WOMEN
MEA N BUSINESS
Richardson GMP’s Partners join the discussion about what female advisors bring to the table
F
inancial services has traditionally been a maledominated industry, but the pendulum appears
to be moving in favour of greater equilibrium
between genders.
This is largely due to overall changes in the role of
the financial advisor. Once a mere stock picker, today’s
advisors must build strong relationships of trust with
their clients if they are to succeed. The key to doing
this is intuition, empathy and compassion – traits that
lend themselves to women’s natural strengths.
At November’s Partners Conference in Toronto,
Richardson GMP Chief Executive Officer Andrew
Marsh boldly stated that women make better advisors,
citing that while men tend to be more focused on
performance, women excel at big picture planning.
One of the reasons for this may be women’s high EQ
(emotional quotient), the innate ability to identify and
manage one’s own emotions and the emotions of others
by listening, communicating and otherwise engaging.
Two recently-published articles in Wealth
Professional and in Investment Executive discussed
women’s involvement and under representation in the
financial services industry. PriceMetrix data estimates
that female advisors make up only 12 per cent of
all advisors in North America, while statistics from
Advocis suggest that number is slightly higher.
Richardson GMP remains ahead of the curve,
with women representing 26 per cent of its advisors
across Canada. JR News spoke with three of the firm’s
trailblazing Partners about the recent headlines, their
personal career experiences, and what is being done to
make the industry more inclusive.
11
spring 2016
JR News
dustry? To be
ream in the
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Mary Rose McGuire
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Alexandra
D I RECTO R
Horwood
Wealth Management
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ct advantage
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the industry.
12
& Portfolio Manager
Wealth
Management
Cielo Carin
Wealth
Alexandra
Horwood
Management
Team & Partners
TORONTO, ON
MONTREAL, QC
Did
relate articles
to the articles
on women
working
Do you
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about women
in financial
services
inalign
the with
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athe
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success,
as I continue
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records at the firm and
man, it but
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gone better
for me.”
serve as its youngest Director, I feel I have proven myself.
Would you say that women have a distinct advantage
To
do you
attribute
success?
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as what
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client
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to This
successfully.
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are naturally
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understanding
and building
trust
withmake
my clients
so that
plays in our favour
as we help
clients
decisions
and
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can achieve
the
results
they
need
to
be
successful
and
at clarity.
secure. My personal values also play a strong role in my
relationships
– I care deeply
forto
myrecruit
clients,and
I work
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Should the industry
do more
retain
I women?
am honest,
I
have
integrity
and
I
focus
on
the
bigger
I think we have to stop patronizing women and
picture.
approach the subject assuming there are no gender barriers
and that the battle has been won. We are not doing anyone
a service
if wefemale
keep falling
into this
women
are
Do
you think
advisors
are trap
ablethat
to seize
more
treated differently
men.clients?
That being
opportunities
withthan
female
Yes, said,
only women
becausewho
wanttraditional
to work inmale
this industry
bethem
prepared
to roll
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some
advisorsmust
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their sleeves
and applywith
themselves
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When
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both spouses
havemust be
committed
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a wholly
voice and
their input
is equallyinessential.
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compromising
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integrity.
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advisor
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Richardson
GMP
supportive
toDoes
my husband
because
theyprovide
believeahe
is the key decision
environment
for want
women?
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theway.
end of the
maker,
and I never
my client
to feelAt
that
day,
Richardson
GMP
treats
women
as
advisors
first, not as
Perhaps that makes female advisors more sensitive
female
advisors.
In
every
respect
we
are
treated
precisely
to this because we have developed empathy. We know as
menitare
treated.
believe
this is why
oursofirm
what
feels
like toI have
it happen
to us,
we has
turna higher
percentage
women compared to others in the industry.
empathy
intoofaction.
How does Richardson GMP support your success?
As owners and partners working in a highly-independent
entrepreneurial culture, we support and benefit from
each other’s success. If you look at Richardson-owned
12
JR News
spring 2016
companies, there is a history of strong, entrepreneurial
“There was a sense of the guys
getting together for drinks after
work or to golf, knowing that I
was left out of the conversation
and missing potential business
Character, care and
opportunities.” Mary Rose McGuire
“competency. I have a
strong work ethic; I
come to Alexandra
work every
morningHorwood
at 6:30am
Do you think female advisors are able to seize more
IRE CT OR,
opportunities with femaleDclients?
Yes, only because
Wealth
Management
some traditional male advisors
ignore
them at their peril.
Horwood
& Partners
When I start working with aAlexandra
client, both
spouses have
TORO
NTO, ON
a voice and their input is equally
essential.
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take part in meetings and are copied on all messages. It is
Did you to
relate
to women
the articles
women
working
important
engage
in theon
process
so that
I can
in
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industry?
As
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a
younger
generation
understand their unique issues and priorities. I knowof
what
ceiling is direct
irrelevant.
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itadvisors,
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heequal
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ALEXANDRA
HORWOOD
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feel
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included.
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highly-independent
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support
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what
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your
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care
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ethic;
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opportunities.
companies, there is a history of strong, entrepreneurial
come
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women including Muriel Sprague Richardson, Carolyn
after did
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How
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and
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mother,
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passionate
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in
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Horwood,
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1980
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akey
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need
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successful
and
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manager’s
designation.
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excited
the
supportive,
respectful
and they
understanding
of
whatabout
it takes
secure.
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personal
values
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strong
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workright
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to
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– Icome
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that motivated me the most.
and stay well
after the markets
close – and I
absolutely love it.
Richardson GMP Limited, Member Canadian Investor Protection Fund.
Why do you think women are still under
represented in the industry? I think that whole “Wolf
of Wall Street” image turns many women off from
thinking that this is something they want to pursue.
Mary Rose
McGuire
at the b
included
for drin
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opportu
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