Although wealth management is a second career for Mary Gibbons Gardiner, it has always been her primary passion. Mary is now a Financial Advisor and Chartered Retirement Planning Counselor, CRPC® in the Purchase, N.Y. branch office of Morgan Stanley Smith Barney. She started in this business by attending Pace University at night, while working in banking, for her financial planning coursework, completed in 2001. From there she went on to assist local families with comprehensive financial planning. Mary joined legacy Smith Barney in 2006 to build a thriving practice. Today, she specializes in wealth management for high net worth individuals, small business owners, and inter-generational families, and regards every challenge--for herself as much as her clients--as a new opportunity.

How did you get started in the business?

As a young professional working on Wall Street, my boss told me, "Put money in your 401K--it will reduce your taxes." Fully funding my 401K back then had a great impact on my own personal wealth, and as a result I've always been interested in retirement planning. This is something that I have always had a passion for.

I spent 11 years in banking, working with Fortune 200 companies to provide solutions for their corporate cash management needs. I enjoyed my banking career thoroughly, but in 2006, after merger number eight in my career, I decided I would make the jump to Smith Barney and leverage my planning experience to build my wealth management business from the ground up.

What sort of work did you do on Wall Street?

I started at a large computer company, marketing software to the senior management of international banks. After about five years, a recruiter called me and said, "You really should look at cash management." So I went to work for a division of Chemical bank, called BankLink, selling technology solutions to the banking world. That's where I developed expertise in corporate cash management.

I was later recruited to what was then called First Chicago—now JP Morgan Chase, where I became a Certified Treasury Professional, working on providing cash management solutions to large corporations around the country. During the 16 years of my technology and banking careers, I was involved with 8 mergers – a great preparation for today’s changing marketplace!

What was your first experience with mergers?

When I started my career with the computer firm, I went through two mergers and three major layoffs. Because of this experience, I learned some core principles that I think are still important today. For example, if you keep on producing and being able to see the light at end of the tunnel, you will thrive. I've always landed on my feet. That experience allowed me to become a change agent—I am always embracing change and seeking to learn something new.

Speaking of staying positive through adversity, you also became a Financial Advisor during a particularly rocky time in the industry. How have you coped?

I think the experience I gained from my financial planning and banking years were very helpful to me; I have always believed in communicating with clients – even if the news is bad. I think clients appreciated this, especially during such a rocky time. I also found that clients were asking me to help their friends, parents—the people most important to them—during this time.

So you are still turning lemons into lemonade?

I have been very blessed during my life and I believe, even during this volatile time, there are opportunities to make a difference.

Do you focus on any particular type of client?

I enjoy working with those high-net worth individuals and families who are looking to put a plan in place—leave their legacy. I also often assist clients and their parents with retirement planning—it is never too early to start! In addition, with so many small businesses being formed over the last few years, I have found that many of the corporate executives I work with may be married to a small business owner—so I have built my expertise in this area as well. I have found inter-generational planning, in particular, to be very rewarding as I get to know the extended family of my clients and help understand their goals and dreams - as well as what keeps them up at night.

So one thing just led to the next?

Well, I've used a couple of strategies to build my practice. Only a small percentage of Wealth Managers are female--we're not the majority. That's a wonderful opportunity because at some point, 90% of women will be in charge of our financial futures because we generally outlive the men!* I think families realize that both parties need to be in the loop on leaving their legacy—I act as the CFO of my clients’ families, the angel on their shoulder, and when necessary - the taskmaster to keep us on track!

And your other strategies for business development?

I'm a power networker. I believe in being able to connect people and help them, and I think that always comes back to you. Clearly, the core of my practice is planning, investments, and risk management, but we also help clients develop their "dream team" including that great CPA or Attorney. Sometimes my clients also need another resource—we are the sandwich generation—so often it can be someone who can help mom or dad as they age. I am very fortunate to have a wide range of resources, to assist our clients.

I also offer to speak to groups on financial planning topics. I conduct sessions on Retirement Planning and Market Trends, and I enjoy offering a Women and Investing Seminar as it helps to make sure both the male and females in the family are financially literate.

The most rewarding way clients come to me is through my existing clients, as hopefully if I have been able to help them, I can help their friends and family members as well.

How do you balance all this with having a family and children?

Not well! (laughter) I'm very fortunate that my husband of 20 years, Tom, has always been extremely supportive of my career. And our daughter, Laura, who's 13, is a great kid. She's the first one to say, "When are you coming home?" so it is never a perfect balancing act. But I think our daughter appreciates that I have a career that I love. I do think it is important to schedule time for family - family is typically at the core of what is important to our clients, and it is for us too! I also have wonderful colleagues who work with our clients – Bert Anderson, my Registered Associate – is especially helpful with clients so I have a great team both at home and at the office.

Do you have a strategy for completely turning everything off?
 
We make time on weekends to be with the family. My clients know I am available if needed and are very respectful of my time. However, as their “go-to” person, I know that if a client calls me on a Tuesday night, as one recently did, they need me to help them connect with a resource or listen about a critical change in their financial life. I enjoy what I do and being a part of my clients’ lives. That means being there not only on good days, but also during trying times as well. I feel very blessed to working here. I've been very fortunate.

* Investment News, “Making a New Widow’s Life Easier”, Feb 2008
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