Laura Combs, executive managing director at Mercer Advisors, brings a strong focus to the company’s commitment to positioning itself as a leader in serving female clients, particularly in the context of the imminent "great wealth transfer."
And, as women are expected to inherit a substantial portion of investable assets in the coming years, Combs is passionate about how Mercer Advisors is both attracting female clients and nurturing female talent within the company.
"We are very focused on being an organization that attracts female clients and attracts female employees," Combs explains. Mercer Advisors has taken a proactive approach -striving to become the "firm of choice for female investors and the firm of choice for female employees." This forward-looking strategy involves significant investments in female employees, with Combs noting that nearly half of Mercer Advisors’ client-facing staff are women.
"That's just a big focus for us," she adds, emphasizing the importance of having long-term female advisors who can build trust with female clients.
To hear more from Combs and other industry leaders, join us at Women Advisor Summit New York – book your tickets here.
Combs also recognizes that the nature of wealth transfer is evolving alongside social trends. While traditionally wealth has passed from parents to couples, more women are delaying marriage or choosing not to marry, resulting in a growing demographic of single women who are more directly involved in managing their wealth.
“People are getting married later, and I would maybe argue not as much,” she adds, pointing to the fact that many of her younger clients are single women in their mid-30s.
One of Mercer Advisors’ key initiatives to support this shift is the InvestHERs program, which Combs developed in 2018 to focus specifically on women.
"I was really passionate about making sure that we actually had action...and we weren't just talking about supporting women," she says, describing the company's commitment to meaningful engagement with female clients. The program emphasizes education and empowerment, offering events tailored specifically for women, such as those focused on recently divorced or widowed clients. These events provide vital support at critical moments.
"There's a window of time where women really need the support...and those events have been really rewarding," Combs explains.
Combs is also heavily involved in fostering financial literacy among women, a mission that extends beyond serving existing clients. She is actively engaged with younger generations, particularly through her involvement with the University of Colorado’s business school, where she mentors female students interested in wealth management. "It goes beyond just hiring female advisors," Combs says, stressing the importance of educating women at all stages, from high school to the early stages of their careers.
In addition to education, Mercer Advisors’ mentorship programs play a pivotal role in developing female talent within the organization.
"We have a formal mentorship program, and that's kind of our most straightforward mentorship," Combs explains. The program runs in two phases, starting with an all-women cohort in the first half of the year, followed by an open mentorship program for all employees in the second half.
"I still connect with my original mentee," Combs shares, highlighting the lasting impact of these relationships.
The mentorship program also extends into other skill-building areas, such as public speaking and leadership. “We have a public speaking women’s group,” she says, which helps women improve their executive presence, offering opportunities for women to refine their leadership skills in both formal and informal settings.
On the investment side, Combs has noticed a growing preference among female clients for values-based investing.
In its 2022 Women and Investing: Reimagining wealth advice, UBS highlighted that 71% of women consider sustainability when making investment decisions compared to 58% of men. Socially responsible investments are particularly important among younger women, such as Millennials and Gen Z. This shift has prompted Mercer Advisors to expand its offerings in this area, including female-focused investment funds.
“A lot of women will opt into those portfolios,” she explains. Philanthropy is another area where female clients tend to lead.
"We’ve definitely seen women are more philanthropic," Combs notes. In response, Mercer Advisors offers a range of philanthropic options and hosts events that combine charitable components with financial education. For example, Mercer Advisors provides guidance on setting up donor-advised funds, helping women and couples make informed decisions about their charitable giving.
One of the critical elements of Mercer Advisors’ approach is helping to ensure that both partners in a couple are fully engaged in financial planning. Whether it’s through investment strategies or charitable planning, Combs emphasizes that Mercer Advisors strives to involve both parties in the conversation.
“We always would like both spouses to be in the room,” she tells IN. “If it's a couple, it’s about making sure that both spouses have a voice and are engaged in the conversation. That’s an element of making sure we’re involved in the process, and that women are comfortable and men are comfortable. And that they everyone feels that they have a voice.”
To hear more from Combs and other industry leaders, join us at Women Advisor Summit New York – book your tickets here.
Laura Combs is an Executive Managing Director at Mercer Advisors. The opinions expressed by the author are her own and are not intended to serve as specific financial, accounting, or tax advice. They reflect the judgment of the author as of the date of publication and are subject to change. Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services.
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