Staffing & Culture | 10.10.23
BISA’s Awards Committee: A Conversation With Frank Consalo
by: BISA Staff & Frank Consalo
Each year, BISA’s Awards Committee recognizes member firms and individuals for their commitment to the industry and to key industry values, including DE&I and technology. The ammunition behind these awards are BISA’s members — all members can nominate individuals and firms they believe exemplify these awards, and the member-run Awards Committee selects award winners from this pool of nominations.
BISA Past President Frank Consalo of Citi Personal Wealth is serving his first term on this committee and, in this Q&A, shares his perspective on its value to BISA’s membership and to the industry.
Do you know a BISA member firm or individual who deserves recognition for their excellence? Nominate them for 2024’s awards by the October 31 deadline.
Can you describe the Award Committee’s role and importance in BISA’s mission?
FC: The committee recognizes folks who have achieved specific milestones and goals individually and for their firms. We have the ability to look across the industry at small, medium and large organizations that happen to be members, and in an objective way, make a decision on those that are having meaningful impact on the industry. When BISA calls out individuals and firms as award winners, this goes a long way to promoting our industry and our members. We also have an ability to really demonstrate why BISA is important — we bring this entire group together and call out when an individual or bank or credit union has done something special. Everyone likes recognition, and the more we can find ways to recognize our members the better.
This is your first year on this Committee — what has been a highlight for you so far?
FC: I’ve been involved in BISA for 21 years, and it’s been a great opportunity for me to understand how other firms operate and build their programs. I’m always trying to find how to make things better for my company by listening to other firms and trying to see how they do things differently. The most important thing is people — what are they doing to motivate people and engage with clients? At the end of the day, what can we do to make the industry better? The Awards Committee is looking for individuals and groups who have done a great job, and it’s fun, because you’re looking at people who are best in class in their respective areas. Being able to recognize them and learn from them is a great part of this organization.
Why are the awards BISA provides valuable for members?
FC: Everybody likes recognition. Several years ago, when we did the first D&I Award, Citi was one of the recipients. As an organization, we’re a very diverse firm. When a third party or industry association validates you’re down the right path and doing something right, it helps the culture of the organization live up to its values because a third party is valuing it. A single best thing a firm can offer is to have a culture that people want to be part of, stay in, join and make better. Firms that don’t understand that don’t do well. The firms that understand it thrive. They realize the culture of the organization is so important because they’re listening to their employees and clients and making positive changes, and those changes usually lead the firm to being nominated or recognized for what they’ve done.
When BISA comes along and gives the nomination and they’re recognized for that, you then have this award you can take back to your team. All of a sudden, you have this opportunity with your firm and clients to say, ‘I’m with a firm invested in the industry in this specific area.’ At Citi, we made a big deal about it, and all the banks do. BISA provides opportunities through committees as well as awards to meet new people, get involved and make decisions. In addition to it being fun, you are learning about the industry. That’s what makes our organization so strong. It’s been a big positive for our member firms.
Can you share a bit about the goals of the Awards Committee for the coming year’s awardee cycle?
FC: I hope we get a lot of nominations. We’re asking our members to be intentional to find people either at their own firm or other firms so we have a robust group to choose from.
I think all of our committees succeed by having our members involved, having a voice at the table and having open dialogue to determine who is making a difference in our industry, pushing forward on certain initiatives and running a program that other firms want to be like. I see members consistently, when they have a problem or question, feel they can reach out to another member and have a conversation, so we all help all of us do better. If one firm does better, we all do better. It really does help to have other people you can go to and get unbiased information. If someone calls me, I will tell them about my firm, but also ask about their firm. There is such an array of people they can reach out to. Everyone here is doing it on a volunteer basis. We’re doing it because we think it will make our industry better.
Are you inspired by Frank Consalo’s commitment to BISA and the industry? Submit your nominations for BISA’s 2024 awards — including the BISA Circle of Excellence Award, the DE&I Inclusion Award and the Technology Innovation Award — by the October 31 deadline.
About Frank Consalo
I have been in the financial services industry for 39 years as an advisor, manager, regional head and currently head of US Wealth Advisory for Wealth Mgt at Citi Global Wealth.
My education background is a five-year pause for a four-year degree at the “prestigious” University of Kentucky. However, in the past 10 years, I have spent a small fortune sending funds to Penn State University and the University of Virginia to educate and teach the skill of “partying” to the two most successful things I have accomplished in life — daughters. Having two girls who are now functioning members of society and active members of the tax base allows Dad additional discretionary funds to spend on extracurricular activities. My wife of 31 years and partner in this endeavor now gets to enjoy my company full-time, which is why we spend many weekends traveling as we have transitioned from the suburbs of Philadelphia to the Treasure Coast of Florida. While traveling from the sun-soaked Palm Beach area, I get to navigate many trips to NYC where I share a two-bedroom apartment with my oldest daughter and get to re-live my fraternity days of youth, living in a 500-square-foot unit while working in NYC. I never dreamed I would think the cubicle at our Global HQ at 388 Greenwich in NYC would be a destination compared to the 71-inch-wide bedroom that leaves me four inches after the 67-inch Queen bed. Yes, I have learned the definition of value!
I was adopted at birth and had the great fortune of having two angels in my life known as Mom, and many wonderful mentors and family members that have come into my life these past 60 years. I appreciate the value of relationships and the defining moments that happen throughout our lives that create the canvas of our legacy. These experiences create our DNA as leaders and partners in the best business in the world. We help people fulfill their dreams and provide them with peace of mind through a range of varying emotions and life events providing them the ability to enjoy their short time on earth and live life to its fullest — while creating a family legacy. Being able to be that navigator and watching families prosper and achieve their life goals is the most rewarding thing anyone can achieve.
I have spent the last 25 years building and leading teams while focusing on a culture that is built on transparency, diversity, listening to those who I may not agree with, surrounding myself with those more talented than me and having the humility to try and help bring others along for an experience in an industry that has blessed me for 39 years.
I have been an individual Advisor and recruited and led financial advisors, managers, teams and groups of banking and investment professionals throughout my career. My purpose is to build a great client-employee experience and help others see that their future can be so dramatically different if they focus on the long term, and have exposure to the capital markets.
My parents were uneducated and did not have the advantage of investing or having access to professional assistance and guidance. It has become a passion for me to help others be aware and engaged in their journey, to take control of their finances and understand the wealth and future they can create for themselves and their families with proper attention to planning and education.
I am the past president of BISA and look to be a contributing member of this great industry for as long as I can continue to build and lead successful and productive teams. In addition to taking pride in several industry awards, I take great pride in continuing to be the best title ever given to me in this life — Dad.
During weekends and spare time, I have now taken up boating and learning the racquet sport for mature crowds — pickleball. I also have several local charities and nonprofits I am involved with in my hometown of Stuart, Florida. I encourage anyone to come visit the lovely Treasure Coast of South Florida — and remember that “America is too great for small dreams!” So dream BIG!