Tag Archive for: Op-Ed

Celebrating PRIDE Month: Reflections by Britt Brown

Britt BrownGrowing up in the Bronx, just a mile from the last stop on the 1 train by Van Cortlandt Park, I called a yellow house on the edge of Riverdale Country School home. My father’s role as the 24/7 maintenance and security guy at the school afforded me the opportunity to attend one of the best schools in the country. My dad, with his infectious smile and unparalleled work ethic, has always been my role model. At 66, he still works tirelessly, not only at his full-time job but also shoveling snow and remodeling kitchens throughout Riverdale.

Despite the advantages my father’s sacrifices provided, it was clear early on that I was different from my affluent classmates. I distinctly remember struggling to read aloud in kindergarten and my mother’s stern advice: “You need to figure this out or you will be left behind.” Harsh as it may seem to tell a six-year-old, that message instilled in me a resilience and determination that carried me through my academic and athletic endeavors. At Riverdale, I learned to be my own advocate and to outwork everyone in the room. This mindset propelled me through my collegiate athletic career, playing lacrosse while juggling various work-study jobs. Every challenge I faced was met with the support of my team, lifting me up before I could succumb to doubts.

After college, I chose to pursue a job in Charlotte, NC, instead of New York City like many of my peers. My parents were concerned that I would encounter challenges as a masculine-presenting lesbian of color living in the South. The reality is that I “come out” every day simply by being myself and this daily reality initially made me apprehensive about finding a supportive community. However, my experiences at Riverdale and Penn had prepared me well. I had plenty of ups and downs in my athletic career, but every single time, it was the team that lifted me. Joining the Asset Backed Finance Sales and Trading team at Wells Fargo, I found colleagues who, despite our different backgrounds, took me under their wings and guided me as they would any new analyst or associate. Finding a team whether it was on the field or in the office has spurred inspiration, great collaboration, and helped me sustain my career growth.

Reflecting on my seven years at the firm, I attribute my success so far to three key factors:

  1. Being Authentic and Team-Oriented: Embracing my true self has been crucial. My masculine presentation and she/her pronouns are part of who I am. Honesty about my identity has been vital for my success and my ability to support others. Leading with a team-oriented approach helps me navigate diverse environments and achieve common goals.
  2. Finding Mentors and Sponsors: It’s very clear to me that I wouldn’t be where I am without a team of mentors and sponsors along the way. The advice, time, and candor they’ve shared has allowed me to navigate my career to what where I want it to be. More importantly, the individuals who acted as a sponsor by advocating for me in a room that I wasn’t in. It has been useful to engage with all types of people. For example, a majority of the mentors that have given me great advice usually do not look like me or share a similar background. This has truly allowed me to see, hear, and witness situations in various dimensions guiding my decisions on what to do with my career. My mentors have asked me challenging questions like, “What’s your purpose,” “What truly makes you happy,” “Where do you think you’ll thrive and where do you think you’ll fail.” They’ve also imparted invaluable life advice. I’ve not only listened to that advice, but also integrated it into my life.
  3. Constant Learning and Growth: My passion for learning keeps me engaged and motivated. Whether through reading, playing board games, building Lego structures, or working out, I am always seeking to improve myself. I’m always trying to learn things whether it’s playing around on Codecademy, reading about the “chip war,” or learning new training techniques for a Spartan race. Learning something new engages me daily to be a better person and be myself. Continuous learning has been a cornerstone of my personal and professional development.

As I look ahead, I am excited to continue learning from my peers and mentors. On a personal note, I am thrilled to be expecting my first child with my wife, Kate, in July. This new chapter in my life brings a heightened sense of responsibility to pay it forward like so many folks have for me. I hope to help mentor new employees and encourage them to be their authentic selves at work. I hope to help recruit more diverse individuals to the firm, so we have different perspectives up and down the ranks. Also, I look forward to engaging more in the community with charities in Charlotte like Time Out Youth, the largest LGBTQ+ youth organization in Charlotte, and continue my work with CityLax, the largest PSAL lacrosse non-profit in NYC.

By Britt Brown, Senior Product Manager in the Structured Products Group of Wells Fargo’s Corporate and Investment Banking.

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OP-ED: Be an LGBTQ Ally to Help Your Daughter or Son Come Out

By Katherine Dean, head of Family Dynamics, Wells Fargo Private Bank

Have you ever worried about a child?

Wondering what’s on their mind and whether they are doing OK? And how things are going with school and socially for them? Any parent, as well as grandparents, aunts, and uncles, would most likely answer “yes,” especially as a child becomes a young adult.

