Marianne Lake

Ryan Serhant:	Welcome back to another episode of Big Money Energy, where we talk to super successful and self-made people to find out exactly how they did it, how they went from nothing to something. I’m Ryan Serhant and today I’m talking to a pioneer in the world of banking, Marianne Lake. She’s the chief executive officer of consumer lending at JPMorgan Chase and knows everything there is to know about money. We discuss advice for people looking to pay down debt, the biggest mistakes people make with their money, what Americans take for granted in the banking system and whether or not it’s smart to invest in crypto currency. So let’s get into it. Welcome to another episode. Today is a very, very special day because I finally got the guest who’s in front of me to agree to sit down with me. Her schedule is insane for a lot of different reasons. One, she’s an absolute icon. She is a mega business woman.
Ryan Serhant:	She’s the former CFO of JPMorgan and now the CEO of consumer lending at JP Morgan Chase, Marianne Lake. She’s been with JPMorgan for 20 years, working as a senior financial officer in London office and managing the global financial infrastructure and control programs as a part of the corporate finance group. Not to mention, she’s a champion of empowering women in finance. She is the co-founder of the Women on the Move initiative, the largest employee business resource group at the company. And as if that wasn’t enough, she also sits on the board of directors of the New York City Ballet. She is easily one of the smartest and most influential people in the world. And that is a statement, I’m going to leave that there, and has had such a dynamic career. Chase card services alone is the number one credit card issuer in the nation. So I am super excited to be sitting down with her today without further ado. Hi, Marianne, thanks for doing this.
Marianne Lake:	My absolute pleasure to do it, and I’m thrilled to be here. And that was a big intro. So we’ll hope to live up to it a bit.
Ryan Serhant:	Well, there’s more. You know what, when I wrote the intro, it was like a full page. It’s tough because you do so many things and you’ve had such a really important and an impressive career. So then I’m trying to figure out with the team like, “Ah, okay, we won’t go through all this stuff and I’ll just talk to her.” How is it being back in the city today?
Marianne Lake:	It’s good. I like to be here. I miss it, if I’m honest with you. I think we’ve become incredibly capable virtually and there are some really big benefits to it and some of those are family-related and some of them are professionally, but I miss it. I miss the combustion, the collaboration, the kind of bumping into people in the corridor. So it’s fun to be back. For me, back then, it was very new, scary. Nobody knew what they were doing. New York was the epicenter of this whole thing. And even though nationally, the pandemic is still an issue, I feel like we kind of have a little bit of an understanding about how to cope with it here.
Ryan Serhant:	Yeah. It’s kind of like anything, right? You kind of figure out what your flaws are personally, and then you just learn how to amplify your better traits.
Marianne Lake:	That’s right.
Ryan Serhant:	It’s like, we’ve all kind of figured out, right, this virus is a flaw. We got to amplify our better traits.
Marianne Lake:	Coping mechanisms.
Ryan Serhant:	Exactly. Can you talk to me just for a split second about, you see all the time hospitals and, let’s say, the police force, fire department, they run drills all the time for terrorist attacks, for anything, anything, anything. You are a very, very large part of the biggest bank in the world. Are there drills for, if everyone needs to stay home for seven months, what do you do, how you operate?
Marianne Lake:	Yeah. So, I mean, look, business resiliency and kind of operational resiliency is a pretty critical part of what we do. And we’re systemically important all around the world to the financial infrastructure and all of our clients. And so we do drills all of the time in every possible way. To be completely candid, many of the resiliency plans that companies had in all genres of industry involved failing over from one location to another and level loading around the world. And clearly I would be misleading you to suggest that we had the one year long global pandemic work from home drill. So there was a lot of lessons to be learned and my hat is off to all the tech and infrastructure folks here at our company, but quite frankly everywhere, that managed to pull off getting, for us, 250,000, close to 250,000 people working from home in weeks, and we’ve just gotten better and better and better.
