Achieving Balance: Yesenia Beckmann on Setting Boundaries in Financial Advising

Yesenia Beckmann [00:00:00]:
But I think from my experience, it's it was a lot of it had to do with, yeah, being a Latina and maybe, not having the representation that maybe others did. Right? So I think I had to really hone in on the leadership and the mentors that I had.

Joanna Ehresman [00:00:34]:
Hi there. Thanks for joining us. I'm Joanna Ehresman. And I'm Leah Alter. And this is WomenShare, a celebration of women in financial services.

Leah Alter [00:00:43]:
And we are so excited today to welcome Yesenia Beckmann to the podcast. Alongside her husband, Yesenia launched Well Traveled Wealth in 2018. They saw an opportunity to connect their appetite for living life to the fullest and helping their clients do the same. She is passionate about making others feel heard, understood, and at ease. I mean, great attributes. As a financial adviser, I would say. Yesenia is also a connector of people creating long lasting relationships and friendships. That I can say for sure.

Leah Alter [00:01:20]:
I had the pleasure of meeting Yesenia and Todd when they were just thinking about launching their own firm and was really lucky enough to get to partner with them and helping them brand and name Well Travelled Wealth. Their vision and passion for their clients, absolutely unmatched. And it was really one of the most projects that I most fun projects that I've ever had the chance to work on. Their firm and their family are absolutely thriving, and we're just so excited to get to witness it and watch it all. And we're so happy to have you on the podcast today, Yesenia. Welcome to Women's Chair. Aw.

Yesenia Beckmann [00:01:58]:
Thank you so much. That's quite the introduction. But thank you. I'm so excited to be here.

Joanna Ehresman [00:02:03]:
Well and I'm excited to get to know you since Leah gave me a little bit of the backstory. So you essentially turned your career into a family business, right, and created a lifestyle that has become the mission of your firm. So you you really lean into the theme of, you know, bringing balance to both sides of your life, the personal and the professional. So tell us more about how that shows up, in your practice and in your client relationships.

Yesenia Beckmann [00:02:28]:
Yeah. I think it just it started with the realization of how Todd and I live our lives, and really the reason and the why behind starting our own firm. We are just ready to separate from that old traditional business model that was driven by numbers and acquiring that next new client. That just didn't align with our values at that point, and we didn't feel like that was going to really impact our clients in a positive way. And so both Todd and I found success early on in our careers individually. And so that allowed us to kind of merge everything together and truly create something special. I think in this business specifically, it's really the the sky's the limit. Right? You can grow your business as big as you want and put in the hours and all of that good stuff.

Yesenia Beckmann [00:03:27]:
And I think with Todd and I, it was special because we both think the same way when it when it comes to success and what that truly means. And for us, success is not a monetary target that we're trying to attain. We both are individuals that really value life, and we're fortunate enough to run a practice that we can really run it and and be grounded in our values and what we think and truly believe in. And to us, wealth is not something that you just collect over time. It's really something that you that allows you to live a fulfilled life. And, personally, that's how Todd and I strive to live our life. You know, we think that today in our present life is just as important as the future. And so for our clients, that's exactly what we try to help them do is really find the balance in their own lives.

Yesenia Beckmann [00:04:20]:
Right? What's important for them and have those heart to heart conversations of what's important for you to have in your future and plan for, but what are the experiences that you've really wanted experience today. Right? That's just as important. So we're definitely not the firm that's gonna sit down with the client and and try and convince them to save every single penny that they have. It's more of, you know, having, again, those heart to heart conversations and really be impactful in their overall life. I think and I think Leah will remember this, but one of the questions we were often asked was, who do you work with? What's your niche clientele, and who's your ideal client? And to be honest, I think that was kind of a tricky question to answer, you know, because I think as our firm grew and we evolved, we have figured it out that people that really value life, value taking care of themselves and their overall well-being and really on a mission to live an intentional life, though those are the people that we wanna work with. Those are the people and the relationships that we're passionate about.

Joanna Ehresman [00:05:28]:
It's not a demographic. It's like a psychographic mindset behavioral target.

Yesenia Beckmann [00:05:34]:
Yeah. And that's who we can relate to. Right? Yeah.

