Regions Financial Corporation (RF) Earnings Call Transcript & Summary

Good afternoon. Good afternoon, everyone. Welcome. I am Lisa Harless, Private Wealth adviser from Nashville. Thrilled to be here in Birmingham at the Vulcan. Love this event center. We have a great group of ladies and gentlemen joining us here in person, and then we've got the folks join us virtually. Everyone from California to Atlanta, they're everywhere. This is an initiative of the Women and Wealth effort. And our goal is to equip, educate and empower women so that we will all take control of our financial futures and along with our families, be able to help our financial legacy. And we're doing this through events like this through other projects. And then we're going to have the one-on-one consultation with our professional team because each of our financial situation is unique to each of us. And it's exciting to be a part of a company that has this emphasis on women and wealth. So we're very excited. And okay, now I use the phrase rock star very conservatively, right? Well, I have brought from Nashville, a true rock star, go girl, of leadership in the music industry and join me in welcoming the Senior VP of Music Strategy and Talent of Country Music Television, CMT, Leslie Fram.

Thank you. Thank you. Thank you.

Let me say I'm excited to be on this stage. So many of you have seen the bio, we shared that with our attendees before today. But just some cliff notes, I just got to say a couple of these things that she oversees all the programming for CMT and at cmt.com, all their original programs, all the music on all the different screens that they have, let me say, I love Campfire Sessions. I love the Smashing Glass, I love Crossroads, I love everything that you do. But she has been recognized, for instance, by the T.J. Martell Foundation as outstanding women executives. She's been on the Grammy board, still on the Grammy board, Save The Music Board, inductee into the Georgia Hall of Fame for the Radio Hall of Fame, lifetime achievement that one was. National Business Journal, Women of Music City 6 times in a row. Every time I pick up an issue of a music trade like Billboard or one of those magazines, who is -- whose pictures in there? Leslie Fram. And I'm like, I know her. Close personal friend of Leslie Fram.

So Leslie, I would love for you to tell us how a gal from Fairhope, Alabama, just a few hours down the road on I-65, made it to New York to become a Program Manager and then the on-air personality for a major radio station. Then you segue, come to Nashville, Tennessee to head up CMT's great music effort. What was that path?

How do I follow that introduction? Can you [indiscernible], well first, I feel very comfortable in a room full of women, except for our 2 husbands in the back, but thank you. I have to say before we start, I'm honored to be here. Thank you to Regions and especially thank you to Lisa Harless. She was one of the first people I met when I moved to Nashville in 2008, my former boss and mentor Brian Phillips said, the one person you need to meet in Nashville is Lisa Harless at Regions, and she's going to make your life so much easier. So I remember when my husband and I walked into the...

I remember.

If he walks into a room and there is a presence about Lisa Harless, seriously. And you have changed our lives. We can't thank you enough for your guidance. It's been invaluable and your friendship over the years. So thank you.

Well, it's a mutual admiration.

Just had to say that.

Thank you. I remember the restaurant we went to and the booth that we sat in. So everything starts with a great meal like they're having right now. But tell us how, was that path? How did you get from Fairhope to the Big Apple?

I was a seriously shy child growing up. Radio was my form of entertainment. And I just remember all this encouragement that I got from my parents, which is you can do anything. And so I remember having that as a foundation, but also having incredible mentors. And I think when I first got into radio, it was at a time where you could be a risk taker. And it was okay to be a risk taker. So I just inherently learned, that's what you do. And I believe that I've been very lucky throughout my career to have mentors and people that have actually allowed me to do that. And taking that leap of faith, going from a little town of Fairhope to Mobile, Alabama, then to Atlanta for 17 years and then to New York and then Nashville and kind of changing career paths as well.

Right. That's impressive. And I love to hear -- I know we have many mothers or even grandparents or aunts and uncles, that you've got early encouragement from your parents and your family would say, you can do this. And even though you're an introvert, you have come to rule the world, and I love that.

