Influential Woman · Finance
Michelle DiBenedetto
Financial sales (401(k) wholesaler), Private Company
Brick, NJ
Her Story
About Michelle
My journey in finance started when I was a child. My dad was watching the news and tried to explain the stock market to me. He said something about how your money can make money for you, and I just didn't understand it. That concept stuck with me, and as I got older, I got interested in the market and followed all things finance-related. I majored in finance in college, though right out of college I didn't start in finance. I did a couple things that were sales-related in other industries I love, like travel and real estate. But eventually it brought me to finance, and ever since I discovered it and got into the industry, it stuck. I've been working in finance for over a decade now, probably 10 or 11 years, and I've been with three different companies. I work as a 401K wholesaler in business-to-business financial sales, selling retirement plans to businesses. There are technically four different types of employer-sponsored plans that an employer can choose to provide to their employees, and I can sell all of them because I'm fully licensed with my Series 7 and Series 63. For a brief part of my career, I was an advisor with Fidelity, so I technically wear that hat, but as a wholesaler I'm not allowed to give financial advice. I act more in a plan provider capacity as a liaison. I'm regulated by FINRA, which is the regulatory agency for licensed individuals in the financial realm. My licenses require me to have certain knowledge of different aspects of the industry, but they also hold me to a standard where I have to act in a fiduciary capacity, meaning to put the client first in whatever is best for them. When I'm having a conversation with a client about which retirement plan option they want to move forward with, it has to be in their best interest. Everyone has a different goal, risk tolerance, financial status, age, and expected retirement timeline, so all these things are taken into consideration.
Her Interview
Ten minutes with Michelle
01What do you attribute your success to?
I would say I have two answers to that. My parents - I have to give them a lot of credit. They have always held me to a high standard, and they've always told me that I can do whatever I want. And I know that sounds so cliche, but it really is true. And I believe them, and I have believed that myself. I look at how many people there are in the world, and how much opportunity there is, and although it's not always easy, if you persevere and you tell yourself you could do it, and you just wake up and do it every day, you have to believe it, and then it will just happen. So I would say, my parents, but then believing what they say, and just doing it every day, not giving up, accepting sometimes that you are gonna hit some walls, and you might fail, but you're gonna survive, so just keep going.
02What advice would you give to young women entering your industry?
I would give so much advice. Statistically speaking, there are not a lot of women in finance, and we're doing a much better job, but I would say have perseverance, and stick with it. It's challenging, but in a really great, rewarding way. And know that you can get so much out of it, and take your knowledge in the industry and share it with people that you know, because they don't teach a lot of this stuff in school, growing up. General knowledge of finance is really, I think, something that we lack as a nation to just provide education for. So I would also just tell women that are getting in the industry, like, help your friends and family. Talk about everything you learn and everything you continue to learn in this industry, because it's something that's so prevalent and so needed, and it really does help. And I could go on and on and talk about the reasons why, but that's kind of the advice that I would give if someone were thinking to go into this.
03What values are most important to you in your work and personal life?
The term moral compass comes to mind. I hold myself to a really high standard of just really morals in general. I try to act in the best way that I can, not just for clients, but in my personal life, too. I consciously am aware of everything I do, say, how it's going to impact the people around me, so I would say having a really high standard of moral compass is something I really value, and hold myself accountable for. I think karma is good and bad, and that's a really big reason why I just try to be the best human I can be, even when it's challenging sometimes. But I think it is, I think it means a lot, and it is rewarding, so it's a win-win.
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