Merrill Lynch ‘Life Advisor’ Climbs Mountains With Clients And Treats Them Like Family

Title: Stacee Crittenden

Agency: Merrill Lynch Wealth Administration

Location: North Bethesda, Maryland

AUM: $388 million

Forbes Rankings: Prime Ladies Wealth Advisors Finest-in-State, Finest-in-State Wealth Administration Groups

Background: Born in New York Metropolis, Stacee Crittenden spent most of her childhood in Nassau, the Bahamas. A historical past main and political science minor at Spelman Faculty, she then graduated from Georgetown College Regulation College in 1993 and labored as an assistant state legal professional prosecutor in Miami. In 1997, she went again to the Bahamas after her father’s passing: “I used to be compelled into property planning 101 in minutes—I didn’t need anybody else to must undergo that very same expertise,” she describes. Shortly after coming again to the USA, she turned down a giant job on the U.S. Lawyer’s Workplace in 1999 and moved to Washington, D.C., to grow to be a monetary advisor at Legg Mason Wooden Walker. She joined Merrill Lynch in 2009 and now has a various roster of shoppers that features multigenerational households in addition to small enterprise house owners, with a selected deal with authorities contractors.

Aggressive Edge: “My shoppers all the time say the identical factor,” says Crittenden. “‘Stacee is my life advisor, and if something occurs in my life I wish to name her first and inform her what’s occurring so she can provide me recommendation on the right way to proceed.’”

Funding Philosophy/Technique: “Once we converse with shoppers we create buckets synonymous with their targets—and long-term investing is essential,” says Crittenden. “As an alternative of trying day by day at what the inventory market is doing, I all the time advise shoppers to stay to their long-term targets.” Shopper portfolios typically embody plenty of dividend payers on the fairness aspect, along with mutual funds, fixed-income methods and various investments.

Funding Outlook: Says Crittenden: “We don’t know when the Fed will decrease charges however we’re going to handle consumer accounts in order that they’ll proceed to have the ability to get some type of dividend progress and know that there’ll typically be alternatives.”

Greatest Problem: In October 2022—after months of coaching and with 4 of her shoppers in tow, Crittenden fulfilled her lifelong dream of reaching the highest of Africa by climbing Mt. Kilmanjaro. “It was probably the most tough factor I’ve executed in my life however probably the most rewarding,” she describes, including that planning for an additional climbing journey is already within the works.

Range: Crittenden is captivated with variety: She travels to talk on the topic at completely different places of work across the nation in addition to finds time to mentor different African American and girls advisors. “If you consider the way in which this enterprise was a number of a long time in the past, your monetary advisor can be a white male, however if you happen to consider America, that’s not America as we speak,” she says. “So when groups aren’t including ladies or individuals of coloration they’re making a giant mistake that may value them shoppers sooner or later.” What’s extra, it makes a distinction for shoppers to see somebody who appears like them, as they are often extra comfy and don’t must really feel like they are going to be handled any in another way, she factors out.

Finest Recommendation: Crittenden all the time tells new advisors to deal with every consumer like a grandmother or grandfather. “You might be like a part of their household and it’s a must to deal with them like they’re a part of yours . . . if you happen to do this not solely will you’ve a profitable profession but additionally a gaggle of pals who’re your shoppers.”