In the world of financial planning, finding the right advisor who understands your personal values can be a game-changer. That’s where Danika Waddell, president and founder of RIA Xena Financial Planning, comes in. Her unique selling point? A crystal-clear focus on building portfolios that reflect her clients’ ethics.
“I work with women in the tech industry, and I particularly like working with people who are interested in their impact on the world,” she said.
That’s because Waddell knows the importance of investing only in companies that reflect an individual’s mindset. Being charitable herself, this could mean a focus on beliefs, on giving back, or even on avoiding investments linked to fossil fuels.
This approach to selecting clients was very deliberate. Waddell decided to focus on women in tech because, as she put it, “I live in Seattle. Everybody works in tech.”
It was her familiarity with the technical aspects of their compensation packages that made Waddell a natural fit for this niche. Initially, she also considered working with women business owners. Still, Waddell realized their financial challenges differed significantly from those of women in tech — the tax implications are distinct, prompting her to narrow her focus.
Over time, Xena Financial Planning naturally attracted clients who shared her values and passions.
“We’re very vocal about our stance on a number of political issues,” she said. “We saw that these people were gravitating toward us anyway, so let’s lean into that a little bit more.”
Waddell’s mission to champion value-led initiatives is perhaps best showcased in her diversity, equity and inclusion work. She highlighted how her firm’s DEI mission statement on her website provides transparency to potential clients and fosters a sense of safety for those from diverse backgrounds.
“When someone comes to our website and they’re a woman of color or someone who’s part of the LGBTQ community, they know they’re going to feel safe here. They can see what we stand for. It’s really transparent — and I’m super proud of that work,” she said.
This drive for inclusivity is similarly reflected in Waddell’s commitment to making the financial planning profession more available to everyone.
“One thing that’s really important to me is making our industry more accessible to those who would like to become financial planners,” she said. “Having a team that’s more diverse than the average in our industry, creating jobs, creating a flexible environment where people can learn – I would love to have some kind of residency program too.
“I don’t know if I’ll be able to make it happen or not — other people have tried and failed, but I love the idea of people being able to learn in an environment that’s supportive of their future growth,” Waddell said.
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