Morningstar - Q3 2022 - 71

98% of my clients were like, 'Oh my god, absolutely.
Great. Doesn't matter to us. We trust you.' "
Romero says that she's been able to take her
experience and use it to better inform her
work. On one hand, she's able to understand what
a loss of privilege feels like after coming out,
which many of her LGBTQ+ clients can relate
to. On the other, her transparency and vulnerability
have only improved the trust her clients give
her in exchange.
It's also not lost on Romero that long-term
planning is often a luxury-especially regarding
finance. Historically, people in disadvantaged
communities can't devote substantial time and
resources to the next 15 to 20 years of their lives in
the same ways as wealthier people.
" My grandfather was a directional oil drilling
engineer in Louisiana, " she says. " He had a really
challenging, dangerous job. In his 40s, he was
blown off of a rig in the Gulf of Mexico. He would
often say, 'I never thought I'd live to 95,' yet he did.
The irony for me today is seeing it in people with
nice, successful careers or businesses, and they
tell me, 'I thought for sure AIDS would kill me. It
killed everybody I know, so I never saved anything.'
Those stories motivate me. It is never too late to
work on financial goals, and never too early either. "
Andrea Romero, private wealth advisor, Faubourg
Private Wealth.
How she caught our eye: As a member of the LGBTQ+
community and with her experience in the not-forprofit
sector, she brings unique insight to her clients.
Career path: Obtained a Bachelor of Arts in theology
with a minor in history from Georgetown University in
1992. After working in the nonprofit sector for the
National Fish and Wildlife Foundation and American
Rivers, she pivoted to fundraising for Georgetown
in 2001, followed by stints with Tulane University and
the American Red Cross. She started working as
an advisor at Edward Jones in 2014 before leaving for
Faubourg Private Wealth in 2020.
Personal: Has two daughters, 8 and 11. Took on
the role of president of the Gulf South LGBTQ+
Chamber of Commerce in December 2020. A past
board member of Lighthouse Louisiana and
PFLAG New Orleans chapter and its PFLAG scholarship
program, she's also a member of the NOLA Cherry
Bombs, a marching crew that can be seen
at various events, including Mardi Gras parades.
Favorite investments: A mix of municipal bond
funds as a proxy for savings, classic dividendpaying
equities, international small and mid-caps,
and dividend-focused funds from MFS, Prudential,
and Nuveen, along with hedged and tactical
asset-allocation strategies through her RIA Advisor
Resource Council.
This is just one of many challenges that Romero,
and all advisors, must keep in mind while
working with LGBTQ+ clients, who make up one
fourth of her client base. Navigating legal red tape,
planning for medical or childcare costs,
estate planning for childless or estranged couples,
and avoiding complicated financial pitfalls
are just some of the reasons having an advisor
who empathizes is beneficial and important.
These challenges are further heightened by
Republican efforts to enact laws that criminalize or
restrict transgender medical care. Romero hopes
that financial security can prepare people,
especially those underserved, for any hardships
they may face. K
Keith Reid-Cleveland is an editor, content development,
at Morningstar.
Photography by Marc Pagani.
morningstar.com/products/magazine
71
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