Caroline has been a passionate advocate for women since she first got into the business.  After joining Merrill Lynch as a Financial Advisor in 1984, she was asked to teach several classes on women and investing.  "We'd host an event and we'd have standing room only, because so many women wanted to be knowledgeable," she says.  "I saw right away that this is where I would spend the rest of my career."  In 2002, Merrill Lynch tapped her to head its first Women's Business Development initiative. 

Caroline joined Morgan Stanley in 2006 as U.S. Wealth Management’s first Chief Diversity Officer.  She then founded the Women's Employee Networking Group, became Head of Business Development for National Sales in 2008 and moved into her current position in 2009. 

So why are women so good at being Financial Advisors?
Because we take the time to listen.  We take to the time to nurture, to build relationships, and build trust.  And when you're dealing within the financial services industry, that is so important.  Many people think Financial Services is about the numbers.  But it truly begins with a relationship, and women are great relationship builders.

Tell me about the current Women's Employee Networking Group, and how it evolved after the joint venture.
In March 2010, we went to people who wanted to be members and asked them "What do you want the Women's Network to be?"  Three top priorities emerged.  They wanted to give back to the community, network and share best practices. 

How did you start it off? 
We started with something everyone across the firm could participate in: a “conversation series.”  Hosted from different parts of the country, people can participate in person or on the phone and we then hold a networking event afterwards. 

For one of our first events after the re-launch, we interviewed Shelley O'Connor, Managing Director and head of our Private Banking Group.  Afterwards we hosted a networking reception, and we gave them homework: meet three people you did not know before and figure out how you're going to stay connected.  A couple of the women who met realized they were both equestrians and go to the same events, but had never met before.  They're now attending horse shows and working together.  That would never have happened without their homework!

Who else have you hosted? 
We've had many senior leaders such as:

• Greg Fleming, Managing Director and President of Global Wealth Management and Morgan Stanley Investment Management
• Harold Ford Jr., Managing Director and Senior Client Relationship Manager,
• Jeff Hack, Managing Director and Chief Operating Officer of the Brokerage Unit
• Carla Harris, Managing Director and head of Morgan Stanley Investment Management’s Emerging Manager Program
• Michelle Oroschakoff, Managing Director and head of GWM Risk Management
• Lisa Jones, Managing Director and Global Head of MSIM Sales

Our goal is for colleagues to meet our senior leadership.  And we ensure we showcase both men and women leaders at the Firm. 

Why men as well as women? 
When we created this network, we started with women. But increasingly men called and asked, "Do you mind if I attend?"  We started with 150 members and we've grown it to 1,500 members of which approximately 30% are men.  There's been a groundswell of all employees supporting women.

What's some of the other homework you've given attendees?
When Lisa Jones spoke last summer, she said that lately, “Everybody is emailing and not talking personally to people.”  So the homework we gave was the next time that you’re about to send an email to a colleague in the same building, go and have that conversation face-to-face. 

When Harold Ford spoke last fall, we asked him what made a good leader, and he said ‘being a good listener.’  So the homework was to have a conversation and listen.  The response we got was very interesting: "It's hard!"  That is so true, but it was so worthwhile.

How are you fulfilling the desire to give back to the community?
Last November Joan Steinberg, Managing Director and President of the Morgan Stanley Foundation, spoke about what we give to, how we give and how individuals can contribute during our Annual Appeal.

And what was the homework? 
We encouraged participants to learn more about the Morgan Stanley Foundation and to come up with different volunteer activities for our Global Volunteer Month this coming June. 

So what are some of the other things you’ve accomplished? 
In the last few months we've started a marketing effort focused on the woman investor, with pilot programs in Houston, Florida, Chicago, and Boston.  Financial Advisors are getting together to focus on women as clients within their markets.

The Firm re-launched the Women’s Business Exchange which used to bring our top women financial advisors together every other year for a meeting.  We brought them to Westchester where they met with senior leaders like Greg Fleming and Andy Saperstein and then focused on their business and professional development. They also received the opportunity to join a peer-mentoring circle made up of women around the country and we gave them coaching sessions.