Marianne Lake:	And so when we look forward now to whatever that looks like, resiliency planning for the future, one of the things that we’ll be conscious of is this whole dynamic of virtual working, working from home and we should never lose this capability now. Right? One of the things that we’re focused on and everybody will be focused on is what does the workplace solution look like in the future, ways of working. Will people be physical, virtual, hybrid? What will that look like? And so we’re working on it too, and it will be different, I’m pretty sure.
Ryan Serhant:	What have been the benefits of virtual work in a bank? Is productivity still there? Is the intellectual conversation? What’s tougher? What do you think’s going to come out of this other than just that you can save on office space, which everyone talks about?
Marianne Lake:	We’re more worried about the things that you might lose than necessarily focusing on the benefits, but there are some. I would say, first of all, this has been a deeply human crisis. And so, we are first and foremost, we employ 250,000 human beings who have families that they care about and many people have experienced sickness and grief and so the ability to continue to employ those people and allow them to have a more flexible working dynamic when their kind of personal and professional lives collided in this unprecedented, completely unimaginable way, has been a benefit of course, because otherwise more people would have had to put their hand up and say, “I’m tapping out. I need to go deal with my kids, my family, my circumstances.” And I think this virtual world has allowed a degree of flexibility that we see when we measure the statistic.
Marianne Lake:	We see some people are working later at night and having to take some time off during the day to get stuff done. Other people are coming in because we need them to. Branches need to be staffed to help our customers. The traders are in, and other people are working, an extra hour a day that they’re not commuting. So we’re paranoid about losing productivity. We measure everything we can measure, which is not everything. I think that our employees have met us more than halfway and are putting in the extra time when they can. And so we’re just sort of keeping the faith. Now, what we’re worried about, other than just productivity, is the cultural drawdown, because you’ve built… You’re a relationship guy, right? You build relationships because you have the human interaction and the human factor, and you get the organic opportunities to sort of understand people and what makes them tick. And that’s hard.
Marianne Lake:	So figuring out how you can mentor people virtually, making the time to [crosstalk] how you hire people, how you train them, how you mentor them, how you teach them the culture, and then how you maintain the culture. That’s what we’re focused on. And so far so good, honestly, pleasantly surprised, but it’s the watch item and we’re paranoid about that, so we’re focused on overcompensating for it.
Ryan Serhant:	We’ve started to have what we’re calling Zoom amnesia, because if the place doesn’t change, the screen doesn’t change and all that’s changing are the little squares and faces… I will always remember this meeting sitting down with you. I’ll always remember good times I’ve had with other people physically because I’m going to remember these ceilings, the whatever. The Zoom always looks the same. And so it’s like, “Oh, you remember that conversation we had?” I’m like, “I honestly.”
Marianne Lake:	Vaguely.
Ryan Serhant:	I mean, I remember the sound, but I don’t remember exactly that specific Zoom meeting, which is, I think, tough for growth, right? Everyone’s going to become all of these task takers and doers. Everyone’s going to have their little memo pads because they’re not going to be able to remember specific situations because they will have no planting in place. Right?
Marianne Lake:	Yeah. There’s no hook. Everything is like monochrome, but look, I will say one other benefit for me, and I’m thrilled about this, is if you call me on the phone these days, cellular, no video, I’m like, “What are you doing? Why would you do that? Why are we not looking at each other?” We can’t necessarily be in the same room and that’s a given, but now everything I do is face to face. And so I’m weaning myself off email, not completely, but as much as I can and that’s a benefit. So and I’m able to Zoom you at 9:00 at night and it doesn’t ruin my day. So there’s some good stuff. And dinner with my kids.
Ryan Serhant:	Yes, yes. Family time. How stressful was March 2020?