My husband and I certainly don’t have this whole parenting thing figured out. What we have stressed with our 10-year-old son and almost-15-year-old daughter is the importance of two-way communication. And we’ve been intentional in saying repeatedly, “We love you. There’s nothing you can tell us that will ever change that.”

Giving Our Daughter a Safe Outlet for Her Feelings

During our daughter Grace’s eighth-grade year, we started to pick up on small things that made us wonder if she was gay. We knew it wasn’t our place to ask; we needed to wait until she was ready and comfortable to tell us that she was LGBTQ, and to see if that was even the case.

We had just decided to connect her with a therapist so she would have a confidential outlet to share her feelings and thoughts with a neutral third party. This point of connection was about navigating life as a teen, entering high school, and dealing with new social situations. As I remember from my own teen years, it’s a tough transition!

Grace’s Coming-Out Story

I’ll never forget the day. I was at work when I received a text message from my daughter asking if she could talk to us later. We hit a “parenting stroke of luck.” This was a moment of parent PRIDE here as this was a signal we were doing something right!

That evening, we pulled up with her privately in her room and asked what she wanted to talk about. She struggled to say anything and kept trying to get her words out, but they wouldn’t come. We could tell this wasn’t easy for her, but we continued to encourage her to share. She finally asked if she could write it down.

She proceeded to write on a scrap of paper: “I AM GAY.” Instantly, we could see her relief in sharing this news. We immediately got up and hugged her long and hard. We talked about how much we loved her and how thrilled we were that she decided to tell us, and we asked if she needed us to do anything to support her.

Right away, she shared her one request. She asked if our entire family could march in the 2019 San Francisco Pride Parade. Already involved in PFLAG (an organization for family, friends, and allies of LGBTQ people), I made a call to get our family added to the parade roster.

Celebrating Pride as a Family

Our family of four, plus our daughter’s best friend, met up with PFLAG in San Francisco for the big day. Grace wore a Pride flag proudly as a cape, and the rest of us adorned ourselves with Pride gear ranging from flags to beads to hats.

When we arrived, we were greeted by amazing floats, crowds galore, and a very positive vibe. It was inspiring to be surrounded by the strength and beauty of so many.

As the parade started, our daughter, unplanned, decided to carry the PFLAG banner in the front of our group, along with a few other girls around the same age. Our son donned a massive head-to-toe sign across the front of his body that read: “I am a brother.” Moving forward, the emotion overtook me as the crowds cheered and clapped, leaving me teary-eyed and so appreciative of the LGBTQ community’s acceptance of its newest member.

I left that day incredibly full of PRIDE. I was grateful that my daughter trusted us to share her true self and that, as a family, we were able to experience this amazing moment together. I thank all those who came before her for your hard work. The next generation is loud and proud and will continue to carry that work forward, alongside with their families and friends.

Sharing my own experience

Believe it or not, I attribute much of our parenting success to my job. At Wells Fargo, I am grateful to be a part of the Family Dynamics team. We focus on helping families flourish beyond their finances — we help them build communication and trust, prepare future generations, and create shared family purpose.

In my role, I often engage with families having communication challenges. I’m not sure these families realize it, but when I help them, they help me. I strongly believe that we all learn from one another and that everyone has important perspectives to share. I’m proud to be able to give back by sharing my own personal experiences.

To My Daughter and to the LGBTQ Community:

I am a mother. I am a friend. I am your ally. I will always be there for you. You are loved.

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OP-ED: The Empowerment of Women Starts With All of Us

Lisa Featherngillby Lisa Featherngill, Head of Legacy and Wealth Planning, Abbot Downing

Empowerment can come in many forms.

According to Webster’s, the definition of empowerment is “granting of power, right or authority to perform various acts and duties or the state of having the power, right or authority to do something.”

So, empowerment can come from inside or it can be given to someone. In my experience, being empowered as a young girl helped me become stronger and more confident as a woman. I want to share my story with you to hopefully inspire you to empower others.

I was fortunate that my hard working, successful single mother never discouraged me from ‘traditional’ male subjects. She never graduated from high school and yet she was working at the White House and traveling with the Press Corps and Presidents Johnson and Nixon. She was a role model for being strong and confident and always told me that I could do whatever I want in life.

Growing up I was surrounded by women like Helen Thomas, the iconic correspondent from Associated Press, Gloria Steinem who had just started Ms. Magazine and was a leader in the women’s liberation movement. These women were powerful, visible and impactful. They were trail blazers who did not hesitate to follow their passion for change despite considerable obstacles. I practiced what I observed. As a teenager and young adult, I was told I was “rebel without a pause.” I was always eager to channel my energy into exploring new opportunities.

