KAREN E. SHEA, CIM®, FMA, CIWM, Senior Wealth Advisor & Portfolio Manager, CIBC Wood Gundy, Ottawa, Ontario
KAREN SHEA
"Making People a Priority"
Since 1997, Karen Shea, Senior Wealth Advisor, Shea Wealth Advisory, CIBC Wood Gundy, has been helping clients manage wealth a little differently: she starts by caring. She asks a lot of questions because she knows that it’s the only way to build a strong and lasting relationship with clients.
“You have to understand their story,” Karen said. “You need to know who they are and where they’ve come from – it’s the foundation of every strong client relationship. Without that extra effort, you can’t give them what they need. I care so deeply – the people with whom I work are more than clients to me. They’re friends; family – people with names and vibrant life stories. At Shea Wealth Advisory no one is just a number.”
For Women, By Women
Karen grew up in a loving household, raised by her parents Lesley and Denis, alongside two brothers. Both parents worked, making decent money, but they struggled. As was standard for the time, her father managed the money, with little to no input from her mother. Like many of that generation, my father was the head of the family and controlled the finances.
“My dad passed away ten years ago. My mom continues to struggle with the decisions around what you want and what you need. She finds it hard to make the money last before the month runs out. I know in my heart it shouldn’t be this way.”
Karen didn’t always have such a clear focus. For a long time, she kept a broad client base. Gradually, however, Karen realized intuitively that she had a calling.
Throughout her career, she’d put together seminars working with other women professionals like lawyers, and accountants, to create a welcoming environment for women to learn about vitally important subjects. Wealth; family law; health; estate planning; anything and everything to do with life, from beginning to end.
Between her mom’s experience and the popularity of her seminars, she knew that she needed to make her mission empowering women and providing them the knowledge they need to achieve their financial goals.
Karen has proudly put together a team of all women and created a safe and supportive environment where there is no judgment, and women can ask questions and be heard.
It’s a practice that’s for women, by women – and it’s an approach that’s only getting stronger with time.
Supporting Financial Selfcare
Karen’s focus on education comes from experience.
She’s seen what can happen.
“I started working with a new client, a lady in her 70s. She’d come from a ‘conservative’ Advisor previously and she wanted to continue a similar path. But when we were reviewing her assets, we were shocked to learn that she was holding nearly a dozen stocks that were considered high-risk. When I called her, she had no idea she was invested in so many perilous solutions. But she never felt comfortable questioning the approach – maybe even felt like she didn’t need to. That’s why we are so proactive in sharing information with clients – it isn’t enough to just build a wealth plan that fits their needs. We need to have the deep understanding of their story, which I mentioned earlier, but we also explain not just what their plan is, but why it’s built the way it is and how we hope it will help them achieve their financial freedom. Then we encourage them to ask questions. It’s a collaborative and engaging process that I truly enjoy.”
The exact nature of this process varies from client to client because no two circumstances (or dreams) are the same, and therefore no two plans will be the same.
Karen’s planners will build a financial plan, accounting for the client’s goals. They look for any shortfalls, or potential risks; ensure that a client is considering the taxation implications of any decisions; and, thinking ahead to retirement and their wishes for estate planning.
Karen also recently received the prestigious Certified International Wealth Manager designation, which allows her advice to go beyond borders.
Whether she’s helping them save funds for a child’s education or make a major investment like a home or vehicle, Karen will always go the extra mile.
“Not only do we care, but we also offer some of the best, most comprehensive service around. That will be clear from a client’s very first meeting with us.”
Values in practice
Karen is an animal lover, and mom to Foxy, a foxhound that her and her husband adopted 6 years ago. Karen is an active contributor to the Ottawa Humane Society. She is also working with local organizations to offer free advice to women escaping domestic violence, or poverty, on budgeting, saving for retirement and more.
Karen lives each day to the fullest, giving back to her community and neighbours, because she believes that anything is possible.
“In 2011 my mentor asked if I would be interested in taking on a position of seniority within the organization. It would mean a great deal more responsibility, and pressure. I wasn’t sure. I left on vacation shortly after and thought about what this would mean for my life and family. While away my husband convinced me…somehow…to go skydiving. Never in a million years did I envision doing something like that. When I landed on the beach, it changed my life. I did something so far outside of my comfort zone that I knew that if I put my mind to a task, I could achieve it. It’s something I tell clients all the time: if you have the will to do it, anything is possible – and I’ll be right beside you every step of the way.”
Gary Milakovic is a veteran writer with more than a decade in the public sector and corporate communications. He has covered a wide spectrum of topics and his work has been featured by large and small organizations across Canada. Gary is passionate about communication, his writing often focuses on uncovering the “story behind the story.”
Karen E. Shea, CIM®, FMA, CIWM
Senior Wealth Advisor
CIBC Wood Gundy
Shea Wealth Advisory Team
150 Elgin Street Suite 2100
Ottawa, ON K2P 1L4
613 - 783 -7813