How do they do that? On conference calls?
Yes.  The Firm is unique in that it offers this monthly conference call where an advisor takes the lead to “host” a conversation around best practices and discussions on collaborations. 

We also host small lunches for women from different areas of the Firm so they have additional networking opportunities.  And for the last six months, we have been liaising with the Women's Networking Group in Australia to share ideas.

It sounds like things are really picking up steam.
Yes they are.  And you know what?  This is really a team effort.  If you have an idea, go ahead and run with it because it can only add to the momentum. 

Sharon Cunningham’s 22-year career as a Portfolio Manager and Financial Advisor has been dedicated to creating a successful and diverse practice at Morgan Stanley Smith Barney in midtown Manhattan.  Her success was recently honored by the Greater New York Chamber of Commerce for her outstanding contribution within the financial industry, as part of their Women's History Month programming. The Chamber also recognized Sharon for her financial services work with women, intergenerational families, and philanthropic foundations.

We recently chatted with Sharon to learn more about how she built her thriving practice.

How did you get to where you are today?
I began my career as a financial planner with a wholly-owned subsidiary of American Express, IDS Financial Services, which specialized in financial planning.    In an effort to broaden my understanding of money management and investment structures, I switched over to Shearson Lehman, another American Express subsidiary at the time.   I built the business organically and stayed with the firm through several mergers, which finally ended with me at Morgan Stanley Smith Barney.

What brought you into the financial field?
As a child, when my extended family would get together, the conversations often turned to stocks and bonds and the economy.  An intrigue and interest in wanting to be part of their conversations inspired me to learn more about these concepts.  As a business major in college, I studied both finance and marketing.  Now being a Financial Advisor gives me the opportunity to apply those skill sets in an interesting way.

Is there anything in particular that makes you glad you chose this profession?
In this profession, I believe you have to have your clients’ interests at heart.  Some people are primarily driven by the markets, research and overall accumulation of wealth; but what especially inspires me within this profession is getting to work with really interesting people through all stages of their lives.  I think you have to have a strong affinity for people in order to thrive in this industry.

What do you think has been key to your success?
It’s hard to pin it down to any one thing, besides hard work, of course.  But while I have a very diverse client base, I have strategically offered my financial services to groups traditionally under-served by the mainstream financial industry, including women, same sex and domestic couples, their families, philanthropically-minded individuals and multi-generational families.

Your hard work was recognized in March when you were honored by the Greater New York Chamber of Commerce. 
I was honored by the New York Chamber of Commerce as part of their programming for Women’s History Month for the accomplishments that I’ve had in my field.  I was acknowledged for concentrating on the women’s market - assisting women in transition, whether it be as business entrepreneurs, at the time of divorce or an unexpected death, funding the education of their children, or in retirement.

Has being a woman been an advantage, disadvantage or non-factor in building your business?
When asked this question, I’ve answered like this:  Early on, I think being one of the few young women in this field had a unique advantage since many times I was underestimated.  Anytime you go into a situation when you’re underestimated and you know your stuff, it’s easier to be impressive.  I don’t think that’s as applicable today, but it was certainly a help when I got started.  Also, I think being a woman in this field at a time when there weren’t many, helped connect me to other women as clients. 

How do you balance your professional life with your family life?
Very carefully.  I have a great support system at home; my family is very supportive of what I do.  But I don’t know anyone today who’s trying to manage all aspects of life and who would use the word “balance.”  Everyone has many dimensions of life that are important to them; we all have a lot of balls in the air and the goal is to try and keep them in the air.  So if all the balls are in the air, you can hold your head up and call it a good day.  I don’t know if I’d call it balancing, I think I’d call it juggling.

Are you satisfied with the way you juggle?  Would you like to do anything differently?
I am satisfied, and wouldn’t change anything.   Of course, I think everyone would like to have more time all around.   I am very fortunate and proud to be a wife and mother, as well as a professional woman and active member of my community.   This all makes me feel fulfilled on a regular basis.

If you had a chance to do it over again, would you do anything differently?
I would not do anything differently.  Looking back, and as part of life, I think we all may have regrets or made mistakes.  I try and learn from those experiences and move on in a positive and productive way.  I believe some of the toughest hurdles or challenges one faces in life helps to mold individual character.  And, it’s really essential to have those personal life lessons to become the person you’re destined to be.

