When women talk about "having it all," they mean effortlessly combining family, career and outside interests. This ideal has been largely discredited as unrealistic, but apparently nobody told Lesley Sommers. The advisor meets with portfolio managers when she's not babysitting or running triathlons.

Sommers is the principal behind the Sommers Financial Group in New City, NY. She not only manages approximately $200 million in assets, she's also involved in her clients' total financial picture. She sells insurance and, working with a team of lawyers and accountants, takes an active role in estate and tax planning.

Prior to entering the financial world, Sommers was was devoted to raising her three children, to her job as a schoolteacher, and to volunteer work, which included starting a shelter for battered women.

ADVISOR PROFILE
Who	Lesley Sommers, CFP
Firm	Sommers Financial Group, Inc. New City, NY
Assets Under Management	$200 million 60% Mutual Funds, 15% Stocks, 25% Other
Custodian	Pershing
Highlighted Fund Family	Putnam

In 1981, a time when "very few" women were in the financial industry, she took the Certified Financial Planning course, as well as classes at New York University for tax and estate planning. She's been a CFP ever since, first for Gary Goldberg & Company in Suffern, NY, then she started her own firm in February 1997.

Her client base is notable for two things. First, it has a large number of women, up to 30% she estimates. Second, her clients are extremely loyal. "When I tell my clients what funds I think they should buy, they say 'Lesley, whatever you say.' I have a great number of trusting relationships and it works very nicely. Of course, I've been doing this for 20 years."

Busy, Busy, Busy

Given the number of balls she has in the air, it's no wonder that efficiency is a priority for Sommers. One way she manages to make room for both business and family is that her business is a family affair. Her husband is an accountant, who handles the firm's due diligence, commissions and office administration. One of the fund companies she deals with is Bear Stearns, where her son is a mutual fund executive.

She tries to keeps her support system streamlined, and deals only with people essential to her firm's functioning. Nathan & Lewis is her broker/dealer: "They're absolutely fabulous," she said. She uses data from Wiesenberger to check performance, and Overlap software to make sure that her clients are diversified.

The emphasis on efficiency extends to her relations with fund companies. She edits marketing materials ruthlessly. "I only read marketing materials that I ask for. If something comes in cold, I generally don't look at it," she said.

"When it comes to wholesalers, I respect them tremendously for the expertise they provide. I want them to tell me what's going on in their fund family, but I don't want their tennis balls, I don't want their golf balls. I've never gone out to lunch with a wholesaler."

She takes a hands on approach to her work, and the approximately 10 fund families with which she deals. "There's not a statement that I don't look at personally. I stick with a relatively small number of families to make sure that I can monitor them."

"Putnam is probably the family I use most. I've probably got about $25 million under management there. The managers have strong track records, and the firm is excellent at keeping me informed about what's happening."

Communication is a priority with Sommers, and she makes a point of keeping in touch with fund managers. She wants "to make sure that they're doing what they're supposed to be doing," she said. "Most funds have a 'presidents council' or a 'gold council' or something similar. I've been fortunate to be part of most of them, and I've made it my business to meet with portfolio managers." It's no surprise that when she goes to those meetings, she gets her business done and skips the wining and dining.

To the average listener, her lifestyle sounds relentless and exhausting. Sommers would disagree. "I adore what I do. I love it. I live, breathe, eat, sleep and drink it. But I have a private life as well." I'm getting tired just writing about it. 

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