I chose radio to begin with because you're behind a microphone, people can't see you. And then I decided, okay, well, I sort of need to put myself out there, like you do, you're such an expert at doing what you're doing right now. But I think making yourself be in situations where you're uncomfortable is really important. And that's what I did in early age.

Yes. Incredible. Well, one of the things I love about Leslie, she already has a full-time job with her executive position at CMT. But yet, she has come into the national market and saying, wait a minute, there is -- we need to change some things up here. We need to give women a stronger voice. We need to create some more opportunity for our women. And so she, and a couple of other gals that I adore, started something called Change the Conversation. Again, this was not on our job requirement. She just said, we need to do this. So tell us what you and a couple of ladies did with Change the Conversation.

So I moved to Atlanta in 2000 -- or moved to Nashville in 2011. And doing country radio or country programming, I didn't really know a lot about the format. I knew about classic country. I didn't know a lot about modern country. So I put my head down for about a year to really understand what it was about, going from rock radio now to television and going from rock to country. So I put my head down for a year really to sort of understand the format and how it works. It works so differently from other genres. And then, of course, meeting a whole new set of people. But in that year of learning, I recognize that women, especially female artists and songwriters have a really hard time getting recognized. And by the way, that hasn't changed. So 2 friends of mine. One was a publicist, Beverly Keel, and she had written an article in The Tennessean about this subject. And my friend, [ Tracy Gershon ], who was a manager and was having a really hard time getting one of her artists signed to a major label because remember, it was like one slot. We're like, what do you mean one slot? It should be about women supporting women. So we started this organization called Change the Conversation to just have panels, do mentorships so that women had a place -- a safe place and that we could offer not only encouragement, but any sort of information to help them get to the next level, and we started that in 2013.

Right. And it just let women know, okay, it's not me. It's not that I lack the talent or the personality or the look but that there is a greater broader issue that I've got to overcome.

Women were always told, especially at labels or publishing companies that there's only room for one.

One female, meaning.

So it was this very competitive situation. So we were like, no, it's about support each other, pay it forward and amazing things will happen. And so now we have seen that and it's still hard with social media for a lot of artists, but we've seen that women supporting women has really encouraged these artists.

Yes. And so she had great traction and great success with Change the Conversation. That continues today. And then as a change maker and as a woman that gets in there and says, wait a minute, here at CMT, there are ways I can affect change and programs and initiatives I can begin. And so tell us a little bit about Next Women of Country and equal play. Tell us about that.

So going back to women largely being ignored. Fortunately, my boss at the time, I went to him and said, we should start something for these young female artists. And everyone agreed it was the right thing to do. So we started this program called Next Women of Country. And last year, we celebrated 10 years. We've had over 100 women that we've supported. We play their videos, their content. We try to help them get gigs where they actually get paid. It's just -- it's a lot of great exposure. And so we're about to announce our new class coming up in January at City Winery. Everyone's invited, if you're in Nashville. And then 3 years ago, again, sort of looking at ourselves because you can't really control what other people do. And being a gatekeeper, we keep looking at ourselves, okay, what more can we do as a company to pay it forward. So we started looking at all of our resources. We have 2 24-hour video channels where we play music videos, and we play videos in the morning on CMT. So we decided, why don't we program them 50-50, male-female. Again, the company said, that's the right thing to do. Of course, we haven't suffered in ratings. People really do like seeing women and hearing women. And so we started that 3 years ago.

And that's a major shift.

It's a major shift.

That one [ accident ] that you're able to make happen.

And I think that we're in fear of just women's voices disappearing, especially on terrestrial radio and some playlisting because it becomes this self-fulfilling prophecy. If you don't hear a female being programmed in a 45-minute segment, you're not used to hearing a female, whereas women support and also bring that diversity to any sort of playlist. Then we started, just for artists that really have an equally hard time, diversity and inclusion with a program called Equal Access that we do with a company called mtheory. And we picked 3 artists and 3 people trying to get into the pipeline of country music and give them a year-long curriculum. We put money into the program where they have a stipend if they want to make a demo or a video and so we introduce them to people in the community. So that's called Equal Access, and we're going into our third year with that as well.