Joanna Ehresman [00:05:37]:
Yeah. Yeah.

Leah Alter [00:05:38]:
Well and we pushed you on that too. Right? Like, we had that conversation over and over again about it, especially coming out of the previous firm that you all were in where, there were very specific clients that you were serving. They were teachers, I remember, and, like, very specific. And the clients that you were taking with you, the themes that kept coming up for you was around, yeah, these ideas of what is most important to them, whether that was being close to their grandchildren or traveling the world or somewhere in between, like, all of those things. And, there were just, like, a lot of common values. So you have said becoming an entrepreneur and launching your own firm has really allowed you to stay true and authentic to who you are. So what does it mean to you to have the freedom and the ability to create this firm, but also this lifestyle for you and your family?

Yesenia Beckmann [00:06:47]:
Yeah. I think for me, it's just striving to live the life that I wanna see my clients live. Right? And I think it all just starts with us as individuals. Right? The way that we feel and the way that we the mental space that we're in kinda goes into our relationships with our family, our friends, our clients. And so I really do prioritize myself and making the time to take care of myself mentally and physically because I know that I can show up in a better and more intentional way in all aspects of my life. So when I'm home, I really try to be intentional with my time with my kids, with my husband. When I'm out of the office, I'm off, Right? I think it's easy, in this specific business for me to, you know, look at my phone, answer a quick client call or email really quick. But I know that I if I do that, I'm just not fully present in either avenue.

Yesenia Beckmann [00:07:51]:
Right? And in the office, I try to be very again, just intentional, it keeps coming up, but it's true. That's how I feel about it with my clients and having those hard conversations that maybe they've never had with anybody in their lives before. Right? Trying to uncover their aspirations in life and even their fears. And I think as an advisor, those discussions are truly what is impactful beyond the actual numbers. And we try, you know, as advisors to not only better our clients' financial position, but also their overall well-being. And that's honestly, for me, it's just putting in the work personally and professionally, that I'm asking my clients to do. And I think that's one of the main reasons that we left a captive broker dealer because it no longer felt authentic. Right? We were, you know, we were just practicing in a way that was true to someone else's values, someone else's goals, and their own vision, not ours.

Yesenia Beckmann [00:08:56]:
And so I think being an independent firm now allows us to truly give unbiased recommendations that are centered around our clients' best interest at all times, and then also have and create a business model that allows us to have our own balance in our own lives too.

Joanna Ehresman [00:09:16]:
So I'm curious to drill in on that point around the balance because I can just tell from the way you're speaking about your clients. Well, and this is true of so many advisers. Right? A deep sense of care and wanting to be responsive to their clients, but sometimes that can translate to, I am tied to my phone and need to respond immediately. So can you tell us a little bit about how do you set those expectations with your clients around availability, those boundaries, or do you solve it from a staffing standpoint to be like, hey. If I'm off, so and so is covering, and they know they can reach us within this like, I'm curious to hear more about that.

Yesenia Beckmann [00:09:51]:
Yeah. It's it's definitely tricky, and I think it's both. I think it's setting expectations with clients, and then also setting the structure within the office. Right? Because we do have to be responsive to our clients. We again, this business is beautiful. Right? We have the ability to just structure it in a way that caters to how we want to schedule our daily life, I guess, you can say. But for me, personally, I'm in the office 3 days a week, and I spend 2 with the kids. And so my clients know that.

Yesenia Beckmann [00:10:26]:
They know that I'm in the office 3 days a week. If I'm not here, Todd's here every day, and then we have our staff that is here to take care of anything that comes up. So I think it's just being very transparent with clients. But I do think that initially it was something that came with a little bit of fear because you don't want clients to think that you're not going to be responsive and you're not taking care of them. But I think it does, allow them to see you in a different light and just respect you in a different way, I think, and and they're happy for us. You know, they've seen a lot of these clients I've worked with since I was single with no kids. Right? So they they're so happy to be on this journey with me and know that know how I am and they're gonna be taken care of.

