Linda Shick, a seasoned senior portfolio manager and wealth advisor, shares her journey and insights in the world of finance. Her story is a testament to the power of early financial education and the impact of personal experiences on professional success. With a unique background in teaching and a passion for helping others understand their finances, Shick has carved out a successful career in wealth management.
Early Financial Lessons
Shick's first money lesson came from her parents, who instilled in her the value of hard work and the idea that nothing comes for free. This early education, combined with her experience running a household at 14 due to her mother's illness, taught her independence, accountability, and a strong work ethic. These qualities have been integral to her success in the financial industry.
The silver piggy bank, a keepsake from her childhood, introduced her to the concept of 'paying yourself first.' This principle, often overlooked by adults, is a cornerstone of her client work. Shick emphasizes the importance of delaying gratification and consistently saving and investing to build long-term wealth.
A Teaching Passion
Shick's original aspiration was to become a teacher, a dream that found its way into her financial career. She spent hours 'teaching' stuffed animals in her basement, a playful reminder of her love for education. This passion for teaching has evolved into a significant part of her current role, where she educates clients on their finances, helping them make informed decisions and build wealth.
The Power of Partnership
One of the most crucial moves in Shick's career was building her business through partnership. She partnered with her father, who was managing the IT consulting practice at PricewaterhouseCoopers. Together, they took the Canadian Securities Course and started an advisory practice at Nesbitt Thomson. This experience taught her the value of shared capacity, perspective, and resources in enhancing the client experience.
The partnership with her father also showcased the potential for reinvention later in life. At 60, her father found a new career path, and Shick learned that age is not a barrier to starting or changing careers. This lesson has been instrumental in her choice of partners, including David Angas, her trusted partner at Family Wealth Counsel Advisory Group for 30 years.
The Future of Financial Services
Shick predicts that longevity will significantly impact the financial services industry. As AI automates technical tasks, advisors will focus on integrating financial planning with health care, emotional well-being, and multi-generational caregiving. This shift will require advisors to navigate complex issues like mental capacity, legacy planning, and inheritance readiness.
Advice for Aspiring Advisors
Shick advises those interested in entering the financial services industry to be prepared for hard work and to prioritize client needs. She emphasizes that trust is earned over years, not through shortcuts or sales tactics. This relationship-driven business requires a deep commitment to serving clients and understanding their unique financial needs.
A Fictional Financial Advisor
When asked about a famous person or fictional character who would make a great financial advisor, Shick chooses Violet Crawley, the Dowager Countess of Grantham from the series 'Downton Abbey.' She praises Crawley's empathy, commitment to legacy, and ability to adapt to change, making her an ideal financial advisor with wisdom, discipline, and a modern approach.
In conclusion, Linda Shick's journey from teaching stuffed animals to becoming a renowned wealth advisor showcases the power of early financial education and the impact of personal experiences on professional success. Her insights offer valuable lessons for both aspiring advisors and those seeking to improve their financial literacy.
