Samantha Sykes, senior investment advisor with Sykes Wealth Management at Raymond James Ltd. in Toronto, worries that people are getting bad advice from so-called 'finfluencers' and others without proper qualifications.. Get exclusive investment industry news and insights, the week’s top headlines, and what you and your clients need to know. For more from Globe Advisor, visit our
In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years, and how their experiences influence the advice they give clients. Samantha Sykes, a senior investment advisor with Sykes Wealth Management at Raymond James Ltd. in Toronto, talks about money lessons her parents taught her growing up, an operating room incident that confirmed her decision to work in finance, and her biggest money mistake as a young assistant on Bay Street.My parents taught me the importance of thinking about what you spend your money on, saving for the future and giving to charity.
My parents did everything to ensure my brothers and I had everything we needed growing up – and that we stayed grounded. I started receiving an allowance when I was 11 and would put the money in a savings account. I would then track my deposits in a little bank book, which I still have. The rule was if I wanted to buy myself something, like magazines or lip gloss, I first had to put $1 in my bank account and $1 toward a charity.
Years later I wrote my Law School Admission Test and got accepted to a few law schools but deferred my acceptance for a year, unbeknown to my parents – at least until this article is published. My passion has always been working with data, relating to people and having flexibility and variety in my schedule. But even while working as an assistant at a brokerage house, I wasn’t sure I chose the right career. As a backup plan, I went to culinary school at night for a couple of years.