Empowering Female Advisors and Building Inclusive Firms with Lena Nebel

Welcome back to Don’t Retire… Graduate! In today’s episode, I’m excited to bring you a very special installment from our “Diary of a Financial Advisor” series. We’re diving into the professional journey, passions, and perspectives of an inspiring leader in the financial world: Lena Nebel, CFP®. Lena is not only my business partner and dear friend, but also serves as President and Chief Operating Officer at BFG Financial Advisors. With almost 25 years of experience, she’s made significant strides as an advocate for women in finance, blazing trails both inside and outside our firm. In this insightful conversation, Lena shares her story from her earliest career aspirations—sparked by her mother’s administrative role—to becoming the only woman on her college investment committee and ultimately advancing to executive leadership. Lena and I discuss the challenges she faced as a woman in an industry traditionally dominated by men, and why representation and mentorship matter not just to her, but for the future of our entire profession. We also delve into the importance of opening doors for the next generation of financial professionals—especially young women who might not see themselves reflected in the field. Lena provides concrete advice for those interested in personal finance as a career, highlighting the wide range of roles available beyond being a financial advisor, and underscoring the benefits of internships and job shadowing. We explore how true diversity—of background, experience, and ideas—fuels collaboration and strong decision-making at BFG, and discuss the positive impact of study groups, advisory boards, and male allies in advancing inclusivity across the industry. Our conversation wraps with Lena’s reflections on leadership, growth, and the ever-evolving answer to, “What do you want to be when you grow up?” 5 Key Takeaways:

1. Diverse Career Paths in Finance: Lena emphasized that the financial services industry offers far more than just becoming an advisor. Roles in client relations, marketing, operations, and research are all vital, making it a great field for a wide variety of skill sets and interests.
2. Mentorship and Representation Matter: As someone who experienced firsthand the lack of female role models early on, Lena is committed to mentoring young women and creating pathways for them to succeed in finance. She encourages firms to offer shadowing and internship opportunities to expose students to the real-world variety of financial careers.
3. Collaboration Drives Better Decisions: One of BFG’s guiding principles is collaboration—not just among leaders but across all levels of the organization. Lena explains how inviting input from every team member, including interns, leads to richer discussions, stronger decisions, and a healthy workplace culture.
4. The Value of Study Groups and Advisory Boards: Peer study groups, especially those focused on elevating G2 (second-generation) women leaders, are becoming important spaces for learning and growth within finance. Lena acknowledges that both male and female advocates are needed to accelerate industry-wide change.
5. Progress Toward Inclusion: While change is happening, Lena notes that the industry still has a long way to go to achieve true diversity. She urges firms to look beyond appearances and seek diversity in experiences, perspectives, and education as well as backgrounds, ultimately enabling better connections with a diverse client base.

Join us for this inspiring episode as Lena Nebel offers wisdom for established professionals, young people considering finance, and leaders committed to creating a more inclusive future. Subscribe, rate, and share if you’re ready for your own journey toward financial freedom, growth, and purpose—don’t retire… graduate!