Marianne Lake:	I think that this company and, for me, we rise to a good crisis if I’m honest with you. And I think that you feel the stress of it kind of a little bit more when you’re past the peak. So I would say kind of June maybe felt to me like, “My gosh, this is still going and here we are now in January.” I think in March, for me, it was all about our customers. We had millions of customers that needed our help in a variety of different capacities and they needed it quickly. And when we were all sitting there in March, I don’t know about you, but we didn’t know where it was going to end. And we were talking about unemployment in the above 20% and so if you think about the business that we’re in, in terms of helping people both with their financial lives in terms of their banking and investments, but also with lending, being able to provide them with quick solutions and engage with them digitally. That’s the other thing.
Marianne Lake:	We’re a world where our default is pick up the phone and call the call center or go into the branch and ask for help. And so we rapidly had to turn around and say, “No, no, no, no. We’ve got you covered digitally,” and re-habituating or habituating people to do things a little differently. So I would say March and April, it was like execution, execution, execution, meeting every day, solving problems, figuring out the plan, getting after it, singularly focused on helping customers and June was more the kind of, “Phew,” and then here we are.
Ryan Serhant:	What were some of the tough decisions that you all had to make?
Marianne Lake:	Honestly, if you come at something from a customer lens, decisions kind of become a little easier, but for us, it was the government obviously has done a huge amount to help all Americans, at least to try to, and we wanted to step up and do our part. And so clearly, as you know, the CARES Act provided certain protections and payment relief for only parts of the mortgage industry. And I run not just a government lending business, but also a proprietary business and also a credit card business and an auto lending business and we have lending to small businesses. And so we made the decision that we were going to provide consistent relief across all asset classes from March 27th. We had it all built and up and running digitally for everyone and not sort of be led necessarily by just what’s required, but just full stop.
Marianne Lake:	Everybody who needs help can get 90 days of relief, no questions asked, across all asset classes to buy time for everybody to figure out where this was going. And I wouldn’t say it was a hard decision, but it was important to make the decision and just do it. Yeah.
Ryan Serhant:	I will say, in the conversations that I have with salespeople, buyers, sellers around the country, in 2020 Chase was one of those companies where everyone felt safe. That feeling actually, I think in hindsight, you guys will see this in consumer growth probably, people always go to what they think is safe because they hear it through rumor or it got them through that pandemic. I know with kind of the Paycheck Protection Program, Chase was right on top of it and was answering emails, everything, quickly, whereas other banks were having a really, really hard time either technically or logistically playing catch up, but that program ran through you?
Marianne Lake:	No, it didn’t, but part of the team that did it, and I have a colleague of mine who’s an extraordinary partner who spent large portions of her 2020 year figuring out the PPP program and is now doing it again, round two. And there will be a round three and listen, moments of truth are important. Customer experience is important all the time, but it’s never more important than when there’s a moment of truth for someone, regardless of what that is, that’s what people remember. You had my back when I needed your help and did we do everything right? No. And will every customer be equally happy? I’m sure not, but we definitely tried. And it is our intention to meet our customers in those moments of truth. So PPP was a really important program. Wasn’t straightforward. It still isn’t, but we did our best.
Ryan Serhant:	Are you motivated because there are so many people looking for home loans right now and buying cars and spending money, or is there a worry in the back of your mind, as someone who runs the entire lending business, that these interest rates are just too low? Where does inflation go? What are the next couple of years going to look like? These valuations, forget New York City, valuations on real estate around the country are not making a whole lot of sense. Where we go from here? Do you think it’s a kind of roaring twenties into another crisis? Or do you think we are set up as much smarter and more capable?
Marianne Lake:	So I think, for me, I think this is a very different situation than the great recession that we had in the last 10 years and I can speak for us, but I think it’s true quite broadly that our business is very different today than it was before. And we de-risked. And so this isn’t a consumer led crisis either. So consumer balance sheets are stronger. I mean, that’s not to say obviously that at the margin, there are not a lot of people who are and will struggle and we should have significant empathy and be there to help folks. But it is the case that in that kind of ability and willingness to pay spectrum, I think that the consumer, just generally, is in a decent spot, and so with interest rates where they are, and the appetite, as you talked about, for home purchases and record purchase volumes. In this region, we’ve doubled our origination year over year. Now I do think the next year or two has a long way to run.
