Today we’d like to introduce you to Sarah Cuddy.
Hi Sarah, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start, maybe you can share some of your backstories with our readers.
I’m a first-generation native Houstonian, and I love being from here. Houston is a great combination of affordable cost of living, culture, and cuisine. If you want it, you can probably find is here.
In terms of how I got to where I am, I didn’t start in finance until 2010. Before that, I was what you would call a “starving artist” trying to make it as a professional opera singer. It was a great time in my life, but I’m so happy I went back to school in 2008 to get my Master of Business Administration from UT.
Graduating from business school in 2010 found me making a total career change and looking for my first opportunity. In the wake of the Great Financial Crisis of 2008 there were lots of newly minted MBAs and not that many firms hiring those MBAs. But I found an opening as a trainee Financial Advisor, and that’s how I came to be in finance.
The first few years of building my practice were difficult, but things really changed for me when I moved to Baird in 2015. Baird was where I found the resources, support, and strong culture that I needed to be successful. I’ve had the chance to build a practice where I can do the kind of work I really care about and serve people that I really enjoy serving.
Being a Financial Advisor, helping people with their investments and their financial plans, and getting them on the path to a secure future really lights me up. It’s great work, and I’m lucky that I get to do it.
We all face challenges, but looking back, would you describe it as a relatively smooth road?
The path here has been anything but smooth. Giving up on singing was a really hard decision. Then I had to get into business school, which is not easy when you have a fine arts background. Then, of course, being successful in a master’s program like UT’s came with its own challenges.
I’ve also built my practice as a solo practitioner, which is becoming less and less common. Most young Financial Advisors come into the industry as junior team members. Building a practice from scratch by yourself, when you don’t know anyone with money, isn’t something I would recommend to the faint of heart. Those first five years were some of the hardest and most stressful of my life.
But engaging in the struggle allowed me to build a practice that fits me and my clients perfectly. It’s hard to put a price on the privilege of building your work around yourself.
Thanks – so, what else should our readers know about your Wealth Management practice at Baird?
My practice is planning-centric. I ask that each Wealth Management client I work with engage in the Financial Planning process and that we always have an up-to-date Financial Plan in place. I strongly believe that the best advice and guidance is given from a place of deep understanding. There’s no better way for me to understand someone that to have developed a thorough and thoughtful Financial Plan. When clients ask me a question, I often refer back to their Financial Plan when answering.
So, the ideal client for me is someone who needs and values Financial Planning alongside Investment Management. I believe so strongly in the value of Financial Planning that I’ve built a practice that makes those services available to the widest swath of people possible.
I’m really proud of all of the plans I’ve done over the years and all the goals I’ve helped people achieve. I get to make a real, positive impact that can be seen and felt. Not many people get to say that about their work.
We’d love to hear about how you think about risk taking?
Every investor knows that if you don’t take risk, you can’t reap the rewards. For me, risk is a necessary part of life. But to take risks effectively, you have to understand your own tolerance for risk, the magnitude of the risk you are taking, and the potential reward.
Maybe the biggest risk I’ve taken professionally was moving my practice to Baird. When you move from one firm to another you risk clients not following you, which can seriously damage a young practice. I took months considering what could go wrong, what could go right, and what was most likely to happen.
Ultimately, taking the risk and making the move was the right thing to do. But the first few months after the move were challenging, and I didn’t really know if my gamble was going to pay off until nearly a year later. Part of taking risks effectively is being patient while those risks play out.
Contact Info:
- Website: SarahCuddy.com
- Facebook: https://www.facebook.com/SarahFromBaird
- Linkedin: https://www.linkedin.com/in/sarahcuddy/
Image Credits
Jacqueline Mask
