The Alimond Show
Welcome to The Alimond Show --join us as we share our entrepreneurial guests' stories, uncover their secrets to success, and explore the unique paths they've taken to build thriving businesses in our community.
In each episode, our host, Aliyah Dastour, sits down with a diverse group of local business owners, from the corner cafe to the boutique shop, from tech startups to family-run enterprises. We peel back the curtain to reveal the trials, triumphs, and transformational moments that have shaped their entrepreneurial journey.
Discover the passion, perseverance, and innovative thinking that fuels these businesses, as well as the challenges they've overcome along the way. Whether you're a budding entrepreneur seeking inspiration or simply a curious listener interested in the stories behind your favorite local spots, The Alimond Show has something for everyone.
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Join us every week as we celebrate the unsung heroes of our local business community and explore the vibrant tapestry of entrepreneurship in our area. Tune in to The Alimond Show and get ready to be inspired, informed, and motivated to support and nurture the businesses that make our community thrive.
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The Alimond Show
Yasmine Bonilla, Independent Financial Advisor - From Groundbreaking Latina at Smith Barney to Industry Trailblazer: Mastering Client Relationships, Navigating Market Challenges, and Championing Diversity in Finance
Discover the secrets behind successful financial advising with our guest, Yasmine Bonilla, a trailblazing independent financial advisor with over two decades of experience at Raymond James. Learn how Yasmine's career journey began with a groundbreaking role as one of the first female Latinas at Smith Barney in 2000. She shares her unique insights on the evolving landscape of finance, including the impact of technology and AI, while underscoring the timeless value of building personal relationships with clients. Gain valuable advice for aspiring advisors on fostering trust, adeptly navigating market challenges, and understanding the nuances of client goals and risk tolerance. Yasmine also opens up about her early investment wins, like Apple, stressing the importance of asking the right questions and taking calculated risks.
Master the key qualities needed to thrive as a financial advisor, especially in high-wealth environments. Yasmine emphasizes the importance of staying grounded, listening attentively, and responsibly managing client wealth to achieve growth and protection. The discussion highlights essential traits like persistence and determination, encouraging listeners to persevere through industry barriers. As we wrap up, we celebrate the growing diversity and inclusion in finance, appreciating the increasing representation of women and Latinas in the industry. Whether you're a seasoned veteran or just starting out, this episode offers a wealth of inspiration and insight to propel you forward in the dynamic world of finance.
Jasmine Bonilla. I am with Raymond James as an independent financial advisor.
Speaker 2:Hang on, we're going to stop. Just don't ever look at the camera. Don't look at the camera Always. Just look at me.
Speaker 1:I do oh really yeah, okay, so start again. Jasmine Bonilla, with Raymond James as an independent advisor. For the last 23 years I've been helping my client business owners, helping them with managing their finances and investments.
Speaker 2:And how'd you get started?
Speaker 1:So I got started in 2000. I was hired by Smith Barney. Back then. I was one of the first females Latinas that they ever hired and I've been doing it since then. I really felt that the industry needed more females in the business and I will never forget that when clients would come and meet with the local financial advisors, they really needed somebody to get you know the personal questions about their finances and I felt the female touch was needed back then and even more now. What did you do before that? So I was going to college, to GW, I got my finance degree from there and also I was working. You know somebody that was doing both going to school and also working as a part-time. I was a waitress my first job and, yeah, I enjoyed doing both.
Speaker 2:So you're good with money and you're good with people.
Speaker 1:I love those two things yes.
Speaker 2:Where do you see the industry headed towards in the future?
Speaker 1:You know it's an interesting question you ask. I feel that the industry is changing because of technology, because of AI is coming into play. I feel that, more than ever, there's a lot of information that is available to the traditional investor and to our clients and being able to help them navigate the technology challenges and how we can make money for them. You know that you still need that personal touch. I feel is going to be important. I don't know how the industry is going to take it, but I feel that every investor still needs that personal touch, even if technology is taking us in a different direction.
Speaker 2:Yeah, no, that's true. I think technology is changing every industry. Right it is. What advice would you give to somebody who's stepping into your career?
Speaker 1:I would say you know dealing with finances, dealing with asking people to trust you because I'm in the business of trust and being able to navigate challenging markets, I feel it's needed. It really is. So if you're interested in joining the Korea, I think go for it, but be prepared to dealing with those challenges, and those challenges are that you know it's not easy to stay in the business because you're meeting new clients but also sometimes you lose some clients, right. So it's always a challenge with that and everything else that we're dealing. So I recommend that, but be ready for the challenge.
Speaker 2:Did you see yourself being an advisor, like when you were younger?
