In this edition of our “First in Finance” series, Sapere Aude student intern, Nana Hayrumyan, sat down with Holly Framsted, Head of Global Product Strategy and Development at Capital Group. Holly’s journey from studying psychology at UCLA to her current role is a testament to how diverse paths can lead to fulfilling careers. As a first-generation college student, Holly’s background gave her a unique perspective on navigating uncharted career territory. In this interview, she shares how her early interest in solving complex psychological puzzles translated into her passion for product strategy, the challenges she has faced as a woman in finance, and the importance of mentorship in shaping her career. Her insights are particularly relevant to first-generation professionals, as she speaks to the importance of discovering opportunities beyond familiar horizons.
Q: Before we begin, could you give us a brief introduction of your background and who you are?
A: I grew up in Southern California and attended UCLA, where I studied psychology with the initial thought of joining the FBI. As a first-generation college student, my father worked for the Southern California Gas Company, and my mother was a teacher’s aide. Although I had a general awareness of the world growing up, I didn’t fully understand all the different career paths available to me. My first job out of college introduced me to the finance industry, and I’ve been dedicated to it ever since. I have been with Capital Group for the past three years, and before that, I spent around 16 years at BlackRock. In my career, I focused mainly on product development and strategy, and before that, I was a portfolio manager. I believe strongly in the idea that sometimes you only discover opportunities once you’re out in the world, and that’s perfectly fine.
Q: Can you share your journey into the finance industry and how being a first-generation professional has shaped your perspective?
A: Being a first-generation professional, I realized that there were many opportunities beyond what I was exposed to at home. When I went to UCLA, I studied psychology with the aim of becoming a forensic psychologist, and I took a lot of criminology classes. I wanted to come in after a crime had been committed, piece together the puzzle, and figure out what happened. I was driven by understanding what could lead someone to commit a crime, something that might not be clear to the average person.
During college and through my internships, I discovered that it wasn’t as easy as stepping into a forensic role—typically you would first spend time as a law enforcement agent before becoming a crime scene investigator. Realizing that I didn’t want to pursue a career in law enforcement left me uncertain about my next steps. It typically requires further education like a master’s or PhD to work professionally in the field of psychology, and I wasn’t interested in going back to school right away; I considered applying what I had learned in a different context.
I moved to Boston, a city I had always wanted to live in, and got my first job as a receptionist at a private equity firm through a staffing agency. It was there that I discovered a whole world of investing and finance that I had never been exposed to. I spent my free time exploring Investopedia and realized that finance also involved a lot of the puzzle-solving, which I enjoyed. This realization allowed me to connect my passion for solving complex problems with an industry I hadn’t previously considered. I’ve been in finance ever since.
It’s important to have confidence in specific situations by knowing why you’re there and what you contribute.
Q: What challenges, if any, have you encountered as a woman in finance, and how have your experiences shaped your approach to your work?
A: In finance, some challenges are specific to gender, while others can affect anyone. Different areas within finance have varied diversity challenges. For instance, being on an investment team might present different gender dynamics compared to a marketing role, each with its own set of diversity issues. Given that statistically fewer women study math and sciences, there tends to be a gender imbalance in financial services, in both the education pipeline and the workforce, which can impact recruiting and diversity in roles.
There also often seems to be an unspoken premium on extraversion in this industry. The ability to clearly articulate oneself is closely linked to confidence and extroverted traits. Understanding who I am and the value I bring has been crucial. It’s important to have confidence in specific situations by knowing why you’re there and what you contribute. I find myself sitting right in the middle on the introvert-extrovert spectrum, able to turn on the extroverted side when needed, though I know my limits. For example, I know I need to recharge after a lot of social activity, as i can be draining for me. Identifying roles where you can thrive based on your personality and how you show up is key to building a successful career.
Moreover, it’s vital to understand that you can be successful in whatever role you choose by recognizing what it takes to succeed and delivering on those requirements. Sometimes, this means navigating environments where you might be the youngest on the leadership team or the only female in a male-dominated room, where team-building activities might not align with your interests. It’s about finding ways to fit in and recognize the culture you’re becoming part of while staying true to who you are.
What excites me about my current role is the opportunity to be forward-focused, analyzing trends, and determining where the industry is going and how our firm can respond.
Q: What aspects of your current role at Capital Group as the Head of Global Product Strategy and Development do you enjoy the most and find most interesting? How were these aspects different from your previous positions?
