When Rachel Pham joined STP Investment Services as Head of Revenue Operations in November 2023, she was confident about making a difference. About a year later, her strategic and visionary leadership has put the company on an impressive growth trajectory. Recently, she overheard someone tell her sales team, “I don’t know what you’re doing, but I am seeing STP all over the place!” Knowing that this visibility is because of her department’s efforts drives her to achieve even greater success. Another key motivator for Rachel is hitting goals.
As the head of revenue operations at STP, Rachel oversees sales operations, data and analytics, sales enablement, and marketing. “I wear a lot of hats,” she says. “I am pulled, therefore, in a lot of different directions.” For her, every single day is different, and that’s what she loves most about her work. “I don’t think a lot of people can say they love what they do, but I absolutely do,” Rachel says. “I will be doing this until my career ends — that is for sure.”
What Is Success?
A goal-oriented leader, Rachel defines success as achieving the targets she sets for herself. For her, success is not about attaining a specific title or earning accolades – it is about envisioning a target and making it happen within a set timeframe.
As the middle child — and the only girl — among two older and two younger brothers, Rachel always felt the need to stand out. Her way of doing that was by setting goals and making them happen. Later, in her 20s, her primary focus was on achieving financial success. Now, her priorities have shifted toward making a greater impact and driving strategic alignment.
Stepping Into Financial Services
In 2008, Rachel graduated from college with a degree in economics. She had no intention of joining the corporate world; instead, she wanted to work for a nonprofit, a municipality, or take on a role in government. But, at the time, the U.S. economy was in the midst of a great recession. So, the advice she received was, “Apply to any and every job.”
She followed that advice and applied to Raymond James Financial in St. Petersburg, Florida, where she is from — Raymond James is often called the alternative to Wall Street. She got the job. “So that’s how I started my career in financial services,” Rachel says. “And then, like most people, it just worked out for me.”
Rachel is a natural when it comes to numbers and sales. She is creative in finding different ways to generate and retain revenue. As she has moved between companies, she has always been drawn to roles involving sales or revenue retention. “I’m pretty good at it,” Rachel says. “I’ve helped grow companies from that standpoint.”
“I see myself doing this for the rest of my career – working in some sort of revenue operations role at a financial services firm,” she adds.
Joining STP Investment Services
Rachel enjoys working in companies on an upward growth trajectory. She was drawn to STP, a financial firm with $400B of assets under administration, because of its growth potential. “It’s more my sweet spot,” she says.
STP offered her the opportunity to run and own an entire area of the firm, making her directly responsible for growth success. “It was a stretch role – leading revenue operations,” she says. STP is majority-owned by Lovell Minnick Partners, a private equity firm.
Previously, Rachel worked at Foreside Financial Group, where Lovell Minnick had held a majority stake as well. As she was already familiar with the company’s owners, Rachel understood how Lovell Minnick managed its investments. This made STP even more attractive to her.
At the time, STP, a growth company, needed someone willing to roll up their sleeves and help define its identity and future direction – where they wanted to be when they grew up. Rachel and Chief Revenue Officer Emmy Bernard took on that challenge together, and in just a year, their efforts delivered tremendous results.
“We were able to grow sales over 100% compared to previous years,” Rachel informs. “We’re looking to double down on that success in 2025.”
The Incredible Year of Her Career
Soon after joining STP, Rachel led the foundational work in revenue operations. In 2024, she and Emmy laid the foundation and built the necessary infrastructure. They then identified their best and current clients and conducted a whitespace analysis to determine how STP’s suite of solutions could address client pain points. The two leaders also established a sales infrastructure and implemented pricing calculators to ensure accurate product pricing. “We now have a robust sales operations infrastructure,” Rachel says.
Additionally, Rachel and her team launched a new vertical, expanding their offerings to include compliance services in addition to fund administration and middle office solutions. Rachel also played a key role in elevating STP to a recognized brand.
When she joined STP, the brand was largely unknown. “I realized that we needed to gain brand recognition,” she adds. They achieved this by introducing a new logo, launching a new website, embracing new brand colors — all these made a significant market impact. Rachel says that they also hired a PR firm and a digital marketing agency.
Due to the foundational work accomplished by them, Rachel believes 2024 has been the most rewarding year of her career. “We are now receiving calls from reporters requesting contributions and expertise for various thought leadership articles in industry magazines,” she says. “A lot has happened this year, and I’m thrilled to have been a part of it.”
The First Leadership Experience
For Rachel, 2014 was a monumental year. She was working as a relationship manager at Raymond James Financial when she decided to take a leap of faith. Both she and her husband were in their late twenties and not yet parents. They wanted to explore new opportunities and live their lives before starting a family. “We really wanted to move,” Rachel recalls.
She sent her resume to Foreside Financial Group, based in Portland, Maine, which also had an office in Pennsylvania. They contacted her as they were looking for someone from the buy side, which was her background at Raymond James. Rachel accepted the job offer.
She packed up everything and moved from Florida to Maine with her husband — where they didn’t know anyone — to start working for Foreside. Many people warned her against the move, questioning, “Who lives in Maine?” or “What company is this?” and asking, “Are you sure this is the best idea?” Rachel didn’t let these questions deter her.
