“I've been in the business for 20 years. Half of my career has already been spent, unintentionally, doing things to be successful,” Michelle says. “For this next phase, I want it to be more about what I do best and where I find the most value in what I do.”
Growing up on a farm equipped Lanta Evans-Motte with the thoughtful discipline that would shape her work ethic and business mentality. This foundation, coupled with her academic pursuits – an undergraduate degree in accounting followed by an MBA – eventually steered her toward a corporate career and, later, to financial services.
And, after much reflection, she’s decided it’s going to be helping founders and business owners, especially women and minorities, navigate investment banking opportunities and managing families with generational wealth.
It’s what excites her, fulfills her and makes her feel like she’s giving back.
Most importantly, it’s intentional.
The first half
Michelle’s initial focus in the industry was born out of coincidence, an opportunity she seized, which became a lucrative niche. She spent the first part of her career helping professional athletes with their finances.
“I was young at the time. I was trying to figure out my way. One thing I always do is take an opportunity, even if it looks bleak. I’m available. I’ll take it because you never know where it will take you,” she says.
That’s exactly how she landed in the professional athlete arena. She helped a man fumbling with mortgage paperwork at the airport, who introduced her to a friend—a professional athlete.
That man entrusted her with managing his wealth and word of mouth traveled – until she was doing financial literacy presentations for the entire team. (Fun fact: Michelle even has a championship ring from the team; she was such an integral part of the players’ lives that they wanted to share this moment with her.)
By working with these men, she honed her skills of building genuine relationships and often felt more like a therapist than a financial advisor. She learned to listen, applied her problem-solving skills and helped them through life’s unique challenges.
“We talk about life, their children, their family and even their fears about money. We discuss what it feels like to not be able to help family or feeling used by friends because of their wealth,” Michelle says. “With their male advisors, they felt like they had to put on a strong front; they wouldn’t be as open about their mental or emotional struggles. Being a woman was an advantage because they would be a little more vulnerable with me.”
Being the first person in her family who’s had a successful professional career, Michelle knows firsthand how it feels to be relied on financially. She’s often the first phone call when someone in her family needs financial support and understands it can be draining and heavy at times.
The second half
While Michelle still serves this existing client base, she’s more selective about the professional athletes she takes on. This next part of her journey is going to encompass what those athletes strive to achieve – leaving a legacy – but she will specialize in clients with generational wealth.
“I’m not a transactional person. I want clients who are willing to create a relationship with me for the long term,” she says. And this means nurturing a relationship that will last for generations.
The US Bureau of Labor Statistics reports that only 31% of financial advisors are female. With the “Feminization of Wealth” on the rise—where the percentage of women controlling the world’s wealth is expected to outpace the growth of global wealth—this presents a unique challenge. Women investors, who often prefer to work with female advisors, are finding it difficult to find the right match. A recent study revealed that 54% of women investors want at least one woman on their advisory team.
Source: forbes.com; newyorklifeinvestments.com; advisorhub.com
The Great Wealth Transfer
An estimated $84 trillion is expected to pass from the baby boomers and silent generation to millennials and gen X over the next two decades. If managed smartly, this wealth can significantly impact how these generations will thrive.
Source: bankrate.com
“With the transition of wealth, and the amount of money going to millennials and women, they’re not talking analytics. They’re talking values and what this wealth means for them as individuals,” Michelle says.
For her, money is about freedom and independence. Something she didn’t have the luxury to enjoy growing up. Michelle works hard to help ensure that her two daughters will have the freedom to have their dream career and independence to pursue their passions.
She’s already coaching women on managing wealth transfers that come from their husbands, parents or grandparents. Michelle often hosts women’s founders’ events and gets invited to speak about the founders’ journey. She recently held a seminar for women about mental wellness, which included tips for managing future wealth transfers. And she regularly gets invited to events like the Asian American and Pacific Islander (AAPI) women’s dinner where she shares inspiring words and helpful practices.
“One thing I always do is take an opportunity, even if it looks bleak. I’m available. I’ll take it because you never know where it will take you.”
Reflecting on the first phase of her career, Michelle realized her keen ability to see the big picture. She unintentionally landed a couple large investment banking deals and felt passionate about working with these clients. Pursuing this route also allows her to focus on managing wealth for families with generational wealth—a win-win.
“I will be intentional in landing these investment banking deals, and I want to work with women and minorities. I plan to create a free flow of information for women and minorities who lack proper representation in these situations,” Michelle says. “Many feel lost in looking for the next steps for their business. So, I want to be that conduit.”
New focus, new feel
Narrowing her focus means a shift in marketing and branding. Michelle is going all in and wants to make sure her new intention is apparent.
Her tagline has changed from “life in bloom,” which meant Michelle was open to serving anyone at any phase of their life, to “harmony and opportunity,” reflecting her two new specializations.
Michelle chose “harmony” to reflect intergenerational wealth because she wants to help families navigate wealth transfers harmoniously and help new recipients find their own harmony with the wealth. The word “opportunity” comes to mind when marketing to founders and business owners, reflecting her focus on investment banking clients.
Michelle explains, “What I bring to the table is the ability to address opportunities in as harmonious a way as possible.”
After all, she’s done the same.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
This piece was featured in Aspire Magazine, a biannual publication from the Women Financial Advisors Network. View the latest.
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