Marianne Lake:	And we pulled back a little bit on risk, of course, so we are always going to make sure that when we do loans, we expect our customers to be able to and willing to pay them. So I don’t actually see that this is going to be something where we’re going to get through the next couple of years and then see a significant consumer stress. But we prepare for the worst always.
Ryan Serhant:	What advice do you give to anyone who’s listening who might have, let’s say, either lower credit or they’ve got a student loan that they need to pay down so it makes things hard and this idea of the American dream of home ownership just seems like it’s getting further and further and further away from their grasp? Is it just listen, go through the motions? You got to make money. You got to build up. These are the protocols. Big banks need to calculate risk because we deal with a lot of people as well, first time home buyers who have said to us, “Well, listen, Ryan, I can’t even. I have some money, but I’ve got this loan to pay down. I got this to handle. I got to do this. I don’t think I’ll ever be able to buy a home or afford it.”
Marianne Lake:	Yeah. I mean, look, at the end of the day, there are some things you can control and then there are obviously things that you can’t. And so as a individual, you can control your credit education, your financial health, doing what you can do to make sure that you’re positioning yourself the best way you can for someone who’s going to potentially assess you for credit worthiness in the future. And so everywhere that you look, you can find your credit score, you can find tips on how to improve it and just maintain good financial discipline and health in what you do do. Pay your bills on time and don’t overreach. And so for me, if you kind of take those disciplines into account, and then I would also say for us, we also build relationships. So it’s not to say that we don’t want to make money on a transaction, but for me, if you’re a customer of Chase, you have had your financial situation with us.
Marianne Lake:	We know your inflows, we know your outflows. We know what you have. We’re more inclined to be able to lend to you because we see risk separation. We see that the performance of our own customers is better. So I would say consolidate your financial situation with a partner you trust. Pay attention to your financial discipline and your own financial health, do what you can to improve your situation. And then there’s an element of things you can’t control. So patience is also a virtue. And then if you can’t reach the goals of being able to own a home, then maybe there’s other ways you can invest and continue to grow your wealth. I mean, obviously the American dream is that you have home ownership and that it’s able to sort of create generational wealth for you. And that’s something that everyone should aspire to, but any wealth creation would be helpful.
Ryan Serhant:	What was your connection to money growing up and as a kid, do you remember?
Marianne Lake:	So my dad is a electronic engineer, so he wasn’t like the super ambitious guy, incredibly smart, had a good job. We were sort of very happy and financially healthy, but we weren’t like wealthy by any stretch of imagination. I do have a recollection and it’s not particularly clear, but I do have a recollection of when I was old enough to know and young enough not to be worried about it of interest rates in the UK hitting double digits and there being a big negative equity wave and it being an actual thing that was worrying for my family. So I have that recollection. And, but other than that, it wasn’t really something that I paid huge amounts of attention to. We didn’t have any real challenges. We didn’t have significant excess either. And I would say one sort of formative financial thing for me was when I was at college and I worked a job as well as being at college and-
Ryan Serhant:	What was that job?
Marianne Lake:	I was a barmaid.
Ryan Serhant:	Nice.
Marianne Lake:	I poured pints. So yeah, it’s fun. It’s social. Why not? But I did that as well as being at college and I don’t even really know or have a clear appreciation of how I did it, but I ran up some debts, not huge, but enough that I couldn’t get out-
Ryan Serhant:	Stuff on credit cards and stuff?
Marianne Lake:	No, not on credit cards. But just not so significant that it would be a thing, but I remember being really embarrassed and just making myself the promise that that’s not happening again. And so planning is a big part of what I do.
