Meet Mahalene Dulay

We had the good fortune of connecting with Mahalene Dulay and we’ve shared our conversation below.

Hi Mahalene, is there something that you feel is most responsible for your success?
One of the most important influences behind my success and the Modern Wealth Collective® brand is rooted in the Filipino value of community. Growing up, my parents taught me that community embodies family, friends and anyone who is there to support and elevate you to succeed. I couldn’t tell you how true this is, especially as a mom and running a business.

I lean on my team members to help me run our firm efficiently, so that I can focus on growth and sustainability. I look to my family to support me in ensuring that my kids are looked after when I’m sick or when we have to shuffle schedules around, so everyone gets to where they need to be (and with both shoes on… if you know, you know). I rely on my closest friends to assure me that I’m doing more than OK when I feel mom-guilt. I learn from my business mentors and friends on best practices and accountability. I listen to those that inspire me to stay focused on purpose and to value time currency over everything.

Truth be told, I still struggle with asking for help and letting go of “I’ll take care of it myself” – as an alpha daughter and woman, it’s an innate part of me that continues to evolve. However, it’s through this evolution that I’m grateful to have a community that gives me the opportunity to grow into the most authentic versions of myself.

Modern Wealth Collective® was founded on the values that reflect my personal beliefs, two of them being community and collaboration. As a female advisor of color in a predominately white, male industry, it was important for me to build a financial planning firm where women of color and diverse communities could see themselves represented and resonate with a brand that understood their money obstacles beyond the dollar signs. We invite clients, our partners and community to show up as their authentic selves. It is through organic and meaningful connections with people who align with a client-centered, aligned-driven mission that our firm has grown exponentially over the last several years. We seek to find others that give more than they receive, bring others up instead of tearing them down and more importantly, are in business to make a positive impact on the lives of others.

Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
I started my career as a financial advisor back in 2007 – for context, it was when unregulated loans in the housing market caused a financial crisis across the U.S. Aside from being a recent college grad during this time, I was a woman of color advisor in an industry that was (and still primarily is) white male. I’ve had experiences both inside and outside of the office where I wasn’t taken seriously or had inappropriate, racist comments thrown my way. On top of all this, the first three years in the industry were the hardest – it’s no easy feat building a business from the bottom with little financial stability. I was on a commission-only basis, worked 60 to 70-hour workweeks, dating and social life was nonexistent and there were even times when my parents would tell me I should do something else.

The thought of quitting did cross my mind in the early part of my career, but instead, I took these experiences as motivation to prove to myself that I could (and would) build a successful business that I was proud of. I kept the long-term in mind knowing that if I kept pushing forward and leaned into learning the best ways to build a successful business that I would make my mark.

In 2018, I left my firm to start my own financial planning firm. With a baby, toddler and husband in career transition, I made a bold move, took a chance on myself and founded Modern Wealth Collective®. With all my experiences as a female advisor of color in the 11 years prior, I realized that for so long women of color waited for a seat at the money table – I got tired of waiting and built my own to welcome diverse communities and allies to join. What we bring to the table is more than just the numbers on a statement – we help our clients feel more aligned in their money journey, create opportunities for impact and break wealth barriers.

My journey of entrepreneurship was not an easy one – talk to any other entrepreneur and most will tell you the same. It can be lonely, there is a lot of guilt about how time is spent, it can cause burnout, and it requires a lot of physical and mental energy. There are of course the beautiful aspects of this journey that I embrace and am grateful for as well: the connections made, the flexibility in creating my own schedule, the endless opportunities for growth… the success of my business stems from both the failures and lessons learned to show up better than before.

The lessons I’ve learned and continue to experience in entrepreneurship are woven into other areas of my life. I’m a stronger leader and am more confident in standing up for myself and what I care about (to this day, I STILL get comments about if the older white guy sitting next to me at conferences is my boss). I’m more aware of how my time is spent and learning how to better prioritize the same 24 hours in a day that everyone gets. I’m proud to teach my kids about resilience, entrepreneurship, accountability and viewing mistakes as opportunities for growth. Entrepreneurship is an evolution and for me, it’s about finding alignment in business and life while making an impact to those around me.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
San Diego has so much to offer and with a car, you can experience so much in a week. Being a born and raised San Diegan, it’s hard to list out all the favorite places and spots in a short article! The first stop we would go is getting Mexican food (hello, California burritos!) and heading to the beach. My personal favorite beaches are Encinitas, Solana Beach and Del Mar because those were the hangout spots my friends and I would go to after school when we were growing up. Depending on weather and conditions, we would take a paddleboard or boogieboard out and maybe catch some dolphins riding alongside us.

Heading towards mid-San Diego, I would watch the San Diego Wave game if the season was open and then head to Convoy District for some of the best, authentic Asian food in town. Whether it’s Korean BBQ, sushi, Chinese glass noodles or guzzling down boba drinks, there’s no shortage of a hearty meal.
Balboa Park is one of the well-known spots in San Diego. Not only do we have the World-Famous San Diego Zoo, but there are plenty of museums to wander and gardens to explore. Street vendors line the “main street” in Balboa Park where you can buy a souvenir or grab a bite. Performances at the Speckels Organ Pavilion and the Old Globe Theater are great places to get your artistic fix in.

Depending on the season, we would head to Petco Park to watch the San Diego Padres play. There is also no shortage of food and drinks in Downtown San Diego. To avoid traffic and parking, we could hang out a local micro-brew or restaurant in North Park, Normal Heights, Hillcrest or South Park, and then head to Old Town or Little Italy to take the trolley to the stadium. Staying in the downtown area, we could take the ferry over to Coronado Island where we would rent bikes and cruise around the shops, visit the historic Hotel del Coronado and hang out at the beach.

If we’re feeling adventurous, we could head about 45 minutes to an hour East where we would explore hiking trails in Cuyamaca, small towns like Julian (and can’t forget getting their apple pie!), and the beauty that nature has to offer away from the city.

With beautiful weather almost year-round, San Diego is (biasedly) one of the best cities to come visit.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. The opinions expressed herein are solely the authors ’and do not reflect the opinions of Kestra IS or Kestra AS. Kestra IS, Kestra AS, and Modern Wealth Collective® do not approve, endorse, nor are affiliated with external web sites linked herein or any of the material contained therein. Modern Wealth Collective® is not affiliated with Kestra IS or Kestra AS. CA Insurance License #0G04997. Investor Disclosures – https://bit.ly/KF-Disclosures

Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
The roots of my success would not be possible without the seeds that were planted by my Filipino immigrant parents, paternal grandfather and relatives before me more than 40 years ago. It is through their own story of resilience, perseverance, family and impact on the lives of others that created the foundation of our legacy I’m honored to continue to build upon.

Website: www.modernwealthcollective.com

Instagram: https://www.instagram.com/modernwealthcollective/

Linkedin: https://www.linkedin.com/company/modernwealthcollective/

Facebook: https://www.facebook.com/modernwealthcollective/

Image Credits
Tanya Mercado Photography Keeley Miller Photography