That's great. So your company, just like Regions, diversity, equity and inclusion, those are hugely important factors for us. And I'm just so excited that you've gone in there and said, we haven't done this before, but I think we need to start. And it's that confidence and that change that she has affected. It's one thing to say, I wish we could hear more of the females, but Leslie is like, I think we need to have it 50-50. Go Leslie.

Well, I think it also encourages other -- and there are a lot of people that are doing similar programs which is so important because those are the things that actually bring me joy in my job, when you can see that you've changed someone's life because it's someone's career, it's their lifeline. So it is something that I look forward to working with every day.

Well, I would love to now kind of dig into the, what makes Leslie tick world. And now I've got to let you know that some of my colleagues have planted some of these seeds of thought. So this isn't a [ poll ], I've got [ Jada ] and [ Sydney ] and different ones that are partners in crime on this. But when I tell folks that I'm an entertainment banker, I'm a wealth adviser in the entertainment world, they immediately think of the glitz and glam, and they're like, oh, is she on the red carpet with a gal that she got at the clothes tree or something like that. And tell me, what is the -- what is your reality? You're an executive with a music company. Is it glitz and glam? Have there been surprises? What would people be surprised to know or not surprised to know?

I think you should probably ask my husband, who says that, I'm on my phone 24/7. It's something that is just -- it's not a 9 to 5 situation. You have to really love it. And I know that you all have jobs that you love, but it's being in the trenches with your team. It's long hours sometimes, especially if you're working on a production and...

Not glamorous.

It's not glamorous. And I think we all do it because we love it, and we love the energy and we love the team effort. And so it's that situation where even on a Saturday, of course, you have to check your e-mails. You have to make sure everything is happening where it needs to be happening. But it's not a complaint to me. I love it.

Right. And the reward is when once you have put together the CMT award show or you have successfully launched the airing of an incredible special. That sense of achievements got to be exhilarating and you're like, okay, I didn't sleep for the last 4 days, but I'll catch up this weekend.

I want to say, too, that you have always been someone that -- you're a great example of this that picks up the phone or takes 5 minutes to send someone e-mail or a note card, you've always done that for me and I want to thank you for that. But I know that there have been many times -- like you've even sent me newspaper clippings. Something...

Well, I've been so excited for you.

Thank you for that. But no, it's great when you see some big production, and you see it come to fruition, and then you realize the next day, you start working on the next one.

Yes. Exactly. All right. Now you've talked about things that had to have taken a lot of courage and confidence and real power in order to negotiate change and to make change happen. So is there any time where you felt like you couldn't be true to your authentic self, or have you always been able to maintain you, Leslie Fram, and who you are even in a difficult situation?

I think probably my upbringing allowed me to do that, but there have been a many women that have talked to me about situations that they have been in, awkward situations. And when you actually sit down and tell someone, you really don't have to do that. You don't have to do what this person said that you have to do, or you don't have to stay out until 3:00 in the morning with a program director at a radio station just because you work at a record company. And I think when you actually sit down and realize you can create your own boundaries, it's really freeing and powering. And so I think for those reasons I haven't been in those situations.

Right. And so that -- you're sharing with me, as I have done as well, that we're often mentors for our next generation. We worked with a lot of the universities in the Nashville market. And those students will say, one, the first question is, I want your job. How do I get your job? But then a lot of times with our colleagues or with the folks coming up in the next generation, it's like, how do you navigate situations where you feel like your ethics could be compromised, or at what point do you say no if you're trying to have success in an industry? So I think it's great that you're like, set boundaries. You don't have to stay out until 3 in the morning. And I drink a whole lot of iced tea. And so they're like -- seriously, many people will say, well, I want what she's having because I'm having such a great time. And I'm like, well, I'm having iced tea. But you don't even have to do what everyone else is doing to have a good time and to be accepted and to make the impression.

