An Election Reflection
The morning of November 6, I woke to my husband saying, "Trump won." I groaned, pulled my pillow over my head, and felt a pit grow in my stomach. I was in New York City, preparing to attend a conference and awards ceremony honoring women in the financial advice industry—an industry where, despite some progress, women still represent only about 20% of advisors in a field dominated by white men.
I had been hopeful this time that a woman would make it to the White House—not a 'strong man,' but someone who could lead with both strength and empathy. My female colleagues and friends in financial advising were dismayed, too. I imagine some of my male colleagues were as well, though I suspect that many in the industry were satisfied with the outcome. After all, conventional wisdom says Republicans are "good for business": lighter regulatory burdens, higher corporate profits, and, theoretically, more wealth for advisors and clients alike.
They say Trump won because of the economy. As a financial advisor, I view the economy through a broader lens than just gas prices or the cost of a gallon of milk – we’ve had low unemployment, strong GDP growth, and a booming stock market. But for many Americans, the economy is defined by how much is left in their checking account at month’s end—a balance eroded by persistent inflation. Essential costs have climbed, and they haven't come down. For those feeling the squeeze, one of Vice President Harris's campaign issues—tackling food inflation—did not sway their vote. Americans wanted a change, and they voted for it. Although many factors likely contributed to the outcome, history tells us that financial strain often drives voting decisions.
Attending a conference in New York was a welcome distraction from the election results. Working in this male-dominated field is challenging, but among women, there's a strong camaraderie and shared drive to bring more of us into the industry and create a more inclusive environment. Of course, the election was on our minds, but we spent the day learning, refining our skills to better serve clients, and supporting each other through mentorship and sponsorship.
Outside the conference, New York City buzzed with its usual energy. Crowds of New Yorkers and tourists filled the streets, taking in the unseasonably warm weather and bright blue skies. Life goes on.
Whenever I’m in New York, I make it a point to see a play or musical. This time, I chose Suffs, which tells the story of the long fight for women’s voting rights in America. Did you know the suffrage movement spanned 72 years? After decades of effort by generations of women, the right to vote finally became a reality on August 18, 1920, with the ratification of the 19th Amendment. Many who voted for Harris may feel disheartened, but the suffragettes’ success reminds us of the power of persistence. Their achievement was hard-won because they refused to give up.