PORTLAND, Ore. (KOIN) — Lisa Brumm knows money so you don’t have to.
“It’s a taboo subject, but in my world, let’s play. Let’s think about all those possibilities,” she said.
After 20 years at another firm, Brumm started My Financial Girlfriend, her own financial advising business in a small office in Portland’s Pearl District.
“Since I’ve opened I get a lot of women in the industry, ‘How can I do what you’re doing, Lisa?’, she told KOIN 6 News. “I even get male advisors and they go, ‘Wait a minute, she’s on to something.'”
Instead of focusing on capturing fees, she’s trying to foster client relationships — and it’s working. In her first 7 months — from May 2017 through the end of the year, she had about 200 clients. Of those, 60% were women and 40% men. From January 1 to present, she’s helped 571 clients — 47% women and 26% men.
“I want to make it easy and make people realize that it’s that empowerment piece of it that it shouldn’t be hard. It should actually be peaceful.”
Recently, several of her clients showed up to help celebrate the success of her business.
“The words ‘My financial girlfriend’ literally flew out of my mouth under stress,” she said. “I was pulled up on stage and I said to a group of business women, I said something like, ‘We’re all in business, making coffee dates and lunch dates. Why aren’t we going out talking about money with your financial girlfriend?'”
In the US, only 16% of financial advisors are women. But, like Brumm, women are opening more small businesses at a faster pace than men.
“I want more women to have that same role that I have,” she said.
While taking charge isn’t always easy, it does make sense.
“While I do work with people that have less than 2 nickels to rub together we’re attracting just as many people that have multi-millions because,” she said, “they want to be treated like a person.”
Find My Financial Girlfriend on Facebook or by email at email@example.com
*Editor’s note: Lisa Moon Brumm is an investment advisor representative of Woodbury Financial Services Inc.*