As with many previously male-dominated industries, the financial sector is undergoing an equal-opportunity makeover. More women, such as Morgan Stanley financial advisor Mary Willi, are discovering that not only are they interested in finances-they're good at it, too.

Willi received a degree in accounting from Bradley University right out of high school but quickly moved away from the industry. "Shortly after graduating from Bradley-and after a year of working at McGladrey Henrickson in public accounting-I realized I wasn't suited for this work," she said. "I needed people contact. I made the change to private accounting, taking a job with Dynamic Graphics as assistant comptroller in 1980. This rapidly growing company needed someone to handle its personnel and HR needs, and this became my niche. It had just the right combination of 'numbers' with plenty of people contact as well. I worked for almost 14 years at DG as director of human resources-until it became necessary to give up my position to spend more time with my children."

Although most of her career has been spent outside the financial services sector, Willi said she's always been intrigued by the stock market and investing. "Beginning in college, I started working for a dear uncle who did extensive investing and who had been very successful financially. For most of my adult life, this uncle depended on me and my brother, Scott, to do the recordkeeping for his investments. He would answer our questions and give advice on how to be successful financially. I didn't appreciate it when I was young, but all of this exposure taught us a great deal about saving and investment."

And that's the direction she turned when she decided to get back into the workforce in 2002. "When my brother called and asked me to consider working with him at Morgan Stanley, I was flattered to say the least. Scott had entered the business in 1985 and had very successfully built his business to the point of needing a partner. I was scared to death; the dropout rate for new trainees in this business is about 80 percent. Admittedly, it's been tough, but nearly three years later, I'm here. I love the excitement of the market, and I love our clients. I consider myself very lucky."

In general, Willi said her main responsibility is to provide service and advice to clients. "It's my job to proactively call our clients to keep them updated on their account activity. I meet with clients and prospects to prepare financial plans to give them the information they need to make informed major life decisions, such as retirement. I also offer educational seminars and manage our asset allocation investment strategy. Since market conditions are constantly changing, a big part of my job is making sure client assets stay allocated according to our plan."

She said although she has a job description, every day is different. "I do have a morning routine, however: I watch and chart the investments we recommend and read the news available on these holdings. Beyond the first hour or so of the day, the rest could consist of making review calls to clients, researching an investment, placing orders, meeting with a client to do a financial plan, meeting with a prospect who has a 401K rollover to invest, building a report, or meeting with a client who's lost a loved one. The variety of the job and the opportunity to help clients achieve their hopes and dreams and resolve their concerns makes the job very rewarding."

Her clients' biggest concern, she said, is meeting retirement goals. "Then, depending on which phase of life a particular client is in, the next concern is either college funding, for those in the accumulation stages of life, or for clients whose dependents are grown, the concern becomes estate planning."

Willi said the gotta-have-it mentality is a financial misstep she sees a lot. "We live in the wealthiest country in the world. We've grown very accustomed to having everything we need, and thanks-or not-to the ready availability of credit, we can have everything we want-and have it now. The biggest mistake people make is exercising a lack of financial discipline."

The following are a few basic principles she tries to instill in those she works with:

Willi said the best way she's found to help someone improve her financial discipline is to arm her with information. "It takes a very small investment of time to prepare a financial plan, and it's free for clients and prospects. A financial plan prompts an individual to set financial goals."

The biggest misconception she runs into is that financial advisors know what the future holds. "I've heard my brother tell our clients, 'I wish I were as smart as you hope I am, but I'm not.' The truth is, it doesn't matter how smart we are; we can't possibly predict or control the future or the market," she said. "We can do the best to position our clients' holdings to achieve their goals with the least amount of risk possible, but some risk is usually inevitable."

Not surprisingly, the best part of Willi's job consists of the people she works with. "Seniors hold a very special place in my heart, and, as you can imagine, a large percentage of the group we work with are seniors. Seniors are relaxed, easy-going people; they're patient and full of knowledge. The most challenging part of the job is working for a large, global corporation. This is a far cry from the small, privately owned corporation I 'grew up' with. When you had a concern, the key decision-maker was just down the hall; I crave those days of simplicity."

Now that she's through with the initial training phase-and has survived-her next goal is to gain the Certified Financial Planner designation, Willi said. "This will help deepen my understanding and knowledge in my field and give me better credentials to attract new business."

Her years in the business have already resulted in accumulated knowledge, however. "My advice for all married women is don't get lulled into thinking you don't need to pay attention to your finances. Life is unpredictable, and you never know when tragedy can strike. Make sure you're asking questions and learning. Attend seminars, read a book, etc. Every adult needs to know how to handle her finances." TPW