As a market executive, Lauren Murray leads the Merrill business—the investment management and wealth management division of Bank of America—across Eastern Washington, Idaho, and Montana. She supports more than 65 advisers and 45 associates who oversee client balances of approximately $13 billion and ensures her team has the resources they need to support their clients each and every day.

Lauren took this role in July 2023, moving from Seattle with her husband, Alex, and 18-month-old son, Aiden. She lives in Liberty Lake and enjoys traveling, checking out local restaurants, and taking advantage of all the outdoor activities the Pacific Northwest has to offer. She also sits on the board of directors for the Women & Children's Free Restaurant & Community Kitchen and is committed to its mission of being a vital safety net that fills nutritional gaps for women and children in need while fostering dignity and respect in in the local Spokane area. 

As a woman in a leadership role, Murray is sharing her thoughts on investing trends and developments in the workplace in finance and beyond in a conversation with colleague Sara Desautel, Bank of America’s Spokane/Boise market executive.

 Desautel: What are some trends you have observed in how women are investing?

Murray: Did you know that 75% of women under 45 now manage their own finances? Women are increasingly taking charge of their financial futures, showing growing confidence in managing their investments compared to previous years. According to one of our recent studies, 53% of women now feel confident managing their investments, up from 49% in 2018.

In our market, we see people taking advantage of two core options when investing: doing it themselves through a self-directed digital platform, or more popular among our female investors, working with a financial adviser through a dedicated financial plan and investment approach based on their short- and long-term goals. An important piece of this is finding an adviser who is a good personal fit.

 How are you seeing the finance industry evolve to be more inclusive?

While the industry has come a long way over the years, women are still more likely to experience unconscious bias and negative gender stereotypes. I am seeing significant progress in hiring a more diverse workforce that is more reflective of investors, and increased attention to training all our advisers on ways to mitigate bias.

Seeing more women in leadership in finance is also helping to shift this narrative. I am encouraged by the progress I have been seeing year over year.

 How does our employer support female leadership and development?

Bank of America prioritizes investing in women, understanding that their success benefits families, communities, and economies.

I encourage all employers to think about recruiting and retaining strong female talent and prioritizing benefits that are crucial for many women in the workforce, such as family planning, parental leave, and caregiving options.

Personally, I have gone through many personal changes in a short amount of time, and (leaders) have encouraged me to continue to lean in. In 2021, I had my son, took my full parental leave, and came back not missing a beat because of the support I received to get back up and running. My leave had no negative impact on full-time selection and placement into my role, and the support I have received along the way has been incredible.

 What is one piece of advice you have on advocating for yourself in the workplace?

Understanding the value you bring to the table is critical, as is being able to tell your story and articulate that value to key stakeholders as you continue to develop your career. One way you can do this is ensuring you have the right network within the workplace of individuals who understand your value and are willing to advocate for you, even if you are not in the room—taking mentorship one step further. Seek advocates, not just mentors and share your accomplishments and wins with them regularly.