Interview with Sara Grillo , CFA : Marketing & Technology Consultant , Ex- Equity Research Analyst…

Work in a bar. That was a friend’s suggestion for Harvard graduate Sara Grillo after she was laid off from Lehman Brothers Holdings Inc…

Work in a bar. That was a friend’s suggestion for Harvard graduate Sara Grillo after she was laid off from Lehman Brothers Holdings Inc. in 2008 on account of The Global Financial Crisis.

Sara Grillo, CFA, is a top financial writer with a focus on marketing and branding for investment management, financial planning, and RIA firms. Prior to launching her own marketing firm, she was a financial advisor at Empire Wealth Strategies. Sara graduated from Harvard with a degree in English literature and has an MBA from NYU Stern in quantitative finance.

From Sara Grillo…

When I was a financial advisor for many years, I found that there was so much bad financial advisor marketing. That the industry was riddled with cliches and when I tried to express myself, I didn’t get very far and I was constantly frustrated. I established this podcast to help financial advisors as I am a talented writer and a talented communicator. Listen to this podcast to figure out how to improve your social media, website, and ability to drive leads online. I have such a gift to give to you and it is the gift of improved communication for financial advisors.

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Excerpts from the interview :-

Sara, a pleasure having you for this interview.

Q1) When did you realize finance was your passion? Was there a eureka moment in your life when you decided that you wanted to start your own firm? Tell us about your journey from an analyst and portfolio manager to starting your own business as a marketing consultant to the financial industry and a Youtuber. How this transition has shaped you as a person?

Sara: When I was about 18 years old, I was a penniless freshman at Harvard and I had this horrible job as a waitress, and I saw a ticker tape in Post Office Square in Boston. I stood there staring; I was fascinated by it. I went home and I started reading the stock section of the Boston Globe and my passion for finance was born and I started reviewing company and started to gather financial reports of the company and then afterwards I created a paper portfolio for myself. I was an English major, but I had a passion for finance. I took an internship at Fidelity Investments. and right after college I got a job in marketing at JP Morgan as a RFP Writer. I was glad just to have a job, but I wanted to be a portfolio manager, so I decided to take the CFA.

I also worked as a buy side and sell side analyst . First as a research assistant for a portfolio then as an equity analyst. Then finally i was associated with Lehman Brothers as an Equity Research Analyst.

Eventually I started my own business because I had this creative tendencies and loved challenges. The constraints of Corporate America were not for me I realized that eventually. I observed that I thrive when I did my own thing. So I started working as a marketing and technology consultant to the financial services industry. It’s been 4 years but so far its been great. I also have a Youtube channel in which I talk about my experience of giving CFA Exams and how I dealt with that , Portfolio Management , Equity Research Models and how Financial Advisors can serve their clients effectively. My vision is to become a Top Financial Blogger and a widely followed Youtuber. I have 7k subscribers right now . I am very grateful for that. But it is my goal to have a few million. And I think I am getting there. :)

Q2) What is the importance of financial literacy?

Sara: Financial literacy is important because it equips us with the knowledge and skills we need to manage money effectively. Without it, our financial decisions and the actions we take — or don’t take — lack a solid foundation for success as there are lot of people out there they can take advantage of us if one doesn’t understand how money or finance works.

Q3) Financial advisors only have so many hours in a day, and there are certain limit to how many customer relationships they can develop and maintain. The coronavirus pandemic presents an added roadblock, with clients demanding more attention in a time of economic and public health crisis. Do you think financial advisors should take a step back and evaluate what are their highest priorities? Do shed some light.

Sara : I think that pandemic has kind of forced financial advisors to adapt new ways of communicating that they never would have accepted willingly. Now during the pandemic it is extremely difficult for them to get a meeting with a client.So , naturally business closure is getting adversely affected and lots of financial advisors for the first time have to actually hone up their marketing skills and they are also able to understand the impact of getting business through referrals or word of mouth. So for them you know I am offering a membership at a very cost effective rate through my blogs for 35$ a month to learn various social media marketing tools.

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But the last few months have also provided an opportunity for advisors to experiment with new growth strategies, some of which are worth implementing for the long-run. It’s important to have an entrepreneurial mind-set especially during these uncertain times.

Q4) As a marketing consultant to the financial services industry what kind of investment philosophy or values you think a financial advisor/wealth manager should develop when it comes to managing the client’s money or wealth?

Sara: I don’t know this question is kinda out of my wheel house. However financial advisor should empower their clients and hand hold them with respect to their goals, their timeline or horizon of investment, their tolerance to experience risks of various types, and their individual capital status or needs.

