Trailblazing Women Redefine Finance: The Rise of the Female in Finance Collective

Muriel Siebert, the 'First Woman of Finance,' paved the way for women in the financial industry, breaking down barriers and inspiring a new generation of leaders. Now, the Female in Finance Collective (FIF) is carrying on her legacy, empowering women and driving change in the sector. Led by the dynamic Meghan McKenna, FIF is a powerful network of decision-makers and investors, committed to advancing the profiles of women through board seats, job opportunities, networking, and learning.

Unlocking the Potential of Women in Finance

Pioneering the Path: Muriel Siebert's Legacy

Muriel Siebert's trailblazing journey as the first woman to own a seat on the New York Stock Exchange in 1967 is a testament to her unwavering determination and passion for gender equality. Known for her bold actions, such as threatening to install a portable toilet on the trading floor if a women's restroom was not granted, Siebert's unyielding confidence and refusal to take no for an answer cultivated a rare respectability for women of her era. Her legacy as the lone woman among 1,365 men at the NYSE for over a decade has paved the way for the next generation of female finance leaders.

Carrying the Torch: The Female in Finance Collective

Fast forward to 2024, and the Female in Finance Collective (FIF) is carrying on Siebert's legacy. Led by the dynamic Meghan McKenna, FIF is an invite-only, highly selective group of Founders, CEOs, CFOs, VPs of Finance, VC Partners, and leaders, with a mission to advance the profiles of women through board seats, job opportunities, networking, learning, and great parties around the world.

Meghan McKenna: A Force to Be Reckoned With

Like Siebert, Meghan McKenna is a force to be reckoned with. Described as a woman to whom it is impossible to say no, McKenna is known for her brash humor, charming confidence, low tolerance for inequality, and unwavering belief that change is possible. Drawing inspiration from her college basketball career and her humble upbringing in the Bronx, McKenna has stayed true to her values, even when faced with challenges in the workplace.

Collective Effort for Change

McKenna founded FIF shortly before starting a new role as a Managing Director at Stifel Bank, recognizing the need for a platform that could combine her experience, talent, and passion for empowering women in finance. Driven by the data that shows women are not progressing at a rate that makes sense for their capabilities and industry needs, McKenna and the FIF team are committed to initiating a collective effort for change.

A Unique Approach to Empowerment

Unlike many female-only networks that incur sizable membership fees and restrict their events, FIF takes a different approach. McKenna wanted to create a 'personally free network for qualifying women,' focusing on bringing together decision-makers and investors who are passionate about cultivating change. The monetization comes via paid talent matching and a sponsorship program for events and seminars open to men and women, fostering a growing partner ecosystem of over 30 sponsors in the first year.

Fostering Organic Allyship

This strategy has proven effective, as it focuses on bottom-line impacts and brings others along on the journey. By creating a conscious and intentional level of connection, FIF events and initiatives have fostered organic allyship, addressing a common criticism of female-only networks.

Addressing the Burden of Proof over Potential

For venture capitalist Marissa Hodgdon, CEO of Sidelines.Vc, the nature of this intent is critical. She shares that a key challenge women in the finance industry face is the burden of 'proof over potential,' where the 'you know what you know' effect has worked favorably for white males, who continue to receive more than 90% of annual VC dollars. Hodgdon believes that by partnering with FIF, they can be targeted in putting opportunities for advisory roles and investment in front of women, creating a new wave of intentional change.

Cultivating a Sense of Possibility

Gaingels CEO Jennifer Jeronimo sees the partnership with FIF as a catalyst to create a new sense of possibility for women in the VC realm. Drawing an analogy to Roger Bannister's record-breaking four-minute mile, Jeronimo wants to diversify the face of an industry that often looks and sounds the same, empowering women to challenge the status quo.

Maintaining Substance over Scale

As FIF looks to the future, McKenna and the team are committed to staying true to their core values and strategic objectives. They are not focused on headline growth but instead on ensuring they maintain a high-caliber community, where women can create opportunities by performing, not complaining.

The Power of Connection and Collective Action

Muriel Siebert's legacy lives on through the women of FIF Collective, who are proving the power of connection and collectively challenging the status quo. By fostering organic allyship, addressing the burden of proof over potential, and cultivating a sense of possibility, FIF is redefining the future of women in finance, one step at a time.