That's what it came down to in 1980. Holzer took a job in Los Angeles as a receptionist for Oppenheimer & Company, the giant financial concern. But executives there quickly recognized her savvy skills--not to mention her stellar academic credentials from Northwestern University--and helped Holzer get onto the floor of the bond industry. But the receptionist job was supposed to be a temporary gig; she came to LA to be an actress.
Choosing the Right Role Holzer was good enough to land a supporting role in a Nick Nolte movie. That's when she had to make a gutsy choice: say "no thanks" to Hollywood and focus upon a new career path. "It was a good speaking role," Holzer recalls. "My agent was going to kill me. But I had already developed a passion for the municipal bond industry."
If she seems at ease on camera, that's because she used to make her living in front of it. Holzer grew up in Chicago, where her late father was a judge and her mother managed an insurance office. When she was four, Holzer went to watch her sister audition for a role in "The Sound of Music." But Bambi struck the fancy of the casting director, so she landed the part of Gretl, the youngest Von Trapp.
From that point on, Holzer emerged as one of Chicago's most in-demand young talents. She acted in the professional theater with Mickey Rooney and Rita Moreno. "I was in every musical you can imagine," she recalls. "If there was a kid part, I was in it." When it came time for college, studying acting at Northwestern University made a lot of sense. But her parents, even after graduation, remained firm. "They gave me six months to make it or break it in Hollywood," Holzer says. "I moved in with my cousins for a few weeks. My agent in Chicago recommended an agent in LA. I got a lot of commercials. I was a Pizza Hut girl when personal pan pizzas came out. There was Kodak and Big Red chewing gum. But in Chicago, I didn't even have to audition because directors and producers knew me. In Hollywood, I was a complete unknown. It was very competitive."
Striking It Rich The infamous Screen Actors Guild strike struck in 1980, and Holzer was in need of a job. She was more than qualified to be a receptionist at Oppenheimer and, before long, picked up on more exciting parts of the business. "I didn't even know what a municipal bond was," she remembers, "much less anything about municipal bond trading. But I loved it. Two traders left for a week-long vacation to go fishing, and I had to handle the whole California municipal bond division by myself."
With encouragement from Oppenheimer staff, she began to serve as a liaison between brokers and the trading desk. She was perceptive enough to spot an emerging trend, but there were aspects of investing that bothered her. "I couldn't sleep at night," she says, "thinking that I had lost a lot of money for people who bought 100 shares of a company and it lost value overnight. I didn't have the stomach for that." She saw how IRAs, 401k plans, and similar savings-encouragement programs would dominate in the future. In those days, most people then were setting up IRAs in banks, Holzer noticed. Mutual funds provided a much better, interest-generating model, and she skillfully established a niche in this relatively uncharted industry segment.
"I'd spend hours with clients telling them what exactly a mutual fund was," Holzer says. "I discovered that no one else was doing 401k [plans], and I ended up knowing more about them than any of the other brokers. It turned out to be a perfect fit for me." By 1984, she compiled hundreds of clients--medical groups, law firms, professional associates, and other business-to-business relationships--and managed millions of dollars in accounts. She quickly rose to the most elite level of executives.
And, in part, she can thank her acting background. For starters, her improvisational skills translate well into "think fast on your feet" corporate demands. Of course, she's a regular pro on TV programs. "It's great to be in front of a camera today," she laughs, "talking about something other than personal pan pizzas."
Top Billing Holzer still maintains the same investment MO, even in light of a topsy-turvy financial outlook on Wall Street. "My mission is to help people empower themselves when it comes to their futures," Holzer says. "It's a brave new world out there with all kinds of industries. But my advice to clients is not to get carried away with the high-flying companies. Look at the long-term. Allocate your assets prudently and diversify."
For those just starting out in her industry, Holzer feels that finding the right mentor is key. Scout out someone you admire and try to pick their brains over coffee, lunch, or 15-minute bull sessions. "If you approach people with respect and courtesy," she says, "and indicate that you'd like to glean knowledge from them, that's how good relationships start."
