Natasha Hendricks
We sat down with Women to Women Network member Natasha Hendricks of Morgan Stanley, and here's what she had to say…
Who are your clients/customers?
The majority of my clients are female independent business owners. I have been an independent business owner for more than fifteen years, so I understand the pains women go through with their businesses and what needs to be addressed.
My other passion is helping families with children who have special needs. Again, I have a strong personal connection with this area because my child has special needs. She has a speech disorder called apraxia of speech, which manifests itself in many ways. In a nutshell, we don't know how she will develop and whether we will be supporting her for 12 years or her entire life. It was terrifying when I realized that she would have difficulties with her development and movement. I remember sitting down and thinking, "Oh, my gosh, now what?"
I have to plan not only for my retirement but my child's whole life. I have learned that preserving access to benefits is very important for children who will become disabled adults. Gratefully the government can support parents in many ways when the child qualifies. I help parents with this process. Of course, I help people from all walks of life, but these are the two primary groups that I am drawn to.
How do you help your clients/customers?
One of my favorite sayings is by Wallace D. Wattles in his book The Science of Getting Rich. "By thought, the thing you want is brought to you; by action you receive it." It was written in 1910, but it's still true today. My clients come to me after they have taken the first step: thought. When I step in, it's time to take action.
We develop a set of concrete steps. In the case of my business owners, they've typically invested 70 to 80 percent of their net worth into their business. I help to create a comprehensive retirement plan that keeps in mind that most of their wealth is in their business. We break it down into manageable 90-day tasks and work out all the details for an investment and life strategy.
I am also a Certified Exit Planning Advisor (CEPA). So I help business owners maximize their business value while building it as well as plan and execute their exit strategy as part of their retirement and personal wealth creation.
What brought you to this line of work?
When I had my metal fabrication business, I got my MBA. I was very young, and the industry was not my passion; it was a tool to get somewhere else. I grew my business from zero revenue. It went from two hundred thousand dollars a year to about 1.5 million in six years. And then, when I was getting ready to get out of it, the Great Depression of 2008 happened.
Unfortunately, my plans were dematerialized, but the dream was still there. I had to take a break with my daughter for a few years, and when I went back to work, I was set on making a meaningful impact. I hoped to help other business owners do what I originally planned to do for myself. Working at Morgan Stanley is an excellent platform for doing this type of work for people.
What brings you joy?
Results. Having good conversations with great people means a lot to me. I love to hear, "I'm so much better off than I was four years ago. It feels good to have my spending under control and a clear plan laid out."
What defines you and your business?
I've experienced starting, running, and losing a business. I know what it feels like to do very well and then invest in the wrong real estate. My experiences define me. Since I have faced adversity as an immigrant, dealing with multiple cultures and adjustments education-wise, I am well-rounded.
When I talk to an individual or a couple about their situation, I can identify with them. I am more than just the person who manages your money, I am an advisor and a friend.
What's the most important thing you want people to know about you and your business?
I will go above and beyond. It's important to me to build trust, so I give all of myself to my clients.
Morgan Stanley