Olivia Summerhill, the founder of Summerhill Wealth Management, works exclusively with affluent women, protecting their lifestyle throughout the divorce process. Olivia works closely with her clients’ divorce mediators to negotiate the most advantageous settlements.
After the divorce finalization, Olivia uses her knowledge of behavioral finance to work with her clients on topics relating to a divorce’s impact. Specifically, on psychological behaviors such as self-awareness, money patterns, and effective financial decision-making, her female clients can control and maintain their living standards.
Olivia is one of few financial professionals to hold Certified Financial Planner, Certified Divorce Financial Analyst, and Behavioral Financial Advising credentials.
Where did the idea for Summerhill Wealth Management come from?
After numerous women came to me for help with financial plans post-divorce, I realized they needed someone in the financial field to help them during the divorce process. They needed someone to prepare them for the real world when they were on their own financially post-divorce. They also needed someone to be their financial ally and powerhouse, so they did not get taken advantage of during the divorce process. I did my research and discovered that nobody was indeed doing this niche in the financial industry. I focused on ultra-high net worth women because I can relate, make them feel comfortable, and am good at understanding their complex needs.
What does your typical day look like and how do you make it productive?
I focus on what matters and stay productive by being proactive with my time daily. I always make the workday productive by keeping all distractions on low or off and have found it calming to keep them off during the weekends.
Every day, I wake up at 4 am to work out and eat a healthy breakfast. Then I fill out my gratitude journal and read around 30 minutes on a business topic. About 8 am, I look at my day and focus on work in my home office. I take short breaks often, use a stand-up desk, always have lunch, and take time to walk the dog. I typically work until 4 pm and then have a volunteer or board meeting in the evening. I usually eat around 6 pm and am in bed by 8:30 pm.
How do you bring ideas to life?
I bring them to life by taking action on the idea. For example, recently, I was running and thought about how fun it would be to start a charity that raised money while I was running. I researched and talked with the right people and now am collaborating with Ironman Foundation. Every dollar I raise while training for my first Ironman goes directly to Savvy Ladies, a non-profit that has financial resources for women. Having that idea and taking action allowed me to incorporate my personal and business brand.
What’s one trend that excites you?
Working remotely and virtually connecting! I have been using video conferences for a few years and working remotely on and off for years. Glad that everyone else is seeing it as standard.
What is one habit of yours that makes you more productive as an entrepreneur?
Getting up early and not making any excuses for going to bed early. I wake refreshed and avoid making bad choices at night when my willpower is low.
What advice would you give your younger self?
Never think that being so driven and unique compared to your peers is a bad thing.
Tell us something that’s true that almost nobody agrees with you on.
Financial planning is simple, and everyone can quickly grasp it if they start slow.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Be selfish with your time. Even when I am giving my time away, I always volunteer my time to causes I care about deeply.
What is one strategy that has helped you grow your business?
Sticking with my brand and not taking on business unless it was a good fit. If someone comes to me looking for financial investment advice, I will refer them to a financial advisor. I only focus on finances within high net worth women and divorce.
What is one failure you had as an entrepreneur, and how did you overcome it?
I did not know how to create a website and market my brand using social media. I overcame it by reading as much as I could on the subject, interviewing plenty of firms that could help and comparing what they said, and going with my gut. Sometimes you have to spend money on something you do not know, and sometimes it is best to learn and do it yourself. I eventually hired a marketing firm to help but knew a great deal about the topic, which lead to making informed marketing decisions.
What is one business idea that you’re willing to give away to our readers?
Creating a stroller that does not need you to push, it will automatically register you slowing down or speeding up.
What is the best $100 you recently spent? What and why?
Yesterday I bought a few new books on habits, success principles, and business. I will never know enough and always am looking for what others have done better!
What is one piece of software or a web service that helps you be productive?
Grammarly software allows me to quickly check my emails, newsletters, interviews, and more for grammatical mistakes. It automatically is connected to my email, and I run everything else through the app to make sure I am keeping my punctuation and wording in check.
What is the one book that you recommend our community should read and why?
Jack Canfield’s Success Principles book is all about not making excuses, taking 100% responsibility for your actions, and never giving up. Everyone should read this to learn more about themselves and how they can improve their life, no matter where they are financially or emotionally.
What is your favorite quote?
Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing. -Denis Waitley.
- Be selfish with your time
- Stick with your brand
- Get up early
- Do not make excuses
- Learn from others
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.