Five Questions With:
Edythe M. De Marco

Edythe M. De Marco, managing director and wealth-management adviser at The De Marco-McCarthy Group at Merrill Lynch/Bank of America in Providence, has been recognized multiple times as one of Rhode Island’s best wealth-management advisers. She was ranked No. 2 on Forbes magazine’s latest “Best-In-State Wealth Advisors” list, behind only Malcolm Makin of Professional Planning Group/Raymond James in Westerly.

De Marco also was one of only two female advisers in Rhode Island to make Forbes’ recently released “Top Women Wealth Advisors” in the nation list. The other was Denise Roberts of Morgan Stanley Wealth Management in Newport.

De Marco’s other professional recognitions include being named to Barron’s magazine’s “Top 100 Women Financial Advisors” for 2017. She is the only woman in Rhode Island to receive top honors from Barron’s for 11 consecutive years.

PBN: Which areas of wealth management are your specialty?

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DE MARCO: We work with business owners and executives during the wealth-accumulation stage (working years) of their lives and through the distribution phase (retirement) of their lives, at which time they transition from the part of their lives where they lived on what they earned to that part where they largely depend on their investment earnings to satisfy their lifestyle.

We also focus on tax-minimization and asset-protection strategies and often find ourselves advising and guiding multiple generations of the same family.

PBN: What unique challenges do women face in planning for their financial futures?

DE MARCO: Women face particular challenges – divorce and widowhood, for example. Also, women are outliving men. The longer they live, the longer they will need to depend on their financial resources to supplement income from Social Security.

Women are best served by keeping themselves informed about their financial situation, learning how to budget and to systemically save and invest. We have found that women who do not involve themselves in the family’s finances can be faced with the harsh reality of having to do it for the first time if and when they become divorced or their spouse dies before them.

PBN: Which ongoing national or global trends or events do you think should be of particular concern in the long term for wealth managers and their clients?

DE MARCO: We are concerned that an aging population might put greater pressure on the government to provide for people in need, which may lead to future increases in taxation. Global trade concerns, such as tariffs, may cause an increase in prices, which would then lead to inflation.

These types of risks can be offset by having a comprehensive financial plan, so that steps can be taken to secure your future and avoid the possibility of outliving your money.

PBN: Which parts of the wealth-management industry hold the most promise for future growth?

DE MARCO: The more successful an individual becomes, the more time-starved they are. Because of that, they will often look to outsource the management of their financial assets. Many successful individuals are looking to accomplished and experienced wealth-management advisers to successfully guide them and help them grow their wealth. Having a financial “quarterback” of sorts allows them to focus on what they do best and still have a plan for the future.

PBN: How would you describe the evolution of the wealth-management industry since you started?

DE MARCO: Improvements in technology, by far, have had the biggest impact on the business since I started in 1981. We now have the tools to provide true goals-based wealth-management advice and guidance. We can construct portfolios with more-advanced and sophisticated solutions, such as [exchange traded funds], actively managed bond portfolios and alternative investments.

We also have the ability to professionally monitor, measure and report our performance, both relative to the appropriate indices and, more importantly, relative to the client’s goals and risk tolerance.

Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.