INVEST IN WOMEN | WOMEN IN PLANNING
of gratitude is abundant for the women who have stood up , walked on stage after stage , and shared their voices at conferences and on social platforms . I want to recognize the industry consultants ( Lindsey Lewis , Kahne Krause , Ashley Ilardo , to name a few ) who have created platforms for women to express themselves . In addition , I feel it is important to highlight some of the women who persevered through the career tracks of advisory firms to get to where they are today , spearheading change as shining examples of representation for women .
CEOs like Heather Fortner , Kamila Elliott , Lauren Oschman , Neela Hummel and Mary Beth Storjohann have risen to the top through humility , kindness , authenticity and a true sense of purpose . All these women have their own stories of tribulation and triumph that show it ’ s possible for women to hold the most powerful positions in an organization . Their leadership style reminds us that CEOs don ’ t need to be egotistical or ironfisted . They do need to be strong , persuasive and competent , and these women are . You can be even more effective if you focus your energy on empowering an organization by loving the people who are under your charge , and thoughtfully leading with openness , transparency and a vision that benefits clients , team members and their communities . I ’ d also like to acknowledge the amazing COOs who have broken the glass ceiling of “ glorified secretary ” and hold true power and responsibility at the table . Women like Yonhee Gordon , whom I see as a trailblazer for women in financial services . She was one of the first to step on stage and showcase the power of a female leader . Susan Dickson , who is now retired , was also one of the first women to redefine what it means to be “ second in command ” and lead with a heart for the culture , not just the business . There are so many more COOs who are making a significant impact through their drive , humble strength and determination to run organizations
“ If we want to best serve our clients , now and in the future , we must continue changing the face of advisory firms to include more women , which will in turn achieve greater gender equality throughout the industry .”
— Stacey McKinnon
that build the team and culture for an amazing client experience . Thank you for all you do : Kara Armstrong , Martha Post , Kristi de Grys and Channing Olson .
And finally , I want to thank the chief marketing officers who have completely disrupted this industry over the past two years . Back in 2018 , at my first conference , a marketing department was reserved for only the select few . But women like Cammie Doder , Abby Tuke and Angela Giombetti have greatly influenced the evolution of the CMO role at advisory firms . They are not only showcasing their firms with sophistication and grace , they are also showing up outside the four walls . Cammie hosts a podcast that reminds all of us to take better care of ourselves , and Angela is showing up at many industry events , paving a way for future CMOs to do the same .
These women have all pushed past bar- riers and started changing the face of advisory firms . While women are still holding only about 20 % of leadership roles within financial services , I can feel the change happening . This industry is moving forward from the “ boys club ” of the past and embracing the benefits of gender equality . There is so much to be gained from equal representation , including the following lessons we can learn from the women who have paved the way :
1 . Compassion , empathy and care are traits of strong leaders . Future generations are not going to stand for aggression , malicious behavior or dictatorships . People want to be treated well and feel cared for in their place of work .
2 . “ Diversity of thought ” leads to better outcomes . When you put a group of like-minded people together , you get status quo results . As firms learn to value and incorporate more powerful women into leadership roles , they ’ ll find that their ideas and strategies become more creative , thoughtful and innovative .
3 . We need to promote women out of the glorified secretary role . One of the biggest challenges women face in advisory firms is that they are really good administrators , so they aren ’ t given the opportunity to move up or forward because there are fears that their replacements won ’ t be as good . This is unacceptable . Our industry has to acknowledge the unknown and embrace the possibilities .
In the last five years , financial advisory firms have changed for the better . I ’ m proud that we now have advisors and leaders who represent the clients we serve , but there is still opportunity for women to have more of a leadership presence . We must continue thinking outside the box , give opportunities to more women to shine , be a light for others , and focus on representation . If we want to best serve our clients , now and in the future , we must continue changing the face of advisory firms to include more women , which will in turn achieve greater gender equality throughout the industry .
STACEY MCKINNON , CFP , is chief operating officer , chief marketing officer and partner at Morton Wealth .
36 | FINANCIAL ADVISOR MAGAZINE | MARCH 2024 WWW . FA-MAG . COM