Top Women in WealthTech 2020: Allison Couch Pratt of Advisor Group

All of us, women and men, need to stop thinking of "technology" as a separate discipline or siloed "department." For other women in the industry, don't think that if you don't have a computer science degree you are not qualified to influence technology innovation.

Most technology professionals have not had the opportunity to sit in an advisor's office across the desk from the client. My team has, just as many other female professionals in the industry have. You can help translate advisors' needs into business requirements. We all own technology.

Advice for those starting out: One, take more informed risks. One of my only regrets is that I was too cautious early on in my career. I was 10 years in before I had the confidence to really step out of my comfort zone and go for a role that made me think, "Wow, I might be over my skis."

Two, hire a coach. Three years ago I had the opportunity to work with an executive coach. I approached the engagement somewhat reluctantly, but I decided if I was going to do it — I was going to be all in. Candidly, at times it felt like therapy, but I learned one of the most important lessons of my career — leadership is about influence, it's not about the title on your business card.

What a release that was. It gave me permission to stretch within my current role and not always have my eyes on "what's next." Sometimes the most important lessons to be learned, the skills that you need to develop the most — are the ones that are right where you are at that moment.

Three, do not underestimate the importance of balance. This is not a 9-to-5 industry. We all work countless nights and weekends. Make balance a priority — exercise, spend time with your family, take that vacation you keep talking about. This industry has had some tragic losses in the past year; don't leave this world with regrets.

Sources of insights and inspiration: I'm an industry trade junky — I skim all of the online publications for topics that interest me — practice management, new products, regulatory updates, new technology — I love op-ed and thought leadership pieces.

For meaty insights — the Cerulli Reports and the Cerulli Edge. The MMI/Casey Quirk by Deloitte studies have been invaluable. We leveraged the data from their 2017 study "Investors First: Rebuilding the Advice Business around Client Needs" to inspire our thinking on how to prepare for the fiduciary era. In 2019 they delivered "Meet me in the Middle: The Intermediary of 2025," which affirmed our approach to Wealth Management.

For industry wisdom, I've been fortunate to work for one of our industry's pioneers twice in my career — Valerie Brown. I will always consider her a mentor, and attribute much of my professional growth to her teachings — and as she and I would joke, not all lessons learned are easy ones!