I think social media has changed so many people and their perspectives. And I know that growing up, I didn't have to deal with that. And now you have people that -- it's the comparison game on social media. And you have to tell artists, be true to yourself. Don't look at what someone else is doing, you actually don't know what they're going through. And so I think being a mentor, when we get to this part of our careers, it's really important to give back about those life lessons. And I do think it is a lot harder today to navigate this world and this business world.

That's true. And you and I have grown up in pretty much a male-dominated world, but yet you're demonstrating leadership, negotiation skills, great ethics. What keeps you grounded? I know you've talked about your parental influence and mentors, but if someone says, what keeps Leslie Fram grounded?

I just -- I try not to make it anything about me. I really -- like this is great because obviously, we want to give back and talk and try to send somebody off with some great message. But honestly, I really don't like the focus to be on me. I'd rather the focus be on someone else. I know that you do this as well. You go out to lunch with someone new, a new friend. I always find myself wanting to hear their story. Not my story, but their story. So I think a lot of it has to do with that, not having the attention on me, but having the attention on the person sitting next to me.

A genuine interest in someone else's story. I would completely agree on that. Has there been something that you would consider a challenge that you've had to overcome in your career, I mean, going all the way back to the Fairhope days?

It has -- it's very -- it's still male dominated. When I was in radio, I remember thinking, oh, things are going to change. There'll be more women that are general managers or sales managers or program directors, and it never really changed. And there were a lot of women that would come to me when we would go to any sort of a seminar and ask about that, and it's trying to find your own path and find those companies that will hire you to actually allow you to grow. And so I think that throughout my career, it has been that challenge. And then, fortunately now, I work for a company called Paramount, and they're very supportive of women in leadership roles, which has been great. And this year, I've been able to give, actually in January, 3 people on my team, 3 women on my team, promotions. It's a great way to start the year.

So women supporting other women. And I feel that here at Regions, I mean, from our -- the top of our private wealth area, Leslie Carter-Prall there in Indiana, to -- the volume of wealth advisers that we have who are female, trust advisers, portfolio managers, that's important to me to know that I'm with a company that -- is taking care of the women, and it recognizes our talent and our skill set. I've got many, many clients in private wealth who are females. And so we're able to have a conversation very naturally, very organically and may deal with a lot of the same issues. So yay for women helping women in CMT and Regions and women in wealth. Absolutely. So there is a new generation of folks coming along, right? And for those -- it's in the financial services world as well. So what do you think is like different now? Or what's the same? Or what are -- there going to be new challenges? What do you see?

I do feel like there will be new challenges. It's interesting because we're all taught about talking -- how do you talk to different generations of people. And I think that's really important because everyone has...

How do you text?

And I do think that actually having -- sitting down and having a conversation is so important, and that's what we all -- we used to do this thing where you could not send an e-mail out on a certain day. You actually had to get up, and this is when we were in the office 5 days a week. We're only in there 2 days a week. But before COVID, go and talk to the person who is sitting in the next cubicle, and try to really have that -- those one-on-one conversations. I think it's really important.

I agree. Is there anything you would tell the younger Leslie Fram, way back in your career? I think that I would tell her to -- what would you do tell her?

It's funny because I say this, yet I'm still learning how to do this, and that is learning about balance. Because I know in my...

Can I get amen from the husband, Lanny?

He is like, not commenting.

He has been non expressional.

I think balance is so hard, but I know in my 20s, all I did was work. I was like, so career-oriented. And now looking back, I was like, what was I doing. I didn't spend time with my friends. I didn't spend time with my family. So really learning that balance. It's good for your health, too, by the way.

And I actually think COVID may have helped people with their balance.

It did.

