Have you met someone in the journey of life that felt like a kindred spirit and total inspiration all in one moment? Well, that is how it was when I first encountered Lorraine Johnson through the Greater Raleigh chapter of the National Association of Women Business Owners. From my early days visiting NAWBO-GR to when I joined in 2013, Lorraine provided such vast expertise in being an entrepreneur, growing a company and building one’s wealth; then, as I served on the board of directors and we looked to bring back NAWBO-GR advocacy days, engaging with the North Carolina General Assembly similar to how NAWBO National engages members with elected officials in Congress, Lorraine vast knowledge about how, when, why and where to make North Carolina Advocacy Days happen. She’s so intelligent, fun, personable, relatable, down to earth and committed to making Earth better… There’s no doubt that Lorraine is truly a gift! I am so very grateful for Lorraine’s generous spirit, evidenced by her favorite quote being “Do the next good thing”. As Lorraine says, “be a decent person”, and that commitment is becoming more and more valuable by the moment. Enjoy this peek inside the mind and heart of this absolute rock star!

About Lorraine Johnson

Lorraine Johnson had a 40-year career as an investment manager and financial planner prior to retiring in 2024, where she specialized in working with women business owners and non-traditional families. She focused on retirement income planning for those within five years of retirement.

From the Greater Raleigh Chapter of the National Association of Women Business Owners, Lorraine has received awards for Public Policy Advocate of the Year, Corporate Partner of the Year and Member of the Year. She was inducted into the North Carolina Women Business Owners Hall of Fame and has been the subject of articles in the Wall Street Journal as well as InvestmentNews magazine. As Wealth Consultant Emerita, Lorraine currently serves on the North Carolina Supplemental Retirement Plan Board of Trustees. She is a strong supporter of Triangle Family Services and the National Association for the Mentally Ill (NAMI) national and local organizations.

First Friday Female Founder Feature:

Lorraine Johnson

How would you describe the company you founded and its products?

The company I started was called Triangle Financial Advisors. It was an independent firm offering financial planning, investments and insurance. I specialized in working with small business owners, non-traditional families and those who were retired or within 5 years of retirement. I sold the company in 2017 to LifeTime Asset & Tax Management, a company offering those same services with a great team of people who treat clients the same way that I did.

Why did you start your company?

I had worked for a regional bank and for a Fortune 500 insurance and investment firm. They were solid companies, and I had great co-workers. Then, one day, I realized I was tired of having goals set for me by other people and wanted to run my own company. Yes, it was risky and I could fall flat on my face, but I thought “I’m 45 years old. If I don’t do it now, I never will, and I’ll always wonder what would have happened if I’d given it a try.”

What has been the most rewarding part of your journey in founding this company?

My clients, my clients, my clients! I never took on a client I didn’t like so I worked with wonderful people every day. Watching their lives unfold financially, personally and professionally was a great privilege.

Lorraine generously shares her expertise, as on this NAWBO-GR panel about “Balancing Money and Mind”

As a fellow member of NAWBO, I’m always inspired by the encounters that remind us of the small world in which we live. A great example is how the sale of your company involved the husband of another NAWBO Greater Raleigh member… Let’s talk about that a little bit.

How did you prepare the company over the years with an eye to eventual sale?

I thought about this literally from day one. When I worked for a Fortune 500 company, one of the company’s specialties was helping small business owners start thinking about a continuity plan for their company. I knew that a few of the key questions are the following: 1. When do you want to be able to leave the business? 2. Who would you sell to? An employee? A competitor? Transition to a family member? 3. What is your business worth? Do you know how companies in your industry are valued?

I found out at the very beginning how companies in my industry are valued. I began to grow the company’s revenue stream in a specific way, narrowed my services to three and chose three primary demographics to work with. One of those demographics—age—shifted over time. Next, I joined the Greater Raleigh chapter of the National Association of Women Business Owners (NAWBO). I went to the meetings, looked for the most successful women in the room, got to know them and learned everything I could from them. They were great mentors and role models for me.

What led you to sell the company when you did?

It was very simple. I had owned and grown the company for ten years. I already knew I was at the point where I was stretched too thin. I would have to narrow my services to one, reduce the number of clients I worked with or sell. I liked everything I did and loved my clients so I didn’t want to let any of them go. One night, I was sitting at my desk looking over my monthly P&L statement like any good business owner does. All of a sudden, I heard in my head “If I never sit at my desk at 9:00 at night reading a P&L statement again, it will be too soon.” That was it.

How did you choose the person to whom you sold?

I knew I was looking for a team of people who included the following: 1) offered the same services I did, 2) were excellent technicians, 3) had a lot of experience but were young enough to take care of the clients for many years to come and 4), most importantly, would care about my clients as much as I cared about them and treat them as ethically as I had. l researched every single independent financial planning & investment management firm in the Triangle—I mean ALL of them. Over the course of about 6 months, I narrowed it down to one, and we were in negotiations.

I already had a thorough, industry-specific valuation of Triangle Financial as a base, and, then, it was a matter of getting to know each other and putting the offer together. We took our time. It was a two-way street—they were interviewing me, too, because I wanted to continue working in the company for 5-10 years. I wasn’t ready to retire from planning and asset management; I just didn’t want to run a company anymore.