For someone who’s coming out of school, or even looking for a mid-career change, would you recommend MSSB as a firm to be part of?
Absolutely.  I think the people at MSSB are very smart, engaging, and resourceful, especially to someone aspiring to become a financial advisor.   There is tremendous intellectual capital at this firm, as well as a culture that is one of being supportive, nurturing and mentoring, which is essential to the success of anyone entering this field.  It’s a great place to grow and practice your craft without feeling isolated or alone in that endeavor. 

© 2012 Morgan Stanley Smith Barney LLC. Member SIPC.

Robin Hamilton, Financial Advisor and First Vice President at Morgan Stanley Smith Barney, has worked in the financial industry for more than 17 years in Pittsburgh and Naples, Fla. Prior to that, she worked in the hospitality industry, which she says was good experience for her financial advisor role because the job taught her how to listen to clients and put in as much time as necessary to get the job done.

Robin is also an active member of her community. Although she already sits on the league for the Naples Philharmonic Symphony and is a member of the Conservancy of Southwest Florida, she has plans for further involvement in Naples by applying for the Leadership Collier Program.

In this interview with us, Robin talks about her interest in leadership and community, and strategies for boosting her business, which rose substantially last year.

What was it like working in the hotel business?
The best training I got was from the Ritz-Carton Hotel Company. I learned to listen to what people want first before you try and sell something to them. My role at the Ritz-Carlton wasn't a 9-to-5 job, and neither is being a financial advisor. You do whatever needs to be done, no matter how long it takes.

How did you end up in Pittsburgh?
When my husband was promoted, we moved to Pittsburgh, and I quit the hotel business. I decided that rather than work for the Ritz-Carlton Hotel Company, I wanted to work for a company that would send me to the Ritz-Carlton. I didn't know anyone in Pittsburgh, but I wasn't afraid because no one knew me there, and I could go back to the hotel business if I failed. Fortunately, one of my old clients worked for the NFL, and when I mentioned that I was leaving, I asked him if there was someone he recommended I talk to, and he said Dan Rooney.

The same Dan Rooney who owns the Pittsburgh Steelers?
Yes! I think if I had grown up in Pittsburgh, I would have been afraid to call him, but I called him and said, "Can I take 20 minutes of your time and learn about Pittsburgh from you?" We spoke, and he gave me contacts and even referred me to someone at Heinz, whose corporate headquarters is in Pittsburgh.

What's it like now being back in Florida where you went to college?
We're in Naples, which is a small town, but there is a lot of money here, and it's very competitive. We have every investment firm you can think of. Right now, I'm spending three to four nights a week at marketing events, connecting people and focusing on my business. Last year, my business was up substantially.

I understand you are involved in your community, too.
Yes, my husband and I determined Naples is and will be our home forever, so I'm applying for the Leadership Collier Program.  It will help me take a more active role in my community and understand the town I call home much better. I'm also a member of the Conservancy of Southwest Florida, and I'm on the league for the Naples Philharmonic Symphony. I'm also involved with a food and wine group, which is a big passion of mine. For some of my clients, I will do wine tastings. One thing I've learned is that you tend to work with people that are like you. Your book of business becomes a reflection of you.

What's your strategy with your clients?
To be successful in this business, you have to care, and my goal isn't to get the highest return. My goal is to get a decent return, based on what my clients’ needs are for the long-term. I believe my job now -- more than ever -- is about wealth preservation instead of getting a higher return. I really want to protect the downside.

What do you like about your job?
In the hotel business, customers come and go, but in my business now, I have long-term relationships. I've had some clients for 17 years. I like making a difference in people's lives, which sounds corny, but it makes me feel satisfied.

© 2012 Morgan Stanley Smith Barney LLC. Member SIPC.

The list, which appears in the April 16 issue of the weekly, ranks advisors according to assets under management, revenue produced for the firm, regulatory record.

• View the list of Top 100 Financial Advisors.
• Read the Barron's article for more about the top FAs on the 2012 list.