Today we’d like to introduce you to Ekua Anyanful.
Ekua, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I am Ghanaian and I initially came to the US to go to graduate school. I was admitted into the MBA program at Adelphi University in Garden City, NY and in my last semester of this program, I was offered the opportunity to work with then American Express Financial Advisors. So, in 2002 I took the insurance license and security license exams Series 7 and 66 and started practicing as a Financial Adviser with the company. The field of financial planning was new to me, and during this time, I went through a divorce and needed my own services. Suddenly, I was a single mother with an 18-month-old daughter and had to plan for a future that I did not prepare for. There are too many stories like mine.
However, I was fortunate to be in a professional field, whereby I knew what planning needs to be done. Nevertheless, it was not easy for me; I had just started as a Financial Adviser and made approximate $39,000 that year in New York, where rent, utilities and daycare cost a little fortune. It was riveting to know the impact that financial planning and advice can have on a person’s life and ever since I have been an advocate for financial planning for women. My commitment to providing quality advice earned me the 2003 President’s Recognition Award with the firm.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
I became an excellent financial adviser at American Express Financial Advisors coaching new advisers but later on, in 2004, I joined JPMorgan Chase for an opportunity to work closer to Wall Street and to gain additional experience. This was short-lived since I relocated to Texas in 2005. I ended up working with Citi Group and Smith Barney as a financial adviser. I had remarried and thought life was going to different until I was laid off in 2007 and had to decide whether to work for another company or go independent and run my own practice. I was afraid of running a business and possibly failing, but I was also tired of being at the mercy of big corporations that can hire and lay me off in a heartbeat.
So, I gathered the courage, did some research, and found out that I can practice as an independent Financial Adviser. 2007 is actually the worst time to transition to be an independent adviser. We had a down market, and here I am responsible for my own operating expenses and my income. Needless to say, the loss of income took a toll on my new married life. I did not get the support that I needed from my new husband and it was déjà vu all over again. I did not have the courage to go through another divorce, so I stayed and struggled through both my marriage and my business.
In 2009, I was approached by a business partner and friend that I worked with at American Express Financial Advisors in NY to start a partnership in a Registered Investment Advisory firm. (RIA) I was excited. This might be the turning point for me. A managing partner in a firm, will still give me the independence that I seek, yet provide the support from other knowledgeable advisers. There were three partners, two males and me and unfortunately, dissension started brewing with one partner and the once exciting opportunity turned into a nightmare of proving myself and working in a toxic environment. Once again, I found myself having to make a decision to leave a company that I started with two partners but this time the difference is that I have experience of running a business and managing others since I was also the COO of the firm.
In December 2011, EA Wealth Management was born. It is difficult to be a black woman running your practice in a male and white-dominated industry. Statistically, you acquire less assets than your male and white counterpart even though you are as experienced and educated as them; and, in some cases, more than them. However, I did not let that deter me. I chose to work with integrity, harder, build trust and networked. Hence my own company, my rules and I am committed to run my own private practice and I am proud and excited to know that the company that bears my name has survived and thrived and provides pro-bono services to women in need who cannot afford financial planning services.
EA Wealth Management – what should we know? What do you guys do best? What sets you apart from the competition?
EA Wealth Management is a company that provides access to comprehensive financial planning, advisory and investment services to both individuals and businesses. The cornerstone of the company’s business is providing the highest level of objective financial services and advice. Amid an increasingly complicated financial arena, we believe working towards your financial goals require:
• Solid, objective advice
• Meaningful, timely information and research
• Easy access to the investment and services that best fit your specific circumstances
The company Specialties in Financial Planning Services Analysis and Investments that include:
Cash Flow and Budgeting
Investment Management
Insurance and Risk Management
Retirement Planning
Tax Planning Services
Estate Planning Services
The company is a 100% woman-owned for-profit company, but what the company is most proud of is our pro bono education and financial planning analysis for women and business owners who need financial planning services but have limited resources. The financial planning education for women is a monthly series held on the first Thursday of the month and each attendee is offered a complimentary consultation to start a financial plan.
What sets EA Wealth Management apart from other firms is our client-centric process focused on pursuing specific milestones we create together. Our comprehensive, three-step planning process is designed to help identify your needs, implement your strategy and monitor it regularly to help you stay on course.
1. Assessing Your Needs and Finances – We begin by asking you to complete a confidential personal profile that helps us gain a deep understanding of your current financial situation.
2. Preparing Your Plan – We provide a detailed analysis of your finances, develop a variety of customized strategies, then offer suitable recommendations to address your future needs.
3. Implementing and Monitoring Your Strategy – Once, you select the most suitable approach. We put your personalized plan into action. We then maintain consistent communication with you, carefully monitoring your portfolio and making adjustments when necessary.
What is “success” or “successful” for you?
Success, for me is defined, by my ability to work towards and achieving my goals as well as creating a legacy that is defined by my life’s mission to volunteer and give back to society. As my life and circumstances changed so did my goals. My initial goal when I first came to the US was to earn my MBA degree and work in finance in a corporation. Generic, but concise enough for me to achieve that. As I became a mother, I realized that it was not enough to achieve financial success, rather I was drawn to being a better person and a great role model for my daughter.
So with that thought, when I started my own practice, it was important to have a work-life balance and still show my daughter that I can have a profession and still be there for her. There was a need to give back hence why I started the financial planning series for women. I also joined my current Rotary Club and immersed my daughter and myself in service projects within our community. Success for me is not an endpoint, but a process of creating and achieving goals that keep evolving as my life does. Some are measurable but others just provide a sense of worth.
Contact Info:
- Address: 5601 Bridge Street, Suite 300 Fort Worth, TX 76112
- Website: http://www.eawealthmanagement.com/
- Phone: 1.888.539.4470
- Email: eanyanful@eawealthmanagement.com
- Facebook: https://www.facebook.com/eawealthmanagement
- Twitter: @EkuaAnyanful
- Yelp: https://www.linkedin.com/in/ekuaanyanful/
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