Alternative Investment

‘Stay Invested’ Says $2 Billion Wells Fargo Advisor

Name: Jennifer Garcia

Firm: Wells Fargo

Location: Encino, CA

AUM: $1.6 billion

Forbes Rankings: America’s Top Women Wealth Advisors, Top Women Wealth Advisors Best-in-State, Best-in-State Wealth Advisors

Background: Jennifer Garcia grew up in the Los Angeles area, learning at an early age from her mother how to set money aside for different purchases and goals. A finance major at California State University, Northridge, she ended up working at T
. Rowe Price as a customer service representative after graduation. Garcia was a quick study and soon was promoted to a retirement planning specialist and at 26 she joined Wells Fargo as a financial advisor. Her team of four is all women and takes a multi-generational approach to managing high-net-worth clients.

Competitive Edge: “I don’t think you can ever talk to a client too much,” says Garcia. In recent years, between the pandemic and a slowing economic environment, clients are spending more time on the phone, she notes. “That means being engaged and discussing different options and scenarios… what we do today is more important than it has ever been.”

Biggest Challenge: “In this business you have to know how to pivot,” says Garcia. “It’s about making sure you’re educated enough on a variety of topics so that you can bring in whatever resources needed for clients.”

Investment Philosophy/Strategy: Garcia focuses on tax-efficient strategies for her clients, creating customized portfolios that include separately managed accounts, fixed income sleeves, ETFs and alternative investments, which she uses as a hedging strategy to minimize volatility.

Investment Outlook: Garcia is optimistic: “I do think we’ll see a better second half of the year—not necessarily because the economy will be right sided and inflation will go down dramatically, but more so because the market is forward looking.” As inflation starts to edge down, investors will increasingly look past those concerns, she predicts.

Best Advice: “Stay invested—there’s always going to be outside noise that makes you worry but you never know when the market is going to turn,” says Garcia. “Make sure that you have dollars on the sideline that you can put to use.”

Gender Diversity: “Naturally women tend to be more empathetic,” she describes. “In my experience as an advisor, more is disclosed to a woman because there isn’t as much pride involved, so conversations end up being a lot deeper.” Because there are many women in the industry, Garcia places a big emphasis on mentoring.

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