“We’re a small to medium-sized advisor, and I feel like IAA really has our back and advocates for us in Washington—both at the SEC and on the Hill,” she said. “That’s really helpful, because obviously we can’t do that on our own.”
Sonia Kowal
President, Zevin Asset Management
Boston, MA
AUM: $671.5 M
When Sonia Kowal became president of Zevin Asset Management over a decade ago, she inherited more than just a new role—she inherited her firm’s membership in the Investment Adviser Association (IAA). At the time, she didn’t know much about the organization.
“I didn’t even know it existed,” she recalled. “I was more on the investment side of things. Practice management, compliance, operations—all the areas the IAA focused on were not part of my role before.”
But her predecessor, the firm’s previous president, Ben Lovell, left Kowal with a solid bit of advice: Get involved with the IAA. It’s really valuable.
He was right. Although the firm was already a member when she took the helm, Kowal quickly found her own reasons to get involved. She went from being unfamiliar with the IAA to becoming an engaged participant, frequent event attendee and speaker, and ultimately a board member. Today, she brings the perspective of someone who has experienced the IAA both as a new leader seeking guidance and as a seasoned executive helping shape the conversation.
A Voice in Washington for Firms That Can’t Be There Themselves
Zevin is a smaller advisory firm, and Kowal makes it clear that IAA’s advocacy work is indispensable to organizations like hers.
She credits the IAA’s relationships with top-level regulators as a unique advantage for members. “They have the ear of very senior people at the SEC, including Commissioners. I think that’s unparalleled.”
And, unlike many industry groups that rely heavily on political donations to gain influence, Kowal appreciates that IAA operates on principle.
“They don’t do it like a lot of organizations do—by spending a lot of money via PACs and Super PACs,” she said. “I think they do an amazing job without that, and that’s the way things should be done—on the merit of ideas, not how much money you’re giving to people whose decisions impact your business.”
Practical, Timely Guidance That Keeps Members Informed
One of Kowal’s most consistent interactions with the IAA is as a “consumer” of the content they produce. She and her COO/CCO regularly use IAA webinars, alerts, and event resources to stay current.
“I know the IAA knows their stuff. Anything that they’re talking about—I know I should be thinking about it,” she said. “Because it means all my competitors are paying attention to it also.”
She points to the association’s deep connections as a major reason why members are often among the first to hear about changes.
“At the Compliance Conference this year, the SEC Commissioners announced a few things there, to the public,” she said. “It’s pretty amazing when that happens, and it really shows you how the IAA has their finger on the pulse.”
Building Community in a Demanding Profession
Kowal is also a strong advocate for the IAA’s in-person events and roundtables, particularly for the opportunities they create to learn from others in similar roles.
“We’ve built relationships with other RIAs around the country of different sizes,” she said. “We kind of help each other. And the level of sharing that people do—I think it’s really unique in this very competitive industry. It’s nice to know that we’re not alone.”
One of her favorite programs is the IAA Executive Roundtable. These intimate gatherings bring together leaders from RIAs across the country to share insights and challenges, and to offer best practices they’re using to navigate an unpredictable business climate.
“There was a group of 19 of us,” she said of the last Executive Roundtable. “It’s very helpful to see how other people are thinking, to see people you know, and to learn something new while you’re together.”
Although Zevin Asset Management stands out in many ways—as a Certified B Corporation, a 100% employee-owned and majority women-owned firm, and one with a deep commitment to ESG integration and shareholder engagement—Kowal finds real value in connecting with firms that may have very different models or philosophies.
Even when she’s hesitant walking into the room—concerned about political or cultural differences—those barriers tend to fall away in practice.
“I get a little nervous before them,” Kowal said, as a woman executive in a predominantly male industry. “I think to myself, ‘Oh, these are all men who like to play golf, and I have nothing in common.’ But we do have a lot in common—we’re all tackling similar issues.”
Trusted Legal Support—When It Matters Most
While Zevin uses a compliance consultant for day-to-day matters, Kowal still finds value in IAA’s legal team as a resource.
“I was actually emailing with their legal team last week,” she said. “We don’t do it very often, but when I feel like I disagree with [our consultant] or have some question like, ‘What are the regulatory implications of managing overseas assets?’ or something like that—I know I can reach out to the IAA for reliable advice.”
It’s a benefit that many members may overlook, but Kowal sees it as an essential backup.
Supporting New Leaders Through Industry Transition
Kowal sees her own experience as a case study in how the IAA can support leadership succession across the industry—a pressing issue as many founding partners prepare to retire.
“I think I’m a good case study of just being really grateful to the IAA for being there, teaching me things, and offering resources to help me get up to speed really quickly,” she said. “People remember what you did for them, and I think the IAA could play a really important role helping this new generation of leaders.”
Progress, Belonging, and a True Partner in a Changing Industry
While compliance may be what IAA is best known for, Kowal believes the association is evolving in a positive direction. She credits CEO Karen Barr with diversifying both the board and membership experience over the years.
“When I was talking to her about being on the board, we talked about diversity,” Kowal said, noting that Barr’s commitment is reflected in the composition of the IAA’s staff and leadership, and also in the resources, tools, and events the association provides its members. This focus on inclusion is part of a larger evolution Kowal has witnessed during her time with the IAA—one that reflects the association’s commitment to staying relevant, responsive, and representative of its members in a changing industry.
From early guidance and compliance education to board-level involvement and policy advocacy, Kowal’s experience with IAA reflects the organization’s multifaceted value. Whether staying informed, solving real-world challenges, or connecting with peers, the IAA has been a reliable constant in a volatile industry.
“They help us stay in the flow of things,” she said. “And feel like part of something—when we’re all so busy with our heads down, doing our work.”