40 Under 40: Mackenzie Parsons is forging her own path in financial services
PHOTO / tim greenway
Mackenzie H.T. Parsons is a principal at Cornerstone Financial Planning.
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Significant professional accomplishment: First, becoming a Certified Financial Planner professional at a young age; this stemmed from finding a passion for my career in college and receiving support and encouragement. Second, navigating through business succession planning and the acquisition of Cornerstone Financial Planning.
Current state of mind: Well, I just had a baby, our first, so my current state-of-mind is adjusting to the new role and trying to soak in as much of this time as possible. It’s amazing how someone so little can change so many things, especially my perspective on what is important.
Passion project: I’ve been interested in calligraphy for the past several years. I find it relaxing and a great way to unwind after a long day. I’ve also started to dabble in embroidery and stitching baby names onto little sweaters!
‘Lightbulb’ moment: The first one was when I was a freshman in college. I entered as “business-undecided,” but when I took an introductory finance class, I found the subject fascinating. I was hooked! I changed my major to financial services.
The second instrumental bend in my career path came after I started work with a small financial services business. The owner supported me in earning my initial certifications, and I got hands-on experience in the profession’s functions. l wanted to explore other opportunities, met with Susan Veligor [Cornerstone’s co-founder] and she recommended I pursue the CFP designation.
I took a position with UBS Private Wealth Management in Boston and while there attended classes at Boston University. After earning my designation, I reached back out to Susan. She offered me a position with Cornerstone in the spring of 2014.
Audacious goal: Long-term, professionally, growing Cornerstone while maintaining its culture and core values. Long-term, personally, living in Japan for three to six months. Short-term: getting eight hours of continuous sleep!
Favorite quote: “If you fail to plan, you are planning to fail” — Benjamin Franklin
“Strive not to be of success, but rather to be of value” — Albert Einstein
Influential book: Hard to pick! I really enjoy the concept of “Happy Money,” by Elizabeth Dunn and Michael Norton. I use this concept and stories from the book when working with clients. The basic concept is that money can buy happiness; you’re just not spending it right.
“Street Fighters” by Kate Kelly is one of my favorite industry books. And “Get a Financial Life” by Beth Kobliner — this is my No. 1 book recommendation to anyone who is just starting out and wants to learn about financial planning.
Favorite podcasts: I split my time between Portland and Damariscotta, so I spend a lot of time traveling in the car. To be productive I like to listen to practice management or market recaps, but once I’ve caught up on those I enjoy “Science Vs.” and “Freakonomics Radio.”
Best way to recharge: In the summer, you’ll find me on the water in a boat of some kind. Any kind of water and any kind of boat! I co-own a John Alden Explorer, a wooden sailboat built in 1946. It requires much grit, sweat and commitment to get her ready every year, but it has become a labor of love.
I also welcome the opportunity to discuss oysters and their merroir. My husband, Brendan, owns a restaurant — the Shuck Station in Newcastle, and an oyster farm, Blackstone Point Oysters Co. And in the winter — skiing.
At age 60: I hope to have successfully completed another succession plan for Cornerstone and transfer ownership to the next generation while maintaining our culture and dedication to our core values and those of our clients. Maybe retirement and a shift to greater volunteer roles and time to invest in the local community.
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