Learner's Mind Conversation with Freda Lam Zietlow

An investor, financial advisor, board member, women advocate, and a proud Mum

Welcome to a new series at The Learners Mind!

Starting in 2024, The Learner’s Mind will bring you interviews and conversations with female fund managers and investors whom I have the honour to know and work with throughout my investment career and 100 Women in Finance within which 100 Women in FinTech (my non-profit work).

Research here and here found that female fund managers outperform their male counterparts, and mixed-gender teams deliver the best performance. Despite their outperformance, female managers manage about 12 to 14% of assets in the US, and only about 1.4% of US assets are managed by firms owned by women and/or people of colour according to the Knight Foundation.

With this new series, I hope to introduce the various roles of finance to the younger generation interested in a finance and investment career. Also, I share where some of the female fund management talents are around the world as finding the right person to advise/manage your money and grow your wealth is fundamental if you don’t want to do it yourself. Or, simply enjoy learning about their fascinating journey.

Please share this if you think a friend or a colleague would be interested.

Today, I am very excited to introduce you to Freda Lam Zietlow, a San Francisco-based fund manager, financial advisor, corporate leader, and board member who is making waves in the financial world. With over 20 years of investing and finance experience, she is a leading advocate for women and is committed to helping more women achieve financial independence.

Let me tell you more about Freda.

Freda Lam Zietlow is an international investment and wealth management executive with over 20 years of institutional investment and private wealth management experience. 

Currently, she is the Managing Director and Senior Portfolio Manager of Fiduciary Trust International with an uncommon breadth of expertise across portfolio management, public and private securities, real estate, and cross-border wealth planning strategies. She is a sought-after advisor for private families, endowments, and foundations. 

Freda is an advocator of environmental, social & governance (ESG) priorities and women's corporate leadership. She has served on many corporate and nonprofit boards as an independent director and committee chair. Freda has guided strategic transformation for growing organizations and companies in transition through rapid technological, regulatory and market changes. She was recognized as one of the Top 50 Women Leaders in San Francisco in 2023 by Women We Admire. 

Freda is multilingual and has lived, worked and traveled around the world and enjoys building relationships and communities. She is an active member of the National Association of Corporate Directors (NACD) and serves on the Leadership Committee of How Women Lead (HWL). Freda holds Certified designations as a Chartered Financial Analyst (CFA) and the NACD Director. She holds an MBA in Finance from the Wharton School, an MS in Real Estate from Columbia University and a BA in Architecture with Honors from UC Berkeley.

Connect with her at LinkedIn: www.linkedin.com/in/freda-lam-zietlow-cfa

In this interview, Freda shares her insights on her most valuable investment lessons and skills, her favourite book, her most favoured cause, and advice for people (especially women) interested in a career in finance.

Q. What are some of the most important lessons as an investor you have learned in your finance career?

First, time is more important than timing - Investors are often tempted to time and outsmart the market. Very few, however, have succeeded in consistently delivering outperformance through short-term tactical market exit and re-entry. Most success can be found simply by investing early and regularly in a diversified portfolio and letting the power of compounding do the magic. Einstein famously called "compounding" the "Eighth Wonder of the World". (To illustrate: $0^50 = 0  but $1.25^50 =$70,065).

Second, control investment costs and taxes - No one can control market actions. However, investment costs and tax efficiency of one's investments can be far more controllable and reducing such can add significant incremental returns over time. It is therefore important to consider what the after-tax, after-fee return of any investments may be when comparing different options.

Q. What is your most valuable investor/ fund manager skill?

As a financial advisor, I work with a wide range of clients with different backgrounds and levels of financial literacy. One of my most valuable skills is the ability to synthesize and simplify complex financial concepts and market dynamics into common language, actionable ideas, and what matters. There is a lot of jargon and noise in the financial media that often confuses rather than enlightens investors.

Q. What is your biggest life accomplishment? 

This is more of a blessing than an accomplishment - I was able to build an interesting and fulfilling career while raising two kids who are global citizens and care about our planet and people. There are of course questions, regrets, and mistakes along the way, but I am grateful that the kids, 17 and 18 now, have turned out more than fine.

Q. What is the most important book you have read that you want everyone to read?

Carol Dweck's book "Mindset: The New Psychology of Success" is a must-read. While we all have different natural strengths and talents, there are many more that one can acquire over time. Your "weaknesses" today don't define you but are opportunities for improvement and self-actualization if you adopt the "growth mindset". This worldview can change and improve many aspects of our lives, from careers to marriage, parenting, health & fitness, and others. This is an empowering book that l wish my younger self would have read.

Q. What is the most important tool/app (investing or others) you cannot do without?

I am in Finance so Excel is a daily tool l have used forever. More recently, I have been exploring several exciting “Al-enabled” tools that can potentially improve the efficiency and quality of my work in areas such as research, communication, and workflow management.

Q. If you are not working in your field, what would you be doing?

I would be a photographer or photojournalist - I have always been interested in the arts and photography (and was quite good at it throughout school and college). As they say, "A picture is worth a thousand words". Another area that I am very passionate about is supporting early childhood education for the underprivileged. I believe education is one of the most powerful ways to level the playing field and create pathways to success and advancement - and that has to start early. 

Q. What is your advice to younger women in finance?

Do your work well, learn how to get things done, and solve problems. As importantly, seek out advocates and mentors and network with peers and leaders within your company and in your field more broadly. Think about where you want to be career-wise in 3 to 5 years and acquire the relevant skills and experience. Be proactive with talking to your manager about your career development goals and keep track and remind your manager of your progress and accomplishments!

Thank you, Freda, for sharing your investment wisdom and lessons in life. I enjoyed learning more about you and your amazing achievements.

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Stay tuned for more interviews with female investors, managers, founders, technologists, etc. coming your way and subscribe to my newsletter to get them in your inbox when they come out. I also write a Weekly with relevant links about investing, wealth, living and other wellness stories!