Identify: Hollis Montgomery
Agency: Morgan Stanley Wealth Administration
Location: Atlanta, GA
AUM: $7.1 billion
Forbes Rankings: America’s Prime Subsequent-Gen Wealth Advisors, Prime Subsequent-Gen Wealth Advisors Finest-in-State, Finest-in-State Wealth Advisors, America’s Prime Ladies Wealth Advisors, Prime Ladies Wealth Advisors Finest-In-State, Finest-In-State Wealth Administration Groups, America’s Prime Wealth Administration Groups Excessive Internet Price
Background: An Atlanta native, Hollis Montgomery grew up across the wealth administration business due to her father, who had a 30-year profession as an advisor. “Although I’m younger, in a means I’ve had publicity to this business my complete life,” she says. Montgomery went on to review within the honors program at The College of Georgia, incomes her bachelor’s in finance and a minor in client economics in 2014. She began at Morgan Stanley—the place she had beforehand interned—proper after faculty, labored her means up and finally took over her father’s enterprise in 2019. She prides herself in tk% shopper retention in the course of the transition and says that enterprise has greater than doubled since then.
Mentors: Her mom, who she describes as charismatic and energetic. A cardiac ICU nurse, she inspired Montgomery to dream huge and be courageous.
Aggressive Edge: A number of it simply boils all the way down to being extremely ready and educated, says Montgomery. “I often is the youngest one within the room, which I’ve no management over, however I at all times work my hardest to be the neatest within the room.”
Classes Discovered: “Issues that appear to be failures or errors can typically be alternatives in disguise,” says Montgomery. She describes studying a worthwhile lesson after initially dropping out of New York College, the place she had initially enrolled to review psychology. She made a plan earlier than coming residence—enrolling on the College of Georgia’s honor program—and switched to finding out finance. “On the time it appeared just like the worst factor that had ever occurred to me,” she remembers. “Sitting right here now, 31-year-old me says it’s the best factor that ever occurred to me.”
Greatest Problem: “Being a lady on this business is a big benefit, nevertheless, forging a path with out loads of predecessors on this business does current some challenges—I’ve to make my very own playbook.”
Funding Philosophy/Technique: What issues most, based on Montgomery, is knowing shoppers, their targets and their danger tolerance—solely then are you able to give you a diversified funding technique that’s personalized to every particular person. “I delight myself on ensuring we’re wrapping our arms round the entire shopper—I like to consider myself because the core backer of a household,” says Montgomery. Meaning everybody within the household must know her title and face. “I’ve my arms wrapped round a whole shopper’s community—and that features attending to know and serving as a sounding board for youthful generations.”
Funding Outlook: Montgomery stays bullish with regards to long run sentiment. “It’s additionally an thrilling time for money and bonds, for the primary time in a very long time,” she notes. What’s extra, Montgomery likes to constantly revisit shoppers’ monetary plans throughout instances of market uncertainty. “If you understand your shopper effectively, then market turmoil is a good time to return and replace their monetary plan, particularly for folks extra hesitant to take action,” she says.
What Retains You Up At Evening: Montgomery cites working very carefully with an excellent variety of shoppers who’re both getting ready to promote a enterprise, conducting minority gross sales or creating worker inventory possession plans. “As huge shopper transactions or property planning deadlines method, I at all times need to be certain that each i is dotted and each t is crossed,” she says. “These are huge, as soon as in a lifetime occasions for shoppers who’re like household.”
Favourite E book/Film/Passion: Past spending time along with her husband and two younger kids, Montgomery likes to journey—she’s already checked skydiving, bungee leaping and shark cave diving all off the bucket record.