WHER Chat: Veteran-Owned & Women-Owned Businesses

WHER Chat: Veteran-Owned & Women-Owned Businesses

In honor of V-J Day, commemorating the end of World War II and the bravery of our veteran soldiers, NDILC member Erica Courtney, President of 2020vet and Zulu Time, U.S. Army Aviation, Major NATO Gender Advisor, highlights serious resource shortfalls for America’s women veterans face as entrepreneurs that the nation must be prepared to face in the near future in our 2020 NAWRB WHER, Volume III: Business Ownership.

Veteran women entrepreneurs possess traits that make them ideal business owners. Due to military training and knowledge, veterans are dependable, conditioned to make hard decisions, have integrity, take initiative and can adapt easily to challenging and evolving situations—all characteristics of a successful business owner. These women may see entrepreneurship as a means to prosper on their own terms by being their own boss.

This is a great time to be a woman veteran entrepreneur as we are the fastest-growing segment within the entrepreneurship community increasing by an astonishing 296 percent since 2007. Some of the reasons include a slight increase in women veterans; they are building businesses out of necessity; 40 percent of veterans are going into business for themselves as compared to the 10 percent Vietnam era entrepreneurs; more veterans have disability ratings than in wars past due to technology and better equipment; recent positive legislative changes; demand for third party corporate certification; and more available resources in terms of capital, education, and counseling.

It is important to note that despite the hurdles, veteran business owners have proven to be twice as successful in terms of revenue and business longevity, are twice as likely to hire other veterans, and contribute over $1.14T in sales receipts, $195B in annual payroll and employ over 5.03M employees. In 2012, veteran women-owned businesses were responsible for nearly 20 billion in receipts – an increase of 26.3 percent since 2007.

Veteran women continue to serve the United States by reinvesting and devoting themselves to the future, not through military service but through entrepreneurship. They are no stranger to hurdles and overcoming barriers as many dealt with this routinely while serving in a male-dominated profession. They are strong, smart, and driven, but we must understand specific challenges they face so we can help them be successful. 

Through entrepreneurship, many of the issues the community faces subside. Instead of masking the problem through medication prescribed at record rates, healthcare systems trying to keep up with a new demographic, and job placement programs in which the majority of veterans quit by year two, let’s put our efforts towards something that is working. It is not only a moral imperative that we take care of them but an economic one as well.

Find out more about NAWRB and how you can get involved and be a partner here!

About 2020 NAWRB WHER

The NAWRB Women Housing Ecosystem Report (WHER), our annual research report, provides the vision to revitalize communication and partnerships between industries as we work together to form mindful strategic solutions for social impact with a gender lens achievement. The 2020 NAWRB WHER includes the most diverse coverage of the Housing Ecosystem with almost eighty resources in six volumes: Diversity, Equity & Inclusion; Real Estate; Business Ownership; STEM; Access to Capital; and Aging Population. While waiting for the release of 2020 WHER, order a copy of the 2019 NAWRB WHER here!


Co-signed a private student loan? Here are tips to protect yourself during COVID-19

As the Coronavirus continues to affect the health of millions of Americans, it also continues to exacerbate the financial struggles that many individuals face during these times. It is critical for those with outstanding student loans to know their options when it comes to protecting themselves and their credit during the pandemic.

While the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides federal student borrowers with financial relief, many private student loan lenders are now offering reductions or suspending payments. As a borrower, it’s imperative to stay up-to-date on the status of your loan, to communicate with your primary borrower about requesting relief if applicable, and to check your credit reports. For more information and tips, you can check out this article by the Consumer Financial Protection Bureau.

FDIC Names Five New Members to Its Systemic Resolution Advisory Committee

As it is quite well known, the Great Depression that started in 1929 had a devastating toll on the American economy, people, and spirit. Because of this, Franklin D. Roosevelt signed the 1933 Glass-Seagall Act which created the Federal Deposit Insurance Corporation. Through this, a new government agency was born to maintain stability and foster public confidence in national banks by insuring depositors in the case of bank failures. Eighty-seven years later, the FDIC still strives to protect depositors by insuring $250,000 per individual.

