Sarah Quirke, Head of Investment Solutions in Goodbody Wealth Management, reflects on a decade in the financial services industry and why being a female in a male dominated industry presents a great opportunity …
The Investment Club was created in 2021 and our Goodbody experts have been with us every step of the way, providing practical tips on investing, and insights on pensions and inheritance tax, among other key topics. From tracing their career paths and how to attract more women to the financial services industry to their sage advice and hobbies, we invite you to explore our Women in Wealth series.
My journey to a career in financial services: I have worked in financial services for just over ten years. I began my career in Deloitte as an investment consultant and joined the Goodbody Graduate program in 2014, which proved to be a fantastic opportunity. I got to work across all departments, figuring out what I really loved (or hated), gaining a wide set of skills and a broad understanding of both the company and industry at large. The experience was invaluable in helping me figure out what areas were best suited to my skill set. It enabled me to identify where I could drive change and growth within the business. Since 2018, I have been the Head of our Investment Solutions team within Wealth Management.
What females bring to the industry: Historically, female talent has been a significantly underutilised business resource in industries such as finance, particularly at more senior or executive levels. I think women can have a hard time breaking in because we worry about fitting the traditional mould in a male dominated industry. However, I think that you can flip that outlook. Rather than it being a challenge, it actually presents a great opportunity. More and more women are beginning to embrace the fact that we don’t fit this traditional mould. We are focusing our energy on the positive changes and skills that we bring to the sector, and the need for diversity of thought and leadership.
Career highlight to date: My career highlight to date has to be starting and heading up my own team within Goodbody. I am now working in a role and on a team that didn’t exist five years ago. I think this is reflective of why we need more females in finance. We bring a fresh skill set and perspective to the table and, while we may not always see roles or career paths that speak directly to us, this is an industry that is experiencing significant change and we now have the ability to forge our own path and create new opportunities.
Three investing tips for beginners:
1. Walk before you can run: start off investing smaller amounts, get comfortable with the volatility in markets and what level of risk you are comfortable with before you start investing large sums. Typically, this means you’ll be more comfortable in periods of market volatility and will stick to the plan rather than panic selling.
2. Diversify: this is one of the best methods to reduce risk. Consider different companies, sectors and asset classes. Essentially, don’t put all your eggs in one basket.
3. Take advice: investing any significant sums of money is a big financial decision and professional advice ensures that your investments are suitable for you. Professional advice can also be valuable in introducing you to a wider investment universe, for example, certain special opportunities like private equity funds.
A podcast I loved: ‘Diary of a CEO’ with Steven Bartlett for the mind, and ‘I’m Grand Mam’ with Kevin Twomey and PJ Kirby to relax and switch off.
On attracting women to the financial services industry: If you are looking for a dynamic and fast paced work environment, you will find finance a very fulfilling environment. The opportunities are boundless; from keeping on top of the markets, producing innovative ideas and leveraging a wide range of products and services to deliver tailored solutions to clients. Wealth Management in particular is all about building relationships and providing the best result for clients which is highly rewarding.
Advice for Investment Club members: We have seen a real tick up of volatility in markets this year which can be painful for investors to endure. My advice would be to make sure you are comfortable with the level of risk you are taking on before you start investing as this will ensure that you are more likely to stick to your plan during market pull backs. Use the resources available to analyse what is going on in markets and driving these swings. Understanding the drivers behind market movements can help investors to pick assets which may perform better or provide a level of protection in these times and understanding the reasoning behind these market movements can help investors avoid panic selling.