Episode 109: This week, Kyle Van Pelt talks with Tiffany Irving, Senior Vice President and Wealth Advisor at Mesirow Wealth Management. Tiffany specializes in working with high-net-worth individuals, families, and non-profit organizations by providing comprehensive wealth management advice and customized asset allocation strategies to help them accumulate, grow, protect, and distribute their wealth. 

Tiffany shares her work with business owners and her passion for empowering women in finance. From the challenges of working with busy entrepreneurs to navigating wealth transfer and the evolving role of women in financial planning, Tiffany offers valuable insights on preparing, planning, and protecting both personal and business wealth. She also shares her perspective on technology, growth strategies, and the future of consolidation in the RIA space.

In this episode:

(00:00) - Intro

(01:28) - Tiffany's money moment

(03:49) - How Tifanny succeeds in communicating with business owners

(05:24) - How Mesirow helps business owners

(06:54) - Helping business owners prepare, protect, and plan their wealth

(09:21) - What it takes to attract the next generation of investors

(11:55) - Tiffany's thoughts on the great wealth transfer and women in finance

(16:44) - Leveraging technology to serve clients better

(18:01) - Mesirow's growth strategies and marketing approaches

(19:56) - Tiffany's outlook on the future of the industry

(23:38) - Tiffany's thoughts on the consolidation happening in the industry

(26:41) - Mesirow's core values

(27:56) - Tiffany's Milemarker Minute

Key Takeaways

Treat your personal wealth like your business, with a strategy to prepare, plan, and protect.

Create your board of directors. As a business owner, you shouldn't be the middleman between all of your advisors. Surround yourself with a trusted team of professionals, including attorneys and tax experts, and let them collaborate on your behalf.

Educate the next generation. The great wealth transfer is happening now. Get the next generation involved in conversations about the family's financial history, values, and goals.

Women are not a niche market. With women living longer and the rise of female breadwinners and business owners, the financial industry is overdue in adapting to serve women. Financial planning is about empathy and understanding the unique goals and concerns of every client, regardless of gender.

Quotes

"There are a lot of tools in our tool belt as advisors. We just have to remember to educate our clients and let them know what's available." ~ Tiffany Irving

"Women are not a niche market. We're over 50% of the population. So, we're trying to make sure that both partners or spouses are engaged and involved in all of our financial discussions." ~ Tiffany Irving

"Client demographics are evolving. The next generation is here, and we have to meet them where they are." ~ Tiffany Irving 

Links 

Tiffany Irving on LinkedIn

Mesirow

Salesforce

eMoney Advisor

Holistiplan

Charles Schwab

Fidelity Investments

The God of the Woods

Lula Dean's Little Library of Banned Books

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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