Dodee Frost Crockett is a managing director and co-founder of the 11-member Merrill Lynch team, Crockett, McBride & Associates, assisting in the management of over $1.5 billion for individuals, corporations and nonprofit organizations interested in wealth preservation, growth and stewardship.
Since its inception 11 years ago, Dodee has been named every year to Barron's annual list of the "Top 100 Women Financial Advisors in America." She has also been listed every year in Barron's "Top 1200 Advisors State-by State," and the Dallas Business Journal named her one of the top five wealth managers in North Texas. In 2016, Dodee was honored with the Baylor Health Care System Foundation Philanthropic Leadership Award for her work in promoting wealth stewardship in the community.
What led you to this profession?
As the daughter of a CEO, I worked in our family business and learned how to run a company in a highly regulated industry. I recognized the importance of integrity in business at an early age. This ultimately led me to join Merrill Lynch as a compliance officer before moving into wealth management, where I've focused the majority of my career.
What's the most rewarding part of your job?
After doing this for 30 years, it's seeing the results of planning and investing for our clients' goals. I've listened and shared the dreams of clients to send their children to Ivy League schools or their own alma mater when the children were born and then watched them graduate. I've helped clients found new businesses, change careers, write books, spend a year abroad with their children and use their wealth to make great community impact. I think the most rewarding part of this role is helping people visualize, articulate and then achieve their goals and dreams. I always have said money is only a servant; it's not a master. Our job is to help maintain, grow and transition wealth so that it serves the client.
You've helped several clients make gifts to the Foundation, including one client who made a gift of $1 million to fund core patient components of the Arts in Medicine initiative at Baylor Dallas. Why is philanthropy one of your focuses with your clients?
We consider giving to be one of life's priorities. Whether it is transferring personal values to a new generation or transferring wealth to create community opportunities or solve social issues, it's one of the great joys we get to witness. Helping clients use their wealth and wisdom to make an impact is part of planning for a great life.
What's something that surprises people about you?
I'm co-owner (with my husband) of Blue Rock Artist Ranch & Studio, a destination commercial recording studio in Wimberley, Texas. My title is "Director of Hospitality and Celebrations," which means that I bake a lot of chocolate chip cookies and birthday cakes. It's very different from my role as an advisor. Most of my professional work plans for events or possibilities that may be decades away. It only takes a few hours to bake a cake and share it!