Nikki Parness and her holistic approach to work, life and work-life balance

Nikki Parness went into the family business – by choice.

Parness always had a “finance mind” – math and problem-solving came easily to her. She studied  for an MBA (Masters of Business Administration), a CFP (Certified Financial Planner), and a CPA (Certified Public Accountant). While working on her CFP, Parness found income tax planning the most interesting because “that’s the basis for making decisions in all other areas of your life.”

She began her career in Americorps followed by a position as a budget analyst for the City of Eugene, Oregon, and then completed five years at Fidelity Investments, first as an analyst, then as the principal/senior analyst. After beginning on a corporate path, Parness decided she wanted a change within the financial realm.

In 2011, one of her mentors from Fidelity helped Parness make the decision to leave Fidelity and the corporate world to join her father’s accounting firm, Larry B. Parness. Parness and her mentor discussed being professionally successful women while raising families. Parness changed her career path so that she could spend more time with her two daughters and husband.

She considers her family to be her greatest personal achievement. Parness’ father, another important mentor, modeled the “work-life balance” that Parness strives to achieve. In fact, Parness’ biggest professional challenge is “living up to my own expectations.” She wants to be available for her clients and family while keeping a healthy lifestyle for herself.

In order to achieve that balance, Parness has had to make some sacrifices. She does not have time to do as much volunteering and community activism as she would like.

Even so, Parness upholds this value as a member of Providence Rotary. Parness’ family values were instilled through Judaism. Observing Shabbat is more traditionally important for her than spiritually, as it is an opportunity for her to “connect” with family “wherever [we] are.” Parness also enjoys frequenting the East Bay Bike path and the beach with her family. She says, “Not enough adults build sand castles, jump in waves and play in the sand.” Parness also “embrace[s] the idea of giving yourself downtime when Shabbat comes.” She incorporates Jewish values into her work life through honesty. In fact, the best work advice Parness ever received was from her father: “Be honest. And follow up on what you said.”

Parness looks at accounting holistically. The most important quality of an accounting professional is the “ability to look specifically at a person’s situation and make a decision on that specific person.” She emphasizes that individualizing each client’s care is key and realizes that sometimes the best financial decision is not always the best decision for the client.

Parness’ favorite projects are working with start-up businesses. She enjoys making different types of decisions with clients as their businesses grow and hopes to stay with them until the business closes or changes owners. She is doing well if her client comes to her with something that is not exactly accounting, therefore viewing her as their “general point person on holistic financial plan[ning].”

One of Parness’ favorite days at work was at Fidelity while managing new analysts. Parness “enjoyed fighting for them to get the promotion ... and the recognition they deserved” because encouragement is important when someone is new to a career. Ideal days include receiving calls from clients with questions and getting referrals that come from clients. These events “let [me] know that [I’m] doing what [I’m] trying to do – serve [my] clients.”

To anyone who wants to follow in Parness’ footsteps and enter the same field, she says, “Go for it. If you are honest to yourself and honest to your clients, don’t be afraid. There are a lot of financial professionals out there. Go for it, but be unique in how you do it.” Parness clarifies that not all clients will be the right fit for all accountants and when you do find a client that is a good fit, focus on them and forge a lifetime relationship.

Parness’ greatest professional achievement may occur in a few weeks when she hopes to receive her CPA. “Education and continuous learning are very important to me.” It is important for clients to know she is not “stale” and will continue to understand changes in tax and general laws that affect clients’ personal and financial decisions.

If Parness were not an accounting professional, she would be a nurse because nurses “get to talk to people, work with people, figure out what’s going on in their life and how [I] can help them.” Essentially, this is what Parness does in the financial world – helps people solve their problems.

Parness feels inspired when she sees that she has “made a difference” and “seeing that someone has followed a piece of advice [I have] give[n] and that they’ve found success with it.”

Dana Cohen is The Jewish Voice summer intern.