Meet Laura Zaragoza Guerrero of Zaragoza Elite Wealth Mangement

Today we’d like to introduce you to Laura Zaragoza Guerrero.

Hi Laura, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
I grew up in East Los Angeles in a very unstable and abusive household perpetuated by my step father. I have memories of my Mom trying countless times to leave him. We would flee in the middle of the night, one time ending up at a women’s shelter in downtown LA. I would sometimes be picked up from school by my Mom in the middle of the day, and I knew it was time to flee again. I remember one time when she picked us up, the school counselor gave her some cash and told her that it was for housing and for food. I never forgot that. We ended up staying at a motel in East LA. There was the time we fled and we ended up in a rented house. My mother didn’t work, she was a stay-at-home mom, so this was only made possible by the generosity of others. I remember we didn’t even have furniture, so we had to sleep on the floor. I don’t remember feeling uncomfortable. I just remember feeling safe.
All through my childhood, the only constant in my life was my books. I read voraciously daily. For me, reading was an escape from my reality. It offered me reprieve from the darkness. I strived to do well in school because I knew early on that education was the key to opportunity. I remember telling myself that I would never be financially dependent on anyone. My goal was to get into a good college so that I could make something of myself. I chose Columbia University in the city of New York, paid fully with grants and scholarships.
My time at Columbia was a period of intense growth on many levels. It wasn’t easy. It was hard as hell. I went through culture shock, weather shock, every kind of shock you could think of. But I made it! The day I graduated was a like a dream. My Mom was the only one there, but she was all I needed. She was the only one that mattered. She was so proud. I was so happy to make her proud.
After graduation, I immediately started working for the VP of the Cultural Heritage Commission under Mayor Richard Riordan. One of the organizations she led was the Hispanic Women’s Council. That is where my passion for empowering women was born. Knowing what my mom had gone through, I always felt the need to give back. I remember thinking every time someone handed my Mom money for shelter or food, “I am going to work hard so that I can be financially successful someday and be able to do that for someone else.” I remember at a young age being humbled my people’s generosity.
Working in the nonprofit sector taught me a lot about myself. It taught me that I absolutely loved making a difference. I loved having a positive impact on lives. I loved working with people and helping them navigate through difficult situations. However, I struggled financially–something I vowed at a young age I would never do. I wanted better for myself and for my future family. I thought, what can I do that will allow me to help people, make a positive impact on people’s lives, and also make a good living so that I could give back to society?
Throughout my post college years, I always had one lingering thought that wouldn’t go away. I thought about a career as a financial advisor. I was fascinated by Wall Street when I was in college. A lot of my classmates were pursuing careers with Wall Street firms like Bear Stearns, Goldman Sachs and Merrill Lynch. I actually went to a career fair for a top brokerage firm at the time. The room was full of middle-aged white men. I was 21 years old, a woman and a minority. Needless to say, I walked out of that room very quickly. But I never gave up on the idea of a career in financial services. It lingered in my mind for years. When my daughter turned 2 and I started feeling like I needed a new challenge, I knew it was time.
In 2002, I applied and got hired as a financial advisor with a Fortune 500 investment firm. As I financial advisor I have been able to do what I love–work with people and help them every day. I change lives. I do well by doing good.

Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
Becoming successful as a financial advisor was not easy at all. In fact, it was very difficult, especially for someone like me with no financial background or sales experience. I felt inadequate and unqualified, but I had the belief that I would be successful no matter what. Once I researched the opportunity thoroughly, I felt it was my calling. I promised myself I would do whatever it took to be successful. I started my practice from scratch–zero clients, zero accounts. I was never given accounts, and I never bought accounts. All my clients came from my blood, sweat and tears–literally.
Most financial advisors just starting out would probably agree that rejection is the hardest part of the job. Hearing “no” countless times a day is mentally and emotionally draining. You feel like you are spinning your wheels 99% of the time. Not to mention, the pay is very low at first, so the financial stress is intense. The hours are long, and you work 7 days a week. In a nutshell, it is brutal. However, I would say that the toughest part for me was knowing that every minute I was away from my 2-year-old was a minute I would never get back. I recall my husband at the time saying, “She doesn’t even recognize you anymore!” His words were a dagger thrust into my heart! I became a single mother, juggling motherhood and growing my practice simultaneously. I told myself that if I was going to sacrifice time away from my daughter, I HAD to make this work. I didn’t want a single minute to be in vain. I truly believe that was the main reason for my success.
Another challenge I faced was being one of a very few number of women at my firm. There were few networking and mentorship opportunities available at the time. I was fortunate enough to eventually be connected to a woman mentor who became my advocate. Since then, I have been blessed with a number of mentors who have helped me in my growth, and have served as a beacon of light. In my effort to pay it forward, I volunteer to serve as a mentor on an on-going basis, and focus on empowering women in any way I can!

