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April 30, 2024

Money Matters Episode 316 - ESG, SRI, and Beyond with Melissa Reaktenwalt

Money Matters Episode 316 - ESG, SRI, and Beyond with Melissa Reaktenwalt

In this insightful episode of the "Money Matters" podcast, financial advisor Melissa Reaktenwalt shares her 18-year journey in the wealth management industry. She discusses her transition from the credit union sector to owning her own firm, the significance of ESG and SRI principles in values-based investing, and her role as a public speaker. Melissa's experiences provide invaluable insights into navigating diverse financial channels and incorporating sustainable investing options.

This episode also explores diversity in the financial sector, highlighting Melissa's perspective as a minority professional and her "earn all you can, save all you can, give all you can" mantra, making it a must-watch for financial advisors and clients alike.

00:00 Opening Thoughts on Diversity in Financial Services 

00:44 Introducing Melissa B. Reaktenwalt: A Financial Industry Veteran

01:53 Melissa's Journey: From Entry to Expertise

03:18 The Evolution of Wealth Management with Melissa

04:37 Melissa's Public Speaking Journey: From Moderator to Keynote Speaker

07:50 Navigating Career Paths: Credit Union to Independent Advisor

11:52 Diversity and Inclusion in the Financial Industry: A Personal Take

14:48 Incorporating ESG and SRI into Wealth Management

17:46 The Importance of Financial Education in Melissa's Practice 19:25 Melissa's Personal Money Mantra and Professional Approach

20:49 Industry Trends and the Future of Financial Advising

23:49 Closing Remarks and Where to Find Melissa

 https://www.eviefinancial.com/

Transcript

Melissa Reaktenwalt: Money Matters Podcast Interview

April 29, 2024 . 3:24 PM . ID: 820682941

Transcript


00:01 - 00:03
[speaker unknown]

This conference will now be recorded.


00:04 - 00:04
Christopher Hensley, RICP®, CES™

All right.


00:04 - 00:08
Christopher Hensley, RICP®, CES™

And I'm gonna edit out just the beginning here because I'm gonna throw up I'm using a teleprompter.


00:08 - 00:13
Christopher Hensley, RICP®, CES™

This is something new for me, so if it looks like I'm reading, it's also because I have my readers.


00:14 - 00:14
Melissa B. Reaktenwalt

All right.


00:16 - 00:17
Christopher Hensley, RICP®, CES™

Give me just a second.


00:17 - 00:17
Christopher Hensley, RICP®, CES™

Here.


00:17 - 00:18
Christopher Hensley, RICP®, CES™

We go.


00:18 - 00:18
Christopher Hensley, RICP®, CES™

Ok, so.


00:20 - 00:24
Christopher Hensley, RICP®, CES™

Welcome to Money Matters where we unlock the door to financial success.


00:24 - 00:31
Christopher Hensley, RICP®, CES™

Today we're joined by Melissa be Reckoned, an industry veteran with 18 years of experience.


00:31 - 00:35
Christopher Hensley, RICP®, CES™

She's here to share invaluable insights to elevate your financial journey.


00:35 - 00:36
Christopher Hensley, RICP®, CES™

Will explore.


00:36 - 00:45
Christopher Hensley, RICP®, CES™

Melissa is dynamic entry into the industry for evolution into a renowned public speaker and how she balances educating clients while managing their investments.


00:45 - 00:54
Christopher Hensley, RICP®, CES™

She'll reveal her insights into the credit union bank channel versus the independent channel for advisors, providing a clear roadmap for navigating these paths.


00:54 - 01:11
Christopher Hensley, RICP®, CES™

Melissa will also guide us through values based wealth management explaining yes, G and SRI Principles, influencer practice will uncover her money mantra, offering a blueprint for financial success, and delve into how, diversity and inclusion are shaping the industry.


01:12 - 01:16
Christopher Hensley, RICP®, CES™

This episode is packed with actionable insights from Melissa's journey.


01:16 - 01:22
Christopher Hensley, RICP®, CES™

So stay tuned to the end for tips that will leave you empowered and ready to take charge of your financial future.


01:23 - 01:27
Christopher Hensley, RICP®, CES™

Ok, that's the intro, so I'm gonna, I'm gonna, I'm gonna edit there.


01:27 - 01:32
Christopher Hensley, RICP®, CES™

And let me just turn off the teleprompter now, because it's distracting to me.


01:33 - 01:36
Christopher Hensley, RICP®, CES™

Text display.


01:36 - 01:36
Christopher Hensley, RICP®, CES™

Here we go.


01:36 - 01:36
Christopher Hensley, RICP®, CES™

Ok.


01:38 - 01:39
Christopher Hensley, RICP®, CES™

All right.


