HoyleCohen, a San Diego-based wealth management firm, announced Tuesday the launch of a new practice that focuses on women in transition such as recent divorcees and widows as well as entrepreneurial and professional women.
Led by certified financial planners Elisabeth Cullington and Janet Acheatel, Wealth by Design for Women bills itself as a practice that “changes the way financial advice is provided to high-net-worth women, especially newly independent women and business owners between the ages of 45 and 75.”
HoyleCohen recently hired Acheatel as co-leader. She brings 30 years of experience as an investment advisor to the new practice. Prior to joining the firm, she served in senior positions at Brandes Investment Partners, Nicholas Applegate Capital Management and Lexington Capital Management.
Wealth by Design for Women is designed to first understand a client’s attitude about money and her priorities. Personal finance and next generation preparation are included in the firm’s service model to build financial literacy and confidence, according to a HoyleCohen press release.
“Women’s societal influence and wealth are on a one-way track leading upward,” said Mark Delfino, HoyleCohen managing director, in a statement. “Studies have shown that in the next decade, women will control two-thirds of consumer wealth. Despite this, the market has been slow to give them the support and services they need to manage their wealth and life goals.”
Cullington added that her firm’s experience has shown that female clients are increasingly dissatisfied with the traditional approaches that ignore their specific goals.
“In contrast, our practice group provides a more collaborative and information-rich environment to help women leverage their financial independence toward their own priorities,” she said.