In 2011, the FDIC created the Systemic Resolution Advisory Committee (SRAC) in order to provide the FDIC with resources and solutions to a variety of financial issues and companies. With 16 members, the SRAC strives to analyze how the FDIC’s authority under the Dodd-Frank Act of 2010 can impact covered individuals and more.

On July 23rd, the FDIC named five new members to the committee. In addition to the current eleven members of the SRAC, the five new members are Dr. Ben S. Bernanke, Gary Cohn, Hon. Robert Drain, Timothy J. Mayopoulos, and Sandie O’Conner. Committee members are chosen based on their wide range of experience in managing complex firms; administering bankruptcies; and working in the legal system, accounting field, and academia.

Click here to view the press release!

Globetrotting NAWRB & DC Finance’s 2019 Family Office Impact

DC Finance

For the past four years, Desirée Patno, CEO & President of NAWRB, has had the honor of representing a voice for the gender lens perspective in the real estate and housing ecosystem at several of the largest events for ultra high net worth individuals, family offices and investors across the globe with one of the world’s leading conference organizers, DC Finance (“DC” the initials of Founder Denny Chared). DC Finance was established over 15 years ago and today reaches over 3,000 families around the world who represent over $1 Trillion USD of assets. In Israel, DC Finance produces the largest institutional investment conference with an industry that manages over $1 Trillion worth of assets.

DC Finance is well known to partner investors with industry thought-leaders by having discerning requirements, unique standards and integrating important work. Desirée is proud and honored to bring passion, clarity, impact and connectivity globally with world-class leaders through multiple lenses and industries.


Sept 26th -Toronto,Canada
Toronto Real Estate Family Office & High Net Worth Conference

The Toronto Real Estate Family Office Meetings are a series of select new intimate meetings for up to 120 Ultra & High Net Worth Individuals and family offices representatives focused on investment in real estate. Held at different select venues each time, DC Finance brings cutting-edge investment ideas, analysis of the markets by its market leaders and a meeting place for select families and family office representatives sharing the same investment interest.

Overlooking the breathtaking views of the Toronto Islands and the Canadian coastline, Desirée spoke on the “Success Stories of Real Estate” Panel, alongside Qi Tang, Senior Vice President and Chief Financial Officer, RioCan Real Estate Investment Trust; Shenoor Jadavji, President & CEO, Lotus Capital Corp; and Diana Potapenko, Founder & CEO, Montgale Ventures Ltd,1 notably all women. Other interesting discussions on constructing one’s real estate portfolio, residential versus commercial investments, and U.S. market opportunities took center stage throughout the day.


Oct 29 – 30th – New York, NY
The East Coast Family Office & High Net Worth Conference; Family Office & High Net Worth Individuals Investment Day

The East Coast Family Office & High Net Worth Conference in New York City is DC Finance’s U.S.-based flagship conference. Attendees came from all over the globe, with most coming from the United States, United Kingdom, Israel and Switzerland. The flagship conference, moderated by Dale Jackson, Financial Markets Research, WABC Radio NYC, featured numerous interesting, high-calibre discussions about women disrupting the technology industry; the future of family office technology; preserving wealth with energy; how tech is revolutionizing the beauty industry; and much more. A notable keynote speaker, among many, was Daniel Saul Goldin, the 9th and longest-tenured Administrator of NASA, Founder, Cold Canyon AI, who was introduced by Mr. Jonathan Conrad, Chairman, CEO, Founder, AdmieMobile LLC.

Desirée hosted a Fireside Chat with Tal Kerret, President of Silverstein Properties Inc., about SilverTech Ventures, which is working to foster a community of successful technology entrepreneurs in New York City. As described on their website, Silvertech Ventures is an “accelerator and venture capital firm focused on helping entrepreneurs grow their companies by respecting the role of the CEO, helping with our network and experience, and most importantly, by being there when needed.” Silverstein Properties, Inc. is well-known as the developer of the World Trade Center. In early 2019, Desirée had the pleasure of receiving a personal tour of the buildings and learned the series of obstacles Silverstein Properties faced.

