Maureen Novak, Portfolio Manager and Financial Advisor, works out of her hometown in Syracuse, New York. Her boundless energy allows her to service both institutional and individual clients, in addition to training for marathons and being a mother of two very young boys. How does she do it all? Setting her eyes on the finish-line and knowing that the long-term pay-off will be amply rewarding.

Why did you decide to pursue a career in finance?
After graduating from Ithaca College with a degree in Accounting, I interviewed with both accounting firms and investment firms in New York City. I realized that a career in finance would marry the solid accounting foundation that I had acquired, with my desire to develop relationships with individuals. That is a great fit for me.

What drew you to Morgan Stanley Smith Barney?
Before my husband and I moved back to Upstate New York, I did an in-depth analysis of all of the major investment firms in the area. I felt that Smith Barney offered the best opportunity overall; a strong company name and an entrepreneurial spirit. Today, Morgan Stanley Smith Barney continues to invest in me as a Financial Advisor, and in return my clients benefit from that.

You have a strong institutional background having worked at First Albany Corporation and Zurich Scudder Investments. How has working at Morgan Stanley Smith Barney been different?
My experience and analytical approach is a natural fit for Institutional clients and high-net-worth individuals, and I continue to work with a number of those clients. The process that I undergo with them, of setting an Investment and Spending Policy, creating a customized investment plan, and establishing the procedures for ongoing evaluation, is the same process that I have applied to the individual investors that I have focused a part of my practice on at Morgan Stanley Smith Barney. It is this process that has given me the ability to positively impact people’s financial lives.

It sounds like working with institutional clients and individuals are both rewarding, but in different ways.
My practice certainly allows me to accommodate both types of clientele. It is a natural strength to proficiently present to the Board of Director’s of endowment and not-for-profit clients, but I also enjoy working closely with a couple who is planning their retirement. You really get to know and understand people on a personal level, while educating them about the process and financial plan they are committing to. I come from a long line of teacher’s and education is in my blood. I take each one of my client’s through a long and deep education process before we start investing.

Talk more about why you love the teaching/educational aspect of your job.
Today’s mass media provides an enormous and often contradictory amount of information about investing, and I like to transform that information into knowledge. A client that I’ve spent time building a solid understanding of what they want to accomplish, and the best way to do so, becomes more comfortable in the overall process. That, in turn, improves our communication level and ultimately makes for a better overall relationship. Some people mistakenly think that investments are the primary role of a Financial Advisor and relationships are secondary. I find that the opposite is true. Relationships are where the goal setting lies and where you uncover the true purpose of someone’s money.

Educating clients about retirement sounds like a serious time investment, and a lot of delayed gratification. Why do it?
I’m a long distance runner and I train for marathons. A marathon is 26.2 miles in distance. Being able to complete a marathon requires a tremendous amount of preparation, diligence and time. My clients are in their own proverbial marathon with me.

Each mile that goes by in a marathon, is like a year in a client’s life. Some years are more difficult than others, but before you know it, you are further along than you thought. Gratification doesn’t just come at the end of the race, but rather in our ability to adequately balance what is happening in each individual year. That is true retirement planning. It’s about long-term planning and long-term gratification. It’s also about consistency and keeping our eye on the finish line.

I‘ve been working in the financial industry since 1996 and I plan on helping people for many years to come. Clients can be reassured that for the remainder of their investing marathon that I’ll still be running with them and helping them navigate where they need to go.

How do you help clients navigate through the storm of the current economic climate?
While it is true that there has been a tremendous amount of volatility over the past few years, there has always been volatility in the financial markets, and I imagine it will continue on that way forever. This fluctuation however, is only temporary as is its impact on a client’s long-term investment plan. The key is to have adequately prepared the financial plan for the client, so they can use this volatility to their advantage, and to have appropriately prepared the client by successfully matching their risk profile with their investment profile. If those fundamental steps are taken, in conjunction with adequate and continuous communication, clients become more comfortable in confronting whatever economic climate greets them.

With such a strong emphasis on communication, it sounds like you need to constantly be available to clients. You must take a lot of phone calls!
Quite the contrary, actually. The communication that I have with my clients is consistent and predictable; therefore, clients know when and how they will hear from me. It is all part of my ongoing client commitment. I typically do an annual review, coupled with scheduled investment update phone calls. My partner and I also have a website, we send monthly email updates and financial planning letters, and make available other relevant and timely publications.

The true investment of time comes at the beginning of any client relationship, and is nurtured and energized from there. Again, the financial plan that we decide upon as the best course of action for a client’s particular needs and goals, is established early on. I maintain a strong commitment to outwardly communicating any changes or alterations that may be required going forward. That said, I am always happy to hear from my clients.

