PREVIOUS YEAR: 2023
Impact Report 2024
In 2023, we published our inaugural impact report, following a deep dive about incorporating our values into the business. Since then, we’ve continued working toward our vision: eliminating barriers to accessing financial advice by creating an inclusive and safe space where everyone can thrive.
In this, our 2nd Annual Impact Report, we share our progress and areas for improvement towards being a more equitable and inclusive space within the financial planning industry.
Why is this important?
Finance is traditionally a conservative industry which benefits folks in positions of privilege, and which excludes persons and communities facing marginalization. Systems like this perpetuate cycles of oppression. We aim to disrupt those patterns, making financial advice accessible so that people—ALL people who wish to work with us—can feel safe, welcome, informed and financially secure now and into their future.
Steps we’ve taken in 2023 - ‘24
Social Justice, Equity, Diversity, and Inclusion (JEDI). In light of the alarming dismantling of DEI (diversity, equity, inclusion) initiatives in many organizations as well as federally in the USA, we remain steadfast in our commitment to principles of JEDI, now perhaps more importantly than ever. Our website continues to unapologetically display our progressive approach and values, including our commitment to inclusion. Our posts on Instagram, Facebook, and LinkedIn demonstrate our unwavering commitment to centering “JEDI” in our work.
Values-aligned partners. We prioritize working with organizations who share similar values to ours. Where possible, we contract QBIPWOC-owned/operated businesses, and/or contractors whose identity includes disability etc. This year, that has included:
Salt Design Co for website support
Career Contacts for fractional Human Resources, as recommended by our equity, inclusion, anti-racism consultants at Bakau Consulting
Fairware for sustainable and ethically sourced corporate products – branded pens for us this year!
Blind Beginnings for Braille business cards
Purpose CPA for our bookkeeping, payroll, and accounting
Go4Prints for brand signage and prints
Office space. Knowing our mid-Lonsdale office lease would be coming to an end in early 2025, we searched for our next office space with intentionality about accessibility and inclusion. We carefully evaluated multiple lease and co-working opportunities, weighing factors such as accessibility for transit, mobility, and washrooms. While no space was perfect—many locations, for example, offered only gender-binary washrooms or had stairs with no alternative—Suite Genius checked more boxes than all the other options we considered:
the ground floor is wheelchair-accessible in most areas
the washrooms are individual and gender-neutral
areas for improvement remain, such as the installation of a button-operated front door; we are actively engaged in dialogue with Suite Genius on this and other accessibility considerations. We are encouraged by their openness to feedback and their willingness to pursue improvements over time.
oh, they’re DOG-FRIENDLY!! 🐶🐾
We ultimately landed on co-working as it can be more environmentally sustainable and socially equitable than private office leases, as they encourage resource-sharing, reduce wasted square footage, and foster collaborative community.
Living Wages. Internally, we are committed to seeking, hiring, and empowering diverse team members, and offering fair and generous compensation. As such, we are proud to have re-certified as a Living Wage Employer in 2024. We believe that if a job is worth doing, then an equitable living wage should be the bare minimum. If an employer is able to provide a thriving wage, that’s even better. We aim for thriving compensation and an anti-oppressive work environment.
Work-life balance. Rather than the typical 5-day work week, Smart Investments now runs a 4-day work week for our administration team; we stagger schedules so that all 5 weekdays have admin coverage. We hope this offers improved work-life balance, reduces the likelihood of burnout, and allows more time for personal pursuits and community involvement. More broadly, a 4-day work week may be a step toward social justice by allowing a more equitable distribution of household responsibilities for those who often bear the brunt of childcare, ‘invisible labour’, and other caregiving duties.
Indigenous reconciliation. Following the Home on Native Land course we completed last year, we are now committed to examining the 94 Truth and Reconciliation Calls to Action as a team. We do this by recognizing 1 of the 94 Calls to Action in each weekly team meeting, therefore it is a 94-week commitment. We also post each Call to Action as an Instagram story as we go.
Social impact budget. By exploring social responsibility within capitalism, Smart Investments hopes to generate ripple effects in communities and in the financial industry at large. As individuals and as an organization, we look at how we are impacted by, benefit from, and contribute to systems of oppression. It is our goal to use our power and privilege in responsible ways. An integral part of social responsibility within capitalism is contributing money towards charitable organizations (whether a registered charity or not) or causes which align with our values. Smart Investments is proud to have formalized our Social Impact Budget for team members this past year, up to $500 per person per year.
Charitable contributions. We are fortunate to have been able to donate to the following registered Canadian charities:
Cody Kehler It’s in the Memories Society
Wapna'kikewi'skwaq Women of First Light
Qqs Society: uplifting Heiltsuk youth, community, culture, and environment
Mutual aid. We recognize that there are challenges, obligations, and costs related to becoming a registered charity. Many great charitable initiatives are carried out by nonprofit organizations without registered charitable status, and while they are not able to issue tax receipts, they have somewhat greater latitude about how they can raise and deploy funds. Therefore, we are pleased to have offered mutual aid to:
Sisters in Sync – queer dragon boat paddling
Ikaarvik: Northern youth bridging research and communities, Indigenous knowledge and western science.
