# Empowering Women in Finance: Insights from Megan Gorman of Chequers Financial Management
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Chapter 1: Megan Gorman's Journey in Finance
In her five years of leading Chequers Financial Management, Megan Gorman has successfully built a team characterized by diversity and intelligence. This achievement demonstrates that fostering such an environment is not only possible but essential.
Megan Gorman is the founder and managing partner of Chequers Financial Management, a female-led firm specializing in high-net-worth tax and financial planning based in San Francisco. Her clients range from entrepreneurs to corporate executives and families with inherited wealth. With a background in law, she thrives on the problem-solving aspects of complex financial planning.
In addition to her role at Chequers, Gorman contributes to Forbes, covering topics related to personal finance and income tax. She is frequently cited in major financial publications, including the Wall Street Journal and CNBC. Her speaking engagements span various platforms, including the Schwab Impact and the Tory Burch Foundation, discussing crucial topics like taxes and estate planning. Gorman is also a regular voice on the "Money Tree Investing Podcast," where she talks about current trends in investments.
Before establishing her firm, Gorman held positions at Ayco, a Goldman Sachs subsidiary, and BNY Mellon Wealth Management. She holds a bachelor's degree in history from Bryn Mawr College and a JD from Rutgers School of Law. Currently, she serves on the Rutgers Law School Alumni Board and will be an adjunct professor at Golden Gate School of Law in the Spring of 2021.
Section 1.1: Discovering a Passion for Finance
When asked about her journey into the finance sector, Gorman reflects on her unexpected passion for tax law developed during her time in law school. Initially perceived as a mundane requirement, the subject ignited her interest due to its focus on problem-solving.
Recruited straight from law school, Gorman began her career in a firm owned by Goldman Sachs, assisting corporate executives with comprehensive financial planning. She found joy in advocating for clients and navigating the complexities of financial planning.
Section 1.2: Memorable Experiences in Financial Education
Gorman has enjoyed working closely with clients, and while confidentiality often restricts her from sharing specific stories, she recalls a unique experience presenting financial education to the San Francisco 49ers.
This opportunity allowed her to draw parallels between NFL players and the corporate executives she typically serves. Unlike many CEOs who have longer careers, NFL players must quickly learn to manage significant incomes for a potentially short career span.
After her presentation, a well-known 49er approached her for an in-depth discussion about municipal bond ladders and portfolio principal protection, highlighting the contrast between his public persona and private interests.
Chapter 2: Future Endeavors and Impact
Gorman is enthusiastic about her upcoming projects this fall, including a new radio podcast series on Voice America. The show will feature a variety of guests from industries such as cannabis, AI, wine, and Broadway, all discussing their unique relationships with wealth.
As a senior contributor to Forbes, she continues to share her expertise in personal finance while also joining the advisory board of Swaay Media, Inc. This platform aims to amplify women's voices across various topics relevant to their experiences.
Chapter 3: The Importance of Diversity in Finance
Gorman believes her firm's commitment to exceptional client service sets it apart. Contrary to common misconceptions, high-net-worth individuals face financial challenges similar to those experienced by others. However, discussing these issues can be particularly difficult for them.
She emphasizes the need for finance to evolve beyond being perceived as an "all-white boys club." Although some progress has been made, Gorman highlights the importance of prioritizing diversity within the industry.
She encourages women to actively seek mentorship and take calculated risks in their careers, reflecting on her own experience of wishing she had launched her firm sooner.
Section 3.1: Strategies for Supporting Women in Finance
Gorman suggests three actionable strategies to promote diversity in finance:
- Challenge Hiring Norms: Encourage hiring managers to consider candidates who differ from their own backgrounds.
- Embrace Risk: Women should not hesitate to take risks in their careers, moving forward even before they feel completely ready.
- Inclusive Decision-Making: Ensure that women and minorities have a seat at the table when decisions are made, as diverse perspectives are crucial for informed choices.
Chapter 4: Financial Literacy for Young Adults
Although Gorman does not have children, she frequently shares valuable advice with young adults. Her top recommendation is to gain work experience during their teenage years.
Working in environments like restaurants can teach essential financial skills and money management better than traditional internships.
Section 4.1: The Value of Mentorship
Reflecting on her career, Gorman acknowledges the significant influence of her mentors, particularly one who recently passed away. His guidance shaped her vision for her firm and emphasized the importance of enjoying client interactions.
Section 4.2: Life Lessons and Inspirations
Megan Gorman's favorite life lesson quote comes from Nora Ephron: "Above all, be the heroine of your life, not the victim." This philosophy has guided her career, encouraging her to take control of her path and pursue her interests.
Finally, Gorman expresses her desire to inspire others to embrace risk and pursue their dreams fearlessly, sharing how her own journey has led to unexpected rewards and satisfaction in her career.