Thanks – so what else should our readers know about Zaragoza Elite Wealth Mangement?
We are a financial planning practice with a mission to empower individuals with personalized strategies to achieve lasting financial prosperity. As a Certified Financial Planner® (CFP) professional, I develop and implement comprehensive financial plans for clients, offering guidance on a wide range of financial matters.
Our team consists of 2 financial advisors with over 40 years of combined experience, an operations manager and a business development director. We also have an estate planning attorney and a tax professional as part of our team who work in collaboration with us for the benefit of our mutual clients.
What sets us apart is the personalized service we provide to each and every one of our clients. We do everything in our power to consistently exceed their expectations when it comes to service. The Platinum Rule, “treat others the way they want to be treated,” is great. However, we take it a step further and feel that we need to treat others way they don’t even know they can be treated–in a way that will exceed their expectations (I coined it the “Palladium Rule”). Nowadays the bar has been set so low for client service that many people don’t realize that concierge-type service is something they can and should receive! We take the time to learn what is important to them, what their values are, what their purpose is. We make it a point to get to know their loved ones and those who will be taking on the role of conservator or successor trustee when the time comes. We take the time to learn every intricate detail of their financial picture and guide them every step of the way in their financial journey. Should they become incapacitated, we guide their conservator every step of the way, connecting them to the proper resources so that they are able to provide the best care possible for their loved one. I came across a term recently, and it resonated with me. That term is “net wealth.” Unlike net worth which is material ownership, net wealth focuses on life aspects, such as relationships, health, education and career choices. In a nutshell, our practice focuses on our clients’ net wealth by creating and implementing financial plans that are aligned with their values, goals and aspirations.
Also, we are proud to be a multi-generational financial planning practice, managing family wealth across several generations. To many of our clients, empowering future generations with financial literacy and preserving the family’s core values is of utmost importance. In this way, we are not only positively impacting clients’ lives, but we are also impacting the lives of those who matter most to them. Being able to continue executing clients’ wishes long after they are gone is a humbling honor. It is what gives my life purpose.

In terms of your work and the industry, what are some of the changes you are expecting to see over the next five to ten years?
I think there will be an increasing need for financial advice due to factors such as a growing number of people retiring and a decrease in pension plans. People will be needing more advice when it comes to their retirement savings, catastrophic risk protection (specifically long-term care protection), as well as estate planning. Also, it is expected that over 100,000 advisors plan to retire in the next decade, representing nearly 40% of the industry. I think this will lead to the number of jobs for personal financial advisor to grow much faster than the average for all occupations.
Another trend we are seeing is more women being heavily recruited into the industry to help service an increasing number of women who are becoming the financial decision-maker in their family. I believe it is projected that women will control two-thirds of investable assets in the US by 2030. Research shows that there is a link between the diversity of a firm’s advisors and their ability to meet the unique needs of female clients. Teams that include women and members of other underrepresented groups are seen as able to better retain female clients during major life events. Women have been underrepresented in this industry for a long time, currently making up only 23% of Certified Financial Planner (CFP) professionals. I had the privilege of leading my previous firm’s women’s initiative in Southern California which focused on attracting, recruiting and developing women advisors. In that role I was able to witness first-hand how women’s attributes like emotional IQ and people skills make them great advisors. I am passionate about empowering women and those who are underrepresented, and am currently working on growing our team with a diverse group of advisors who reflect the diversity of the communities we serve.

Contact Info:

• Website: https://www.ameripriseadvisors.com/team/zaragoza-elite-wealth-management/
• Facebook: https://www.facebook.com/people/Laura-Zaragoza-Guerrero-CFP-AAMS/61551486598162/
• LinkedIn: https://www.linkedin.com/in/laurazaragozaguerrero/