Ashley H Laubach of UBS Wealth Management USA: 5 Things to Look for When Hiring a Financial Planner or Financial Advisor

Is the advisor a good listener? Thoughtful financial advisors ask questions about the lifestyle you want and your financial goals for the future. Be sure to explain your expectations of a financial advisor. As a prospective client, you should be doing most of the talking, while the advisor listens intently. Also, ask the advisor about their background; how they got started in the financial services industry. You’ll sense whether they are a good fit for you.

As part of our series about what one should look for when hiring a financial planner or advisor, I had the pleasure of interviewing Ashley H. Laubach, Senior Vice President of Wealth Management and Financial Advisor, CFP®, CRPS®, with UBS Wealth Management USA, based in the firm’s Orlando, Florida, office.

Ashley H. Laubach is a nationally recognized Certified Financial Planner® (CFP®) and Chartered Retirement Plans Specialist® (CRPS®) with more than 20 years of experience in the wealth management industry, helping affluent individuals and families achieve their long-term financial goals.

Ashley joined UBS in 2001 and specializes in asset allocation and portfolio management, focusing on retirement income planning, education funding, charitable giving, and estate planning. She holds Series 7 and 66 securities licenses. She earned a B.S. in marketing and international business from Pennsylvania State University.

Ashley was named to the Forbes/SHOOK Research List of Top Women Advisors in 2020, 2021 and 2022. She has also been named to the Working Mother/SHOOK Research Top Wealth Advisor Moms list every year since 2018.

She volunteers with the Women’s Executive Council of Orlando and raises funds for scholarships granted to deserving women who are entering or attending colleges in the Central Florida area. A native of the greater Philadelphia area, she lives with her husband, Mathew, and four-year-old son, Jackson, in Windermere, Florida, and enjoys playing golf, traveling, and spending time with her family and friends.

Thank you so much for doing this with us! Our readers would love to ‘get to know you’ a bit more. Can you tell us a story about what brought you to this specific career path?

It was by serendipity and good fortune that I joined UBS in 2001 after graduating from Pennsylvania State University with a degree in marketing and international business. While on my job search in Jacksonville, Florida, I hand-delivered my resume to the first office in the first building I visited, which was UBS. I met with the management team and was quickly hired. After relocating to Orlando in 2002 and seeking employment there, I again delivered my resume to the first office in the first building I entered, and again it was a UBS office. Happily, I rejoined UBS and was quickly named to the firm’s exclusive “Top 35 Under 35” Financial Advisor program and Director’s Council. After more than 20 years with the firm, I am grateful that my career pursuits led me to UBS.

Are you working on any exciting new projects now? How do you think that will help people?

As we move past the pandemic, I think many people have taken time to reflect and reprioritize what’s important in life, both at home and at work. This time has provided an opportunity to focus on our strengths and develop ways to improve. I believe in surrounding yourself with positive people that bring out the best in you and complement your skill set and business acumen.

Currently, I’m taking time to assess whether to build out my team to fill in any gaps or needs in our services based on our fundamental purpose of providing the best services possible to our clients. It’s important to take time from the day-to-day busyness of life to evaluate what’s truly important and focus on how you can be more effective. Our career and business efforts are not solo experiences. Recognizing the unique talents and perspectives of others brings greater diversity and value to the team.

Many positive impacts and outcomes are achieved when we focus on the short- and long-term goals of our clients, families, and communities.

In the wealth management industry, cultivating trusting relationships is at the core of what we do. We become an active, trusted advisor and confidant to the individuals and families we serve. They are trusting us with planning their financial futures, from planning for real estate investments and their children’s education to securing wealth for their retirement and philanthropic aspirations. To be truly effective as a financial advisor, you need to earn the confidence of your clients. That means taking the time to fully understand their feelings, wants and needs throughout their lifetime as well as those of their children and families. Open and ongoing communications are critical.

I’ve also been reading a recommended book: The Ruthless Elimination of Hurry: How to Stay Emotionally Healthy and Spiritually Alive in the Chaos of the Modern World. The essence of the book is about how to maintain balance, effectiveness and happiness in a fast-paced world by focusing on the opportunities you have to bring greater value and joy to others.

