Name: Kathleen Grasmeder

Firm: Morgan Stanley Wealth Management

Location: Glens Falls, NY

Team Custodied Assets: $1.8 billion

Background: Kathleen Grasmeder studied commerce and engineering program at Drexel University and later earned an MBA in new venture management from the University of St. Thomas. She joined Smith Barney in 1996, building her practice through cold calling and multiple relocations early in her career. About a decade in, her husband joined the business, and the pair eventually settled in a small town north of Albany, New York, where they began growing their advisory team.

Building Relationships: Today, Grasmeder leads an 18-person team serving roughly 2,600 client relationships. “We’re in a small town in upstate New York… our clients are in these small towns, and we just do a really good job for the local folks,” she says. The practice has grown largely through referrals, with many clients remaining even after moving across the country.

Competitive Edge: Grasmeder attributes the team’s scale and consistency to a collaborative model. “I realized very early on that if you are going to be exceptional, it requires more than just my expertise. It requires other people,” she says. The firm emphasizes training and development to maintain consistency across advisors. “We have systems and we have a culture of supporting one another. We want everybody to be as strong as the managing partners,” she says. Education is also central to the firm’s client engagement strategy. “Very early on in my career, there were some advisors that would give their clients gifts… We always felt that it was more important to provide education,” she says. That philosophy led to recurring events, including a women-focused program that has run for more than 20 years. “We do a ladies tea in December of every year… the idea is to have a non-threatening type of forum so women can learn more about investing.”

Investment Approach:. Equities remain central to portfolios. “Equities are at the forefront because we know that there’s difficult times in the market, but that’s the best way to stay ahead of inflation,” she says. The team often uses dividend-paying stocks as a base, supplemented with global and growth exposure. Fixed income allocations typically emphasize individual bonds and high-quality securities, while alternatives may include exchange funds, private equity, private credit and real estate depending on client needs. During market volatility, the team uses technical analysis to help clients stay focused on long-term goals.

Best Advice: Grasmeder emphasizes building durable advisory businesses alongside investment expertise. “One of my favorite sayings is, ‘The team lives on.’” What began as a two-person operation with her husband has grown into an 18-person team, now including her daughter, who joined as a financial advisor eight years ago.

© Forbes