We recently connected with Millicent Hollingsworth and have shared our conversation below.

Millicent, looking forward to hearing all of your stories today. Looking back at the decisions you made early in your career, particularly whether to join a firm or start your own, do you feel you made the right choice for that stage of your career?

When I first embarked on my journey in the financial industry in 2019, I faced the significant decision of whether to join an established firm or venture out on my own. Looking back, that choice was driven by a combination of circumstances, context, and my own aspirations.

Back in those early days, I had just completed my education and training, armed with a strong desire to make a difference in people’s lives by helping them achieve financial security. Joining an established firm, particularly one as reputable as New York Life, seemed like a logical choice. It offered me the support, resources, and credibility that are often vital when building trust with clients and navigating the complex world of finance.

My decision to join New York Life also aligned with my belief in the power of collaboration and learning from experienced professionals. I wanted to benefit from the mentorship and guidance that a well-established firm could provide. Being part of a larger organization allowed me to tap into a wealth of knowledge and expertise, which was invaluable as I started my career.

The early years were undoubtedly challenging. I had to prove myself in a competitive industry, build a client base from scratch, and earn the trust of those who relied on me for their financial well-being. However, I was fortunate to have a supportive network within New York Life that offered guidance and resources to navigate these hurdles.

As time passed, my practice grew, and I saw the positive impact I was having on individuals and families, helping them secure their financial futures and relieve the stress that often accompanies financial uncertainty. It reaffirmed my belief in the importance of the work I was doing. New York Life absorbed my business and still allowed me the autonomy to operate as an independent agent.

Reflecting on my journey, I can confidently say that joining New York Life was the right choice for me. It provided me with the foundation and resources needed to make a meaningful difference in the lives of my clients. It allowed me to focus on what I’m truly passionate about: empowering individuals and families to achieve financial security and peace of mind.

Today, I continue to wake up each day with the same passion and commitment to helping people get what they need and want out of life. I’ve seen the positive impact of my work, measured not only in financial terms but also in the peace of mind and security my clients now enjoy. I believe that financial well-being is a fundamental right for everyone, and I’m dedicated to being a partner in building a brighter, more secure future for all of my clients and their loved ones.

Millicent, 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?

Certainly, here’s a comprehensive introduction to who I am, my journey into the financial industry, the services I provide, the problems I solve for clients, and what sets me apart:

I’m Dr. Millicent Angela Hollingsworth, a dedicated and passionate financial professional with New York Life. My journey into the world of finance was inspired by a deep-rooted belief that financial security and peace of mind are fundamental rights that everyone should have the opportunity to enjoy.

My Background and Entry into Finance:

My academic background is in economics and finance, where I earned my doctorate degree. I’ve always been intrigued by the power of financial knowledge and wanted to use that knowledge to make a positive impact on people’s lives. With this passion and my educational foundation, I embarked on a career in the financial industry.

My Services and Expertise:

As a financial professional, I specialize in helping individuals and families take control of their financial future. I offer a range of products and services designed to maximize money and protect what matters most. Some of the key offerings I provide include:

Fixed Savings Plans: I offer secure savings plans with a competitive 4.5% deferred interest rate, allowing clients to grow their money with minimal risk.
Employee Whole Life Insurance: I provide comprehensive whole life insurance solutions tailored to the needs of employees, offering financial protection and peace of mind.
Income Disability Coverage: My expertise extends to income disability coverage, helping clients safeguard their income in case of unexpected events or health challenges.
Long-Term Care Options: I assist clients in planning for long-term care needs, ensuring they have financial support and peace of mind for their later years.
Annuities: I offer various annuity options, providing clients with a secure source of income and protection against market volatility.
The Problems I Solve:

My primary focus is on empowering individuals and families to make informed financial decisions. I help clients address common financial challenges, such as:

Financial Uncertainty: Many people face financial stress and uncertainty. I help clients build a roadmap to financial security and stability.
Inadequate Savings: It’s common for individuals to have insufficient savings. I guide clients in making the most of their money, ensuring they have enough for their goals and needs.
Risk Management: I assist clients in protecting their financial well-being against unexpected events, disabilities, and long-term care costs.
Retirement Planning: I specialize in helping clients plan for a secure retirement, offering solutions that ensure a comfortable lifestyle in their golden years.
What Sets Me Apart:

I take pride in my commitment to my clients’ financial well-being. What sets me apart is:

Education and Expertise: My background in economics and finance, coupled with continuous education, ensures that I provide informed and up-to-date guidance.
Holistic Approach: I believe that financial well-being goes beyond numbers; it’s about creating the life you want. I work with clients to build a healthy relationship with money.
Collaborative Partner: I am not just a financial advisor; I’m a partner in your financial journey. I take the time to understand your unique needs and goals.
Reputation: As a professional with New York Life, I am part of a reputable organization known for its commitment to clients and financial strength.
What I’m Most Proud Of:

I take immense pride in the positive impact I’ve had on the lives of my clients. I’ve seen individuals and families transform their financial situations, gain peace of mind, and secure their futures through my guidance. This is what drives my passion for what I do every day.

