a dinner ‘fit - to why people in wealth management talk about women so much. How did we know that these topics would pair so well together? Last year during our inaugural event, we talked about how fashion – like money – can give you confidence. The way you can feel when you know that you look good as you enter a room is the same self-assurance you can have when you have your financial house in order. This is true of both women and men.
This year we partnered with Tootsie’s, which wowed us all with a private fashion show of the latest fall trends, especially for working women and busy moms that tend to dress for multiple events in one day. Like our firm, Tootsie’s is located in the heart of Dallas in Preston Center and is hyper-focused on outstanding personal service. Cindy Pierce and her team of stylists helped our fashionista attendees find pieces that worked for their wardrobes and their specific lifestyle – similar to the work our team does when we design a financial plan around a new client, her business, and her family.
Our message to the Fashion + Finance audience was focused on the current conversation around women and money:
- Margot Robbie stands to make $50M from her work in the recent Barbie That success sets her apart and sets her up – sets her apart from other actor / producers and sets her up for future projects. It reminds us of the role that money plays for all people:
Money = Power = Choice = Opportunity
- This 2020 McKinsey study that is commonly cited by our industry forecasts that $30T will be controlled by women by 2030. This is a massive amount of capital and will have a massive gravitational pull. This – along with the very low percentage of females in the industry - is why the wealth management industry talks about women so often. Many firms are not prepared for the transition that will inevitably come from such a high amount of demand to serve women. Thankfully, we are.
- We also asked our attendees to start a money conversation with a female in their lives over the coming weeks – to make it cool, to make it tangible, and to bring to life why we all need to have confidence in our money decisions. We challenge you to do the same.
We are eager to disrupt some norms in wealth management that don’t serve the industry or its clients well. We help our clients to use their money to have the lives they want – the lives they want, not the product someone wants to sell. We thrive on transparency, helping our smart clients gain confidence, and the human side of money decisions. If you know someone who might want to join our team, or be served by our team as a client, please ask them to email us at email@example.com. We’re just getting started.
And for those of you who need a stylist or a few new pieces for fall, we invite you to visit our friends at Tootsies.
Debra Brennan Tagg is a CERTIFIED FINANCIAL PLANNER™ Professional and the creator of the DBT360 Financial Plan, a proprietary program that helps her clients prioritize their goals, leverage their resources, and address their risks. She is the president of BFS Advisory Group and teaches the public and the financial services industry about the importance of values-based financial planning and investor education.