Are you able to identify a “tipping point” in your career when you started to see success? Did you start doing anything different? Is there a takeaway or lesson that others can learn from that?

I have always worked well as part of a team. I enjoy the positive results of collaboration with my colleagues and clients. In 2012, when there was a shift in my team’s structure, I was faced with leading my business unit independently and being the sole decision-maker. And first, it appeared daunting. But the situation forced me to trust my instincts and be confident in my experience and expertise in leading a successful financial planning team. I learned to trust my ideas and initiatives without needing validation from others. That’s a very important life lesson. People, especially women in the finance industry, need to trust the value they bring to the table. During that experience, I was further reinforced by my clients’ support and recognition of the work I was doing for them. I had found my voice and trusted myself, overcoming any previously perceived fears. I was on the right track to climb over any challenges step by step, achieving one milestone at a time.

Similarly, in my personal life, I was fearful of becoming pregnant and having a miscarriage as I had experienced a loss in the past. I told myself I would get past the fear one month at a time. So after 9 weeks, 12 weeks, and 22 weeks of being pregnant, I kept myself calm and did not worry about things that had not happened. I gave birth to a beautiful son.

Just keep moving forward and doing the right things each day. As in the message of the movie, Finding Nemo, “just keep swimming.”

What three pieces of advice would you give to your colleagues in the finance field to thrive and avoid burnout? Can you give a story or example?

We all experience periods of feeling overwhelmed or tired.

My first recommendation is to find a colleague that you respect and trust, someone you can speak with honestly to share your feelings and thoughts. Some time ago, I reached out to a UBS branch manager that I had known for many years, Theresa Bursey. Theresa has held several leadership positions within the firm.

While at one of the firm’s recent regional women’s conferences, I spoke to Theresa about upcoming changes within my team, asking her advice about how to avoid feelings of uncertainty amid a changing work environment, especially during the pandemic. Theresa introduced me to another advisor, Lisa Chapman.

Lisa and I had an inspiring conversation. The level of validation and confidence she gave me was exactly what I needed to hear. Lisa understood what I was feeling and shared her wisdom of experience and confidence as a woman in the finance industry, which has historically been a male-dominated field.

Lisa helped me to recognize again that change is inevitable ― you may be joining a new team, taking over an established business, or being faced with new challenges. There’s no need to reinvent the wheel; ask and learn from others who have been in similar positions. But most importantly, believe in yourself and trust that you are doing a terrific job and move forward fearlessly.

Secondly, she posed the question: What makes you happy? It gave me time to pause and think about what I was doing to bring more joy into my life and to those around me. It’s reciprocal ― when you give time to yourself, you are strengthening yourself to give and receive more from others. Everyone wins.

When you acknowledge that you need time for yourself, you begin to set boundaries, both in your personal and business life. That’s the third piece of advice in avoiding burnout or feeling overwhelmed. Investing time in yourself helps you realize the value of setting realistic boundaries and expectations. The discipline helps you maintain control of your feelings and emotions in a positive, constructive way. When you set boundaries politely, people understand and respect that, and you’ll start to breathe again.

You will be able to set up processes and timetables that work for you, your colleagues and clients. Documenting and executing systems and processes for activities goes a long way in making things easier and faster to do. There’s greater simplicity, clarity, efficiency and control, which relieves a lot of undue stress and anxiety.

Ok. Thank you for all of that. Let’s now move to the core focus of our interview. As a “finance insider,” you know much more about the finance industry than most consumers. If your loved one wanted to hire a financial advisor (not you :-)), which 5 things would you advise them to find out about before committing? Can you give an example or story for each?

