We recently connected with Lisa Brumm and have shared our conversation below.
Lisa, thanks for joining us, excited to have you contributing your stories and insights. What do you think Corporate America gets wrong in your industry?
America ranks 14th in Financial Literacy in the world!
I think that is disturbing.
Why, you ask?
The US has the world’s largest economy by GDP and Net Wealth!
What’s with the disparity?
Typical Financial Advisors & Investment Companies would not be as profitable if you had money know-how!
I am committed to be the disruptor in the industry I’ve worked in over 30 years.
I’m a 27 yr. Financial Advisor & Consultant to champion for Women/BIPOC Clients, Advisors & Entrepreneurs!
I started My Financial Girlfriend firm 7 years ago after bruising my forehead by banging it on the conference room table & sick of being told to push product in the 8am Sales meetings!! Frankly, I was tired of my peers prejudging and thinking that women were a waste of an Advisor’s time unless they can invest $250k or more.
Something had to change! So, instead of just complaining on deaf ears, I decided to take matters into my own hands and become part of a new paradigm…to be part of the solution!
The loud ringing in my ears prompted me to start my own Financial Firm. My overall philosophy is that there is good business in working with the emotional intelligence with smart & capable women. So, how do I make this happen? How do I cater my financial expertise towards women? I knew I was uniquely qualified!
This became my purpose and my life’s PASSION!
When I created my company, My Financial Girlfriend Firm, it’s primary mission is to educate in a safe, non-judgmental space…a “shame-free” zone for Women/BIPOC to learn & expand their knowledge in all things money on their terms; thru encouragement & empowerment in making “no regret” decisions towards thriving… with sass!!
I am on a relentless mission from 2017 to present! others may call it passion! To break barriers for Women & BIPOC who are dismissed as consumers in the Financial Industry. When in fact, we have the largest purchasing power in the world & represent the largest groups in the workforce! Ignoring these demographics is a huge mistake!
82% of Financial Advisors are men & they are taught to ignore Women or BIPOC because inherently, we make less money, leave work to care for children or aging parents, … a waste of time. Since women & BIPOC tend to live longer than their male counterparts, over the next 20 years, the potential for trillions of assets being left on the table is very likely if these people are not attended to. Failure on Male Advisors to pay more attention to their commission checks than this specific demographic is where Women Advisors will take the lead…be their Financial Girlfriends.
In addition, the industry’s marketing and sales methods being taught in the financial services and insurance industry are archaic and are not designed for women in mind. I would know. Women feel left out of the conversations and untrusting of Men Advisors, and women do not have to be dismissed more than once when the magnetic alternative is My Financial Girlfriend firms across the US. Where a “Movie & Mani’ night is coordinated as a book club, or “Girlfriend Talks Learning Labs” provide money knowledge chat rooms and workshops.
I became a financial advisor over 25 years ago and the golf courses are not the only places where money, traveling, investments & retiring are the topics of great conversation.
Studies have shown that adding more female Financial Advisors who can innately foster emotional intelligence when speaking with women clients about their money goals, the following benefits within firms are increased:
~ Creativity
~ Workplace satisfaction
~ Increased Profitability for Women Advisors and Women Consumers/Entrepreneurs
~ Long Term Loyalty, binding relationships between Clients and Advisors, i.e., “Girl friendships”
~ Additional products & services are utilized because their needs are heard, and the demand is supplied per Client/Household on their timelines and pace
The time for the “NO SHAME, NO GAME, NO GAIN” culture to end is NOW!
Think about it! The Financial Industry’s overriding product, besides money, is shame. They advertise in ways to make Americans feel embarrassed that they don’t have enough. The institutions wag their fingers in admonishment if they aren’t smart enough to invest. Yet, when women do seek advice, they are embarrassed if they don’t have the language to come across as intelligent.
In my company, without that shame that male advisors project out, then My Financial Girlfriend’s message is pure melody to Women/BIPOC prospects. When a new client meets a My Financial Girlfriend Advisor, there is ease, fun and sass to the meeting. They instinctively know there is a huge difference. They feel heard, seen and respected for their critical-thinking skills, even if money is not their forte and better yet, regardless of the size of their investment. There is no shame in not knowing about money! They feel they do not have to do money alone anymore. With a Financial Girlfriend, they get the best in money know-how and the straight scoop just as a girlfriend tells it about their money while speaking their level of understanding, on their terms, and their timelines!
As the o.g. Financial Girlfriend, I believe in hope & endless possibilities than most can ever imagine in their finances. I believe in our abilities to see a new way to bring financial services to consumers. New money mind shifts occur organically, so helping them make way for a better living financial plan… with a Financial Girlfriend who’s got their back! My Financial Girlfriend will generate a much-needed paradigm makeover within this industry!
I believe in their hope and all their possibilities, even if they don’t yet. My vision is more women/BIPOC achieving a better financial future for themselves, their families, their future and therefore the world—this is what My Financial Girlfriends do. We are the girlfriends your guys talk about. We are the catalyst for change in financial confidence.
Why are you doing money alone? Let’s money like you mean it today! Call on your girlfriend. Call on My Financial Girlfriend.
With gratitude and sincere appreciation for this opportunity to tell my business story.
