Women in the Workplace: Chart Your Course, but Listen to the Wind

In this week’s Women in the Workplace spotlight, we interviewed Jill Jokelson, Vice President at Mill Creek Capital Advisors. Jill joined the firm in 2018, and in her role, she advises clients on investments, financial planning, and comprehensive wealth and estate planning.?Jill graduated from the University of Pennsylvania with a BA in economics and The Wharton School with an MBA with concentrations in finance and strategic management. In her interview, she discusses the importance of goal setting and how she successfully tailored her career into one she loves as a financial advisor.?

1.??????When you started your career, you were hired to consult major financial institutions undergoing mergers and acquisitions. What did you learn about yourself during this experience? How did it enable you to map out your next steps in your career?

I started my career in consulting because I didn’t know exactly what I wanted to focus on as an economics major out of college.?Consulting, and its general focus on short-term projects, was a great way for me to have broad exposure to business in various industries in a short time frame. ?And I did!?In four years, I spent time consulting with governmental departments, retail clients, and banks – observing, learning and absorbing all that I could. ?I learned about the impact of technology in the workplace; how organizations are structured, and the effect of that structure on decision-making, work product and efficiency; how marketing affects the consumer; and how all those things end up translating to the balance sheet.?

While I hadn’t been ready to commit to a specific industry immediately out of college, as I got deeper into my consulting practice, my analytical skills were sharpening, and my interest was narrowing to finance.?I really enjoyed the projects in financial services and began connecting with mentors and colleagues in the firm who focused on that industry.?I requested projects in that sector and was flexible with the cities and clients that I would work with to gain more concentrated experience. In my last two years as a consultant, my focus in the financial services industry during a time of consolidation in the retail banking space was fun, fast-paced, and played to my strengths of agility with numbers and analysis.?And, it made me realize that I ultimately wanted to direct my career to finance.

2.??????Discuss how you created a plan to achieve your career goals when you learned your true passion was for finance.

?Setting goals and creating a plan is imperative to shaping your future. ?At the same time, I have learned that the future may not exactly be what was originally planned, and sometimes unexpected and welcome new opportunities present themselves.?Once I determined my interest in finance, I returned to Wharton to earn my MBA, concentrated in finance and strategic management, and then applied for jobs in investment banking.?Each of those decisions resulted from experimenting, talking, researching, and planning for the next step.?

As an investment banker, I worked in mergers and acquisitions and loved the fast-paced, finance-focused world of investment banking.?I worked with business owners who were selling their businesses and created discounted cash flow analyses, calculated EBITDA, created projections, reviewed historical financials, and wrote comprehensive descriptive memoranda about the businesses.?I loved being a part of the sale process, the deep analytical finance, and learning the inner workings of various businesses. However, there came a point when my goals changed for a time.?I decided to step out of the workforce to concentrate on my family for several years.?When I decided to go back to work, I really needed a plan to get back into the workforce.?At that time (and probably still today), it was hard to convince employers that you were dedicated and ready to work full time after raising kids.?I went to many coffees and lunches with friends and former colleagues to talk about options and ideas for how to re-enter the workforce, and in what field and capacity.?I still loved finance but wanted to find a field that was not as driven by deal-closing timelines.?Through my conversations, I explored wealth management and found an onboarding program at Goldman Sachs.?I participated in the “Returnship” program at Goldman in Wealth Advisory and was hired full-time upon completion, thus beginning my journey as an investment advisor.

What I have loved most about being an investment advisor, first at Goldman and now at Mill Creek for the past four years, is the intersection of finance and relationships.?Working with individuals and families, learning about their objectives and aspirations for their wealth over time, and then matching that with an investment program to meet their needs is very rewarding.?You get to be a little part of their family, learn about what is important to them and help them achieve their long-term aspirations. I love being an advisor for families and overseeing their holistic wealth picture.?This includes investments, of course, but also helping them meet their philanthropic goals, being thoughtful about tax planning, being strategic about estate planning and teaching new generations about their responsibilities in stewarding the family wealth.?I love working with kids and grandkids and teaching them about the markets.?And one of my favorite experiences is working with families who have a big liquidity event and helping them work through the trust and estate picture, and how the money will flow to future generations.

?3.??????When you talk about goal setting, how did you hold yourself accountable? What were some of the barriers that you faced along the way?

What I have realized over time is that goals may shift, evolve or change, but you should always be working to grow, learning new skills, asking lots of questions, and continuing to expand your knowledge base.?The critical thing to consider is when to adjust your goals.?This shouldn’t happen often – and it shouldn’t happen because you hit an obstacle – but instead should shift upon changing circumstances or priorities.?When the goal changes, it is important to take a breath, create a new plan and map out steps to move forward before jumping in.?Be sure to consider all the options and think about what you need to succeed.

As with anything, what you get out is a direct result of what you put in – nothing takes the place of hard work.?I tend to be pretty determined once I set a goal, and while things don’t always go my way, it is important to learn from mistakes and have the resilience to pick yourself up, dust yourself off and go back to it.?These are times when reminding yourself of your goal, reflecting on your priorities, and revisiting your plan is key.

4.??????What is the advice you would give your younger self? Or advice you’d give to women who are trying to make career changes?

I have four main pieces of advice that apply to all people looking to build a career or restart one. ?

?First, be inquisitive.?Have conversations, ask questions, find out about what other people do in their careers, what they have seen, what they have learned.?There is so much we learn in school, but so much more we can learn from one another.?

Second, it is ok to ask for help and speak up for yourself.?People really want to help others, and it is not a sign of weakness to ask for some help – for introductions, thoughts, experience.?Just be sure to be appreciative and considerate of people’s time.?And, it is ok to ask for what you want.?People won’t know unless you tell them! ?

?Third, don’t forget that skills transfer. The ability to research, think, analyze, work in teams, connect with people – these are all skills that we refine over time and can be applied in different ways in different roles.?Even if you have not done a particular role in the past, you likely have the skills needed to figure it out and get the job done.?Build on that base and soar with your strengths!?

Lastly, set goals and create a plan, but don’t set it in stone – leave room for shifts and flexibility.?Inevitably things will change over time and may require an evolution of goals, or a plan may change.?Always look at change as an opportunity and try to adjust to make the best use of a changing environment. The ultimate goal is to enjoy what you do and find happiness and satisfaction in your career.?It may take a somewhat circuitous route and may not be investment advisory for everyone, but by being curious, asking for help, having faith in your skills, and continuing to plan and grow, I hope everyone can find a career that makes them happy and fulfilled.

This publication has been prepared by Mill Creek Capital Advisors, LLC (“MCCA”).?The publication is provided for information purposes only.?The information contained in this publication has been obtained from sources that MCCA believes to be reliable, but MCCA does not represent or warrant that it is accurate or complete.?The views in this publication are those of MCCA and are subject to change, and MCCA has no obligation to update its opinions or the information in this publication.?While MCCA has obtained information believed to be reliable, MCCA, nor any of their respective officers, partners, or employees accepts any liability whatsoever for any direct or consequential loss arising from any use of this publication or its contents.

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