01:39 - 01:42
Christopher Hensley, RICP®, CES™

Melissa, welcome so much to the show.


01:42 - 01:44
Melissa B. Reaktenwalt

Thank you so much for having me, I'm happy to be here.


01:45 - 01:46
Christopher Hensley, RICP®, CES™

Absolutely.


01:46 - 01:51
Christopher Hensley, RICP®, CES™

Now, Melissa, I was lucky enough to meet you at future proof in real life.


01:51 - 01:58
Christopher Hensley, RICP®, CES™

And this was a, this was an industry event, and we were networking, and we sat down, and we had a really good conversation together.


01:58 - 02:05
Christopher Hensley, RICP®, CES™

But for listeners, who are just now learning about you, can you share a little bit about yourself so that we can get to know you better?


02:06 - 02:07
Melissa B. Reaktenwalt

Absolutely.


02:08 - 02:15
Melissa B. Reaktenwalt

So, yes, in that brief 15 minutes that we chatted, I gave you the short version of, and I'll do the same here.


02:15 - 02:22
Melissa B. Reaktenwalt

But, yes, North erect And while I have had quite a meandering career in financial services but a really good one.


02:23 - 02:25
Melissa B. Reaktenwalt

That led me to start my own firm ...


02:25 - 02:31
Melissa B. Reaktenwalt

Financial in 20 18 as solo practice, and we've grown and grown and grown from that point.


02:32 - 02:40
Melissa B. Reaktenwalt

But as you mentioned, I've got just about 18 years in the industry and moving again, from firm to firm.


02:40 - 02:42
Melissa B. Reaktenwalt

I'm trying to find the right fit.


02:42 - 02:46
Melissa B. Reaktenwalt

So it's been an interesting journey for sure within the financial services world.


02:47 - 02:49
Melissa B. Reaktenwalt

But happy to be here and thriving.


02:49 - 02:50
Christopher Hensley, RICP®, CES™

I love it, I love it.


02:51 - 03:01
Christopher Hensley, RICP®, CES™

And I'm smiling here because when we talked about 20 years or so, maybe a couple extra years there for extra credit, into the, into my career as well.


03:01 - 03:16
Christopher Hensley, RICP®, CES™

So, we know a lot of things were, were very similar And yet, you know, some of the growth and evolution that you went through, a little bit different is, well, how is your approach to wealth management evolved over, you know, nearly two decades in this field.


03:16 - 03:19
Christopher Hensley, RICP®, CES™

And what key lessons have you learned along the way?


03:20 - 03:22
Melissa B. Reaktenwalt

I think that's a great question.


03:22 - 03:40
Melissa B. Reaktenwalt

I, I have had the opportunity and advantage, and maybe fortune, of being in the room with lots of different types of financial advisors and financial planners over the years and have worked with a lot of them, either as associate advisors or even business partners.


03:41 - 03:44
Melissa B. Reaktenwalt

Already seen a lot of different sides of the industry and the business.


03:45 - 03:58
Melissa B. Reaktenwalt

And that kind of broad depth of experience there, I think, has given me a really unique vision and perspective on the wealth management industry as a whole, but also kind of how I work with clients.


03:59 - 04:05
Melissa B. Reaktenwalt

And I've tried really hard to differentiate myself, because, of course, that's what everyone tells you to do.


04:06 - 04:07
Melissa B. Reaktenwalt

The reasons industry.


04:07 - 04:09
Melissa B. Reaktenwalt

But I wanted to be very genuine in that.


04:09 - 04:16
Melissa B. Reaktenwalt

So I took a lot of those different experiences and a lot of those different perspectives from other advisors that I've worked with over the years.


04:16 - 04:21
Melissa B. Reaktenwalt

To kind of helped craft my vision for a firm and what I did not want, and what I absolutely didn't want.


04:22 - 04:27
Melissa B. Reaktenwalt

And that plays into how I work with clients on the wealth management side and the financial planning side.


04:28 - 04:28
Christopher Hensley, RICP®, CES™

I love it.


04:28 - 04:29
Christopher Hensley, RICP®, CES™

I love it.


04:30 - 04:36
Christopher Hensley, RICP®, CES™

Let's talk, I'm gonna pivot just a little bit here, and because one of the other things that we connected on was, was public speaking.


04:37 - 04:37
Melissa B. Reaktenwalt

As.


04:37 - 04:51
Christopher Hensley, RICP®, CES™

As, in addition to having your own practice and your own wealth management, financial planning company, you also do a lot of public speaking, Your public speaking journey has been a prominent aspect of your career.


04:51 - 04:54
Christopher Hensley, RICP®, CES™

How did you get started and what challenges are mindful?


