Aside from the difficulties in guiding clients through turbulent times, one Merrill Lynch financial advisor says her biggest challenge is growing her team.
Christina Boyd, a 51-year-old advisor who started interning at the wirehouse while studying psychology at Colorado State University, currently has $1.9 billion in client assets, according to Forbes.
Boyd says the current market, at a time when equities and bonds have dropped at the same time, is “tough,” as clients sometimes find bonds harder to understand than stocks, the publication writes.
“One of the most difficult things to understand when you're dealing with investments is that things get factored in long before they ever happen and it's our job to try and figure out how much of that event is then factored in,” she said, according to Forbes. “I spend a lot of time going over that with clients.”
But Boyd's toughest challenge is with staffing, the publication writes.
“I'm constantly wanting to expand my team and continue to deliver the highest level of service,” she said, according to Forbes. “I'm finding there's a bit of a challenge in finding good help that aligns with our values goals and work ethic.”
Boyd does not view being a woman in a traditionally male-dominated business as an obstacle, however — far from it. According to Forbes, Boyd steered away from her initial decision “to do things just like a man” and eventually opted “to stay true to herself and saw her business explode.”