A: At one point in my career, I was working on the portfolio management desk when a former boss approached me about joining his product strategy team. At the time, I questioned why he thought I was suitable for this role, as it seemed quite different from what I was doing. He described a set of character traits and inclinations that I demonstrated in my current role, which he believed would be highly useful as a product strategist. These traits included being forward-focused, tracking trends, and anticipating future needs. As a portfolio manager, I was constantly figuring out how to adapt our team’s approach to meet future demands. It turns out these skills are highly applicable to product development and strategy, where problems are often less clearly defined than in portfolio management.
I realized that much like in psychology, I enjoy being presented with complex problems and simplifying them. I like identifying the most critical elements, understanding what needs to be done differently, solving the puzzle, and explaining the solution to others. This process is very similar to what excited me about the job I was considering with the FBI.
What excites me about my current role is the opportunity to be forward-focused, analyzing trends, and determining where the industry is going and how our firm can respond. I often work on challenging projects that require innovative solutions, which is different from roles centered on optimizing processes and driving efficiency. Both approaches can be successful, but the thrill of solving complex challenges that can bring change to the firm, or the industry is what makes me passionate about product strategy and development.
…be humble and recognize that everyone needs help. Every company and every problem can be tackled more effectively if we acknowledge that we don’t have all the answers all the time.
Q: Have you found any mentors or support systems within or outside the industry that have helped you respond to the very challenging demands of your work?
A: Early in my career, I attended many seminars where people emphasized the importance of mentors, sponsors, and a board of advisors—individuals you turn to for different types of advice. Initially, this all felt quite opaque to me, and I struggled to understand how to cultivate relationships with the senior professionals who could offer that guidance.
In reality, these relationships often develop organically throughout your career. You seek advice from people, and they offer guidance if they know you, understand how you operate, and are aware of the challenges you’re facing. Early in your career, it’s beneficial to cultivate good relationships with your manager or someone senior who can provide early guidance. Additionally, identify individuals who excel in areas where you need improvement. For example, if you want to enhance your public speaking skills, find someone who is particularly good at that and practice with them. If you need to solve a problem and don’t know whom to contact, identify someone who seems to always know the right person to call. Having a go-to person for advice on whom to reach out to can be very helpful.
Secondly, stay close to your peers. I found that in my previous companies, the analyst classes we brought in ended up being the most connected because they onboarded and educated together before dispersing to various parts of the company. These connections can be incredibly valuable, so leverage those early relationships with your peers. They can also enhance your value to your manager, potentially leading to a stronger relationship with them.
Finally, be humble and recognize that everyone needs help. Every company and every problem can be tackled more effectively if we acknowledge that we don’t have all the answers all the time. By asking questions and seeking help, you will build meaningful relationships and develop a strong network of support over the years.
Q: Who or what are you inspired by?
A: I am inspired by my family. Growing up as a first-generation college student in a working-class household, I deeply appreciate the sacrifices my parents made to provide me with opportunities. Their efforts are a constant source of inspiration for me, and I am motivated to repay that by giving back to them and ensuring my children have the best opportunities as well.
One particular lesson from my father stands out. As one of two daughters, my father took it upon himself to teach me practical skills like changing the tires and the oil of the car. His goal was to ensure that my sister and I could take care of ourselves and handle challenges in life. Now, as I think about my own two daughters, I want them to realize that they can be anything they want to be and that there is no industry that is not available to them because they happen to be female. It’s important to me that they discover their passions and engage in work they are excited about. Recognizing the importance of family as a source of inspiration drives me to optimize my time in alignment with these principles.
Recognizing the importance of family as a source of inspiration drives me to optimize my time in alignment with these principles.
Holly Framsted’s story is an inspiring reminder of the power of adaptability, resilience, and embracing the unexpected. Her journey from psychology student to finance demonstrates that career paths don’t have to be linear, and that a passion for problem-solving can open doors in unexpected places. Holly has been a guest presenter to our students, where she shared her remarkable career journey and encouraged our students to pursue varied opportunities, particularly in investment and wealth management. Her advice on finding mentors, fostering peer relationships, and staying true to oneself while navigating industry challenges resonates deeply, especially with first-generation professionals looking to forge their own paths in finance.
Thank you, Holly, for sharing your journey and insights, and for supporting our program and first-generation students with your wisdom and experience!