04:54 - 04:56
Christopher Hensley, RICP®, CES™

Milestones have shaped your journey as a speaker?


04:57 - 04:58
Melissa B. Reaktenwalt

Yeah, absolutely.


04:58 - 05:00
Melissa B. Reaktenwalt

I also started a great question.


05:01 - 05:12
Melissa B. Reaktenwalt

So, I think a lot of advisors think that when I say, I'm a public speaker, and lots of other people think that I'm doing educational workshops and those types of things for clients, I certainly do that.


05:12 - 05:16
Melissa B. Reaktenwalt

That is a big part of our, our community education that we do.


05:16 - 05:18
Melissa B. Reaktenwalt

And reaching clients and getting the prospect.


05:19 - 05:40
Melissa B. Reaktenwalt

But on the Public speaking side of the line, it started in the financial services realm, and that I was asked to, I submitted a bid for a speaker at a women's conference, talking about kind of financial basics for women business owners, and did not get that, they wrote back and said, Hey, thanks so much for that.


05:40 - 05:41
Melissa B. Reaktenwalt

For that pitch.


05:42 - 05:53
Melissa B. Reaktenwalt

We love it, We're gonna instead ask you to be a moderator and panelists, but a moderator for a panel at this event because we think that, you know, based on your experience, that makes sense.


05:54 - 05:56
Melissa B. Reaktenwalt

I just check my ego for just a moment.


05:57 - 06:04
Melissa B. Reaktenwalt

Not immediately say, Absolutely not, I'm not going to do that, but that was my first step into graciously accepted.


06:04 - 06:12
Melissa B. Reaktenwalt

And that was my first step into being on a relatively big stage that was a panel on women in business and entrepreneurship and that journey.


06:12 - 06:28
Melissa B. Reaktenwalt

And that sort of balloon into a couple of other events, and a couple of other invites sitting on a couple of other panels as a panelist, and then doing a couple of keynotes over the years.


06:28 - 06:34
Melissa B. Reaktenwalt

So it's just kind of balloon from sort of that first ego, crushing bone.


06:36 - 06:38
Melissa B. Reaktenwalt

But, you know, all upheld through here.


06:39 - 06:44
Melissa B. Reaktenwalt

But it has been a really big part of my career, and it's funny, to me.


06:44 - 06:56
Melissa B. Reaktenwalt

I am an extreme introvert, I think, in a lot of cases, and so this career, I'm a little bit of an anomaly there, but also, as a public speaker, I think that that is it's a little bit different.


06:56 - 07:05
Melissa B. Reaktenwalt

So, I bring a little bit of a different energy there, so it's been a really big part of my journey in financial services and also building out to that kind of business owner community as well.


07:06 - 07:07
Christopher Hensley, RICP®, CES™

Love it.


07:07 - 07:07
Christopher Hensley, RICP®, CES™

I love it.


07:07 - 07:18
Christopher Hensley, RICP®, CES™

So what I'm hearing is saying Yes, You know, initially when they told you, Hey, you're going to be a moderator, That's, that's not what I pitched you on, but that opened.


07:18 - 07:19
Melissa B. Reaktenwalt

Up the.


07:19 - 07:23
Christopher Hensley, RICP®, CES™

Big stage that you're now doing, lots of public speaking.


07:23 - 07:27
Christopher Hensley, RICP®, CES™

And you're doing a lot of things that you didn't quite see yourself doing at the beginning of that.


07:27 - 07:28
Melissa B. Reaktenwalt

Journey.


07:28 - 07:31
Christopher Hensley, RICP®, CES™

You mentioned that, your your core introvert.


07:31 - 07:38
Christopher Hensley, RICP®, CES™

But you're also able to check the box and get in front of a group, and it's, I would say, it's even a different skill set or energy level there.


07:38 - 07:42
Christopher Hensley, RICP®, CES™

And that's That's fantastic to see that the, share that with other people here.


07:43 - 07:49
Christopher Hensley, RICP®, CES™

I want to revisit what we taught, what we mentioned a little bit in the intro that year was the bank channel.


07:49 - 07:54
Christopher Hensley, RICP®, CES™

Because I, before I was a financial advisor, I worked in the bank channel as well.


07:55 - 08:03
Christopher Hensley, RICP®, CES™

So, you know, you have this background, where you came from the credit union first and then into the independent channel.


08:03 - 08:07
Christopher Hensley, RICP®, CES™

What advice do you have for someone considering each of these different paths?


08:08 - 08:09
Melissa B. Reaktenwalt

Yeah, absolutely.


08:09 - 08:09
Melissa B. Reaktenwalt

So it is.


08:10 - 08:12
Melissa B. Reaktenwalt

I started very candidly.


