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FINANCE: Laila Pence honored by native country
Egypt turned for financial advice to one of Orange County's top wealth managers- Pence Wealth Management co-founder Laila Pence.
When she attended a conference in July, she spoke with key ministers overseeing the capital markets, providing All-American advice, such as encouraging 401(k)-style plans and stock ownership for employees.
"People work a lot better when they are owners," Pence said. "The ministers did want to know my views."
The visit was one of several recent honors for the Egyptian-born investor, who received a Business Journal Women in Business award in 2012. Barron's continues to rank her highly on a variety of lists, including as No. 10 on this year's Top 100 Women Advisors in the U.S. Arabic lifestyle magazine Enigma this month gave her an excellence in business award during a ceremony in Beverly Hills.
Most importantly, her firm is growing its assets about 20% annually to $1.3 billion, which is more than double the $550 million it reported in 2010. It now has 30 employees and has expanded to offices in Torrance, Thousand Oaks and Livonia, Mich.
While compliance rules prevent her from advertising the rate of return, Pence noted that money inflows can be a proxy because customers are pleased with the results.
"We've had great returns."
During an interview in its eighth floor office in Newport Beach, she and Dryden Pence, her husband and co-founder, discussed the company's method for investing, how their advice has changed in recent years, and of course Egypt.
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Laila Pence fled Egypt at age 12 with her mother after her...