Ryan Serhant:	As someone who’s advised and has consulted and is now a part of a very, very large bank, what’s the biggest money advice that you’ve either given or someone’s given to you that you think everyone who’s listening could take away from?
Marianne Lake:	I think two things. One is a little bit more super tactical, but I think probably the most important thing. And then one maybe a bit more strategic. You need to have some liquidity. Stuff happens and you can’t control everything clearly. Right? And, we have in this company, we have the JPMorgan Chase Institute that does a lot of kind of research and did some research on savings and what you need to be able to weather a contemporaneous or a simultaneous decrease in income with a spike in expenses. I think you lose your job or your hours are curtailed and you have a medical expense. And mostly, the rule of thumb is six weeks of take home pay would be a good liquidity buffer to try and help make you resilient through those kinds of normal income volatility stresses. And two thirds of people in this country doesn’t have that. And so that’s one of the reasons why national savings is such a priority.
Marianne Lake:	And I do the same thing. I mean, it looks different for me maybe, but I take a look at what I have that I need to lay out in terms of operating expense for my life and my family. And I make sure that that is, at least for some period of time, it’s liquid and that I have access to it. And I just think that discipline and it’s not always possible and everybody’s situation is different, but I think that having that when you can is super important and any kind of goals-based savings, any kind of ability to try and lean into that, I think would be great advice and have been for me. The other thing is think long term about your financial situation, if you can. If you can get invested, again, whether it’s in investments, whether it’s in your first home, however that is, even if it’s in a small amount, and stay invested through cycles and not get sort of overexcited with the day-to-day markets. Stay invested, have a longterm view. Generally speaking for me, that’s my philosophy.
Ryan Serhant:	What’s the biggest mistake, though, that you think people make with money, from your position where you sit, which you’re the one, is there something where a one-third of Americans I wish people could just learn to stop doing that thing and they’d be so much better off? Is it just savings probably?
Marianne Lake:	I don’t spend much time judging other people because I think everything is relative to your situation. So sometimes what looks like a mistake is by necessity. I do think it is literally at its core, just like financial discipline. So don’t overreach and pay your bills on time. You can control. I mean, not everybody can control it all the time and if you lose your job and you haven’t got the funds that circumstances can conspire against you, of course. But if you have the capacity, don’t be sloppy and then yeah. Savings. So to me, it would be if you have the capacity, if you’re not in a difficult situation, don’t be lax, don’t be sloppy. Don’t lose track of things. Be on top of it. Maintain the discipline that you would over your health or whatever else it is.
Ryan Serhant:	What do you think Americans take for granted with our banking system? You see Venezuela, for example, or other countries and Americans like to complain a lot, right? Nothing’s ever good enough. The CARES Act, it’s only, I can’t even remember, what was it, trillions of dollars, but it was only trillions, how come we can’t do this? How come we can’t do that? And I feel like if people just understood what it was like in other parts of the world, they’d really come to appreciate a lot in the United States, but specifically the US banking system.
Marianne Lake:	Yeah. I mean, look, I don’t think that our customers take a lot for granted. I think they have high expectations and I think they should. They have the right to have high expectations of the US banking system. But I suppose if, of course, we have the Consumer Financial Protection Bureau, we have a lot of other regulatory standards and the FDIC insurance. So I think there’s a lot of protections for US consumers, in terms of where they put their money and the banking relationships and how regulated banks should be and the standards we should be held to when we’re dealing with other people’s money and livelihoods and things like that. And so I think that there are high expectations and that’s as it should be honestly, and we have to earn the right to continue to deserve that every day. And that’s healthy. So I don’t know if it’s unrealistic, but I do think we are blessed over here. Of course we have, and Jamie always says it, the deepest, most liquid financial markets in the world. And Americans have access to, I think, differently situated protections.
Ryan Serhant:	What’s a misconception that people have of your job?
Marianne Lake:	Well, I don’t know if it’s a misconception. I mean, I read a lot of customer complaints. I think it’s incredibly important to do it.
