We are always looking for inspiring female leaders to share with our Women and Wealth community. So, we are delighted that Jackie Boylan, Head of Investor Servicing for Fidelity, has kindly shared some of her story with us.
Whilst currently based in the UK, Jackie is an Aussie. Some of you may remember her from her time spent at BT Financial Group, where her last role was Head of Customer Relations.
With 18 years of experience in the finance industry, she has amassed a wealth of knowledge on what it takes to handle challenging situations, how to stay updated on the constant industry changes, and what personal habits can lend themselves to professional success.
We hope you can gain some lessons from Jackie's story.
Can you tell us about your role and career background?
My current role is Head of Investor Servicing for Fidelity. I’m based in London and have teams in Ireland and India as well. This role is quite broad - I look after a few different areas: Advice, Wealth & Guidance, Resolutions & Vulnerable Clients and Client Services. It is doing a lot of what I love - trying to make things awesome for our clients so they have better financial understanding and better financial outcomes.
I’ve always been in financial services, starting my career at Westpac many years ago. I then moved to what was then called Bankers Trust (BT Financial Group) - one of my luckiest moves (literally, three people were short listed for two roles, I finished last in the process but then someone else resigned and I managed to get the gig!)
As Bankers Trust went through many transformations and owners over the years, I progressed from Client Services to Sales to Sales Leadership to Service Leadership - learning so much along the way.
Moving to the UK actually gave me the opportunity to re-position myself…I took on every opportunity that was offered such as leading the Gender Balance strand globally, speaking at industry events and then even applying for my boss’s role (Head of the Adviser Platform) after 18 months of being here. After getting that job and hitting some stretch targets, transforming the business with my awesome team, I did realise I could do so much more than I ever thought I was capable of. A key lesson here was I nearly didn’t apply for that role….I thought I hadn’t been in the UK long enough and that there were many more qualified people who would be better placed than me. I didn’t give myself credit for my leadership ability and also the benefit of bringing in new ideas and new ways of working.
What are some of the key challenges you face as a female leader in the industry and how do you overcome them?
I think I’ve probably encountered all of the standard challenges we know about: not being taken as seriously as the males in the team, having to work much harder to get the same reward (this was even acknowledged by one of my male peers relatively early on in my career), feeling like I didn’t quite fit in because I was the only female leader on the team, not being able to get a word in when I’m the only female in the room (to be fair, this can happen in a room full of females as well!).
I have had some great male leaders who really encouraged and believed in me, so it certainly wasn’t all bad - and that was both in Sydney and here in London now.
However, I wish (particularly mid-career) that I had had more female senior leaders to learn from, who may have helped me navigate these issues with more confidence.
Looking back, when I felt uneasy or unworthy (or uncomfortable) it made me double down on being a better leader, working harder, achieving better results. I’m not sure that is the best answer to this challenge, but I think the best advice I can give is: be the best at what you do, be a good human (be kind to people) and build your relationships so you have colleagues and connections on your side when you need it most.
What’s your approach to making difficult decisions and what learnings have you taken from these?
I definitely try to use as much data as possible, get different perspectives from respected colleagues with a slight overlay of gut instinct.
Decision making can be difficult, and when I reflect on poor decisions either I have made, or the business has made it’s always when we have had incorrect and/or incomplete information. The other key issue is when people are overcome by their own biases - this happens a lot, but data can really help in ensuring that subconscious or overt bias doesn’t impact the best decision being made.
The most difficult decisions for me have always been around people. The decision is possibly not the most difficult part, but the implication of that decision and what might need to happen next is always tough. Asking someone to leave the business is never about personalities for me, but if I’m tasked with a job then I need the people in the team to be willing and capable to help deliver our strategy and objectives, whilst exhibiting the right behaviours. That balance between capability and behaviours can be tricky to achieve!
Both the All Blacks (read “Legacy” by James Kerr if you haven’t already!) and my beloved Sydney Swans followed a mantra about it being all about the team - no individual, no matter how awesome they are will drive a team to greatness. Everyone needs to contribute in their own way and that’s what I’ve tried to build with the teams I’ve led, even if difficult decisions about people need to be made.
How do you stay updated on the constant changes and innovations across financial services?
I think this is the exciting (and sometimes challenging) bit of working in our industry - constant change and a lot of innovation. There are a number of newsletters I subscribe to such as Harvard Business Review, Atlassian, and Instead - which always give great insight into business trends (dynamic working for example) as well as technology trends, such as AI.
Conferences are also great, we have a lot of inexpensive conferences in the UK which are also an informative way to learn about future opportunities, technology, regulation, client demand - they are also an excellent way to catch up with industry connections or make new ones.
We also have a number of industry researchers who provide excellent insight into emerging trends and current challenges.
What’s the most important leadership lesson you’ve learned?
Without a doubt, it’s to ensure you have the absolute best people working with and for you. You need to be the best leader - not the best technical expert, not the best salesperson, not the best product person.
What daily habits contribute to your personal and professional well-being?
I am a list maker, and there is nothing more satisfying than placing that big line through a task when it’s complete! I am quite organised, so collating the lists from all of the different mediums (personal and work calendars, all of the different messaging apps, kids’ homework apps etc) is really critical to me a) not forgetting anything b) getting stuff done c) feeling remotely in control!
Ensuring I have the right amount of “edge” in the day job is important, this gives focus and a bit of pressure to ensure I’m working at my best and thinking about how we can be better for our clients and our teams.
I love running, reading and just spending some time totally on my own. That probably makes me sound very boring. Of course, spending time with my husband and children is also a key priority, but as an introvert I really need solitary time to recharge. Whilst this doesn’t happen every day, I do go away once a quarter for a solo weekend which is absolute bliss.
Can you talk about the importance of having a support network as a female in the industry?
It’s really so important, and London is really good at it. I was fortunate enough to meet some wonderful women when I first arrived in the UK and that network has grown and expanded, as well as developed into friendships, mentoring and work alliances.
Of course, your support network doesn’t have to be just women, and I have some great connections and sponsors who are male. I’ve also had incredibly supportive and positive male bosses over the years.
This is critical in our industry as whilst we’ve made inroads into more gender diversity, we still have a very male dominated sector. So having a supportive network is really important (for anyone, but particularly women) - this can help you navigate the challenges you are likely to encounter!
I’ve been making an effort to connect with younger women (either last year of university or recent entrants into the industry) and it’s so rewarding to be able to share knowledge, give tips and hopefully assist in navigating the early career years.
What advice would you give to someone starting out their career in financial services?
Firstly, and definitely what I wasn’t particularly good at when I started out, seeking out sponsors and mentors, building those relationships and connections is so important. I may have inadvertently done it in some areas, but it wasn’t at all intentional.
Secondly, don’t be too scared to try something new. Careers rarely go the way we may have planned, so if a learning opportunity arises, take it. There are so many roles that you have never heard of at school or university, once you’re in a role you can take advantage of this new knowledge.
Thirdly, you won’t always move “up.” I did so many lateral moves across Sales but that broad experience actually made me more employable at senior levels because I had experience across lending, investments, corporate superannuation, strategic accounts and platforms. Don’t be so fixated on that next level that you become stale whilst waiting for it!
