Wealth Management: An Interview with Francesca Rea, CFP®

Interviewers: Nora Cottrill and Samira Yassin, YWiB Toronto Executive

The YWiB Toronto team is excited to have two amazing women speakers for our upcoming Wealth Management: Demystified webinar. Neru Padmanabhan and Francesca Rea CFP® will share important knowledge, strategies, and tips for managing your finances. Wealth management is an area all young women-identified professionals can stand to learn more about, regardless of which stage they are at in planning for their futures. As well, we hope this webinar will show you that there’s no better time to start than right now!

Ahead of this exciting session, we asked Francesca a few questions to get to know her better and give you a taste of what’s in store on July 7th. Read on to learn more.

First off, why don’t you tell us a little about yourself?

I am a mother of two and I’ve been a Financial Advisor for 16 years. I recently switched companies, so I’m currently at Assante Capital Management Ltd. I live in the Toronto Beaches area and absolutely love it. My main hobbies are gardening, running, traveling, and being near the water!

You’ve been working in the financing planning industry for over 15 years. Have you noticed any trends or changes in sentiment when it comes to young women and their finances?

Women are definitely becoming more empowered to be in control of their finances. I think that the need for money management is starting to resonate. They see a need to start focusing on themselves, especially those with partners. A lot of my female clients with partners are thinking about what would happen to them if their partner was no longer around and how can they ensure they have their finances in order and they would be ok? I also think women are becoming more educated as financial literacy is more available and are more willing to take risks than before.

I am also seeing younger clients start to ask about the social impact of their investments, and asking for ESG funds. I would say this is becoming a trend that we will probably see more of with time.

Francesca, as you said, you’re a busy mom and career woman. What would you say to those who may think they’re ‘too busy’ to work on their finances and plan for the future?

Great Question! We’re always going to have a busy life. I think it’s really important for people to start looking at finances as a priority. A lot of people tend to always push it off for another day.  Your finances should be a priority as they fuel your life, goals and dreams!  It’s important to put plans in place to reach your goals and dreams otherwise you will never know what is possible. What I do not want is women to look back on their life years later and regret not making that a priority. 

Live life with no regrets. You’re the master of your destiny, so start now.

Okay, but getting started with increasing your financial literacy and planning for the future can be difficult to navigate. What advice would you give young women who are confused about where to start?

My first thought is definitely to seek out someone; a financial advisor to get started. We do not typically cut our own hair (well, maybe during this time we may have), we do not diagnose our own medical ailments, so why do we look after our finances on our own. We need hairdressers and doctors so why don’t more women ask an expert to help them navigate their financial world? 

A good financial advisor will uncover your goals and dreams, take a look at where you are today, and generate a written financial plan for you. This will put in place proper strategies and how to implement those strategies. You need someone to guide you on the journey and make it a reality.

What is one financial faux-pas you can share with our members?

Do not let fear take over or take away from your financial success. Do not let fear get in your way or lead you to make poor decisions.

Do you mean fear about starting?

Fear can show up in a number of ways; fear of starting, yes, but also fear of facing reality, fear of facing your debt or sharing that with someone. There is also fear of the market; fear may lead you to cash out your investments early or fear of risk. There are many aspects where you might be fearful, but you should not let it take over your investment strategies. That can be detrimental to your success, and that is why you need an expert to guide you through and help you increase your comfort level and capacity.

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We’re excited to hear more advice and wealth management strategies from Francesca on July 7th! Get your tickets here and be sure to pass on the news about this webinar to a friend!

Francesca Rea is a Financial Advisor with Assante Capital Management Ltd., a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. Please contact her at frea@assante.com to discuss your particular circumstances.