Founder and CEO, LVW Advisors
Years in current role: 10
What do you enjoy most about your role?
I have always enjoyed helping clients meet and exceed their financial goals and giving them peace of mind. I get a lot of satisfaction knowing we have a team of people that do the same and a culture built around this endeavor. We have never lost site of the fact that what we do is serve clients and solve problems to make their lives more enriched. Mentoring and teaching has always been front and center for me in my career.
What has been the biggest challenge you’ve dealt with over the past year?
LVW was able to take our business remote seamlessly and bring people back to an office space selectively early. The biggest challenge for me has been reengaging into the business after the sudden loss of my husband 17 months ago. I have been so grateful for the team of people at LVW, our culture and next gen team. Many businesses cannot sustain when the founder or a key person is taken out of the organization for any period. In corporate structures, we do not think enough about this or the impact of grief on employees or generally provide enough support.
What do you see as the biggest changes in the banking and finance industry in the next 3-5 years?
Integrating technology with high-touch service to provide a seamless experience for clients, given we have a major change in demographics around wealth occurring as the oldest millennials are now 40.
The U.S. stock market is up seven of the last eight years and valuations are in the 99th percentile of expensive, second only to 1929. Over the next decade, we estimate 5% a year returns for stocks and less than 2% for cash/bonds. Investments need to be accessed, vetted and added to portfolios that can powerfully diversify and generate returns better than public markets with equal or less risk.
What is the No. 1 tip you would give to people or companies about planning their finances amid uncertain times?
For companies and individuals, it is important to go through a stress test of their financial health should something unexpected happen. How would they navigate a sudden drop in investable assets due to market conditions, or how would a company weather economic downturn or the loss of a key person?
What community organizations do you support as a volunteer and why?
I believe strongly in access to education and organizations that help protect, promote and maintain health and well-being for our underserved populations. Health and wellness and moving toward preventive health is very important to me as well as integrating the arts into the lives of all people, not just those with the means or education.
I support Monroe Community College as chair of the foundation’s board of trustees. I’m also on the board of URMC, Thompson Health, The Memorial Art Gallery, and the Rochester Area Community Foundation.
This profile is part of Rochester Business Journal's Power 30 Banking & Finance list for 2021. Information used in this profile was sourced from the honoree. View the full list at https://rbj.net/2021/12/17/rbjs-power-30-banking-finance/.