08:12 - 08:20
Melissa B. Reaktenwalt

I started on the credit union side of the line, and they're sort of brokerage and investment arm as an assistant or a financial planner.


08:21 - 08:23
Melissa B. Reaktenwalt

And that was because that was the first job that was offered to me.


08:25 - 08:31
Melissa B. Reaktenwalt

Very, very fresh, 20 year old and I took it because that's what you need to do to pay your bills.


08:32 - 08:38
Melissa B. Reaktenwalt

So took that and worked for her for a couple of years and really fell in love with a career.


08:38 - 08:41
Melissa B. Reaktenwalt

I will say it was such a soft dart.


08:41 - 08:44
Melissa B. Reaktenwalt

It was not a hard launch into this business.


08:44 - 08:59
Melissa B. Reaktenwalt

It was a very soft starting point, because there's a very nice office and a branch location, and members of the credit union would just be walked over from the teller, or from the Manager or the loan officer to say, Hi.


08:59 - 09:06
Melissa B. Reaktenwalt

You might want to talk to the other advisor at that point, about, so and so for your IRA and these types of things.


09:06 - 09:11
Melissa B. Reaktenwalt

So it was very much a, Oh, there is no prospecting, there is no growth path that we're looking at.


09:11 - 09:13
Melissa B. Reaktenwalt

You come in, you receive a paycheck.


09:14 - 09:17
Melissa B. Reaktenwalt

You service the clients that are in front of you.


09:18 - 09:28
Melissa B. Reaktenwalt

When I transitioned to taking over for her role, when she left the credit union system, I was very quickly licensed and very quickly, in charge of three different branch location.


09:29 - 09:33
Melissa B. Reaktenwalt

And so, that was an eye opener right to say, OK, I can do this.


09:33 - 09:34
Melissa B. Reaktenwalt

Absolutely, I love the work.


09:34 - 09:37
Melissa B. Reaktenwalt

And there has to be a better way to do that.


09:38 - 09:50
Melissa B. Reaktenwalt

I let that sit and kind of simmer for some time because, again, I was going to first talk to position and a very comfortable one that I know not a lot of people coming into the industry are in initially.


09:51 - 09:59
Melissa B. Reaktenwalt

But I did then take the leap and went to kind of a semi independent firm, Then, went independent from there.


09:59 - 10:10
Melissa B. Reaktenwalt

So, and I talk about this a lot in my public speaking, my kind of business owner journey, it started with, get the foundation that you need and want, and then build from that point.


10:10 - 10:13
Melissa B. Reaktenwalt

That is a very conservative way to do it.


10:13 - 10:15
Melissa B. Reaktenwalt

But it worked really well for me.


10:16 - 10:28
Melissa B. Reaktenwalt

I think that if you feel like there is that draw, or that desire to do something better, to do something different, you have an expanded option of things to be able to do for your clients.


10:28 - 10:41
Melissa B. Reaktenwalt

On the wealth management side, on the financial planning side, looking at that, either independent or independent channel is really a great way to go, but you have to be prepared for the island that it can then sometimes put you on.


10:42 - 10:43
Melissa B. Reaktenwalt

That's the other side of the line.


10:43 - 10:51
Melissa B. Reaktenwalt

Very cushy, very soft on one side, not harsh, but different and sometimes more challenging on the other side.


10:52 - 10:53
Christopher Hensley, RICP®, CES™

I love it.


10:53 - 10:56
Christopher Hensley, RICP®, CES™

I love it and say if it was easy, everybody would be doing you know.


10:58 - 11:07
Christopher Hensley, RICP®, CES™

You talked about these, these islands that you can end up on but you also talked about having that foundation first and then building from there.


11:07 - 11:17
Christopher Hensley, RICP®, CES™

As a business owner, you talked about the soft start and the idea of you know when you're in the bank channel these these relationships are being handed to buy tellers.


11:17 - 11:17
Melissa B. Reaktenwalt

And Branch.


11:17 - 11:18
Christopher Hensley, RICP®, CES™

Branch Manager.


11:18 - 11:25
Christopher Hensley, RICP®, CES™

So, you're able to still do the stuff that you think of As a financial advisor, but the way that it's coming to you, looks a little different.


11:25 - 11:28
Christopher Hensley, RICP®, CES™

And then, fast forward to now where you're completely independent.


11:28 - 11:34
Christopher Hensley, RICP®, CES™

And you're having to wear your marketing hat, and your client, your client acquisition, and your financial planning out there.


11:34 - 11:44
Christopher Hensley, RICP®, CES™

So, I think, thank you for sharing that, because, I think for people who might be coming out of the bank channel, or credit union, a channel, to hear that, that's, that's very helpful for them.


