Millicent Hicks, CFP®, CIM®, FCSI®, FEA®, Senior Wealth Advisor, Portfolio Manager, CFP®, CIM®, FCSI®, FEA, Portfolio Manager, Millicent Hicks Group, ScotiaMcLeod, St John's, Newfoundland
- NATALIE NOBLE
- 1 day ago
- 8 min read
Millicent Hicks
“Clients have built this beautiful thing; now we’re going to protect it, and all the people involved.”
Set in scenic downtown St. John’s Nfld. with office views of St. John’s Harbour, Millicent Hicks, CFP®, CIM®, FCSI®, FEA®, and her team are focused on growth via holistic wealth planning and client-first service. “This is our biggest year yet for client referrals from our existing client base,” says Millicent, Senior Wealth Advisor and Portfolio Manager at Millicent Hicks Group of ScotiaMcLeod. “That means so much to us because it shows our clients feel confident in us to also take care of their friends and family.”
Although she’s humble – listing going to work every day to make a difference for her clients as her biggest reward – Millicent’s work is recognized through some respected external parties. In 2022, she was named one of Canada’s Top Wealth Advisors by The Globe and Mail’s Report on Business, an accolade that showcases the most effective and successful wealth advisors across the country. This year, an Atlantic peer group of colleagues nominated her for the Keir Clarke Collaboration Award, in recognition of her sharing of best practices with her colleagues across the region.
“Not only do I give back with my time and money, but I love to give back with knowledge,” says Millicent. “I believe mentorship is so important. In Atlantic Canada, we have a group, made up of younger Advisors who are building their own practices or who are essential to senior advisors’ business succession as they retire. We call this "The Next Gen Group." says Millicent. “I believe collaboration is essential within our firm. I share best practices within our office, throughout our region, and across the country. I’ve also lectured at the local university to reach the new wave of up-and-coming professionals on financial literacy at a time they’re building their own financial habits.”
That passion for mentorship and educating is a natural progression of Millicent’s early desire to be a teacher. In fact, it was the influence of her 11th grade physics teacher that sparked her interest in the world of finance. “He talked about investing, the ‘rule of 72,’ compounding interest, and that if you start young, you can grow wealth. I took that to heart” says Millicent.
As she pondered her next steps after graduation, Millicent felt a lack of guidance in her pursuit of a post-secondary education. “At 17, I had an itch to be a teacher, but I also carried that interest in investing,” she says, adding that when her parents moved away at that time, she chose to stay behind, moving in first with a foster family that changed the trajectory of her path, and then with her boyfriend Steve – now her husband of 20 years – and his family. “So many people gave me a solid footing and support system, I want to do that for others.”
Millicent’s wealth management work unites that ingrained desire to learn and teach with her natural inclination to strategically grow money. “I’m so happy today because I have the best of both worlds. I teach every day. I educate my clients and I learn so much from them,” she says. “I have the flexibility I need in my schedule to balance family time and to excel in my career. I’m rewarded through empowering others coming up under me to have successful careers and family lives. My long-term plan is to be a team of 10-plus where everybody elevates, while empowering more people in our community to do well too.”
Empower through education
Millicent quickly overcame her uncertainty around post-secondary education, spending 2003 living and working in Ottawa, and driving to Algonquin College each Wednesday evening to attend class and earn her CFP®.
“That was a big year. I wrote the CFP exam, got married, and bought a house, all in the same four months,” says Millicent. “Achieving my CFP designation established the educational background that drives me to support my clients holistically. Every client, new or seasoned, has a different situation and each family comes with many nuances. They have to feel comfortable to disclose private details so we are prepared for anything and can continue to plan for their future.”
As her business has continually grown along with her daily workload, earning her Chartered Investment Manager (CIM®) designation in 2019 supported Millicent’s growth goals while keeping the practice client focused. Today, she is especially excited about her Family Enterprise Advisor (FEA) designation. “People spend their lifetime building complex businesses, but often, they haven’t necessarily planned how they will transition it when the time comes,” she says. “When it comes to families, things become complicated – maybe there are multiple children with varying levels of interest in the business; maybe addiction or mental health issues are a factor, have they considered who actually wants to step into leadership roles? These are questions that we’re here to walk them through and come up with a viable plan for everyone involved.”
Supporting family businesses, Millicent explains, means understanding the personal familial aspects, and the more formal pieces such as building governance, establishing processes, and opening pathways to more meaningful and healthy conversations. “We start with the parents who established this company not knowing what it would grow into. Then we have their children, the second generation. Imagine the complexities that occur as their children bring spouses, and potentially divorce, maybe stepchildren into the equation. Then, there’s a third generation, including cousins within the network of interested people, now what?” she says. “My role is helping them understand that we’re going to work to protect everything they’ve built but also protect all the people involved. We build a process so it doesn’t matter who’s running the company, everything should run smoothly and as we’ve set it up to work.”
At Millicent Hicks Group, our follow through with our commitments is key. “When we say we’re going to do something, we do it,” says Millicent. “But it’s not a one and done. We follow up. We stay proactive in our communications so clients always know they’re taken care of.”
Every client relationship begins with a comprehensive discovery process that looks beyond balance sheets, covering family dynamics, business structures, and long-term intentions. From there, Millicent coordinates a trusted circle of tax, legal, insurance, and estate professionals, while her internal team triple checks the plan through multiple layers of review before it’s presented and implemented.
