Episode 043
Theresa Conti
How do you build a million-dollar business in a highly technical and regulated field? In this episode of Women’s Million Dollar Conversations, Alice Tang sits down with Theresa Conti, the founder of Sunwest Pensions. Theresa shares her journey of leaving a corporate role to build a specialized Third Party Administrator (TPA) firm that prioritizes personalized service over automated shortcuts.
Theresa discusses the mindset shift required to move from an employee to a business owner and reveals how her commitment to “High-Touch” service allowed her to reach and maintain the million-dollar milestone. If you are a professional in a technical field looking to scale your own firm, Theresa’s insights on reputation and expertise are essential.
In this episode, you’ll learn:
-The strategic steps Theresa took to launch Sunwest Pensions.
-How she reached the $1M revenue mark by focusing on a specific niche in retirement plans.
-Why Theresa views money as a tool for creating security and professional independence.
-Tactical advice for building a reputation as a trusted technical expert.
"My advice to everybody is be who you arem be authentic, and don't be somebody different because that's what you think somebody expects of you."
[00:00:00]
Welcome to Women’s Million Dollar Conversations with Alice Tang, where we share stories from successful business women who have saved, earned, or sold over a million dollars and discuss how they build their success and insights to help you achieve your goals. Now let’s join the conversation.
[00:00:18]
Alice Tang: Good morning, everyone. I’m your host, Alice Tang, for Women’s Million Dollar Conversations. This morning, I have the pleasure of sitting with one of my new friends who feels like a very old friend because we can talk for hours about life and money. She is Theresa Conti. Theresa, welcome.
[00:00:40]
Theresa Conti: Thank you. Thanks so much for having me today.
[00:00:46]
Theresa Conti: I’m excited to be here and share my story, and I feel the same way. I’m happy that we are new friends.
[00:00:55]
Alice Tang: Theresa, would you tell us a little bit about your background? I know you recently sold your business, so you’re entering a new chapter before we really talk about money.
[00:01:05]
Theresa Conti: Yeah, in some ways I really do feel like I’m a new woman. For 25 years, I owned my own business in the retirement plan space, and I’m very thankful for that experience. It’s given me a new outlook on life. I’m still in the retirement and financial services space, but now I really want to help women succeed. That’s my new passion and where I want to take the rest of my career.
[00:01:45]
Alice Tang: You’re still very active in the industry, attending conferences and staying connected, which is great.Play Intro
[00:01:55]
Alice Tang: What’s the value of money for you?
[00:02:00]
Theresa Conti: The value of money is interesting because it definitely changes over your lifetime. When you’re a kid, having a few dollars in your pocket is very different than what it means today. For me now, money represents security. It’s knowing that I’ll be able to live out my life, enjoy life, and have peace of mind.
[00:02:30]
Alice Tang: Security — and it also gives you freedom to travel, attend conferences, and spend time with friends.Play Value of money
[00:02:45]
Alice Tang: Would you tell us how you got to your first million dollars? How long did it take, and were there any hurdles or biases you faced along the way?
[00:03:00]
Theresa Conti: I’ve technically hit that million-dollar mark a few times through my business, but what surprised me was realizing I had over a million dollars in my 401(k). I started my business in 1998 and launched my retirement plan in 1999. I didn’t max it out every year, but I contributed something every year. That regular savings really adds up over time.
[00:04:00]
Theresa Conti: There’s this idea that retirement plans don’t work, but I disagree. I’ve seen firsthand that consistent contributions over 25 to 26 years can result in a substantial amount. It was honestly a nice surprise when I reached that milestone.
[00:05:10]
Alice Tang: That’s such an important reminder — small, consistent contributions compound over time.
[00:05:25]
Alice Tang: What are some of the biggest hurdles or biases women face when saving toward their first million?
[00:05:35]
Theresa Conti: One big hurdle is when women step out of the workforce, especially working moms. They might think saving isn’t important during that time, or that their spouse’s savings are enough. But it’s critical to understand why saving matters and to restart as soon as possible when returning to work.
[00:06:20]
Theresa Conti: I also see younger women doing a great job saving early — putting in 18% plus employer matches. I always tell them: don’t touch it. You’ll want that money later. Even if you can only contribute a small amount, start somewhere — especially enough to get the employer match.
[00:07:30]
Theresa Conti: Another hurdle for me personally was being a woman in financial services. That came with its own challenges, but that’s probably another podcast.
[00:08:05]
Alice Tang: We’ll save that one for another episode.
[00:08:15]
Alice Tang: You also had a supportive husband in this journey.
[00:08:20]
Theresa Conti: Yes, though he wasn’t always a saver. He grew up in a paycheck-to-paycheck household, and we lived that way for many years too. But I understood that eventually we’d want to retire, and even if the business didn’t work out, we’d still have our retirement savings.
[00:09:20]
Theresa Conti: I often remind business owners that only about 17% successfully sell their businesses for a large payout. Things happen — recessions, pandemics, bankruptcies — but retirement accounts are protected and always yours. Your business shouldn’t be your only savings plan.
[00:10:35]
Alice Tang: That’s such an important perspective for business owners.Play Bias
[00:10:50]
Alice Tang: Was there ever a time you felt like you couldn’t do it? What kept you going?
[00:11:00]
Theresa Conti: There were definitely hard years. As a business owner, you have good years and bad years. Some years we couldn’t make large contributions. But in good years, I made sure to take care of myself and my employees. I auto-enrolled employees at 8% and encouraged saving.
[00:11:55]
Theresa Conti: My advice is to contribute consistently through payroll deductions and then let it go. Don’t overthink it. You’ll be surprised at the end by how much it grows.
[00:12:40]
Alice Tang: Do what you can with what you have — especially when unexpected expenses come up.
[00:12:55]
Theresa Conti: Exactly. Revisit your savings every year. If you get a raise, increase your contributions. Those little things add up over time.Play What kept you going
[00:13:20]
Alice Tang: What is one piece of very good advice or very bad advice that had the biggest impact on your life?
[00:13:30]
Theresa Conti: Bad advice was thinking I couldn’t do it — that I didn’t have what it takes to run a business. I proved that wrong. Good advice is taking care of yourself and being authentic. Be who you are, not who you think others expect you to be.
[00:14:25]
Alice Tang: That really resonates, especially for women who look up to you.
[00:14:35]
Alice Tang: Last question — what are you grateful for?
[00:14:45]
Theresa Conti: I’m grateful every day for my health. I’m a breast cancer survivor — nine and a half years cancer-free. I’m thankful for that and try to do something for myself every day, even if it’s a short walk. Health is mental, physical, and emotional.
[00:15:30]
Alice Tang: Theresa, I’m so grateful for you and for sharing your journey. Thank you for empowering our audience.
[00:15:45]
Theresa Conti: Grateful for you as well. Thank you so much for having me.Play Grateful
Theresa Conti started Sunwest Pensions in 1998 and sold it to July Business Services in 2023. Theresa also holds many designations including a QKA with ASPPA, APR with NIPA, CPFA with NAPA and an ERPA with the IRS. Theresa also volunteers frequently with many industry associations such as NIPA where she chaired the annual conference committee and was a board member for 11 years. She is part of the Board of WIPN where she serves as chair of the National Programming and Research. She also serves on the Plan Consultant Magazine committee with ASPPA where she contributes regular articles and speaks at webinars and annual conferences. She also serves on the board of Junior Achievement of Arizona and the Fountain Hills Community Foundation. Theresa still is working with July Business Services on various projects along with launching a podcast called “Step into the Pivot” and working as a Business Coach with TPA Business Owners and a Life Coach with several women in the retirement industry.