After getting her first job in pharmaceuticals at 22, Jen McCoy opened a 401K and discovered a budding fascination with personal finance. But her first experience with a financial advisor a year later was a disappointment – heavy on investment strategy and sorely lacking in the financial planning and life insurance advice she and her husband really needed.
Some 14 years later, after leaving behind her career to be a stay-at-home mom, McCoy was ready to return to the workforce, but not sure how. Two ideas rose to the surface: She was still fascinated with personal finance and she wanted to give other families the financial planning experience she didn’t have in her twenties.
As an Everence financial advisor, she’s been able to do just that.
“I love hearing people’s stories, who they are and what’s important to them,” says McCoy, who works in Everence’s Lincoln Highway office in Lancaster. “Not just financial goals, but the dreams they have for their lives, because dreams usually have a price tag.” McCoy is one of a growing number of women advisors at Everence Financial—or financial consultants or planners as they’re known at Everence. Nationally, 35.5% of financial advisors are women. At Everence Central Penn, that number is closer to 50%, and it’s no accident. It’s been an intentional leadership priority as well as a nod to statistics showing that 55 percent of women between 25 and 34 prefer working with female financial advisors, and 70 percent of women will change their financial professional within a year of being widowed. What’s more, Boston College’s Center on Wealth and Philanthropy estimates that women will control two-thirds of the nation’s wealth by 2030.
While all Everence financial professionals take a caring, holistic approach to financial planning, some women clients simply prefer a woman financial planner in much the same way they prefer a woman doctor, says Everence financial planner Amanda Rock, who has worked at the Lancaster office for 23 years.
“A lot of it starts with listening and making someone feel like they’re heard,” Rock says. “Women feel like they’re heard by other women.”
“A financial consultant can be a slightly more objective but caring person to walk the path with you in times of transition,” says Mackenzie Snader, a financial consultant in Everence’s Mount Joy office. People need support during many life transitions, such as a job change, a home or car purchase, the birth of a child, funding a college education, retirement and Medicare planning, and the death of a spouse.
“We get to know them as people and tailor their finances so it matches the people they are,” McCoy says.
That means understanding their deeply held personal and faith values and helping clients live in a way that honors their priorities. For instance, Everence offers tailored portfolios for clients who want to invest in only green companies as well as those who want to avoid investing in tobacco- or weapons-related companies. Everence also recognizes that not everyone has assets to invest, but they still may need financial planning advice.
All Everence financial consultants and planners see helping people with their financial needs as a calling. Each has a unique life experience that they bring to the table. For McCoy, being an Everence financial consultant is the perfect marriage of her analytical side and her nurturing side.
“I really love what I do here,” she says. “I just cannot believe how perfectly this work fits who I am.”
For Rock, mentoring new women financial consultants like Snader and McCoy is also a calling.
“The women in our company get along so well and we’re such cheerleaders for each other,” Rock says. “We’re just really champions for each other.”
And for the clients they serve.
For more information about Everence, visit their website at https://www.everence.com/.