Leah Alter [00:11:15]:
Yeah. I love that. And it actually reminds me to, a previous guest, Terry Colson, was talking about that this is really an attractive industry for women that wants, to be able to structure their lives in a way where, yeah, they can be home with their kids, on certain days and in the office. And and it allows you to serve your clients in the most present way. Right? Yeah. Because you're not feeling, stretched so thin that you're only able to give a little bit, you know, when you're sitting down with a client or anyone. I mean, I've experienced this with you. You're fully present.

Leah Alter [00:12:01]:
Right? Like, what whatever whoever is in front of you is who you are focused on, and that sticks with a client. So whether they can talk to you on a Tuesday or not or whatever day that is Mhmm. They know that when they do have that interaction with you, it's gonna be a 100% present. And that I think is really, like, important and special.

Yesenia Beckmann [00:12:25]:
Yeah. Yeah. We've never had any negative feedback. I think it's the opposite. They wanna hear about the kids and what they're doing and what they're up to and just, yeah, enjoying this phase of life with me almost.

Joanna Ehresman [00:12:37]:
And the other point that I really, like, respected in what you said was the walking the talk. Right? Like, I am going to do myself what I'm asking my clients to do. You know, there have been situations in the past where I'm like, this is a financial adviser who is having financial issues in their own personal life. Right? You know? Like and and so I think it's really, a testament to your commitment, to to really, like, understand what it takes for the clients to do this because you are are doing it yourself, and and probably helps to encourage them. Right? And be like, oh.

Yesenia Beckmann [00:13:12]:
Yeah. Yeah. And I think I just and in talking with them, and it's a lifestyle. Right? It's not something that you can just do for a certain amount of time and then stop.

Leah Alter [00:13:22]:
Well and it's and when she talks about the things that she's doing physically to take care of herself, she's not bragging on herself enough. Like, she runs marathons, so training for marathons, that is a huge commitment. That takes a lot of time and focus, and I think, yeah, to your point, you're that it's exciting. Your clients are along for the ride when you're doing these types of things. Right?

Yesenia Beckmann [00:13:47]:
Yeah.

Leah Alter [00:13:47]:
Those are the kind of clients that are attracted to working with you all. They get

Yesenia Beckmann [00:13:51]:
I have clients sending me registration dates for races.

Joanna Ehresman [00:13:56]:
Like, it's really cool.

Yesenia Beckmann [00:13:58]:
You know? You connect with clients in a different level on a different level.

Joanna Ehresman [00:14:02]:
Yeah. Absolutely. Absolutely. And over the past few episodes, we've been going a little bit more deeply into diversity in our industry and would love to get your perspective. So how has the industry changed since you began, since your career started out, and where do you see the need for change both as a woman and as a Latina?

Yesenia Beckmann [00:14:23]:
Yeah. Gosh. I feel like the industry has changed tremendously over the fourteen and a half years, which is wild, that I've been in the industry for. But when I first started, a lot of it was in person. So, like, all the prospecting that we did, our marketing efforts, even our meetings. Right? Most of our meetings, actually all of our meetings were in person and most of the time they were at the prospective clients homes at all hours, you know. And so I think specifically as a woman that alone presents, potentially uncomfortable situations and even unsafe situations. I mean, I can think back to, wow, I can't believe I put myself in that position.

Yesenia Beckmann [00:15:11]:
Right? Right. But I think from my experience, it's it was a lot of it had to do with, yeah, being a Latina and maybe, not having the representation that maybe others did. Right? So I think I had to really hone in on the leadership and the mentors that I had. My family and in general, this career path is not the most common career path. Right? So my family, let alone a Mexican woman, and so I think my family struggled with seeing and understanding my vision, seeing me work 60 to 80 hours a week. Right? We were just talking about the flexibility that I now have. But early on in the in our careers, we had to put in a lot of work and hours to build what we've created. So I think for them seeing that and then just driving all over Southern California, meeting with clients and doing marketing events, it was very hard for them to swallow that and really trust that what I was doing was going to lead me to something that was worth it.

