By Jill Nagy
Under the banner “Wealthcare for Women,”
Yvette Scanlon is parlaying her 25 years
of experience in banking and financial advising
into Scanlon Financial Services with
offices in Malta and Bolton Landing.
She started her own firm last June. She
revels in being able to “make my own decisions
and do what I want for my clients,”
free of the sales quotas and “product of the
month” pressures of her previous positions.
She works with a small brokerage firm,
Aurora Capital, in New York City, and Page
One Financial, an asset management firm
located in Malta.
Currently, Scanlon has about 45 clients, “a nice manageable number,” a big change from the 2,500 “nominal clients” she had as a financial advisor at HSBC bank. Some of those clients went with her when HSBC ceased operating in Upstate New York. Others joined through word of mouth, she said.
Scanlon specializes in advising newly divorced or widowed women. “I have learned from the financial mistakes my mother made after her divorce and that I made after my divorce,” she said. Many women in those positions are not used to partaking in financial decisions, she said.
Her main advice to them is not to allow emotions to get in the way of making sound financial decisions. She advises: step back; try to remain calm; educate yourself; and “don’t make any rash judgments.”
She gives clients an “easy” book to read and offers additional educational materials on her webpage, www.scanlonfinancialservices.com. She notes on her webpage that, “major life changes can be devastating financially, especially for women. My goal is to empower women with information and be a partner in helping set and achieve their financial goals, through whatever situations life give us.”
Scanlon offers fee-based advising and management services but also sells products, including long-term care, disability, and other types of insurance.
When her company manages an account, she said, she offers “constant daily oversight.”
Much of the actual oversight is performed by Page One Financial. Scanlon rents office space from that company and doesn’t hesitate to “pick their brains.” She said that she chose Page One because of the company’s “incredible” performance during the recent financial downturns, Scanlon said.
The company saw the downturns coming, she noted, “and was able to move clients into cash and then back into the market again when things improved.”
In addition to her office in Malta, Scanlon sees clients in her home office in Bolton Landing. She has lived in Bolton Landing for 19 years. During most of that time, she worked in Saratoga Springs. She grew up in Colonie. She attended Siena College and took courses in accounting and various aspects of banking with the American Institute of Banking.
At HSBC, she gained experience in different banking operations, including time as a branch manager, before moving into the bank’s investment affiliate. She also worked for a while for a major brokerage firm.
Scanlon is a licensed financial advisor and holds a supervisory license as well, but for now does not have plans to add employees.
The offices of Scanlon Financial Services are located at 2537 Route 9, Suite 205, in Malta and at 1003 County Route 11 in Bolton Landing. The telephone number is 1-888-551-2133.
Photo Courtesy Of Scanlon Financial Services