That’s the opinion of full-service brokerage TD Waterhouse Private Investment Advice when it comes to the number of women working in the investment advisory field. TD meets the industry standard when it comes to women advisors — slightly less than 20% of its advisors are women — but that is something Michael Reilly, president and national sales manager, is trying to improve.

“I think we’re missing out on a phenomenal opportunity, and we need to make this a focus,” Reilly says.

To that end, TD has set a target of 25% for new female hires in its IA rookie program. The brokerage came close to achieving that goal last year — the first year it measured progress — with women accounting for 22% of new IA recruits, says Reilly.

TD wants to reach more women — in and out of the parent bank — to tell them about advisory opportunities. It has hired Toronto women’s marketing firm Swing to get the message out.

Swing is helping TD reach more female talent through involvement in community organizations and via outreach efforts to advisors who have left the field, says Denise Shortt, a partner at Swing. The strategy also involves making sure that the bank’s culture is inclusive and inviting to women. “We need to attract them in the first place and retain them in the second,” she says.

Reilly is confident that his company will reach its goal this year: “It’s a momentum thing.”

— WENDY CUTHBERT