HomeWealth ManagementVeteran advisor on the state of women in financial services

Veteran advisor on the state of women in financial services


While Tehranchian says one of the causes   of this gender imbalance is individual choices, she suggests a few concrete steps that the industry can take to attract more women to financial advice. The first is to market itself on that flexibility, which was so crucial in Tehranchian’s early career. The entrepreneurial and self-directed nature of advisory work can be a hugely attractive feature for many women who want to balance their careers with family aspirations.

Advisory firms can go a step further, Tehranchian says, by offering more comprehensive childcare solutions for their female advisors. Childcare can show young women that their firm cares about them and their wider goals in life, while giving them the time and energy required to invest in their careers.

“If we want a new generation of women to come and thrive in this industry, we have to support them by providing that infrastructure of childcare, to help them be able to survive in this career. Because it’s not an easy career,” Tehranchian says. “Whether you’re a man or a woman, I don’t care what your gender is, this is not an easy career. You have  to be tough, you have to be resilient, you have to be able to put up with major fluctuations in your income, which is not for everyone.”

By encouraging more women to become advisors, Tehranchian thinks that the industry can better deliver its services to all Canadians. She says she has differentiated herself as a female advisor and while her practice is roughly 50/50 in terms of gender, she believes that many of her female clients have been more open with her because she is a woman.

Improving the place of women in advice, she says, is part of a wider push towards greater diversity. Canada is an incredibly diverse place and serving people of various backgrounds takes empathy and understanding. Building teams and practices that reflect that diversity can mean communities and individuals feel deeper connections and receive better service.

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