Speaker 1:No, no, but I enjoy it. I enjoy helping people and you first said it you like, you know, dealing with people and you like finances and all that, and I think I'm doing what I really was meant to do and that is building trust, helping people reach, you know, a financial, successful retirement, and at a personal level, because everybody's financial situation is very personal to them and it's very unique what's your process.
Speaker 2:When somebody comes to you Like walk me through, start to.
Speaker 1:Yeah. So obviously first get to know your client. For me to be able to ever provide any advice to you, I really need to know what is important to you. What are your goals. You know what is your risk tolerance right? How much can you handle in the markets. What is your time? You know that you have your time horizons, that I can grow that money and protect it for you. So get to know the client, develop a process and an investment strategy. Then meet with that client quarterly to provide updates to see if we are keeping track on where we need to be and where we need to go. And then it's a constant, you know touch base with the client. Keep them informed and review their investments and have a good strategy with that and make sure your clients understand why they're paying you. I think is big and what is the value proposition that you're bringing to your clients is a must.
Speaker 2:What is your value proposition that you feel like you're bringing to the team.
Speaker 1:Yeah, you know a lot of people would say is how much money can just me make for me? But I don't think it's that. It really is that connection that the client has with the financial advisor, the trust that that financial advisor have earned with that client and making money. They pay me to do that and I will do that. I have done that for all my clients. I've made a lot of money for them. But it's to do that and I will do that. I have done that for all my clients. I've made a lot of money for them. But it's not just that. It's being able to have the trust, to have the performance and really getting my clients to understand why they have me, why they're keeping me around to help them, and it's a win-win once that is accomplished and I think I've done that over the last 23 years.
Speaker 1:Do you in the business is because I was able to really find a unique investment proposition for my clients back in 2000 and in 2001. And that was investing in Apple stock. I didn't know what the stock was about. I thought it was a fruit. You know a company that does groceries, and it wasn't. Back then, right, I got to learn that it was being traded by institutional accounts and I wanted to invest that for my clients. So it was asking the right questions at the right time, finding that investment opportunities for my clients and be able to take that risk with them and explain them that risk risks with them, and explain them that risk. And 23 years later, I've done extremely well.
Speaker 2:Just because of one, decision and many, many others that we did. So that's nice, and apple is not just a fruit right.
Speaker 1:It's not just a fruit. And they opened their first store in Tyson's Corner Tyson's One. So yeah, a lot of history here. I would have thought it was going to be in California, but it's here.
Speaker 2:What things do you wish your clients knew before they came and talked to you?
Speaker 1:You know that's a hard one, right? We want our clients to know more about investing and about risk tolerance and all that, but they don't. The reality is the average individual understands some of the market because there's a lot of technology out there and information that is being put for them, but they don't understand the risk-reward subject. A lot of people think that you can just make a lot of money and not take risks. So my job is to educate my clients about risk and reward, because the more risk you take right, the more reward. But also you know you got to be prepared to handle the down markets when you're taking that much risk. So understanding that is a big one, I feel.
Speaker 2:Yeah, risk, so understanding that is a big one, I feel. Yeah, when it comes to um, like some stories or some thoughts about like I know you said that you know you went to school before you started this and you did some serving positions working with people, but like as a little girl, like who were you as a little girl? Like what traits and characteristics? Because, like you said, you're like the first Latina financial advisor within your company. That's, you know you have to have a certain personality to be comfortable stepping into that.
Speaker 1:Definitely, I really believe it comes from my mother. My mother was an entrepreneur in El Salvador, central America, a very small country, a third world country, and she was a business owner there. So I always, you know, saw my mom as somebody that can make things happen and can be successful. She opens the first female woman who owned gas stations in El Salvador and buses. Buses were owned privately by individuals and my mom was one of those individuals. So I always have had her as my role model that I look up to and I think that really is in me, is in my DNA.
Speaker 2:You had to be the first to do something, right. Of course, the follow in her footsteps. Now, anything else that I didn't touch on in terms of your story or anything that you would like to share about what it takes to be a financial advisor, especially in this area where there is a lot of wealth especially in this area where there is a lot of wealth.
Speaker 1:Yeah, I think no. Just stay grounded, focused, be a good listener, you know. Listen to your clients' needs, their concerns, because at the end of the day, it's a big responsibility that is given to me. My clients work very hard for their money and I want to make sure I grow it and I'm responsible for that money and make sure I take care of them, you know.
Speaker 2:Yeah, for sure. Yes. Now, in terms of just like parting words of wisdom, what I call it. Do you find yourself saying something again and again through your life, or something that you live your life by?
Speaker 1:Yes, I would say be persistent, never give up and keep trying. I think all three are the same, but just do it.
Speaker 2:I love it. Thank you so much for being on the podcast. It was wonderful meeting you, thank you, and it's nice to have female and Latina representation in the financial industry. Thank you, muchas gracias De nada.