59. Developing the Family Legacy and Multi-Generational Planning with Vanessa Martinez, Managing Director, Partner at The Lerner Group and Co-Author of Family Value at Risk

We are excited to welcome Vanessa Martinez In The Suite. Vanessa is on a mission to break the standard of male-dominated partners and advisors within the financial planning industry. 

Vanessa is passionate about guiding families through all aspects of their wealth, including estate coordination, asset management, and legacy planning. One of her goals is to build meaningful relationships with family to help them preserve wealth from one generation to the next. She is passionate about empowering and educating women to be involved in the planning of their own financial future. She’s on a mission to break the standard of male-dominated partners and advisors within the financial planning industry. 

Vanessa has had a lively and exciting journey before joining The Lerner Group at HighTower Advisors in 2014. Before joining, Vanessa spent seven years in Guatemala, her mother’s birth town, earning her BBA degree. While working towards her degree, Vanessa worked as an International Sales Manager for a lumber company in which she represented the company throughout Canada, Europe, and Central America. Upon returning to Chicago, Vanessa completed her MBA and found her passion for helping clients navigate the financial landscape while completing her tenure at JP Morgan as a Brand Manager. 

Vanessa started as a Client Service Manager at Hightower Advisors before becoming the COO and then the Manager Director and Partner. She has been recognized as Forbes Best In State Wealth Advisor for 2021 and Barron’s 2020 Top 100 Women Financial Advisors.

During her work experience, Vanessa observed that women usually took the back seat when it came to financing. She witnesses widowed clients who weren’t prepared to take over their late husband’s finances because they were not part of the estate of the financial planning process. Her goal is to help change that.

In this episode, Vanessa advises on how women can advocate for themselves, especially for financial decisions. She explains that there are many resources available that women can navigate to maximize their understanding to better manage their wealth, either with their partners or on their own. She also busts the myth that financial planning is only for the rich. It is for everyone. 

Vanessa’s enthusiasm for family values extends to her leadership in a community where she oversees the annual planning for the Hispanic congregation of the Northwest Church of Christ. She is also an active member of a non-profit organization called ‘Step up,’ which helps young girls reach their fullest potential in education.

To extend support and her knowledge, Vanessa has co-written a book called “Family Value at Risk” in which she details the importance of intentional communication between families when it comes to financial planning, particularly between the matriarch and patriarch. Her strategy is not only holistic, but it’s also inclusive. The book has been successful that it’s currently in the process of being converted into a podcast. The book will also be available in Spanish!  

Throughout the episode, Vanessa shares valuable information about women’s empowerment in the finance field. She also talks about her journey to Hightower, explains the concept of multi-generational planning, the difference between wealth and value, speaks to both children and parents about finances, developing strong financial habits, and why we need more women in the financial industry. 

Vanessa encourages everyone to do at least one act of kindness a day which will slowly but surely leave an indelible legacy of kindness in the world. 

Listen to Vanessa’s episode and utilize these three strategic concepts to help you excel and find the next step in your life. 

  1. Have Intentional Conversations: A generation-to-generation conversation about financial planning can be challenging, but beneficial. Vanessa suggests that the best way to bridge the dialogue is by having intentional conversations. We must not treat these conversations with negative connotations, and we should be embracing them instead. It’s best to make financial decisions while you’re at your sharpest.

  1. Walk the Walk: There are a lot of individuals out there that often have a hard time finding the company to be a part of. Vanessa recommends conducting company research through social media channels and the internet to see if the company is walking to walk. If you don’t see a connection between their words and actions, it’s time to move on. 

  1. Don’t Stop Learning: Vanessa recommends that growth comes from continuous learning. You never know where the next opportunity comes from, and encourages everyone to take chances and make decisions. Do not fall into the ‘same old’ trap.   

 

Show Notes

Today, we welcome Vanessa Martinez In The Suite. Vanessa is on a mission to break the standard of male-dominated partners and advisors within the financial planning industry. 

 

Vanessa is the Managing Director and Partner for The Lerner Group at Hightower Advisors, co-author of the book ‘Family Value at Risk,‘ financial planner at the Northwest Church of Christ, and an active member of a non-profit organization called Step Up. All of this while being a committed wife and a mother of two young children!

In today’s podcast, Vanessa explains that wealth is much more than money. It can be your friends, family, and/or values. It’s your legacy! Vanessa is passionate about guiding families through all aspects of their wealth, including estate coordination, asset management, and legacy planning. She partners and builds meaningful relationships with family to help them preserve wealth from one generation to the next.  

She knows that the financial culture is male-dominated. However, society has shifted, and she is empowering women to take responsibility for their overall wealth. Vanessa’s unique perspective on wealth management and the role that women should play is eye-opening.

To spread the message of intentional communication between families regarding financial planning, Vanessa co-wrote ‘Family Value at Risk.’ In this episode, she announces how it will soon be turned into a podcast and translated into Spanish!

Throughout this episode, Vanessa shares valuable information about women’s empowerment in the finance field. She also talks about her journey to Hightower Advisors, explains the concept of multi-generational planning, how to speak to both children and parents about finances, and why we need more women in the finance industry. 

It’s to no surprise that her contribution has led her to be recognized as Forbes Best In State Wealth Advisor for 2021 and Barron’s 2020 Top 100 Women Financial Advisors.

Listen to Vanessa’s episode to learn about beneficial financial habits, her experience in Guatemala, intentional conversation, and much more.

Join the conversation to hear about:

  1. Her journey to Hightower (06:05)
  2. About her book: “Family Value at Risk” (09:55)
  3. The concept of multi-generational planning (12:35)
  4. How can you talk to your parents about wealth management? (14:00)
  5. Intentional conversation is key! (18:45)
  6. Money vs. value discussion (21:10)
  7. Tips on finding the right work culture (23:40)
  8. Vanessa’s experience in Guatemala (29:10)
  9. Her volunteerism (33:25)
  10. How parents should raise daughters with strong financial habits (37:30)
  11. How to get more women to join the financial industry (39:40)
  12. Best way to contact Vanessa (45:00)
  13. Tip of the day! (46:50)
  14.  

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