By Emily Brown-Baker, Student in the M.P.S. in Wealth Management Program, School of Professional Studies
When my grandfather died in March 2020, my grandmother, Nana, was in her 80s and suddenly making big decisions alone. One of them surprised us all: She started investing.
Her new advisor worked at her longtime bank. He made an exception to the usual account minimums because he saw her potential. With his guidance, she has achieved true financial independence. For my family, it created peace of mind about her elder care. For me, it sparked a realization.
The moment that sealed it wasn’t a portfolio report or a balance sheet. Nana has historically been risk and investment averse, preferring to put spare cash in simple savings accounts if it wasn’t poured directly back into their manufacturing business. Curious, I asked, “What makes you trust him?” It wasn’t his credentials or brand. She said they had bonded over their relationships with their adult sons. That very human connection, their aligned values about family and what matters most, that’s what convinced her. Witnessing that connection also convinced me that I have what it takes to do what Nana’s advisor did so well: learn something complex, apply it carefully, and serve real people with empathy.
Now, as a student in Columbia’s M.P.S. in Wealth Management program, I can place her experience in a larger context. In the course, The Wealth Management Landscape, lecturer Bill Woodson pushes us to see the industry from a bird’s eye view through the various business verticals, client segments, and compensation models in the field. Through that lens, I now understand how a planning relationship can grow out of everyday banking, and how an advisor might view a long-time depositor in a life transition as a potential client, even if it means bending a minimum.
I can now also see the ethical and legal framework behind the relationship. In our course, Foundations in Wealth Management, with lecturer Dr. Michael Kothakota, we study ethics and regulations, including an advisor’s duties and the disciplinary systems that enforce them. Trust isn’t just warmth. It is predicated on certain standards of ethical behavior, including understanding goals and constraints, explaining risk in plain English, documenting recommendations, and always putting the client first.
If you think it’s too late to start, my grandmother would disagree. She began in her 80s, asked good questions, and built a plan that gives her confidence. Her courage to accept help and take control over her financial future has inspired me to learn how to do this for others by studying here at Columbia.
Views and opinions expressed here are those of the authors, and do not necessarily reflect the official position of Columbia School of Professional Studies or Columbia University.
About the Program
Columbia University’s Master of Professional Studies in Wealth Management program is a 16-month online program with asynchronous instruction specially designed to accommodate working professionals. It is taught by distinguished faculty with deep applied experience in their respective fields. Additionally, it is a CFP Board Registered Program designed to help students meet the educational requirement for CFP® certification.
The priority application deadline for the M.P.S. in Wealth Management program is January 15, with a final deadline of May 1. Learn more about the program here.