Do you think maybe it did? Because all of a sudden, we couldn't be going 24/7, 7 days a week, 90 miles an hour. Not only could we not be going, we came -- the world came to a screeching halt. And what I see where that may have created maybe some challenges for some of our younger generation, is that they had to go 2 or 3 years. I mean they may have missed their high school graduations, their proms, a lot of events. There were some very formative years for -- this one just -- I mean this is K-through adulthood where we were all impacted. But just think about how your routine got interrupted, right? And so for some of our younger folks that were not used to being in front of the public and used to talking, we were doing it before COVID. So we kind of picked up where we left off. But for those that they were just now progressing to get ready to graduate or maybe enter the workforce. And all of a sudden, they've been at home in front of a laptop for a couple of years, it's been an adjustment, and I think time will help a lot of that. But I also think we've got to be patient with the ones that has been their reality to go, I get it. I get it. And you think about in positions like in the retail world in a branch or any type of a retail position where you've got a new client coming in, new client coming in, new client coming in. We've been doing this almost 4 decades. We're like, send the new client in. We are ready. But for those, that was not the reality there for a couple of 3 years. It's an adjustment. But I've got every confidence they're going to jump right in and follow our lead to let us mentor them and help do that.

It was a difficult time, and I think you have to look at everyone's situation. I found that it was great for me because I realized I did not have to be out every night. But I looked at some of the team members that I had, and some of them were single and they were living home alone and it was really difficult.

Yes. And it was really hard.

Very difficult for them. So I think it just depends on what the situation was. And I think people are still trying to find some sort of normalcy.

I think so, too. If someone asked me what did I learn from COVID, this is totally unrelated to anything we're saying. But I learned I did not need to be washing my hair as frequently as I had been. I'm like what, you can go this many days and it still looks okay. I wish my younger self had known that COVID thing was coming. All right. So now let's think about the inner voice. I hear about self-talk. It's kind of like what do we say to ourselves to psyche us up to get through a day or to get psyched to go to work or psyched for whatever event. Leslie, if I were to eavesdrop on your self-talk, okay, what would I hear?

I -- probably, for me, if I keep to a certain routine, like we were talking about this earlier, self-care and things like that. And so I know I feel the best when I've had enough rest, which sometimes I don't because we might be binging Netflix until 1 of the morning. But getting rest, trying to do some sort of a workout regularly, and not forgetting to -- I mean these are simple things, but it's true.

They're in a [indiscernible] sleep, rest, diet.

And I think that really effects your mood everyday. What will the day bring.

Well, you are lean, mean, fighting machine, Leslie Fram. So I'm curious, what is -- what are some of your dietary habits?

Well, I don't do any of the cooking in my house. My husband does all the cooking, which is probably really good for me.

I'm blessed with a similar scenario. I like to bake and he likes to cook, which is perfect because that gives you an entree and a desert. So yes.

I do like my sweets, but I try to temper those. And I do -- I feel like, just again, regularly trying to do some sort of a workout, it really helps you mentally.

Right. Right. And what -- when do you do that in your day? Because your husband says, you're on like 24/7. You never -- yes. When do you work out?

Mornings, mornings.

Okay. Speaking of mornings, you may think you know a morning person. But Leslie, tell them what you told me a while ago about when you were doing the radio station in New York and what age were you at this point?

Well, for 20 years, I did a morning show. So it was really not just New York, it was also Atlanta. So it was 20 years of getting up at 3:30 or 4 a.m.

Okay, let's just pause and take that in for a moment. Getting up and getting ready to be on at 3:30 or 4 in the morning. You did this for 20 years.

For 20 years. And then I was also -- I had a dual role of program director, so I worked until 6 at night. And then many nights went out. So when my husband and Id move to New York...

She is Wonder Women, right, right? Wonder Woman?

So when we moved here because New York was really hard. I don't think I slept for 3 years. But when we move to Nashville, and I would do things at night. Nashville is a very early town, 6 p.m. showcases. I have friends saying, gosh, how do you do it? I'm like, you do not know my former life. So we did that for 20 years. It was -- it's not easy. Your biological clock gets really messed up.

