Building Your Own Table When No One Gives You a Seat

WomenShare

"Screw waiting for a seat at the table. I'm going to build my own table."

Welcome to WomenShare: a celebration of women in financial services. In today’s episode, we had the honor of speaking with Mahalene Dulay, founder of Modern Wealth Collective, which offers a holistic, community-focused approach to financial advising. Mahalene joined us to dive deep into her journey of creating an inclusive financial advisory firm that serves historically underrepresented communities with authenticity and empathy.

Mahalene opened up about the profound impact of her Filipino heritage on her professional path. She shared how the value of community ingrained in Filipino culture steered her towards creating a financial advisory firm that does more than just crunch numbers. Through Modern Wealth Collective, Mahalene reframes traditional financial advisory tactics to focus on community, advocacy, and building genuine, empathetic relationships with clients.

Mahalene’s story is deeply rooted in her parents' pursuit of the American Dream after migrating from the Philippines. Watching their hard work as business owners sparked her dedication to supporting others in their financial endeavors. Starting her career in a large financial planning company during the 2007 real estate collapse, Mahalene learned invaluable lessons that would shape her future business practices. The transition to founding her own firm in 2018 brought ample personal and professional challenges, but it also offered an immense opportunity to fulfill her mission of inclusivity in the financial sector.

In this episode, Mahalene also discusses the importance of authenticity in branding, particularly through the use of social media. She emphasizes finding a balance between being consistent and making realistic, sustainable efforts in content creation. Additionally, she explains how tools like Canva allow her to create engaging visuals without the need to be constantly on camera.

Key Takeaways:

• Community-Centric Financial Advisory: Mahalene Dulay’s Modern Wealth Collective places a strong emphasis on community, serving women of color and historically underrepresented groups with empathy and authenticity. Her firm goes beyond financial advisory to engage deeply with clients' personal and financial stories.
• Redefining Marketing: By shifting the focus from niche marketing and avatars to serving community needs, Mahalene demonstrates how genuine connections trump transactional interactions, leading to long-term client relationships.
• Effective Use of Social Media: Leveraging tools like Canva for authentic content creation helps balance a social media presence without the constant need to be on camera. Consistent, yet sustainable, efforts are key to maintaining audience engagement.
• The Four D’s Framework: Mahalene stresses the importance of the four D’s—Do, Delegate, Delete, Defer—as a practical approach to balancing professional workload and personal life. This framework allows individuals to prioritize essential tasks, seek help where necessary, and eliminate or postpone less critical activities.
• Celebrating Wins: A crucial point Mahalene brings to light is celebrating both small and big achievements. This practice contributes to sustaining motivation and a sense of purpose.
• Support Systems: The necessity of community support, including from family, friends, and colleagues, is paramount in pursuing both personal and professional goals. Emotional support systems and business networks play pivotal roles in one’s success.
• Valuing Time Over Money: Echoing the sentiment that time is irreplaceable, Mahalene advises individuals to be mindful of their time investments, focusing on activities that truly matter and bring joy.
• Building Authentic Relationships: In the financial sector, developing authentic relationships with clients and peers fosters a supportive community and a thriving business environment.

Join us as we continue advocating for inclusive spaces and celebrating strides towards community-focused success in the financial industry. Mahalene’s insights remind us that when empathy and authenticity are at the core of financial advising, real change happens. Let’s keep the conversation going because when women thrive, communities flourish.