Irreverently submitted by an Industry Professional,
Lisa Brumm
CEO of My Financial Girlfriend, LLC
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
Lisa’s journey began in banking before transitioning into financial planning fueled by her passion for education and empowerment, particularly for women. In a society where money conversations often evoke discomfort and shame, Lisa took a deliberate stance to create a judgment-free zone within her company. She’s on a mission to ignite financial curiosity and alleviate the stress that might be keeping you up at night.
January 5, 2015 Lisa Brumm attended a networking event called “Women with Moxie.” Raffle tickets were offered to win a minute at the mic to introduce your work to the 200+ audience that night. For those of you who have yet to meet her, Lisa is one lucky lady and often the winner of raffles. She purchased # tickets and soon enough found herself on stage. That night something magical happened as she explained her work to the audience…
“Good Evening Ladies!
My name is Lisa Brumm.
As women we do everything together. We talk about our relationships together, we go shopping together, hell, we even go to the bathroom together… but the one thing we don’t do together is talk about our money! Allow me to be your financial girlfriend, the one you come to and discuss your money issues with!”
Unlike other financial professionals in the industry, Lisa believes in welcoming you with a hug, fostering a shame-free, safe-zone for us to discuss the various elements of your financials and always have you leaving with a sense of hope and relief. As a transparent fee-based planner, her passion is not product-pushing, but rather sparking a sense of financial curiosity in her clients.”
And thus the term “financial girlfriend” was born. The rest is a collage of client experiences, late night brainstorming and daydreaming of transforming the financial industry into a place of relationships, education and more Women in the Financial Industry… Female is the Future.
The MFG Philosophy:
All people, especially Women deserve, no, actually have the right to collaboratively work with Financial Professionals that educate with sharing all the resources of the Financial Industry and Care of a Girlfriend!
Lisa is helping make the world a better place for women by empowering them financially. Without financial wellness it’s almost impossible for women to live their life to the fullest potential.
If you have multiple revenue streams in your business, would you mind opening up about what those streams are and how they fit together?
In 2020, with everyone having to move to home to do their work, I realized that I needed to think of other sustainable income streams to keep My Financial Girlfriend open and growing. Also knowing that financial literacy has been my main marketing thrust for Women,
You know how we all kinda feel like we never received relevant education around money?…not from schools?…not from our parents? We are left to our own behaviors and never learn real-life money tactics.
Well to be frank, America actually ranks 14th out of all the countries in the world in Financial Literacy, even though we are the largest sized economy!! Appalling, really!!
Here is My Financial Girlfriend’s Big Vision – Women learning effortlessly together online Zoom Money Workshops, where we share, learn relevant information, and help each other gain knowledge, and empowerment over our own money. In turn, we then share that knowledge or bring our girlfriends, family, colleagues into the same No-Shame space to learn and grow together!!
Seems like a no-brainer, right!?!??
Well, I created the “Money Learning Lab”. This is a weekly Zoom live 60 min workshops program and it is becoming wildly popular! With an affordable investment of only $11 per month & a one-time sign-up fee. Ridiculously easy and low barriers to real life money education on a weekly basis!! Even if the time or date conflicts, all the members get all the replay recordings, materials, and links from each workshop as if you were there!!
I truly believe that have every person has the right to be proud of yourself for investing in your own money knowledge and taking the first step in joining our Money Learning Lab Community!! Where we can be a part of the Financial Literacy Movement for Women and the freedom to invite others, friends or colleagues to join this amazing community of shared knowledge and uplifting money know-how!!
With the goal to bringing Women and marginalized communities into a collaborative learning lab online space (for now),
We have over subscribing members joining in monthly and offering new money topics all of the time.
Any thoughts, advice, or strategies you can share for fostering brand loyalty?
Keeping in touch in a digital world is not that hard when you can find experts to help you set up automation and regular reasons to be relevant in the financial economy. My Financial Girlfriend’s Mission statement tells it all.
My Financial Girlfriend’s primary mission is to educate in a safe, non-judgemental space…a “shame-free” zone for Women and Marginalized Communities to learn & expand their knowledge in all things money on their terms; thru encouragement & empowerment. My Financial Girlfriend promises to excel in all client interactions and helping our clients in making”no regret” decisions & steering them to a thriving life… with sass!!
We recognize timeliness in replying to client inquiries, and keep our website fresh. We send out frequent Newsletters and updates to Tax or Financial rules. All client have the ability to set up appointments or have a standing quarterly appointment with a qualified Financial Girlfriend at anytime. Clients love the interaction because it isn’t stuffy and chart driven. It is with compassion, enthusiasm, and creating curiosity for our clients to get real answers about their resources.
Contact Info:
- Website: https://myfinancialgirlfriend.com/
- Instagram: https://www.instagram.com/lisamoonbrumm/
- Facebook: https://www.facebook.com/myfinancialgf/
- Linkedin: https://www.linkedin.com/in/lisabrumm/
Image Credits
Headshot – Sarah Waters Photography, Portland, OR Burgundy Dress Standing – Barbara McIntyre, Portland, OR Office Background – Diana Atkinson, Clackamas, OR Car and Sunshine – Selfie