Q5) Suggest any strategies for Financial Advisors with which they can Step Up Their Game on Social Media.

Sara :In today’s day and age , what are the typical ways that a financial advisor can attract new clients?

• SEO optimized blogs and Youtube videos.

• Social media sites such as LinkedIn , Facebook , Twitter etc.

• Podcasts about retirement , college planning and other wealth management related topic

• Online or in person seminars

• Email newsletters

• In person networking events

• Referrals/word of mouth

The latter few financial advisor lead generation strategies have been around for ages , while the first three ways for financial advisors to get leads are internet- based and relatively new to the game. It doesn’t really matter which method you use , what’s important is how well you execute in it.

And, yes , it absolutely is possible for a financial advisor to get leads from the internet.

Q6) What are the books that have greatly influenced your thought process?

Sara : Republic : Book by Plato. It’s a classic textbook. I know this is a non-finance book. But according to me It is Plato’s best-known work, and has proven to be one of the world’s most influential works of philosophy and political theory, both intellectually and historically.

It talks about a group of prisoners that are held in a cave where they see a shadow and they think that those shadows are the reality and when they emerge from the cave only to find an entirely different world. Reality was not what they thought it was. I was really inspired by this book truly.

I generally combine finance and literature whenever I write articles for my blog.

Q7) What is the importance of Equity Research Model in Today’s Equity Market? On a broader role it is also used to signify the possibility of growth or decline in share price of the company. According to you what is the main objective of this critical analysis?

Sara: Equity Investment when done in a systematic manner along with equity research recommendations of buying , selling and holding a stock can be considered as good calculated risk which has proven to return many fold for a good number of investors. The main objective of equity research is to provide investors with detailed financial analysis and recommendations on whether to buy, hold, or sell a particular investment and well researched information to the market. A lack of information creates inefficiencies that result in stocks being misrepresented

Q8) How do you encourage individuals particularly women to think about their financial future without them feeling overwhelmed ?

Sara : One of the things that truly makes me hopeful and optimistic is that the huge impact of internet in our personal as well as professional life. I have seen so many individuals around me make tons of money by taking up freelance assignments or building their personal brand or business on social media or providing consulting services to the industry. Internet surely has opened up the door of infinite possibilities. Especially for women or someone like me who has four kids . I personally have achieved a lot in my business by helping financial advisors. On the same hand I believe that one needs to have boundless curiosity and immense inner drive to truly take an advantage from the Internet. So many individuals who think they have limited resources or are facing constraints in terms of geography , family commitments or simply Lacks money. If they have the internet connection , I think they have a lot. And that’s where they can get started. This way they are taking their financial future in their own hands.

Q9) As one of the most eminent and recognized individual in Investment Management and Financial Markets space, what do you see are the greatest unanswered questions in financial industry today?

Sara : I think the greatest question would be what is going to happen to the United States economy and the reason is that US has deviated from Capitalism to Socialist as it was traditionally defined due to interference of political interest in the stock markets. What does this means for United States future? That is the honest question I have.

Q10) last question, any advice or tips for an aspiring upcoming generation who wants to build their career in the investment management space. Should they go for CFA/FRM/CAIA or MBA in Finance or MS in Financial Engineering / Mathematical Finance/Quantitative Finance. What kind of role would you suggest a fresh graduate to take up when they graduate from a college? Sales role or an analyst one!? Which one has a high growth trajectory in terms of learning the nuances of the industry?

Sara : This question is actually very difficult for me to answer. The degree and coursework choice differs from person to person. One can do everything right like get a perfect grade , get a good SAT score , go to Harvard University or NYU which I did. Be an investment banker/lawyer/management consultant / or a doctor and still feel unfulfilled about themselves. Honestly this traditional and conventional career path had put a lot of unnecessary pressure on me. I felt like I had wasted 10 years of my life trying to be perfect. When instead I should have focused on what drives me, what makes me happy , what empowers me. So my piece of advice to an aspiring generation is just focus/introspect and start with yourself and the path rather than the degree and designation. Know what possible paths are Start with yourself and self knowledge and be empty & silent after you do that then only you can make a sound decision.

Thank you all for reading and a big thanks to Sara Grillo for collaborating in today’s post!

It’s a pleasure!

Also , do open the links mentioned below. It has all the essential details about her social media handles , portfolio , podcast and event details.

Website : https://saragrillo.com/

LinkedIn : https://www.linkedin.com/in/sgrillo/

Twitter : https://twitter.com/grilloinvest