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  • Writer's pictureKevin Elvington

WSR Names Nancy Andrefsky CFO of the Year

WSR Recognizes CFOs From Stratos, Carson, Steward, Edelman And Sanctuary As Inaugural Group Of Outstanding CFOs In Wealth Management


 

Since ancient times, the leaders of the treasury for a nation or organization were rigorously selected and held in high regard, because finance is the lifeblood of any organization. In the modern world, CFOs carry the same responsibility for honesty and integrity, wise management, detailed planning and loyalty to the organization.


The wealth management industry boasts many excellent CFOs who lead their firms through changes, growth initiatives, acquisitions and sales, adjustments to an ever-changing landscape and intense regulatory oversight. We have selected several outstanding CFOs from among this field to name as our inaugural, invitation-only CFO 5 – Top Wealth Management CFOs.


Each honoree has demonstrated a dedication to the industry, influence reaching across wealth management and a reputation for excellence in leadership, and WSR is proud to recognize them for their achievements and inspiration to our industry.


While we honor these distinguished executives, we also discovered an unsettling fact – a surprisingly small number of the CFOs in wealth management are women. Though we did not engage in a mathematical survey to determine exact data, the gap is apparent. It’s even more surprising when, according to Zippia, 56.8% of certified public accountants are women, a number that has shown little variance since 2010.


We ask wealth management industry participants, including executives, advisors, professionals and board members, to consider this gap and actively address it.

The honorees below are in alphabetical order.


Please join us in congratulating them.


As CFO of Stratos, Andrefsky serves on the firm’s executive committee and leads all aspects of the firm’s financial management, including analysis and forecasting, with an emphasis on the firm’s growth. In addition, she oversees human resources and marketing.


In recent years, she engineered deals that include full buyouts and minority stakes in firms ranging from smaller affiliated firms to multi-billion-dollar international wealth managers. Her development of a simplified onramp for investment established several Stratos-affiliated practices that serve as hubs for M&A activity.


Recently, Andrefsky secured a significant credit facility to drive M&A growth and oversaw the implementation of GAAP reporting for Stratos. She believes that firms must develop a structure that enables growth without allowing expenses to spiral prior engaging in meaningful M&A activity. She says never to compete with a foolish offer from another firm – be willing to walk away.


Previously Andrefsky served as a treasurer for several nonprofit organizations, as a controller for the nonregulated subsidiaries of Bell Atlantic (now Verizon) and as a Senior Accountant at Ernst & Young, where she acted as an independent auditor.

Andrefsky graduated from Franklin & Marshall College where she earned the Wall Street Journal Award in Finance. She lives in Hudson, Ohio with her husband and children.


Julius Buchanan, Managing Editor at Wealth Solutions Report, can be reached at jbuchanan@wealthsolutionsreport.com.



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