What You Should Know About Me:

I want potential clients and followers to know that I’m here to empower you. Financial security is within reach, and I’m dedicated to helping you achieve it. My work is guided by a strong belief in the importance of financial education, discipline, and planning. Together, we can maximize your money, protect what matters most, and create a brighter, more secure future.

How do you keep in touch with clients and foster brand loyalty?

Maintaining strong client relationships and fostering brand loyalty are crucial for any business, including a financial practice like yours. Here are some strategies to keep in touch with clients and build lasting brand loyalty:

Regular Check-Ins: Schedule periodic check-in meetings or phone calls with your clients. These can be annual reviews of their financial plans, portfolio performance updates, or simply a chance to catch up and discuss any life changes or goals.

Personalized Communication: Tailor your communication to each client’s preferences. Some may prefer email updates, while others might prefer phone calls or in-person meetings. Respect their choices and adjust your approach accordingly.

Newsletters and Educational Content: Share newsletters, articles, and educational content that are relevant to your clients’ financial goals and interests. Providing valuable insights and information demonstrates your expertise and commitment to their financial well-being.

Special Occasion Recognition: Remember important dates like birthdays, anniversaries, or milestones in your clients’ lives. Sending a thoughtful card or message can go a long way in building a personal connection.

Client Appreciation Events: Host client appreciation events or workshops where clients can network, learn, and engage with you and your team. These events can strengthen relationships and create a sense of community among your clients.
Social Media Engagement: Use social media platforms to share financial tips, industry insights, and updates about your practice. Encourage clients to follow you and engage with your content.

Referral Programs: Encourage clients to refer friends and family to your practice. Reward referrals with incentives like discounts on services or a small token of appreciation.

Prompt Responses: Always respond promptly to client inquiries and concerns. Being accessible and attentive to their needs builds trust and confidence in your services.

Solicit Feedback: Request feedback from clients about their experiences with your practice. Use their input to make improvements and show that you value their opinions.

Surprise and Delight: Occasionally surprise clients with unexpected gestures of appreciation, such as sending a thank-you gift or expressing gratitude for their business in a personal note.

Consistency and Reliability: Consistently deliver high-quality service and advice. Clients should know they can rely on you for their financial needs.

Stay Informed: Keep up with industry trends and changes, and proactively inform clients about how these developments might impact their financial plans.

Adapt to Life Changes: As your clients’ lives change, adapt their financial plans accordingly. Show that you’re committed to helping them navigate life’s financial transitions. I do a yearly follow-up with clients to make sure we are on the correct path for success.

Transparency: Be transparent about fees, investment strategies, and any potential risks associated with financial decisions. Open and honest communication fosters trust.

Remember that building brand loyalty is a long-term effort. It requires consistency, genuine care for your clients’ financial well-being, and a commitment to providing exceptional service. By staying connected, offering value, and being responsive to your clients’ needs, you can create lasting relationships and loyal clients who will not only continue to work with you but also refer others to your practice.

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

Twenty years in the food industry had given me a wealth of experience as an operations manager. It was a world of kitchens, supply chains, and logistics. But as the years passed, I found myself increasingly drawn to a different kind of operation – one centered around financial well-being.

The catalyst for this change came from a personal experience that highlighted the critical importance of understanding insurance and financial planning. I had owned an insurance policy for years, believing I had adequate coverage. However, a moment of truth revealed that I was misinformed about my policy’s details and limitations. I found myself facing a situation where the coverage I thought I had wasn’t there when I needed it the most.

This eye-opening experience ignited a passion within me. I realized that there were countless others who, like me, might be navigating the complex world of finance without a clear understanding of their options or the implications of their choices. It was a pivotal moment in my life.

I decided to pivot my career and start a new journey in the financial services industry. I was determined to become an entrepreneur, not only to secure my own financial future but also to consult and educate people about their finances. I felt a deep sense of responsibility to help individuals and families avoid the pitfalls I had encountered, ensuring that they were adequately protected and financially prepared for whatever life might throw their way.

The transition was not without its challenges. I had to acquire new skills, gain industry knowledge, and build a network of clients and partners from the ground up. It was a journey of continuous learning and adaptation.

But my passion for this mission was unwavering. I immersed myself in financial education, obtained the necessary certifications, and leveraged my experience in operations to provide a meticulous and organized approach to financial consulting. I educated myself about various financial products, including insurance, retirement planning, and investments, so that I could guide my clients effectively.

Over time, I established my practice with New York Life, where I could align my values with a reputable organization committed to financial security and peace of mind. Today, I’m proud to say that my pivot has been a success. I’ve had the privilege of helping countless individuals and families navigate their financial journeys, protect their loved ones, and achieve their financial goals.

My pivot was not just a career change; it was a transformation fueled by a deep sense of purpose. It’s a reminder that sometimes the most significant changes in life are driven by personal experiences and a commitment to making a positive impact. I’m grateful for the opportunity to have pivoted into a career where I can empower others to take control of their financial futures and build a brighter, more secure tomorrow.

Contact Info:

• Instagram: @annuityqueen
• Facebook: www.facebook.com/MillicentHollingsworth
• Twitter: @sigmasoror

Image Credits
Photos taken by me with my iphone of me out in the community serving and educating. Passing out books and speaking to civic leaders such as mayors. Servicing clients and and helping them find their financial number.