In college, I thought that I wanted to be a photo-journalist. Then my camera was stolen on a trip to Key West before the fall semester started, so I decided to try accounting. To my surprise, I loved it. I took the CPA exam as soon as I finished finals and a week later went to work at Arthur Andersen. Although 50% of the new hires were women, there weren’t many women in the senior ranks. It was a tough environment and even tougher as a woman. It was at Arthur Andersen that I found my first supporter in my professional career, a man named David, who was a partner. He told me that he expected brilliance from me. Through hard work, constructive feedback and opportunities I was promoted and quickly learned that with more visibility, there were new and higher barriers to overcome. David took a chance sponsoring me, a term that was not used that time. He provided me space to grow, to build my confidence and recognize my contributions to the firm. Although he was incredibly tough, I knew he had my back.

Through my experience with David and Arthur Andersen, I knew I had added responsibility to pay it forward to create opportunities and a more inclusive environment for women in the workplace. One small example occurred during a cold winter one year, back when women didn’t wear pants to work. I challenged the office Managing Partner and said “I’m going to wear pants to work tomorrow” and he replied, “fine, I’m going to wear a skirt.” That day my simple act of defiance helped drive change that was another stepping stone to improving the environment for women in our office.

I love to find great talent and the planning field has an unusually high percentage of women. I have been fortunate to help other women find opportunities that enable them to grow professionally and personally. Support can be as simple as encouragement, inviting someone to a conversation, or creating room from them to innovate. One of the members of my team was dedicated to client service, but I saw so much potential in her to lead others and share her voice more prominently. I coached her for a few years and provided her more exposure when I expanded her role from a regional to national level. She has also coached me to understand different perspectives. I have seen her flourish through the relationships she has built with others and helped her grow in confidence so she can someday step into my shoes.

Being available to talk to women in the finance field has been very rewarding. Listening to their experiences and needs has allowed me to adapt my management style. I have made sure that my teams have flexible work schedules and resources available to them so they can do their best work while still managing their personal lives. Ironically, working from home during the COVID-19 virus has shown other leaders that we can be effective with flexible work schedules and working from home.

We have a unique opportunity and responsibility to empower other women. According to a recent presentation at the Abbot Downing Women’s Summit, women have not been able to break a glass ceiling to get past 20% of women in leadership positions. Currently, 60% of undergraduate and graduate degrees are awarded to women. So, there are women entering the workforce. However, the conundrum to me, is that they still aren’t getting into the leadership positions at the same rate as men. It is amazing to me that 48 years after the first edition of Ms. Magazine and seven years after the book “Lean In” was published, women aren’t in more leadership roles. To quote Ruth Bader Ginsburg, “Women belong in all places where decisions are being made. It shouldn’t be that women are the exception.”

If this is going to change, both the women in the 20% and men in leadership roles need to empower the 80% of women beneath the glass ceiling. Women and men need to recognize and support the women who show the desire and talent for leadership. I am fortunate to currently report to a man who provides this support for me and other women in the company.

Empowerment can happen at work or it can happen at home. As Gloria Steinem said, “The best way for us to cultivate fearlessness in our daughters and other young women is by example. If they see their mothers and other women in their lives going forward, despite fear, they’ll know it’s possible.”

I encourage us all to invest time into the change needed. We are all in a position of influence.

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Op-Ed: From the Cold War to COVID-19: What I’ve Learned from My Front Row Seat

Lisa GableBy Lisa Gable

I’ve been fortunate to have had a front row seat at major inflection points in history, beginning with my time at the Reagan Defense Department during the final days of the Cold War.

I had actually transferred to the White House just a few months prior to Gorbachev’s 1987 visit. Later, I joined Intel Corporation and had a chance to work on a part of the Intel Inside® program, which changed consumer tech purchasing habits forever, leading to Intel’s dominant semiconductor market share in the 90s. My husband and I enjoyed the dot-com boom and thankfully survived the bust.

In 2004-2005, working closely with the auto industry, I hosted a hallmark Nagoya meeting between Toyota patriarch Dr. Shoichiro Toyoda and General Motors CEO Rick Wagoner. Our building was surrounded by hundreds of Japanese paparazzi as the companies battled it out for top global sales position with the Japanese automaker maintaining the edge. And in 2009, as obesity was emerging as a global health risk, I worked with 16 food and beverage company CEOs to help reduce 6.4T calories from 35% of the food sold in the United States.

As an observer, a participant and a leader during times of historic change, I learned to plan for multiple scenarios when redesigning and building high-impact, sustainable operations. Here’s what I know about managing through an inflection point:

• Always plan for disaster. Anticipate that at some stage, something will fail and determine whether or not the systems you have built will survive significant fallout from political or economic events, regulation or new competition. The question I ask daily is, “If we have the worst market crash tomorrow will we be able to sustain our core research infrastructure?”

