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When Carol Powell entered the stock brokerage business
20 years ago, she found herself immersed in a business world dominated
by men. Today, she stands near the top of that world, a highly
regarded financial analyst, successful in her own right.
Carol Powell
"Women definitely have come a long way in this
business and we've struggled really hard," said Powell, an
investment representative in the Pinecrest office of Young Stovall
& Co., 9627 Pinecrest Parkway (So. Dixie Highway). "There are
still a lot more men in this field than there are women, but it's
changing rapidly."
Powell candidly admits that she fought her way up the
ladder in a business where men gave no quarter because of gender
"When I started out, I didn't come into the
business with a book of contacts like many do," she said.
"So, I struggled, I really used my character and my finesse to
get my name out in the industry. I had to build my book slowly and
after 20 years, I think I'm doing really well."
Very well, indeed. Today, she has a solid book of
clients scattered across the United States.
"I deal with so many clients," she said.
"I have one who calls me from Hawaii and he's an example of
someone who won't go online (to trade) because he has me online."
Powell, born in St. Louis, came to Miami at age 13,
graduated Southwest High School in 1969 and attended Miami-Dade
Community College. She began her professional life in real estate and
worked with several firms before landing a job with Continental
Mortgage Investors, which managed a large commercial property.
"The job was most exciting for me," Powell
recalled. "I became involved with the investment of the money
that was left at the end of the day. I would move the money around
between banks and try to find the best rates for overnight investment.
That's when I decided that I wanted to go into that type of field,
investing."
Powell soon joined the big brokerage firm of Merrill
Lynch, where she remained for 12 years, only departing in 1993 to
accept a position of more responsibility with Investment Management
and Research, a division of the Raymond James Co.
"I had some great opportunities there, learned a
lot and was able to develop myself," she said.
The responsibilities of raising three daughters as a
single mother dictated that Powell find a less demanding schedule and
Young Stovall & Co. offered a
compatible arrangement. Powell joined the firm four years ago and agrees
that it was an excellent move.
"We give you (the client) the most 'bang' for the buck," she said
of the company. "Our commissions are about a third of what you would
pay at another brokerage firm or the big wire houses. On 100 shares of a $10
stock, for example, the commission would be $35."
Asked what she thinks of the current internet trading frenzy where a trade
can be made for as little as $8, Powell said you get what you pay for.
"I think I give a client more than $8 worth of service," she said.
"I believe that what keeps our clients coming back is the effort that
we make. It's not just the trade; it's the client that we care about. I do
most of the research that maybe my doctor client or my attorney client
doesn't have time to do. While they're conducting their business and making
money, I try to do the research that helps them invest their money."
Powell resides in the Kendall area with daughters Lauren, 14, and Deanna,
12. She is engaged to the well-known, Miami-based New York Times sports
writer Charlie Nobles.
"A wonderful man I've known for many years," she said. "We've
had a friendship that developed into a love-ship. But, we're taking our
time. We're enjoying the courtship and there's no immediate wedding date
planned."
And, when she does marry?
"I plan to continue to work in the brokerage business," she said.
"I like it a lot. It's very exciting to me, the thrill of the trade and
watching it go through, then being there for the client."
For more information on Young Stovall & Co., please call 305-666-2511.
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