We recently connected with Donna Cates and have shared our conversation below.

Donna, appreciate you joining us today. Let’s start with the story of your mission. What should we know?

I embarked on a second career as a financial advisor after a successful stint as an analyst in the US Army and the creation of a thriving direct marketing business. In an industry predominantly dominated by men, I recognized a glaring oversight in catering to women as clients and professionals. Driven by a resolute determination, I set out to rectify this disparity, spurred by the shared struggles of countless women facing a world of potential but grappling with financial disempowerment. The statistics laid bare a harsh reality: gender pay gaps, a dearth of financial literacy, and an alarming lack of readiness for unforeseen economic challenges.

Fueled by an unquenchable passion, I envisaged something grander: a sanctuary where women could reclaim authority over their financial futures. And so, my company came to life—a manifestation of my commitment to transform the narrative that had bound women for far too long.

My venture transcends mere financial guidance; it stands as a haven for growth, solidarity, and empowerment. Here, women converge for workshops, knowledge-sharing, and individualized consultations. The credo “A man is not a financial plan” reverberates like a mantra, emboldening women to shatter the chains of financial dependence.

The story of Sara serves as a testament to the profound impact of my mission. Trapped in a toxic marriage, she found the fortitude through my counsel to break free. Post-divorce, bolstered by newfound confidence, she earned a master’s degree, launched her enterprise, and now pays her empowerment forward by mentoring and counseling others.

Amidst the backdrop of the Covid pandemic and the virtual transformation of the world, my business flourished via online platforms and partnerships, its message resonating across the United States. Tales continue to pour in from women who stepped into the role of family CFOs, navigated investments, laid down solid financial foundations, and pursued entrepreneurship with unwavering courage.

Yet, my journey persists. The call for financial empowerment reverberates loudly, prompting me to host monthly workshops for women contemplating or navigating divorce, enabling them to make informed financial choices during this transitional phase. Additional workshops and training programs cater to women aspiring for financial self-sufficiency.

It would bring me immense gratification to have my company synonymous with empowerment—a movement that transcends generations. My ambition is for the phrase “A man is not a financial plan” to resound within the hearts of women universally, a constant reminder that we shape our destinies, transcending societal constraints.

Thus, my narrative endures—an ongoing chronicle of empowerment. In a world where women dare to dream, challenge conventions, and uplift each other, I’ve gleaned that no obstacle is insurmountable, no ambition unattainable. My legacy stands as a testament that united, empowered women can redefine the trajectory of their lives, crafting stories infused with resilience, fortitude, and unassailable independence.

Donna, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

It’s interesting how I stumbled into the role of a financial advisor. Instead of actively seeking it out, an opportunity came knocking. A person who had seen me speak at various events approached me, commending my strong presentation skills and knack for connecting with audiences. This individual introduced me to the head of a financial advisory firm, who was quite insistent that I should be working in the financial advisory field. The timing felt right, so I undertook the required exams and aced them, leading to an immediate job offer. And just like that, I launched into a new career in the financial sector.

During my initial years in this role, I realized that “cold calling” wasn’t the most effective method for attracting clients. This term might require a Google search for some readers, as it’s a technique where you contact potential clients without prior contact. What worked better for me was organizing educational programs tailored to people in my target demographic. By offering valuable insights during these programs, I not only built my credibility but also left a positive impact on attendees. This approach naturally drew those who were interested in financial advice to reach out to me.

As a young advisor, I received advice to specialize in a specific market and refine my skills to serve that niche. Given the number of referrals I received from divorce attorneys to assist their female clients post-divorce, I recognized a substantial need to educate women about money and investments, as they were often making poor financial decisions during divorce proceedings. This realization led me to pursue the Certified Divorce Financial Analyst (CDFA) designation, which I acquired. From then on, my niche focused on affluent women experiencing significant life transitions, particularly divorce.

Today, my primary focus involves offering comprehensive financial planning and specialized guidance for clients seeking to align their financial path with their life aspirations. After taking clients through the financial planning process, which includes setting priorities and streamlining investments where possible, we systematically address each of these priorities. This approach ensures that all necessary elements are in place to secure their financial future and achieve their objectives. My relationship with clients is ongoing, as I provide guidance on investment decisions and help them stay on track to meet their goals.

Operating as a Registered Investment Advisory (RIA) Firm grants me the flexibility to offer a range of investment strategies and diverse products that best suit each client’s needs. This encompasses actively managed portfolios, mutual funds, bonds, exchange-traded funds, annuities, life insurance, long-term care insurance, disability insurance, and money market funds. In addition, my firm now offers a cost-effective estate planning process to ensure everyone has the appropriate estate documents.

Furthermore, I act as a concierge for my clients, connecting them with other professionals whose expertise they might require, such as mortgage brokers, realtors, health insurance brokers, divorce attorneys, counselors, divorce coaches, life coaches, and more.

What I take the most pride in is serving my clients with the utmost integrity, as they entrust me with their financial well-being. I stand by them through life’s ups and downs, and one of the most frequent compliments I receive is that I’m known for my straightforwardness, providing everyone with a clear understanding of their financial health.

However, I do emphasize to my clients that the advice and guidance I offer holds immense value, but that value is realized only when they act on my recommendations. While my fees might not be the lowest, I assure you that this is an area where seeking out the cheapest option isn’t advisable. Your financial future is a big deal after all.

What’s been the best source of new clients for you?

Because I focus on working with affluent women in transition, I’ve found the best source for new client introductions to be other professionals who also work with this market. I receive many referrals for my divorce work from counselors as they are often the first to learn about someone’s pending divorce. I have established quality relationships with several divorce attorneys who prefer to have me do the financial analysis and number crunching for their divorcing clients so that makes a great partnership. My biggest advocates are my clients who appreciate the work that I do for them. It’s not often that people opening discuss their financial situation with friends and family; however, I’ve found that when someone my clients’ cares about is in need, they happy introduce me as they know that I will take good care of them.

Can you tell us about a time you’ve had to pivot?

I began working as a financial advisor with a wirehouse/brokerage firm and I received exceptional training through that firm. However, after working in this environment for 22 years, I decided that my clients would be better served if I went out on my own. In 2022, I left the broker dealer world, and I created two new companies. My wealth management and financial planning practice is through Money Matters Wealth Solutions, LLC dba Women’s Wealth Boutique. My second business is Navigating Divorce, LLC where I focus solely on working with couples who want to mediate the financial aspects of their divorce. I’m now in my 23 years as a financial advisor and to break away from the security of corporate America was a bold move for me. I found the courage to make this decision by surrounding myself with like-minded professional women who believed in me when I was afraid to. It definitely takes a village to be successful and I consider myself fortune to have a great circle of friends and supporters.

Contact Info:

• Website: www.moneymatterswealth.com ~ www.navigating-divorce.com
• Instagram: https://www.instagram.com/donnacates/
• Facebook: https://www.linkedin.com/in/donnacates/
• Linkedin: https://www.linkedin.com/in/donnacates/
• Other: 2d Facebook Page: https://www.facebook.com/DivorceDivasAlabama/