Terri McDougall: Member Spotlight
Terri McDougall
Financial Professional
CDT Membership Profile
When Terri McDougall was an Investment and Retirement Planner, she often received referrals from accountants and lawyers in the small communities she worked with in Muskoka, Ontario. Oftentimes, these clients were newly divorced women who had never handled money and had no idea if they were going to be okay, financially. Terri provided peace of mind for these women by creating financial plans and investment strategies, essentially helping to plan their financial lives after divorce. After multiple clients like this, Terri began to investigate whether there was some kind of designation for divorce planning and discovered there was. Terri became a Chartered Financial Divorce Specialist (CFDS) and began growing this part of her expertise.
Having experienced divorce herself, with two lawyers who had a history and loved to fight at the parties’ expense, Terri also felt that there must be a kinder and gentler approach to divorce that did not ruin relationships and escalate conflict. She knew that separating couples wasted a lot of money simply to receive a boilerplate agreement, when a more personalized and unique approach to settling affairs would lead to much more satisfactory agreements. Terri was right and soon began joining Collaborative Divorce teams in the role of the financial neutral, helping families divorce peacefully and also plan for their financial futures.
Quick Q&A with Terri McDougall:
1. What prompted you to move away from Wealth Management and towards Collaborative Practice?
The financial industry was going through massive changes and I had gone through a number of layoffs as a result. I had acquired the Chartered Financial Divorce Specialist designation and was introduced to Collaborative Practice and its team-based approach really appealed to me. In my Private Wealth Consultant role, I acted as a quarterback for clients’ financial needs which transitioned well into the Financial Neutral skillset.
2. How has the change impacted you professionally and personally?
From a professional perspective, my work is very gratifying. I work with some amazing colleagues and can clearly see the change in clients’ financial knowledge and comfort level from the beginning to the end of a file. To see someone become confident about money and express how much they appreciate the knowledge I provide is truly rewarding. Personally, having complete control over my work and schedule has helped with work/life balance and seeing my hard work pay off is very fulfilling!
3. What are a couple of things you would say to someone considering a similar transition into Collaborative Practice?
Like any business, it takes time to establish yourself. Be patient, establish relationships with those you enjoy working with, and educate yourself. We are constantly learning in this industry and finding new and better ways to help our clients through a difficult time.
