Marg Franklin on mentorship

Margaret E. Franklin, CFA, is Immediate Past Chair, CFA Institute Board of Governors. She is also president and CEO of Kinsale Private Wealth Inc. Previously, she was a partner for eight years at KJ Harrison & Partners. Before transitioning to the private client side of the business, she spent more than a decade in institutional asset management. In May, Franklin joined us as our keynote speaker at “Investing in You,” where she spoke about her experiences with mentorship and her vision for increasing the number of women in the industry.

Q. Who were your mentors?

A. I had a few people who really believed in me and gave me good opportunities, but I haven’t had many mentors. Part of the reason is I’m 46 years old and the group of women who were 10 years older than me was a very small cohort. Also, they had to break through glass ceilings, so they weren’t prepared to just hand it over to some 30-something. [Instead], my strategy has been to always have a vision of what I want to be.

Q. What needs to happen to bring more young women into the industry?

A. When I talk to students they’re really not aware [of the opportunities in finance].

They see investment banker, they see Wall Street but they don’t have a differentiated view on the jobs available and how those opportunities might match up well with their career and life goals.

I say, “It’s intellectually challenging, it pays really well, you stand a better chance of standing out because you are a woman and there are so few of us in the business, and you can have a good home life.”

Q. How do you mentor other advisors?

A. I budget a few hours each month for women who often call to get advice or perspective. I see that as my obligation because I’ve had some great breaks and some good people [helped me] along the way. It only takes one or two people to make a real difference. Never underestimate the power you can have on a young woman’s life.

Melissa Shin

Melissa is the editorial director of Advisor.ca and leads Newcom Media Inc.’s group of financial publications. She has been with the team since 2011 and been recognized by PMAC and CFA Society Toronto for her reporting. Reach her at mshin@newcom.ca. You may also call or text 416-847-8038 to provide a confidential tip.