11:46 - 11:50
Christopher Hensley, RICP®, CES™

Let's talk a little bit about diversity in the industry.


11:50 - 11:56
Christopher Hensley, RICP®, CES™

You know, I'm, I'm 50, I just turned 50, I've been in the industry for 20 years, and, boy, things have changed.


11:58 - 12:03
Christopher Hensley, RICP®, CES™

Over the past, you know, the tail end of the eighties and the early nineties there.


12:03 - 12:12
Christopher Hensley, RICP®, CES™

What do you see as the current state of diversity in the financial industry, and what steps can be taken to encourage greater inclusion across all levels?


12:15 - 12:29
Melissa B. Reaktenwalt

I think that it is a, a very important topic, I think, that a lot of folks view it as a hot topic, and not necessarily a very important topic, but as, as being one of those people.


12:29 - 12:44
Melissa B. Reaktenwalt

So, my previous associated minute to call the triple threat young, black woman in this industry is somewhat coveted, but also very much an outlier, so that's been my experience than starting 18 or so years ago.


12:45 - 12:50
Melissa B. Reaktenwalt

And somewhat, Unfortunately, that hasn't shifted a whole lot over the years.


12:50 - 13:02
Melissa B. Reaktenwalt

I will say that there is, there's a lot of talk, and a lot of foundation for bringing in some diversity, equity, and inclusion topics.


13:02 - 13:09
Melissa B. Reaktenwalt

I've sat on a advisory council for a D&I group for a couple of years.


13:09 - 13:32
Melissa B. Reaktenwalt

We did some really good work there, but a lot of it was foundational, so I feel like, in financial services, we are behind the curve, Not terribly behind other industries, but certainly behind the curve, and making some moves there, and making some progress, but I do think that it is on the docket, I think that a lot of people are starting to talk about it, and talk about it in a meaningful and more impactful way.


13:32 - 13:35
Melissa B. Reaktenwalt

These days, which is refreshing to see.


13:36 - 13:57
Melissa B. Reaktenwalt

So, I think that there is such a runway, or a diverse population within financial services, not just an administrative staff, not just this pair of planners, not just to support folks, but as advisors and firm owners and RA owners, and all of these different components.


13:57 - 14:05
Melissa B. Reaktenwalt

Then, I think a lot of that starts with representation for having folks that look like me, that look a little bit different, that run their practice a little bit different.


14:06 - 14:15
Melissa B. Reaktenwalt

I think it's important to have those folks out there and say, Hey, if this is possible for you to, it's not easy, but it's absolutely possible.


14:15 - 14:18
Melissa B. Reaktenwalt

So, the D and I work, I think, is really important work.


14:19 - 14:21
Melissa B. Reaktenwalt

I think it's also a bit of an uphill battle sometime.


14:23 - 14:26
Christopher Hensley, RICP®, CES™

100% agree, I mean, we're further along than we were 20 years.


14:26 - 14:27
Melissa B. Reaktenwalt

Ago when it was all white.


14:27 - 14:28
Christopher Hensley, RICP®, CES™

Dude.


14:28 - 14:35
Christopher Hensley, RICP®, CES™

But now I want to say a little bit further down the road, you know, to be, you know, have different politics.


14:35 - 14:37
Christopher Hensley, RICP®, CES™

It's almost like being a unicorn, so So.


14:37 - 14:38
Christopher Hensley, RICP®, CES™

So I'm with.


14:38 - 14:39
Melissa B. Reaktenwalt

You here.


14:39 - 14:39
Melissa B. Reaktenwalt

So.


14:40 - 14:45
Christopher Hensley, RICP®, CES™

This is a good lead way into really kinda how you built your practice.


14:45 - 14:50
Christopher Hensley, RICP®, CES™

Because one of the things that you've incorporated that you're passionate about is ESG and SRI.


14:50 - 14:53
Christopher Hensley, RICP®, CES™

And really values based wealth management.


14:53 - 15:01
Christopher Hensley, RICP®, CES™

How do you incorporate ESG and SRI principles into your wealth management practice and how do these values resonate with clients?


15:01 - 15:05
Christopher Hensley, RICP®, CES™

And I'm gonna pause myself during, I'm gonna have to say you might have to explain to listeners with ESG and SRI.


15:05 - 15:08
Christopher Hensley, RICP®, CES™

They may not know the acronym.


15:11 - 15:14
Melissa B. Reaktenwalt

I appreciate the opportunity to do that.


15:14 - 15:21
Melissa B. Reaktenwalt

And I will say that ESD and SRI, which is environmental, social, and governance issues.


15:21 - 15:27
Melissa B. Reaktenwalt

Within your investment portfolio, SRI, stands for Socially Responsible Investing.