• Hire smart people and help them move quickly by moving boulders out of their way.

• Look for opportunities to partner with other organizations to decrease costs by supplementing existing activities, creating new channels or outsourcing lower-yielding but well-loved legacy initiatives.

• Run as fast as you can. Do not slow down. You only have a short window of time in which to build and you need to move quickly.

• Preserve cash. Organizations who maintain lean operating systems and build reserves have the highest probability of riding out the worst market.

In 2018, when I joined FARE [Food Allergy Research and Education] as its CEO, rather than experience an inflection point, for the first time I may have created one for the organization. With a remit to restructure the organization and facilitate high-net-worth donor and industry investment to drive therapies and diagnostics into the marketplace to meet the needs of an underserved patient community, in 12 months we received $75M in commitments and put into place a cash conservation plan.

Now amidst the COVID-19 pandemic and even as some states and businesses prepare to open, at another inflection point. You simply never know when the inflection points will arise, yet here we are again as organizations try to pause to help others, while doing their best to stay relevant and generate revenue to support the needs of populations they serve.

Today, my staff knows that all ideas are on the table as we meet 2020 objectives in unanticipated ways. We are culling through my archives of the most innovative concepts executed by former teams during opportunity and crisis as we look for that kernel of a concept that can be reimagined and extended. Interestingly, we are finding that ideas gleaned from science fiction, spy novels and murder mysteries sometimes lead to the next new idea. We take thoughts and play them out in a 100 percent digital engagement or a combination concept like 10 and under in-person salons connected via Zoom across the country. And we find our humor and celebrate wins daily.

As Andy Grove says: “Success breeds complacency. Complacency breeds failure. Only the paranoid survive.” While we are in the midst of a pandemic, and closures and work stoppages may seem disastrous, keep running and do your best to enjoy your front row seat. It will help for next time.

Lisa Gable is CEO of FARE, Food Allergy Research Education, the largest private funder of food allergy research advocating on behalf of the 32 million Americans living with potentially life-threatening food allergies. Lisa’s passion, expertise, and fearless workstyle have propelled her to achieve the titles of CEO, US Ambassador, UN Delegate, Chairman of the Board, and advisor to Presidents, Governors, and CEOs of Fortune 500 and CPG Companies worldwide.

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Op-Ed: Staking Your Leadership Claim in a Traditionally Male Profession

female leaders

Guest Contributed by Kathleen Kuhn

It’s time to drop the “female” qualifier and see yourself just as a leader.

There’s been a huge push for gender equality in the workplace in recent decades, and no one can argue that, overall, female leaders have greater representation and visibility today than ever before. As of 2018, 40% of all businesses in the U.S. were owned by women, including 1 in 5 firms that earn over $1M in revenue. In the last 20 years, the number of women CEOs at Fortune 500 companies has risen from just two (1999) to a record-high of 33 (2019).

This is certainly positive news, but it’s only one small slice of the larger picture. Things look a bit bleaker when you zoom in on industries that are traditionally male-heavy, such as construction, trucking, and any of the STEM (science, technology, engineering, mathematics) fields.

According to research by Catalyst, just 6.6% of American women work full-time in occupations that have 75% or more male representation – and with so few women in these professions overall, it’s understandable that female leaders might find it challenging to command respect.

Gender as a leadership qualifier: Why do we care if a leader is female?

Much research has been done on the differences between male and female leadership styles, and the results are often complicated. The American Psychological Association says that all things being equal, men and women are equally effective as leaders, with the caveat that “all things rarely are equal.”

Contributing to this inequality are some persistent perceptions and stereotypes that make women less likely to be seen as leaders. A University of Buffalo study found that conventionally masculine traits, like confidence, assertiveness, and dominance, beat out “feminine” traits, such as cooperativeness, nurturing, sensitivity, and concern for others, in terms of who was viewed as a “leader.”

This, perhaps, explains why women leaders in male-heavy industries have felt like they needed to act like men to be successful and get ahead. Unfortunately, doing so only serves to normalize the existing gender gaps and stereotypes.

On the flip side, other women subscribe to Sheryl Sandberg’s now-famous “Lean In” mantra, which encourages women to take charge of their careers and fight gender inequality by boosting their own skills and confidence. This solution is only marginally better than “acting like a man:” As the Harvard Business Review notes, the idea of leaning in puts the onus of change entirely in the hands of women, when in reality, all genders must contribute to the systemic and societal shifts that will ultimately balance the scales.

How to stake your claim as a leader

So what’s the answer, then? We can start by not focusing so intently on a leader’s gender and instead focus on how effective they are at leading their companies.

