Welcome to the Forty Over 40 blog. Every week we spotlight one of our honorees and their thoughts on reinvention, mentorship and momentum…plus a peek into what makes them tick.
This week’s Q & A is with Maria Chrin, Founder and Managing Partner at Circle Wealth Management, LLC.
1. What was a pivotal momentum of reinvention for you?
Deciding to leave Goldman Sachs after a wonderful 15 year career was a pivotal moment for me. I took a huge risk – leaving the stability and status for a total unknown. The decision to leave was driven by my realization that there was so much I did not know about the industry despite being considered a “veteran” at that time. I dedicated my time to Circle Financial Group (CFG), a wealth management peer organization for sophisticated women investors, which I co-founded. The experiences and learnings after 4 years of being in CFG eventually lead to my founding Circle Wealth Management, LLC. My mission was to create a different model for delivering wealth management services. This model is based on full transparency, alignment of interests, collaboration and education.
2. Who has been a valuable mentor or sponsor?
My maternal grandmother was my mentor and greatest sponsor. She provided me with the inspiration to pursue my passions and was an incredible role model. Having lived in Honduras her entire life and not having had a college education, she encouraged me to leave Honduras and study in the United States, sponsoring the cost of both my college and business school educations. When I was in business school and learned in my first term that I was pregnant, my grandmother spoke to my husband and me and asked that I do not quit Columbia Business School and that I continue to pursue my passion to work on Wall Street. She encouraged my Mom to move to NYC so she could help me with the baby while I finished my MBA and pursued a job in finance.
3. What is your biggest goal right now?
My biggest goal is to continue to build Circle Wealth Management and use its credence and success to promote and support financial education for women and girls around the world.
4. How did you get your first job? How did you jump to your second job?
I was determined to be on Wall Street, at a top firm, and was willing to apply to a job that most other Columbia MBA candidates were not interested in, in order to get my foot in the door. I was tasked with cold-calling clients in order to build my own wealth management practice within Goldman Sachs in NYC. Having grown up in Honduras and going directly from Lehigh to Columbia, I did not know many people to call on in order to build a business. Yet, I did it and over the years built one of the firm’s premier wealth management practices, managing several billion of client assets. The experience pushed me out of my comfort zone and helped me develop great entrepreneurial skills. I also learned not take “NO” for an answer and never to take rejection personally. I stayed at Goldman for 15 years and did not jump to a second job. I left the firm to explore and learn more about wealth management not knowing what I would do next.
5. What challenge / achievement are you most proud of?
I launched Circle Wealth Management (CWM), in 2007, a year before the financial crisis. This was a true test for me, personally and professionally, as I had invested a lot in the firm in terms of my time and financial resources. Although it was a very challenging few years, I am proud to have been able to help clients navigate well the difficult market conditions while simultaneously continuing to raise a young family and to build the new business and expand the team. 2008-2009 put CWM on the map given the care we showed and thoughtful planning we did for our clients. Those clients referred us to their friends in the subsequent years. All the assets we managed today, about $1.3 billion, have come from referrals. I am also proud that 80% of our clients are women and that 80% of the members of the CWM team are women.
6. What cause do you most want to advance?
Education, specifically financial education for women and girls, with a focus on the Hispanic community.
7. What song can’t you get out of your head?
“Happy” By: Pharrell Williams
Check out Maria Chrin’s full 40 Over 40 profile here!
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