And there’s backlash if you’re too girly or too masculine. So much advice women get is to act like men and it’s uncomfortable and exhausting because you can’t be someone you’re not. How did you become the CEO of such an exclusive “boys club” on Wall Street? It can be you sending me an email after this interview and saying, “Hey Sallie, you mentioned XYZ on the call and here’s an article I thought you would like.” Sure, I have drinks and coffee but I do a lot of networking through email.” It doesn’t have to all be in a traditional and masculine style. Sure, but when you say networking, women cringe. Both of my businesses came through my network and it was nine introductions of loose connections to ultimately find my co-founder at Ellevest.” If you want to get back in the game, build a strong network, speak to people, get an advisory board position, do your research - there might be a start-up position. The key to success is networking - your next business opportunity is much stronger coming from a loose connection than a close connection. “Ellevate network is 65,000 women strong. That’s very different than, “hey do you want to buy a mutual fund?”
We develop highly customized investment portfolios to help women reach their goals. Ellevest gathers information from the woman, asks her what her financial goals are, and uses a very powerful algorithm to calculate what she can afford to do. The research is clear that women leave them after their husband’s death at a rate of 80 percent. Most of us have learned to expect that a financial adviser is an older gentleman, who women tend to say don’t understand them. Looks quite different from the traditional investment offering. We spent hundreds of hours with women co-creating the platform and came out to something that Own It We don’t have a minimum because we want to make it very approachable. “This is a digital investment platform for women. What can we do differently and how can I own this and how can I engage in this?” We need to shed some sunlight on it to go forward. When women lose their temper, people shut down. We allow men to have a broader range of emotions at work we allow them to lose their temper. Women need to have the courageous conversation about these topics. “Men who are successful are considered likable and women who are successful are considered unlikable. “Men have been socialized that way,” says Krawcheck. How do we get away from the “B” word and still be successful in business? All of these qualities bring enormous value to the workplace. Specifically, women bring relationship awareness, risk awareness, they don’t make rash decisions, and they look at the long-term picture.
It helps women tap into strengths they already have by looking at things holistically and from their lens.
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Krawcheck’s new book, “Own It, The Power of Women at Work,” draws on her experiences at the highest levels of business to show women how to seize this shift in power, to take their careers to the next level. I think it’s safe to say that she’s the most successful woman I’ve ever had the pleasure of speaking with – and ladies, she’s totally relatable.
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Today, she’s the CEO and co-founder of Ellevest, a digital investing platform for women and the chair of Ellevate, a professional networking group for women. Sallie Krawcheck – she was the CEO of Merrill Lynch Wealth Management and Smith Barney and the CFO of Citigroup.
Salute to Women Sallie Krawcheck, Headliner for San Diego Women’s Week Showing women how to seize the shift in power
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