Then… a curve ball! Sarah Glova was the NAWBO Greater Raleigh chapter president at the time. Her husband, Matt, was the primary partner in LifeTime Asset & Tax Management. I won an award, and Sarah told Matt about it. Next thing I knew, he called and asked if we could get together for lunch. I thought we were just having lunch, but he showed up with a book titled something like “The Ensemble Practice”. He was smart and personable. When I looked at LifeTime, it became clear that I needed to take a step back in my other negotiations and reconsider.

I know absolutely, positively, down to my bones that LifeTime Asset and Tax Management was the right choice. The entire team has proven that from day one, and I’ve never regretted it. I retired from working with clients at the end of 2023. Over time, we’d made sure that almost every client had a secondary advisor. That way, when I retired, they weren’t meeting the successor advisor for the first time. The business continuation plan has worked out well for me, for LifeTime and, most importantly, for our clients.

Lorraine with her mother

LifeTime Asset & Tax Management team

About what are you most proud?

Professionally, I’m most proud of the fact that I helped literally hundreds of people reach their financial goals and, by doing so, live out their hopes and dreams. We planned for their retirement and, then, in the blink of an eye, the time was here, and they were on solid financial footing. I had clients I worked with long enough that the children we started college funds for were graduating! Personally, I’m most proud of the fact that this year my partner and I are celebrating our 30th anniversary, and we’re still happy together.

Are you naturally organized, was it a skill you learned or is it something with which you regularly struggle, and what tips or tools do you use to stay your most organized?

Ha! I am not naturally organized, and I do struggle with it. To make it worse, I’ve been a last-minute person all my life, from elementary school homework right up to today. I have learned to make to-do lists and try to prioritize them according to urgency and importance. I’m sure you tell all of your clients that urgent and important aren’t the same thing. I’m not hugely successful at it, but I must be doing something right or I wouldn’t have achieved as much as I have.

Who’s the one person who changed your life and why?

Since you’re making me choose, I’d have to say my mother. Without her love and encouragement, I’d be a completely different person. I also want to give huge credit to both of my parents for teaching me to read early and teaching me that reading is fun. It’s made my life so much easier.

Celebrating Lorraine's advocacy work

Lorraine with Emily & Olalah of NAWBO-GR

What words of wisdom would you have for someone who is overwhelmed with staying organized and / or productive?

First, don’t beat yourself up about it. You have plenty of company! Second, read or listen to (short) books on the subject. Pick one organizational tool or strategy at a time and get pretty good at it. Then, pick another and improve on that one. Third, surround yourself with organized people. There are plenty of people who are great organizers. We all have our strengths and challenges. Let other people help you fill the gaps.

Do you use technology to help stay productive or organized? If so, what’s your favorite program, app or tech tool?

This is about as low tech as it gets. I set alarms on my phone for EVERYTHING, not just for appointments but for tasks as well.

How do you feel about work / life efficiency or integration in your life, including any tips or challenges for managing the personal and professional commitments in your life?

When the rubber meets the road, it’s family first, always. Period. If your friends, clients and co-workers can’t honor that, then you’re with the wrong people. Second, it’s so hard not to try to do everything, but—don’t try to do everything. It’s impossible. Delegate

Lorraine was Athena Powerlink of the Triangle’s 2014-2015 recipient, benefiting from the wisdom of local experts in the fields of finance, lifestyle and leadership.

About what causes are you most passionate?

1. Mental health, which I’ve struggled with all of my life. This runs in my family. Lots of us have difficulties with depression, anxiety, etc, and we don’t talk about it. That’s unfortunate since talking about it helps you as well as others. 2. Equal treatment and rights for everyone—across ethnicities, economic class, gender, you name it. I’ve spent a good bit of my career and my personal time advocating for people who face challenges I don’t—or who face the same challenges I do. I started out with a lot of advantages. On the other hand, there’s being female in what I’d still consider to be a man’s world, and being part of the LGBTQ community. Those aren’t always easy. 3. This isn’t exactly a cause, but be a decent person. Just be a decent person.

What have you found to be the most effective way to relax after a long day or super long week?

Read a book or play my guitar. It’s really hard to play an instrument and think about something else so it makes everything else just fade away.

What is your favorite author / book?

The Once and Future King by T.H. White. I read it in high school and never forgot it.

What is your favorite inspirational quote?

“Do the next good thing.” I can’t always do the best thing or even figure out what the best thing is, but I can do the next good thing. I also have a personal motto: “You can never have enough electrical outlets.”

As a puzzle fan, Lorraine just finished this.

Puzzle from farmer's market photo

What is your go-to accessory?

A really unique necklace and earring set that I bought in the mountains. It’s made out of small nuts and bolts. Seriously. It is.

What are the fundamentals of your beauty routine?

I knew you were going to ask me that. Now, I have to put in print that I don’t have one.

What is your favorite food?

Pepperoni pizza, although I rarely let myself go out for pizza. I know I’m supposed to say lentils with broccoli and tree roots, but there you have it.

What is your favorite place that you have visited?

Norway, with Switzerland close behind. So beautiful.

What movie could you watch on endless loop?

The Mask of Zorro

Of the locally-owned and -operated establishments in the place you currently live, which are your top 3 favorites and why?

Mr. Mike’s Used Books in Cary. They have a wide variety of books, and they give you store credit if you return a book. I could stay there all day!
Sassool restaurant in Cary for a wide variety of healthy Mediterranean food.
Leaf & Limb for tree and shrub planting, pruning and consulting. Unlike so many tree services, they try their best NOT to take down a tree. If it needs to come down, that will happen, but they are very environmentally sensitive about the impact of what they do