So you burn on different cylinders because -- tell us about -- we've kind of rolled over that as a program director and the on-air personality. So describe, for those interested in the radio profession or maybe have relatives, what were those 2 different functions? What did that entail?

When I moved to New York, I was really only going to be the Program Director because I was like, okay, this is New York City. It's going to be a challenge. It's going to be really difficult. And when I got there, they said, hey, how would you like to do mornings with this guy named Matt Pinfield, who used to be on MTV? You could do mornings with him and then I said, yes. And so you really as the mornings...

So it's like mornings with Matt and Leslie?

It was. It was...

I like it.

It was a WRXP. It's not on the air anymore. 2008 to '11 in New York. And it was a great experience. But when you're on the morning show, you have to -- you're not the program director. You're the talent. You get off the air and then you put your program director hat on and you're the boss. So it's 2 different things.

You scripted the show.

We both did. It was...

You said like this is when there will be a commercial break. This is when we will run this. This is when we'll play this song. And it's fascinating. How many have you -- some of you -- the live audience been to a radio station and seen -- we've got some hands, Olivia back there has been. And it is just fascinating down to like the half a minute or whatever. And it's live. It's on and you don't speak. But kudos that she was able to -- and let's just say for a minute, where did you get your schooling and learn some of these skills?

In high school, I was part of this drama club and we stumbled upon the local radio station. And I was like this is it for me.

So this is in Fairhope, Alabama?

This is in Fairhope, Alabama.

So this shows you don't have to be from a major market like New York or L.A. or Atlanta to be able to have this opportunity. And I'm going to do a little shout out for the National Academy of Television Arts and Sciences, NATAS. I serve on that board. And we have our student Honors Awards, they're coming up in April. But the high schools, high schools now have amazing technology.

It's incredible.

Because they get the hand-me-downs from like, I know there's a Pearl-Cohn high school in Nashville, got the hand-me-down equipment from the golf channel, right? So these high school students are being equipped with great technology and great training. And then they get media personalities who work for major networks, their -- as their high school counselor or coaching them. But just to say that's something -- we might involve you as a special guest speaker because you're so good but -- for the next generation.

I was going to say, say the music does the same thing where they give grants to high schools around the country and the students are -- they're making trailers for movies.

Music videos, yes.

It's unbelievable what they're doing.

We have categories like best public service announcements and best news coverage and best public Interest or whatever. So again, that's just ways that we're parts of organizations that are helping bring along the next generation so that we're giving you all, your kids, your grandkids, those same opportunities that we've been given, which I just -- I love that.

Music in the schools, yes.

Yes. So in your career, because I can think about this for me, are there like organizations or programs or books or mentors or coaches that have helped you get to where you are? Do you look back and go, that was a difference maker.

I think growing up, I remember sending a tape to someone that I listened to in New Orleans, just blindly sending a tape, asking this person to critique my tape. And they actually listened and invited me to come see he and his wife. And that made such a difference to me that I said if I'm ever in a position to help someone, I'm going to do the same thing because this person just like took this tape out of the blue...

From someone he didn't know.

Did not know. He got back to me, critiqued the tape. And so that was again a leap of faith. But it's important -- it's really important to give back.

Well, I think about an organization, and we have these in the different cities, but Leadership Music for me in Nashville was a great program. I know some of those watching in Nashville have probably been part of Leadership Nashville, and there's Leadership Birmingham. Some of you have probably been parts of that or know about that. But those are great organizations where you're learning about different companies, what different people within those companies do. And then you start -- the 6 degrees of separation just start like, oh, wait, your company does that. our company does this, we should do this together. So I will say Leadership Music has been like that for me.

Leadership -- and what we're talking about with Leadership Music because it's a 10-month program, there's record company day and studio day.

And artist day.

