With consolidation in the financial services and the increased costs from regulation and technological innovation, a young advisor today might wonder if there’s anywhere to start out other than at the big banks.
In contrast, when Marie DeLauretis launched her career almost 20 years ago, she wondered if there was anywhere to start at all. She’s a financial planner and principal at DeLauretis Wealth Management in Calgary.
“There was unequal opportunity,” she says, as well as unequal pay. At her firm, “the guys were financial advisors and the women weren’t.”
Nor were women encouraged to pursue industry designations. When it became clear she wouldn’t become an advisor at the firm, “I left and branched out on my own and became an independent at the end of 2006,” she says.
DeLauretis notes that in about 2010, the industry started recognizing the value of women advisors.
Around that time, there was a push to have women in the office to serve female clients and attract new ones, “because women were relating to women,” she says.
Shared experiences and changing demographics are likely part of the reason.