15:27 - 15:30
Melissa B. Reaktenwalt

So, depending on who you're talking to, they may be interchangeable.


15:30 - 15:31
Melissa B. Reaktenwalt

They may not be.


15:32 - 15:37
Melissa B. Reaktenwalt

But the gist is that these are values based investment strategies that we're looking at.


15:37 - 15:44
Melissa B. Reaktenwalt

Kind of your core values as a human, not necessarily or investment philosophy, although that comes into play too.


15:45 - 15:53
Melissa B. Reaktenwalt

But looking at some of the core values, the issues that you find important, investing more in line with those values.


15:53 - 16:01
Melissa B. Reaktenwalt

So, I started my firm when I went, so I started my firm on the basis of education.


16:01 - 16:02
Melissa B. Reaktenwalt

First.


16:02 - 16:04
Melissa B. Reaktenwalt

I wanted to be very much a community resource.


16:05 - 16:16
Melissa B. Reaktenwalt

This is where some of the public speaking and some of that workshop kind of environment came from, but I wanted it to be an education first firm, and if that, and that is such a beautiful thing to me.


16:17 - 16:25
Melissa B. Reaktenwalt

And when I started the firm almost six years ago, I wasn't really into the ESG or the SRI side of the line.


16:25 - 16:34
Melissa B. Reaktenwalt

I thought like a lot of other advisors thought that it was a bit of a fad and a bit of a phase and maybe not something that was truly going to have an impact.


16:34 - 16:57
Melissa B. Reaktenwalt

But the more that I did, my due diligence, and more that I did my research on some of these things, and found other advisors who are doing very similar, really impactful work and have the metrics to actually, you know, solidify that I think it was really eye opening to me to say, Man, this can be a component of that financial education piece as well.


16:57 - 17:05
Melissa B. Reaktenwalt

It's not just about stocks and bonds and mutual funds and index funds, like it is, Look at all of these things that you can do with your money.


17:05 - 17:09
Melissa B. Reaktenwalt

So it's something that we incorporate into our practice.


17:09 - 17:13
Melissa B. Reaktenwalt

It is not a requirement for clients to invest that way if they do not want to, or don't have a penchant.


17:13 - 17:14
Melissa B. Reaktenwalt

For that.


17:14 - 17:22
Melissa B. Reaktenwalt

But it is something that we bring up and are forward with because it's something that's important to me and something that's important to the rest of my staff.


17:22 - 17:29
Melissa B. Reaktenwalt

And if it's important to clients, we want to be able that we'll be able to offer that when when it's available.


17:31 - 17:33
Christopher Hensley, RICP®, CES™

I know your, your firm is called E V.


17:34 - 17:35
Melissa B. Reaktenwalt

And.


17:35 - 17:45
Christopher Hensley, RICP®, CES™

The E is for education, So we've talked a little bit about that, can you dive just a little bit deeper as to where that lies in your practice, how, how important is education to you, and where does that fit?


17:46 - 17:46
Melissa B. Reaktenwalt

Yeah, absolutely.


17:46 - 18:00
Melissa B. Reaktenwalt

So, I actually started, I fell in love with a career because of some of my upbringing, so I didn't have a lot of that financial literacy and education, and my, you know, coming up, I just wasn't there.


18:00 - 18:07
Melissa B. Reaktenwalt

And I remember feeling very strongly about, like, I can educate myself out of this situation.


18:07 - 18:19
Melissa B. Reaktenwalt

I can get out of this Tiny little town, nothing, wrong, title, mid-west, town level, and then with that, I needed to get out of, what was I going to do to get out of the title?


18:19 - 18:22
Melissa B. Reaktenwalt

So, education was always a very big part of that for me.


18:22 - 18:32
Melissa B. Reaktenwalt

I had no idea that the financial education piece is going to become essentially my entire livelihood in my entire career, but it flows so seamlessly together.


18:33 - 18:46
Melissa B. Reaktenwalt

But on the side of the line, for easy, for that education first firm, the education focused firm, it was that, it was that desire to be accessible to folks, to not always come, and just with a hard sell.


18:47 - 18:52
Melissa B. Reaktenwalt

We're an asset management firm, and we do wealth management, and this, and this, and this, on the investment side.


18:53 - 18:53
Melissa B. Reaktenwalt

Yeah.


18:53 - 19:00
Melissa B. Reaktenwalt

We do those things, but also, we want you to understand what you're doing with your money and what that means, and why we're doing these different thing.


19:01 - 19:11
Melissa B. Reaktenwalt

But I think that education piece is not only crucial for clients, but it's also really nice relationship, sort of, you know, stronghold for that relationship, for us.