Tell us more about working with a partner.
Bringing on a partner was one of the best business decisions I have ever made. With the proliferation of financial information and ever changing tax law, there is a tremendous amount of data to stay current on. With the financial markets continually presenting new areas of opportunity, it’s a great comfort to my clients to know there is another Portfolio Manager and Certified Financial Planner available to them. Together, we bring greater efficiency and accessibility to our clients.

You have a special emphasis on addressing the needs of woman investors. Why is that important to you?
I enjoy working with all different types of clients, and my practice is representative of that. However, there are so many levels that I can relate to women on, I feel that brings an added level of substance and comfort to my female clients. Being a professional woman, a wife and mother, I understand the complexities and challenges that lie in those roles, and by marrying that experience with a professional approach to investing, I feel a certain synergy is available to those female investors.

Is there a particular group of women investors that you tend to gravitate to?
There are actually two groups of women investors that I predominately work with.

As a professional woman, my practice tends to attract a number of professional women in various careers. The drive and influence that we administer in our respective fields often magnetizes us to one another.

I also focus a large part of my energy and practice to the needs of women entangled in the divorce process. While divorce in and of itself is a legal matter, I also believe it encompasses some of the biggest financial decisions a woman may ever have to make. I’ve made it my personal mission to assist them in whatever way possible, by providing financial information and investment direction where I can.

What’s special about being a Certified Financial Planner (CFP) and a Chartered Financial Analyst (CFA)?
The CFP designation is awarded by the Certified Financial Planner Board of Standards to planners who are committed to competent and ethical behavior when providing financial planning. CFP’s submit to the four standards of education, examination, experience and ethical requirements. This broad-based approach demonstrates my commitment to following a comprehensive financial planning process.

The CFA designation is given to investment professionals who have successfully completed the requirements set by the globally recognized CFA Institute {formerly AIMR}. It is regarded by most to be a key certification for investment professionals, especially in the areas of research, investment selection and portfolio management.

The combination of these two professional designations makes me uniquely qualified as a Financial Advisor to not only create the financial plan that clients will follow, but also to execute on the investment management component of the plan.

What are some of your best practices for attracting new clients?
I learned long ago that if I pursued my passions then success would follow. I love what I do and am eager to help people become financially secure to pursue their own aspirations. By aligning myself with their best interest, I work hard every day to make sure clients are getting my best. Not every day is easy, but they are all rewarding.

This focus and solidarity allows me to do exceptional work, and maintain a high level of professionalism and investment focus. These same qualities that my clients look to for their financial well-being are the attributes that bring new clients to me.

You have two boys, a two-year old and an infant. How do you manage a successful business and a successful household?
Passion. I have a tremendous amount of passion for life, and I’ve focused that energy on my family and career. I am also a very organized and detail-oriented person, so it is not uncommon for me to prepare a schedule in advance that breaks down what I need to accomplish for a particular week and breakdown the steps I will follow to get there. This applies to both home and work.

You’re also involved with the YMCA as a health and wellness instructor and volunteer. How do you make time to do that?
There is always time for the things that are important to me and volunteering and giving back to my community qualifies as such. I live in a close knit community that has a tremendous amount of attributes that my family and I take advantage of. Volunteering at the YMCA and teaching a course there allows me to give back to the community and I love that aspect of my life.

I take a holistic approach to my health, and exercise is one important element. Exercise keeps me sharp and pliable physically and with all other aspects of my life. It’s about balance. Balance between career, health and family. They’re very intertwined.

You’re life is so full! How do you make time for yourself?
Regardless how full my life is, I always find some time for myself. Very often my days start well before sunrise so I can go running and return home before my family wakes to start their day. Or I may take a lunchtime yoga class or a quick workout before I get home in the evening.

I make time for myself when and where I can. It’s this time away that recharges me and refreshes my perspective. It makes me a better Financial Advisor, a better mom and a better person all around.

How do you train for your marathons, mentally and physically?
Depending on my schedule, I try to run at least 3-5 times a week.

When I began running in 2002, I could barely run a single mile without stopping to rest and catch my breath. In 2006, I ran my first marathon, despite a number of setbacks along the way. It is an indescribable feeling to cross the finish line of your very first race, knowing how much time and energy had been expended for that single moment. Since then, I have run two more marathons and many other shorter distance races. While the race and distance may change from time to time, the strategy I’ve learned to employ is the same; train diligently, focus, take a break when I need one, and above all, enjoy myself along the way.

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