Jean Smart, the founder and CEO of Penelope, is a former Wall Street executive with over 20 years of experience in financial services. She most recently served as Managing Director, Head of Business Strategy, Corporate and Institutional Advisory Solutions at UBS.
Jean was inspired to launch Penelope during the height of the COVID-19 pandemic after witnessing the struggles of small businesses. As a Korean immigrant and the daughter of immigrant entrepreneurs who owned various small businesses—including a grocery store called Andy’s Fine Food Market, a dry cleaner, and several Japanese restaurants—Jean saw firsthand how her parents cared for their family and employees but were unable to invest in their own retirement, leaving them vulnerable in their later years.
Jean knows her parents’ struggles are shared by many. The U.S. faces a looming retirement crisis, with 57 million workers lacking access to a company-sponsored retirement plan. Many older Americans approaching retirement age simply don’t have enough saved.
Penelope is leading the charge to address this issue with affordable and simple 401(k) plans.
Jean's deep industry knowledge, combined with her Korean heritage, fuels her passion as she develops Penelope, with the goal of disrupting a sector still struggling with outdated systems
Listen here, on Spotify, or watch on YouTube!
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E2: Jean Smart (Founder of Penelope)