{"id":9118,"date":"2023-08-06T08:25:04","date_gmt":"2023-08-06T08:25:04","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/wealth\/this-advisor-puts-community-first-when-managing-nearly-200-million-for-clients-at-new-york-life\/"},"modified":"2023-08-06T08:25:05","modified_gmt":"2023-08-06T08:25:05","slug":"this-advisor-puts-community-first-when-managing-nearly-200-million-for-clients-at-new-york-life","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=9118","title":{"rendered":"This Advisor Puts Community First When Managing Nearly $200 Million For Clients At New York Life"},"content":{"rendered":"
\n

Name: <\/strong>Melanie White Terry<\/p>\n

Firm: <\/strong>New York Life<\/p>\n

Location: <\/strong>Columbia, MD<\/p>\n

AUM: <\/strong>$166 million<\/p>\n

Forbes Rankings: <\/strong>America\u2019s Top Financial Security Professionals, Top Financial Security Professionals Best-In-State<\/p>\n

Background: <\/strong>Melanie White Terry grew up in Columbia, Maryland, where she now works and gives back to the community. She first joined an investing club at age 16, along with her mother and a few other women and their daughters from the same church group. \u201cThis was back when we had to go to the library, research companies and plot out graphs by hand,\u201d she recalls. The club\u2019s track record turned out to be a huge success and they won statewide recognition. When she began studying at the University of Virginia, White Terry thought she might ultimately go into sports medicine. But by her second year, she had decided to focus on economics instead, thanks to her experience with the investing club. After graduation, she spent several years working for Wells Fargo
\n WFC
\n <\/fbs-ticker> at a desk job\u2014though she quickly realized it wasn\u2019t her calling. In 2000, she joined what is now Ameriprise Financial
\n AMP
\n <\/fbs-ticker> as an advisor. \u201cI loved it\u2014there was never a dull moment and I enjoyed taking on a new challenge every day,\u201d she recalls. Two years later, she joined New York Life where she has worked ever since, now mainly focusing on helping clients within the community she grew up in.<\/p>\n

Competitive Edge: <\/strong>White Terry prides herself on taking very meticulous notes and constantly checking in with clients, either reminding them of their goals or asking if anything has changed with their financial plans. \u201cA lot of times that means constantly explaining, reassuring and going over the plan, not to mention regular review meetings,\u201d she says.<\/p>\n

<\/fbs-ad><\/p>\n

Lessons Learned:<\/strong> \u201cThe biggest lesson I\u2019ve learned is to always put the client first\u2014don\u2019t try to figure out a solution before going through all of the options and make sure to involve them in that process,\u201d says White Terry. \u201cIt helps me sleep at night that my clients know I\u2019m a trusted resource.\u201d<\/p>\n

Investment Philosophy\/Strategy: <\/strong>\u201cMy main mission is to help clients crystallize their objectives and put a plan into place,\u201d says White Terry. \u201cOften I\u2019ll start off with a bit of education, staying mindful of risk tolerance but also how things are taxed and what kinds of opportunities are available.\u201d For clients who are retired or retiring soon, she designates a certain portion of their dollars for a guaranteed income bucket, which may include anything from a lifetime income annuity to a pension plan or social security. For younger clients, she takes a similar approach but using different tools, paying particular attention to creating a tax-free bucket of assets. \u201cMost folks don\u2019t understand how life insurance can be used as a tool for planning purposes, so that is a constant area of reassurance to re-explain what this is and how it works,\u201d she says.<\/p>\n

Investment Outlook: <\/strong>\u201cThere\u2019s no crystal ball when it comes to markets so I think it\u2019s important to maintain diversification across various lines to make sure that despite uncertainty there\u2019s a way to pivot and be okay,\u201d says White Terry. This means maintaining diversification not just on risk tolerance, safe liquid assets or longer term equities, but also being mindful of inflation and taxation, she says. \u201cIf we have money well positioned across various strategies there\u2019s not much that can derail a client\u2019s plan.\u201d<\/p>\n

Favorite Movie\/Activity: <\/strong>White Terry loves to be active in and give back to her community\u2014she\u2019s been involved with the same church since she was just six years old. She often attends different events like retirement fairs or workshops and also works with different municipalities. Her favorite movie is Coming To America, starring Eddie Murphy.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Name: Melanie White Terry Firm: New York Life Location: Columbia, MD AUM: $166 million Forbes Rankings: America\u2019s Top Financial Security Professionals, Top Financial Security Professionals Best-In-State Background: Melanie White Terry grew up in Columbia, Maryland, where she now works and gives back to the community. She first joined an investing club at age 16, along<\/p>\n","protected":false},"author":1,"featured_media":9119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":{"0":"post-9118","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-wealth"},"yoast_head":"\nThis Advisor Puts Community First When Managing Nearly $200 Million For Clients At New York Life | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Name: Melanie White Terry Firm: New York Life Location: Columbia, MD AUM: $166 million Forbes Rankings: America\u2019s Top Financial Security Professionals,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=9118\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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