Name: Amy Li
Firm: Morgan Stanley Wealth Management
Location: San Francisco, CA
AUM: $905 million
Forbes Rankings: Top Next-Gen Wealth Advisors Best-in-State, Best-In-State Wealth Advisors, Best-In-State Women Advisors
Background: Born and raised in China, Amy Li grew up in a family of bankers. “Rates and stocks were not new to me,” she jokes. Li attended business school in Beijing before transferring to Ohio State University in 2008, where she majored in accounting and finance. In 2012, she got her business degree from Wharton and took a job as an auditor at Moss Adams. She moved into an accounting role shortly after, then worked as an analyst at a boutique bond shop before joining Morgan Stanley in 2016.
Building Relationships: As a solo practitioner, Li quickly built a large book of business consisting of global entrepreneurs, many from Asia. While she works with a lot of tax professionals, executives, venture capitalists and family offices—her clients all have cross border interests. A typical client might be someone with an Australian passport, primary residence in Hong Kong, business in Shanghai and a planned IPO in the United States, for example. “It’s a lot of moving parts, but I like solving those puzzles,” says Li, who is fluent in Mandarin and English. “My niche is to provide sophisticated and holistic wealth management solutions that include legal structures, tax planning and international banking.”
Competitive Edge: Li says her diverse background and familiarity with both the American and Chinese financial systems is key for her clients, who often have to deal with numerous lawyers, accountants and other specialists from all over. “I’m that perfect bridge—from the cultural standpoint of knowing both systems—to help my clients navigate the landscape,” says Li. “Many of them hear a lot of different advice but I’m the one who can combine the advice into a simple solution,” she says.
Investment Philosophy/Strategy: Li likes to focus on holistic planning because tax liabilities are the biggest expense for most of her clients. “I like to minimize tax liability,” she says. “Before even putting a portfolio in place, I first work with a client’s tax advisors to formulate an efficient strategy.” Most of her clients are big fans of alternative investments like private equity, real estate and private credit, typically making up 15 to 30% of their portfolio—though some family offices that Li works with invest exclusively in alternatives.
Market Outlook: Li expects one or two Fed rate cuts before the end of the year. “The cost of capital will never go back to pre-Covid times,” says Li. “Long term rates will be higher than people are used to in recent times.”
Best Advice: “Make complicated things simple and be patient,” says Li, when thinking back to the start of her career. “Go above and beyond with your clients and have compassion—that’s the only way you build loyalty and long term trust.”
Off The Clock: Li is a classically trained violinist: She still plays and even does some composing. “It’s very similar to how I approach wealth management,” says Li, citing how she likes pulling together different elements of a financial plan, like melodies, into perfect harmony. An avid enthusiast of classical music, she attends numerous symphony concerts and ballets. Outside of the office, Li enjoys golfing and spending time with her Border Collie. Her favorite movie is The Pursuit of Happiness, which she says was inspiring because it perfectly captures what life was like as a young financial advisor.
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