Yesenia Beckmann [00:16:21]:
So I think that would have been a lot easier if I had more representation and just someone I could really relate to on different levels and share, you know, moments of challenges or doubts and, even celebrations because I think even when my numbers showed success, I had a problem or difficulty really acknowledging that I was being successful. And in terms of changes in the industry, I think, obviously, there's a lot of changes that we need in our industry specifically for women, but I think encouraging and supporting, obviously, but encouraging more women to get into the business. It's evolved. Right? So we're going into more of a virtual working environment, and I think that alone poses a lot of challenges for women because it takes a lot more work for us to gain that trust in client relationships and that confidence in the relationship. And so I think as we move into more of a virtual world or working environment, that's gonna be a little bit more challenging for women entering the industry. But with that being said, we bring such a different approach and perspective in the planning process. And even statistics show most of the decision making is based off of or led by your emotions, and I just think that women are better at tapping into those emotions than men are.

Joanna Ehresman [00:17:45]:
Yeah. Reading them and maybe telling them out, right, if it's negatively impacting a client's decisions or not telling them out, but discussing them. Right.

Yesenia Beckmann [00:17:53]:
Yeah. And just Mhmm. Having those heart to heart conversations that really, you know, like I said, are the most important discussions you can have.

Leah Alter [00:18:02]:
Yeah. Well and and and to the further point too about, more women in the industry, I know when you part of your initial growth plan was to bring in additional advisors, to your firm and you brought in 2 women initially. Is Todd still the the odd man out there? He is.

Yesenia Beckmann [00:18:24]:
Yes. He sure is. At some point, maybe that'll change, but, yes, it's 3 women and Todd.

Leah Alter [00:18:32]:
Yeah. I'm sure he loves it.

Joanna Ehresman [00:18:34]:
Sounds like a certain is

Yesenia Beckmann [00:18:35]:
in our admin site. That's for women.

Joanna Ehresman [00:18:38]:
Yeah. 1 so you mentioned the part about your family kind of grappling with your career decision. Would love to just hear a little bit more about that. Did you were there times where they were, like, actively quest not discouraging or questioning, but being like, are you sure this is right simply because they hadn't seen

Yesenia Beckmann [00:18:55]:
Yes.

Joanna Ehresman [00:18:55]:
You know, this okay. Yeah. Interesting.

Yesenia Beckmann [00:18:59]:
Yeah. So I think that's kind of my point in in talking about I didn't have the encouragement, in that push, right? It's a very tough industry to get into. So you really have to have thick skin and determination, in the beginning. So, yeah, I had my dad, you know, trying to convince me almost daily. Wow. You you should probably take a different path. And so, you know, that's just I think it's a natural thing for a parent to say because like I said, I was working a lot and driving a lot, and it wasn't a career path that was that they understood, you know, that the average person can understand really, let alone, you know, my family. And so, yeah, I think that was very challenging, but I think that just made me more stubborn in making it work, wanting to see the the success at the end of the of that all all that work.

Leah Alter [00:19:55]:
Yeah. So you all have really embraced social media and what we marketers call first adopters, you know, when, like, new platforms become available. And you guys have been using video and social media really since you launched the firm to help, raise awareness about your firm. So can you talk a little bit, about how you use that, and, what the success has been from doing that?

Yesenia Beckmann [00:20:24]:
Yeah. So, yeah, social media and just, digital marketing, I think we just realized how integral that is for every single business out there. So we have made it a point to make that a priority. And I think for us, it's just being more accessible to our clients and just providing more education on our current clients of what's going on behind the scenes. Right? We're obviously in touch with them throughout the year, but a lot of information is hard for them to understand or even gather from statements or, you know, reports that they get. So I think just giving them some insight throughout the, year in video format is really helpful and we've received really great feedback on that. And for current and prospective clients, we've also used it as a way to let them into our personal life. So showcasing what we're up to personally, you know, random trips that we've taken or times that we're out of the office.

Yesenia Beckmann [00:21:24]:
And I think kinda going back to the point that we made earlier, the fear was always that it was going to translate to us not taking care of our clients, but we've realized that it's actually strengthened our client relationships and even brought new clients through our doors. It's also just sparked really unique conversations and commonalities that we probably wouldn't have known or had without that. You know? So, yeah, it's been great, and it's definitely a work in progress, but, it's definitely something that we prioritize.