Yes, it can be intimidating to be the only woman in a room full of men if you allow it to be. It’s not uncommon for women to think about how those men might be judging and underestimating you because of your gender. But the truth is, the gender mix in a meeting, on a team, or in an entire industry is irrelevant if not beneficial. Your gender is irrelevant; what matters is your performance and your contribution to the overall business and its culture.

As a female executive or senior leader working in a traditionally male profession, here are a few things you can do to focus on good leadership without a gender qualifier.

1. Show your people you care about them

Human beings are social creatures. We need support and recognition from our team to thrive. A report by the Society for Human Resource Management cited some of the benefits of a more caring, human-focused workplaces, including better employee performance, improved safety and health, and greater worker satisfaction and commitment. So, ask people how they’re doing. Get to know them as individuals who have personal lives outside of their jobs. While you’re in the workplace together, acknowledge their accomplishments and express your appreciation for their contributions to the company.

2. Listen to criticism (but don’t take it personally)

Being a leader means you’re going to make some difficult and unpopular decisions. It’s not possible to please everyone on your team, and at some point, you’ll be on the receiving end of negative feedback about your leadership style.

It’s important not to take these things personally, but instead, listen to the criticism and work with your team to find a solution. Research from the University of Bath and the University of Oklahoma found that leaders who respond to intense criticism with a collaborative strategy tend to retain follower support and achieve better outcomes than those who respond by avoiding the issue or diverting attention elsewhere.

3. Stop defining yourself as a female leader

There’s nothing wrong with taking pride in your femininity or celebrating your unique perspective and experiences as a woman. But calling attention to gender differences in your leadership style may ultimately perpetuate existing and perceived gaps between men and women in the workplace. Try to avoid focusing on the gender count in the meeting and simply show up as a competent executive.

The bottom line? When women confidently present themselves simply as leaders, rather than female leaders, it’s easier for everyone else to see them that way, too.

About the Author

Kathleen Kuhn is President and CEO of HouseMaster and PatchMaster, two franchise brands in the home services industry with locations across North America. As head of HouseMaster, the original home inspection franchise, Kathleen oversees an organization with more than 320 franchise locations across the U.S. and Canada. And as the CEO of PatchMaster, Kathleen leads a new, fast growing drywall repair specialty concept with 19 franchises signed in 46 territories with 10 franchises opened and operating.

The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com

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From Atoms to Assets: My Career in Financial Services

By Janet Walker, Director, Asset Management, Abbot Downing

Atoms are the smallest units of matter; they gave rise to cells.

Embryonic stem cells come from an embryo, and are undifferentiated and undefined, but multiply, grow and develop into a variety of cells – and ultimately a living, breathing human. The development and coordination of cells into a functioning organism is not fully understood, but scientists are working to decipher this every day. Understanding what keeps everything in our bodies in top working order and determining the causes of problems, from the physical to the emotional and mental, is a curiosity that has fueled me for as long as I can remember. The study of asset management, from understanding the complexities of capital markets to deciphering investor behavior, is surprisingly similar.

My path to asset management was atypical. As a young girl, I was driven by the desire to solve medical problems, to help people, in spite of my own obstacles. I lived in and out of shelters and in a constant state of fear while I was at home, struggling to cope with a physically abusive, unstable and alcoholic father. After becoming an emancipated minor, I finished high school and ultimately college, singularly focused on the desire to go to medical school. My path was not linear and was certainly full of obstacles, but I thrived and succeeded.

My college experience and path to graduation was not straightforward, nor what you might expect for a typical college student. I attended what was affectionately called a “commuter” school, where many of the students balanced school with full time jobs. I began as an Engineering Major and discovered that not only was the subject matter not what I expected, but that I was completely unprepared to thrive in an environment that was so unwelcoming to women at the time. I considered switching to Business Administration, but ultimately found my way to the School of Life Sciences, with a reputation of producing highly skilled scientists. I majored in Cell and Molecular Biology, minored in Chemistry, and loved every minute of it. From studying in the classroom to enduring the rigors of lab research, I found that my intellectual curiosity and desire to go to medical school were in sync. The challenges from my home life however, continued to follow me into college.

In spite of a laundry list of accomplishments and qualifications, I wondered whether I would be prepared for medical school, and looked to professors and others for guidance. Rather than listening to my own voice and following my passion, I took a detour and entered a PhD program in molecular biology at a renowned medical school, on the advice of my mentor. I found myself studying in a field that required a high degree of technical focus and less interaction with people – and while I enjoyed the technical and intellectual aspects of this path, the mismatch became clear.

