René Nourse | Founder | Urban Wealth Management Group CA

René Nourse CFP®

Founder / Chief Executive Officer,
Wealth Advisor

"After 25 years as a financial advisor in the corporate world, I left a major firm in June 2012 to launch Urban Wealth Management Group. Sensing that a shift was taking place in the financial services industry, my intention was to build a platform that focused on strategic financial planning alongside investment management to better serve clients. But it was my own personal experience, my mom’s challenges in her life, and her passing in 2017 that truly inspired me to focus the practice on supporting the needs of women.

The longer I was in the business, the more I realized that women were being overlooked and underserved. The fact is that the majority of financial advisors are men and don’t realize the importance of engaging the wives, significant others or even other female family members in the investment and financial guidance process. Women were not being serviced appropriately, so I initiated a platform to focus on the special needs of women.

My mom influenced me beginning at a very early age. After her marriage ended, she made the momentous decision to return to graduate school. Although she was a single mom to three children, all under the age of 10, she acquired her master's degree in Clinical Social Work. She was so dedicated to helping people who were experiencing physical and health issues. But working long hours, raising 3 kids, and not receiving an adequate amount of childcare benefits or income created financial stress. I remember multiple occasions when she had to drive quickly, rushing to the bank just minutes before it closed to deposit her paycheck. So cash flow was low, and I could see and feel it.

Whenever my siblings and I received money for our birthdays or Christmas gifts, from our grandparents or other family members, she encouraged us to save our money. I began working at age 13, providing tutorial services for elementary school students. My mom asked to borrow money from me periodically to pay for household expenses and always paid it back. So I was engaged in financial stress early on. Over time, that stopped when her income began to rise and my siblings and I began earning a little money part-time, which took care of some of our personal expenses.

In 2008, our mother was diagnosed with dementia, and my siblings and I stepped in to manage her finances. We discovered that she had set aside very little for her own future, despite encouraging her children to save. My mother was fortunate she had family — but how about other women? Will they be protected too?

There are many women out there who are strong, ambitious, and independent just like my mom — and yet have neglected to consider the risks of longevity and the importance of making good financial decisions today so that they can have a comfortable lifestyle tomorrow.

I’m honored to be a frequent guest speaker and contributor on the topic of women and finance, and also recognized as a trailblazer and financial expert. Given the horrific year we have experienced in 2020, now is a critical time to highlight the importance of helping women reach their financial goals, since women and women of color have been hit so hard by this pandemic. Our firm’s mission is to encourage and assist women to create the lifestyle they desire and deserve."