The next day, on Oct. 30th, Desirée participated in Family Office & High Net Worth Individuals Investment Day. Discussion topics included global macro economy; traditional and alternative investing such as investments in oil and gas, high tech, real estate and arts; legal and tax issues; personal and financial security; international trends and developments; family office governance; successfully managing family dynamics; accounting and tax strategies; and philanthropy.


Oct 31st -Dallas, TX
The Dallas Family Office & High Net Worth Conference

After two days in NYC, Desiree jetted off to Texas to join the Real Estate Panel with other industry experts at The Dallas Family Office & High Net Worth Conference at City Club Dallas. This was a formal discussion of the capital market trends and pricing for the Logistics industry across the United States. The Dallas event, attended by over 100 qualified families and family offices executives, brought together families seeking cutting edge education and enabled an exchange of knowledge and experience.

Desirée participated in the “Real Estate Panel – Logistics Capital Markets Trends and Investment,” a formal discussion of the capital market trends and the logistics industry across the U.S. She was joined by Moderator Josh McArtor, Managing Director, Eastdil Secured; Edward Griffin, President & CEO, Griffin Partners Inc; Joe B. (Jody) Thornton, Jr. President, JLL Capital Markets, Americas; Sean Dalfen, President & Chief Investment Officer, Dalfen Industrial; Tom Fishman, Executive Vice President, Acquisitions and Dispositions; Nick Cassavechia, Founder, Old House Capital; and Jeffory Blackard, CEO & President, Blackard Global Chairman, Global Council, NeoRetroism.2

The panel discussed the flow of foreign capital to U.S. commercial real estate debt and equity as a big supplier of capital to the family office space, and how that has been slowing due to currency swap costs to the U.S. Dollar. In terms of domestic capital flow, Desirée shared her knowledge of domestic pension funds in terms of their interest in equity and debt, as well as que levels. The panelists also shared their own personal preferences, such as what appears cheap or expensive to them, what areas they are avoiding, what areas or property types are attracting them at the moment and expected material improvements in the next year. This was an unusually large panel that was predominantly male, so Desirée wanted to make sure that at least one woman was at the helm.


Nov 5th -Toronto, Canada
Toronto Real Estate Family Office & High Net Worth Conference

This conference covered a plethora of topics such as next generation issues, estate planning, family business, philanthropy, leadership, innovation, investments, arts and many additional topics at another high tier event with the DC Finance high standards signature.

Key speakers included Philippe de Gaspe Beaubien III, a serial entrepreneur who has established numerous start-ups over the last two decades and is currently helping 14 companies scale their business; Mitchell Goldhar, Founder & Executive Chairman of SmartCentres REIT; and Tal Kerret, President of Silverstein Properties, who discusses prime U.S. real estate opportunities.

Denny Chared, Founder & CEO of DC Finance, hosted a Fireside chat with Tal Kerret. Denny started his career as a financial journalist and Wall Street Editor for Globes Business Magazine. “Tal and I had a heart-to-heart fireside chat discussion where I had the pleasure of interviewing my friend, supporteer, a leading business man and President of Silverstein Properties,” stated Denny Chared about their conversation. “We both learned new things about each other in an exciting, open conversation. It went thirty minutes longer than planned!”


Dec 3rd -South Beach, Fl
Florida Family Office & Wealth Management Conference

In the heart of one of the world’s most important art happenings, South Beach, Florida, DC Finance hosted its sixth highly praised US wealth management conference, alongside Art Basel with a week of luxury events dedicated to their guests, on December 3rd, 2019. While half of attendees are from Florida, a good portion come from New York, Israel and several other regions across the globe. Desirée, the Master of Ceremonies, brought excitement and impact to the event with storytelling, vision and passion, which helped create deeper relationships among the participants.

Notable speakers included Francis Suarez, Mayor of the City of Miami a presenter since day one; Deborah L. Wince-Smith, President & CEO, Council on Competitiveness; and Tim Gannon, Co-Founder, Outback Steakhouse. With Desirée as Moderator for the “Opportunity Zone & Real Estate Developments,” panelists included Spencer Gray, President, Gray Capital; Blake S. Fogel, 2nd Generation Family Member and President, Fogel Real Estate.