Foreside had hired Rachel to establish their national accounts arm. She says that there was no infrastructure, no leader to guide her, no playbook to follow, and no clients. Rachel, in collaboration with another woman, Sonja Formato, developed the product from scratch. They conducted competitive analysis, priced it appropriately, sold it, and then serviced it.” That effort paid off — it was highly successful. Rachel points out that the department still exists today, now under ACA Group following Foreside’s merger with the company.
“This was my first stretch role in my career,” Rachel says. “Was I ready for it? Probably not. But it’s definitely something I’m proud of. That was my first true leadership experience — both in leading my own career and learning how to lead others underneath me.”
Facing Challenges Over the Years
Over the years, Rachel has faced multiple challenges. When she began working in 2008, she had no experience in the financial services industry. So, for her, it was a real challenge to learn how stocks, bonds, mutual funds, and other investment vehicles functioned. As her career progressed, Rachel encountered more strategic challenges. She says that positioning oneself in a competitive market is always difficult, and she faced this challenge at every company she worked for. According to her, the constant evolution of the industry, ever-changing regulations, and frequent launches of new products also present challenges.
Rachel also points out that being a woman in the traditionally male-dominated financial services sector comes with its own set of challenges. “The industry is changing, but there are still fewer women and people of color at the table,” she says. They are still rarely given the same respect as their male counterparts.
With ongoing diversity, equity, and inclusion (DEI) initiatives and women’s leadership programs, progress is being made, but there is still work to be done, Rachel says. She is committed to this cause — not only as a woman leader but also as someone married to an ethnic minority and raising children of Asian heritage. “I want to make sure that they also have equal opportunities when it comes to this field,” she says.
What Is Next – from Growth Perspective?
Shedding light on STP’s future plans, Rachel says their focus is on continuous growth and evolution. They aim to grow the assets they advise, sales, client base, and the range of products they offer. Rachel says that they will make that happen by setting goals, meticulous planning, and following their roadmap.
“We sell anything post-trade execution — middle office, fund administration, as well as compliance services to the investment management industry,” she says. “Understanding who our buyers are will help drive our growth.”
Rachel believes 2025 will be an exciting year for STP. “We’re already on track to do well, and we’ll continue growing in 2026, 2027, and beyond from a revenue standpoint,” she adds.
As for her personal goals, Rachel wants to continue contributing directly to the growth of STP. She intends to oversee the strategy for achieving their goals and wants to be actively involved in developing a strategy for the coming years.
Her goal is to help ensure that the company grows at a multiple that ultimately works well for their owners.
Leadership Style
Rachel prefers to lead alongside her team. She does not micromanage or hold hands; instead, she gives her team the opportunity to grow and the freedom to carve out their own path. She allows them to take the lead, but makes sure to walk alongside them. According to Rachel, she follows the upside-down pyramid approach. She explains that instead of being at the top with everyone below her, she positions herself at the bottom, supporting her team.
“That’s my leadership style,” Rachel says. “I’m here to help in many different ways — whether it’s helping with a simple task, thinking through a challenge, or rolling up my sleeves and doing it myself.”
If one had to describe Rachel in one word, it would be “resourceful.” She may not know everything, but trust her to know the right people who do. “I tap into resources when I need to,” she says. She doesn’t hesitate to lean on subject matter experts in various areas. “I think in the role I’m in, where I wear many hats, I’ve become a jack of all trades,” Rachel says. “I’m very resourceful.”
The Inspirational Figure
For Rachel, Emmy, Chief Revenue Officer at STP Investment, is a source of inspiration. Before joining their current organization, the two previously worked together at Foreside Financial and ACA Group. “We’ve gone from firm to firm together,” Rachel says.
Emmy has held roles typically dominated by men and is unapologetically herself. “It doesn’t matter who she has sitting around the room — she’s going to stand up, share her opinion, and not back down,” says Rachel, who finds it especially inspiring as a woman to report directly to another woman in the male-dominated space.
She also recalls how Emmy gave her the opportunity recently to present at a board meeting — something typically reserved only for the executive group. She said, “Rachel is the one making all this happen, so I want her to present it directly to you and share the success we’ve had.”
Emmy’s confidence in her has inspired Rachel to move forward. “Emmy is my biggest cheerleader, and I’m very grateful for her guidance,” Rachel says.
Message to Aspiring Leaders
Rachel advises aspiring leaders to keep going, take chances and risks, and raise their hands for stretch roles. She encourages them to get a seat at the table. “If you’re confident in who you are and you know what you can produce, then do it,” Rachel says.
She also underscores the importance of hard work. “You’ve to put in the work to make things happen,” she tells aspiring leaders.
Still Plenty to Achieve!
Rachel doesn’t believe she has achieved everything she dreamed of achieving. “There’s so much more I want to accomplish,” she says. She shares that she wasn’t given a silver platter. She grew up relatively poor as a middle child and was the first in her family to graduate high school, and college, and earn an MBA degree. “I didn’t have someone to show me the ropes from a family standpoint,” Rachel says. “Everything I’ve accomplished has been directly through the fruits of my labor — and I’m absolutely proud of that.”
