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In an era where women are poised to inherit trillions of dollars in wealth over the next few decades, Coral Gables Trust, one of the fastest-growing trust and wealth management firms headquartered in Florida and a leading provider of Wealth Management, Trust and Estate, and Financial Planning services, in collaboration with powerhouse Realtor Judy Zeder of The Jills Zeder Group at Coldwell Banker, presented “Women at the Forefront of the Greatest Transfer of Wealth in History,” a provocative discussion and part of Coral Gables Trust’s popular Women & Wealth Series.
Conducted on Oct. 31 at Biscaye Bay Yacht Club, the panel was moderated by Jane Wooldridge, senior director of Journalism Sustainability and Partnerships at the Miami Herald, and featured a distinguished list of speakers, including Pascale Hainline, CRPC, executive director and wealth advisor at J.P. Morgan Wealth Management in New York; Dr. Andrea J. Heuson, professor of finance at the University of Miami, and Judy Zeder.
Over a sumptuous breakfast, the audience of accomplished women explored the unprecedented wealth transfer impacting women and their financial futures as trillions of dollars begin to change hands.
Donald A. Kress, CEO and president of Coral Gables Trust, opened the event articulating the concept behind the Women & Wealth series, now in its fourth year, designed to be a thought-provoking and engaging succession series of events that empower South Florida women by building financial confidence through sound wealth strategies. The popular events regularly feature renowned experts across fields from philanthropy to entrepreneurship to estate planning.
“We are witnessing a pivotal moment in history where women are not only inheriting wealth but are also becoming key decision makers in financial management. Conversations like this are crucial in fostering education around these opportunities,” Kress said.
Wooldridge, whose previous role included serving as the long-time business editor of the Miami Herald, guided the panelists through insightful questions regarding the unique challenges women face in wealth management, differences in investment behaviors between genders, and the importance of cultivating trustworthy relationships with financial advisors.
The panel addressed that the wealth management industry often tailors its approach to male clients, leaving a gap in addressing the distinct priorities of female investors. For example, they are more likely to emphasize sustainability, family legacy, and long-term financial wellness, pointing to a need for financial advisors to adapt their approach to better serve women’s goals.
With the rise of women as significant beneficiaries in this wealth transfer, due to such factors as outliving their spouses and realizing the fruits of their own successes in business, the panel delved into effective strategies for preparing for financial futures and the necessity of financial education in an age of misinformation.
Professor Heuson provided the audience with a list of informative websites she recommends to her students as well as offering tips such as joining investment clubs and being mindful of anticipating sudden life changes such as a divorce, business interruption or failure, and the need to care for ailing family members.
Hainline shared her years of knowledge of the time-honored best practices for wealth growth and preservation and her own perspective as a woman in a male dominated industry.
Zeder, one of the most successful businesswomen in Florida, spoke to the importance of investing in the community. The philanthropist and high-powered Realtor, part of The Jills Zeder Group of Coldwell Banker Realty — the nation’s top real estate team as recognized by The Wall Street Journal — sits on the board of several nonprofits and urged the women in the audience to give back to a cause that resonates with them, emphasizing that one mustn’t take from a community without giving back.
“I want my clients to not only enjoy their new home and for it to be a perfect match, but also to ensure they get involved in this community. It’s one thing to enjoy the waters of Biscayne Bay, or the benefits of world-class medical care, it’s another to get involved in its preservation and make an impact doing so,” Zeder said.
“The transfer of wealth provides an extraordinary opportunity for women to shape their financial futures. It is vital for us to create environments that facilitate learning and collaboration, empowering women to navigate this with confidence,” said John W. Harris, managing director of Coral Gables Trust.
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