Returning to the West Coast, I found myself in need of a job. Throughout college, I worked in a number of fields, including a short stint as an administrative assistant in Wells Fargo Private Bank. At the time, I was told that there would be an opportunity for me if I ever wanted to return, so I took full advantage of it. The position wasn’t ideal, but I worked hard to find a way to make it my own. The world of finance was completely new to me, despite a few business electives I took in college. I was curious, highly ambitious and thought creatively about how to make it my own. Initially, I obtained a number of securities licenses, and ultimately the Chartered Financial Analyst designation, to accustom myself to the industry. At the same time, the healthcare and biotechnology industries were coming into focus within the finance industry, driven by technological advancements and major discoveries. I used my technical knowledge, research skills and curiosity to bridge a divide, learning how discoveries in science were transforming the financial services industry.

During my 20-year career at Wells Fargo I have combined the fields of science and finance, working to understand global stocks, how they fit into an investment portfolio, and how the construction of a portfolio is impacted by exogenous factors such as geopolitics, economic forces and investor attitudes. The desire to understand complex situations, determine the root cause of a problem and educate and guide clients is surprisingly similar to my childhood aspirations. I successfully manage a complex book of assets with the added benefit of being able to work with a complex and dynamic group of incredibly talented people.

The journey has not always been easy or straightforward, but I’ve persevered by being flexible and embracing change. Much to my surprise, the tools that I have picked up along the way have helped me tackle success and challenges in my personal life. Marriage, the birth of two children, the sudden loss of my husband, are events that you can never really prepare for. Much like career uncertainty, I think it’s what you learn from these events that’s key.

Everyone defines success in a different way. From working with atoms to now working with assets, I’ve learned that my pathway to success involves listening to my inner voice, following my passion and moving through the obstacles that try to derail me, with grace and a positive, forward looking attitude. Success and challenges are inevitable, how we navigate through them is the key. I never thought that I would be a widow, raising two beautiful girls on my own. Success or challenges, either personal or professional, don’t define who I am, but instead shape who I’ve become.

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Calling All Imposters

By Monisha Jayakumar, Portfolio Manager with Wells Fargo Asset Management’s Analytic Investors Team

Monisha Jayakumar Imposter Syndrome. It’s a term I’ve heard a lot recently. It seems mysterious and eerily like a medical diagnosis—but fear not, it isn’t.

It’s just a tiny critical voice in your head that says “You don’t belong here!” when you’re on the brink of doing something courageous. It calls out when you are about to speak in front of an audience, take on a new role, pitch a new idea in an email, raise your hand and ask a question, or consider asking for a raise. So when we encourage people to speak up, stand up, and be seen, what if you are the one holding yourself back?

My title at work is portfolio manager with the Analytic Investors team within Wells Fargo Asset Management. I oversee approximately $8 billion in quantitative factor-enhanced strategies. In plain speak, I work with financial data and code processes to extract useful information that our team uses to make investing decisions for our clients’ assets.

As someone who analyzes data to create usable information, I have found that imposter syndrome is ubiquitous. My informal data collection—which includes many smart, ambitious, and successful women and men in my book clubs, parent groups, and friend circles—tells me that this lurking feeling of inadequacy at work is a feeling many of us share. We just haven’t had the courage to openly discuss it at the workplace.

I recently came across the work of Brené Brown, a courage and vulnerability researcher. In delving into her book Daring Greatly, I discovered a contrary idea to the years of “fake it till you make it” advice I’d been getting. Brown states: “Courage starts with showing up and letting ourselves be seen. True belonging only happens when we present our authentic, imperfect selves to the world.” According to the author, courage requires embracing three things: vulnerability, uncertainty and risk. She goes on to make a radical connection: without vulnerability and courage, there’s no creativity and innovation.

Courage is about vulnerability. Vulnerability builds trust and authentic connections. Isn’t that what businesses need? During the summer before graduate school, I was assigned heaps of summer reading that I did not get through. My “imposter” self was convinced that everyone else probably knew the reading assignment forwards and backwards. Anxiety rumbled that morning during our orientation breakfast when a fellow classmate whispered, “I still have several chapters I haven’t finished and I’m kind of nervous about it.” Pure relief and an authentic friendship ensued.

Courage is being okay with uncertainty. I was once afraid to ask for a pay raise for eight years. The small employee-owned firm that I was with at the time regularly researched pay scales and provided timely pay raises. But I am fully aware this is not commonplace. When I debated asking for a raise—something I believe was well earned—I would hear that “imposter” voice that doubted my worth. Accepting the uncertainty of an outcome is the key to your courage and vulnerability. When I let go of being wedded to a specific outcome, it became easier to express myself. And despite the discomfort of the conversation, there was great comfort in knowing I advocated for myself.

