Member Q&A - Ellen Kratzer

Tell us about your career and where it all started

I began my career at Chemical Bank, one of the large commercial banks headquartered in New York City (now part of JPMorgan Chase), in the international private banking division.

What led you into the trusts and estates field?

I always wanted to do something that had an international aspect to it and I wanted to meet interesting people. I love working with families. There is a great feeling of satisfaction in helping people to achieve their goals and realise their dreams.

You were recently the recipient of a STEP Founder’s Award for Outstanding Achievement. What does this award mean to you?

It was incredibly meaningful to be recognised by my peers for contributions to an organisation that is near and dear to my heart, and especially to have been nominated by STEP New York.

Why did you get involved with STEP in the beginning?

For me, the attraction was that STEP is a unique community that brings together top practitioners to learn from each other. It makes all of us better advisors to our clients.

In what ways have you been involved with STEP and how has this benefited your practice?

I joined STEP New York in 2007 and became Vice‑Chair/Programme Committee Chair prior to serving as Chair. In 2019, I was elected Chair of the Board of STEP USA, which oversees the 17 STEP branches and chapters in the US. STEP is a multidisciplinary community that gives its members the opportunity to develop relationships with top professionals throughout the world. It is not only a very supportive group, but also a fantastic go‑to resource.

What have been some highlights during your time with STEP so far?

Working with fabulous STEP members, all of whom are volunteers, as well as the talented staff who are instrumental in making things happen; and travelling to conferences throughout the world, where I have gotten to know amazing professionals, many of whom have become dear friends.

What has been your greatest professional achievement?

Developing and implementing a strategy for Fiduciary Trust to expand its international client base.

You are active in the not‑for‑profit space, working with various organisations and charities. Do you think community involvement makes one a better advisor?

I have a passion for community service; I have always wanted to give back. That led to the privilege of serving on the boards of a number of not‑for‑profit organisations, including USA for the United Nations High Commissioner for Refugees, the Council for Canadian American Relations, and the Junior League. I never anticipated that I would learn so much and develop skills that I have been able to apply to my business career. In these roles, I am fortunate to have received tremendous support from my firm.

What are some of the challenges facing your jurisdiction and how might they be overcome?

Governments throughout the world are facing challenges. Many countries are confronting serious socioeconomic inequalities. Clients are interested in addressing these challenges through environmental, social and governance investing as well as through philanthropy. Related to that, the global tax landscape is in flux. Addressing these issues will require substantial thought on many levels, so our work as advisors remains very meaningful.

What would you say to members considering getting more involved?

STEP will help you to increase your knowledge base and expand your network of contacts worldwide, all of which helps you navigate this increasingly complex world. STEP’s mission boils down to education and networking, so if you are interested in staying on the learning curve and meeting fantastic people, I cannot think of a better professional organisation.