Interview with Tara Shulman, Financial Advisor at Compound

This interview is with Tara Shulman. Tara joined Compound in January 2021 as a financial advisor and has helped dozens of clients with their equity, liquidity, investment strategy, and cash flow planning. This is a slightly edited transcript of an interview Tara did with our marketing team.

Why did you join Compound?

Before I joined Compound, I spent 10 years in the wealth management industry. I started my career at a big bank serving ultra high net worth clients. I loved the work and was having a lot of fun, but the business model was a bit outdated. It didn’t seem like it had a lot of benefits for clients that they could get for a cheaper price elsewhere.

I moved to a boutique firm and built my own practice for a few years. While I found some success, I realized that wealth management needed to evolve beyond the scope of what I thought traditional firms were capable of delivering. I considered starting my own firm with some friends in the industry and talked to people in my network who had successfully innovated with their businesses.

When the opportunity to join Compound was presented to me, I couldn't pass it up. I wanted to join a team of individuals who were thinking about wealth management in a radically different way. I found Compound through their job board and decided to email Jordan [Gonen, Compound CEO] for an interview. We spoke on the phone a few hours later and I joined the team shortly after.

What was your first week at Compound like?

I spent most of my time onboarding new clients and providing feedback on our offering to the broader team. It was like the floodgates were opening – the only other financial advisor at Compound had a completely packed schedule. We had more demand than we knew what to do with. I jumped in and started having conversations with clients. 

The main thing I noticed was how different the conversations were at Compound compared to my other firms. We had software that helped us address nuanced liquidity events that didn't exist anywhere else. So the job was a hybrid between offering great advice and helping clients onboard to the dashboard and model out their equity or build a cash flow plan for them. 

What has surprised you most about working at Compound so far?

The demand from clients – young clients in particular – for our services. Our generation was particularly affected by the 2008 financial crisis and has a distrust in large financial institutions. A big part of the lack of trust came from the promises that the big banks just said, “here’s what we recommend, just trust us.” They didn’t want to “complicate” things for clients or “get too in the weeds”. The result is an entire generation that wants to be more hands-on with their personal investment decisions. 

We have a different approach at Compound where we work closely with our clients to not only help them achieve their financial goals, but also educate them on the options, decisions, and details that we are helping them with. It’s exciting to see the receptiveness from our clients and the community that we serve. 

What advice would you have given yourself when you started?

Just go for it!

Maybe I knew this back then, but you just have to take a deep breath and go for it. Coming from traditional finance, there are certainly bursts of time where things are hectic and you’re really pushing. But there are also quieter times, like during the summer, where things slow down. You can manage your energy knowing this. 

But working for a high-growth startup, you are working hard almost all the time. It’s not a bad thing – I’ve enjoyed the work a lot. It’s just a matter of setting expectations in advance to know what’s coming. 

What do people most misunderstand about working at a startup?

Anyone can do it. My friends frequently ask me how I can work at a startup, but it’s not anything special. I still have to get eight hours of sleep each night and show up to work everyday. The difference is just that people who work at startups act on the idea that we all have a drive inside of us to create something amazing. And you have to be a bit crazy to think that we could pull off something as hard as a startup. 

What stands out about the culture at Compound?

What stands out the most is the client service. We put their needs ahead of ours and it’s something I admire about my colleagues every day. 

As an example, we always want the clients to get the best value for their money, even if it doesn’t mean becoming a Compound client. After an initial consultation, if we know the client doesn’t have enough complexity to need our services right now, we aren’t afraid to show them other options that might be a better fit. We truly want what’s best for our clients – even if they don’t become our client!

Who is a colleague who inspires you and what did you learn from them?

There are many people at Compound I’ve learned from but one that stands out is Tammy. I’m inspired by the way she tackles all of her work and takes responsibility for getting tasks done from everyone on her team. She does it in such an organized way that I really look up to.

Note: If you’re looking for an all-in-one solution to manage your personal finances, Compound can help. We can help you diversify concentrated stock positions, optimize company equity, plan asset allocation, and more. Sign up here and we’ll be in touch.