Courage is about risk taking. If you work in a profession where you stand out, it means you took a risk. There was a time when I didn’t understand that gender differences really matter. Why would I care if 10% or 50% were women? But here’s the thing: The more people who’ve done this before, looking or sounding exactly like you, the more confident you feel replicating prior success. In some ways it was motherhood that made me stop pretending it didn’t matter if I was a woman. In grappling with reasonable expectations I could set about maternity leave, a mentor said, “No one can do your job like you do it.” I realized that what I need, and what we all need, is different. I also realized what I contribute is different. I began asking for what I needed from a place of self-worth instead of a place of fear. Have the courage to value your uniqueness and own your seat at the table.

If there’s no courage, there’s no creativity and innovation. People and corporations both value these tenets – but are we making room to empower one another to truly be courageous? At some point in our careers, we’ve all seen unhealthy posturing. In my industry, the loud hyper-competent facade doesn’t serve anymore. What if being courageous enough to be vulnerable is the antidote? What if being authentic could be the key to actually shedding this personal and collective “imposter” syndrome?

Looking forward, I want to grow within the system but also encourage it to expand. So here’s my call to action. Risk being vulnerable: when you take on a new role or when you have changes in your personal life, share your fears and hopes. Accept uncertainty and have the uncomfortable conversations on inclusion and pay transparency. Take chances. If you are asked to speak at a conference, ignore the “imposter” voice and say yes, and empower others to do the same. Participate in creating the culture you wish could be created for you. And then watch that spark light the fire.

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The Power of Resilience

power of resilience

Guest contributed by Aleksandra Scepanovic

According a report by American Express, “Behind the Numbers: The State of Women-Owned Businesses in 2018,” as of last year there were 12.3 million women-owned businesses in the U.S. alone.

This is an incredible accomplishment, considering there were just over 400,000 back in 1972. Women are increasingly becoming more prominent in the business world. However, there is still plenty of room for improvement.

While it is encouraging to think that these numbers have risen because women are gaining new opportunities to follow their dreams and pursue career paths they love and enjoy, the harsh reality is that this is not always the case. While there are many factors as to why women are apt to start their own business, the decision could also be a result of work-life imbalance, gender discrimination, or the pay gap women often face in corporations. Growing up, women are told that they are equal to their male counterparts, that they can be whoever they want to be; but just past the childhood days exists an undeniable level of pressure that all women face, no matter their journey.

As women, we are used to society’s expectations of what and who we should be, both in our personal lives and in our careers. This pressure may lead to the feeling or need to be successful in ways different than those experienced by men. We are often faced with pressures to look a certain way and act a certain way, and we experience ageism differently than men. Resilience is defined as “the capacity to recover quickly from difficulties; toughness” – something women know a little about. Resilience is a quality that is not only important in your personal life, but is also pivotal to being a successful business owner and leader.

Dr. Brené Brown, a research professor at the University of Houston, conducted a study called the Shame Resilience Theory: A Grounded Theory Study on Women and Shame. The main purpose of the study was to determine how and what makes women feel a sense of shame, or what makes them feel unworthy of acceptance. While there is no universal trigger or answer, the study concluded that, “The sociocultural expectations are narrow interpretations of who women are ‘supposed to be,’ based on their identity (e.g., gender, race, class, sexual orientation, age, religious identity) and/or their role (e.g., mother, employee, partner, group member). These sociocultural expectations are often imposed, enforced, or expressed by individuals and groups (e.g., self, family, partners, friends, coworkers, children, membership groups).”

This feeling of “shame,” as Brown describes, does not stop in the workplace, and can even amplify. Women often have to work harder and work smarter than their male counterparts. On average, a woman will earn about 80 cents for every dollar earned by a man – a disappointing statistic that many of us have heard time and time again. Unfortunately, one which doesn’t always change for women entering the entrepreneurial world. In many cases, gender discrimination may not only affect your paycheck, but might also affect the funding you receive to start your business in the first place. A study by Boston Consulting Group found that “Investments in enterprises founded or co-founded by women averaged at around $935,000, less than half of the $2.1 million on average invested within those founded by men.”

Women face many challenges they need to overcome throughout the course of their careers, challenges that can significantly differ from those men encounter. A report by Senator Jeanne Shaheen of New Hampshire titled “Tackling the Gender Gap: What Women Entrepreneurs Need to Thrive,” indicates that the three greatest struggles female entrepreneurs face are lack of role models and mentors, the gender pay gap, and unequal access to funding and venture capital.

While this may seem disheartening, there can be light at the end of the tunnel. With each year that goes by, more women are showcasing their resilience and becoming successful business owners and leaders, proving the upward trend in female-founded firms is a result of hard work and determination to thrive.