Community outreach. As part of our vision to eliminate barriers to accessing financial advice, we offer financial literacy workshops for community organizations, including:
North Shore Women’s Centre | Separation Support Group, for those who are in the process of ending a marriage or common law relationship or are considering separation
YWCA – thank you to Zoë Stronge for this lovely note!
Menstrual equity includes affordable, comprehensive access to menstrual products and eliminating stigma surrounding menstruation. Menstrual equity – a critical aspect of gender equality - ensures that individuals who menstruate can manage their periods with dignity and without feeling shame or stigma. Smart Investments provides a no-questions-asked supply of tampons and pads in-office.
Internal policy. While our commitment to inclusion is foundational, embedding that commitment into formal policy ensures accountability and lasting impact. This year, we finalized our internal policy which includes our anti-oppression statement and commitments on community care - affirming our dedication to justice, equity, diversity, and inclusion in both principle and practice.
Continuing education. We invest time and money in JEDI initiatives and learning opportunities, and all team members are invited to the table for less hierarchical decision-making. This includes an invitation for team members to share JEDI ideas, media, and resources in our weekly meetings, as well as continued education, individually and/or as a team. This year’s JEDI learning has included:
Bakau event: Reflections on Leadership through Chaos & Crisis
Radical Mental Health First Aide (RMHFA) micro workshop. We graciously note that Joko Wellness does not believe in gatekeeping this information. Accordingly, we are sharing these class readings and resources, glossary of terms, and Care Camp along with these links at which they can be paid for their labour oumou's Patreon and ko-fi shop
Kelsey attended the Responsible Investment Association conference
Of special note, big congratulations to Justyne, one of our wonderful Administration Associates, on completing their Trauma of Money (ToM) Professional Certification program in 2024! The @traumaofmoney Method™ brings a compassionate approach to finance, recognizing a need for healing collective and individual traumas to create financial safety and well-being. While financial planning *can* be daunting and intimidating - at Smart Investments, we aim to take the stress out of it, creating an inclusive and safer space for clients to thrive.
Areas for continued growth
Our aim is to be a more equitable and inclusive space within the financial planning industry; as important as it is to celebrate our successes and progress, it is equally important to outline areas for improvement, for accountability.
Examine and heed the Truth and Reconciliation Commission of Canada: Calls to Action. In each of our weekly meetings, we recognize 1 of the 94 Calls to Action, therefore it is a 94-week commitment. As of Dec 17 2024, we will reach # 28 which is:
We call upon law schools in Canada to require all law students to take a course in Aboriginal people and the law, which includes the history and legacy of residential schools, the United Nations Declaration on the Rights of Indigenous Peoples, Treaties and Aboriginal rights, Indigenous law, and Aboriginal–Crown relations. This will require skills-based training in intercultural competency, conflict resolution, human rights, and antiracism.
Follow along as we post each Call to Action as an Instagram story as we go.
Include excerpts of our anti-oppression statement online at https://smartinvestments.ca/our-commitment
A note for our trans and non-binary clients: The financial industry largely operates on the incorrect premise that gender is binary - for example, when applying for life insurance, quotes are typically based on ‘male’ or ‘female’. We commit to centering your identity and lived experience while navigating these systemic constraints, and we are dedicated to long-term change in the industry itself. Going into 2025, we are starting a reference table outlining how the major life insurance companies in Canada each approach sex and gender in their quoting and underwriting. From there, we will identify meaningful next steps and concrete avenues for advocacy, with the goal of pushing the industry toward more inclusive practices, such as recognizing intersex identity, as well as recognizing current gender instead of only recognizing sex assigned at birth.
Traditional Human Resources support is not always delivered through an anti-oppressive, anti-colonial, or equity-focused lens. To address this, we are intentional about applying a social justice and equity perspective whenever HR matters arise. Our fractional HR firm, Career Contacts, was recommended to us by Bakau Consulting—a DEI firm we deeply trust—which provides us with a degree of confidence in their approach. That said, we acknowledge that the ultimate responsibility rests with us to ensure our organizational values remain centered in all HR dealings.
As part of our ongoing commitment to making finance more approachable, and inspired by Justyne’s Trauma of Money Professional Certification this year, we encourage each team member to consider whether they wish to do so, partially funded by Smart Investments.
Once moved into our new Suite Genius office at 120 Lonsdale Ave, we commit to updating our Office Accessibility information, including access for mobility aids and specific washroom information.
Thanks to the great trust our community has placed in us, referrals have exceeded our current capacity, so we’ve temporarily paused new client onboarding. This was not a decision we took lightly; our vision is to reduce barriers to accessing financial advice, and we recognize that pausing intake runs counter to that goal. Therefore, one exception remains: we remain available to discuss Registered Disability Savings Plans (RDSPs). In 2025, we are seeking to welcome a values-aligned Financial Advisor to expand access to inclusive, client-centered advice.
Thank you for reading our 2nd Annual Impact Report. We greatly value community input, therefore we welcome you to share your thoughts on this with us. We will listen to, and act on, your feedback.
See you next year for our next Impact Report!