Ryan Serhant:	Really?
Marianne Lake:	Yes. Listen to a lot of phone calls, customer phone calls.
Ryan Serhant:	Really? All those recorded calls every time they say this call is being recorded for-
Marianne Lake:	Yes.
Ryan Serhant:	Really?
Marianne Lake:	Well, not all of them. Yeah. So I get complaints directly to me. We also go through them often, listen to the calls. I think it’s not misconception of my job. Obviously, we’re a very large financial institution, lots and lots of transactions. And that I’m sort of personally involved in deciding each and every one of those is obviously not realistic, but I do try to listen to the calls, the complaints, and really dig into what we could do differently. So I don’t know if it’s a misconception, but we do spend as much time, and I do spend a decent amount of time, really getting into the nitty-gritty of the experience because it’s not always where it should be and we need to do better.
Ryan Serhant:	Do you remember when you bought your first home?
Marianne Lake:	I definitely remember when I bought my first home. I’m a real estate geek, you know that, right?
Ryan Serhant:	Yes, yes, yes, yes. Where was it?
Marianne Lake:	It was in Wimbledon in London in a mansion block, so purpose-built mansion flats, a hundred years old, two and a half bedrooms. Yeah. When I bought it, the real estate market in the UK was fully booming. So quite literally between starting to look for a place and being able to buy a place, I went from being able to afford a small terraced house to an apartment, 100% loan to value IO in the days when that was a thing.
Ryan Serhant:	Really? That was your loan?
Marianne Lake:	Uh-huh (affirmative).
Ryan Serhant:	Wow.
Marianne Lake:	Super brave. That’s the bravest I’ve been. But then I tightened my belt. I didn’t go out. I painted every single… It would be your absolute nightmare. I painted every single room a different color.
Ryan Serhant:	Oh my goodness.
Marianne Lake:	I swear to God. How long did I have it? I had that from, so I had that for maybe two, two and a half years. And I was fortunate that in that two and a half years, the UK real estate market was still doing quite well. So liquidated, bought up, not 100% linked to value, be delighted to know. And I still have that house by the way.
Ryan Serhant:	Really?
Marianne Lake:	That’s the house I bought. Yeah. I still have that one.
Ryan Serhant:	Wow. You keep it rented or family lives there?
Marianne Lake:	My family. Yeah.
Ryan Serhant:	Okay. Got it.
Marianne Lake:	Yeah.
Ryan Serhant:	Why do you think you like real estate so much?
Marianne Lake:	I’m not great at investing in real estate, just so that we’re clear because I’m emotional about it. And I think that’s like not really particularly good trait.
Ryan Serhant:	I actually, I appreciate that.
Marianne Lake:	I guess I just enjoy the process as much as I enjoy the outcome of it. So for me, I spend a lot of time getting to know the neighborhoods I’m in. So right now, I’m not in the city at the moment. And I spend a lot of time just looking at everything that’s for sale around the area, just so I know the market.
Ryan Serhant:	And there’s good deals.
Marianne Lake:	Yeah. It’s not necessarily about the deal. It’s more about the awareness and having the context and the insights and being a amateur of what you are, a deep, deep amateur.
Ryan Serhant:	Oh, what would you say to women entering the workplace now? And can you tell me a little bit about what you do for Women on the Move and what that initiative is all about?
Marianne Lake:	So Women on the Move started being quite internally focused and started off work at JPMorgan Chase where a few of us in some senior positions in the company kind of said, “Well, we should get together and listen to what the experience is like if you are a woman working in this company, but maybe you’re not at the level we’re at or in the business we’re in or even in New York, and just really understand what the experience is like and understand at a really practical level, whether we as leaders could actually champion some change and make this a great place to work.” We did that for a couple three years and then decided that actually we ought to turn not just to be internally, but externally focused and look at women in corporate America, but also our clients and small business, women entrepreneurs and other parts of our client base and try and see whether through our actual businesses, we could promote more women run businesses, try and provide capital or get access to capital for female entrepreneurs and things that are just a little bit harder.
