“You have to be flexible in whatever role you’re in,” advises Debra, who feels passionate about traveling and taking life as it comes.
Debra also has a strong desire to promote diversity in the workplace. In this interview with us, she discusses the ways in which she mentors minorities as a diversity champion at the Firm, specifically noting the importance of giving back to help make sure diverse populations succeed.
How did you go from teaching middle school to the financial industry?
At the time, I had moved to Florida from Los Angeles, and I saw an ad in the newspaper for a stockbroker with a penny stock firm. I always had an interest in finance, but I didn’t even know the difference between a “bid” and an “ask.” I still went for the interview, got the job and then earned my Series 7 registration.
What happened after that?
Well, I wasn’t entirely happy at the penny stock firm, but right next door to the company was a Dean Witter office. One day, I walked in the Dean Witter office and asked if I could speak to a manager about job opportunities, and the conversation was worthwhile. I received training, and then moved to Tampa, Fla., with my children. I did that job for a little over a year, but since I was divorced, I couldn’t work late nights because I didn’t want to leave my children, so I went back to Los Angeles where I had a support system.
What did you do in Los Angeles?
I worked in the discount brokerage industry for around 12 years, which worked well for me because I could go to work, and then come home to my children in the evening. In 2000, I came to Smith Barney as an Operations Officer. I was later promoted to Senior Vice President, Regional Administrative Officer of the Chesapeake Bay Region, based in Baltimore. Then last year, I was on vacation with a friend of mine, and my assistant called and said that the divisional director wanted to speak to me because the former Chief Operating Office had stepped down, and he asked me to consider the job.
What an honor.
Well, I was a little nervous to interview because I already loved the job I had. I’m more of a people person than a finance guru, but I ended up taking the job. It’s been a year now, and I’m starting to settle in, and I’m really liking it.
Why is that?
Well, I never know what’s going to hit my table every day. I like that there are things that come out of nowhere. I might get an email from a Financial Advisor who says he’s having a problem, and I have to go out and find a solution. I also like the contact with senior management. I sit through Operating Committee meetings, so we get to know what’s going on at the firm on a high level; they value our opinion, and they want to hear it.
Sounds like you’ve been able to roll with the punches.
The key to advancing in this business is to be flexible. The industry is always evolving and changing, and if you are static, there’s no way you’ll make it. Just when you think you’ve got it all figured out, you get a curveball.
Can you talk to us about your passion for diversity?
I think the thing that strikes me in this industry is that wherever I go, I see very few people of color, and I see even fewer women. I have a passion to bring the industry to these populations. I’m a diversity champion for the Firm’s Western Division, and I have talked to and mentored a lot of people.
Even your godson!
Yes, my godson came in as a Financial Advisor a year and a half ago, and even though he was a smart kid who was at the top of his MBA class, the training program was not the right fit for him - as a newly minted college graduate. But now he’s a shining star, working as a Registered Client Service Associate and he is training to be an analyst. I think he’ll end up on the advisor side at some point.
What did he struggle with?
Well, it’s difficult to be a Financial Advisor unless you have some kind of connection to the affluent community, and I think it’s even more difficult for diverse populations because sometimes we don’t have those connections. I think Morgan Stanley Smith Barney does a lot to make a difference, because there needs to be more hand-holding and time invested to help diverse populations.
What advice did you give him?
When things weren’t going well for him in the program, my advice to him was: be there every day, be in the office, be visible and make relationships – not only with other Financial Advisors but with others in management. You have to put the time in on the front-end to get the results on the back-end. I think our new, young hires should join a team or start as a CSA (Client Service Associate) and work their way into the Financial Advisor role.
Why do you think it’s important to bring diversity to the Firm?
We live in a diverse world. Look at the president of the United States. People tend to gravitate to people who look like them, and I think there’s a lot of wealth in diverse communities, so let’s give them someone they can relate to. I think clients want someone who understands their plight – whether good or bad. It gives you a feeling of comfort to know there are people out there who look like you.
Do you have any hobbies?
I’m an avid reader. I sit on the board of Morgan State University, a historically black college in Baltimore. I’m also trying to learn how to play golf. Los Angeles is the perfect climate for it. I also love traveling; I feel like I am an explorer and that I could live anywhere.
© 2012 Morgan Stanley Smith Barney LLC. Member SIPC.