Rhonda Salins joined Morgan Stanley Smith Barney more than 30 years ago—and she’s as passionate about the profession as she was when she first started. For Salins, who is Senior Vice President Wealth Management, based in Chicago, the work is more than just a job. It’s a way to show women how to take control of their financial lives. We discussed her early years in the profession, the evolution of her work, and her role helping women become financially savvy and independent.

Tell us about how you got started?
When I graduated from the University of Illinois in 1976, I worked at The First National Bank of Chicago, in their First Scholar’s Program. It was a prestigious bank officer’s training program that allowed me to rotate through the bank. I went to business school at night, at Northwestern’s Kellogg Graduate School of Management. But I didn’t like banking. It was quite conservative. I didn’t like being told what to do, when to do it. If I was finished with my work at 3 pm, I couldn’t get up and leave.

But I liked finance, the numbers. I thought about what I could do that would involve those interests. So, I interviewed with a number of financial services firms and was hired by what is now formerly Smith Barney, in a training program. I went to New York, got my licenses, then returned to Chicago. At the same time, I got married and, two years later, had a baby.

How did having a baby affect your work?
I realized that, if I had a computer at home, I could still maintain my clientele and work. The company agreed. They had to put wires through the wall in my neighbor’s apartment. I worked from home for six weeks, then went back to the office. About 20 months later, my second child was born and I arranged to work from home part-time, and the office the rest of the time. Twenty-two months after that, I had my third baby and the firm allowed me to have a quote machine at home. I worked from home and the office for the next 10 years. Now my son jokes that some kids grow up learning about "Sesame Street" and he grew up learning about "Wall Street!"

How did you find clients?
When I started, I cold called. And I lived in a high rise. The doorman helped; he gave me names of likely people. I got one lead, who happened to be a CPA. He led me to other clients. Some I still have today.

I started out by focusing on fixed income. Now, I’m part of a team and my work is mostly fee-based. It’s important because the business has become very complex. We have a portfolio manager and a CFP who has experience with trusts and estates planning. It’s helped me to develop a wealth management practice more efficiently. It’s also allowed me to be able to go to networking events and try to develop new business.

Have you been able to balance the demands of home and work?
It’s the beauty of this career for women: the flexibility. You do what you want, when you want to. Nobody’s telling you what to do and how to do it. What a wonderful job for women who want to be mothers. My children are now 25, 23 and 21. My biggest fear was they would suffer as a result of my being out of the house. However, they’re very proud I have work that is satisfying and meaningful.

I work a lot with women. I feel very passionate about women being in charge of their financial destiny. I love the fact I’ve been able to make a difference.

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