What’s not to love about working with Newfoundlanders?
Much of Millicent’s clientele is based in St. John’s, but about 40 percent live three or more hours away. “I just love Newfoundland and all it stands for. I’m from central Newfoundland and I’ve been building client relationships there since 2003,” she says. “I love the clients we serve in all the communities we reach.”
The Millicent Hicks Group welcomes clients in all stages of life and varied backgrounds. They get especially excited to tackle complex financial needs that require holistic wealth management solutions and strong partnerships with clients. One interesting development is a group of engineers Millicent serves. “I started with one 20 years ago. Ten years ago, he introduced me to the group of associated engineers he works with,” says Millicent. “Because they’re so detail oriented, if you nail that unique skillset and communication style, those relationships are lasting and loyal. At this point in time every engineer in that unit works with us!”
She also works with clients who have recently lost their spouse. “They’re looking for someone they trust has their best interest at heart as they navigate a really difficult time, and we really go through all those stages of grief and transition with them,” says Millicent. “Most of them have never completely dealt with the finances themselves and have no idea where to start. It’s about empowering them to feel comfortable in these conversations. Our job goes beyond investments and portfolio management; whatever people need help with, we’re their people.”
Asking Millicent about her last two-decades’ most memorable career moments brings stories that invoke warm laughter and some tears. “When you make a big burly man cry because you’ve assured him his working days can be behind him as the financial plan we’ve been working on is finally coming to fruition – after he’s been the breadwinner, saved all the money he could while his supportive spouse held everything down at home and with their children – to tell him he has sufficient assets to retire and enjoy the life he’s always wanted for his family, there’s nothing comparable,” she says, adding that she’s also enjoyed a shift as she’s serving larger numbers of women who are the primary breadwinner for the family. “Delivering that message of a secure retirement on the horizon for these hard workers with confidence and clarity, backing it up with numbers and cash flow reports so they can see it, that’s something you don’t forget.”
When the stars align
Blending support and community, ScotiaMcLeod has long been home for Millicent, starting with her long-time Regional Manager, Greg Payne. “Greg would advocate for me in the rooms I wasn’t in. He’s a big reason I’m still here with ScotiaMcLeod and I believe he’s a big part of my success today,” she says. “Everybody needs an advocate and a mentor, no matter your position or compensation. These relationships are beneficial for both sides, you’re giving back, learning, and motivating each other.”
Through initiatives like “Women of Wealth” at ScotiaMcLeod, Millicent has a community that shares information, best practices, and support. “At any challenging point in my career, I’ve been grateful to have these women to lean on and support me through,” she says.
“One of the biggest reasons I’m so proud to work at ScotiaMcLeod is the culture of giving back,” she adds. “I’m Treasurer of the Board for our ScotiaMcLeod Charitable Foundation, a national initiative that advisors from B.C. to Newfoundland contribute to through payroll, stock, or one-time donations. Once a year, any ScotiaMcLeod employee that volunteers in their community can submit a nomination to win an award. In 2013, there were three $10,000 awards given; by 2025, it grew to one-hundred awards for a total of approximately $950,000, and we have a very healthy long-term fund to ensure that growth trajectory of awards continues.”
Millicent brings that charitable spirit close to home. “Besides a fun team activity, our team volunteers every second month. During the holidays, team members select a charity that’s important to them and we donate and drop off the cheques together,” she says. “It’s an activity that really bonds us as a team when we see what a difference we can make together.”
With her full life at and outside of work, Millicent says the most important decision in your career is the partner you choose, starting at home. “I would not be where I am today without the support of my husband of 23 years, Steve,” she says. “He’s always put my career first. He’s a pilot with Air Canada but he took four years off to be a stay-at-home dad and let me grow my business without having to worry about sitters, travel plans, and all the moving parts. He’s my partner, my best friend, and my biggest supporter.”
That advice goes for the workplace too. “I love my team and I can tell you each member is phenomenal,” she says, while proudly announcing team member Ryan Miller, MBA, CFA, officially became a Partner in late 2025. “He thinks and acts like a business owner, he truly cares about the clients, and he’s a hard worker who delivers results. Just as important, if not more, we hold the same values. And then, to find Neriza Chaytor – our Administrative Assistant we refer to as our Organizer Extraordinaire – we’re right on track to grow our dream team with purpose and alignment.”
“Sometimes you hire an employee,” Millicent wrote in her official announcement about growing her team. “And sometimes, when the stars align, you find the exact right person — someone who shares your vision, your work ethic, and your drive to keep building something better together. I’m grateful to have found that in every member of our team today as it truly takes a full team effort to deliver what clients have come to expect from the Millicent Hicks Group.”
Natalie Noble’s love of writing stems from her passion for hearing and sharing people’s stories. Over the years, she has written for various business, real estate, and agriculture publications. At the heart of her work is a desire to continuously learn and connect.
Millicent Hicks, CFP®, CIM®, FCSI®, FEA®
Senior Wealth Advisor ScotiaMcLeod® , a division of Scotia Capital Inc.
Scotia Wealth Insurance Services Inc.
235 Water Street
St. John’s, NL, Canada A1C 1B6
T 1.709.576.7123 M 1.709.769.4153