19:11 - 19:12
Melissa B. Reaktenwalt

So that's where we started.


19:13 - 19:14
Christopher Hensley, RICP®, CES™

I love it.


19:14 - 19:14
Christopher Hensley, RICP®, CES™

I love it.


19:15 - 19:22
Christopher Hensley, RICP®, CES™

We are bumping towards got about eight minutes left here, so you talk about something called your Personal Money Mantra.


19:23 - 19:27
Christopher Hensley, RICP®, CES™

How does that shape your professional approach to wealth management and advising clients?


19:28 - 19:28
Melissa B. Reaktenwalt

Yeah.


19:29 - 19:30
Melissa B. Reaktenwalt

Thanks for that.


19:30 - 19:33
Melissa B. Reaktenwalt

My personal money mantra is, earn all you can, say?


19:33 - 19:35
Melissa B. Reaktenwalt

Well, you can give all you can.


19:36 - 19:48
Melissa B. Reaktenwalt

Actually came from my CFRA C, which is a Chartered Socially responsible Investment Counselor, heard designation, It started from that.


19:49 - 19:56
Melissa B. Reaktenwalt

I think my initial money mantra was, Make what you can do a good job at that, and the earn.


19:56 - 19:58
Melissa B. Reaktenwalt

You can save all.


19:58 - 19:59
Melissa B. Reaktenwalt

You can get all you can.


19:59 - 20:01
Melissa B. Reaktenwalt

That's something that's very important to me.


20:01 - 20:09
Melissa B. Reaktenwalt

And I think comes through to all of my clients, whether that is their same money mantra or that where their mind is as well.


20:09 - 20:10
Melissa B. Reaktenwalt

Absolutely fine.


20:10 - 20:12
Melissa B. Reaktenwalt

And we'll talk to you, and we'll still do the work.


20:12 - 20:16
Melissa B. Reaktenwalt

But, I think that Just putting it out there, to say, these are the basics, right.


20:16 - 20:22
Melissa B. Reaktenwalt

How do we make sure that we're doing each of these things in a smart and efficient way?


20:23 - 20:26
Melissa B. Reaktenwalt

And that's gonna get you to where you want to be in your financial life.


20:26 - 20:32
Melissa B. Reaktenwalt

So, it's really just that, just living that on a day-to-day basis and also importing that into my clients.


20:32 - 20:38
Christopher Hensley, RICP®, CES™

I love it, I love it, So earn all you can, save all you can, give all you can.


20:39 - 20:39
Melissa B. Reaktenwalt

Love.


20:39 - 20:40
Christopher Hensley, RICP®, CES™

It.


20:40 - 20:42
Christopher Hensley, RICP®, CES™

What a great money mantra there.


20:42 - 20:47
Christopher Hensley, RICP®, CES™

Let's talk about industry trends, because you've been in the industry as long as you've seen.


20:48 - 20:48
Melissa B. Reaktenwalt

Quite.


20:48 - 20:49
Christopher Hensley, RICP®, CES™

A bit of stuff there.


20:50 - 21:00
Christopher Hensley, RICP®, CES™

In your experience, how has the financial industry changed over the past 18 years, particularly regarding sustainable investing and client priorities?


21:01 - 21:04
Melissa B. Reaktenwalt

Hmm, I think that be a focus on.


21:06 - 21:21
Melissa B. Reaktenwalt

A more trans parent financial services industry has been, has been a focus and has been a priority for the powers that be behind the theme, which I think is good.


21:21 - 21:31
Melissa B. Reaktenwalt

So I am not an advocate or over regulation or over disclosure, but I do appreciate that sort of spirit of transparency there.


21:31 - 21:35
Melissa B. Reaktenwalt

I think that has been the biggest change, is really the regulatory space.


21:36 - 21:53
Melissa B. Reaktenwalt

But I think that's also then created a shift where advisors are moving towards away from that sort of days or softer, cushion, and more into the independent faith and more into the RA and sort of see only space.


21:53 - 22:01
Melissa B. Reaktenwalt

I think it's pushing advisors more that way because of all of the sort of extra parameters that are put on advisors.


22:01 - 22:05
Melissa B. Reaktenwalt

And I'm not saying that's good or bad, but I am saying it's certainly happening.


22:05 - 22:07
Melissa B. Reaktenwalt

And certainly something that I'm seeing.


22:08 - 22:19
Melissa B. Reaktenwalt

And I think back to our other point about, you know, DNI initiatives and things like that within the industry, I think that, that has been a notable shift, again, for that conversation.


22:19 - 22:21
Melissa B. Reaktenwalt

It's been coming up a lot more.


