About three years ago I got together for breakfast with a fellow wealth advisor. At the time we were practicing at different financial institutions. I had met Melissa at the inaugural Fore-Play for Charity Ottawa Women’s Networking Golf Tournament (2015).

At the tournament, we realized that, while we’d both been working in Ottawa, in Wealth Management, for over 20 years – we’d never met! How is that even possible, we both wondered, considering that only about 15% of wealth management advisors in Canada are women.

So at our breakfast, after sharing our respective stories, we decided that we would take action to move the needle on that percentage.

I found some interesting statistics on the Catalyst website (catalyst.org). Catalyst is a global non-profit organization that addresses a range of issues surrounding women in the workplace. Catalyst research states in Canada in 2014 more than half the new lawyers were women (although significantly fewer women than men make partner. Hmmm.) Similarly, in 2016, half of Canadians in accounting were women.

Looking at these stats today, I wonder, why are women under-represented in wealth management. And more importantly, what can I do to help change that?

Melissa and I agreed that a good starting point was to get the women we know in the industry together to share their perspectives and brainstorm solutions. 15 people showed up for breakfast that first January in 2016. Many of us had experienced similar paths: higher education, starting a successful career, and some of us choosing to start a family with less than a month off work! At that time there wasn’t much support, mentorship, or many role models for women who were passionate about both their families and their careers. Sharing our stories revealed more commonalities in the business than differences.

It’s 2018 and we still meet about four times a year to talk about our work, our industry and our outlook. We refer to ourselves, informally, as Women in Wealth Ottawa and our group includes IIROC registered advisors from different companies. We meet in a spirit of collaboration. We’ve started expanding our gatherings to include speaking to women in local business programs to encourage them to consider wealth management as a career option. We are also planning to attend business school galas, and further contribute to our communities. For example, we’ve entered a team in the SHOPPERS LOVE. YOU. Run for Women to help raise funds for mental health (more on that next week!)

Do you belong to a professional group that encourages mentorship, peer-to-peer collaboration and community support? What do you value the most about connecting with others in your profession? I’d love to know. Leave a comment through our Contact Us page. If you want to know more about Women in Wealth Ottawa, let us know. Email us here and let’s start the conversation.