Robert Schein was born to be a financial adviser.
The son of Croatian immigrants, he was dealing baseball cards at 12. He started in the financial industry a few years later by cold-calling leads for his brother, a broker in training at Merrill Lynch.
"My brother had an internship at Merrill in the '90s, and I piggybacked from there," Mr. Schein said. "I was working for advisers for free. My brother and I sat next to each other, and we would set up appointments for institutional money manager dinners. I had three jobs in college, including working for Merrill."
That turned into a job as a registered rep and adviser with Morgan Stanley, which he left in 2011 to join HighTower Advisors and HighTower Securities, where he is a partner and managing director. His team manages $550 million.
Mr. Schein's work as an adviser is based in his roots. His father invested in real estate, and Mr. Schein and his brother worked in investment management. "Our kitchen table conversation was arguing about investing in real estate versus the stock market," he said.
When his father died from cancer four years ago, Mr. Schein realized he could make an impact helping female clients like his mother.
"Mom never controlled the finances," he said. His brainchild was a leadership and community forum where women can gain the confidence to control their money and investments, called the Society of Financially Empowered Women, or FEW.
"Nine out of 10 women are solely responsible for their finances at the end of their lives," Mr. Schein said. "Everyone knows this, but no one is catering to this demographic."
— Bruce Kelly
Founder and CEO, Hearsay Social