Forum Partner Karma Forrestal was featured in the May 7
Dimensional Perspectives column, “Empathy and Expertise: How Financial Advisors Are Helping Clients During COVID-19.”
As one of the members of Dimensional’s Women and Wealth Community, Karma shares
how she has been advising her clients through this global pandemic. Karma
joined Dimensional’s Women and Wealth Community in 2017 as one of its original
members.
More Than Financial Advice: The Power of Empathy in Difficult
Times
Karma joined Forum in 2012. With nearly 20 years of experience
in the financial planning and tax planning fields, she has experience working
with individuals, small business owners, divorcees and retirees. As one of the
founders of the Forum Women’s Initiative, Karma is committed to helping women
become financially independent.
Karma’s journey to becoming a financial advisor took an
unusual path, one that nearly detoured to other professions including high
school math teacher and personal fitness trainer. In this Q&A, Karma shares
some of her personal story and advice for those interested in becoming a
financial advisor.
What career path did you think you would pursue when you
were in college?
Initially, I went to college to become a high school math
teacher and had visions of coaching girls’ basketball. By my junior year, I had
determined teaching middle school/high school kids would not be a good fit, so
I dropped the teaching major and graduated with a mathematics major. Not having
any clue what I wanted to do, I visited my college guidance counselor toward
the end of my senior year for some help. She told me a financial advisor had
recently stopped by the career center with a job opportunity as an
administrative assistant and she encouraged me to check it out. I ended up
applying for the job and getting it.
How did your career trajectory change from that point
on?
Now more than ever, I am a strong believer that most things
happen for a reason. About six months into that job, I found myself feeling
bored at work. During my one-year review, my supervisor and I had a candid
conversation about the fact that I was not feeling challenged and was concerned
about my career path. I had decided that I would leave financial services and become
a fitness trainer as I have always enjoyed being active and sitting behind a
desk was not working for me.
However, my boss had something else in mind. He challenged
me to dream big and step out of my comfort zone and become a CERTIFIED FINANCIAL
PLANNERTM professional. I took on the challenge, and three years
later, I earned my CFP® certification.
It was time for me to take a leap of faith and leave my
current firm to build my own book of business. I joined Forum, and I became a
partner in 2016. When I decided to become a partner, I took on the role of advocate
for myself as a female advisor in this industry.
What stands out to you when you think about the clients
you work with?
I feel so grateful for the chance to work with each and
every one of my clients. I think about how they started on their investing
journey, and almost every one of them began investing because someone close to
them told them to make a commitment to saving and make it a priority. I can
tell the same story, and it is something I will always appreciate – that
someone took the time to help me find my way. I consider it a privilege to have
such wonderful clients.
What advice do you have for those considering a career
as a financial advisor?
Regardless of whether there are good markets or financial crises,
it is important to know that choosing a career as a financial advisor will come
with stressful days. I have learned that two things are essential in this role:
having a support system and focusing on your own health and well-being. In my
experience, the support system that works best is made up of colleagues,
mentors, peers, family and friends.
Finally, you must prioritize taking care of yourself. A few
years ago, a colleague told me that if I did not take care of myself, I would
not be able to take care of my children. I think that is true of our
professional life as well. Being a financial advisor is tremendously rewarding
— recognizing your clients benefit more from having you there to support them when
you are rested, happy and healthy.