Creating a legacy one day at a time
‘Holistic advice’ is a familiar phrase today, but the concept was ahead of its time in 2000 when Catherine Wood left her own communications business to start out in financial services.
Her belief in this concept, however, has guided and informed Wood throughout her career. “I just believe Canadians deserve great financial advice, and I’m happy to participate in any business that supports that end,” she says. “I don’t know if I have a favourite achievement, except that I’ve never had to compromise my values.”
Canadians are having a better appreciation of their financial situations, but there is still an exorbitant amount of work to do.
It’s a good opinion or philosophy to have, particularly if yours is the entity charged with providing wealth management behind the scenes, to a wide and diverse population: Qtrade Financial Group, a company better known for its discount trading operations, actually runs the wealth management units for credit unions who might not otherwise afford to offer securities or insurance to members.
In speaking with Wood, she is notably dedicated to those she works with: “Everything you do every day is your legacy – they’re the future. I really make an effort to give back to my employees.” Despite being several levels removed from the front lines, so to speak, her dedication to client-centric planning and service is clear as well.
“Canadians are having a better appreciation of their financial situations, but there is still an exorbitant amount of work to do. Even if they appreciate their financial situation, they’re not necessarily getting the right advice,” she says.
“Directionally, we’re getting closer and closer all the time, towards efficiently and effectively being able to deliver appropriate financial advice to a broader constituency of Canadians,” she adds. “A proper wealth management approach is available, and there is technology that can bring all of the elements together and make it available to everyone.
“There is more work than you can do in a lifetime, but if you stay focused on that (providing wealth management service to Canadians), life becomes simple.”
Wood has an amazing amount of education and industry involvement backing her leadership, as well. Her list of board and committee work includes service on the board of Advocis Peel Halton, chair of the Advanced Planning Committee, and a recent new appointment to the board of trustees at the Institution for Advanced Financial Education. She is a member of CALU, Advocis, a past member of the IIROC insurance sub-committee, the Women’s Executive Network, and Women in Capital Markets.
Her documented skill as an engaged and engaging, collective good and solutions-focused leader, will also come in handy going forward, after Desjardins Financial Corporation acquired a 40 per cent interest in Qtrade in 2013. Wood is also starting to learn French, to help with these new responsibilities as well.
Wood’s advice for those entering the field:
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