A fireside chat titled “Art & Culture and the Detroit Renaissance!” featured special guests Barry Johnson, Executive Advisor to the Gilbert Family Office; Jennifer Gilbert, Founder & Chairwoman, POPHOUSE; and her son, Grant Gilbert, Student & Special Projects Director, The Cleveland Cavaliers. Jennifer’s husband, Dan Gilbert, is a well-known American businessman, investor, and philanthropist who is the Co-Founder of Quicken Loans, Founder of Rock Ventures and Owner of the National Basketball Association’s Cleveland Cavaliers.
All in all, these multiple events within the Family Office and Real Estate community demonstrate how vast and varied the economic ecosystem is, and how it touches many industries and countries around the world. World financial leaders came together to discuss pressing issues and recommend innovative solutions for intergenerational wealth transfer, navigating new tax laws, opportunity zones, human trafficking, real estate investments, philanthropy and so much more. Moreover, NAWRB was at the heart of these game changing discussions, contributing a gender lens so that those in power can create even greater social impact by leveraging resources.

“Thank you Denny and to the DC Finance Team for having NAWRB partner at these influential events for family offices and ultra high net worth individuals for nearly four years to share and leverage resources especially with a gender lens within the economic ecosystem,” states Desirée Patno. “I am proud to be part of DC Finance’s Steering Committee and look forward to the great expansion in 2020.”

“I am excited to have one of the most energetic women in the real estate space I have met on our stages,” stated Denny Chared about Desirée Patno. “I appreciate the collaboration, support and help bringing exciting panels that were presented to hundreds of family offices and high net worth family members all across the United States and Canada. I hope that in 2020 we will continue to do this across the globe including Israel and London, and our new destinations of Chicago, Montreal and Vancouver.”


Kathy Kraninger Narrowly Approved by Senate Banking Committee in Split Party Vote


In her journey to become the next Director of the Consumer Financial Protection Bureau, Kathy Kraninger must win over the Senate. If the recent vote by the Senate Banking Committee is any indication of how that might go, it might end up in a narrow confirmation along party lines.

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Who is Freddie Mac Today?

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Often in the industry, when we think of the forty-eight-year-old Government Sponsored Entity The Federal Home Loan Mortgage Corporation, otherwise known as Freddie Mac, we think: “I’d love to be an REO broker with them” or “I’d love to be in a vendor relationship with them.” However, as we discovered in our “Who is Freddie Mac Today?” presentation, the GSE is way more than meets the eye, staying on the young side of forty-eight with an eye toward innovation and staying current.   Continue reading

Elder Financial Abuse is on the Rise: Why This Matters to You


Over thirty billion dollars a year is estimated to be lost annually due to elder financial abuse, fraud or scams. Elder fraud is a growing problem, leaving destroyed relationships and economic destruction in its wake. This number is likely higher as according to the National Adult Protective Services Association, only one in about forty-four cases is reported. 

Words like “elder” or “elderly” conjure up images of a frail and delicate senior citizen benignly rocking away on the front porch. While it is true that seniors who are most physically vulnerable and who may have cognitive issues are mainly at risk, financial abuse can happen even to people on the younger side of senior: those who are successful, financially savvy and socially connected. 
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Unspoken Issues Impacting Women: Poverty, Health, Sexual Exploitation and Self-Confidence


From its title alone, you can tell this panel was a little different from the others. Wide-ranging in scope, yet narrow in its focus on issues that derail women from advancing in life, the conversations held on stage focused on topics people are sometimes uncomfortable talking about including sexual exploitation and poverty.

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mPower: Addressing Workplace Disruptors

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For the first time at a NAWRB Conference, mPower (Mortgage Banker’s Association Promoting Opportunities for Women to Extend their Reach) presented a panel, kicking off our Year of Women with style and substance.

NAWRB President and CEO, Desirée Patno introduced MBA COO and Founder of mPower Marcia Davies noting “This is the first time we have had a collective group of women and men from all different industries and this panel is the first time we have had MBA be a part of us.”

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