We haven’t been so successful to date recruiting women to be portfolio managers on Covestor. Of the many models we currently offer, only one is managed primarily by a woman – Vivian Lewis’ International Yield. It’s one of our near-term goals to change this.
For starters, we’re thrilled to announce the pending launch of three new models managed by women. Ruthie Ackerman Financial Planning did a writeup on the new models, including some quotes from Perry:
On Monday the investment advisor launched an initiative to recruit more women and urged other firms to do the same. “We’re tearing down Wall Street’s ‘Girls Keep Out’ sign,” said Perry Blacher, Covestor’s CEO, in a press release…
Hiring women is a good business move for Covestor. Women say they prefer to get financial advice from women, studies have shown. And are more than twice as likely to pick a female advisor.
“You don’t need to look further than CNBC’s top-rated ‘Suze Orman Show’ to see women’s demand for female financial advice,” Blacher said. “We’re striving to meet that demand by offering women more opportunities to invest alongside other women.”
Carrie Luckner-Zimmerman (pictured at right) and Riddhi Ruparelia plan to launch their first models on May 30th.
Luckner-Zimmerman will manage a Long-Short Hedged model, an aggressive equity portfolio based on market timing and perceived value. Luckner, who also runs a baking business, previously worked at a $4 billion hedge fund and as an equity trader. She has held Series 6,7 and 63 licenses.
Ruparelia will manage a Long Term Growth model, which seeks to invest in high growth companies after thoroughly analyzing their business models, management strength, growth potential and valuation.
Anna Jiang, a quantitative research specialist, is scheduled to launch her Covestor model in June.
Stay tuned to the blog for more details on these new managers and their models, including initial positions – sign up for our Smarter Investing weekly email (box at top right of this page). Or simply contact us for more information now.
