Masters in Business Wealth Management and the 'Great Normalization' with Lisa Shalett
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Apr 3, 2025 Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, shares her extensive knowledge in asset management, having held leadership roles at major firms. She discusses the challenges of adapting to the 'Great Normalization' in markets, emphasizing the psychological barriers investors face during downturns. Shalett highlights the role of technology in enhancing client services and the exciting potential of generative AI in investment strategies. With a journey spanning significant mergers, she reflects on the future of wealth management and the importance of personalized financial planning.
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Unexpected Wall Street Career
- Lisa Shalett initially had no interest in Wall Street, preferring radio and consulting.
- She joined Sanford Bernstein after realizing those careers didn't offer financial stability, and felt immediately at home.
Crisis and Departure
- Lisa Shalett left AllianceBernstein after the financial crisis due to the emotional toll of firing colleagues.
- She joined Merrill Lynch, recruited by Sally Krawcheck, only to see Krawcheck fired shortly after.
Open Architecture at Merrill Lynch
- Merrill Lynch's open architecture platform provided Shalett with valuable experience in diverse investment strategies.
- This exposure broadened her understanding of asset allocation, advice, and alternative investments.