Leah Alter [00:21:59]:
And I'm guessing, you know, speaking of social media, those are, like, the post that get the most engagement,

Joanna Ehresman [00:22:05]:
the

Leah Alter [00:22:06]:
most comments, like Yeah. Right? People are so excited to get to know the real you and Yeah. You know, or the person outside of the office who, and and the things that you're passionate about.

Yesenia Beckmann [00:22:21]:
Yeah. Yeah. And just like what you were saying, Joanna, is walking the talk. Right? And showcasing the way that we live our life and and those family trips are important for us. And, yeah. So it's been really, really great. And we do a newsletter, that always starts with a personal piece at the very beginning of each newsletter each month. And, yeah, we've received great feedback and always get comments or emails back, which are so cool to read.

Joanna Ehresman [00:22:51]:
Oh, that's great. Well and I think it's it just seems like I don't know. In the past handful of years, we're, like, in this era of authenticity where I don't know if it's there's more people now in the business who are, like, social natives. Right? We grew up or or at least from college and beyond, right, had had more social media in our lives. And so I think people sharing, you can still be perceived as professional and a competent adviser, but also show up as someone who's an athlete and, you know, interest has these hobbies or has children, that sort of thing. And they it's like this you see all sides of someone, and I think that helps to foster familiarity and liking. Right? Like, people can be inspired by what you're doing or they can resonate later. Like, oh, yeah.

Joanna Ehresman [00:23:39]:
Me too. Right? Like, we

Yesenia Beckmann [00:23:40]:
we have

Leah Alter [00:23:41]:
to get

Joanna Ehresman [00:23:41]:
on that point or we have that in common. So I just think it's a really interesting,

Yesenia Beckmann [00:23:46]:
And the importance of boundaries too. Yes. Right? I think for everybody, not just a professional or a mom or a friend, like, everybody, it is very important to have and draw those boundaries and stick to those.

Leah Alter [00:24:00]:
So yeah.

Yesenia Beckmann [00:24:02]:
Do you

Leah Alter [00:24:02]:
all still have your, like, client family wall in

Yesenia Beckmann [00:24:05]:
that office? Do. Yes. Absolutely. And it's What is this? It's awesome.

Leah Alter [00:24:10]:
Okay. Tell tell us all about that. I should've I didn't even plan to ask you about it, but as you were talking about it, I was like, I wonder if they still do that.

Yesenia Beckmann [00:24:18]:
Yeah. So like we were saying, I think balance in someone's life, it it means something different to everybody. Right? And so we created this wall, and it's called the pursuit of well traveled wealth. And we invite every single client and every new client, it's almost a requirement, to send us a picture of themselves doing what brings joy to them in their life. So we have this wall in our office right when you walk in dedicated to our clients. And so it's really neat because we'll have clients come in and look for their photo, and we encourage them to update them along the way too. Or we'll have clients that come in looking for their friend that's also a client. So it's great, and I think it just, yeah, it just adds to that relationship and the care that we have with our clients.

Joanna Ehresman [00:25:12]:
Well and I was gonna say it's it it it's like a good reminder for your team too to see the faces and the people. You're like, that was always meaningful for me. Do you remember this is I'm probably dating myself. Saturn, the car company, when they had the commercials where they'd have the picture of the person the car was being built for as it's going through the assembly line? So, anyway, it just, like I think I think that's meaningful, right, when you can be, you know, sometimes in a more, like, technical mode or you're, you know, putting, I don't know, plan financial plans together or whatever to zoom out and be like, and this is for Leah. Right? And here's Leah's face. Right? So that's really cool.

Leah Alter [00:25:49]:
What a Yeah. Yeah. Definitely.

Yesenia Beckmann [00:25:51]:
Yes. We love it.

Leah Alter [00:25:52]:
Great. And it's like it's very Instagram worthy too. Yes. I don't think I do. I do think that's the

Yesenia Beckmann [00:26:00]:
we need to do a better job of that, but, yeah, it's right at the entrance, which is great because we see it twice a day at least.

Joanna Ehresman [00:26:06]:
Yes. Oh, that's wonderful. Okay. So I'm curious to hear what's the best career advice you've ever received.