According to the same previously referenced study by Boston Consulting Group, “For every dollar of funding, startups founded by women generate 78 cents, while startups founded by men generated less than half, at only 31 cents.” While proving that companies founded by women are typically more capable of thriving than male-founded firms, the number of female-owned businesses has doubled in 20 years, as has their revenue. Still, while vast improvements have been made over the last century, there is even more room to grow.

Throughout history, women have had to prove their worth and their place in leadership roles, but the power of resilient women is that we are not deterred by unfavorable statistics, or by being categorized as “successful” or “unsuccessful” based on old school ideals. Though the word resilience can be easily defined, the act of resilience cannot. It is a practice that we must work at each day, and continue to strive for to pave the way for some even more resilient women in the future.

Aleksandra Scepanovic is Managing Director of Ideal Properties Group, a leading residential real estate firm specializing in premier Brownstone Brooklyn and Manhattan neighborhoods in New York City.

The opinions and views expressed by guest contributors are their own and do not necessarily reflect those of theglasshammer.com

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Op-ed: Make Asset Management More Visible as a Career Choice to Women and Girls

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Ann MilettiBy Ann Miletti, co-lead portfolio manager of the Wells Fargo Asset Management Private Market Value (PMV) Equity team

When I tell people what I do for a living, I am often met with puzzled looks.

These experiences always remind me that asset management is a complex and often misunderstood business – despite the fact that the industry is inextricably involved in the financial and retirement plans of most Americans. Since it is Women’s History Month with International Women’s Day celebrations still resonating, with the theme #betterforbalance, it is a great time to talk about realities, myths and opportunities that come with working in asset management. And, how it is an underdiscussed career path that many women could take, in many forms, either on the retail or institutional side of the business.

My Journey to Co-lead Portfolio Manager

I’ll admit, when I started my career as an elementary school teacher, I would have had the same reaction. However, 29 years ago my path took a sharp turn that caused me to fall into asset management in a most unconventional way. After my son was born with a serious heart defect, I needed to stay home to care for him while my husband worked during the day. But the tremendous financial implications of his illness and of life in general did not allow me to remain unemployed. So, I found a job working the midnight shift at a call center for a local financial firm. This job allowed me to learn about the financial markets and various product offerings from the ground up. Unbeknownst to me at the time, it would be the stepping-stone for a successful career as a portfolio manager at Wells Fargo Asset Management. I currently, along with my team, manage about $4 billion in assets.

Still today, if you ask a high school or university student who is exploring career options or majors what a fund manager or asset manager does, most do not know. Sadly, if they do know anything, it may not be something positive. Hollywood, the media and politicians often portray the financial services industry – and Wall Street in particular – as immoral, driven by greed and selfishness.

In all honesty, asset management, like most industries, has produced its fair share of bad actors. And the financial crisis of 2008 further tarnished the reputation of financial services overall.

Yet the true value of asset management is rarely discussed, which is unfortunate. I firmly believe that the majority of asset management professionals go to work each day with the goal of creating wealth for their clients and helping them prepare for their financial needs, both for today and for the future. Today, our industry in some way manages about $28 trillion in retirement assets in 401(k) plans, pensions and other vehicles.1 Our mission is to help people achieve their dreams, such as sending their children to college, buying their first home, preparing for retirement or something much bigger.

Asset management provides a worthy and fulfilling career – a notion that I believe remains widely misunderstood. For example, I know the returns we generate for our clients are meaningful and make a significant difference in their lives. And without finance, the economy would not grow, creating fewer jobs and hurting all of us, no matter your profession or financial standing.

How do we change the perception?

To start, we need to educate people at younger ages about financial literacy and encourage them to practice responsible money management skills. This is something I am both passionate about and involved in with high school-age kids today.

We as an industry must also stop talking in jargon that is difficult for a mass audience to understand.

In addition, asset management and financial services in general need a pipeline of curious, dynamic-thinking, and diverse people. To attract the right talent, our industry must do more to educate everyone about the value that we provide to individuals, families and society.

We need to more actively embrace diversity, including encouraging young women equally and early to be interested and  confident that they belong in the asset management field – and maybe, most importantly, that they are needed because of their skills.

In research conducted by Wells Fargo Investment Institute,2 we found that women’s attributes such as patience (trading less), discipline (through asset allocation) and a willingness to learn (seeking advice from an investment professional) have allowed them to earn higher returns on their investments for the risks they do take. That is essentially the essence of investing – maximizing returns in the face of risk.

We must find ways to communicate the financial stories of success. Hollywood may have immortalized the slogan “greed is good” with many of the recent depictions showing a persistently evil industry – but that just isn’t so. Nest eggs have grown, college educations have been paid for, endowments have been built up and civic building projects have been completed. These are just a few examples of how society has benefited from the industry.

I am grateful for my career in asset management, a field that thrives on the many strengths and attributes of women.

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