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  • Writer's pictureJames Berkow

Investment industry’s traditional culture remains a barrier for LGBTQ Advisors.

Written by:

James Berkow

THE GLOBE & MAIL

June 24, 2022


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Read an excerpt below.
When Cindy Marques first entered Canada’s wealth management industry in 2016, the first thing she noticed was its homogeneity.
“It was all a bunch of older white men who didn’t represent who I was or who I wanted to serve,” says Ms. Marques, now a certified financial planner and chief executive officer of Money MakeCents Inc. in Toronto.
As a member of the 2SLGBTQ+ community – she identifies as queer and describes the financial services industry’s culture as “very stiff professionalism.”
During her training with a major national brokerage, “they would tell me not to give up too much of myself, not to connect too much with the client, as if dishing out a personal detail somehow makes the advisor seem less competent and professional.”
That culture makes it more difficult for advisors who are members of the 2SLGBTQ+ community to share that part of their identity, Mr. Marques says. Evidence of that resistance came earlier this year when through her capacity as a board member of the Toronto chapter of the Financial Advisors Association of Canada – known as Advocis – she asked other members of the community to share their stories and experiences.
“I was speaking to a room of 200 people at the time and got nothing, crickets,” Mr. Marques says. “Nobody reached out after the fact either.”
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