New Model Adviser: ‘Smash the patriarchy’: female IFAs debate profession’s problems

Even successful women in advice are feeling like ‘imposters’, and the profession’s gender imbalance is still creating an ‘intimidating’ atmosphere in some contexts. But truly new model firms should appeal to women, and change is afoot.

Three leading lights in advice came to the New Model Adviser® studio to openly discuss how and why they are, politely, ‘smashing the patriarchy’…
  • Top female advisers tell New Model Adviser® about the everyday sexism they encounter.
  • We discuss why more women should consider advice as a career.
  • How women working in advice firms are ‘hidden’ and whether they find it hard to progress or disappear from the profession.
  • Why women-only events may be needed.
  • The advisers discuss ‘imposter syndrome’ suffered by women who have made it into management and leadership roles.
  • And what keeps them inspired to keep working for a fairer environment for women in advice.

At the round table event the advisers Petronella West, director private clients of Investment Quorum, Jeannie Boyle, technical director of EQ Investors and Helen Howcroft, managing director of Equanimity IFA, spoke about why we still need women-only spaces in the professions, and what the women using these spaces are trying to achieve.

Find out all the detail over the next few slides…

An imbalanced profession

Financial Conduct Authority figures from a Citywire freedom of information request last year, showed 14.3% of CF1 and CF30 permission holders identified themselves as female. In fact the the percentage of women holding CF30 permissions had fallen from 2015, from 17.9% to 13.9%.

And the women that are working in advice tend to be doing less well-paid roles.

According to Citywire’s Planner Pay Report survey last year, the majority of women in the profession are grouped in the lower pay brackets, but were not a great deal less experienced than men: 33% of men had less than 15 years’ experience versus 41.5% of women.

Read the full article here.

Listen to the New Model Adviser® 2018 International Women’s Day podcast:


This article was originally published by New Model Adviser® on 8 March 2018:

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