Over a 35-year career in the investment industry, Debra Doucette, OBC, has established herself as a leader in a field still dominated by men. Today, she is executive chair of Odlum Brown, an independent, full-service investment firm that has been prominent in British Columbia, her home province, for over a century.
Doucette joined the firm in 1991, working her way up to chief operating officer before becoming president and CEO in 2007 and executive chair earlier this year. She serves as a board member of Providence Health Care, Drug Free Kids Canada and the Canadian Investment Regulatory Organization (CIRO). She previously helmed the Canadian Investor Protection Fund as industry director and chair.
While widely recognized as a leader in financial services, Doucette is also known as a passionate supporter of charitable programs—one of the reasons she was awarded the Order of British Columbia in 2021. Here, Doucette shares how she faced challenges as a young woman in the finance industry in the early 1990s, what has inspired her most as a philanthropist, and how she has helped clients through over three decades of change.
What sparked your interest in wealth management, and who was your greatest support as you embarked on your career?
My interest in wealth management came much after I finished my formal university degree. My degree is in political science and not finance, and it took a while for wealth management to find me. Private client money management is really all about people and relationships, and that’s what attracted me. I find helping people grow their wealth and achieve their financial goals very satisfying. For many people, financial well-being is a puzzle, and I love to help people put that puzzle together. All along the way, I’ve been really fortunate to work with a great group of really smart people—colleagues and clients. I’ve learned so much from all of them.
How did you manage the challenges a young woman faces in a male-dominated industry?
I have always tried not to take too personally how other people perceive me. Early in my career, when I encountered being underestimated, I tried to turn it into an opportunity where I could let my work speak for itself. That good work often led to more opportunity. I’ve always tried to focus on the possible, and not give too much ‘air’ to attitudes that want to hold me back.
What have been the biggest lessons you have learned in wealth management?
I’ve been through many market gyrations throughout my career. The one constant in all of them is the need to constantly communicate with your clients and the people around you. I honestly don’t think it’s possible to over-communicate through the tough times—or the good ones either. Clients want to know that they matter to you, and talking to them and helping them navigate through whatever might be happening to or around them is one of the best ways to do that.
When did you become interested in philanthropy?
I grew up in a family where giving back was modelled and encouraged. There were times when I was growing up that my family benefited from community support, and my parents always tried to find ways to pay that support forward. As I got older, those values were already well instilled in me. As my career progressed and I was exposed to so many wonderful not-for-profit organizations that did such good and important work, I had the opportunity to put those values to work in my own personal way. I’ve learned so much from working with many wonderful organizations that do incredible things in our communities.
Don’t just do things that come easily. The growth comes from the ‘too hard pile.’
Debra Doucette
What initiatives are most important to you as a philanthropist and why?
My and my family’s philanthropic interests are quite varied, but I am personally drawn to initiatives that support families. I’ve always been a big supporter of United Way—their focus on helping kids and youth succeed and helping seniors to remain connected and engaged really resonate with me.
When it comes to the next generations in your family, what lessons have you shared with them and how do you encourage them in terms of philanthropy?
I have always encouraged my children to volunteer and give back. It really does take a village to build a life, and they are part of that village. They are all early in their adult journeys, but I am confident that they have a community view of giving back in their own way that will be foundational to their own journeys.
For young women in investment and finance, what advice would you give them in terms of finding their strength and their voice?
I always tell young women (and men) that you need to be honest with yourself about what you are good at and what you need to work on. Seek out opportunities to advance both—don’t just do the things that come easily. The growth comes from the ‘too hard pile.’ Even if things don’t work out the way you want, you will have likely learned a lot of great lessons along the way, and probably gained some new opportunities, too.
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