1. Is the advisor a good listener? Thoughtful financial advisors ask questions about the lifestyle you want and your financial goals for the future. Be sure to explain your expectations of a financial advisor. As a prospective client, you should be doing most of the talking, while the advisor listens intently. Also, ask the advisor about their background; how they got started in the financial services industry. You’ll sense whether they are a good fit for you.
2. Does the advisor’s communication style meet your needs? Will the advisor provide regularly scheduled meetings for planning and updates? Are they available to answer your questions or those of your family when needed? I’ve found that the relationships with clients and their families run deep. Often very important family events are discussed with me regularly as a trusted advisor.
3. Does the advisor offer a diverse portfolio of products and services? The advisor should provide a diverse, robust range of products and services to meet your specific needs now and in the future for long-range wealth planning. We recommend that finances are organized into three key strategies:*
4. Liquidity — designed to provide a steady income stream for general living expenses, homes, and taxes
5. Longevity — includes assets for long-term needs, including retirement and healthcare
6. Legacy — for needs beyond your own, including family and philanthropic endeavors
7. Does the advisor show care and compassion for you? Again, wealth management is about building relationships ― understanding, identifying, and responding to the needs of clients reliably, proactively, and effectively throughout their lifetime. Be sure to have an open-door service model so that your objectives are met when needed.
8. Does the advisor provide clarity, honesty, and integrity in explaining financial choices? Financial education is of paramount importance for everyone. Be sure that your advisor explains financial options and questions in terms you can understand, especially if it involves complex financials. I’ve found that a happy client is an educated client. Honest answers within a context that’s relevant to the client, without industry jargon and buzz words, lead to trust. The purpose is to keep the conversations and options simple and easily understood, otherwise, people may be confused and make no decisions for fear of making the wrong decisions.

That’s especially important for couples. Both spouses need to be at the table, equally educated about their financial landscape, and both actively involved in the decision-making for their financial future. As people live longer, we need to be prepared to live securely into our 90s, whether as a couple or singly.

I think most people think that financial advisors are for very wealthy people. This is likely not actually true. Can you explain who would most benefit from hiring a financial advisor and why? Can you give an example?

Anyone with a goal that is related to money and investments can benefit from an experienced financial advisor. And the younger you start, the better. Recently, I was speaking with a man in his early 20s who has very clear goals: 1) buying a home within the next 10 years, and 2) saving and investing for a comfortable lifestyle and retirement. The goal now is to start saving as much as possible. He has already saved $20,000 toward his goal.

The philosophy is reminiscent of Stephen Covey’s message in 7 Habits of Highly Effective People ― Begin with the end in mind.

To paraphrase the message: 1) identify what you want, 2) create the path to the goal, and 3) work each day to get there. And that means understanding that you don’t know what you don’t know. That’s where a financial advisor can help you identify opportunities that can leverage wealth, tax efficiencies, and retirement benefits based on your advisor’s industry experience and resources. Investing for long-term security goes beyond online transactions; trusted relationships play a vital role.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

After moving from Jacksonville, Florida, to Orlando at the start of my career, I was hired as an assistant to UBS Chairman Council Advisor, Judy Biddle. She was a former teacher, very astute, and a go-getter. She enthusiastically believed in advancing her team’s education and skills. She was adamant about her team obtaining as many financial certifications and designations as possible. She was a master at client service, learning as much as possible and advancing knowledge in the best interests of our clients. She was ahead of her time in spearheading the products and services most needed to better serve our clients. She was tough, strong, and always fair and nice ― a remarkable and admirable combination. I appreciated her leadership and team-building skills. She always asked for input in an inclusive way that empowered us, instilling confidence and trust. I’m sure she did it intentionally, but I may not have realized it at the time. It was my first experience with an all-female team, which proved to be a very open, supportive learning experience that benefited all of us.

At UBS, you couldn’t ask for a more inclusive group. We are moving in the right direction to expand opportunities for women in wealth management. Between internships, sponsorships, mentorships, and educational programs, we are proactively attracting talent and advancing opportunities at all levels of the firm. I believe in supporting and guiding new team members from the outset, walking them through the door, introducing them to the team, and bringing them to the table from day one so they feel inspired and empowered to learn and contribute.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

I am a proponent of financial and personal empowerment for women, beginning at a very early age. UBS’s Own Your Worth Report identifies the need for women to take greater control of their financial future. The research shows that eight out of ten women will be solely responsible for their financial well-being due to divorce, the death of a spouse, and longevity.

That’s why women need to take their seats at the financial table, for both personal and financial security and well-being. As a financial advisor to many men, women, and families, I believe taking control of household finances and owning it is a personal responsibility. Deferring financial planning and decision-making only causes anxiety. And if you don’t have a table to join, then build your own table. You have the power. You can do it.

How can our readers follow you on social media?

https://www.linkedin.com/in/ashleylaubach/

Thank you so much for joining us. This was very inspirational.