Yes, I remember going to publishing day and not knowing a lot about how publishing works in Nashville. So it was really invaluable, and I still maintain those relationships. It's great.

Yes. All right. Well, let me look here at my notes and see if there's anything that I haven't covered on that particular category. Well, here's a great one. Let's say you're going into a situation and you're like, this could be a little stressful. You're going to deep breathe, you're going to get 8 hours sleep the night before, drink a lot of water and work out on the treadmill. But at the same time, maybe it's a contract negotiation or you're going to really vouch for a program where you're getting some resistance. I mean, what -- how do you psyche for that? What do you do to get ready? Because not that any of us ever have any challenging moments in our lives but let's say one of us were to ever have such a moment, what do you do?

Okay, I've been in those really challenging situations. And one time someone gave me this advice and it really worked about honesty is the best policy. I know that sounds simple. But going in and speaking the truth will set you free. It's true. And that's what I try to do because any sort of a difficult situation, you just have to tell your truth.

Right. And then that kind of diffuses the stress. I think it does, too. In a situation like as a wealth adviser or a banker, we never want to have to say no to a loan request, particularly. But I have found that it's best just to be straightforward. And just -- and also when there is negative news to impart, isn't that better done quicker than later, right? And so that's a little tip that I've learned. But just to be straightforward.

State the facts.

Yes. And so here's the facts. Like if I have to like -- if I am unable to accommodate a loan request, I'll say, first of all, what you've got to know, I am compensated for doing loans, right? So I have incentive to do loans as a Regions banker. But at the same time, we have credit policy. We have underwriting guidelines. We've got cash flow ratios. We've got credit history that has to be checked. And I will just pour my heart out and go, it is hurting me that I can't give you a yes on this. But let me help massage this situation by -- let's figure out what some alternatives are. Let's -- if there's a credit issue, how can we work together to get that number up, so the next time you will get a loan. I've been in that room with you.

You are a problem solver.

I don't think I've ever said no to you about anything but I think -- let me just say you're...

She absolutely knows how to deliver a no, but you are a problem solver. And you have other recommendations.

Right. And the beauty about having a team such as we have with the Women in Wealth program is that, I have -- I can be a solid generalist, right? Yes, I have my Series 7 license. Yes, I have my insurance license. But guess what? I also have a portfolio manager, and all he or she does all day long is looks at that portfolio. I also have a trust adviser who is an attorney, who he is going to guide my clients with their estate planning. Do I need to know every type of charitable remainder trust and all the nuances of estate planning? No. I've got a seasoned team member, and that's where he comes in. So I just -- I love the solutions that we have and that it's not just on me, just like at CMT, you're not -- well, you're over a whole lot of the experts...

I have an amazing team. I'll put that out there right now. They're incredible.

You have people. We are blessed with amazing team. All right. Well, I want to now transition. We're hinting on a little bit of the financial aspect, but this event is part of the Women in Wealth initiative, as I've already mentioned, right? And I was reading one of the statistics that women are already controlling like $10 trillion of the money in our world, and that number is like that's 33% and going up. There's a huge transfer of wealth happening. Some of this may be happening within families you know or your own family, where there was a grandfather or a grandparent that had a company, and now they have passed away and now it's going down through generations. So that number for women managing wealth is ever growing. And so Leslie, when I think about the fact that you and I have been doing what we do close to 4 decades, which is phenomenal because we both feel 25, right?

It's true.

Fist bump. Sorry. But anyway, I know one of the tools that we've talked about in retirement planning is the 401(k), which is a great planning tool. Now do you have thoughts, anything you want to share in that lane?

I do. And I didn't want to bring up when I was in my 20s I knew nothing about finance. I probably never paid my bills on time. And then that all changed when I met my husband in my 30s and it became very evident to me that, oh, wow, there's this 401(k) thing. But I worked for a company for 17 years, a small company called Susquehanna. They owned [ Thought Craft ] China, and they were a small radio group. And they had...