22:21 - 22:24
Melissa B. Reaktenwalt

It's much more frequent and I think, ultimately, it will be much more impactful.


22:26 - 22:46
Melissa B. Reaktenwalt

And I think the last point on that, and kind of shifting trends and how that's impacted my view, and that in this position of the firm owner, I think is really, how am I going to best serve my clients for their priorities for making sure that they're sort of, whole person is taking care of on the financial side of the line.


22:46 - 23:00
Melissa B. Reaktenwalt

That's really been our goal as a firm, to make sure that we're doing that, and, we've just consistently, tried to evolve, as our clients are evolving, as regulation, and, oversight is evolving all of that stuff.


23:01 - 23:13
Melissa B. Reaktenwalt

It's hard to do, and it's a lot to manage, but it is certainly something that, as long as we're putting the client needs first and creating that space for that, or person, whole wellness, for your financial life.


23:13 - 23:14
Melissa B. Reaktenwalt

I think that's where we want to be.


23:16 - 23:16
Christopher Hensley, RICP®, CES™

I love it, I love it.


23:16 - 23:18
Christopher Hensley, RICP®, CES™

You know, I'm here in Houston.


23:18 - 23:20
Christopher Hensley, RICP®, CES™

So, thank Stanford, think Enron.


23:20 - 23:23
Christopher Hensley, RICP®, CES™

This, this is the time I got started.


23:23 - 23:32
Christopher Hensley, RICP®, CES™

So we're, you know, anything that we do is either self regulating or compliance, or fiduciary responsibility, it's helping move us away.


23:32 - 23:35
Christopher Hensley, RICP®, CES™

So what the term you use transparency, I think that's huge.


23:35 - 23:39
Christopher Hensley, RICP®, CES™

That's helping us, you know, get get to where we want to be as an industry.


23:39 - 23:41
Christopher Hensley, RICP®, CES™

Well, fantastic.


23:41 - 23:43
Christopher Hensley, RICP®, CES™

We're right here, at the end of the show.


23:43 - 23:51
Christopher Hensley, RICP®, CES™

I'd like to ask you, for listeners who would like to find out more about you, where can they find out more about?


23:52 - 24:00
Melissa B. Reaktenwalt

Sure, to very easy places on LinkedIn, I'm, Melissa erect and Walt, I'm the only one to relatively easy to find.


24:01 - 24:03
Melissa B. Reaktenwalt

And then, on our website, ...


24:03 - 24:10
Melissa B. Reaktenwalt

Financial dot com has got a great overview of all my stuff and who I am and what I'm out and about doing.


24:10 - 24:11
Melissa B. Reaktenwalt

So, two great resources there.


24:12 - 24:19
Christopher Hensley, RICP®, CES™

I love it, and Melissa, in the last few minutes that we have here, what have I forgot to ask you that you'd love to share with listeners today?


24:21 - 24:23
Melissa B. Reaktenwalt

I think we covered most of the ground.


24:23 - 24:29
Melissa B. Reaktenwalt

I don't think that there's anything else that you need to add in there, but this is a great conversation.


24:29 - 24:30
Melissa B. Reaktenwalt

I'm really happy to have been here.


24:31 - 24:32
Christopher Hensley, RICP®, CES™

Well, thank you so much for being on the show.


24:33 - 24:33
Christopher Hensley, RICP®, CES™

Melissa.


24:33 - 24:35
Christopher Hensley, RICP®, CES™

Have a great rest of the day there.


24:36 - 24:37
Melissa B. Reaktenwalt

Thanks, CTO.

Melissa B Reaktenwalt Profile Photo

Melissa B Reaktenwalt

Founder and CEO

Melissa B. Reaktenwalt is a financial services professional and wealth manager who is passionate about educating individuals and business owners about the power of smart and efficient money management. As the founder and CEO of EViE Financial, she strives to provide realistic financial planning and wealth management to young professionals, executive women in government and the private sector, and small business owner clients throughout the country, all from diverse financial backgrounds and with varied needs. During her more than 18 years in the financial planning industry, Melissa has focused on helping others create and sustain financial freedom and wellness through better understanding what their money has the potential to do for them. In addition to working with clients and small businesses directly, Melissa is a public speaker at regional and national conferences, as well as teaches in-depth educational courses focused on financial empowerment and actionable planning strategies.
When she isn’t running the firm or meeting with clients, Melissa enjoys live music, traveling solo, writing, and reading (preferably on a beach). She also takes time to engage with her community in various ways, including supporting local charitable organizations focused on education empowerment, financial literacy, and racial and gender equity. Most recently, Melissa has taken her knowledge of financial services and firm ownership to the speaking stage, sharing insights on marketing, organic growth, and firm culture with other practice owners and advisors.