Marianne Lake:	We have now internally focused a lot of events that we do where we do go out and go on the road and listen to our employees and hear like what’s working and what’s not working and how we could change things. And as I think you said at the beginning, the sort of women’s group in the company is the biggest resource group we have. And there’s tens of thousands of women and men, by the way, who participate in that. Many of our women are mentored by great men who have wives and daughters and want women to be successful. And then obviously we’re structuring our businesses to also make sure that we’re promoting success for minority and women owned businesses and communities.
Ryan Serhant:	What do you think about when people say you’re a trailblazer in the industry? Do you agree with them? Do you feel like that’s a lot of weight on your shoulders? I mean, you kind of have to agree.
Marianne Lake:	I don’t really think about it so very much, except for, I will tell you that when I became the CFO of the company and people would start asking me my thoughts about women in the workforce and women in corporate America, and I realized I had a responsibility to actually have a point of view and to lean in and really take some responsibility for helping others. But I don’t think so very much about myself and I do this job because I love it in this company because I love it, with a team that I think is extraordinary and nothing that any of us do is just us. The best leaders are people who have teams of people working for them that are more talented than they are and bring talent and culture along. And so I really think it’s got precious little to do with me, but I’m happy to be a part of it.
Ryan Serhant:	What would you say is, I don’t want to say number one, but why do you think you’ve been successful other than just I’ve worked really hard and you’re smart and like math? There’s got to be more to it than that. You are resilient, right? Persistent.
Marianne Lake:	I will say that there are two things about me that I think are the most true of anything. And again, I don’t know that I’m the only person that’s ever said this, but it is definitely true of me. And there is no one that will be more prepared than me and there is no one that will ever outwork me and so I think those are reasonably sort of good core competencies is to work hard, be prepared and know your stuff and get stuff done. I think that people have trust and confidence in people who know what they’re doing and get stuff done, who actually have a clear appreciation of what they don’t know, know when to ask for help, don’t consider that there are boundaries to their job, that are willing to put their hand up and lean into things that haven’t got very much to do with them, so who are great partners. And then I wouldn’t underestimate the importance of being nice to be around. I know you should never overuse it.
Marianne Lake:	But the number of times that I’ve said to people like, “It is a genuine pleasure to have you on the team,” and that’s not nothing. Right? That is pretty significant. People like to be with people where they have trust and confidence in them because they know that if they need help, they can ask for it. If they can’t do what you want them to do, they’re going to tell you that they are going to work really hard and that they’re going to do it with a smile on their face and a good attitude and be a great partner.
Ryan Serhant:	Thank you so much for doing this and-
Marianne Lake:	Well, thank you.
Ryan Serhant:	Coming into the city amongst the craziness that’s-
Marianne Lake:	I do come in. It’s not just for you, but that’s what-
Ryan Serhant:	Well, I’m going to say it’s just for me-
Marianne Lake:	Of course.
Ryan Serhant:	Because that makes me feel good.
Marianne Lake:	Today was for you.
Ryan Serhant:	Yeah, good, great. Marianne, you were the best. Thank you so much.
Marianne Lake:	You, too.
Ryan Serhant:	And we’ll talk soon.
Marianne Lake:	Thank you.
Ryan Serhant:	If you’re ready to take action today based on Marianne Lake’s entire blueprint for how she got to where she is, go to bigmoneyenergy.com/podcast to download an action plan that I put together for you as well as the show notes. That’s bigmoneyenergy.com/podcast. Find more podcasts like Big Money Energy on the iHeart radio app or wherever you get your podcasts. Big Money Energy is hosted by me, Ryan Serhant. It’s produced by Mike Coscarelli and Joe Laresca and executive produced by Lindsay Hoffman.

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