By Selena Woo, Vice President, Advisory Services – Associates and Operations
In November 2022 Selena Woo, Nicola Wealth VP Advisory Services – Associates & Operations, was named one of Wealth Professionals’ 5-Star Leading Women in Wealth. In this blog, Selena reflects on what this means to her and why this award is so important.
When I started my career, I wasn’t sure where the path would lead. As I began to crystallize my vision and navigate my way into the financial and wealth management industry, one thing became clear: I knew I would be entering a challenging, high-pressure field — one traditionally dominated by men, and I wanted to have a part in changing this narrative.
Throughout the years, my roles within the wealth management industry continued to expand and grow. No matter what changes my role saw, I kept coming back to what I was truly passionate about: fostering an inclusive community and advocating for women’s rights and equity. I saw an opportunity to act as a mentor, support system, and to use my voice to help lift up the women around me. And that remains the case to this day.
With over 20 years of experience in the wealth management field, I recognize that success is not just about the bottom line or individual ambition. The success of any firm starts with creating an engaging and welcoming culture. Since starting at Nicola Wealth in 2017, I have been able to thrive being at a firm that truly believes in elevating and supporting women.
Finding and building a strong network of cheerleaders and role models has helped to pave the way forward for me and I am lucky to be surrounded by strong women leaders and colleagues. Working alongside like-minded, driven, and collaborative colleagues, both men and women, inspires me to lead with a growth and abundance mindset while fostering a caring and safe environment that nurtures success. Being surrounded by these people has made me more committed to continue to grow the presence of women at our firm and in the wealth management industry at large.
5-Star Leading Women in Wealth Award
I was very proud to be recognized recently by Wealth Professional as a recipient of their 5-Star Leading Women in Wealth Award. Each year, Wealth Professional looks to spotlight ground-breaking women of influence and discover more women leaders who have been making their voices heard. It’s an honour to be named amongst such inspiring leaders.
Receiving this award has made me reflect on where the industry was when I started, where it is now, and where it is going. In my experience, attitudes towards diversity in the industry and conventional thinking have changed — women are getting more senior roles; women are becoming advisors; the psychology of how women invest versus men is being taken into account in financial planning. As an industry, we are thinking of the role women play in all aspects of financial growth and stability.
Promoting and celebrating women in wealth
It takes a community to fully dismantle the biases women face and even more so for BIPOC women. We need allyship to cheer alongside us; however, that community grows through amplifying more diverse voices and collectively, our voices are stronger together.
Having more BIPOC women role models is critical to building confidence for others to pursue senior and executive level roles and to help carve a path forward for our future generations.
One of the many ways we can continue to promote and amplify the voices of women in wealth is through action; providing networking opportunities during the day as opposed to after work hours, putting names in front of senior leadership, opening doors for promotion opportunities or internal movement, and providing stretch opportunities to elevate the profiles of minorities.
My time at Nicola Wealth has allowed me to create platforms and communities that are oriented around meaningful actions that help promote our incredible team. As a committee member of Nicola Wealth’s Women’s LEAD Initiative and host of the Women’s LEAD podcast, a movement dedicated to celebrating, developing, and empowering women, I am committed to amplifying the voices of women from all backgrounds, spreading awareness, and educating the community on their unique experiences in navigating challenges in the workplace.
The power of women in the community
I think it’s so important to get women both a seat and a voice at the table and recognized for their work – it doesn’t stop at the boardroom. We need to continue to advocate for women in all facets of life — professionally, in the community, and in our relationships.
One of the amazing organizations that I want to highlight is a community-based initiative called CAN Fund #150Women, a philanthropic community dedicated to supporting women athletes.
The philosophy of this community is to “BE EPIC.” I work to embody this philosophy of self-love and courage, and always look to remember the importance of risk-taking in pursuit of greatness, while at the same time leading by example to empower others to strive for the same. This is something that drives me, both personally and professionally.
Though I’ve established the direction of my career path now, I know no matter where I end up, I’ll always look to find ways to support and advocate for diversity and equality in my community. It’s important to me to be a part of something bigger than me and my day-to-day, and my continued motivation is to hopefully be an inspiring role model for diverse leaders.
Selena Woo is the Vice President of Advisory Services – Associates & Operations at Nicola Wealth. To view her podcasts, click here. To read her blog about creating an inclusive workplace, click here.
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