Lisa Brumm
We sat down with Women to Women Network member Lisa Brumm of My Financial Girlfriend, and here's what she had to say…
Who are your clients/customers?
Women, people of color, and anyone who would consider themselves money curious. When you're in a curious state, your mind is open. If you want to live on the grid, you must play the game. With money, the game is "what comes in, what goes out, and what sticks around." We work to leverage all of that.
What brought you to this line of work?
I was always the kid with the lemonade stand who made my brother get more ice, but my story really starts at Portland State. College was great because it fed both sides of my brain and helped me realize that entrepreneurial spirit.
As a freshman at PSU, I was excited that I tested into the third-year French class. My language courses used the right side of my brain - creativity, social interactions, and being culturally aware. I'm thankful that I ended up taking an accounting class too. I'm pretty sure it was just the first thing on the electives list, but I soon realized that it was a great use of the analytical left side of my brain. Math is one of my strong suits. I've always liked numbers, math, and money.
I ended up working for an accounting firm with the intention of becoming a CPA. They had me run bank deposits to the lobby bank in downtown Portland. I'm an extrovert, so I got to talking to all the bank tellers and the assistant manager. As I got closer to graduation and my experience at the accounting firm wasn't all I hoped it would be, I decided to bring a resume to the bank's assistant manager. I got the job and ended up in a state bank.
Accounting and banking are opposites because the bank counts the debits as credits and credits as debits. It felt like I was in a rabbit hole when I made the switch. It was a unique perspective to come from one to the other. I like the banking side because it is much more service-oriented. It used the right side of my brain that I was missing a bit at the accounting firm. I'll never forget little grandmas in the neighborhood who would bring baked cookies and fresh flowers when they came to cash their Social Security check. People-interactions fill my cup up.
When Wells Fargo took over in the 90s, it set off the next evolution of work for me. I left my job at the bank and eventually answered an ad in The Oregonian to be a financial advisor with Waddell & Reed. I was in the Lloyd Center, so I just walked up to the shop owners and said, "Hey, let's save you some money." That's how it all started, and the rest is history.
How do you help your clients/customers?
I think we're poorly educated about finances as Americans, and while most advisors are taught to find clients with huge bank accounts, I take a different approach. I enjoy counseling my clients, and I take a legacy approach. I take pride in teaching my clients how to create a hundred-year plan with their financials. I want to help them check items off of their bucket lists.
What brings you joy?
I like blowing people's minds. I love the idea that I can show them a straightforward trick that saves them money, but it almost feels like magic! I always say, "you have to tell your money where to go." When my clients start to heed that advice, they see significant changes.
What defines you and your business?
I enjoy having fun and using a sense of humor. I want to break down barriers and mindsets around what money is and to de-emotionalize. Money is a tool. The more objective you can be, the more curious you can be.
What's the most important thing you want people to know?
I think that women don't give themselves enough credit—not just about money, but in general. I like to start my talks with the quote, "when you teach a man, you've taught an individual. When you teach a woman, you've taught a village." The more education we get, the more powerful we can be. I find that women tend to take care of the money, and when they discover that they are secure in their own home, they seek out other places where their dollars can do good for the community. We need to have more economic kindness.
Something new I am implementing is a membership program on my website where people can pay a small monthly fee to access a money resource library, including all access free attendance to any of the online workshops or eventually in-person events. Also, it will have calculators, worksheets, videos, and more to help you get on track with your money. This is just one more way I can help my clients manage their money.
My Financial Girlfriend