Yesenia Beckmann [00:26:13]:
Gosh. I think what keeps coming to mind when I think about this question is put your blinders on. This is something that, you know, I can't even remember who told me this, but, this is something that has carried me through my career from the very beginning, and I continue using it through each phase of our career and even personally, but, really just zoning out all of the noise and distractions that are around when you have to focus and it's time to focus. I truly don't think I would have made it in this career and been successful if I had not put my blinders on because there's a lot of noise, a lot of distractions like we previously talked about. So really just putting your head down and focusing and going straightforward.

Joanna Ehresman [00:27:08]:
I love that. That's great.

Leah Alter [00:27:10]:
I do too. I well and it's you know, when you know what your purpose and your mission is, then it that gives you permission to, yeah, to to cancel out all the other noise. I know my purpose. I know my mission. And if it's not adding, then there's

Yesenia Beckmann [00:27:32]:
no place for it here. Even even, personally, like what you mentioned when I was training for my marathon, I mean, there were a lot of sacrifices and a lot of distractions, a lot of things that could have derailed me, but putting my blinders on really helped.

Joanna Ehresman [00:27:49]:
And, like, trusting trusting your, your knowing that this is right. Right? And, like, choosing to let the naysayers not even get into your head.

Leah Alter [00:28:00]:
Yeah. Yeah. Love it. Okay, Yesenia. What can we celebrate with you today beyond I mean, lot to celebrate professionally. But beyond professionally, what can we celebrate with you today?

Yesenia Beckmann [00:28:14]:
Gosh. I think, honestly, I think women have a hard time celebrating ourselves and really talking about, moments of worthy of celebration. So thank you for that.

Leah Alter [00:28:26]:
We put this Yeah. Why we put this in the show.

Yesenia Beckmann [00:28:32]:
Gosh. I guess that I'm just someone who is constantly looking for the next challenge, and my goal is just to continue growing as an individual because I truly think that it has a ripple effect in everything and everyone in my life.

Joanna Ehresman [00:28:47]:
Yes. Being that role model. Right? Like, sharing your story here today, demonstrating it for your clients, demonstrating it for your family. Right? Like, that's absolutely

Leah Alter [00:28:57]:
worthy of celebration. Love that.

Joanna Ehresman [00:29:01]:
It's always the part of the show where I get misty. Sorry. I'm like,

Leah Alter [00:29:07]:
oh. Yesenia, this conversation flew by, first of all. I just looked at the clock and read it. It did. How did that end it? This has been an amazing conversation. Thank you so much for being here and sharing your story and, yeah, letting us in on how well traveled came about. It's really such an amazing story and you and Todd are such amazing examples of being able to really see a vision and make it happen. And, we're just so thankful that you are here to share with us.

Yesenia Beckmann [00:29:43]:
Yeah. Thank you for having me, and a special thank you to you, Leah, because you were such a gift in the beginning of all of this. And a lot of this is because of you, so thank you.

Leah Alter [00:29:57]:
It truly is, like, one of my biggest honors to have met y'all and gotten to work with you. My heart just pitter patters to see you guys, like, thriving and seeing this vision through. So

Joanna Ehresman [00:30:13]:
Yeah.

Leah Alter [00:30:14]:
My truly my honor. And thank you. Thank you.

Joanna Ehresman [00:30:19]:
Yesenia, if if people wanna connect with you, if they heard your story and they wanna check out what you're up to, at Well Traveled Wealth or connect with you directly, what's the best way to for them to find you?

Yesenia Beckmann [00:30:30]:
I think the best way is through our Well Traveled Wealth Instagram. Yeah. So it's just at Well Traveled Wealth and you can find us on Facebook too, Well Traveled Wealth, LinkedIn, of course. And then my email, you can share it with, everybody too, but it's yacenia@welltraveledwealth.com.

Joanna Ehresman [00:30:48]:
Excellent. Thank you. Thank you. Well, that is our show for today. If ours is a mission that you want to share in, subscribe to WomenShare on your favorite podcast platform. With that, I'm Joanna Erisman. And

Leah Alter [00:31:00]:
I'm Leah Alter, and we will catch you on the next episode of WomenShare.